Binance P2P: How to Buy & Sell Bitcoin

Binance P2P as a complete beginner. A full step-by-step Binance P2P tutorial so you can start trading Bitcoin/Crypto on the Binance P2P exchange.

I’m going to make this tutorial a simple, straightforward method.

Binance is available on the web and the mobile platform, I will be doing a full walkthrough using the mobile App. If you want to download the app, use this link to download the mobile app and avoid downloading the fake Binance app.

I will walk you through the entire process, showing you how you can buy bitcoin via P2P, how you can sell bitcoin via P2P, and how you can move your fund from Binance P2P.

Bonus: You will get a free $5 just like that if you register via this link.

You can’t get this elsewhere. So hurry now.

What is Binance P2P?

The word “P2P” means peer-to-peer or person-to-person, and is a decentralized platform whereby two individuals carry out trade directly with each other, without intermediation by a third party.

P2P in Binance means a decentralized service. Decentralized means no one person or government has power over the transaction. Is just you (Buyer) and the person (Seller) transacting with each other.

Binance provides a platform for you to trade crypto directly from your bank or with cash with another person. They make sure that the people who are trading are screened.

There are different payment options and currencies supported via the Binance platform. With the Binance P2P platform, there are no fees, traders set their own trading fees.

Binance ranks trade prices by showing the best price at the top. On Binance, users must complete the Know Your Customer (KYC) process to trade on the P2P platforms. Binance provides escrow service.

Read: Binance for Beginners: How to Open an Account and Trade Crypto in 2025

What is Binance Escrow Service?

An escrow service is an arrangement whereby a trusted third party handles the exchange of the tokens between the buyer and the seller, ensuring safety and fair trading.

Binance P2P’s escrow service is a system Binance uses to safeguard every transaction, giving traders peace of mind.

This method avoids theft or scams by establishing a second degree of trust, preventing scammers.

Once the buyer places an order, the seller’s cryptocurrency will automatically be transferred from the seller’s wallet to the temporary deposit with Binance P2P’s escrow service. The cryptocurrencies will be held in the deposit guarantee until the transaction is successfully completed by both parties.

Read:

• 10 Best Crypto Exchanges in the World
• How to Buy Bitcoin in Nigeria with Naira (Step-by-Step Guide)

How to Buy Bitcoin on Binance P2P via App

Step 1. Log in to your Binance app.

From the App, on the Homepage, you will see P2P Trading, click on it, it will take you directly to the Binance P2P trading environment.

Or

On the Homepage, select “more” on the trade section and select P2P.

Step 2. Binance P2P Environment.

You will be taken to the banace P2P environment where you can place your buy order. Make sure you select “Buy” in the top left corner and choose the token you want to buy. (E.g., USDT). Once you have chosen the token you want to buy,

Step 3. Choose Seller.

Select the seller of your choice and click “BUY.”

Step 4. Seller Profile.

You will be taken to the seller’s profile, where you will fill in the amount of the token you want to buy. You can select “By Fiat” or “By Crypto”. Depending on how you want and put the amount in the box you want to pay for or the quantity of the token you want to buy.

Step 5. BUY

Click on BUY.

Note: Before you proceed by clicking on the “Buy button, make sure you read the terms of the seller and look for the payment method of the seller if it matches with your payment method. If it does, proceed to “step 6”, but if the seller’s payment method is not the same as yours, go back and look for the seller that has the same payment method as yours.

Step 6. Transaction Details.

You will be taken to a new page where you will see the transaction details of the token you want to purchase with the amount you are to pay. If it’s ok, click on “To payment page”

Step 7. Copy Account Information.

You will see the seller’s account information. Copy it and go to your own banking or payment platform to transfer the funds to the seller’s account provided to you.

Step 8. Notify Seller.

After you have made the transfer, click on the “Transferred, notify seller” button.

Note: If you do not click on the “Transferred, notify seller” button, the order will be cancelled, and you might lose your funds (Money).

Step 9. Seller to Confirm Payment.

Once the seller confirms your payment, the seller will release the token, and you will receive the token in your P2P wallet.

You can click “Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.

How to Sell Bitcoin on Binance P2P via App

The same process applies to the buy section, but this time, rather than selecting the buy option, you switch to sell.

Let’s get started.

Step 1. Log in to your Binance app.

Go to the Binance app, from the App, on the Homepage,  go to the  “Wallets” tab, click “Funding” and “Transfer”.

Step 2. Select the token you want to transfer.

Choose “Spot wallet” in the “From” box and “Funding” in the “To” box, select the token you want to transfer, and the quantity.

Step 3.  Confirm Transfer.

Click on “Confirm Transfer”. Your token will now be transferred from your “spot wallet” to your “Funding wallet”.

Step 4. Choose Funding.

Click “Funding” at the top of the app, select P2P.

Step 5. P2p Page.

You will be taken to the P2P page. At the top left corner, switch from “ Buy” to “Sell.

Note: Ensure you select “P2P” instead of the “Express” option. Once you have selected the P2P option, you need to add your payment method.

You can find it at the top right corner by clicking on the three(3) dot.

Step 6. Add Payment.

Select “Payment method” and click “Add a payment method”. You will see the recommended payment method. You can select it, or select “All payment Methods”  and select the ones that are suitable for you.

Step 7. Payment Information.

Fill in your payment information and click “Confirm”.

Note: The added payment information will be shown to the buyer during the transaction. Please make sure the information is correct.

Step 8. Copy the code.

A verification code will be sent to your registered Email or Phone number. Copy the code and put it in the verification box provided, and click “Submit”.

You will receive a message that your payment method is successful.

Note: Your payment method name must be the same as your verified name.

Step 9. Sell your crypto.

Select the crypto you want to sell and click on the filter menu option, select the payment you want, or leave it in “All”.

Step 10. Enter Amount.

Enter the amount you want to sell and click “yes”.

Step 11. Choose Buyer.

Choose any buyer of your choice and click “Sell”. You will be taken to the Buyer profile page.

Note: Before you proceed by clicking on the Sell Button, make sure you read the terms of the buyer.

Step 12. Enter an amount, payment method, and sell.

1. Enter the amount or quantity you want to sell,
2. Select a payment method,
3. Click “sell”. After the buyer makes payment, the transaction will now display “To be released”.

Note: Please make sure that you’ve received payment from the buyer.

Step 13. Confirm the release of the assets.

Tap “Confirm release” and “Confirm” to release the assets to the buyer’s account.

Note: Don’t release assets to avoid any financial losses until you are sure the Fund is in your bank account. You have confirmed that the buyer made the payment and the funds is in your account.

Step 14. Order Completed.

Now that the order is completed, the buyer will receive the assets.

Tips to Stay Safe when Trading on Binance P2P

1. Please do not agree to any request to release the crypto before confirming the receipt of the payment to avoid financial losses.
2. Don’t use the same email for your buyer as the same you use in your Binance account. Use a separate email address from the email you provided in your Binance account. 
3. Don’t trade outside the Binance P2p platform. If anything goes wrong, Binance will not be able to resolve it. Make sure all P2P trading is done in the Binance P2P platform. A lot of people have been scammed with this. So be careful. Don’t fall victim.
4. Make sure the trader’s account matches their real name on the Binance platform.
5. Do not agree to any request to release the crypto before confirming the receipt of the payment to avoid financial losses.
6. Do not release funds until you see the money in your Bank account.

Bonus: You will get a free $5 just like that if you register via this link.

You can’t get this elsewhere. So hurry now.