Before trading cryptocurrencies, you need to buy cryptocurrencies first.
In this video, we will show you how to buy cryptocurrencies using multiple fiat currencies in various payment methods on the Binance peer-to-peer trading platform on Binance website and Mobile app.
How to Buy Crypto on Binance P2P (Web)
Before we start, make sure you have completed SMS authentication and identity verification
- Step 1: Log in to your Binance account on Binance.com
- Step 2: Choose the default currency you want to use
- Step 3: Click the “Buy Crypto” tab and select “P2P Crypto Exchange” to enter the P2P trading interface. You can also access the P2P trading from the “P2P” under the “Spot” tab.
- Step 4: Choose a cryptocurrency you want to buy, and click on that cryptocurrency name on the buy tab. Now you can see the trade advertisement offered by users or merchants.
- Step 5: You can filter the ads by entering the amount, fiat currency, and payment methods.
- Step 6: Select an ad corresponding to your needs, and click the Buy button.
- Step 7: Enter the amount of fiat currency you want to buy and the payment method again and click Buy Now.
- Step 8: Then, you will see the order details and the seller’s payment information. Copy the payee information to make payment as instructed.
- Step 9: The transaction is made out of the Binance platform between you and the seller. Please double-check the payee information and complete the transaction within the time limit.
- Step 10: Once the payment is made, click on “Transferred, Next” and then, click “Confirm”.
- Step 11: The seller will release the crypto after confirming the payment is received and the status will be updated to “To be released”
- Step 12: The transaction will be completed. You will find the cryptocurrencies in your fiat wallet. You can click “Transfer to Fiat Wallet” to transfer the fund and start trading crypto-to-crypto.
How to Buy Crypto on Binance P2P (Mobile app)
Before we start, make sure you have completed SMS authentication and identity verification.
- Step 1: Open Binance app on your mobile phone and log in
- Step 2: Click the “Buy From Vendors” tab on the homepage to enter the P2P trading interface.
- Step 3: On the “Buy” tab, select the cryptocurrency you want to buy. For example, when you want to buy USDT with RUB (Please watch the video we have enclosed)
- Step 6: Select an ad corresponding to your needs, click the Buy button and please pay attention to the available quantity and limit for each ad.
- Step 7: Choose a seller you want to trade with and click “Buy” to place your order.
- Step 8: Enter the amount that you want to buy then click “Buy USDT” (or the currency you want to trade).
- Step 9: You have generated a buy order, then you will see the order details and the seller’s payment information. Copy the payee information to make payment as instructed
- Step 10: Once the payment is made, click on “Mark as paid”
- Step 11: The seller will release the crypto after confirming the payment is received and the status will be updated to “To be released”
- Step 12: The transaction will be completed. You will find the cryptocurrencies in your fiat wallet. You can click “Transfer to Fiat Wallet” to transfer the fund and start trading crypto-to-crypto.
