There are five different types of users on the Binance P2P platform. Find out which category you fall into. ⤵️
In order to trade on Binance P2P, users need to complete the Know Your Customer check first. Once users have completed the check, they are known as verified users. KYC standards are designed to protect the Binance P2P platform and its users against bad actors.
While you can enjoy more freedom on traditional peer-to-peer platforms, the absence of intermediaries can sometimes result in fraud or poor P2P trading experiences. Identity verification checks are used to mitigate such risks and make the overall experience a seamless and safe one. Find outAs mentioned above, verification is an important process as it helps the platform optimize risk management.
Verified P2P merchants play a key role in providing liquidity on the Binance P2P marketplace. To spot if they are verified, simply look for the yellow badge that all verified merchants receive. Verified merchants undergo extra verification and need to have previous experience in peer-to-peer cryptocurrency trading. Read more onCash merchants can post Cash Trading advertisements on the Binance P2P platform. This enables merchants and users to meet face-to-face to.
To become a Cash Merchant, you need to first be a Binance P2P merchant and then apply to be a Cash Merchant. Ensure that you meet basic requirements like having significant experience in handling P2P trades or cash trades, a physical office to do the exchange, and the capacity to provide security deposits. For those who are interested in
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