Binance’s P2P platform allows users to buy/sell cryptoassets — currently, BTC, ETH, BNB, BUSD, and USDT — directly from/to other users on the platform with zero transaction fees.
This platform was first launched in October 2019 on Binance’s mobile apps. Since then, it has “processed over $300 million in trades, attracting users and merchants worldwide.”
Here is what the user interface looks like:
Binance Co-Founder and CEO Changpeng Zhao (aka “CZ”) had this to say:
“P2P trading is a more flexible model for fiat-to-crypto trading and allows users to choose their preferred cryptocurrencies, amount, and payment methods.
“We see its potential to accelerate crypto access and adoption in a decentralized way. By the end of 2020, we plan to provide Binance P2P trading services to users in over 30 countries.”
Featured Image and Screenshot Courtesy of Binance