Binance P2P (peer-to-peer) is a secure platform that enables users to buy and sell cryptocurrencies directly with one another, using local currencies and preferred payment methods. For crypto holders looking to cash out, understanding how to sell crypto on Binance P2P is essential, especially in regions with limited fiat-to-crypto options.
This comprehensive guide will walk you through the process of selling your cryptocurrency on Binance P2P and provide insights into payment options, safety tips, and frequently asked questions.
What Is Binance P2P?
Binance P2P is a decentralized marketplace within the Binance exchange where buyers and sellers can trade cryptocurrencies directly. Unlike regular trading, P2P enables transactions without intermediaries. Users can choose their own prices, preferred currencies, and payment methods.
Popular assets supported include:
Bitcoin (BTC)Ethereum (ETH)Tether (USDT)Binance USD (BUSD)Binance Coin (BNB)USD Coin (USDC)Why Sell on Binance P2P?
Before we dive into the Binance P2P selling guide, let’s explore why it’s a preferred method for many users:
Zero trading fees: Binance doesn’t charge extra fees for P2P trading.
Local payment methods: Bank transfers, UPI, Paytm, and other local options are available.
Flexible pricing: You can set your own sell price or accept the best available offer.
Fast withdrawals: You receive money directly in your bank or e-wallet.
Safe escrow service: Funds are held in escrow until payment is confirmed.
Step-by-Step: How to Sell Crypto on Binance P2P
1. Login to Your Binance Account
First, ensure you have a verified Binance account. Complete KYC verification and enable 2FA for secure trading.
2. Transfer Crypto to Funding Wallet
You can’t sell directly from your Spot wallet. Move the crypto you want to sell to the Funding Wallet:
Go to Wallet > FundingClick TransferChoose asset (e.g., USDT) and enter the amountConfirm the transfer3. Go to the P2P Trading Section
Navigate to Trade > P2P on the top menu bar. From here:
Click the "Sell" tabSelect your crypto (e.g., BTC, USDT, BNB)Choose your preferred fiat currency (e.g., INR, USD, NGN)4. Choose a Buyer or Post an Ad
You have two options to sell:
Option A: Sell to an Existing Buyer
Browse the available buyersCheck price, limits, payment method, and completion rateClick "Sell" next to a suitable offerEnter the amount and confirm the saleOption B: Post Your Own Ad
Go to P2P > More > Post New AdSet your price, limit, and preferred payment methodWait for a buyer to accept your offerTip: Always choose buyers with high order completion rates and positive feedback.
5. Wait for Payment
Once you confirm the sale, Binance places your crypto in escrow. The buyer will then transfer the money using the selected payment method (bank, UPI, etc.).
6. Confirm Receipt and Release Crypto
After you receive the payment, check your bank or wallet to confirm. Then:Click “Payment Received”Confirm again, and Binance will release crypto to the buyerNever release crypto without confirming payment in your account. Binance will not reverse a transaction once released.
How to Withdraw Money from Binance P2P
Your crypto sale results in a fiat deposit directly into your external account. There’s no need to use Binance’s regular withdrawal feature. Here's how to ensure smooth withdrawals:
Use trusted payment methods like UPI, bank transfer, or e-walletsAlways double-check the account number you providedTrack transactions through your banking app for immediate confirmationPro Tips for P2P Crypto Trading on Binance
1. Enable Real-Time Notifications
Use the Binance app to get alerts on incoming offers or buyer payments.
2. Use Filters
Filter buyers by price, payment method, and rating to find the best match.
3. Communicate Clearly
Use the in-app chat to ask buyers about expected payment times.
4. Avoid Suspicious Accounts
Don’t trade with users who have low feedback scores or suspicious behavior.
5. Know the Dispute Process
If there’s an issue (e.g., you didn’t receive payment), open a dispute immediately within the trade chat window.
Supported Payment Methods for P2P Selling
Depending on your region, Binance supports various payment methods for receiving funds, such as:
UPI (India)Bank Transfer (SEPA, SWIFT, IMPS, RTGS)Paytm, PhonePe, Google PayCash App or Zelle (U.S.)M-Pesa (Africa)Common Questions About Selling Crypto on Binance P2P
Q1. Is it safe to sell crypto on Binance P2P?
Yes. Binance uses an escrow system to hold your crypto securely until you confirm receipt of funds. Just make sure to verify payment before releasing.
Q2. Are there fees for selling crypto on Binance P2P?
No, Binance charges zero fees for both buyers and sellers on the P2P platform.
Q3. How fast will I receive payment?
Most payments are processed within 15-30 minutes. It depends on the buyer and your selected method.
Q4. Can I sell Bitcoin on Binance P2P instantly?
Yes. If you choose a verified buyer with high order volume, the process can be completed in minutes.
Q5. What if the buyer doesn’t pay?
Don’t release your crypto. Use the "Appeal" feature, and Binance support will step in to resolve the issue.
Final Thoughts
Selling crypto on Binance P2P is one of the fastest and most flexible ways to convert digital assets into local currency. With no trading fees, secure escrow, and a wide range of supported payment methods, it offers a convenient solution for users in both developed and emerging markets.
