Leading crypto exchange Binance notes that their peer-to-peer service helps users establish a “competitive” peer-to-peer digital currency trading business.
Since its launch back in October 2019 for just a single market, Binance P2P has become a major global marketplace for peer-to-peer trading of virtual currencies. Its position as a “key feature” of Binance, the largest crypto exchange by trade volume, has made the platform “a safe, reliable, and high-traffic venue for your P2P trading needs,” the digital assets firm claims.
Binance also mentioned that P2P’s value as “an ideal marketplace” is boosted by its interconnections with the widest suite of crypto and crypto-financial services currently being provided via a single platform.
However, on its own, Binance P2P also provides several benefits or advantages that help it stand out in a “competitive” field of peer-to-peer marketplaces.
Some of the advantages of trading via Binance P2P include zero trading fees. As confirmed by Binance, since its very first day, Binance P2P has not charged any fees for transactions performed via the platform. Binance explained that this way, every deal users make results in them “getting the full gain, without worrying about charges or other hassles that come with other crypto P2P websites.”
Binance P2P also supports several different payment methods and fiat currencies as well.
As noted by the exchange, Binance P2P has developed a network of widely-used payment channels as “available options for your P2P transactions.” Binance claims that it supports more than 150 different payment methods across the globe, so you will most likely find options that you may prefer to use. Additionally, Binance offers 50+ fiat currencies, “covering major P2P trading spots around the world.”
Binance further noted that its P2P marketplace is a “truly local and global marketplace.”
The digital assets firm added:
“The network of payment channels and fiat currencies we support has turned Binance P2P into a compelling global product, whereas many other P2P platforms are geared specifically toward a few markets. While hyper-localization has its merits, you can also see this localized emphasis on Binance P2P, even with a global reach, through our multi-language customer support and focus on supporting every region’s biggest payment providers. You can have local and global in one place with Binance P2P.”
Binance also confirmed that they offer an escrow service for users’ safety.
The Binance team explained:
“We combine zero fees with a global reach, and we add top-notch security and assurance on top of that combination. Each Binance P2P trade involves escrow service protection, which assures that each counterparty in a transaction is protected from any attempt by either party to act in bad faith.”
As reported recently, compliant security token offerings may be conducted with Binance Smart Chain enabled digital identity solutions from Ontology.
In late January 2021, Binance had announced that it would offer $60,000 in prizes to virtual hackathon participants for creating open-source software on the Binance Smart Chain.
Disclaimer: This article is provided in good faith for general informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.