BINANCE P2 — SteemCN

What is P2P trading?
P2P (Peer-to-Peer) trading is also known as C2C (Peer-to-Client) trading in some regions. In a P2P trading, the user directly deals with the counterparty, performs the fiat-asset exchange offline and confirms the transaction online. Once the offline fiat-to-asset swap is approved by both parties, the digital asset is released for sending to the buyer.
A P2P platform serves as a trading facilitator by providing a platform for buyers and sellers to broadcast their offers. At the same time, escrow services for the online digital asset ensure that the digital asset is secured and delivered on time during the execution of the trade.
Are the offers I see on the P2P exchange provided by Binance?
The offers you see on the P2P offer listing page are not offered by Binance. Binance serves as a platform to facilitate trading, but offers are provided by users individually.
How am I protected as a P2P user?
All online transactions are protected by an escrow service. When an advertisement is posted, the amount of crypto specified in the advertisement is automatically blocked from the seller's P2P wallet. This means that if the seller runs away by taking your money and doesn't release your crypto, our customer service can release the crypto from blocked funds to be sent to you.
If you are selling, never release the fund before confirming that you have received the money from the buyer. Keep in mind that some of the payment methods used by buyers do not happen instantly and you will take a big risk if you release funds.
Can I trade before KYC is completed? What should I do before trading on P2P?
Step 1: Users must enable 2FA authentication in Account Center (for example, SMS verification or Google Authenticator) and then complete personal authentication (basic information + facial recognition).