Hello everyone, hope you are all doing great. I welcome you all to my first homework task of season two provided by @sapwood. Thanks to @steemitblog for this awesome initiative.

• Explain how you set up your exchange niche in P2P Market(Binance or Huobi)- Market Maker/Advertiser?

This is the homepage of the binance app. Here we can we an option named "p2p trading." At first. I click on this option.

Here , I need to click on the Advertisement mode. Remember, we need to complete KYC for enabling p2p mode. But I have already done KYC verification. So I can proceed to next step.

Here, we can see an option named "Switch to Advertisement mode". I click on "confirm" to proceed.

By clicking on "Ads", A "Post Ad" option will appear. By clicking on that, I can publish an advertisement.

• ***Explain how you buy/sell USDT in the P2P Market of Binance for fiat? ***

Here, I can buy USDT from any buyer tapping on the buy option. I need to careful on two criterias choosing a seller:

• Limit
• Payment Method.
• Success rate and reviews.

There is a difference before selling USDT. I need to tranfer my USDT from spot wallet to p2p wallet. And, I need to add my preferable payment method too. Then, I can sell USDT to any buyer tapping on the sell option. Ensure, the buyer has send you payment of not. Then, you should release your fund.

• How does escrow protection help a buyer and seller?

In p2p trading, security is a big issue. There are scammers everywhere. What is seller sends his USDT and buyer didn't pay him or vice versa. This problem is solved by escrow service. Escrow service works for minimize the risk of both buyer and seller.Buyers are fully protected because escrow will not disclose funds until the buyer receives the promised ammount. Again, escrow provides complete protection to sellers by ensuring the buyer is safe and funds are sent to Escrow. The seller will be notified after the escrow verification process is completed.

• ***What are the different payment methods (fiat options) available in Binance or Huobi?Have you ever used any of the fiat payment methods to trade your USDT? ***

Currently, Binance supports 50 plus fiat currencies for trading. I have attach a screenshot below:

To be honest, I have never tried p2p yet. I have found an payment method "Mobile Recharge." Hopefully I will try soon.

• What is the minimum amount you can trade in the P2P Market(USDT) of Binance or Huobi?

source

The minimum amount you can trade in the P2P Market(USDT) is 100 USDT on binance exchange.

• Have you ever transferred TRC-20 USDT from Binance to Huobi and vice versa? How much cost do you save using Tron Network as compared to ERC-20 USDT?

I have never transferred TRC-20 USDT from Binance to Huobi. I have transferred from Poloniex to Binance. So, I want to answer this question using Poloniex to Binance.

The network fee is 0 USDT for TRC-20 USDT.

Here, The network fee is almost $30 when I transfer TRC-20 USDT from poloniex to binance using Ethereum network.

After comparing, I can say The Tron network is super cost friendly than Ethereum network in the case of transferring TRC-20 USDT.