A beginner’s guide to buying and selling crypto via Binance P2P quiz answers – Learn about how peer-to-peer trading works through Binance P2P guide and earn free crypto rewards.
P2P stands for peer-to-peer and in the crypto world, it means trading crypto assets directly between individuals. And you can perform this type of trading on Binance exchange all over the world.
There are many benefits of using P2P, no extra trading fees, safe and secure, fast transaction, 24/7 customer support and supports over 700+ payment methods.
You can do trading for free and do not have to pay any extra fees and because of Binance holding mechanism the payment is completed only when both buyer and seller transactions are confirmed and this prevents scams.
That is it from my end, more information you can get from the Binance P2P course. Also complete the Binance trading quiz and get one BUSD free.
Beginner's Guide to Binance P2P Quiz Answers
1. What is P2P trading?
Answer – Peer-to-peer trading, where you buy and sell directly with another person without going through a middleman
2. What should I do when the buyer sends me proof of payment via P2P chat, claiming that they have paid?
Answer – Check my bank or e-wallet balance to see if the fiat has arrived, make sure the buyer’s verified name matches the sender’s name, then release crypto.
3. What is a fake SMS scam?
Answer – Any of the above
4. What should I do if the counterparty asks me to provide my social account or phone number?
Answer – Do not send & insist on communicating through Binance P2P chat only.
5. What are the benefits of using Binance P2P?
Answer – All apply
6. Who can use Binance P2P?
Answer – Only verified Binance users.
7. Which wallet is used for Binance P2P Trading?
Answer – Funding wallet
8. Will Binance P2P send me messages in the chat box asking to release funds while a transaction is pending?
Answer – Binance P2P will only send Risk Alerts in the Chat Box.
