What Is Binance P2P? A Complete Guide to Using Binance P2P Safely in Pakistan
Introduction
Binance P2P (Peer-to-Peer) is a feature on Binance that allows users to buy and sell cryptocurrencies directly with other users using local payment methods. Binance acts as a trusted intermediary by holding the crypto in escrow until the transaction is completed safely.
This coulmn explains how Binance P2P works, why it is popular in Pakistan, and how beginners can use it securely.
What Is Binance P2P?
Binance P2P is a marketplace where buyers and sellers trade cryptocurrencies such as USDT, Bitcoin, and others directly with each other. Instead of buying crypto from Binance itself, users interact with verified individuals.
Binance protects both parties through its escrow system, which ensures that the cryptocurrency is only released after payment is confirmed.
Why Is Binance P2P Popular in Pakistan?
In Pakistan, many users prefer Binance P2P because it supports local payment options and PKR-based transactions.
Key reasons for its popularity:
Supports PKR payments
Local payment methods like bank transfer, JazzCash, and EasyPaisa
Zero trading fees
Large number of local buyers and sellers
Easy access for beginners
How Does Binance P2P Work? (Step-by-Step)
Step 1: Create a Binance Account
Sign up on the Binance app or website
Complete identity verification (KYC)
Step 2: Open the P2P Section
Go to Trade → P2P in the Binance app
Step 3: Choose Buy or Sell
Select the cryptocurrency you want (USDT is recommended for beginners)
Choose your preferred payment method
Step 4: Select a Seller or Buyer
Before placing an order, check:
Completion rate
Number of trades
User reviews
Verification status
Step 5: Make Payment
Send payment using the provided payment method
Only pay to the account shown on Binance
Click the “Paid” button after payment
Step 6: Receive Cryptocurrency
Once the seller confirms payment, the crypto is released from escrow
The crypto appears in your funding wallet
What Is Binance Escrow System?
The escrow system is a security feature that protects both buyers and sellers.
Crypto is locked by Binance when an order starts
Seller cannot withdraw crypto during the trade
Crypto is released only after payment confirmation
Disputes can be handled by Binance support
This system significantly reduces fraud risk.
Safety Tips for Using Binance P2P
Binance strongly emphasizes security, especially for new users.
Never trade outside the Binance platform
Do not communicate outside Binance chat
Always confirm payment before releasing crypto
Save payment receipts and screenshots
Ignore fake calls, messages, or emails
Contact Binance support in case of disputes
Advantages and Disadvantages of Binance P2P
Advantages
Secure escrow protection
Local payment methods
No trading fees
Beginner-friendly interface
Disadvantages
Manual payment process
Risk of scams if safety rules are ignored
Tips for Beginners
Start with a small amount
Buy USDT first before other cryptocurrencies
Trade only with verified users
Read all instructions carefully before confirming payment
Conclusion
Binance P2P is a safe and convenient way to buy and sell cryptocurrency in Pakistan when used correctly. With escrow protection, local payment options, and a large user base, it is an excellent starting point for beginners entering the crypto space.
