Main Takeaways
Binance Wallet users can now buy crypto using their local currencies via the new Buy with P2P option, in addition to the existing Buy with Card.
Buying through the P2P channel automatically matches users with the best available P2P market rates for a fast and seamless trading experience.
The new service is powered by Binance Connect, the official fiat-to-crypto gateway of Binance enabling a wide range of payment rails for buying crypto and designed with local needs in mind.
Bypass the extra steps and find the best marketplace rate instantly, all within your Binance Wallet! The new Buy with P2P feature simplifies your trading by automatically matching you with the best offers available across our peer-to-peer platform, in your preferred currency, so that you don’t have to browse through listings manually.
What Is Binance Wallet?
Binance Wallet is a self-custody crypto wallet within the Binance app also available via web, designed to empower users in the realm of decentralized finance (DeFi). Serving as a digital gateway to blockchain-based decentralized applications (DApps), it offers users a secure and convenient method to manage their cryptocurrencies, execute token swaps across multiple chains, earn yields, and interact with a variety of blockchain platforms.
One of the primary fiat deposit methods available on Binance Wallet is Buy with Card, allowing users to purchase cryptocurrencies directly using their credit or debit cards. This method provides a fast and convenient way to convert fiat currency into crypto without leaving the wallet interface.
Now Live: Buy Crypto with Local Currencies via P2P on Binance Wallet
We are excited to announce that users can now buy crypto using their local currencies through P2P (peer-to-peer) trading on Binance Wallet, powered by Binance Connect. This new feature enables a more flexible and localized buying experience, connecting buyers and sellers directly within the wallet.
What Is Binance P2P?
Binance P2P (peer-to-peer) is a marketplace-style platform that allows users to buy and sell cryptocurrencies directly with one another, without the need for an intermediary. This decentralized trading method offers several key benefits, including increased convenience, speed, and flexibility.
Key benefits of Binance P2P include:
Convenience and Speed: Users can quickly find the best available offers automatically matched by the system.
Local Currency Support and Flexibility: Binance P2P supports a wide range of local currencies, enabling users to trade crypto using their preferred fiat currency, making it easier to access crypto markets globally.
Enhanced User Experience: The platform offers a user-friendly interface, secure escrow services, and multiple payment options, ensuring safe and smooth transactions.
How P2P Works Within Binance Wallet
Within Binance Wallet, P2P trading is integrated seamlessly, allowing users to initiate and complete peer-to-peer crypto transactions without leaving the wallet environment. Users are automatically matched with best offers across the P2P platform, and can make payments directly through the wallet, simplifying the entire process. The integration connects transactions in Binance P2P Express mode, reducing the time and effort required to find suitable trading partners.
Integration with Binance Connect
This latest addition to Binance Wallet’s fiat deposit methods is made possible by Binance Connect, acting as a bridge enabling streamlined connectivity between Binance Wallet and P2P payment and trading services. Binance Connect ensures secure, fast, and reliable transactions, enhancing the overall user experience and making P2P trading more accessible and trustworthy.
This enhancement broadens the options available to Binance users when purchasing crypto via Wallet, offering more payment choices and greater convenience. To integrate Binance Connect to your platform as a business partner, please submit your request via the Partner Contact Form.
How to Buy Crypto with P2P on Binance Wallet
1. Open your Binance Wallet, tap [Receive], then select [Buy with P2P].
2. Enter the amount of fiat you want to spend, select the token you wish to buy, and choose your preferred payment method by tapping the [Pay with {Payment methods}] drop-down menu.
4. Review the order details, including any fees that may be charged depending on the payment method by tapping the ellipsis button. Tap [Confirm] to continue the order.
For a detailed guide, visit How to Buy Crypto with P2P on Binance Wallet.
Note: The products or features referred to above may not be available in your region. Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance services in each country from which the services are accessed.
Final Thoughts
When it comes to buying crypto, the more payment methods available, the better. With the new Buy with P2P service within Binance Wallet, users can enjoy the expanded option to buy crypto directly with local currencies, choosing from better rates and access to preferred payment methods available in their region. Powered by Binance Connect, the experience is more flexible and efficient than ever, designed around local needs.
Try the new P2P on-ramp today and experience a smoother, more convenient way to buy crypto within Binance Wallet.
Further Reading
Binance Wallet Integrates Binance Connect: Instantly Buy Crypto Using Fiat
How Binance Connect Is Powering Fiat-to-Crypto On-Ramps for Web3 Wallets and DApps
Binance Wallet: A Seamless Journey into Web3
Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
The Binance Wallet Services are offered by Binance Barbados Limited, and involve the provision of unregulated, third-party services, which are not supervised by the Financial Services Regulatory Authority of the Abu Dhabi Global Market, or any other regulatory authority. Binance Wallet is not responsible for your access or use of third-party applications (including functionality embedded within the Binance Wallet) and shall have no liability whatsoever in connection with your use of such third-party applications, including, without limitation, any transactions you dispute. Please carefully review the Terms of Use and Risk Warning and always do your own research.
Binance Connect is only available to users who are eligible and may not be available or may be restricted in certain jurisdictions or regions or to certain users, depending on legal and regulatory requirements.