The leading cryptocurrency exchange, Binance which announced its Binance P2P program last year in October has now added support for many more fiat currencies. Recently, it added support for two more fiat currencies including Indian Rupees (INR) and Indonesian Rupiah (IDR). The new currencies were added on 14 April 2020 that allows Binance customers to trade various cryptocurrencies including Bitcoin, Ethereum, Binance Coin, Tether, EOS and Binance USD using INR. In this article, we are going to provide you with a complete description of how Binance P2P platform works and how to buy crypto with INR. If you are also interested in selling or buying Bitcoins, altcoins or stablecoins using Indian Rupees or any other fiat currency, keep reading.
Binance launched it’s P2P merchant program last year given the increasing demands of customers all over the world. Binance peer to peer fiat currency trading platform allows crypto sellers and buyers to connect directly and earn profits by posting trading ads on the platform. At the moment, you can only purchase and sell a couple of cryptocurrency and stablecoins on the p2p trading platform that includes USDT, BTC, ETH, BUSD, BNB and EOS. There are more than 20 fiat currencies supported for P2P trading including CNY, RUB, EUR, GBP, AUD, CAD, IDR, INR etc. Apart from trading cryptocurrencies by directly connecting with buyers and sellers, there are various benefits of using Binance peer to peer trading that are mentioned below in the guide.
If you are looking for a different and easy way to buy crypto with INR and other fiat currencies, then P2P trading is your answer. Undoubtedly, Binance is the leading crypto platform that allows millions of people worldwide to trade in cryptocurrencies. While you can make great profits by trading on the Binance exchange, in case you are in a hurry or want to buy crypto with USD, INR or any other fiat currency, Binance P2P trading is a way out for you. Given below are some of the reasons why you should consider Binance peer to peer trading over other P2P platforms.
In order to sell or buy crypto from Binance P2P trading platform, you need to submit an application to get verified by Binance team first. The form requires you to provide all the necessary information such as bank account details, mobile number, email address, Binance KYC verification, address and address proof, as well as your bank account statements. Once, you fill-up the form and submit it, all your provided details and documents are verified by the Binance verification team. You will receive an email from Binance within 48 hours regarding the verification and if you are approved you can use the p2p platform right away.
After you get approved to post buy and sell ads on P2P trading platform, the remaining procedure is really simple. Whether you want to buy crypto with INR or sell it, the steps are going to be similar. To know how to purchase cryptocurrencies from the best p2p Bitcoin exchange in India, follow the steps given below:
In case you don’t receive the cryptocurrencies in your wallet within the time limit, you can contact Binance support team by selecting appeal. Binance will reach you in a while and solve your issue.
So this way you can sell and buy crypto with INR easily on Binance peer-to-peer trading platform for any fiat currency. If you are looking forward to making profits with your cryptos, read our cryptocurrency guides about how to make profits from day trading. Before getting into more technical stuff like margin trading, make sure you’ve learned everything possible about it. Without proper experience, there are high chances of loss in futures trading and one should not play with their money unless they have the proper knowledge.
At the moment, there are only a few cryptocurrencies and stablecoins supported on the Binance platform. As the platform is growing further, we are hoping to see much more cryptocurrencies supported on it. However, if you are interested in buying altcoins like Ripple, Dash etc, use Binance cryptocurrency exchange to place your order.
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