How I Use P2P to Buy USDT (And Avoid Getting Scammed)

P2P Is Actually Pretty Convenient

When I first heard "peer-to-peer trading," it sounded sketchy. Trading directly with strangers? But after using it for a while, I get why people like it. Learn more about Binance P2P from the official guide.

The rates are usually better than credit card purchases, and you can use pretty much any payment method.

How I Pick Merchants

This is the most important part. Not all merchants are equal.

I only trade with sellers who have:

• 95%+ completion rate
• At least 100 completed trades
• The "verified merchant" badge

Even if their price is slightly worse than some random new account, it's worth paying a bit more for the peace of mind.

The Process Is Simple

When I'm buying USDT, I open P2P, pick a merchant, enter how much I want, place the order. Then I have 15 minutes to transfer money via bank/Alipay/whatever.

Once I send payment, I hit "I've paid" and wait. The merchant checks their account and releases the crypto. Usually takes 5-10 minutes total.

The key thing: my money goes to the merchant, but the USDT is held by Binance until they release it. So they can't take my money and run.

That One Time I Almost Got Scammed

True story. I was selling USDT once and the buyer sent me a fake payment notification screenshot. It looked legit - same format as my banking app.

But I didn't release the crypto. I actually logged into my bank and... no money. Reported the buyer immediately.

Lesson: ALWAYS check your actual bank account before releasing. Never trust screenshots.

Other Tips I've Learned

1. Don't go outside the platform. Some people try to get you on Telegram or WhatsApp. Immediate red flag. Everything should stay in Binance chat.

2. The "too good to be true" rates. If someone's offering way better rates than everyone else, there's usually a catch.

3. Time limits exist for a reason. Pay quickly, don't make merchants wait. They might cancel and you'll have to start over.

4. Appeals are your friend. If something goes wrong, don't panic. Hit the appeal button and Binance support will step in.

Why I Use P2P

For me it's the best way to get money in and out. Bank transfer to merchants is basically free, and the rates are competitive.

Combined with the BNREF01 referral code I used when signing up, it's a pretty efficient setup.

BNREF01 registration link if you haven't signed up yet.