STEEMIT CRYPTO ACADEMY/SEASIN 2: WEEK 1--P2P MARKET-USDT (Binance/Huobi) @justiceanietie

My homework task solution based on the comprehensive lectures I have received from Professor @sapwood you have taken time to discussed P2P trade.
Organigram of P2P

The acronym P2P means peer-to-peer trading where the advertisers and the buyers interact with each other through a medium of an exchange to carry out transaction which when its done, the transactions are escrowed or looked for safety of the assets of the individual from scammers. In P2P the market maker is the advertiser and the market taker is the buyer.

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P2P is one of the useful and easiest platform for cryptocurrency to strive especially in a country where crypto currency are not encouraged by the government. In my country Nigeria, local banks are not permitted to carry out any transactions concerning crypt I currencies even though the voice president his Excellency Yemi Osimbajo try his possible best to educate the cabinate concerning crypt currency. In his speech, crypto currency is one of the fasted ways to make a middle Nigeria's to become rich over night but his efforts on it is still in view. P2P makes it easy for us to carry out our transactions with minimal cost and stressless effort.

The following is how I setup my exchange niche in P2P market (Binance or Huobi)
> How you Buy/sell USDT in the P2P market of (Binance or Huobi) market maker/Advicer

• on the app home page, click on P2P trading to enter the P2P trading page.
• click on the icon in the top right corner and choose payment settings
• click on add a new payment settings
• select bank transfer
• enter bank details then confirm.

HOW YOU CAN BUY/SELL USDT in the P2P market of Binance

Step 1

Log in to Binance app

If you already have a Binance account, click “Log in” and go to Step 4

If you do not have a Binance account yet, click “Register” on the top left

Step 2

Enter your email on the registration page and set your login password. Read the Binance P2P terms and click on the arrow to register.

Step 3

Enter your email and password, then click on the arrow to Log In.

Step 4

After you log in to the Binance app, click the user icon on the top left to complete identity verification. Then click “Payment Methods” to complete SMS authentication and set your payment methods.

Step 5

Go to the home page, click “P2P Trading”.

On the P2P page, click the (1) “Buy” tab and the crypto you want to buy (2) (taking USDT for example), and then select an ad and click (3) “Buy”

Step 6

Enter the quantity you want to buy, confirm the seller's payment method(s), and click “Buy USDT”.

Step 7

Transfer the money directly to the seller based on the seller’s payment information provided within the payment time limit, and then click “Transfer the fund”. Tap on the payment method you transferred to, the click “Transferred, next”

Note: Setting payment method on Binance does not mean that the payment will go directly to the seller's account if you click “Transferred , next” . You need to complete the payment directly to the seller through bank transfer, or another third-party payment platform based on the seller's payment information provided.

Please do not click “Transferred , next” if you have not made any transactions. This will violate the P2P User Transaction Policy.

Step 8

The status will be “Releasing”.

Once the seller has released the cryptocurrency, the transaction is completed. You can click "Transfer to Spot Wallet” to transfer the digital assets to your Spot Wallet.

You can click “Wallet” at the bottom and then “Fiat” to check the crypto you bought in your fiat wallet. You can also click “Transfer” and transfer the cryptocurrency to your spot wallet for trading.

Note :

If you do not receive the cryptocurrency 15 minutes after clicking “Transferred, next”, you can contact the seller by clicking the “Phone” or “Chat” icon on the top.

Or you can click "Appeal”, select a “Reason for Appeal”, and “Upload Proof”. The customer support team will assist you in processing the order.

CONCLUSION
Binance P2P transaction is the best because transactions are carried out by knowledgeable buyer and sellers and the needs of both individuals are reached.

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@steemcurator01
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