I am so happy on seeing the second round of crypto courses.

In my today lecture from @sapwood, I learn and understand how we Transfer and Deposits our funds from crypto exchanges, at the same time how we withdrew to the bank again.

I have experience in the P2P market. Because I withdraw some of my earns money here through Binance and Kucoin.

Binance is my first choice, always go for my P2P here. Because it is very easy for me and comfortable to use in mobile too.

One more reason is here No FEE FOR P2P transactions. So we can do it whenever we need it at 24/7 available.

Question Number 1:-

Explain how you set up your exchange niche in P2P Market(Binance or Huobi)- Market Maker/Advertiser?

For this, I choose Binance Exchange for the P2P market.

On mobile also we can set up very easily.

For fiat transaction, we must finish our KYC, otherwise not possible to do P2P transactions on any platform.

For crypto trading no need KYC, but for fiat related activities we must finish KYC.

Finishing KYC doesn't take a huge time, In the short time, we can finish it.

Here I place my Ad for selling my USDT to INR, then withdraw to my bank account.

For this, I first Transfer my USD from *Spot wallet to P2P wallet.

For trading minimum amount is 100$, less than 100$ not possible to place an Ad for selling USDT.

For Transfering my amount from spot to p2p, Just log in to your account.

Then select Transfer Tab, then you get like this.

From this, I select USDT, then transfer my usdt to a p2p wallet.

You get one confirmation message, just confirm it. Now I successfully transfer my usdt to a P2P account.

You can check your amount in the P2P wallet of Binance. Like this is showing.

Now I am ready to place my ad in the P2P market.

For this just go to the main page, then select ***P2P TRADING****.

You get like this window.

In the Down of the window you see the Ad tab, just select it.

Using this we can place an ad, for both buying and selling, as per your wish you go for it.

For Example, here I placing Ad for selling my USDT.

Here I set my selling for each USDT around Rs 78.

After setting remaining just select NextTab,

Then enter the amount of how much you need to sell, then select your Payment Method. Then select Next tab. Here we can select Time interval also. I select 30 minutes for my payment.

Here we can enter our Terms and conditions and Rules as per our wish. On entering just select the Post tab.

Now I successfully place my Ad, if anyone interested in my selling price, they buy my usdt and Transfer it to my Bank account.

Today my order executed within 5 minutes.
Here is a screenshot of my complete Transactions.

After checking my withdrawal through my bank, I release my USDT to Seller. Without checking don't release, after complete verifying only release your money.

Like that we can do Fiat Transaction very easily through Binance Mobile Application.
All notifications we get through SMS also, so no need to worry about fiat Transactions. All are in our control. We can set it as per our needs.

Question Number 2:-

Explain how you buy/sell USDT in the P2P Market of Binance or Huobi for fiat??

Here I choosing Binance for my fiat Transaction. Because Binance is the No 1 trusted exchange, the most popular and easy to use platform. Even through Mobile also we can do fiat trading very easily.

On placing Ad in the P2P market we can buy/ sell fiat very easily.

For example, here I placing my buying Ad for USDT for my INR.

For this just go P2P market, without placing Ad also we can do our transactions.

There is a lot of Ads already placed by different people, If you interest anyone, just pick and process the remaining process.

On this screen we can see, different people placing different limits and their selling price too. From this select anyone and process the remaining process.

Otherwise, go through the Ad tab, then place your Ad here.

For Example, here I placing my buying Ad here.

To select the Ad tab, then we get like this screen.

Then finish the remaining settings.

On entering our conditions we can place our Ad, successfully.

How we sell our USDT to INR, already I explain in above. Pls check.

Then after it visible in the P2P market. If anyone like our order then it executes in time.

Like that we can place buy order.

Question Number 3:-

How does escrow protection help a buyer and seller?

Escrow plays a big role in the P2P market. It avoided unnecessary orders too.

Who have funds they only possible to place an order, without founds it not allow us to place order

Buyers and Sellers Found collect in Escrow, after getting verification from us only Founds get release. So we get 100% security 🔐 here.

Security and Transparency are most important to build any healthy community. Both we get here through Escrow protection. That's why all of us doing stress-free fiat Transactions now.

Simple Escrow works as an agreement between buyers and Sellers. Based on their rules and limits, this order executes automatically. Due to this, we can avoid scammers very easily.

Source

One more important feature we get through Escrow is before completing Transaction it verifies all transaction related details first, then only order execute. So from this, we get 100% accurate results.

Question Number 4:-

What are the different payment methods (fiat options) available in Binance or Huobi? (Choose any one exchange to demonstrate) Have you ever used any of the fiat payment methods to trade your USDT? Examples/Screenshot?

For this, I select BINANCE APPLICATION.In Binance we get multiple payment methods.

Here I add one of my payment as *** PAYTM***, for this just log in to your account.

Then select Top left corner

On clicking it you get this window. From this select Payment Method.

You get this window

Then select P2P Payment Methods, you get this window.

Then select Add Payment Method

In this list, you can add which payment method is good for you. Here I selecting PAYTM.

Just enter Account Name, Paytm number, then select confirm.

Then after you need to verify with Google Authenticator or through SMS.

That's it now I successfully add a new payment mode of PAYTM to my Binance Account.

In mobile also we can do P2P transactions very easily.

Like that, we can add our needed payment method very easily.

Question Number 5:-

What is the minimum amount you can trade in the P2P Market(USDT) of Binance or Huobi? (Choose any one exchange to demonstrate)

Minimum 100$ needed for P2P, Bellow 100$ not possible to trade in Binance.

For buying or selling, we need 100$ in Binance.

I don't know about Huobi conditions for P2P. Because I always use Binance Only.

Question Number 6:-

Have you ever transferred TRC-20 USDT from Binance to Huobi and vice versa? How much cost do you save using Tron Network as compared to ERC-20 USDT?

Yes, I have Experienced on transfer funds from one Exchange to Another Exchange through USDT.

For my trading needs, I do this transaction.

For USDT, We must use TRC 20 network because here it takes only $1 as a Transaction Fee.

If we choose ERC 20 network, we need to pay nearly 20$ as a Transaction Fee. It is very high. For micro traders this is another burden, so always use TRC 20 network for Transaction your founds

But some times some exchanges do not support TRC 20 Network, so we just need to bear that fee.

For Example, Uniswap Transaction needs we must go through ERC 20, Coinlist also only support the ERC network. So in this situation, we must bear that high Transaction fee. No other choice.

But there is one way through FTX EXCHANGE, We can reduce this fee from 20$ to 5$. So for this needs use FTX EXCHANGE.

Hope I finish all my Homework Task correctly. If any mistake I made, pls verify me.

Thanks for reading my post.