Steem cryptoacademy:- home work post season 2 week 1:- P2P Market by professor @sapwood.

Hey there everyone. This is @prakhar9675. And this post is for Home work given by professor @sapwood.

So let's get started.

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

So to set up your exchange niche in P2P in binance. You need to complete your KYC.

In india, users can complete their KYC using Aadhar card and PAN card.
To know that you are KYC varified or not, click on the top left corner in the app and click on that option.
And the you will see sign varified adjoined to your number/name.

After completing your KYC:-

Open the app and tap on the P2P options on the app and then click on the right corner.

then click on the advertisement mode and you are ready to go

Explain how to buy or sell USDT on the P2P Market?

So let's understand how to buy USDT on binance.

1. Open the app, and go to USDT option and then tap on it. And then click on buy.
   

2. And then you will see a interface like this. Here you will see many dealer selling their USDT.
   
   On a advertisement, you can see the price for one USDT, and below it, you can see total available USDT to that dealer. and below that, you can see price limit that is accepted by that dealer. You cannot buy USDT off that limit.
   And on the right corner, you can see the option to but USDT and also you can see the mode of payment that is accepted by the dealer for example UPI, Paytm or any other.

3. Select the right dealer according to your comfort. And then click on the option buy.
   And thus you can buy USDT

4. Now after transferring the amount to the seller's account. You can buy USDT.
   

Now for selling your USDT, click on the top most left corner and switch to the option sell.

And then check all the buyers and according to your comfort, click on the option sell.
And this way you can sell your USDT

You can buy or sell USDT by posting ads.

To post ads, first you need to set payment method.
To set payment method, click on the option profile, and then go to payment methods.

And then click on add payment option. As you can see I have already added one method, you can do it by clicking on that option.

After this, click on the option Ads, and click on the post an ad option. And you will see a interface like this.

Now click on the buy or sell option.
And then chose fixed or floating price type.
Floating price keeps changes according to the change of USDT.
So to keep yourself safe from risk, I will suggest you to set it to fixed.

And then click on next

Now enter total trading amount. I have entered 100 as it is the lowest one can enter.
And then you will see a option to add payment option. From here too you can add payment option.
And then click on next

And then on the next interface, you can set your own term and set auto-reply according to your interest.
And then chose online or offline. I have chose offline. By clicking this you can make your post online anything manually.
And then click on post

Now for example, if you want to buy USDT, go to buy section and then click on buy, to any dealer you are comfortable with

And then enter the amount for which you want to buy USDT.
And then check all the payment option available and then transfer the money according to your comfort to his account.

And then after some time, when you transfer the money to his account, click on option transferred and when the funds are transferred to his account, seller will release the USDT and you will see a interface with order completed written on it.
And also by tapping on the chat option you can also chat with the dealer.

Now if you want to sell your spot wallet USDT through P2P. Then you will have to transfer those from spot wallet to P2P wallet.
To do this, click on the wallet option and then click on the option P2P.

After that, click on the option transfer and then again click on transfer.

And then select USDT and then select from spot wallet to P2P wallet and then click on transfer.

And you are done. And now similarly you can transfer your P2P wallet USDT to spot wallet.

How does escrow protection help a buyer and seller?

Escrow protection is a protection that keep safe buyers and sellers from being scammed.
It manages the funds of buyer and seller and protects from being scammed and hence makes a fair trade to happen.
When a buyer places order, the fund from the seller's account is transferred to the escrow service account. And until both parties give their permission, it remains there and when both parties give confirmation, it is transferred to the buyers account.

If any buyer places order and transferred the money and seller is not releasing the fund, in that case buyer can appeal to the customer service. And customer service will ask both of them to send their respective bank account statement. And funds are transferred to the right owner.
And it also works in case when buyer marked that he has paid but seller doesn't get money.

As I haven't trade much and I didn't face any issues so I never appealed to customer service.

What are the different payment methods available on Binance or Huobi? (Choose one of the exchanges to view) Have you ever used a fiat payment method to trade your USDT? Examples / screenshots?

Binance support many payment methods from where you can send money to the seller and receive from the buyer To add a payment method. Click on the profile and then click on payment method. And from there you can add payment method.

From there's you can add your payment method.

From here you can add IMPS, UPI, Paytm or Bank transfer or almost every bank.

I have already added my payment method.

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

On binance, minimum amount of trading of USDT is 100.
When I was setting up my ad, I tried to set it to but 50 USDT. But I couldn't do it as minimum limit is 100 USDT.

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?

Sorry, but as I am using it not for so long, so I haven't transferred USDT from huobi to binance or vice versa.
But whenever I will continue to trading, I will try to do it.
But I know that when you transfer USDT from binance to huobi, through ERC 20 you eill be charged 20 USDT but using TRC 20, you will be charged only 1 USDT. This is pretty less.

As I told you I haven't transfer any USDT, I gathered this knowledge from my friend @rishabh99946. He once told me about it.

Cc
@sapwood