"Learn With Steem Contest: how to Sell Crypto on Binance's P2P App"

Introduction:

Hello buddies, it is good to have you here today. I trust you are doing fine and having fun with your loved ones. Indeed, I am so excited to have you here. In my previous learnwithsteem post, I discussed practically how to buy funds, sell, and transfer to your Steemit wallet using Roqqu Wallet. Today you are going to learn how to sell cryptocurrency on the Binance P2P App.

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As a new Binance user, when you open your Binance P2P App, you will see something like: P2P trading, Ad, Payment window, etc.

P2P trading: This stands for peer-to-peer or person-to-person trading, which is the first way to buy, sell, or trade cryptocurrencies on the Binance exchange.

Ad: This simply means advertisement, and it's done when a peer-to-peer user broadcasts their trading requirements for traders and investors to see. It is from the ad that you will get to see the fiat currency you're to pay, the total amount of crypto to buy or sell, the price payment window, the order limit terms and conditions, and the nickname of the user.

Payment window: This means the period of time that is set by a maker to show the period of time that he or she is expecting to receive payment. It usually ranges from 15 minutes to 30 minutes to 45 minutes, etc.

Now let's get straight to the practical aspect of selling cryptocurrency on the Binance P2P App. All that is required here is just a simple click.

How to Sell Cryptocurrency on BINANCE P2P App

Here I will first show you how to convert one cryptocurrency to another using the Binance Convert.

• Log in to your Binance account and click on "Trade."

Once you have clicked on "Trade," click "Convert" and select the crypto you want to convert. In my case, I converted 210 TRX to 13.268 USDT. I love using Binance Convert because of the zero fee and speed. All the steps that I took are shown in the screenshot below.

In this case let's take a quick look at how to sell the $13.268 case, on the Binance P2P App.

Step 1: Login to your hot Binance account and click on "Wallet."

Before clicking on "Wallet," ensure you already have the accepted cryptocurrency that is traded on the Binance P2P.

Step 2: Click on "Funding," select the cryptocurrency you want to sell, and transfer it to your P2P wallet. You will see the transfer from funding wallet to P2P wallet. Enter the amount and click on "Confirm Transfer," as shown in the screenshot.

Step 3: You can decide whether to click on "P2P" from the funding tab or the homepage. In that case, click on P2P trading, and you will be taken to the P2P place.

On the P2P tab, click on "Sell" and select the crypto that you want to sell for fiat and Enter the amount of crypto to sell, and automatically, the system will calculate it and show you the amount of fiat you will receive. Select your payment method and click "Sell with 0 Fee."

Note: Please ensure that you confirm the order details before you click "Sell."

Step4: The status of the order will be shown as "Pending Payment." At this point, you have to wait for the payment to transfer the funds to your preferred payment method that you selected within the time limit. You can also chat with the buyer or contact the buyer.

Step5: After the buyer has made the payment, the status of the order will then change to "Release Crypto to the Buyer," as shown in the screenshot.

At this point, ensure that you have received the funds into your preferred method of payment before clicking on "Payment Received" and then "Payment Received."

Step6: After you have clicked on "payment receive," you will be promoted to confirm the release of the crypto with either an OTP code that is sent to your phone or 2FA devices.

Step7: At this point, the order will be completed, and the buyer will receive the crypto in his or her Spot Wallet.

Note: In a case where you have any issue during or after the trade, you can contact the buyer, and the buyer can also contact you if there is any breach of contract. In doing so, you can as well click on "Contact Binance Customer Support Agent" for an assistant.

P2P trading is very secure and faster. Binance's P2P trading makes use of the Escrow system. The escrow is an automatic device, i.e., a mechanism that holds any cryptocurrency that is waiting to be transacted between buyer and seller, or vice versa. It protects both the buyer and the seller so neither can cheat the other. I have to stop here so you can find a reason to ask questions.

Written by:
@josepha
Cc:-
@fredquantum

I am inviting my friends: @simonnwigwe, @dave-hanny, @preye2, @ebeke, and @entity01.

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