Table of Contents
Peer-to-peer (P2P) trading is growing fast in Nigeria, and many Nigerians, especially Gen Z’s, are now making cool money from it. The P2P market is worth around $500 billion. In 2022 alone, Nigerians traded over $100 million in crypto using P2P platforms; in 2023, Nigeria recorded the highest P2P trading volume in the world.
Binance is one of the biggest crypto exchanges around the world and is helping more people trade this way. Binance P2P platform lets users buy and sell crypto directly using Naira or other local currencies. P2P trading gives people in Nigeria a great chance to earn money online. This article will explain how Binance P2P works, how to stay safe, how to sell with Binance P2P, why you should trade with Binance P2P, and more.
What Is P2P Trading?
P2P trading is a type of trading in which cryptocurrency buyers and sellers interact directly and carry out transactions without the assistance of a middleman. Similar to when you click on a merchant’s advertisement on Twitter or Facebook to complete a transaction.
You do not require assistance in speaking with the merchant. Depending on your arrangement, the merchant will hand the item to you once he receives his cash or vice versa. But P2P trading is a little different. The P2P platform offers some form of protection to ensure that the demands of both consumers and sellers are addressed.
The platform keeps the seller’s cryptocurrency until the seller confirms that he has received payment from the buyer. The cryptocurrency is subsequently released to the buyer after payment has been confirmed. The escrow system is what is helpful for this.
P2P trading makes it possible for anyone, anywhere, to trade cryptocurrency directly with another person on their terms. P2P trading is quicker than the conventional method of buying and selling cryptocurrency through an exchange because you don’t need to keep an eye on charts or other market aggregates. Additionally, you can be sure of safeguarded transactions if you use Binance P2P.
How Does Binance P2P Work?
Binance P2P network leverages escrow technique to ensure the security of user transactions. Cryptocurrencies like Bitcoin, Ethereum, Binance Coin, USDT, etc., can be traded, utilising more than 300 payment methods and over 60 fiat currencies.
Moreover, users can browse crypto adverts, submit ads, or trade cryptocurrency. Meanwhile, you must first create an account with Binance and undergo an identity verification process.
P2P businesses are also vetted to confirm that they operate a legitimate businesses. Users are also required to make the most of the platform’s chat area to make sure they understand the details of their trade. Binance implements these safeguards to guard against theft and fraud.
Making an account is simple. To register, you will require a passport, ID card, or driver’s license for the verification process. Also, you will need to upload a selfie and finish the face verification process.
How To Sell Crypto With Binance P2P
- Create a Binance account on the Binance app or website
- Verify your account
- Go to the P2P trading section
- Choose the cryptocurrency you want to sell
- Select a buyer
- Initiate the trade
- Transfer the Bitcoin to your chosen buyer
- Confirm that you’ve received payment
- Release the Bitcoin
Why Trade With Binance P2P?
1. Customized Trading Options
Unlike conventional trading techniques like spot trading, Binance P2P offers a more personalised trading experience with more than 300 payment methods, including SEPA and bank transfer, and more than 150 local currencies.
2. Adequate Security Framework
Every trade made on Binance P2P goes via our escrow service to guarantee a secure trading environment for users. You will temporarily receive crypto once you find and begin working with a potential buyer until you confirm the money has arrived in your bank account. You can submit an appeal if a problem emerges during the transaction, and our customer support will assist in fixing it.
3. Trade With Zero Charges
The Binance P2P marketplace enables takers to trade with no costs, unlike standard crypto exchanges that charge a small fee for each transaction.
How To Make Money Trading On Binance P2P
1. Understand Binance P2P
Binance P2P is a platform where users can buy and sell cryptocurrencies directly with each other using local currencies like the Nigerian Naira (NGN), or Ghanaian Cedi (GHS).
Unlike normal trading, P2P allows you to set your price, choose who you trade with, and use local payment methods such as bank transfers or mobile money. Binance acts as a middleman by locking the crypto in escrow until the transaction is complete, which helps protect both the buyer and seller. Understanding this system is key to using it to make profits.
2. Buy Low, Sell High (P2P Arbitrage)
The most common way to make money on Binance P2P is through arbitrage—buying crypto at a lower price and selling it at a higher price.
For example, you can buy 1 USDT at ₦1,700 and sell it at ₦1,800. That gives you a profit of ₦100 per USDT. If you trade 500 USDT, that’s ₦50,000 profit. To do this, watch the prices of other ads on the platform, look for users selling at a lower rate, and sell to those buying at a higher rate. This requires fast action and good timing.
3. Cross-platform or cross-region arbitrage
You can also make money by buying crypto on Binance P2P in one country or platform and selling it in another where the price is higher.
For example, you can buy USDT in Nigeria, send it to a Ghanaian Binance account and sell your USDT there for more. This works well in countries with different exchange rates or when local demand varies. Some users also buy on Binance and sell on Paxful or local exchanges. However, before doing this, you must understand the fees, transfer times, and currency laws.
4. Become a verified merchant
Merchants on Binance P2P get special privileges. Once you become a verified merchant, you can create custom ads, set prices, and attract more buyers.
People trust merchants more because of their verified status and high trading volume. This means you’re more likely to get regular trades, which increases your daily profit. Becoming a merchant requires consistent trading, completing many successful transactions, and following Binance’s rules. Over time, merchants can earn from small price differences because they trade in large volumes.
5. Make the most of market timing
Making money on Binance P2P is also about knowing when to buy and sell. For example, if you know the local currency is about to lose value or there is a high demand for USDT (during import or exam season), you can buy ahead and sell later at a higher price.
Also, prices tend to rise during weekends or holidays when bank transfers are delayed. Monitoring the market and staying updated with economic news will help you take advantage of these opportunities.
6. Build a strong reputation
Success on P2P depends on trust. If you respond quickly, pay promptly, and complete transactions without issues, you will earn positive ratings and attract more buyers. People prefer to trade with sellers who are reliable, verified, and have a high completion rate. This helps you stand out and increase your trade volume, which means more money. Avoid cancelling trades and always communicate clearly to keep your reputation strong.
7. Be security conscious
To avoid losing money, always follow safety guidelines. Never release your crypto before you confirm the payment has arrived in your bank account. Do not accept screenshots or third-party payments as proof.
Also, don’t take your transactions outside the Binance platform, as that removes the protection of the escrow system. Stick to verified users, and don’t click unknown links or provide personal info in chats. Being cautious protects your money and helps you build a long-term business on P2P.
Frequently Asked Questions (FAQs) About How To Make Money Online With Binance P2P In Nigeria
Does Binance P2P work in Nigeria?
Yes, Binance P2P works in Nigeria. You can buy and sell crypto directly with other users.
How do I make a profit in P2P Binance?
You can profit by buying crypto at a lower price and selling it at a higher price. Many users also earn from the price difference (arbitrage) between payment methods or platforms.
Is Binance P2P safe to use?
It is safe to follow the rules and only trade within the Binance platform using the escrow system.
Conclusion
Are you ready to start making money on Binance P2P? Sign up on the website or the app to start your trading journey. Trading and making money on Binance P2P is not just for seasoned experts alone. Even if you’re a newbie, you can easily make money online with Binance P2P trading by becoming a verified merchant. All you need is your smartphone and data, and you can start making money.
Last updated on August 4, 2025
