Instead of waiting endlessly on pointless micro-jobs like online surveys that will pay once in a while, you can start making money daily through spot trading, which is why this tutorial is going to walk you through How you can make 10 dollars every day with Binance P2P Trading, but it is important to understand:
What P2P Trading is on Binance
P2P trading on Binance stands for peer-to-peer, which means that a buyer and a seller are dealing without any involvement of a centralized third party.
How Does Binance P2P Trading Work
This is when you already have crypto and want to sell it; you will go to the Binance P2P session and create an order for someone to buy from you, and of course, you can also buy from someone through the same medium in the buy session, add your profit and resell them.
When you go to the P2P session on Binance; you will see many trades, and you can buy or sell, but you will need a Binance account before you do that. If you don’t have one; you can create one by clicking here. After creating your Binance account, ensure you have verified your KYC, which will be shown on your profile.
How To Get to the P2P Section on Binance
1. Once you have your account fully set up and verified, first, switch your account from the lite to the Pro version of Binance. And you can do that by clicking on the Binance logo, then the footer section
2. After that, click on Wallet, then Funding, and you will see P2P. (You can even type P2P in the search bar on the main page To open the p2p page)
3. On the P2P page, you will see the Buy and Sell section then, tap on the Buy section, and you will see a whole bunch of crypto coins listed for sale. The default crypto coin will be USDT.
How To Buy Crypto on Binance
1. To buy Crypto on Binance, ensure you are on the P2P page, then switch the coin you want to buy. If, for example, Bitcoin or any other crypto coins, you can click on the dropdown arrow and switch to the coin you prefer to buy.
2. Before you buy, ensure you check the limit you can buy from each seller, and once it meets your budget, click on Buy, enter the amount you want to buy, select your Payment Method, click on Place Order, and the seller will serve you through the Escrow.
How To Sell Crypto on Binance through P2P
This is when you have crypto and want to sell, and to do that, ensure you are on the P2P page, but this time, on the Sell section.
- Once on the sell section, you can see that the first trader has a limit on the amount he buys, which is 1000 cedis to 250,000 cedis. So, if you have that amount of crypto in your Binance account for sale, you can click on Sell.
- Then, enter the amount you want to sell
- Select the payment method, which is MTN Mobile Money.
- Enter the MOMO number and confirm, then I will go ahead and click on Place Order.
- You will see the number of coins equivalent to cedis, then wait for cedis in my momo wallet.
- Once the buyer finishes paying, Binance will alert you to confirm Payment received, then click on Payment Received.
- click “I have verified that Payment of … cedis has been received from the buyer.
- Binance will again prompt you to verify whether Payment is in. If everything is intact on your end, click Confirm Release.
- Binance will ask you to verify your passkey, and they will automatically send the crypto from your account to the buyer.
Before you see your crypto coin, ensure you have moved the amount of cryptocurrency to your funding wallet. So, if you have the coin in your spot wallet, transfer it to Funding.
How To Post Your Crypto on Binance P2P
To post your crypto Ad for sale on the Binance P2P for Trading, ensure you are on the P2P page:
- Then click on the three-dot icon and click Advertisement Mode.
- Click on Confirm
- Then click on the Plus + Sign.
- Switch to the Sell section and click on Next.
- Now, enter the total amount of crypto coins you have for sale, then click on add to add your Mobile Money number. Lastly, click on Next to post your crypto for selling.
How To Make $10 on Binance P2P Trading EveryDay
Now that you know how to Trade with Binance P2P, let’s look at how you can make money with it every day.
- Assuming you come to the Buy page on the P2P section and someone, for example, a seller, is selling for 15.47, you can buy and resell for 15.90 or 15.91.
- And you buy 2000 cedis worth of crypto at 15.47, which is around $129, and resell them at 15.90; you are going to earn anything between 5.11 cedis and 6 cedis per trade you do, and you can go as much as ten times daily making you almost 60 cedis which is equivalent to $10 every day. which is nearly 1800 cedis monthly.
- However, the more money you start with, the more you earn. For instance, I don’t usually buy my crypto coins directly from Binance; I buy from people outside Binance at a moderate rate.
- Let’s say the standard rate now is 15.47 cedis; I will buy it at 15 cedis from my suppliers. So, for instance, if I buy $25 which is 387 cedis, and I sell it on Binance at 397 cedis, it makes me a 10 cedis profit for a single trade.
- If I manage to trade, let’s say, $250 in a day, I will earn 110 cedis.
Conclusion
There is more to Binance p2p trading; this is just a beginner guide, and I will discuss it in my future article. However, you can watch the above video if you prefer the video version of this tutorial. “We Go Talk More.”
