Is Binance P2P profitable?

Binance P2P can be profitable, especially for those who act as merchants on the platform. Merchants earn by posting trading ads and completing trades, benefiting from low-fee structures, and sometimes participating in special promotions. The platform's zero trading fees policy ensures that traders can maximize their returns without deductions for transaction fees, enhancing profitability. Plus, if you regularly indulge in Binance P2P trading, you can even earn using the frequent disparities between the buying and selling prices of USDT or any other supported crypto.

Is P2P safe on Binance?

Binance P2P is generally considered safe. It uses an escrow service to hold the cryptocurrencies until both parties confirm the transaction's completion, providing a layer of security against fraud. However, there has been a recent rise in the number of P2P-led scams, with some buyers sending disputed funds to the sellers, leading to the latter being targeted by the authorities.

Is Binance P2P legal in the U.S.?

Even though Binance doesn’t explicitly offer P2P services in the U.S. due to regulatory challenges, some users rely on VPNs to locate cash-based zones. However, this is not safe and not recommended considering Binance’s sophisticated location-tracking tools.