How a peer to peer sale works on Binance, how to pick a buyer, and the one rule: never release until the money is in your own bank.
Intermediate
P2P means peer to peer: you sell your bitcoin to another person, who pays you directly by bank transfer or a local payment app. Binance sits in the middle and holds the bitcoin until you confirm you have been paid. It is the usual way to receive local currency in countries where an exchange cannot send money straight to your bank.
Careful: Binance's global platform and its P2P market are not available to US residents. If you are a US person, use Kraken. Elsewhere, check on binance.com that P2P is offered for your country and currency.
How escrow protects you
When you start a sale, Binance locks the bitcoin you are selling in escrow. The buyer cannot touch it and you cannot spend it. The buyer then pays you outside Binance, into your bank account. Only when you press the release button does Binance hand the bitcoin to the buyer. Until that moment the bitcoin is still yours. This is why the release button is the only thing a scammer wants from you.
Choosing who to sell to
Completion rate. Prefer buyers who complete nearly all of their orders. A low rate means many cancelled or disputed trades.
Number of orders. Hundreds or thousands of completed orders show a real track record. Avoid brand new accounts.
Verified merchant badge. Binance marks merchants it has verified. Start with those.
Payment method. Pick an advert that pays by a method you already use, into an account in your own name.
Limits and terms. Each advert has a minimum and maximum amount and its own terms. Read them before you open the order.
Before your first sale
Open an account on binance.com and complete the identity verification.
Turn on two-factor sign-in in the security settings.
In the P2P section, add your payment method: your own bank account or payment app, in exactly the same name as your Binance account.
Deposit BTC from your wallet: Wallet, Deposit, choose BTC, choose the Bitcoin network, copy the address, send a small test first.
Move the BTC you want to sell to your Funding wallet with the Transfer button. P2P sales are made from the Funding wallet.
Selling step by step
Open P2P and choose the Sell tab.
Select BTC as the asset and your local currency as the currency to receive.
Filter by your payment method.
Choose a buyer using the checks above and tap Sell.
Enter the amount of BTC to sell, choose the payment method that will receive the money, and confirm. Binance now locks that bitcoin in escrow.
Wait for the buyer to pay. The order shows a countdown. Keep all conversation in the Binance order chat.
When the order shows that the buyer has marked it as paid, do nothing on Binance yet.
Open your banking app yourself and look for the payment in your account balance and movements.
Check three things: the full amount has arrived, it is available and not pending, and the sender's name matches the buyer's verified name on the order.
Only then return to Binance, tap Payment received and confirm the release with your two-factor code.
Careful: NEVER release the bitcoin until the money is in your own bank account and you have seen it in your own banking app. A screenshot, a receipt, a PDF, an email or an SMS is not proof: all of them are easy to fake. No money in the app, no release, no matter what the buyer says or how the countdown looks.
Common scams
Fake payment proof. The buyer sends an edited screenshot or a fake bank email and pushes you to release. Check your banking app only.
Third-party payer. The money arrives from a name that is not the buyer's. It may be stolen, and your bank can freeze your account. Do not release. Open an appeal and follow Binance's instructions for returning the payment.
Chargebacks. Some payment methods let the sender reverse a payment days later. Prefer methods that are final in your country, and be wary of buyers who insist on a reversible one.
Pressure and hurry. Messages such as release now or I will report you are a tactic. A real buyer waits while you check.
Moving off the platform. Anyone who asks to continue on WhatsApp or Telegram, or to trade outside escrow, wants to remove your protection.
If something goes wrong
If the buyer has marked the order as paid and no money has arrived, do not release. Say so in the order chat, then use the Appeal button on the order so Binance support reviews the case. Keep your bank statement ready as evidence. If you released by mistake, contact Binance support at once from inside the app, but be aware that a release usually cannot be undone.
Good to know: In many countries most P2P adverts are for USDT, a token that follows the dollar, and there are fewer buyers for BTC directly. Some owners convert BTC to USDT on Binance first and sell that. The escrow rules are exactly the same. Whichever you sell, download the order history for your accountant: a sale is a taxable event in many countries.