Binance exchange announced on January 20 that it is adding a service to buy and sell directly from Vietnam Dong (VND) with BTC, USDT, ETH and BNB coins in VND via the Binance P2P platform on the session. the latest version of the Binance iOS and Android mobile apps.
What is Binance P2P?
Binance P2P is a peer-to-peer trading platform. This platform helps users of Binance to buy and sell cryptocurrencies with fiat currencies directly on the exchange.
VND is the second currency available on Binance’s P2P exchange, after the Chinese Yuan (CNY). Additionally, Changpeng Zhao (CZ) reiterates Binance’s ambitious plans to expand fiat-to-crypto access on Binance to users in more than 180 countries to achieve its mission of freedom of monetization. surname.
Instructions to buy and sell Bitcoin in VND on Binance exchange
Just like other exchanges. If you do not have an account at the Binance exchange, you can register here.
You can download the latest version of the Binance iOS and Android mobile apps here. When registering, you enter your referral ID: 29171587
If you already have an account on Binance, you must meet the following requirements.
- SMS verification enabled account
- Account has done KYC successfully
It is also very important for you to be able to buy Bitcoin on the Binance exchange with VND is that you have to complete the account verification, sign the agreement and install the Fiat.
You can click on the banner as shown
or you can go to the trading toolbar below and select cash transaction
Next, select the “…” icon on the top right of the screen. Then select the guide as shown.
Select “Sign the agreement”
Continue to select “I have read and agree…) Once you have signed you will receive
Buy Bitcoin on Binance P2P exchange
Step 1: Add Payment Method.
You access and “account” and then select “Fiat settings”.
Please choose your bank payment method.
Then, enter the required information as shown in the picture and click “Confirm”.
Finally, you enter the 2FA code to confirm or you can also choose to receive by SMS.
Step 2: Select the coin and enter the amount you want to buy or sell.
Go to Transactions and select cash.
At the card “Buying” Please select the coin you want to buy. Then look at the prices in the coin bowl ads and choose the price you want and press the “Buy” button. Usually the best prices will be prioritized for you to choose but will depend on the seller’s limit.
Note, there are 2 tags “Buy fiat” and “Buy crypto“. With a fiat card, you enter the amount of VND you want to buy. Also, with a crypto card, enter the amount of coins you need to buy.
Step 3: Transfer money in VND and confirm payment.
Within 15 minutes you need to make payment according to the information provided. Once the money is transferred, click the “Mark as paid” button.
Sell Bitcoin on Binance exchange to VND
Step 1: Transfer coins to fiat wallets for sale.
Click “Funds” -> “Transfer” to switch from “Floor Wallet” to “Cash Wallet”.
Next, you choose the coin you want to transfer to your Fiat wallet for sale and enter the amount. Finally, click the “Confirm” button.
Next, you enter the 2FA authentication code.
Step 2: Sell coins that you transferred to a fiat wallet.
You click “Go to transaction” to complete the transfer to the fiat wallet and proceed to buy and sell coins.
This step is the same as the buying step I introduced above.
But this step you need to note, you should wait for the buyer to transfer the money first to the account before you confirm to open the coin for sale.
Important notes when buying and selling P2P
- The seller only unlocks the coin after receiving the money.
- You have the right to appeal if you have not received the money the buyer has confirmed to pay you.
- Buyers when transferring money absolutely do not write in the notes section with content related to coins and cryptocurrencies. If you put the coin in the transaction, the bank will have the ability to block the payment or freeze your account.
- It is not recommended to cancel transactions more than 3 times in a day. If you do, you will be banned from trading for the rest of the day.
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