How to buy USDT or BUSD using P2P Trading
The importance of stable coins to crypto currency traders when trading or investing in crypto currencies is synonymous to the need of a tool box for a workman, craftsman or artisan when working or designing his craftwork.
There are so many stable coins in the crypto space and the two most demanded of them all are the USDT and the BUSD. The USDT is the digital Tether US Dollars and the BUSD is the Binance US Dollars. They are the most common and sort out stable coins that is bought and sold the most by traders all over the world; with USDT occupying the position of the third rank crypto currency based on its market cap.
How can I buy USDT and BUSD?
Trading P2P (peer to peer) is the most common and easiest way to acquire these two peculiar stable coins while other methods includes buying with a card, using a decentralized exchange (DEX) to swap other crypto currencies into USDT or BUSD or trading other crypto assets on a centralized exchange like Binance into USDT or BUSD.
To use the P2P platform to buy and sell crypto, there are certain criteria to be met; they include
§ First, create a free trading account via https://accounts.binance.com/en/register?ref=65177765
§ Next, go to account profile; and complete an identity or KYC verification by providing any of these accepted identity document- An International Passport, A voter’s card, A National I.D. Drivers License.
After successfully completing your KYC, you can now deposit funds and buy crypto currency such as Bitcoin, USDT, BNB, BUSD, Ethereum etc using P2P via link: https://p2p.binance.com/en?ref=65177765
Step by Step Guide to Buy USDT or BUSD in CEX (Binance Exchange)
· Login to your trading account, Click P2P trading from Home window.
· Next select one of the two options available to buy P2P from the platform.
· The first option is default P2P — trading with more offers and the second is Express- one click buy and sell.
To buy USDT or BUSD from P2P (default)
§ Simply click Buy and select any of the posted ads as shown in Fig 1.
§ Before selecting a trader to buy from; ensure to check that the P2P trader has a good number of trades, a high percentage of completed trades; the posted price is what you are willing to pay and the quantity of USDT you want to buy is within the seller’s limit. Once all checks are done, click the seller post ad to buy.
§ In the next window as shown in Fig 2, input the quantity of USDT or BUSD you want to buy or total amount equivalent you want to spend.( i.e. either 10 USDT or its equivalent in cash e.g. #5,000)
§ In the next window, Use the chat or call option to alert the trader you are making payments so they can release your asset quickly, then copy the payment details and make payments.
§ After making Payments, click “Transferred next” and wait for seller to release your USDT or BUSD.
§ Note this process takes from about 5 to 15mins to be completed.
To buy USDT or BUSD from P2P Express
§ Click the drop down arrow close to P2P and select Express (Fig 3)
§ In the next window as shown in Fig 4, input the quantity of USDT or BUSD you want to buy or total amount equivalent you want to spend ( i.e. either 20 USDT or its equivalent in cash e.g. #10,000)
§ In the next window, a P2P merchant with the best price is automatically selected and you can use the chat or call option to alert the trader you are making payments so they can release your asset quickly, then copy the payment details and make payments.
§ After making Payments, click “Transferred next” and wait for seller to release your USDT or BUSD.
§ Note this process takes from about 5 to 15mins to be completed and the minimum quantity to buy from the P2P Express is 20 USDT or BUSD.
For more details on using the P2P platform to buy Bitcoin or any other crypto; visit the Binance academy via link: academy.binance.com/en/articles
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