Binance: the P2P trading is here
Crypto

Binance: the P2P trading is here

By Alfredo de Candia - 9 Oct 2019

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A few hours ago, Binance announced the launch of P2P (peer-to-peer) trading, a system that will allow trading BTC, ETH and USDT against the CNY, which is the Chinese Yuan.

As can be read in the short press release published this morning by Binance, access to this P2P trading will take place first on the Android interface, then on the mobile application. In order to access this service, an account is required to have been registered on Binance for at least 30 days.

After the launch on Android, P2P trading will also arrive for iOS users and on the web interface. The decision to anticipate the launch on the Android version is probably due to the fact that the number of users using the platform from mobile is higher on Android than on iOS.

P2P trading allows the communication of two subjects, interacting directly with each other without any market for placing orders publicly, as soon as two users place matching orders, they are completed and the platform connects only those involved in the transaction.

This is certainly a point in favour for Binance compared to other exchanges in the crypto sector. Among other things, the company is increasingly interested in the Chinese market, given the number of users it might reach.

This is just the latest of the innovations that have just been introduced on Binance, especially on the mobile version: recently, in fact, Binance had launched lending, an option that allows users to earn money by lending their cryptocurrencies in exchange for an interest.

Now it will be necessary to see if other exchanges will also integrate this new feature. Moreover, the new DEX by John McAfee has just been released, allowing trading in a completely decentralised way.

It is always important to stay up to date in the crypto sector and keep the interest of users high, otherwise, there is a risk of closing as happened to Aphelion, which today has confirmed its closure after 2 years of activity.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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