Binance, Most methods to buy cryptocurrencies today exclude Venezuela from among their options. ButBinanceone of the largest exchanges in the world took this as an opportunity giving a person-to-person (P2P) service for buying and selling cryptocurrencies for all of Venezuela.
It generates a simple to use market and at the same time very efficient. In this market the purpose is simple they unite users who want to buy cryptocurrencies with Bolívares with someone who wants to sell cryptocurrencies and wants the Bolívares. Which on the page they refer to as VES referring to Venezuela and S to sovereigns which is the current monetary cone at the time of writing this article.
What do I need to buy cryptocurrencies in Binance with Bolívares?
There are two requirements, one quite obvious and another that we must do to maintain the security of the P2P service. This second is given thatBinanceneeds at least to be able to validate the user on the other side is a real person and the data they entered into the platform are not false. Without further ado, the requirements:
- We must complete account or identity verification also known as KYC (know your customer). This verification will ask for a document proving that we are who we say we are, whether it be our ID card or passport. It should be scanned or photographed but in good quality so that those verifying our identity can read the data if it is the ID card, ID or identity document. It is important to have a photo of both sides of the same, the passport only needs the identity page, with this and our postal address we can easily verify our account with them.
- The money for the transaction.It may seem trivial but it happens quite often that we do not calculate how much we need to buy certain amounts and end up running during a transaction. So the best is to have everything on hand and organized for the moment of buying or selling, since we have a time limit.
With these requirements we can already make a transaction in the P2P market ofBinancewithout any problems. That said, keep in mind that it is a commitment to make the purchase when introducing the amount and generating the order.Binancerecords our purchases and shows an average % of completed operations if we try to trade with someone.
What cryptocurrencies can I buy with Binance P2P?
Currently at the time this article is written they handle a total of 6 coins. Of which 2 are the most known cryptocurrencies and we will explain a little about the others so that you know them better:
- Bitcoin(BTC):The most well-known currency in the cryptocurrency market and the most named by everyone. Anyone who has heard of cryptocurrencies knows that it was the first of all.
- Ethereum(ETH):Currently it is the second most known cryptocurrency and many applications work on it, it has a huge development currently.
- BNB:This cryptocurrency was created byBinance, varies in its price like any cryptocurrency in the market.
- USDT:This cryptocurrency has a stable value, equivalent to 1 USD exactly, it is part of a project called Tether
- BUSD:Like the previous one, it is a stable currency promoted byBinance, basically also worth 1 USD each BUSD
- DAI:Despite not having the nomenclature of USD, DAI is also part of the stable coins. Like USDT and BUSD, they are all equivalent to 1 USD
As we can see we have 3 cryptocurrencies with changing value as such and 3 stable coins that we can buy. This gives us options when buying and maintaining the value of our money. Especially when talking about buying a Stablecoin or stable currency whose value is fixed at 1 USD. The difference between the 3 is basically who carries the project so you can choose the one you prefer among the 3 if you only want to keep your money as USD withinBinanceand not do trading or stacking.
How much is the minimum I can buy of Cryptocurrencies in Binance P2P?
This doubt enters us all just when we have the intention of buying some cryptocurrency and even more so if it is with bolívares since for some it is quite complicated to get enough money. InBinanceP2P the minimum deposit is determined by the seller, varies depending normally on what we are trying to buy, but does not have a trend that we can highlight. So we must know if we reach the minimum when buying.
How to buy in this P2P market of Binance?
The steps to make a purchase are few, but we will guide you in those that are common for everyone alike. Once you give to buy it depends quite on the seller how to proceed and the payment option he chooses.
Payment method for Binance P2P Venezuela
As we are paying in Bolívares we have 2 options as it may seem, so you consider which is your best option to make the purchase or which one is easiest for you:
- Transfer from the same Bank. That is if the seller places the logo of the bank where you have the account with the money the intention is that. That the transfer be through that same bank and not from a third party and they almost always require it to be from the account of the holder ofBinanceto avoid future problems.
- Mobile Payment:The already so known in Venezuela mobile payment service is also available for most vendors. So it is a little more flexible and does not depend so much on which bank you have the money.
It is important to keep in mind that there is a time limit to make the transfer. Be careful with this since in some cases it does not exceed 15 minutes but everything will depend on the seller who decides the minimum time for the operation.
Once we have the seller and the payment method we must define how much we want to buy.
Keep in mind that when buyingBinancewill only keep the price for 30 seconds before updating it again. After all these are cryptocurrency markets so if the price of the transaction varies, the transaction also varies, but once we set a amount and give to buy. That amount will not vary.
What should I do when the order is active and the time starts running?
If you have any doubts about the seller's data you only need to write to him in the chat and if not just select the payment method. Make the transfer of the Bolívares. Once said transfer is finished we must mark it as completed and send a copy of the receipt to the seller so that he can validate it. Upon completion they will release our cryptocurrencies.
¿Dudas de los vendedores?, Busca uno con insignia amarilla.
If you have doubts about the sellers who appear inBinance P2Pand do not trust any even though they have many transactions. Look for those with a yellow symbol next to their name, these go through a much more rigorous process than the others to have said verified merchant symbol. So if you distrust everyone you can go with them thatBinancereviews them more than all other sellers.
It appears Limited instead of "Buy" in the P2P market
If you see this message it means you do not meet the minimum requirements that the merchant requests fromBinance. To be able to make an order with them. This is normally done by merchants who seek specific requirements or simply offer very high amounts that any person with 5 minutes on the P2P platform ofBinanceis willing to pay.
¿Quieres registrarte en Binance ahora que sabes como funciona el P2P?
If you want to register inBinancenow that you know how the P2P works and you are excited about the world of cryptocurrencieshere we leave a link so you can do it and join the large number of people who are entering this world of cryptocurrencies today,remember that it is a risk to have your capital in cryptocurrenciesthe price goes up and you can win but you can also lose, always keep that in mind.
