How to Buy a Digital Bitcoin
Many people may want to invest in and profit from cryptocurrencies and are seeking to buy bitcoin as it is one of the world's most developed cryptocurrencies and its value increases rapidly and is therefore one of the best areas for digital investment, but they do not know how to buy bitcoins and how to sell bitcoins .
The easiest way to buy "bitcoin"
There are
several ways for buying bit coin, and on this topic, we will talk about one of the
easiest ways to carry out bitcoin sales and trading this method is done via the
Binance Peer-to-Peer platform, and we will discuss the advantages and
disadvantages of the free market on the Binance platform.
Binance P2P Platform
The Binance Platform is one of the most popular central platforms for trading cryptocurrencies, enabling direct buying, and selling in the instant market. Cryptocurrency rates can also be speculated through Future Markets. It can also be purchased directly from the platform via a bank card. The purchase of bitcoin from the Binance P2P platform can be done by the free market Peer to Peer Market, which we will clarify on this subject.
The free market
is not controlled by the Binance Platform but only managed by it to prevent fraud.
Therefore, the Binance Platform does not contribute to improving liquidity in
the market as well as controlling currency rates and imposes only a small fee
on licensed sellers.
The sale of
cryptocurrencies in this market takes place directly between the seller and the
buyer and through windows that allow the Binance platform to perform censorship
to ensure that no deception or similar events occur.
In the free
market, there are many sellers and buyers as well as Vendors and these are the
sellers trusted by the platform. The buyers are always advised to deal with them as
they are trusted and have a long period of dealing with the platform do not
perform any form of deception as they leave deposits on the platform as a type
of security which gives them greater confidence and credibility in dealing.
Ways to Buy and Sell Bitcoin via the Free Market at Binance P2P
Initially, the
seller and buyer identify their preferred payment methods, often trading in
local currency cash, for example, if trading in Europe will be selling and
buying in euros, and if for example in Saudi Arabia it will be in Saudi riyal
and so on or maybe all trading and buying in US dollars. Preferably in the
local currency of any country.
The method of
sale and purchase is as follows: When you enter a transaction to sell Bitcoin
to someone else, your Bitcoin will be booked and frozen through the platform,
where you cannot control or withdraw it until the transaction is made or canceled.
After doing so,
you will wait for the other party to pay the money you agreed to against
Bitcoin. This money can be transferred through various bank transfers to your
account, e-wallet or so. When the money reaches you make sure that you will
then press a button to send Bitcoin to the other person's wallet in the
platform, and case you are the buyer you will take the same steps.
Sales and purchases at Binance P2P
To
be sold and purchased, you must first create an account on the platform and
then go through all KYC procedures including a bank statement as well as a home
invoice for proof of residence and a passport for proof of identity.
After
that, the user will be able to access the free-market icon or so-called P2P to
perform digital customer trading, selling, and purchasing. The currency is also
selected against Bitcoin. The currency is selected at the top right of the
page, as well as the preferred seller is selected. Vendor valuations can be
found to be able to handle good sellers.
In
the same way, as purchases are made, first, choose the right seller, choose the
payment method, and make sure that you pay the correct account. After the
payment is completed, let the platform know that the payment has been made and
the seller will show a notice that you made the payment after which it will
press the icon (Release crypto), and then bitcoin will be transferred to your
e-wallet in the platform.
Important tips for trading cryptocurrencies via the P2P
There
are some tips to consider when registering an account on the Binance platform
and starting to sell and buy bit coins cryptocurrencies, those tips should be followed and
the following should be followed:
- Dealing through the free market is through the (Funding) portfolio and therefore if the funds are in another portfolio such as Spot, they must first be transferred to the Funding portfolio.
- Before purchasing bitcoin on the P2P free market, you must first ascertain the valuations of the sellers and then decide to deal with any seller based on the valuations put forward by previous dealers with this seller, but in any case, the rights of all dealers are reserved thanks to the Binance platform's smart system.
- Upon completion of the payment, proof of this must be taken by making a screenshot, shooting a receipt, or payment notice.
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