Binance Launches Peer-to-Peer Trading


October 9, 2019 10:22 pm

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Binance, one of the most popular cryptocurrency exchanges has launched peer-to-peer trading for Bitcoin (BTC), Ethereum (ETH), Tether (USDT) against the Chinese currency (CNY). According to the announcement, Binance revealed that the service will be available for Android users who already have Binance accounts registered for at least 30 days.

The announcement also states that users should update their Binance Android app to the latest version to get access to the new service. The new service will slowly roll out support for iOS and web interface going forward. Changpeng Zhao, Binance CEO tweeted that Binance’s foray into P2P trading won’t stop with the Chinese market.

The CEO added:

“P2P Trading, starting with China. Most of CT probably can’t use it yet, but 1.4 billion people can. We will expand the service to other regions soon.”

Last month, Binance announced that it is allowing its customers to purchase digital currencies using debit and credit cards via Koinal, a payment processing firm. Through Koinal, customers can buy cryptos such as BitcoinEthereum, Litecoin, and Bitcoin Cash. The payment processing company charges 2.5% per transaction, with the purchased assets which can take five to 20 minutes to reach a Binance wallet.

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