On the previous day, the crypto exchange firm has notified the growing urges from global clients for an increased level of liquidity, which is the ultimate reason that led to the development of the new P2P trading tool.
“In the past quarter, there has been increasing growth in trading volumes on Binance P2P platform, and we have constantly received requests for more fiat-to-crypto access from our global community. To meet the growing users demand, we are seeking credible merchants for Binance P2P trading platform globally.” Changpeng “CZ” Zhao – current head of Binance – remarked regarding the announcement.
Binance has witnessed a 30% upsurge, trading volume-wise, throughout January 2020. The Hong Kong-headquartered has experienced the highest figure in its average month-to-month traffic, with more than 10 million users.
iOS and Android-based traders will receive income when they run fiat-crypto trading promotions. Binance also offers its clients support, with zero transaction fees charged.
Binance has released its P2P platform earlier in October last year, but only a selected few of merchants have access to the platform, solely via invitations and referrals. Currently the platform is accessible by any individual, via open enrollment.
Binance will employ an “elimination mechanism” in its process of managing the quality of its users.