can i do p2p on binance without verification

To engage in P2P trading on regulated platforms, such as Binance, KYC verification is a mandatory requirement due to regulatory compliance and prevention of illicit activities like money laundering and terrorism financing.

Oct 26, 2024 at 04:44 pm

Can I Do P2P on Binance Without Verification?

Peer-to-peer (P2P) trading on Binance allows users to exchange cryptocurrencies directly with each other, without the involvement of a central exchange. This provides greater flexibility and autonomy in the trading process. However, KYC (Know Your Customer) verification is typically required for P2P trading on regulated exchanges like Binance.

Verification Requirements for P2P Trading on Binance

Currently, Binance requires KYC verification for all users who wish to engage in P2P trading. This verification process involves submitting personal information, such as:

Government-issued photo ID (e.g., passport, identity card)
Proof of address (e.g., utility bill, bank statement)
Facial verification (selfie)

Reasons for Verification

Binance implements KYC verification for P2P trading to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This helps prevent illicit activities, such as money laundering, fraud, and terrorist financing.

Consequences of Trading Without Verification

Users who attempt to engage in P2P trading on Binance without completing KYC verification may face the following consequences:

Limited trading functionality: Trading limits may be imposed on unverified users.
Account suspension: Binance may suspend the accounts of users who fail to complete KYC verification.
Legal risks: Failure to comply with KYC requirements could result in legal liability.

Alternatives to Binance P2P Without Verification

If KYC verification is a concern, there are alternative platforms that offer P2P trading without mandatory verification, such as:

LocalBitcoins
Paxful
OKX

Caution:

It is important to exercise caution when using platforms that do not require verification. These platforms may have lower levels of security and could be more susceptible to fraud and illicit activities.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

BERA

$9.1498

814.98%

Trade Now
CAIR

$0.6290

76.55%

Trade Now
MWC

$34.6444

10.58%

Trade Now
CUDOS

$0.0106

8.88%

Trade Now
FLZ

$1.8752

7.69%

Trade Now
STPT

$0.0686

7.27%

Trade Now

Latest Crypto News

Kansas City Chiefs vs. Philadelphia Eagles Super Bowl LIX Official 2-Tone Dueling Flip Coin
2025-02-07 00:36:03
Fartcoin (FARTCOIN) Nosedives 60% in a Month, Is This a Dip Worth Buying?
2025-02-07 00:36:03
Chainlink (LINK) and Brett (BRETT) Holders Add Rollblock (RBLK) to Their Portfolios As a Crypto Haven
2025-02-07 00:36:03
Arctic Pablo Coin Leads the Pack of Best Cryptos for Beginners: Here's Why
2025-02-07 00:36:03
Bitcoin Mining Has Changed — It’s No Longer Just About the Price
2025-02-07 00:36:03
Bitcoin Faces Weak Retail Demand as the Number of Addresses Holding Between 0 and 1 BTC Declines
2025-02-07 00:26:03

Related knowledge

How to buy coins on Binance mobile version

Feb 04,2025 at 07:36pm

Key Points:Set up a Binance accountFund your Binance accountFind the coin you want to buyCreate a buy orderReview and confirm your orderStep-by-Step Guide:1. Set Up a Binance AccountDownload the Binance app from the App Store (iOS) or Google Play Store (Android).Create an account by providing your email address, password, and phone number.Verify your id...

How to view the market value ranking on Binance

Feb 03,2025 at 09:42am

Key PointsBinance is one of the leading cryptocurrency exchanges in the world.Binance provides a variety of features, including the ability to view the market value ranking of cryptocurrencies.The market value ranking is a list of cryptocurrencies, sorted by their total market capitalization.The market capitalization of a cryptocurrency is calculated by...

How to trade after recharging on Binance

Feb 03,2025 at 09:36pm

Key PointsUnderstand the Binance platform and its features.Fund your Binance account through various methods.Choose the right trading pair and order type.Monitor your trades and adjust your strategy as needed.Explore advanced trading options for increased efficiency.Detailed Guide on How to Trade After Recharging on Binance1. Understanding the Binance P...

How to create an address for withdrawal from Binance

Feb 05,2025 at 12:31am

Key Points:Understand the concept of cryptocurrency addressesGenerate a new address for withdrawal on BinanceVerify the address before withdrawing fundsSecurely store your cryptocurrency addressesMonitor your withdrawal transactionsHow to Create an Address for Withdrawal from Binance1. Understand Cryptocurrency AddressesA cryptocurrency address is a uni...

How to recharge Binance with QR code

Feb 03,2025 at 10:36pm

Key Points:Utilize Binance's QR code for a seamless recharge experienceUnderstand the process of generating a QR code for Binance depositsIdentify various methods for recharging Binance through QR codesExplore the advantages and security aspects of using QR codes for Binance rechargesComprehensive Guide to Recharging Binance with QR CodeStep 1: Generati...

How to buy spot from Binance

Feb 04,2025 at 05:24pm

Key Points:Understand the concept of spot trading on Binance.Create a Binance account and complete KYC verification.Fund your Binance account with supported currencies.Navigate the Binance spot trading interface.Place a spot trading order: Market order or limit order.Manage your spot trading portfolio and track orders.How to Buy Spot from Binance: A Com...