How To Make Money From Binance p2p Arbitrage

Nairaexchange

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Everyone wants to make money from cryptocurrency(make money from Binance p2p) but not so many people understand how to make money from cryptocurrency using the various available crypto platform.

This article will be focused more on how to make money from the Binance p2p exchange. I choose Binance because it’s one of the most popular and widely used crypto trading apps in the world. So, you will learn the method of making money from Binance arbitrage.

Arbitraging is simply taking advantage of the price difference between the buying price and the selling price of any commodity. We will focus more on stable crypto called USDT and we will be buying it at a lower price and selling at a higher price.

The price of USDT is equivalent to the price of the USD. 1USD is equivalent to the #500 Naira in Nigeria. Therefore, 1USDT is also equivalent to #500 Naira. The idea of making money through the binance p2p exchange is very simple. We will buy 1USDT at #500 Naira and sell it at #502 Naira, making a profit of #2 Naira per 1USDT.

You cannot make money from the Binance p2p exchange if you use the p2p exchange for immediate buy and sell at advertisers' rate. This is because the buying price is always higher than the selling price.

For example, if the buy rate is at #502 Naira per USDT, then the sell rate will be at #500 Naira per USDT. Therefore, it is not possible to make money through the finance p2p exchange as a user.

However, there is a way to make money through the finance p2p exchange by simply reversing the above method. Instead of buying directly from advertisers, why not set an ad to buy from users at a lower rate?

TradeAdvertisers/MerchantsUsers
#502 NairaSells at #502 NairaBuys at #502 Naira
#500 NairaBuys at #500 NairaSells at #500 Naira

As you can see from the table, advertisers/merchants buy low(#500/USDT) and sell high (#502/USDT). Users, on the other hand, buy at a higher price (#502/USDT) and sell at a lower price (#500/USDT). This is exactly how making money from Binance p2p through the arbitrage system works.

This video will show you all you need to know to start making money from Binance p2p arbitrage system.

Binance arbitrage

How to post an ad on Binance p2p​


To post advertisements on the Binance p2p exchange, certain conditions need to be met.

1) Ensure your registration time is up to 30 days.
2) Make sure your first trade is up to 30 days.
3) Complete your identity verification and SMS authentication.
4) Ensure the number of your p2p order is up to 20 orders or above.
5) Make sure your order completion rate in the last 30 days is 80% or above.
6) Number of unique trading counterparties should be 10 or more counterparties.

After all the above requirements is met and completed, then you can place your first ad on Binance.

To place ads, go to the p2p exchange interface and click on the three-dot icon(…) on the top right-hand corner of the page. Then click on “advertisement mode” to change to advert mode.


binance p2p

On the advertisement mode/merchant interface, click on “profile”, then on “more” like you have it in the image below.



Clicking on more as stated above will allow you to see if you have completed a total of 20 trades on Binance.



To post your first ad after reaching the minimum of 20 trades, click on “Ads” from the menu and then on “Post Ad”. The image below will guild you through the process.


binance post ad

If this is your first ad, you will be prompted to enter your “Nickname”. As you can see from my profile, my nickname is “Haon123”. So choose any nickname you are comfortable with. Remember that the nickname should not be your real name.

After setting your nickname, you’ll be redirected back to where you’ll click on “Post Ad” again. This will take you to the first ad page as seen below.

On the first page of the ad, you’re expected to select whether to buy or sell. However, in this article, I’ll focus on “Buy”. The process for buying and selling is very similar. Let me also say to you that, when placing a buy order as a merchant, the order will appear as sell on the user interface.

Next, we will select the asset we want to buy. In this case, we’ll buy USDT. We will be buying USDT with Nigeria Naira. If you’re not a Nigerian, select the currency of your country and proceed to the next step on this page.

Additionally, we need to select whether we want our buying price to float or stay at a fixed amount.

“Floating” means if the price of the asset increases, my buying price will also increase. If the price of the asset decreases, my buying price will also decrease in accordance with the current rate.

“Fixed” on the other hand means, that if the price of the asset increases, my buying price will remain the same. If the price of the asset decreases, my buying price will still remain the same.

I choose the “Fixed” price and I input the price I want to buy USDT at #507.06 Naira. Then click on “Next” to proceed to the next page.


binance p2p first ad page

On the second page, we need to input the “Total Trading Amount” which is a minimum of 100USDT. It cannot be lesser. So, the minimum amount of USDT you can buy is 100USDT which is equivalent to #50,702.14 Naira. This amount needs to be in my Nigeria bank account because I will continue to receive orders until the 100 USDT amount I selected is completed.

Next is the “order limit”. This is a breakdown of the minimum and maximum amount of USDT someone can sell to you per time. So, we set it to #1,000-#10,000 Naira. Any order that will come will be within that range per time until the total of 100USDT is completed.

Furthermore, you need to select a “Payment Method”. Do you want to send money to the person selling USDT through bank transfer or Paypal or skrill, etc? In this case, I selected bank transfer because I have the Naira in my Nigeria bank account.

Next, select how fast you’ll be able to make payment to the seller’s bank account for confirmation. It can be 15 minutes or 30 minutes or 45 minutes depending on what you want. In this case, I selected 30 minutes.

However, if the network in your area isn’t good enough or you are slow in making transfers, select a higher time frame. Always ensure you make payment as fast as possible for you to have good ratings and positive feedback.

Click on “Next” and proceed to the third page.


make money from Binance p2p

The third ad page is where we need to set our terms and conditions. We can also set our automatic response to anyone that decides to sell to us. Look at the examples of those that already set their ads and construct your own accordingly.

Additionally, we can also set counterparties requirements but I’ll suggest you leave it as it is. Making any changes to it will reduce your ad exposure.

Select that you are “Online” and click on “Post”. However, if you don’t want to go live yet, you can choose “Offline now” and then publish manually later.

When all is set and done, click on “Post”.


binance p2p third ad page

Congratulations your ad is now online. Start expecting orders to come in and start making money. Click on “Done” or click on (>) to see the details of your ad.



As you can see, my buy ad is now being displayed on the sell for me to buy from users willing to sell to me at the price I set (#507.06 Naira per USDT).



Finally, since you’re the one to be making the bank transfer, you can be charging #50-#100 per each transfer to cover up for the bank charges incurred during the transfer. This is another way of getting more money into your pocket.

However, know that charging extra money to cover transfer charges is not acceptable by Binance. If you forcefully charge your client #50-#100 without their agreement and the matter is escalated, your account will be suspended.

Therefore, chat with your client and ensure he or she agrees to your terms before proceeding with the transfer. Build good relationship with your customers and take this as a business.

Conclusion


To make money from Binance p2p using the arbitrage system is simple if you follow the steps stated above. The money you make per USDT might be little but understand that with multiple orders daily, you can become a millionaire in two months.

Click HERE to register on Binance.

You can also download the Binance app from the google play store and use my referral code: 127098943

Read my other article on Top 5 Online Money Making Sites In Nigeria

Kindly share this article on social media and ask your questions in the comment section below.

I love you all.
 
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