Earlier this year, Binance announced as almost a miracle the launch of its P2P platform. But has it been as successful as expected? What is the most important market?
Binance P2P: 8 key points to understand its advantages
Brief description of Binance P2P
Binance P2P came to the crypto market as an important solution for many of the problems of cryptologists. And, as expected, the platform has been a major success.
Yesterday, Binance made a post on its blog where it claims that since the launch of the Vietnamese Dongs (VND) trade in January, the platform has processed a total volume of $300 million so far this year.
“Our local P2P merchants are the heroes behind the exponential growth of P2P trading. They play a key role in providing liquidity and trading services to our users, and facilitating the adoption of cryptography in Southeast Asia,” reads the Binance release.
Certainly, Binance P2P reduces frictions between fiat – crypto trading and therefore reduces transaction costs and increases liquidity.
But, Binance wanted to ask the three main P2P traders in Southeast Asia directly how they successfully built their local business.
VipTrade: Financial Freedom
Binance tells us that VipTrade is one of the first Vietnamese traders to register at Binance P2P. And, since January, it has managed to complete more than 10,000 orders on the platform.
“I have a lot of clients who want to invest in crypto currencies but don’t know where to start. I help them invest and convert cryptomonies into trust money, and then I make money,” the trader explained to Binance.
In this sense, from VipTrade’s perspective, Binance P2P is a platform that offers you the opportunity to make money. However, no one said it would be easy.
VipTrade works more than 12 hours a day on the platform and, to stay competitive and popular, manages to complete more than 200 orders per day. On top of that, it also keeps release times at very competitive levels.
VipTrade claims that its work has been rewarded and that it is “very close to financial freedom”.
Binance P2P launches the option to post your own ads
BloomX: Record trade
Bloom is a crypto trading firm in the Philippines and was founded in 2015. However, in June of this year, the platform joined the crypto exchange under the name BloomX.
Interestingly, during its first month, BloomX reached a total trading volume of 1,000,000 USD. This has made it the first Philippine trader to achieve this level.
“The BloomX team attributed its success to its ability to provide a very professional trading experience at the most competitive prices,” the publication said.
But not only that, but their plans include extending to a fully automated 24/7 operation with upcoming enhancements to Binance P2P.
In addition, the BloomX team sees Corona Millionaire P2P as a platform that has opened the doors to the world of cryptomoney.