What are p2p and c2c in the currency circle? A brief overview of the differences between Binance p2p and c2c

The concepts of peer-to-peer (P2P) and over-the-counter trading (OTC) are very important for cryptocurrency investors. This article aims to explain the meaning of P2P and C2C, and analyze their similarities and differences by comparing these two services on the Binance platform.

Correspondence Circle P2P and C2C: Concepts and Differences

What are P2P and C2C?

• P2P (point-to-point): P2P refers to direct transactions between two individuals or entities without intermediaries. In cryptocurrency transactions, P2P refers to the user buying and selling cryptocurrencies directly with other users.
• C2C (customer to customer): C2C is also a direct transaction for users, but it is managed by a centralized platform such as Binance. The platform acts as an intermediary, providing transaction infrastructure, custody services and dispute resolution mechanisms.

The difference between Binance P2P and C2C

Binance's P2P and C2C trading methods use its platform to trade cryptocurrencies, but there are some things between them. Some key differences:

• Transaction Fees: In P2P transactions, the user pays the transaction fee directly to the other party, while in C2C transactions, the fee is charged by Binance.
• Anonymity: P2P transactions are more anonymous because users directly trade with each other, while C2C transactions need to be verified through the Binance platform.
• Trading speed: P2P transactions are usually faster than C2C transactions because they do not require the platform's processing time.
• Security: C2C transactions have higher security than P2P transactions, as Binance acts as a custodial agent and dispute resolution.
• Liquidity: C2C exchanges are generally more liquid because they bring together a large number of buyers and sellers.
• Transaction Method: P2P transactions can be conducted in a variety of ways, including bank transfers, peer-to-peer payment applications, and cash. C2C transactions are limited to payment methods recognized by the Binance platform.

What are the platforms in the currency circle that support P2P or C2C trading methods?

okx Ouyi official website entrance[adid]72b32a1f754ba1c09b3695e0cb6cde7f[/adid]

Ouyi official app[adid]66f041e16a60928b05a7e228a89c3799[/ adi]

Binance official website app[adid]7f39f8317fbdb1988ef4c628eba02591[/adid]

binance Binance official website entrance[adid]9f61408e3afb633e50cdf1b20de6f466[/adid ]

gate.io official website entrance[adid]072b030ba126b2f4b2374f342be9ed44[/adid]

Select P2P or C2C trading method Choosing a P2P or C2C trading method depends on personal preferences and trading needs.

P2P trading may be more appropriate for users who value anonymity, transaction speed and lower fees.
C2C trading may be a better choice for users who seek higher security, liquidity and ease of use.

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