👉 Start trading on Binance today with this comprehensive C2C guide!
Understanding C2C Trading Basics
1. What Is C2C Trading?
C2C (Customer-to-Customer) trading enables direct transactions between users, commonly called "over-the-counter" or "fiat trading." Since most exchanges don't support direct fiat-to-crypto purchases, C2C platforms like Binance act as secure intermediaries between buyers and sellers.
2. Key Considerations for Binance C2C
- Requirements: Mobile number binding + KYC verification
- Withdrawal Lock: 24-hour hold after purchase
- Frozen Funds: Sellers' crypto is temporarily frozen during transactions
- Fee Structure: 0% trading fees
- Regional Variations: Available merchants depend on your KYC region
3. Supported Payment Methods
Binance C2C merchants accept diverse options:
- Bank transfers
- Digital wallets (LINE Pay, JKO Pay)
- Retail payments (7-11, Shopee)
- Cash meetings (Only at verified partner locations)
⚠️ Cash Meeting Alert: Never click "Paid" before physical payment completion to avoid 7-day account suspension.
4. Cost Structure
While Binance charges no fees, pricing varies by seller. Always:
- Compare exchange rates
- Choose established merchants with transaction history
- Prioritize verified sellers (gold checkmark badge)
Step-by-Step C2C Buying Process
Step 1: Navigate to C2C Platform
After logging in:
- Click "Buy Crypto"
- Select "C2C Trading"
👉 New to Binance? Register here first
Step 2: Select Currency & Payment Method
- Choose desired cryptocurrency (USDT, BTC, ETH etc.)
- Select fiat currency (USD, EUR etc.)
- Filter by preferred payment option
- Always opt for verified merchants (gold checkmark)
Step 3: Confirm & Purchase
- Enter transaction amount
- Review merchant details
- Click "Buy"
Step 4: Complete Verifications
If pending:
- Verify mobile number
- Confirm email address
Step 5: Timely Payment
- Complete payment within countdown period
- Late payments auto-cancel transactions
Step 6: Wallet Confirmation
Check received assets under:
- Wallet → Spot Wallet
Binance Trading Method Comparison
| Method | Fee | Notes |
|---|---|---|
| Exchange Wallet | 0% | Recommended for lowest cost |
| C2C Trading | 0% | Choose verified merchants |
| Bank Transfer | 0% | Slow processing (2-4 days) |
| Third-Party | 2-4% | High-cost alternative |
| Credit Card | ~3% | Use cashback cards to offset |
Data Source: Binance Official Website
FAQ Section
Q1: Is C2C trading safe?
A: Yes, when using verified merchants. Binance's escrow system protects both parties during transactions.
Q2: Why can't I withdraw immediately after purchase?
A: Binance imposes a 24-hour security hold to prevent fraudulent activities.
Q3: How do I identify reliable sellers?
A: Look for:
- Gold verification badge
- High transaction volume
- Positive user reviews
Q4: What's the minimum purchase amount?
A: Varies by merchant. Filter listings by your preferred transaction range.
Q5: Can I sell crypto via C2C?
A: Absolutely! The process mirrors buying, with you as the seller.
Disclaimer: Cryptocurrencies involve high risk. This guide shares educational insights only—not financial advice. Always conduct independent research.