P2P | Binance P2P to Shut Down the Cash Zone Option from April 2025

The Binance P2P Cash Zone is a service that allows users to buy and sell cryptocurrency for cash in person with registered merchants.

CryptoGuru··4 min read
 Binance, the largest cryptocurrency exchange in Africa and globally by both volume and users, has made the decision to wind down the P2P Cash Zone.

According to Binance, this decision reflects the company’s commitment to focusing on its core services and continuing to develop innovative solutions that best serve its global user base.

The P2P Cash Zone will officially close on March 31 2025.

Below is everything you need to know about how this affects your ability to place and complete orders:

Key Dates:

  • Placing New Orders: You can still place new orders in the P2P Cash Zone until 23:59 UTC+0, March 25 2025. After this time, no new orders will be accepted.
  • Order Fulfillment: Any orders placed before 23:59 UTC+0 on March 25 2025 will be processed as usual.
  • Full Closure: The P2P Cash Zone will close completely at 23:59 UTC+0 on March 31 2025.


What Are Your Options?


You can continue using Binance’s P2P platform through other available payment methods and services. Binance  advises users to explore these alternatives to continue trading seamlessly.

The Binance P2P Cash Zone is a service that allows users to buy and sell cryptocurrency for cash in person with registered merchants. It’s a peer-to-peer (P2P) platform that’s available in many markets. 

How it works:
  • Users can browse ads for cash-in-person payments in the Cash Ad Zone 
  • Users can visit a merchant’s store to trade in person using fiat currency 
  • Merchants can post ads in the Cash Zone to offer cash as a payment method 

Who can use it? 

  • The Cash Zone is a good option for people who want to exchange crypto for cash quickly and securely
  • It’s also a good option for users in unbanked regions or with limited access to financial services

 

What is Binance P2P Trading?

Binance P2P is a peer-to-peer marketplace that allows you to directly trade cryptocurrencies with other Binance users, using your preferred local currency, price and payment method. Binance P2P also focuses on safeguarding all users with added layers of security and 24/7 customer support. You can buy and sell on Binance P2P via web and on the Binance App.

 

How Does P2P Trading work?

The offers you see on Binance P2P are provided by other Binance users, and some are from more experienced P2P Merchants verified through Binance’s P2P Merchants Program. The P2P Merchants Program was launched to add an extra layer of trust in the P2P marketplace, and safeguard users from common P2P scams. You can identify a verified P2P Merchant by searching for a yellow badge next to their nicknames.

The platform offers users easier access to cryptocurrencies with more than 800 payment methods supported. Users can choose from a wide range of preferences for receiving/sending payments

For a comprehensive overview and explanation of key terms, see the Binance P2P Newbie Guide.

 

As a P2P Trader, How Am I Protected?

Binance P2P has escrow services in place for all trades, ensuring safe and fair trading.

See also

When an order is created, the amount of crypto being traded will be automatically reserved with Binance escrow and only released when the transaction is successfully completed on both ends. This process ensures that all trades are handled professionally and no amount is withheld from buyers or sellers.

 

For further details, read: How Am I Protected as a P2P Trader?.

 

Getting Started

All Binance users must complete identity verification to access Binance products and service offerings, including P2P trading. Before trading on P2P, you must also enable SMS verification and at least one 2FA device (email, Binance/Google Authenticator, or security key). This is to verify that users are carrying out the transaction themselves.

 

 

 

 

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