Binance P2P’s Learn & Trade Challenge Details
1. If you don’t have Binance account then create first from the link given below.
2. Take the quiz Click on the button given below..
3. Now select all correct quiz options
4. Promotion A: Learn About Binance P2P to Get a 1 USDT Token Voucher!
5. The first 300 eligible users who answer all questions correctly will each receive 1 BUSD. (First come, first served basis)
6. Promotion B: Complete Your First Purchase on Binance P2P to Get a 3 USDT Token Voucher!
7. Promotion Period: 2023-05-05 08:00 (UTC) to 2023-05-20 08:00 (UTC)
Binance P2P’s Quiz Answers Promotion A: New P2P User Only
Q1. What is P2P trading?
Ans: Peer-to-peer trading, where you buy and sell directly with another person without going through a middleman.
Q2. Who can use Binance P2P?
Ans: Only Binance users who have completed the identity verification process.
Q3. What are the benefits of using Binance P2P?
Ans: All are correct.
Q4. Which wallet is used for Binance P2P Trading?
Ans: Funding wallet
Q5. What should I do when the buyer sends me proof of payment via P2P chat, claiming that they have paid?
Ans: Check my bank or e-wallet balance to see if the fiat has arrived, make sure the buyer’s verified name matches the sender’s name, then release crypto.
Q6. What should I do if the counterparty asks me to provide my social account or phone number?
Ans: Do not send & insist on communicating through Binance P2P chat only.
Q7. What is a potential scam when selling crypto on Binance P2P?
Ans: Any of the above.
Q8. Will Binance P2P send me messages in the chat box asking to release funds while a transaction is pending?
Ans: Binance P2P will only send Risk Alerts in the Chat Box.
Q9. What should you do if you paid extra money to the seller?
Ans: A and B are correct.
Q10. What should you do if the seller asks you to cancel the order after you already paid him?
Ans: I should never cancel the trade after I completed the payment because if I do that, the cryptocurrency will be released from the escrow service and returned to the seller’s wallet. Instead, I should mark the transaction as paid, then open an appeal and attach proof of payment.