Binance launches cash-for-crypto exchange via P2P platform

The cryptocurrency exchange Binance has introduced cash-for-crypto transactions via in-person meetings.

#Binance P2P Supports Cash-in-Person Transactions as a Payment Method

➡️ https://t.co/EKhvgIcAAw pic.twitter.com/Uqjb7oVZ1h

— Binance (@binance) October 19, 2020

Qualified merchants can use the service through Binance’s P2P peer-to-peer platform. The exchange supports Bitcoin, Ethereum, USDT, BNB, BUSD and EOS.

“Users will be able to directly buy and sell cryptocurrency through the chosen offer, and then hand over or receive cash in person,” the company said.

The exchange warned users of the risks associated with cash-for-crypto trades. Company representatives urge users not to use third-party messengers for communication, not to agree to meetings in suspicious locations, and to carefully count the money before confirming the deal.

Earlier, on October 18 Binance withdrew 2 253 888 BNB tokens worth $68 million from circulation. This burn was the largest in USD terms and the fourth-largest by amount in BNB.

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