Is Binance P2P Legal in India?

Binance P2P is Legal in India and here is the step-by-step guide to buying and using it

Binance is continually analyzing and adding new cryptocurrencies to the Binance platform. If you want to acquire P2P, which is presently not listed on Binance, follow the instructions below. It will teach you how to buy P2P by linking your crypto wallet to a decentralized exchange (DEX) and purchasing the base currency with your Binance account.

Download a TrustWallet Wallet

Within the Ethereum network, there are various crypto wallets to select from, with TrustWallet appearing to be the most integrated. If you're using a desktop computer, install Google Chrome and the Wallet Chrome extension. If you prefer to use your phone, you may download the wallet from Google Play or the iOS App Store, if it is available. Just be sure you download the official Chrome extension and mobile app from the TrustWallet website.

Set up your TrustWallet

Register and configure the cryptocurrency wallet using the wallet's Google Chrome extension or the mobile app downloaded in Step 1. You may get more information on the wallet's help page. Keep a record of your wallet address and your seed phrase safe. Steps 4 and 6 will make use of it.

Buy Ethereum as Your Base Currency

Log in to your Binance account and navigate to the Buy & Sell crypto page to acquire Ethereum.

Send Ethereum to Your Crypto Wallet from Binance

After purchasing Ethereum, navigate to your Binance wallet area and check for the Ethereum you purchased. Click withdraw and provide the necessary details. Set the network to Ethereum, then input your wallet address and the amount to send. Wait for your Ethereum to show in your TrustWallet after clicking the withdraw button.

Choose a Decentralized Exchange

There are various DEXs to choose from; simply ensure that the wallet you choose in Step 2 is supported by the exchange. For example, if you use the TrustWallet wallet, you may conduct the transaction at 1 inch.

Connect Your Wallet

Using the wallet address from Step 2, connect your TrustWallet wallet to the DEX you want to utilize.

Exchange your Ethereum for the coin you choose

Choose Ethereum as your payment method and P2P as the coin you wish to buy.

If P2P does not appear, look for its Smart Contract

If the coin you seek does not display on the DEX, you may look up the smart contract address at https://etherscan.io/. Then, copy and paste it into 1 inch. Be wary of scammers and double-check that you have the legitimate contract address.

Apply the Swap

After you've completed the preceding steps, click the Swap button.