How to Use Binance P2P to Convert INR to USDT: A Step-by-Step Guide
Cryptocurrency adoption is rapidly growing in India, and Binance P2P (Peer-to-Peer) trading has emerged as one of the most convenient ways to buy crypto with Indian Rupees (INR). If you're looking to convert your INR into USDT (Tether), this detailed tutorial will walk you through the entire process step by step.
What is Binance P2P?
Binance P2P is a platform within Binance that allows users to buy and sell cryptocurrencies directly with each other. It acts as an escrow service to ensure secure transactions, holding the crypto until both buyer and seller fulfill their parts of the trade.
Unlike centralized crypto exchanges that require intermediaries or banks, P2P platforms let you transact directly with other users, often with no trading fees and a variety of payment methods, including UPI, bank transfer, and IMPS in India.
Why Convert INR to USDT?
USDT (Tether) is a stablecoin pegged to the U.S. Dollar, which makes it less volatile than cryptocurrencies like Bitcoin or Ethereum. Many Indian traders prefer converting INR to USDT because:
It serves as a stable base currency for trading.
It’s widely accepted across exchanges and DeFi platforms.
It acts as a store of value in the crypto space.
Pre-requisites Before You Start
Before you can start trading on Binance P2P, make sure of the following:
1. Binance Account: You must have a verified Binance account with completed KYC.
2. Bank Account or UPI ID: Required for receiving or sending INR.
3. Enable P2P Trading: In the Binance app or website, go to the P2P section and accept the terms and conditions.
4. Security Settings: Enable 2FA (Google Authenticator or SMS verification).
Step-by-Step Guide to Convert INR to USDT on Binance P2P
Step 1: Open Binance App or Website
Log into your Binance account.
On the home screen, tap on “P2P Trading” or go to Trade > P2P on the web version.
Step 2: Switch to the "Buy" Tab and Select USDT
By default, you may see BTC as the selected cryptocurrency.
Tap on "BTC" and select "USDT".
Ensure the fiat currency is set to INR.
Step 3: Filter Sellers Based on Payment Method
Use the filter option to select your preferred payment method, such as UPI, IMPS, or Bank Transfer.
You can also set a minimum and maximum amount range depending on how much INR you want to convert.
Step 4: Choose a Seller
When selecting a seller, consider the following:
Price per USDT: Lower is better for buying.
Order Limit: Ensure the seller’s minimum and maximum transaction range includes your amount.
Completion Rate & Number of Orders: Look for sellers with 90%+ completion rate and 100+ trades.
Time Limit: This indicates how long the seller usually takes to release crypto after payment.
Once satisfied, tap “Buy USDT”.
Step 5: Enter Amount and Confirm Order
Enter the amount in INR or USDT.
Tap on “Buy with 0 Fee” to initiate the transaction.
You’ll then see the seller’s payment information (UPI ID, account number, etc.).
Step 6: Make Payment to the Seller
Open your payment app (e.g., PhonePe, GPay, Paytm, or your bank app).
Transfer the exact INR amount to the seller’s account using the specified payment method.
DO NOT add any crypto-related notes like “USDT,” “crypto,” or “Binance” in the payment note to avoid bank issues.
Take a screenshot or note of the transaction ID for proof.
Step 7: Mark Payment as Done
After making the payment, go back to Binance and tap “Transferred, Notify Seller.”
Binance will notify the seller to confirm the receipt of payment.
Step 8: Wait for Crypto Release
Once the seller verifies your payment, Binance will release the USDT from escrow to your Funding Wallet.
This process usually takes a few minutes, depending on the seller's response time.
Step 9: Transfer to Spot Wallet (Optional)
If you want to trade USDT for other cryptocurrencies, go to Wallet > Funding > Transfer and move your USDT from the Funding Wallet to your Spot Wallet.
Tips for Safe and Smooth Transactions
Trade with verified merchants or high-rated users.
Never release payment before transferring funds.
Avoid last-minute order cancellations as it affects your profile.
Be prompt and polite in the chat section with sellers.
Check seller reviews and response time.
What If There's an Issue?
If the seller doesn’t release crypto after payment:
1. You can use the “Appeal” button.
2. Binance support will step in and ask both parties to submit proof (screenshots, transaction IDs).
3. Binance will resolve the dispute based on evidence.
Conclusion
Buying USDT with INR on Binance P2P is simple, fast, and secure if you follow the steps carefully. It allows Indian users to access global crypto markets with ease and minimal fees. Whether you’re a beginner or an experienced trader, Binance P2P is a reliable gateway for entering the crypto ecosystem using Indian Rupees.
By staying cautious, selecting the right sellers, and understanding the
process, you can make your first INR to USDT transaction confidently and safely.
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