Can I exchange just $1 cryptocurrency on Binance P2P?

[Niyi Briggs]

@nomad says it is possible. But my experience being on the P2P platform shows that it is very difficult to find. Maybe it is not commonly found in my location and payment method.

 

[nomad]

@nomad says it is possible. But my experience being on the P2P platform shows that it is very difficult to find. Maybe it is not commonly found in my location and payment method.

When you do P2P trading on exchanges, you need to find traders in your location who can send funds to you in local currency. I can find many traders buying and selling crypto for as little as $1.

 

[Niyi Briggs]

When you do P2P trading on exchanges, you need to find traders in your location who can send funds to you in local currency. I can find many traders buying and selling crypto for as little as $1.

I would have to try that out because it always looks impossible from my end. Maybe, it would take more searching. Or it could just be that people in my location are not interested in trading that low.

 

[Bisolami]

I am starting out on Binance P2P and I wanted to exchange the little $1 I was sent on Binance Pay. When I entered the P2P interface, the first 30 people that were displays were only willing to exchange very huge amounts. I had to forget about exchanging my miserly $1 LTC.

Is it possible to exchange $1 on Binance P2P? How do you go about it?

I think so. I am not very sure but if you use the pay id option, it should be possible. As long as the other person is using Binance, it should be possible and very easy

 

[kirubel]

I think all p2p exchanging persons in binance have their minimum exchanging amount and some have a lots of minimum exchanging limit and others have as low as 5$ but never see a person on p2p who are welling to exchange 1$. But still you can make a deal with them.

 

[timewo]

In some countries Binance is allowing members to transfer the amount to their bank account. They are charging a fee of $0.5 for all transactions below $100 , and $1 for transaction above $100.

 

[Bisolami]

I think all p2p exchanging persons in binance have their minimum exchanging amount and some have a lots of minimum exchanging limit and others have as low as 5$ but never see a person on p2p who are welling to exchange 1$. But still you can make a deal with them.

It won't even make sense to exchange $1 because we have to thibk about the transaction fees and all. It is better to wait until you know that you have enough money maybe like $5 and above before you now decide to trade it for something

 

[kirubel]

the transaction fee is also need to be considered, and you are right paying transaction fee for exchanging 1$ will be ridiculous and its better to add some more money in order to cover the transaction fee and to get good transaction rate.

 

[IB D]

To trade $1 for fiat in Binance is not possible in my country. That is because you need about NGN5000 to be able to withdraw and 1 dollar is not up to that amount.