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Guide Cryptocurrency

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125 views27 pages

Guide Cryptocurrency

Uploaded by

ernesto ndjoli roku
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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CRYPTO

CURRENCIES
as a payment method

GUIDE
CRYPTO
Cryptocurrencies are virtual
currencies.
Encryption is used to ensure
the security of transactions
with this digital asset
FIAT CURRENCY VS.
CRYPTOCURRENCY

Fiat currency is traditional money, such


as USD, BDT, EGP, EUR, IQD, MAD, etc.
Fiat money is controlled by governments and
central banks. Cryptocurrencies are essentially
decentralized, mostly through a distributed
digital registry called Blockchain
THE MOST POPULAR
CRYPTOCURRENCIES

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Binance Coin (BNB)
4. Litecoin (LTC)
5. Dogecoin (DOGE)
6. Monero (XMR)
7. Solana (SOL)
BITCOIN (BTC)
BTC is the first and most popular
cryptocurrency created in 2009.
Bitcoin uses blockchain technology to ensure
transaction security and transparency.
Its peculiarity is a limited issue size (21
million BTC), which makes it an attractive
investment vehicle. However, the risk of
investing in Bitcoin can be high because the
price of Bitcoin can fluctuate widely.
ETHEREUM
(ETH)
ETH is is the second most popular
cryptocurrency launched in 2015. Ethereum
uses blockchain technology to create
decentralized applications and contracts.
Ethereum also allows the creation of its own
cryptocurrencies, called tokens, based on its
blockchain platform. One of the advantages of
Ethereum is its lower price compared to
Bitcoin and the wider possibilities for using
blockchain technology. However, the risk of
investing in Ethereum can also be high
because its price can fluctuate.
BINANCE
COIN (BNB)
BNB is a cryptocurrency issued by the Binance
exchange.
Binance Coin is used to pay trading fees on
the Binance exchange and can also be used to
buy other cryptocurrencies on the exchange.
Binance Coin also allows you to participate in
various promotions and loyalty program on
Binance. One of the advantages of Binance
Coin is its stability in price compared to other
cryptocurrencies. However, the risks of
investing in Binance Coin can be associated
with the risks associated with the Binance
exchange.
LITECOIN
(LTC)
LTC is a cryptocurrency created as an
alternative to Bitcoin. One of the main
differences between Litecoin and Bitcoin is
that Litecoin block generation time is only 2.5
minutes, which is much faster than Bitcoin (10
minutes). Another advantage is the extensive
use of the encryption algorithm, which is used
to ensure transaction security. Litecoin also
has lower transaction fees than Bitcoin.
However, the risk of investing in Litecoin can
also be high because Litecoin's price can
fluctuate, just like other cryptocurrencies.
TRON (TRX)
TRON (TRX) is a cryptocurrency and
blockchain platform for developing and
running decentralized applications (DApps), as
well as for ensuring scalability and high
network performance.
TRX on the TRON network is used to pay
transaction fees and execute smart contracts
on the TRON platform.
TRX as a cryptocurrency is very scalable, as
TRON has high throughput and is capable of
processing a large number of transactions in a
short time. It is also decentralized and its
participants can participate in the
development of the project. The downsides
include high competition from other
blockchain platforms, price volatility, and
regulatory risks.
STABLECOINS

Stablecoins are cryptocurrencies whose value


and price are tied to the price of traditional fiat
currency. Unlike cryptocurrencies such as
Bitcoin, their prices remain stable.
Most often, such currency is the U.S. dollar.
Examples of stable coins are
Tether USD (USDT)
Binance USD (BUSD)
USD coin (USDC)
TETHER
STANDARDS
Tether USD (USDT) ERC-20 token
format for transfers to the
Ethereum network
Processing Time 5 minutes
TRC-20 (TRX) - USDT token
standard in the TRON ecosystem
Processing Time 2 minutes

BEP-2 - the standard ecosystem of the


Binance cryptocurrency exchange
BEP-20 - Binance Smart Chain Smart
Contracts Platform Standard
P2P-exchanges
P2P (PEER-TO-PEER)
TRADING REFERS TO
TRANSACTIONS DIRECTLY BETWEEN
TWO USERS.

Users can buy or sell cryptocurrency using fiat


money or other cryptocurrencies,
communicating with the seller or buyer directly,
without intermediaries. P2P technology is used
in such well-known cryptocurrencies as Bitcoin
and Ethereum, as well as in various DeFi and
NFT projects.
HOW TO USE
1. Create a TRON Wallet:
First of all, you need to create a TRON
Wallet, such as TronLink, Klever or Trust
TETHER (USDT)
Wallet. The wallet must support the TRON
network so you can receive and send TRON
ON TRON:
and USDT.

2. Buy TRON (TRX)


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3. Find a P2P exchange:


Find a P2P exchange that runs on the
TRON network, such as PoloniDEX or
JustSwap. These exchanges allow you to
buy or sell USDT using TRX. You can find
other exchanges that run on TRON by
searching online.

4. Transfer TRX to your


wallet on the exchange:
Once you have registered with a P2P
exchange, transfer TRX to your wallet on
the exchange. This step is usually done
using the exchange's deposit feature.

5. Buy USDT with TRX:


Once you have TRX on the exchange,
you can buy USDT with TRX using the
buy function on the P2P exchange.

6. Withdraw USDT to
your wallet
7. Use USDT on TRON After buying USDT on a P2P
Now that you have USDT in your TRON exchange, you can withdraw USDT
wallet, you can use it to send and receive to your TRON wallet. This step is
payments, buy other cryptocurrencies, or usually done using the withdrawal
use it as a stabelcoin to store value. function on the exchange.
PLATFORMS FOR
P2P EXCHANGE :
Many cryptocurrency exchanges (e.g.,
Binance, ByBit, KuCoin, and OKX) offer
internal P2P trading platforms. As a
rule, they offer the same features and
differ only in the set of coins and
payment options.
P2P exchangers:
Paxful P2P
Localbitcoins P2P
HODL HODL P2P
BINANCE P2P
Binance's P2P exchange platform offers over
80 fiat currencies, 150+ payment services, and
0% commissions for all users. A cash transfer
option is supported.
Trading on Binance P2P requires
KYC (Know Your Customer) verification
(Name, date of birth, e-mail, phone number,
country and address of residence, ID
(passport, license, etc)) and
connected 2FA: SMS-notification or
authenticator code.
BYBIT P2P
Cryptocurrency exchange Bybit also offers a
platform for P2P transactions. More than 80
payment methods are supported, including
bank cards, major payment systems and cash
transactions.
USDT, BTC, and ETH are available as
cryptocurrencies. You can trade in conjunction
with ~30 fiat currencies. ByBit does not
charge for P2P trading.
OKX P2P
OKX has relatively low trading commissions
(with the possibility of reducing them) and
offers flexible deposit/withdrawal methods.
The exchange has no stringent requirements
for KYC.

Of the means of payment, there are all the


major banks and services. There are also
filters: you can filter out merchants that we
have dealt with before, as well as subscribe to
them and track them separately from the rest.
KUCOIN P2P
The cryptocurrency exchange KuCoin has its
own P2P-exchanger.
Other cryptocurrencies are available for some
fiat currencies, such as PAX and CADH. There
are no commissions for P2P transactions.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
1. Log in to your Binance App and tap
[Trade] - [P2P].
Alternatively, tap [P2P Trading] from the App
homepage.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
2. You can use the Express or the P2P zone to
trade with other users.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
2.1 P2P Zone
Tap [Buy] and select the crypto you want to
buy. You will see the available offers on the
market. Tap [Buy] next to the preferred offer.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
You will see the seller’s payment information
and terms (if any) at the bottom. Enter the fiat
amount you want to spend under [By Fiat], or
tap [By Crypto] to enter the crypto amount you
want to get. Tap [Buy] to confirm the order.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
2.2 Express Zone
Tap [Buy] and select the crypto you want to
buy. Enter the fiat amount you want to spend,
or tap [By Crypto] to enter the crypto amount
you want to get. Tap [Buy with 0 Fee] to
confirm the order.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
3. Tap [Make Payment] and you will see
details of the seller’s preferred payment
method. Transfer funds to their account
accordingly within the payment time limit.
After that, tap [Transferred, notify seller].
You may tap [Chat] to contact the seller at any
time during the trade.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?

Important Note: You need to transfer the


payment directly to the seller through a bank
transfer or other third-party payment platforms
based on the seller's payment information. If
you have already transferred payment to the
seller, do not tap [Cancel] unless you have
already received a refund from the seller in
your payment account.
Do not tap [Transferred, notify seller] or
[Confirm payment] unless you have paid the
seller.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
4. The order status will be updated to
[Releasing]. After the seller confirms your
payment, they will release the crypto to you
and the transaction is complete. You can view
the assets in your Funding Wallet.
HOW TO BUY CRYPTO
VIA P2P TRADING ON
THE BINANCE APP?
Note:
If you cannot receive the crypto within 15
minutes after tapping [Transferred, notify
seller], you can contact the seller directly
by tapping the [Chat] icon on the top. You
may also tap [Appeal] to contact
Customer Support agents for assistance.

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