Cryptocurrencies like USDT (Tether) have become increasingly popular, especially for online transactions and trading. However, buying USDT from Binance P2P in Nepal can be challenging if you don’t know where to start. In this guide, I’ll explain how to buy USDT from Binance P2P using eSewa or a bank transfer step by step. I’ll also share some tips based on my personal experience to help make the process smoother. Let’s dive in!
Introduction
If you’re in Nepal and looking to invest in cryptocurrencies like USDT, Binance P2P (Peer-to-Peer) is one of the best platforms to use. Binance allows you to directly trade USDT with other users, offering convenience and competitive rates. The good news is, you can use popular Nepali payment methods like eSewa or bank transfers to buy USDT.
When I first started buying USDT in Nepal, I was confused about the process. However, after going through it step by step, I realized how simple and efficient it can be. This guide is designed to provide you with all the information you need to buy USDT on Binance P2P in a secure and hassle-free way.
What Is Binance P2P?
Binance P2P is a feature on the Binance exchange platform that allows users to buy and sell cryptocurrencies directly with each other. Unlike traditional trading, P2P trading removes intermediaries, making the process faster and cheaper.
Why Use Binance P2P?
- Low Fees: You’ll avoid high transaction fees that are common on other platforms.
- Local Payment Methods: Supports payment methods like eSewa and bank transfers.
- User-Friendly: Easy-to-use platform for beginners and experienced traders.
Steps to Buy USDT from Binance P2P in Nepal
Step 1: Create a Binance Account
If you don’t already have a Binance account, follow these steps:
- Visit the official Binance website or download the Binance app.
- Click on Register and enter your email and password.
- Complete the verification process by uploading a government-issued ID (e.g., passport, citizenship card).
- Enable 2FA (Two-Factor Authentication) for added security.
Tip: Use your personal email address for registration to avoid any login issues later.
- Log in to your Binance account.
- Go to the Trade tab and select P2P from the dropdown menu.
- You’ll see a list of cryptocurrencies available for trading. Select USDT.
Step 3: Filter for Nepali Payment Methods
- Click on the Filters icon.
- Select NPR (Nepalese Rupee) as your currency.
- Choose your preferred payment method (“eSewa” or “Bank Transfer”).
- Apply the filter to see sellers who accept these payment methods.
Step 4: Choose a Reliable Seller
- Look for sellers with high completion rates (above 90%).
- Check the number of completed trades. A higher number indicates reliability.
- Compare the exchange rates offered by different sellers.
Tip: Always read the seller’s terms before initiating a trade to avoid misunderstandings.
Step 5: Place an Order
- Click on the Buy button next to your chosen seller.
- Enter the amount of USDT you want to purchase (e.g., 100 USDT) or the amount in NPR you want to spend.
- Click Buy USDT to proceed.
Payment Process
For eSewa:
- Log in to your eSewa app or website.
- Transfer the specified amount to the seller’s eSewa account. You will get the seller’s eSewa ID from the Binance chat during the trade.
- Once the payment is successful, take a screenshot or download the receipt as proof of payment.
- Go back to Binance and click Transfer Done, Notify Seller to confirm the payment.
For Khalti:
- Open the Khalti app and log in.
- Transfer the required amount to the seller’s Khalti ID, which you can find in the Binance chat.
- Save the transaction receipt or take a screenshot.
- Confirm the payment on Binance by selecting Transfer Done, Notify Seller.
For IME Pay:
- Log in to your IME Pay account via the app.
- Send the specified NPR amount to the seller’s IME Pay account, as provided in the Binance chat.
- After the transfer, take a screenshot or save the transaction details.
- Return to Binance and confirm your payment by clicking Transfer Done, Notify Seller.
For Bank Transfer:
- Log in to your mobile banking app or visit the nearest bank branch.
- Transfer the NPR amount to the seller’s bank account, the details of which are provided during the trade.
- Note down the transaction ID or take a screenshot of the bank transfer receipt.
- Click Transfer Done, Notify Seller on Binance to confirm the payment.
Important: Complete the payment within the time limit provided (usually 15 minutes) to avoid order cancellation.
Verifying the USDT in Your Binance Wallet
After the seller confirms receipt of payment, the USDT will be released to your Binance wallet. To verify:
- Go to your Wallet tab and select Fiat and Spot.
- Check your USDT balance. It should reflect the amount you purchased.
Tip: If the seller doesn’t release the USDT within the time frame, you can raise a dispute on Binance.
Table: Pros and Cons of Using eSewa vs. Bank Transfer
| Feature | eSewa | Bank Transfer |
|---|---|---|
| Transaction Speed | Instant | 1-2 hours (depending on bank) |
| Fees | Low | Moderate |
| Convenience | Very convenient (mobile app) | Slightly less convenient |
| Security | Secure if used carefully | Highly secure |
| Availability | Widely available | Requires bank account |
Personal Tips for Buying USDT on Binance P2P
From my experience, here are some tips to ensure a smooth transaction:
- Double-Check Details: Always verify the seller’s payment details before transferring money.
- Avoid Suspicious Sellers: If a seller’s profile looks suspicious (e.g., low trade volume or completion rate), choose another.
- Stay Alert: Scammers may try to trick you into confirming payment without receiving the USDT. Only confirm after verifying the deposit in your wallet.
- Dispute Responsibly: If there’s an issue, use the Binance dispute resolution system to solve it quickly.
Things to Keep in Mind While Using Binance P2P
- Verify Seller Details:
Check the seller’s rating, completion rate, and trade history on Binance before initiating any transaction. - Communicate Clearly:
Use Binance’s chat feature to clarify payment methods, account details, or any concerns with the seller. - Match Payment Information:
Ensure that the seller’s payment account matches the details provided in Binance to avoid scams. - Save Payment Proof:
Always take a screenshot or save the transaction receipt for future reference in case of disputes. - Be Prompt:
Complete the payment within the allocated time to prevent the order from being automatically canceled. - Use Trusted Payment Methods:
Stick to payment options like eSewa, Khalti, IME Pay, or direct bank transfer as agreed with the seller. - Never Share Sensitive Information:
Avoid sharing personal or sensitive information like passwords, OTPs, or PINs with the seller. - Raise Disputes If Necessary:
If the seller delays or fails to release the USDT after payment, use the Binance dispute feature immediately. - Check Exchange Rate:
Verify the exchange rate and the amount of USDT you will receive before confirming the order. - Avoid External Communications:
Do not engage with the seller outside Binance’s platform to ensure security and maintain dispute eligibility.
Conclusion
Buying USDT from Binance P2P in Nepal using eSewa or bank transfer is straightforward once you understand the steps. By following this guide, you can confidently buy USDT and start your cryptocurrency journey. Binance P2P’s flexibility with local payment methods makes it one of the best platforms for Nepali users.
When I first tried this process, I was hesitant, but with some practice, it became easy and hassle-free. Always prioritize safety by trading with reliable sellers and double-checking all details. Cryptocurrencies are a powerful tool, and with the right knowledge, you can make the most of them.
I hope this guide helps you successfully buy USDT on Binance P2P. If you have any questions or concerns, feel free to share them in the comments below. Happy trading!
FAQs
1. Can I use eSewa to buy USDT from Binance P2P in Nepal?
Yes, you can use eSewa to buy USDT on Binance P2P. Make sure the seller accepts eSewa as a payment method and follow the step-by-step guide to complete the transaction securely.
2. Is it safe to buy USDT on Binance P2P in Nepal?
Yes, Binance P2P is a secure platform as long as you trade with reliable sellers. Always verify the seller’s ratings, trade history, and payment details before completing the transaction.
3. What should I do if the seller doesn’t release the USDT after payment?
If the seller doesn’t release the USDT, you can raise a dispute on Binance. Provide proof of payment (e.g., receipts or screenshots), and Binance will mediate to resolve the issue.
4. Are there any fees when using eSewa or bank transfer on Binance P2P?
Binance P2P itself doesn’t charge fees for buying USDT, but eSewa, Khalti, Ime Pay or your bank may charge a small transaction fee. Check the applicable charges before making a payment.
5. How long does it take to receive USDT in my Binance wallet?
Once the seller confirms receipt of payment, the USDT is released instantly to your Binance wallet. If there’s any delay, you can contact the seller or raise a dispute on Binance.
