P2P Guide for Indian Users: How to purchase USDT on Binance and deposit to your Pillow Account

Binance P2P is an easy to use platform that allows you to buy and sell cryptocurrencies directly with other users. While P2P gives more control over your trading, it’s essential to have a third party like Binance that facilitates transactions and safeguards users on the platform. Binance P2P protects both buyers and sellers to safeguard transactions and reduce the risk of fraud. In addition to a public rating system, Binance P2P uses escrow to secure the cryptocurrencies until both parties have confirmed the transaction.

You can follow the below steps to buy USDT on Binance P2P and send it to your Pillow Wallet:

Step 1: Register/Log In

• Visit the Binance P2P page.
• If you already have a Binance account, click [Log In] and go to Step 4
• If you do not have a Binance account yet, click [Register]

Step 2: Creating an account

• Enter your email on the registration page and set your login password. Read and check the Binance Terms and click [Create Account].

Step 3: Identity Verification

• Complete Level 2 identity verification, enable SMS Verification, and then set your preferred payment method.

Step 4: Buying USDT via P2P

• Select [Buy Crypto] and then click [P2P Trading] on the top navigation.

• Click on [Buy] and select the [USDT] cryptocurrency tab .
• Enter the amount, select your fiat currency as [INR] and filter the [Payment] method in the drop-down.

Step 5: Placing an order

• Enter the amount (in INR) or quantity of USDT you want to buy and click [Buy].

• It is recommended to the choose the [UPI] option if the amount is less than or equal to 1,00,000 INR.

• You can select the [Only show merchant ads] tab to interact with the sellers who have been verified by Binance (yellow tick) and have higher liquidity.

Note: If you are a new user, you should simply click on ads with [Buy USDT] and ignore the ads with [Limited] option. If you choose the latter, you wouldn’t be able to complete your P2P transaction.

Step 6: Complete the payment

• While making the payment, you can leave the ‘memo’ blank and proceed with the transaction.
• Confirm the payment method and amount (total price) on the Order Details page.
• Complete the fiat transaction within the payment time limit. Then click [Transferred, Next] and [Confirm].

• Make the payment through your Bank application and save this Payment Receipt in your phone/computer.

• Now comeback to Binance app & mark as paid by clicking [Confirm] button.

Note: You need to transfer the payment directly to the seller through bank transfer, UPI, or another third-party payment platform based on the seller’s payment information provided. If you have already transferred payment to the seller, you must not click “Cancel” unless you have already received a refund from the seller in your payment account. If you do not make an actual payment, please do not click “Confirm” to confirm the payment. This is not permitted according to the rules of the transaction. If you encounter any issues during the transaction, you can contact the seller using the chat window.

• Inform the seller that you have made the payment through the chat window and upload the payment receipt/Proof of Payment for Seller’s reference

Step 7: Receiving USDT

• Once the seller has released the cryptocurrency, the transaction is completed. You can click [Transfer to Spot Wallet] to transfer the digital assets to your Spot Wallet.

Note: If you do not receive the cryptocurrency 15 minutes after clicking [Transferred, next], you can click [Appeal] and Customer Service will assist you in processing the order.

Step 8: Transferring USDT to your Pillow Wallet

• Go to your main wallet and click on [Withdraw] beside the USDT cryptocurrency.
• Select the BSC (BEP20) network — Binance Smart Chain.
• Enter your BSC Pillow Wallet Address in the [Address] field.
• Enter the withdrawal amount and you will be able to see the corresponding transaction fee i.e. 0.8 USDT and the final amount you receive. Click [Withdraw] to proceed.
• Confirm the transaction by Email Verification and SMS Verification.
• Deposits may take up to 10–15 minutes to arrive on the Pillow wallet. We will notify you as soon as the deposit arrives!

As soon as your deposit arrives, it starts earning up to 14% interest!