How to make profit on Binance P2P and avoid losses

[Kaycee]

Well I am actually asking, not telling. I have always wondered how p2p traders make profit. The spread is so small and even if you trade stablecoins only, forex price fluctuations can still affect the trade. Is there any P2Ptrader here willing and ready to explain how to achieve this? Secondly, is there no risk of your account being sent fraudulent funds? even if you strictly implement "No third Party" payments, what about if the account sending you a payment has been linked to fraud, thereby chainlinking your account to that account? The risks look so high to me versus the reward, besides I am not yet sure exactly how you get consistent rewards?

 

[Dibbert]

The trick is actually to target a country like Nigeria where the price of usdt per $ is higher than the official rate. But that has changed now, Nigerian Central Bank has normalized the exchange rate. The spread used to be up to 20% profit.

 

[Farre]

I definitely also want to know more about this. I think even if the profit is low, it will be stable.

 

[Kyler]

The buy side (one USDT/$) is cheaper in US or for any one with dollar then, on Nigerian Binance P2P, however when sold, it's worth more than one $ per USDT because $ was scarce. Hence, the 20% profit. This opportunity is mostly present in countries which currency policies led to two different exchange rates, official and unofficial. That's what to look for most times, other reasons can abound though.