A peer-to-peer exchange, often referred to as P2P exchange, serves as a platform for individuals to trade cryptocurrencies directly with each other, accommodating transactions across virtually any nation. When you initiate a P2P order, the cryptocurrency you wish to purchase is secured in escrow by Binance P2P until the transaction is finalized. To complete the process, you need to transfer funds to the seller using the recommended payment methods, and once the fiat payment is made, you should select "Transferred, notify seller" on the Binance P2P interface. The seller must then confirm that they have received the payment before the crypto held in escrow is released to you. Given the straightforward nature of P2P exchanges, both buyers and sellers experience minimal overhead costs. Specifically on Binance P2P, traders known as takers incur zero trading fees, while makers are subject to a nominal fee for each completed transaction, with a commitment to maintaining the lowest possible fees across all markets. This flexibility allows sellers to choose their preferred payment methods, and on Binance P2P, there are over 150 options available, including bank transfer, cash, PayPal, M-Pesa, and various e-wallets. Ultimately, the P2P exchange model empowers users with greater autonomy in their trading activities.