Binance has updated its P2P Merchant Program by introducing three tiers: Bronze, Silver, and Gold. The aim is to recognize and reward P2P merchants based on their trade volume and performance.
Newly verified merchants with a basic trading record start at the Bronze level and can progress based on monthly performance. To reach the Silver level, merchants need a trading volume of at least 6 BTC or 200,000 USDT and a 98% completion rate. Gold-level merchants, the top tier, require a volume over 60 BTC or 2,000,000 USDT while maintaining the high completion rate.
Bronze merchants enjoy a Bronze badge, 20% fee refund, quick release and cancellation options, shared ad inventory, and 24/7 customer support. Silver merchants get a 30% fee refund, a Silver badge, and additional perks. Gold merchants receive the highest benefits, a Gold badge, and a 50% fee refund.
This upgrade by Binance P2P intends to enhance trading standards and user experiences.
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