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    Trading

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    Trading

    Uploaded by

    yogeshy4296
    6 views2 pages
    ict

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    trading

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    ict

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    6 views2 pages

    Trading

    Uploaded by

    yogeshy4296
    ict

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    To set up and use a Central Bank Digital Currency (CBDC) app to receive funds from Binance P2P, you

    need to follow several steps. Though specific details depend on your country’s CBDC app and its
    features, the general process involves the following:

    1. Download and Install the CBDC App


    Visit the official app store (Google Play Store or Apple App Store) and search for the CBDC app for your
    Bank. For example,i have HDFC bank account so search (HDFC CBDC) Download and install the official
    app.

    2. Register and Verify Your Identity


    Open the app and follow the registration process, which usually involves:
    Entering your mobile number.
    Verifying your identity using KYC (Know Your Customer) documentation (like Aadhaar, PAN, or any other
    national ID).
    Linking your bank account to the CBDC app, which is essential for making or receiving payments.

    3. Set Up Your Wallet


    Once verified, you will have access to your digital wallet, where you can store, send, and receive the
    CBDC.
    You may be provided with a unique wallet address or a QR code that others can use to send you funds.

    4. Receiving Funds from Binance P2P


    Binance P2P (peer-to-peer) is a way to trade cryptocurrency directly with other users. Here’s how you can
    receive funds into your CBDC wallet:

    Steps to Receive Fiat (CBDC) via Binance P2P:


    Log in to Binance Account:

    Open the Binance app or website, log in, and go to the P2P trading section.
    Choose the Currency (Fiat) for Payment:

    Choose your country’s fiat (CBDC) currency from the P2P options.
    Search for a buyer who is offering to pay in the CBDC currency you are looking to receive.
    List Your Crypto for Sale:

    Select the crypto (e.g., USDT or BTC) that you want to sell on P2P.
    Choose the method of receiving funds as a transfer to your CBDC wallet. This may require you to input
    your CBDC wallet address or provide a QR code.
    Complete the P2P Trade:

    Once the buyer has agreed to purchase, they will send the payment directly to your CBDC wallet via the
    app.
    Once you confirm that the funds have arrived in your CBDC wallet, release the cryptocurrency on
    Binance.

    5. Check Your CBDC Wallet for the Funds


    After the transaction, verify the receipt of the funds in your CBDC app.
    Once received, you can use those funds as you would with any other digital wallet—send, store, or
    withdraw them to your bank account.

    6. Transfer Funds to Your Bank (Optional)


    If you want to convert your CBDC to traditional fiat and send it to your bank, follow the app’s process to
    withdraw the funds to your linked account.

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