Binance’s peer-to-peer (P2P) platform has introduced a significant upgrade to its Merchant Program, implementing a tiered system to better recognize and reward its most dedicated merchants. This enhancement aims to improve the trading experience by categorizing merchants into three distinct levels: Bronze, Silver, and Gold.
Merchant Levels and Criteria
- Bronze: All newly verified merchants begin at this level, establishing a solid foundation in P2P trading.
- Silver: Merchants who achieve a P2P trading volume exceeding 6 BTC or 200,000 USDT equivalent in the previous month, with a completion rate of at least 98%.
- Gold: Elite merchants with a monthly P2P trading volume surpassing 60 BTC or 2,000,000 USDT equivalent, maintaining a completion rate of 98% or higher.
Benefits by Merchant Level
- Exclusive Badges: Merchants receive badges corresponding to their level—Bronze, Silver, or Gold—enhancing their credibility on the platform.
- Fee Discounts: Bronze merchants enjoy a 20% fee rebate, Silver merchants receive a 30% discount, and Gold merchants benefit from a 50% reduction in fees.
- Ad Sharing Inventory: Available across all levels, allowing merchants to share advertisements effectively.
- Quick Release/Cancel: Enabled for all merchant tiers, facilitating efficient trade management.
- Appeal Response Time: Merchants are expected to respond to appeals within one hour, ensuring prompt issue resolution.
- 24/7 Customer Support: Round-the-clock assistance is provided to all merchants, regardless of level.
Advancement and Maintenance
Merchant levels are recalibrated during the first week of each month, based on performance metrics from the preceding month. Merchants can monitor their current level and progress through the Verified Merchant Portal, ensuring transparency and encouraging continuous improvement.
Conclusion
The upgraded Binance P2P Merchant Program introduces a structured approach to recognizing and rewarding merchant performance. By implementing tiered levels with specific criteria and associated benefits, Binance aims to enhance the P2P trading environment, fostering trust and efficiency for both merchants and users.
