<p>I brought bitcoin via binance p2p. However, I notice that if I buy say £1000 of bitcoin, the value is really less (say £600).</p>
<p>I am tryoing to understand why this is? Is this due to any fees?</p>

CC BY-SA 4.0
2022-12-02T16:04:16.970Z
Is “binance p2p” perhaps a market place for users to submit their own offers and bids? Is it possible that some user just submitted an offer that was far removed from the current spot price?
Murch
CC BY-SA 4.0
2022-12-02T16:11:21.423Z
Yeah p2p is where users sell coins. Could you explain a bit more?
Bladerider1
CC BY-SA 4.0
2022-12-02T16:31:16.213Z
Among other things, there are exchanges and market places for buying bitcoin. Exchanges have a matching engine that resolves the best offers and bids against each other until there is a spread again. Market places allow users to post distinct offers that other users can pick from. It sounds to me like you did a market order against a very large spread or bought from a very unfavorable offer on a market place.
Murch
<transactions><transaction-fees><binance>
Bitcoin p2p fees?
Bladerider1
# Bitcoin p2p fees?

(Asked by: username_0 on 2022-12-02)

I brought bitcoin via binance p2p. However, I notice that if I buy say £1000 of bitcoin, the value is really less (say £600).

I am tryoing to understand why this is? Is this due to any fees?

**Tags:** transactions, transaction-fees, binance

> **Comments:**
> **username_1**: Is “binance p2p” perhaps a market place for users to submit their own offers and bids? Is it possible that some user just submitted an offer that was far removed from the current spot price?  
> **username_0**: Yeah p2p is where users sell coins. Could you explain a bit more?  
> **username_1**: Among other things, there are exchanges and market places for buying bitcoin. Exchanges have a matching engine that resolves the best offers and bids against each other until there is a spread again. Market places allow users to post distinct offers that other users can pick from. It sounds to me like you did a market order against a very large spread or bought from a very unfavorable offer on a market place.  

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## 0 answers

