LIVEUSDT/CNYP2Pevery 3 min
Binance P2P: USDT/CNY
Reference prices from Binance's yuan peer-to-peer ads in three ticket sizes, plus how deep the market is. For the three-exchange view see USDT to CNY rate today. coinkiki does not rank or recommend exchanges.
Trade on Binancecoinkiki may earn a referral fee if you register through this button. It does not affect the prices shown. Binance does not serve every country, so check its terms for yours before you sign up.
| Order of | Sell USDTyou receive CNY | Buy USDTyou pay CNY |
|---|---|---|
| CNY 5,000Small | 6.62016 adsbest | 6.64020 adsbest |
| CNY 50,000Medium | 6.63011 adsbest | 6.63019 adsbest |
| CNY 300,000Large | 6.64014 adsbest | 6.63018 adsbest |
Market depth
sell side / buy side| Order of | Ads that meet the conditions | Ads that can take the order | USDT on offer in those ads |
|---|---|---|---|
| CNY 5,000 | 16 / 20 | 967 / 773 | 845,021 / 711,827 |
| CNY 50,000 | 11 / 19 | 1,185 / 735 | 776,161 / 696,404 |
| CNY 300,000 | 14 / 18 | 757 / 110 | 1,791,065 / 1,585,468 |
In each cell the first number is the sell side (merchants buying your USDT), the second the buy side. An ad passes the filter if it can take the whole order and the merchant completes at least 95% of trades over 50+ orders. Last update Nov 10, 19:57 Beijing time.
How often it was the best of three (last 7 days)
medium ticket- Highest sell price
- 100%
- Lowest buy price
- 100%
- Comparisons
- 6
- Period covered
- 0.0days
Every 3 minutes the three exchanges' prices for a CNY 50,000 order are compared; ties count for each exchange involved.
Payment methods
medium-ticket ads able to fill| Method | Sell side | Buy side | Share (buy) |
|---|---|---|---|
| Alipay | 877 | 522 | |
| Bank card | 504 | 265 | |
| WeChat Pay | 396 | 208 |
One ad can accept several methods, so the columns add up to more than the ad count. What the methods mean: Alipay, WeChat and bank card in CNY P2P.
Last 24 hours
medium ticketHow Binance P2P works for CNY, and what to watch
In this section · 7 parts
Binance's CNY P2P market is a noticeboard where individuals and dealers post offers to buy or sell USDT for Chinese yuan. Binance does not take the other side of the trade: it holds the seller's USDT in escrow while the buyer pays yuan into the seller's own account, and the coins are released once the seller confirms the money has arrived.
How does Binance P2P work for CNY?
The buyer opens an order on an ad, and the seller's USDT is locked in escrow. The buyer then pays off-platform by bank transfer, Alipay (Ant Group's payment app) or WeChat Pay (Tencent's). Binance's rules for the CNY zone, published in Chinese, require the payer to use an account in their own verified name and to pay within the ad's time limit, usually 15 or 30 minutes. The seller checks their own account and clicks "release", which the rules require within 30 minutes of receiving full payment.
If something goes wrong, either side can appeal inside the order. Completed or cancelled orders can be appealed too; one listed reason is "the seller's bank account was frozen because of the order". Binance says support usually responds within 15 to 30 minutes.
What do Binance's merchant badges mean in the CNY market?
Ads come from merchants (the Chinese market calls them U shang, "USDT dealers"). The CNY merchant rules require a 10,000 USDT deposit to become a verified merchant. Two higher tiers add compensation if a seller's bank account is frozen after receiving the merchant's payment:
| Badge | Deposit | Compensation for a frozen account |
|---|---|---|
| Verified merchant | 10,000 USDT | none promised |
| Shield | 30,000 USDT | 100% up to 1,000 USDT; 10% of the amount above that, capped at 3,000 USDT |
| Premium zone ("Yanxuan") | 100,000 USDT | 100% of the order, capped at 100,000 USDT, split between merchant and Binance |
The conditions are strict. Both programmes pay only for a judicial freeze of six months or more, the seller must apply within 30 days of the order, and bank-initiated protective holds or emergency stops do not count. Binance's English page on the Shield programme says it "applies to non-CN regions"; the CNY market runs on separate Chinese-language rules.
What is distinctive about Binance's yuan ads?
Most ads near the top of the list have high minimums, often 50,000 yuan or more, and many premium-zone ads start at 100,000 or 300,000 yuan. Alipay and bank transfer dominate; WeChat Pay ads are fewer. Merchant nicknames often include phrases such as "funds safe" or "zero freeze". Those are names the merchants choose, not Binance guarantees.
Why does Binance's CNY price matter for the China USDT price?
Chinese banks do not exchange yuan for crypto, so P2P ads are where mainland users actually swap yuan and USDT. Their prices show what a dollar-pegged token costs in yuan inside China, and how far that is from the official USD/CNY rate. coinkiki tracks the gap on its China USDT premium page and explains it in why USDT trades above or below the dollar in China. Binance is one of the three markets behind the reference rate described in how coinkiki calculates the USDT/CNY rate.
What are the risks of Binance's CNY P2P market?
- Legal: in mainland China, exchanging yuan for crypto is illegal financial activity and the contracts are not protected by courts.
- Frozen accounts: if the yuan you receive came from fraud, police can freeze your account, usually for six months at a time. Compensation badges pay part of the loss afterwards; they do not prevent a freeze. See frozen bank cards in China's OTC market.
- Third-party payments: Binance's rules let a seller refuse money sent by anyone other than the verified buyer, and refund it.
- Payment method details: what Alipay, WeChat and bank-card terms mean in an ad is covered in Alipay, WeChat and bank card in CNY P2P.
If you are a business abroad paying a Chinese supplier, read paying Chinese suppliers before relying on this market.
Frequently asked questions
Is Binance P2P safe for CNY? Escrow protects against the buyer never paying; it does not protect against receiving stolen money. Losses in mainland China are borne by the parties.
What does the "100k USDT coverage" label mean? It marks premium-zone merchants whose orders qualify for compensation of up to 100,000 USDT if a judicial freeze of six months or more is traced to their payment.
Why do Binance's CNY rules differ from its English P2P policy? Binance publishes rules that apply only to the CNY zone, in Chinese. Its English pages for some programmes say they do not apply to the CN region.
Can a foreign user buy USDT with CNY on Binance P2P? Paying needs a Chinese bank, Alipay or WeChat Pay account in your own verified name, so in practice the market serves people with mainland accounts.
Sources
- Binance, C2C User Trading Rules (CNY zone only, Chinese), updated 2026-03-30: https://www.binance.com/zh-CN/support/faq/detail/360041066751
- Binance, C2C Verified Merchant Rules (Chinese), updated 2026-07-13: https://www.binance.com/zh-CN/support/faq/detail/360043895111
- Binance, Shield Merchant Service Rules (Chinese), updated 2025-09-15: https://www.binance.com/zh-CN/support/faq/detail/2fe91bc724744780b0b4b56187541aa1; English version marked "non-CN regions": https://www.binance.com/en/support/faq/2fe91bc724744780b0b4b56187541aa1
- Binance, Premium Zone Service Rules (Chinese), updated 2026-08-21: https://www.binance.com/zh-CN/support/faq/detail/9ac3ef41b8424d6ea5f109de27ae2307
- Binance, appeals for completed or cancelled orders (Chinese), updated 2026-03-12: https://www.binance.com/zh-CN/support/faq/detail/e88844cd4c814d49852879917887b2d1
Where the numbers come from
- Binance prices come from the CNY P2P ads Binance shows publicly whose per-order limits cover the amount; the ad count is the total Binance displays.
- Order counts and completion rates are the merchant's last 30 days, as Binance shows them.
- Full method: how coinkiki calculates the USDT/CNY rate.