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Does Binance P2P Still Work After Fiat Trade Closed: What Changes for the Hryvnia

After Fiat Trade UAH closed, many ask whether you can still buy USDT for hryvnia on Binance. In short: P2P works. Here is how it differs from Fiat Trade and what changed in practice.

Updated October 9, 2026·5 min read

From 28 September 2026 Binance closed the Fiat Trade UAH service and the USDT/UAH spot pair, but the P2P section for the hryvnia works. To see why, it is enough to know how the two methods differ.

Fiat Trade and P2P: two different mechanisms

  • Fiat Trade UAH: hryvnia arrived in your exchange account (from a card or bank) and you bought USDT with it on the spot market. The exchange itself received and paid out hryvnia. This is what stopped.
  • P2P: you agree with another person. They post an ad "selling USDT for hryvnia", you send money to their bank card, and the exchange holds the USDT in escrow and releases it to you after confirmation. Hryvnia is never stored on the exchange.

That is why closing Fiat Trade does not affect P2P: in P2P the exchange does not process hryvnia payments, it only guarantees the deal.

What changes in practice

  1. You can no longer top up a "hryvnia balance" on the exchange and buy USDT with one button on the spot market. Only P2P.
  2. The price is set by sellers' ads, not by an order book, so it differs between exchanges and even between sellers. Compare, do not take the first offer.
  3. All P2P risks remain: fake ads, dishonest counterparties, bank questions about transfers. Read how to spot a fake ad and how to choose a reliable seller.

How to buy USDT through Binance P2P now

  1. Open the P2P section, choose "Buy", currency UAH and your bank.
  2. Filter by number of trades and completion rate (for example from 50 trades and 92%+).
  3. Check the ad's limits against your amount, create the order and pay only to the details shown in the order.
  4. Confirm only when the money has actually left your account, then wait for the USDT.

A step-by-step guide with screenshots: Binance P2P in Ukraine. For a quick price comparison use the MetaRates app: it shows the best price from six exchanges at once.

A safety tip

Each bank has its own rules for transfers related to cryptocurrency. Follow your bank's requirements and the exchange's rules, do not send large amounts from a new account without need and never pay "outside the order" to other details, even if the seller asks. This article is not financial or legal advice.

Frequently asked questions

According to reports, yes. Fiat Trade UAH and the USDT/UAH pair are closed, but P2P deals between users work.

In Fiat Trade hryvnia came to the exchange account, while in P2P you send money to another person's card and the exchange only holds the USDT in escrow until confirmation.

The P2P price is set by sellers' ads and changes constantly. Compare prices on several exchanges and look at the gap on the rate page.

The same as before: fake ads, dishonest sellers, bank questions. Check the seller's rating and pay only to the details in the order.

Check the numbers on live prices

Open MetaRates: P2P orders from six exchanges, an arbitrage calculator and rate alerts.

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This material is for information only and is not financial advice.