Gold, Silver, and Bronze tiers are introduced by Binance to reward verified P2P merchants based on performance.
Binance has added a key update to its P2P Merchant Program by introducing three tiers, namely, Bronze, Silver, and Gold. This upgrade is introduced to acknowledge and reward P2P merchants according to their trade volume and performance.
Each tier offers unique advantages. Based on their monthly trade performance, newly verified merchants can move up from the Bronze level. Verified traders having a solid trading record are considered bronze merchants.
Merchants must reach a trading volume of at least 6 BTC, or 200,000 USDT, with a 98% completion rate to be eligible for the Silver level. To retain the same high completion rate, gold-level merchants, ‘top-tier level’, must have a volume of more than 60 BTC or 2,000,000 USDT.
Bronze merchants receive a Bronze badge, a 20% fee refund, quick release, and cancellation capabilities, shared ad inventory, and 24/7 customer support. Silver merchants receive a 30% fee refund, a Silver badge, and other benefits. Gold-level merchants get the highest-tier benefits, a Gold badge, and a 50% fee refund.
With this upgrade in the Binance P2P Merchant Program, the exchange aims to promote high trading standards and better experiences for Binance P2P users.