Peer-to-Peer (P2P) trading is one of the easiest ways to buy and sell crypto directly with other users but it also attracts scammers looking to exploit the system. If you’re not careful, a single bad trade can wipe out your funds.

Here’s how common P2P scams work and what you can do to protect yourself.

1. Fake Payment Proof

Some scammers send edited screenshots or fake bank confirmations to make it look like they’ve paid you. The moment you release your crypto, you realize the payment never actually arrived.

How to avoid it: Never trust screenshots check your own account balance to confirm the payment is real.

2. Payment Reversal

Fraudsters sometimes use stolen bank accounts to pay you. When the real owner notices and reverses the transaction, you lose both the money and your crypto.

How to avoid it: Only trade with users who have a solid history and multiple completed transactions.

3. Impersonation

Some scammers pretend to be Binance support, community admins, or well-known traders. They might ask you to “verify” your account or “help” with a transaction, but it’s all a trap to get your funds or personal information.

How to avoid it: Binance support will never DM you first. Only respond through the official support chat on the platform.

4. Overpayment Trick

A scammer “accidentally” sends you more money than the agreed price and asks you to return the excess. Once you send it back, they reverse the original payment leaving you with nothing.

How to avoid it: Cancel the trade and send back the entire original payment if there’s a genuine error. Never release crypto until you’re sure the payment is final.

5. Fake Disputes

Some scammers file disputes with false claims, hoping to delay or confuse the process enough to get your crypto released to them.

How to avoid it: Keep all trade-related messages inside Binance chat so you have proof for support if a dispute arises.

Key Safety Tips for P2P Trading

Verify before release: Make sure the money is in your account and can’t be reversed.

Check user reputation: Stick to traders with strong feedback and high completion rates.

Use platform escrow: Binance’s escrow holds crypto until both sides confirm payment.

Keep communication on-platform: This protects

you with a written record if disputes occur.

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