safu

#P2P #UAE #SAFU
Binance P2P trading has rules, one of which is never to accept 3rd party payments under any circumstances, and its further emphasized in every step of ongoing P2P trades to remind users of its importance. Is it really that important? Let's find out.

How does a 3rd party payment look?
You sell your crypto on P2P, while the sell order is active the real info of the buyer and seller are displayed in the order page. As a seller, you see the buyer's real name, "James". The buyer marks the order as paid, and when you are verifying the payment inside your bank account, you have received a credit from "Tom". This is the textbook definition of 3rd party payment.
Well, as a seller, you have received the correct amount in your bank. Why should you care where the money came from, right? Think again.
That trade has many endings, and all of them are bad. lets find out what could go wrong.
A week later, you receive a call from your bank informing you of a chargeback of the transfer you received from Tom. Tom claims that he sent you the money by accident, or that his bank account was hijacked and he never approved that transfer. You immediately claim that you sold him crypto and share your proof of the sell order receipt generated by Binance P2P system. Well, you just shared an order between you and James and there is no Tom there. Your case does not stand in court, and you have just lost your crypto and your fiat.
Another more severe scenario could be that Tom is part of a fraudulent group scamming people and turning their fiat into crypto. You are now the last beneficiary of stolen funds and will most probably be paid a visit by local authorities. You present the trade receipt of the crypto trade, and there is no Tom there. You spend the night in jail and are referred to prosecution later. By a miracle if the judge believes your story, your best chance is to be laid off with a hefty fine and a black mark on your legal record. Now you have lost your crypto, your fiat, paid a fine, and are considered a convict of a financial crime, which could impact your lifestyle.

So what should you do when you receive a 3rd party payment?

Appeal immediately and share payment proof.Call your bank to reverse that transfer to its original source.Share the refund proof in the appeal page with Binance CS to cancel the order.Inform local police of the incident for them to take notice.

This is a very aggressive approach, even if 3rd party payments worked out for you many times before without issues. This needs to happen only once to severely impact your life.

Always deal with verified merchants who are licensed and comply with rules.

If you liked this content, a follow / share / like is appreciated.

Stay SAFU