P2P (peer-to-peer) trading on Binance offers convenience for users to buy and sell cryptocurrencies directly with each other. However, this trading method also carries significant risks if you are not careful. Below are common scams and ways to protect yourself when trading P2P on Binance.

⚠️ Common Scams on Binance P2P

1️⃣ Fake Payment Proof:

The scammer sends a fake screenshot of a transfer or modifies the payment message to deceive the seller, causing them to hastily confirm receipt of money and release crypto.

2️⃣ Impersonating Trusted Individuals or Binance Support:

Scammers impersonate reputable merchants or the Binance support team to create trust and seize assets through private conversations or external channels.

3️⃣ Refunds/Chargeback Transactions:

After receiving crypto, the scammer initiates a refund through the bank or payment service (especially credit cards), causing the seller to lose both money and crypto.

4️⃣ Phishing Attacks:

Through phishing emails or a website that mimics Binance, scammers trick users into entering login information or authentication codes to gain access to their accounts.

5️⃣ Too Good to Be True Offers:

Scams by offering extremely attractive buying and selling rates to lure users into trading, then finding ways to cheat or exploit during the process.

🛡️ How to Protect Yourself When Trading P2P on Binance

✅ Self-Verify Payments:

Never rely solely on screenshots or messages. Always check your bank account or e-wallet to confirm that the money has actually arrived.

✅ Activate Security Features:

Enable two-factor authentication (2FA) and set up a phishing protection code in your email to ensure your account is not accessed without permission.

✅ Direct Transactions on the Binance Platform:

Absolutely do not trade through external channels or send money to unverified individuals. Binance provides effective risk management tools and dispute resolution.

✅ Report Suspicious Behavior:

If you detect any unusual behavior, use the "Dispute" or "Report User" tool right on the Binance platform for timely support.

🔒 Proactively Protect Your Assets

Don't let scammers take advantage of you. Vigilance, combined with adherence to safety principles, will help you trade confidently and effectively on Binance P2P.

📌 Refer to additional official security guides on the Binance website. Trade smart, stay safe, and protect your assets! 💪