Have you ever wondered what could go wrong with a simple P2P trade on Binance? One wrong move can lead to your bank account being frozen, leaving you in a world of trouble.
A Cautionary Tale
A friend's recent experience serves as a stark reminder. After buying USDT via Binance P2P using UPI, his bank account was suddenly frozen due to "suspicious activity." Despite his best efforts, the issue remained unresolved for months.
The Reason
The seller he traded with was later flagged for fraudulent activity, and his payment got caught in the mess. This scenario is all too common in countries like India and Pakistan.
3 Essential Rules to Stay Safe
To avoid similar situations, follow these golden rules:
1. Trade with verified and trusted sellers: Look for sellers with:
- 100+ trades
- 98%+ completion rate
- 6+ months account age
2. Verify name matching: Ensure the seller's bank name matches their Binance profile exactly.
3. Double-check every detail: Verify bank details, payment amount, and take screenshots.
Bonus Tips
- Use Binance's built-in escrow
- Start small with new sellers
- Prefer IMPS or NEFT over UPI
- Save transaction IDs, chats, and screenshots
Stay Cautious
P2P trading can be rewarding, but one wrong move can cost you dearly. Stay vigilant and follow these rules to protect yourself.$BTC