P2P Trading: 4 Rules You Can’t Afford to Ignore
Trading peer-to-peer can be secure, but only if you stick to the right steps. The moment you skip them, the chances of falling into a scam rise sharply. Here are four rules that every trader should keep in mind:
Rule 1: Keep Conversations on Binance
Always communicate through Binance’s official chat. Avoid moving the conversation to WhatsApp, Telegram, or phone calls because those channels don’t provide you with any protection. If a dispute comes up, Binance chat is your only reliable evidence.
Rule 2: Verify Identity with CNIC
Before confirming a payment, ask for the sender’s CNIC (national ID). If someone refuses to share it, that’s a serious warning sign and usually points to fraudulent activity. Take a screenshot and report the case if they push back.
Rule 3: Protect Yourself with Receipts and Notes
Create a transaction receipt and ask the buyer to include a short handwritten note stating why the payment was made, such as “I purchased [item/service], that’s why this payment was made.” This simple step can protect your account if your bank questions or freezes the transaction later.
Rule 4: Save Three Key Screenshots
Keep records of the payment confirmation, your Binance chat, and the trader’s profile (including ratings and history). Having these saved gives you a strong backup in case of disputes.
Final Thought
Scammers rely on urgency and pressure tactics. Slow down, double-check everything, and follow the process. Protecting yourself always comes before making a profit.
