⚠️ Caution in P2P trading on Binance: How to protect yourself from becoming a victim? 🔒


P2P (Peer to Peer) trading 🤝 on Binance has become a popular way to buy and sell cryptocurrencies directly between individuals. While this method may seem easy and fast ⚡, it carries some risks 🚨 that can make the user susceptible to fraud if not careful.


🔴 What are the main risks in P2P trading?

  1. Financial fraud 💸

    Some sellers or buyers may claim to have transferred money while they have not actually done so.


    Transferring suspicious funds 🕵️‍♂️

    There is a chance that the seller receives money from illegal sources, which could expose their bank account to scrutiny ⚖️.


    Temptation of unrealistic prices 💰✨

    Some scammers offer very enticing prices (much lower or higher than the market) to lure in victims.


    Psychological pressure 😰

    Some scammers use urgency ⏳ or threats to push the other party to cancel the protection provided by Binance.


    Manipulating the conversation 💬

    The scammer may ask to communicate outside of the Binance platform (WhatsApp 📱, Telegram 📡) to escape scrutiny and protection.


🛡️ How to protect yourself from fraud on P2P?

  1. ✅ Only deal within the Binance platform

    Never transfer money or send coins outside the escrow system (Escrow) 🔐.



    👀 Verify the trader's reputation

    • Choose sellers/buyers with a high transaction completion rate (over 90%).


      Monitor the number of previous transactions and ratings ⭐.


    🚫 Avoid overly enticing offers

    A price significantly different from the market is a red flag ⚠️.


    🔎 Do not trust screenshots or images

    Verify yourself that the amount has arrived in your bank account 🏦 before releasing the coins.

    👤 Verify the bank account

    Ensure that the bank transfer comes from the same name as the one on the other party's Binance account.


    💬 Avoid communication outside of Binance

    Any discussion or agreement should be within the platform chat, so Binance can intervene in case of disputes 🛠️.


    🏠 Use only your personal accounts

    Do not use third-party accounts to receive or send money ✋.

    🔑 Enable two-factor authentication (2FA)

    to keep your account secure from hacking 🛡️.

🆘 What to do if you fall victim to a scam?

  • Do not cancel the order ❌ or release the coins.


    Use the option Appeal 📢 on Binance.

    Submit all evidence (transfer images 📷, conversation 💬, bank details 📑) to the dedicated team.


    📝 Summary

P2P trading on Binance is a useful and quick tool 🚀 if used cautiously. However, any negligence in verifying the other party's identity or dealing outside the platform may lead to financial losses 💔 or even legal issues ⚖️.

Always make your motto:

“Do not trust anyone outside the escrow system 🔐, and do not release the funds until you verify yourself ✅.”

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