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Binance P2P has become the most widely used method for buying and selling cryptocurrency in Pakistan. It allows users to trade directly with each other, with Binance providing an escrow service to secure transactions. While this system is convenient, it has also attracted scammers who exploit inexperienced users. Knowing the common scam tactics and the right precautions can protect your funds.
Common P2P Scams in Pakistan
1. Fake Payment Proofs
Some buyers send fake bank transfer or mobile wallet screenshots to trick sellers into releasing crypto before actual payment is received.
2. Third-Party Payments
Fraudsters may send money from a different account not matching their Binance-verified name, which can create legal and financial complications.
3. Overpayment Trap
Scammers send a higher amount than required, claim it was a mistake, and request a refund. Later, the original payment gets reversed, leaving you at a loss.
4. Pressure Tactics
Scammers push sellers to release crypto quickly by insisting “payment has been made” or using emotional manipulation.
5. Phishing Links
Some fraudsters share fake login links or try to lure traders outside Binance to steal account details.
Precautions for Safe Trading on Binance P2P
✅ Confirm Payment Before Releasing Crypto
Never rely on screenshots—always check your own bank or wallet to verify funds have arrived.
✅ Only Accept Payments from Verified Accounts
The sender’s name must match the buyer’s verified Binance profile. Refuse third-party payments.
✅ Stay on Binance Chat & Escrow System
Do not take deals outside Binance. The escrow system only protects you if you trade within the platform.
✅ Ignore Rush Tactics
Take your time to confirm payments. Scammers often create urgency to trick you.
✅ Use Strong Security Settings
Enable 2FA, secure your email, and avoid logging in from public devices or links shared by strangers.
✅ Keep Records
Save transaction receipts and chat history on Binance in case you need to open a dispute.
Final Thoughts
Binance P2P is safe when used correctly, but scams happen when traders rush or ignore platform rules. The key is patience, verification, and never releasing crypto until the money is truly in your account.
🚨 In P2P trading on Binance, your discipline is your strongest defense against scammers.
