Peer-to-peer (P2P) trading on Binance offers flexibility and control but also exposes users to scams if caution is not exercised. Here are expert tips to protect yourself when selling USDT on Binance P2P:
1. Never Release USDT Before Confirming Payment
Only release your USDT after you have verified that the buyer’s payment has been credited to your bank account or e-wallet. Do not rely on screenshots, SMS, or email notifications claiming payment, as scammers often use fake proofs of payment to trick sellers into releasing crypto prematurely.
2. Stay Within Binance’s Platform
Conduct all communication and transactions exclusively on Binance P2P. Avoid moving conversations to external apps like WhatsApp or Telegram, which void Binance’s escrow protections and increase your risk of fraud.
3. Verify the Cryptocurrency Type Carefully
Scammers may send tokens that look similar to USDT but have much lower value (e.g., USTC). Always double-check the exact token received in your Binance transaction history before releasing your USDT.
4. Use Verified and Trusted Buyers
Trade with buyers who have a verified status and good transaction history on Binance. Check their ratings and feedback to avoid dealing with new or suspicious accounts.
5. Enable Two-Factor Authentication (2FA)
Secure your Binance account with 2FA and never share your codes with anyone, including anyone claiming to be Binance support.
6. Be Wary of Deals That Seem Too Good to Be True
Offers significantly above or below market rates are often scams. Research current market prices before agreeing to any trade to avoid bait-and-switch tactics.
7. Keep Records and Report Suspicious Activity
Save all chat logs, transaction screenshots, and payment confirmations. If you suspect a scam, report it immediately to Binance Customer Support with all evidence to help protect yourself and others.
By following these precautions, you can safely sell
#USD USDT on Binance
#P2P and minimize the risk of falling victim to scams. Always prioritize verification over urgency and use Binance’s secure escrow system to your advantage.
#BinanceAlpha #ScalpingStrateg