#BinanceSafetyInsights I am using trading platforms from the last 8 years. I came across the worst experiences. But, now I am using Binance since 4 years. This is the most trusted and secure platform. People can only scam through P2P. I have mentioned some precautionary measures below, by which you can do P2P trading securely.

P2P trading on Binance is gaining traction in Pakistan, but there's a growing number of scams to watch out for. Here are some common ones:

Cancellation After Payment: Some sellers back out of deals after receiving payment.

Blocked Accounts: Sellers may find their accounts frozen due to fraud suspicions.

Proof of Payment Scams: Scammers use fake payment confirmations to deceive sellers.

SMS Scams: Fraudulent text messages trick victims into revealing personal information.

Chargeback Scams: Buyers reverse their payments after getting the cryptocurrency.

Man-in-the-Middle Scams: Scammers intercept and alter communications between parties.

How to Protect Yourself:

Verify: Look into the other person's trading history and ratings. Stick to chatting within Binance P2P.

Secure Payments: Use reliable payment methods.

Double-Check Details: Carefully review all payment information.

Beware of Unrealistic Offers: If it sounds too good to be true, it likely is.

Use Escrow: Take advantage of Binance's escrow service for added security.

Report: If you notice anything suspicious, report it to Binance.

Stay Informed: Keep yourself updated on the latest scams.

Trust Your Instincts: If something feels off, don’t hesitate to cancel the transaction.

Extra Tips:

Educate Yourself: Familiarize yourself with P2P trading.

Start Small: Begin with smaller trades to build your experience.

Avoid Sharing Personal Info: Keep sensitive information private and within Binance.

Use Strong Passwords & 2FA: Protect your account with strong passwords and two-factor authentication.

Binance & Authorities:

Binance needs to step up its efforts to tackle these scams, including implementing stricter verification processes and educating users.

Working