How to avoid getting scam on binance p2p

Avoiding scams on Binance P2P is crucial, especially since you're dealing directly with other users. Here are some key tips to keep you safe:

1. Only Trade with Verified Merchants

Look for traders with a yellow checkmark and high completion rates (above 95%) and many completed orders.

Check user reviews and ratings before trading.

2. Never Complete Payment Outside the Platform

Always make payments using the exact payment method listed on Binance.

Avoid deals where the user tells you to use a different account or method than the one shown.

3. Double-Check the Payment Name

Make sure the name on the payment account matches the seller’s name.

Don’t pay if the name doesn’t match — it’s a red flag.

4. Never Release Crypto Before Receiving Payment

If you’re selling, do not release the crypto until you have confirmed that the money is in your account and cannot be reversed.

5. Beware of Fake Payment Notifications

Scammers may send fake SMS or email alerts pretending to be from banks.

Always log in to your actual bank account or mobile money to verify payment.

6. Use the Chat Feature

Keep all communication within Binance’s chat system — this can help in case you need to open a dispute.

7. Don’t Cancel After Payment

If you’re the buyer, don’t click "cancel" after paying — that gives the seller the option to walk away with your money.

Instead, open a dispute and upload your proof of payment.

8. Use the Escrow System

Binance P2P holds the seller’s crypto in escrow. Never agree to do a deal outside Binance to "avoid fees."

9. Avoid Too-Good-To-Be-True Offers

If the rate is way better than others, be cautious — it could be bait for a scam.

10. Know How to Use the Dispute Option

In case of any issues, you can raise a dispute and Binance’s support team will step in.