What is a P2P Reversal Scam?
Scammers exploit the P2P system by making a payment to your bank account and then reporting it as unauthorized. This action prompts the bank to reverse the transaction, leaving you without both your crypto and the received funds.
How to Stay Safe:
Use a Separate Bank Account for P2P Transactions: Avoid using your primary bank account for P2P trades. Instead, open a dedicated account solely for these transactions.
Immediate Fund Transfer: As soon as you receive payment, transfer the funds to your main bank account before releasing any crypto. This minimizes the risk of reversal.
Verify Buyer Information: Ensure that the payment comes from an account matching the buyer's verified details on Binance. Discrepancies can be a red flag
Avoid Third-Party Payments: Only accept payments from the buyer's account. Third-party payments can complicate disputes and increase risk.
Keep Detailed Records: Maintain screenshots and records of all transactions and communications. This documentation is vital in case of disputes
Stay Vigilant:
Always double-check payment confirmations and be cautious of buyers urging you to release crypto before verifying funds. Remember, it's better to be safe than sorry.
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