## What is a Binance P2P Scam and How Does It Happen?

Binance P2P (Peer-to-Peer) scams typically involve fraudsters who pretend to buy or sell cryptocurrency directly with you. A common scam is when the scammer sends a fake payment confirmation or reverses a bank transfer after you release the crypto. For example, they may claim to have paid you via bank transfer, you release the crypto, but later the payment is reversed or never actually received, causing you to lose your crypto without getting paid.

These scams often target new or inexperienced users who may not verify payments properly or fall for pressure tactics.

## How to Avoid Binance P2P Scams?

- **Trade only with verified users:** Binance verifies certain users; prefer trading with them.

- **Always confirm payment in your bank account or official payment app:** Don’t rely on screenshots, SMS, or chat messages as proof of payment.

- **Never trade outside the Binance P2P platform:** Off-platform trades have no protection.

- **Be cautious of offers that seem too good or urgent:** Scammers often create fake urgency to rush you.

- **Use strong passwords and enable two-factor authentication (2FA):** Protect your Binance account.

- **Bookmark Binance’s official P2P page:** Avoid phishing websites.

- **Cancel trades if anything feels suspicious:** Trust your instincts.

## How to Protect Your Bank Account?

- Trade in small amounts initially to minimize risk.

- Avoid trading with unknown or untrusted buyers/sellers, as their suspicious activities might lead to your bank account being flagged or frozen.

# How to Stay Updated?

- Follow Binance’s official blog and announcements regularly.

- Join crypto communities and social media channels to get scam alerts.

- Regularly check your email and password security using services like haveibeenpwned.com.

**Remember:** Caution is your best defense. Always verify payments carefully and follow Binance’s security guidelines to trade safely on P2P.