*Stay Safe on Binance P2P Trading: Top Tips to Avoid Scams*
When trading peer-to-peer (P2P) on Binance, it's essential to be cautious and follow best practices to avoid scams. Here are some key tips to keep you safe:
*1. Trade with Trusted Users*
Look for sellers or buyers with:
* High completion rates (above 95%)
* Many transactions
* Positive ratings
*2. Use Escrow Feature*
Let Binance hold cryptocurrencies in escrow until payment is confirmed.
*3. Stay Within the Platform*
Don't transfer money outside Binance or agree to external payments.
*4. Verify Bank Account Names*
Ensure the buyer's bank account name matches their Binance profile.
*5. Confirm Receipt Carefully*
As a seller, verify that the payment has arrived in your bank account before confirming receipt.
*6. Avoid Pressure Tactics*
Take your time to verify details; don't rush into transactions.
*7. Use Secure Payment Methods*
Opt for direct bank transfers from the bank's app; avoid intermediaries.
*8. Report Suspicious Behavior*
Use the 'Report' button or open a support ticket if you suspect a scam.
*Red Flags to Watch Out For:*
* Requests to transfer outside the platform
* Mismatched bank account names
* External links or requests
* Unrealistic prices or promises
* Pressure to act quickly
*Stay Protected:*
* Follow Binance's news and security alerts
* Enable two-factor authentication (2FA) on your account
By following these tips, you can minimize the risk of scams and trade safely on Binance P2P.
