Top 5 Tips to Avoid Common Mistakes in P2P Trading on Binance
P2P trading on Binance is considered one of the easiest ways to buy and sell cryptocurrencies using local currency. However, at the same time, any small mistake can lead to losing your money. Therefore, here are the top 5 tips to help you keep your transactions safe:
1️⃣ Do not trade outside the platform
Any communication or transfer made outside Binance puts you at risk. Always stick to the official chat and payment methods linked to the order within the platform only.
2️⃣ Open the order first before payment
Do not transfer any amount before opening the order in P2P. Opening the order ensures that the seller's amount is reserved (Escrow) until you receive your money.
3️⃣ Check the seller's ratings
Choose traders with high ratings and a high completion rate. Ratings are an important indicator of the seller's credibility.
4️⃣ Do not share your personal information
Avoid giving WhatsApp numbers, Telegram, or any external communication methods. All conversations must be within Binance for your protection.
5️⃣ Use the "Report" feature when necessary
If you encounter any suspicious behavior or issue with the order, use the Report button immediately. Binance has a dedicated team to review these cases and protect you.
Summary:
Your safety begins with your commitment to the rules. The more you adhere to the correct steps, the faster and safer your transactions will be.
