Caution in P2P trading on Binance: How to protect yourself from becoming a victim?

⚠️ Caution in P2P trading on Binance: How to protect yourself from becoming a victim? 🔒

Trading via the P2P feature (Peer to Peer) 🤝 on Binance has become a popular method for buying and selling cryptocurrencies directly between individuals. While this method may seem easy and fast ⚡, it carries some risks 🚨 that may expose the user to fraud if not cautious.

🔴 What are the main risks in P2P trading?

1. Financial fraud 💸
   
   Some sellers or buyers may claim to transfer money while they have not actually done so.

   
   

   Transfer with suspicious funds 🕵️‍♂️
   
   There is a possibility that the seller receives funds coming from illegal sources, which may expose their bank account to scrutiny ⚖️.

   
   

   Temptation of unrealistic prices 💰✨
   
   Some scammers offer very tempting prices (much lower or higher than the market) to lure victims.

   
   

   Psychological pressure 😰
   
   Some scammers use urgency ⏳ or threats to push the other party to cancel the protection provided by Binance.

   
   

   Manipulating the conversation 💬
   
   The scammer may ask to communicate outside the Binance platform (WhatsApp 📱, Telegram 📡) to escape monitoring and protection.

   
   

🛡️ How to protect yourself from fraud on P2P?

1. ✅ Only deal within the Binance platform
   
   Never transfer money or send coins outside the escrow system (Escrow) 🔐.

   
   
   

   👀 Check the trader's reputation

   • Choose sellers/buyers with a high transaction completion rate (over 90%).

     
     

     Monitor the number of previous transactions and ratings ⭐.

     
     

   🚫 Avoid overly tempting offers
   
   A price that differs significantly from the market is a warning sign ⚠️.

   
   

   🔎 Do not trust screenshots or photos
   
   Verify for yourself that the amount has arrived in your bank account 🏦 before releasing the coins.

   👤 Verify the bank account
   
   Ensure that the bank transfer comes from the same name as the account holder on Binance for the other party.

   
   

   💬 Avoid communication outside of Binance
   
   Any discussion or agreement must be within the platform chat, so Binance can intervene in case of a dispute 🛠️.

   
   

   🏠 Use only your personal accounts
   
   Do not use third-party accounts to receive or send money ✋.

   🔑 Enable two-factor authentication (2FA)
   
   to keep your account secure from hacking 🛡️.

🆘 What to do if you are the victim of a fraud attempt?

• Do not cancel the order ❌ or release the coins.

  
  

  Use the option Appeal (استئناف) 📢 on Binance.
  

  Submit all evidence (transfer photos 📷, conversation 💬, bank details 📑) to the relevant team.

  
  📝 Summary

Trading via P2P on Binance is a useful and fast tool 🚀 if used with caution. However, any leniency in verifying the identity of the other party or dealing outside the platform may lead to financial losses 💔 or even legal issues ⚖️.

Always make your motto:

“Do not trust anyone outside the escrow system 🔐, and do not release the hold until you verify it yourself ✅.”

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