P2P trading on Binance is becoming increasingly popular as it is a simple and convenient way to buy and sell cryptocurrencies. However, as with any form of trading, P2P trading has potential pitfalls.
Using Binance P2P is a simple and secure experience if you follow a few simple but important guidelines:
1. All communication must be through Binance P2P chat: When conducting transactions, exchange necessary information only in the official Binance P2P chat. It uses a secure connection and archives all messages for better dispute resolution.
2. Do not transact OFF the platform: To avoid fraud, never transact outside the Binance P2P platform. Any transactions outside the platform are high-risk.
3. Make sure the counterparty's payment information matches their Binance account information and the transfer amount is correct: This will help avoid any financial discrepancies and ensure that you are working with a counterparty that has been verified on Binance. Please check that the order amount matches the amount you received on your bank card.
4. When selling cryptocurrency, don't transfer your assets before receiving payment: Wait until you receive full confirmation of payment before sending cryptocurrency. Do not agree to receive payment in several transactions, or from third parties, whose data do not match those specified in the order.
5. Beware of social media and messenger scams: Always be wary of false promises of profit or requests for your social media credentials.
Based on our experience, we have created a guide with simple solutions to these problems.
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