Looking back at the screenshot taken in 2024, at that time the USDT/VND exchange rate in the P2P market was quite stable, hovering around the 25,515 VND mark.
However, this year the market has seen extremely strong fluctuations. From the peak price zone of 28,000, the exchange rate has continued to adjust downward to 27,000, then 26,000, and even today, as Vietnam begins to have new news about the introduction of stricter laws/regulations for management, the exchange rate has quickly retreated to 25,640 VND/USDT (close to the 2024 price level).
When new legal news comes out, it’s completely normal for the market to react and for prices to fluctuate. However, the stronger the market fluctuations, the easier it is for users’ psychology to get rushed (panic selling or FOMO rushing to buy the dip)—and this is exactly the "golden time" for scammers on P2P to operate.
To protect your assets during volatile market days, strictly follow the P2P 4-Point Safety Checklist:
🛡️ Safe P2P Trading Checklist When the Market Fluctuates
1. "Own-account" trading is the top priority
In a legal environment that is becoming more and more tightened, transparency of fund flows is extremely important.
When Selling: Absolutely DO NOT receive money from a third party (the sender name differs from your trading partner’s Binance account name). If the name is wrong, ask them to refund the correct amount back to that account and file a complaint.
When Buying: Only use a personal bank account (account holder) that matches the KYC name on Binance to transfer money.
2. Don’t let "FOMO/FUD" cloud your judgment
Even if the price is jumping constantly and you want to trade really fast, NEVER click "Payment received/Unlock" before checking the banking app.
Don’t trust screenshots of transfer receipts/bills.
Don’t trust SMS or Email messages (they can be forged very precisely).
Only unlock after you log into the banking app yourself and see the balance has increased.
3. Choose reputable merchants
Don't choose newly created accounts just because there are differences of a few dozen đồng in the exchange rate. Prioritize merchants with Gold or Diamond Badges, with a 30-day order completion rate of over 95%, and a large number of transactions.
4. Follow Binance’s platform
Scammers often use the excuse, "The market is crashing; trade via Zalo/Telegram for speed." Reject it immediately! Keep 100% of the evidence within the Binance chat and transfer money within the Binance escrow chat. Leaving the exchange’s Escrow system means you deprive yourself of the protection right.
💡 Closing words: New regulations will make the long-term market more transparent and safer. What we need to do right now is stay calm, avoid panic selling, and always put P2P security first. Be a wise trader!
@Binance Vietnam
