I’ve noticed that the trio of Escrow, Chat, and Dispute Resolution don’t operate independently—they’re essentially a chain of defense mechanisms. If you remove one layer, the remaining two become almost meaningless.
Escrow is the first and most important layer: as soon as a trade is matched, the seller’s coins are locked, and no one can withdraw until both parties finish confirming on the platform with over 310 million verified accounts. In particular, the mobile P2P segment accounts for as much as 59% of all P2P transactions on the exchange.
Chat in the order is the second layer. It’s easy to overlook, but it serves as the evidence Binance uses to assess disputes when opening a complaint. The other party only has 10 minutes to respond before the system switches to waiting for the Binance team to intervene.
Dispute Resolution is the final layer, but it isn’t as fast as many people think—there have been real cases where it took up to 10 days to be fully handled and refunded.
In the way I see it, these three layers only truly protect the users who know how to use all three— they don’t automatically protect everyone.
#binancep2pantoan @Binance Vietnam
Escrow is the first and most important layer: as soon as a trade is matched, the seller’s coins are locked, and no one can withdraw until both parties finish confirming on the platform with over 310 million verified accounts. In particular, the mobile P2P segment accounts for as much as 59% of all P2P transactions on the exchange.
Chat in the order is the second layer. It’s easy to overlook, but it serves as the evidence Binance uses to assess disputes when opening a complaint. The other party only has 10 minutes to respond before the system switches to waiting for the Binance team to intervene.
Dispute Resolution is the final layer, but it isn’t as fast as many people think—there have been real cases where it took up to 10 days to be fully handled and refunded.
In the way I see it, these three layers only truly protect the users who know how to use all three— they don’t automatically protect everyone.
#binancep2pantoan @Binance Vietnam