#binancep2pantoan @Binance Vietnam Full summary of the user protection mechanisms on Binance P2P
1. Escrow – The core protection layer
When placing a buy order, all the seller’s crypto is immediately locked within the Binance system.
The seller cannot withdraw or cancel that coin.
Only after the seller confirms that they have received the full payment and clicks “Release” will the crypto transfer to the buyer’s wallet.
If payment is not made on time → the order is canceled and the coin is returned to the seller.
If there is a dispute → the coin remains locked until Binance finishes handling it.
→ Protects both sides: buyers don’t fear losing money, and sellers don’t fear losing coins.
2. Mandatory KYC
All users must verify their identity (ID card + face).
The payment account holder name must match exactly the name on the KYC.
Increases accountability and supports investigations in case of incidents.
3. Shield Merchant / Verified Merchant
Merchants are strictly vetted by Binance + must deposit a guarantee escrow.
They have special badges (Shield or a golden tick).
Trading with this group is safer.
In some cases where merchant errors lead to account restrictions, Binance may compensate (depending on the country).
4. Dispute system (Appeal)
First, prioritize chatting in the app.
If it can’t be resolved → click Appeal.
The other party has 10 minutes to respond.
If time runs out → Binance support steps in, reviews evidence, and makes a decision.
Crypto remains locked throughout the appeal process.
24/7 support.
5. Additional layers
AI monitors abnormal behavior and detects scams.
All chats in the order are recorded as evidence.
Trading outside the platform (Zalo, Telegram…) is prohibited → Binance won’t protect you if you leave the app.
$BLUAI
1. Escrow – The core protection layer
When placing a buy order, all the seller’s crypto is immediately locked within the Binance system.
The seller cannot withdraw or cancel that coin.
Only after the seller confirms that they have received the full payment and clicks “Release” will the crypto transfer to the buyer’s wallet.
If payment is not made on time → the order is canceled and the coin is returned to the seller.
If there is a dispute → the coin remains locked until Binance finishes handling it.
→ Protects both sides: buyers don’t fear losing money, and sellers don’t fear losing coins.
2. Mandatory KYC
All users must verify their identity (ID card + face).
The payment account holder name must match exactly the name on the KYC.
Increases accountability and supports investigations in case of incidents.
3. Shield Merchant / Verified Merchant
Merchants are strictly vetted by Binance + must deposit a guarantee escrow.
They have special badges (Shield or a golden tick).
Trading with this group is safer.
In some cases where merchant errors lead to account restrictions, Binance may compensate (depending on the country).
4. Dispute system (Appeal)
First, prioritize chatting in the app.
If it can’t be resolved → click Appeal.
The other party has 10 minutes to respond.
If time runs out → Binance support steps in, reviews evidence, and makes a decision.
Crypto remains locked throughout the appeal process.
24/7 support.
5. Additional layers
AI monitors abnormal behavior and detects scams.
All chats in the order are recorded as evidence.
Trading outside the platform (Zalo, Telegram…) is prohibited → Binance won’t protect you if you leave the app.
$BLUAI