BINANCE P2P SAFETY: WHEN SHOULD YOU NOT CANCEL AN ORDER?
This morning, I went to Binance P2P to buy 115.89 USDT from a merchant. The price was quite “soft,” the account has a Bronze Merchant badge, and the profile looks good with over 158,800 transactions and a completion rate of about 97.06%. So I created a trade order with them.
But before I transferred the money, the merchant messaged me in Chat and asked me to send the payment to a different bank account—using information that doesn’t match what was shown on the order.
To me, this is a classic red flag. At that time, the order was still in pending status, and I hadn’t transferred the money yet. So I chose Cancel Order. The trade ended, and I didn’t need to take any further steps.
However, if this happens one step later, my handling would be completely different.
For example, if the money has already been transferred and then I only discover the information is wrong or the merchant hasn’t released the crypto. At that point, I wouldn’t be able to hit Cancel anymore.
So I would click the Appeal button. Since I always keep the payment receipt, the Order ID, and the content in the P2P chat, when I Appeal, I provide those proofs to Binance Support so they can review and resolve the case according to the proper process.
Reason: Cancel may end the order’s status, but the funds I already sent to the bank won’t automatically return just because the order was canceled.
After this case, I noticed something quite important.
Same red flag, but the handling on P2P can be completely different, solely because the payment status has changed.
Whether to choose Cancel or Appeal shouldn’t be based on a feeling like “does this order seem suspicious?” Instead, it should be based on the status of the funds. A red flag tells me the transaction may have problems, but the payment state determines what I should do next.
#binancep2pantoan @Binance Vietnam $CYS ✨
This morning, I went to Binance P2P to buy 115.89 USDT from a merchant. The price was quite “soft,” the account has a Bronze Merchant badge, and the profile looks good with over 158,800 transactions and a completion rate of about 97.06%. So I created a trade order with them.
But before I transferred the money, the merchant messaged me in Chat and asked me to send the payment to a different bank account—using information that doesn’t match what was shown on the order.
To me, this is a classic red flag. At that time, the order was still in pending status, and I hadn’t transferred the money yet. So I chose Cancel Order. The trade ended, and I didn’t need to take any further steps.
However, if this happens one step later, my handling would be completely different.
For example, if the money has already been transferred and then I only discover the information is wrong or the merchant hasn’t released the crypto. At that point, I wouldn’t be able to hit Cancel anymore.
So I would click the Appeal button. Since I always keep the payment receipt, the Order ID, and the content in the P2P chat, when I Appeal, I provide those proofs to Binance Support so they can review and resolve the case according to the proper process.
Reason: Cancel may end the order’s status, but the funds I already sent to the bank won’t automatically return just because the order was canceled.
After this case, I noticed something quite important.
Same red flag, but the handling on P2P can be completely different, solely because the payment status has changed.
Whether to choose Cancel or Appeal shouldn’t be based on a feeling like “does this order seem suspicious?” Instead, it should be based on the status of the funds. A red flag tells me the transaction may have problems, but the payment state determines what I should do next.
#binancep2pantoan @Binance Vietnam $CYS ✨