I once placed a P2P order and found the payment method wasn’t suitable, so I intended to cancel. I thought it was just a normal action until I started asking myself: if anyone can cancel at will, how does Binance determine whether a merchant is trustworthy?
Previously, I often viewed canceling an order as straightforward—if I no longer wanted to proceed, I would cancel. But when I checked the Binance P2P Merchant Guidelines documentation, this way of thinking started to look problematic.
Binance states clearly that merchants are not allowed to “cancel orders arbitrarily.” In addition, the order completion rate over the past 30 days is one of the metrics used to evaluate merchants; a low completion rate may result in being removed from the merchant program.
I kept reading the trading principles to see whether Binance absolutely forbids canceling. It doesn’t—the documents still describe cases where merchants can cancel, for example when the counterparty’s payment account information does not meet the requirements or when the user refuses certain additional verification steps.
At this point, I had to adjust my initial understanding.
The issue isn’t that “canceling orders is wrong.” The issue is the word “arbitrarily.” Binance is distinguishing between a valid reason to terminate a trade and canceling an order without grounds.
Hold on—this still isn’t enough to say that canceling once will definitely be penalized. The documentation discusses evaluation criteria and violation scenarios, rather than simply punishing you for pressing cancel just once.
What’s probably more noteworthy is this: in P2P, an action that seems very small is actually placed within an entire system for assessing a merchant’s completion performance and reliability.
#binancep2pantoan @Binance Vietnam $BTC
Previously, I often viewed canceling an order as straightforward—if I no longer wanted to proceed, I would cancel. But when I checked the Binance P2P Merchant Guidelines documentation, this way of thinking started to look problematic.
Binance states clearly that merchants are not allowed to “cancel orders arbitrarily.” In addition, the order completion rate over the past 30 days is one of the metrics used to evaluate merchants; a low completion rate may result in being removed from the merchant program.
I kept reading the trading principles to see whether Binance absolutely forbids canceling. It doesn’t—the documents still describe cases where merchants can cancel, for example when the counterparty’s payment account information does not meet the requirements or when the user refuses certain additional verification steps.
At this point, I had to adjust my initial understanding.
The issue isn’t that “canceling orders is wrong.” The issue is the word “arbitrarily.” Binance is distinguishing between a valid reason to terminate a trade and canceling an order without grounds.
Hold on—this still isn’t enough to say that canceling once will definitely be penalized. The documentation discusses evaluation criteria and violation scenarios, rather than simply punishing you for pressing cancel just once.
What’s probably more noteworthy is this: in P2P, an action that seems very small is actually placed within an entire system for assessing a merchant’s completion performance and reliability.
#binancep2pantoan @Binance Vietnam $BTC
