MY ONE AND ONLY P2P SCAM EXPERIENCE !
@Binance p2p is relatively safe compared to some other exchanges.
However, it is not entirely free from scammers!
HERE IS MY SCAM EXPERIENCE :
It was in 2019 when I was still very fresh in the crypto market , I wanted to sell some stable coins via p2p, when I placed the order, the buyer told me that it was a company's account and they only pay after releasing the coin. As a novice in the game then, I trusted him blindly and released the coin expecting payment from him. unfortunately , he was actually a scammer so he didn't pay me. I tried calling his phone number but I was blocked! Then I discovered I was scammed!
To prevent accidentally or ignorantly loosing of your fund during P2P transactions, apply these precautions below :
1. Place buy/sell p2p orders ONLY from Binance p2p verified merchants
2. Check the 30 days completion rate of the merchant - It is best if it is not below 90%
3. Compare the positive and negative feedbacks from his counterparts
4. Check total trades of the merchant- the higher the better with good corresponding feedbacks
5. Then when you finally placed a sell order, 🚫 don't be a victim of Proof of Payment (POP), ensure you got the correct amount in your account before releasing the coin.
Moreover , 🚫 *Don't tap on "Payment Received" area if you haven't and don't be fooled into releasing your crypto before payment 🚭 no matter what the buyer said to you 📌
6. If you are the buyer in p2p, please make sure to have a stable network so that you won't have any issues when trying to click on "I have paid "
You must click on I have made payment , and wait for the seller to release the coin, otherwise , the system will cancel the trade after the trade countdown believing that you didn't pay. So be careful not to miss it.
Let's stay safe !