Here are some common ways to stay safe in Binance P2P:
Only trade with verified and known sellers. This is the most important step you can take to protect yourself from scams. You can check a seller's verification status by looking for the green checkmark next to their name.
Use the escrow service. The Binance P2P escrow service is a holding mechanism for funds in any pending transaction. This means that your funds will be held by Binance until the seller has delivered the crypto to you. If the seller does not deliver the crypto, you can contact Binance customer support and they will release your funds to you.
Beware of phishing scams. Phishing scams are emails or messages that appear to be from Binance, but are actually from scammers. These emails or messages will often contain links that, when clicked, will take you to a fake Binance website. If you enter your login information on this fake website, the scammers will be able to steal your funds.
Only use secure payment methods. When paying for crypto on Binance P2P, you should only use secure payment methods. This means that you should avoid using payment methods that are easily reversible, such as PayPal or credit cards.
Be aware of common scams. There are a number of common scams that occur on Binance P2P. These scams include fake proof of payment scams, chargeback fraud, wrong transfer scams, and man-in-the-middle attacks. If you are not familiar with these scams, you can read more about them on the Binance Academy website.
By following these tips, you can help to protect yourself from scams and keep your funds safe when trading on Binance P2P.
Here are some additional tips:
Do your research. Before you trade with a seller, take some time to research them. This includes checking their feedback, reading their reviews, and looking for any red flags.
Communicate with the seller. Before you make a trade, be sure to communicate with the seller. This will help you to get to know them and to make sure that they are legitimate.
Be patient. Don't rush into a trade. If something doesn't seem right, wait until you are sure before you proceed.
By following these tips, you can help to ensure that your P2P trading experience is safe and secure.
