With the new year approaching, where do you think Bitcoin will go next?
Drop your prediction for this week's $BTC closing price in the comments of this post 👇
🎁The top 3 closest predictions will win 300 USDC, 150 USDC, and 50 USDC. Jump in and share your prediction now! 
*Campaign Period: 2024-12-30 07:00 to 2025-01-05 20:00 (UTC)
‼️Ensure you have updated your app to at least version 2.92. Also, make sure the "Also Repost" box is checked when replying to be eligible for entry.

Terms and Conditions:
This campaign may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the campaign period eriod. Ensure the "Also Repost" box is checked when replying, or your comment won't count as a valid entry.To ensure fairness, entries closed at 2025-01-05 20:00 UTC. The campaign's outcome will be based on the BTCUSDT price at  2025-01-05 23:59:59 UTC.If users made multiple comments, only the first comment will be considered as an eligible entry. Deleted comments are not eligible for rewards.In case of identical predictions, the earliest comment will be prioritized.Winners will be announced in the comments section of this post within 7 working days after the campaign ends and notified via a push notification under Creator Center > Square Assistant. Rewards will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to disqualify any account acting against the Binance Square Community Guidelines or Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.Where any discrepancy arises between the translated versions of this post and the original English version, the English version of this post shall prevail.Additional promotion terms and conditions can be accessed here.

Binance Peer-to-Peer (P2P) platform is a trusted marketplace for buying and selling cryptocurrencies directly with other users. However, like any online trading platform, it has attracted scammers. These malicious actors exploit unsuspecting traders, leading to financial losses. To protect your hard-earned money, it’s crucial to understand common P2P scams and learn how to avoid them.

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1. What Is Binance P2P?

Binance P2P allows users to trade cryptocurrencies directly with one another using local payment methods. Its decentralized nature means Binance facilitates the transaction but doesn’t control the counterparties, leaving room for scams if users are not vigilant.

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2. Common Binance P2P Scams

1. Fake Payment Confirmation

How It Works:

A scammer marks a transaction as "paid" without actually sending funds.

The victim, thinking payment is complete, releases the cryptocurrency.

How to Avoid:

Always check your bank or payment account to verify funds have arrived before releasing crypto.

Never rely solely on the buyer’s claims or screenshots.

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2. Chargeback Scams

How It Works:

The scammer uses stolen payment methods to pay for crypto.

Once the rightful owner reports the fraud, your account may be frozen, and you lose both the crypto and the money.

How to Avoid:

Only accept payments from verified accounts in the buyer’s name.

Avoid high-risk payment methods such as PayPal or gift cards for large transactions.

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3. Fake Escrow Links

How It Works:

Scammers impersonate Binance by sending fake links to “escrow services.”

Victims unknowingly release funds outside the Binance platform, losing their crypto.

How to Avoid:

Only trade within the official Binance app or website.

Never click on external links or download files from unknown sources.

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4. Overpayment Scams

How It Works:

A buyer intentionally overpays and requests a refund, then reverses the original payment.

This leaves you out of pocket while they keep the crypto.

How to Avoid:

Do not refund overpayments. Cancel the trade and return all funds via Binance's resolution process.

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5. Phishing Attacks

How It Works:

Scammers impersonate Binance support to steal sensitive information or your login credentials.

They use these details to access your account and drain your funds.

How to Avoid:

Binance will never ask for your password or sensitive details.

Use two-factor authentication (2FA) for added account security.

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3. Tips to Trade Safely on Binance P2P

1. Trade with Verified Merchants

Verified merchants are vetted by Binance, making them more trustworthy.

Look for users with high ratings and a history of successful trades.

2. Enable Two-Factor Authentication (2FA)

Add an extra layer of security to your account to prevent unauthorized access.

3. Use Escrow Protection

Binance automatically locks the crypto in escrow during the transaction.

Always complete trades through Binance’s official platform to benefit from this protection.

4. Check Transaction Details Carefully

Verify payment methods and names match the user’s Binance profile.

Never release crypto until payment is fully confirmed.

5. Report Suspicious Activity

Use Binance’s support system to report scams and suspicious users immediately.

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4. What to Do If You’re Scammed?

If you fall victim to a Binance P2P scam, take these steps:

1. Freeze Your Account: Secure your Binance account immediately.

2. Contact Binance Support: Submit a detailed report through Binance’s help center.

3. Report to Authorities: Notify your local law enforcement and provide all evidence.

4. Learn from the Experience: Review your trading habits to prevent future incidents.

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5. Conclusion

Binance P2P is a valuable tool for cryptocurrency trading, but it’s not immune to scammers. By understanding common scams and implementing safety measures, you can trade confidently while protecting your funds. Always remain vigilant, verify every transaction, and stick to Binance’s official platform for a secure trading experience.