P2P trading on Binance is a convenient way to exchange directly between users, but it also comes with its own risks. Let's take a look at common scams and how to protect yourself from scammers.
Common Forms of P2P Scams:
1️⃣ Fake Payment Documents:
Fraudsters send fake payment confirmations to trick sellers into releasing cryptocurrency without actually verifying the transaction.
2️⃣ Impersonation:
Scammers impersonate reputable traders or Binance support team to build trust, then manipulate trades.
3️⃣ Chargeback:
After the transaction is completed, the fraudster requests a chargeback from the bank, causing the seller to lose both the money and the cryptocurrency.
4️⃣ Phishing Attack (Phishing Through Fake Sites):
Fraudsters create fake Binance emails or websites to trick users into providing their login information.
5️⃣ "Too Good To Be True" Offers:
Unusually attractive exchange rates are a trick to lure users into falling into a scam.
How to Trade P2P Safely?
✅ Independent Payment Verification:
Always verify payments via bank or Binance app. Never rely on screenshots provided by the other party.
✅ Enable Security Features:
Use Two-Factor Authentication (2FA) and anti-phishing codes for added security.
✅ Trade Only on Binance:
Avoid trading outside of the Binance platform or with unverified third parties.
✅ Report Suspicious Activity:
Use Binance's built-in dispute resolution tool to handle unusual transactions.
Protect Your Assets Today!
Don't let scammers take advantage of your lack of vigilance. Stay vigilant, follow the security tips above, and stay updated with Binance.