Binance P2P is a great platform to buy and sell cryptocurrency directly with other users. However, it is also a place where scammers are very active. Don't let your money fall into the wrong hands like I did! Here’s how scams occur and how you can protect yourself.
⚠️ 5 Common Scams on Binance P2P
1. Fake Payment Proof
Scammers send fake screenshots or documents to trick you into releasing cryptocurrency without thoroughly checking the transaction.
2. Impersonation Scam
They impersonate reputable traders or even Binance's support team to gain trust and manipulate transactions.
3. Chargeback Scam
After the transaction is completed, they request the bank to reverse the payment while still keeping your cryptocurrency.
4. Phishing Attack
Scammers use fake Binance emails or websites to steal your login information and hijack your account.
5. "Too Good to Be True" Trap
Scammers offer unusually low exchange rates to attract and exploit unsuspecting users.
🛡️ How to Protect Yourself?
✅ Thoroughly Verify Payments
Never trust screenshots. Always check transactions directly on your banking app or in your Binance transaction history before releasing cryptocurrency.
✅ Activate Additional Security Features
Enable two-factor authentication (2FA).
Set up an anti-phishing code to avoid fake emails or notifications.
✅ Trade on the Official Platform
Only trade through the official Binance app or website. Never conduct trades through third parties or unverified groups.
✅ Use Binance's Dispute Tool
If you notice anything wrong, use Binance's dispute tool immediately for quick and fair support.
🔒 Trade Safely, Stay Alert at All Times
Binance P2P is a powerful tool, but to use it effectively, you must always be cautious. Scammers often exploit your trust and urgency—don't give them the chance.
Follow these tips and refer to official security guides from Binance.
💬 Have you ever encountered a scam or have any advice to share? Comment below to help protect the trading community together!