This is a very important message for all those users whose country does not have legal crypto, or where there is a P2P scam with money stuck in the bank. This issue is common in #Pakistan, #India and some other countries where crypto is not legal from the government side.
Let me discuss the issues first and how this happens: When a Binance user wants to sell his crypto coins to a merchant, first of all, the merchant pays the user's bank. When the user receives the amount, they release the coins. After a few days, the user's bank account is blocked, and the money is stuck in the bank. When the user complains to the bank, the officer says this is a fraud payment, and there is no way to release the money. Sadly, we can't appeal to the government because they have already announced that they don't accept crypto in our country. How are you dealing in crypto?
The best solution to avoid this problem: When you want to sell your crypto, first of all, send your bank account, which has no amount, just an empty bank. When the merchant pays you, don't release the coins immediately. Before releasing the coins, cash your money from the bank through ATM or checkbook. When you receive the cash amount in your hand, then send him the money. Make sure that when the merchant pays you, you are at the bank to cash out instantly. After that, release the coins and deposit the money into another bank account.
Warning: ⚠️ When you receive payment at one bank, please don't transfer the amount to another bank through a digital app or bank transfer. If there is a chargeback on your bank, both accounts will be frozen. Thanks for understanding. 😊
