Here are some reasons why people may face P2P (Peer-to-Peer) scams on Binance:
1. Lack of verification: Not verifying the trader's profile and credentials before initiating a trade.
2. Ignoring warnings: Disregarding Binance's warnings and alerts about suspicious accounts or activities.
3. Poor communication: Not clearly understanding the terms of the trade or communicating effectively with the counterparty.
4. Rushed decisions: Making hasty decisions without thoroughly evaluating the trade or counterparty.
5. Unsecured payment methods: Using unsecured payment methods, such as direct bank transfers, instead of Binance's escrow service.
6. Falling for fake profiles: Being deceived by fake profiles or impersonators claiming to be legitimate traders.
7. Not monitoring transactions: Failing to monitor transactions and account activity regularly.
8. Lack of patience: Being impatient and rushing into trades, making it easier for scammers to take advantage.
9. Insufficient research: Not researching the counterparty or trade thoroughly, leading to a lack of understanding.
10. Trusting unverified sources: Trusting unverified sources, such as social media or messaging apps, for trading opportunities.
Remember, being cautious and taking necessary precautions can help minimize the risk of falling victim to P2P scams on Binance.
