While many discussions around #P2PScamAwareness have surfaced on Binance Square, few have provided concrete solutions to safeguard your money. Most articles emphasize security measures but stop short of explaining how to protect your funds after receiving them. In this post, weâll cover:
1. How P2P users fall prey to scams.
2. Effective security practices to prevent fraud.
3. An innovative method to ensure your funds stay secure after transfer (something you likely havenât heard before).
1. Common P2P Scams and How They Work
Scammers employ several tricks to deceive users during P2P trades:
Fake Payment Notifications: Buyers might send phony SMS alerts or fabricated payment screenshots to mark the order as paid. To avoid falling for this, always double-check your bank account for the correct amount and verify that the senderâs name matches. Reject payments from third-party accounts.
Chargeback Fraud: Some scammers use JazzCash or Easypaisa by sending payments via *786# code. These transactions often take 30 minutes to complete. Unsuspecting sellers release the crypto only to discover that the buyer canceled the transfer. Another chargeback tactic involves buyers calling their bank to claim the payment was made by mistake, freezing both the funds and the sellerâs account.
2. Security Tips to Prevent P2P Fraud
Protect yourself by following these strategies when selling USDT:
Only trade with verified merchants who meet the following criteria:
âą At least 98.2% completion rate
âą A minimum of 1,000 successful trades (with 100+ completed in the past month)
âą Positive feedback rating of 92% or higher
Once you identify a reliable merchant, try to trade exclusively with them to minimize risks.
3. A Game-Changing Method to Secure Your Funds
Some buyers may unknowingly send illicit funds, causing your account to freeze. To prevent this from impacting your savings, follow this strategy:
Open two bank accountsâfor example, one with MCB and another with UBL.
Use your MCB account solely for receiving payments from crypto transactions.
Once you receive payment in MCB, withdraw the cash from an ATM immediately and confirm the order on Binance.
Deposit the withdrawn amount into your personal UBL account. Avoid transferring money directly between these two accounts.
If MCB ever gets frozen, your UBL accountâand its balanceâwill remain unaffected. This approach ensures your personal savings are secure.
If you found this guide useful, share it with others to help them stay safe from scams. And let us know in the commentsâhave you seen this method shared anywhere else before?
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