Hereâs how you can protect yourself from P2P crypto scams:
Only use reputable P2P platforms: Stick to P2P networks with strong security measures and solid reputations. Platforms like Binance P2P and Paxful offer escrow services and dispute resolution to protect you during transactions.
Check user profiles: Before starting any transaction, take a look at the other partyâs profile. Check their track record, completion percentage and reputation. If the profile looks suspicious or incomplete, steer clear.
Secure payment methods: Make sure the other party is using a safe, verified payment method. Irreversible options like gift cards or prepaid cards should only be used if you 100% trust the other party. Always use the platformâs escrow services to ensure both sides fulfill their obligations.
Never disclose personal information: Donât share your private keys or login credentials with anyone. Scammers might use phishing tactics or pretend to be customer support to trick you into revealing this information.
Enable two-factor authentication (2FA): Adding 2FA provides an extra layer of security. Even if a scammer gets your login info, they wonât be able to access your account without the second verification step.
Stay skeptical: Always approach deals cautiously, especially if they seem too good to be true. Make sure to research who youâre dealing with before committing to any transaction