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"Crypto is neither legal nor illegal, it's grey area, no one can arrest us" - is totally false statement. Let me explain you why and why you should avoid P2P scams that leads to above scenario.
Nowadays in Pakistan & India, mostly people rely on sending or receiving USDT through P2P but there is big issue in all of this.
What's the issue?
- Majority or 99 percent of P2P Merchants are using accounts that no one can confirm if they belong to their friends or they gave some bucks to their employees and are using their accounts.
- After you sell USDT, 95 percent of cases, you will receive either notice from Investigation Agency or your account get freeze.
- People will tell you that Crypto is grey area and no one can launch any case on you but it's totally false, Agencies can use "Money Laundering", "Digital assets buying from non legal exchange" etc charges on you.
How to be safe then?
- Always try to find groups or people that are willing to do crypto deals face to face or through trusted means. I know this will take time but its very worthy in long run.
- When you do the above step, always make a proper stamp paper(if dealing is somewhat above millions) and state some sort of real reason like you're giving him same freelancing services and he is sending you money (Buying USDT) or you're purchasing some sort of course and sending him money(Selling USDT).
In this way, if he scams you tomorrow or agencies call you, you can always show that stamp paper and due to stamp paper legal authority, no one can do anything and you're totally safe.
- Use online stores to purchase stuff, order them to your home and sell them out, for example commerce stores that accept payments in Crypto etc
There are tons of other methods but I will post them one by one in next post.
#Binance #P2P #Pakistan #BSCUserExperiences #bitcoin
"Crypto is neither legal nor illegal, it's grey area, no one can arrest us" - is totally false statement. Let me explain you why and why you should avoid P2P scams that leads to above scenario.
Nowadays in Pakistan & India, mostly people rely on sending or receiving USDT through P2P but there is big issue in all of this.
What's the issue?
- Majority or 99 percent of P2P Merchants are using accounts that no one can confirm if they belong to their friends or they gave some bucks to their employees and are using their accounts.
- After you sell USDT, 95 percent of cases, you will receive either notice from Investigation Agency or your account get freeze.
- People will tell you that Crypto is grey area and no one can launch any case on you but it's totally false, Agencies can use "Money Laundering", "Digital assets buying from non legal exchange" etc charges on you.
How to be safe then?
- Always try to find groups or people that are willing to do crypto deals face to face or through trusted means. I know this will take time but its very worthy in long run.
- When you do the above step, always make a proper stamp paper(if dealing is somewhat above millions) and state some sort of real reason like you're giving him same freelancing services and he is sending you money (Buying USDT) or you're purchasing some sort of course and sending him money(Selling USDT).
In this way, if he scams you tomorrow or agencies call you, you can always show that stamp paper and due to stamp paper legal authority, no one can do anything and you're totally safe.
- Use online stores to purchase stuff, order them to your home and sell them out, for example commerce stores that accept payments in Crypto etc
There are tons of other methods but I will post them one by one in next post.
#Binance #P2P #Pakistan #BSCUserExperiences #bitcoin
#P2P
P2P stands for Peer-to-Peer, which refers to a decentralized network where individuals can share resources, data, or services directly with each other without the need for a centralized authority or intermediary.
Key Characteristics of P2P Networks:
1. *Decentralized*: P2P networks are decentralized, meaning that there is no central server or authority controlling the network.
2. *Equal Nodes*: Each node (computer or device) in the network is equal and can act as both a client and a server.
3. *Direct Communication*: Nodes communicate directly with each other, without the need for intermediaries.
4. *Resource Sharing*: P2P networks enable the sharing of resources such as files, bandwidth, and computing power.
Examples of P2P Applications:
1. *File Sharing*: BitTorrent, uTorrent, and other file-sharing platforms use P2P technology.
2. *Cryptocurrencies*: Bitcoin, Ethereum, and other blockchain-based cryptocurrencies rely on P2P networks for transaction verification and validation.
3. *Voice over Internet Protocol (VoIP)*: P2P VoIP platforms like Skype enable direct communication between users.
4. *Distributed Computing*: Projects like SETI@home and Folding@home use P2P networks to distribute computing tasks among participants.
Advantages of P2P Networks:
1. *Improved Security*: Decentralized nature makes it harder for hackers to target a single central point.
2. *Increased Efficiency*: Direct communication and resource sharing can lead to faster data transfer and processing.
3. *Cost-Effective*: P2P networks can reduce the need for centralized infrastructure and intermediaries.
Challenges and Limitations:
1. *Scalability*: P2P networks can become complex and difficult to manage as they grow.
2. *Security Risks*: While decentralized, P2P networks can still be vulnerable to security threats and malicious activity.
3. *Regulation*: P2P networks often operate outside traditional regulatory frameworks, raising concerns around governance and accountability.
P2P stands for Peer-to-Peer, which refers to a decentralized network where individuals can share resources, data, or services directly with each other without the need for a centralized authority or intermediary.
Key Characteristics of P2P Networks:
1. *Decentralized*: P2P networks are decentralized, meaning that there is no central server or authority controlling the network.
2. *Equal Nodes*: Each node (computer or device) in the network is equal and can act as both a client and a server.
3. *Direct Communication*: Nodes communicate directly with each other, without the need for intermediaries.
4. *Resource Sharing*: P2P networks enable the sharing of resources such as files, bandwidth, and computing power.
Examples of P2P Applications:
1. *File Sharing*: BitTorrent, uTorrent, and other file-sharing platforms use P2P technology.
2. *Cryptocurrencies*: Bitcoin, Ethereum, and other blockchain-based cryptocurrencies rely on P2P networks for transaction verification and validation.
3. *Voice over Internet Protocol (VoIP)*: P2P VoIP platforms like Skype enable direct communication between users.
4. *Distributed Computing*: Projects like SETI@home and Folding@home use P2P networks to distribute computing tasks among participants.
Advantages of P2P Networks:
1. *Improved Security*: Decentralized nature makes it harder for hackers to target a single central point.
2. *Increased Efficiency*: Direct communication and resource sharing can lead to faster data transfer and processing.
3. *Cost-Effective*: P2P networks can reduce the need for centralized infrastructure and intermediaries.
Challenges and Limitations:
1. *Scalability*: P2P networks can become complex and difficult to manage as they grow.
2. *Security Risks*: While decentralized, P2P networks can still be vulnerable to security threats and malicious activity.
3. *Regulation*: P2P networks often operate outside traditional regulatory frameworks, raising concerns around governance and accountability.
Binance P2P in Pakistan: Navigating Benefits and Challenges
Peer-to-peer (#P2P ) trading on platforms like Binance has become a significant avenue for cryptocurrency transactions in Pakistan. It offers a direct way for users to buy and sell digital assets with each other, often using local payment methods. However, alongside the benefits, there are also important spans and challenges to consider.
Benefits of Binance P2P in Pakistan:
* Accessibility and Flexibility: Binance P2P provides a platform for Pakistanis to access the cryptocurrency market, even with limited traditional banking support for crypto transactions. It supports a wide array of payment methods popular in the country, offering flexibility for users.
* Lower Fees: Compared to traditional exchanges, P2P transactions on Binance can often have lower or even zero fees, making it a cost-effective option for frequent traders.
* Wider Range of Cryptocurrencies: Binance P2P typically offers a diverse selection of cryptocurrencies for trading, providing users with more investment opportunities.
* Direct Control and Negotiation: Users can directly negotiate terms and prices with their counterparties, potentially leading to more favorable deals.
* Escrow Service for Security: Binance implements an escrow system that holds the cryptocurrency until both parties confirm the transaction, reducing the risk of fraud. This adds a layer of security to the direct transactions.
* Ease of Use: The Binance P2P platform is generally user-friendly and accessible through both the Binance app and website, making it suitable for beginners.
* Potential Profit Opportunities: Users have the ability to set their own prices, offering opportunities to profit based on market fluctuations and their trading strategies.
Spans and Challenges of Binance P2P in Pakistan:
* Regulatory Uncertainty: The legal status of cryptocurrency trading in Pakistan remains somewhat ambiguous. While there isn't a clear prohibition, the State Bank of Pakistan (SBP) has cautioned against virtual currencies and advised financial institutions not to facilitate transactions involving them. This lack of clear regulation can create uncertainty for users.
* Risk of Scams and Fraud: Despite security measures like escrow, P2P platforms are not immune to scams. Common fraudulent activities include:
* Fake Payment Proofs: Sellers may receive manipulated screenshots as proof of payment.
* Chargeback Scams: Buyers may initiate a chargeback after receiving the cryptocurrency, reversing the payment.
* Cancellation After Payment: Fraudulent sellers might cancel the order after receiving payment but not release the crypto.
* SMS Scams: Scammers may try to obtain personal information through fake SMS messages.
* Bank Account Freezes: A significant challenge reported by Pakistani P2P users is the freezing or suspension of their bank accounts by local banks when involved in crypto-related transactions. Banks often flag such transactions as suspicious due to the lack of clear regulatory guidelines.
* Verification Issues: While #kyc (Know Your Customer) processes are in place, some merchants may request additional verification, which can be perceived as mistrustful by some users and lead to disputes.
* Price Manipulation: There have been reports of large buyers potentially manipulating #USDC prices on P2P platforms in Pakistan, leading to losses for smaller traders.
* Counterparty Risk: As transactions are direct, there's always a risk of dealing with untrusted individuals. Users must carefully check the reputation and trading history of their counterparties.
* Time Sensitivity and Disputes: Impatience from buyers or sellers can lead to premature disputes. It's crucial to allow reasonable time for the transaction to be completed.
Navigating Binance P2P Safely in Pakistan:
* Trade with Verified Merchants: Prioritize trading with Binance verified merchants who have a proven track record and higher security deposits.
* Verify Payments Carefully: Always confirm receipt of funds in your bank account before releasing cryptocurrency. Do not rely solely on screenshots.
* Use the Binance P2P Chat: Communicate with your trading partner through the official Binance P2P chat to have a record of your conversations.
* Be Patient and Cooperative: Allow reasonable time for the other party to respond and complete the transaction.
* Understand Merchant Terms: Carefully read and understand the specific terms and conditions set by the merchant you are trading with.
* Report Suspicious Activity: If you encounter any red flags or suspect fraudulent behavior, report it to Binance immediately.
* Keep Personal Information Secure: Never share sensitive information outside the Binance platform.
* Start with Small Trades: If you are new to P2P trading, begin with smaller amounts to gain experience and confidence.
* Stay Informed: Keep up-to-date with the latest news and potential regulatory developments regarding cryptocurrency in Pakistan.
In conclusion, Binance P2P offers valuable benefits for cryptocurrency users in Pakistan, providing accessibility and flexibility in a market with limited traditional banking support for digital assets. However, users must be aware of the inherent risks, particularly regarding scams, bank account freezes, and regulatory uncertainties. By practicing caution, adhering to security guidelines, and staying informed, Pakistani users can navigate the Binance P2P platform more safely and effectively. Binance itself should also consider further collaboration with local banks and invest in user education to mitigate some of the challenges faced by its users in Pakistan.
#BSCTrendingCoins #BSCProjectSpotlight $BNB $BTC
Benefits of Binance P2P in Pakistan:
* Accessibility and Flexibility: Binance P2P provides a platform for Pakistanis to access the cryptocurrency market, even with limited traditional banking support for crypto transactions. It supports a wide array of payment methods popular in the country, offering flexibility for users.
* Lower Fees: Compared to traditional exchanges, P2P transactions on Binance can often have lower or even zero fees, making it a cost-effective option for frequent traders.
* Wider Range of Cryptocurrencies: Binance P2P typically offers a diverse selection of cryptocurrencies for trading, providing users with more investment opportunities.
* Direct Control and Negotiation: Users can directly negotiate terms and prices with their counterparties, potentially leading to more favorable deals.
* Escrow Service for Security: Binance implements an escrow system that holds the cryptocurrency until both parties confirm the transaction, reducing the risk of fraud. This adds a layer of security to the direct transactions.
* Ease of Use: The Binance P2P platform is generally user-friendly and accessible through both the Binance app and website, making it suitable for beginners.
* Potential Profit Opportunities: Users have the ability to set their own prices, offering opportunities to profit based on market fluctuations and their trading strategies.
Spans and Challenges of Binance P2P in Pakistan:
* Regulatory Uncertainty: The legal status of cryptocurrency trading in Pakistan remains somewhat ambiguous. While there isn't a clear prohibition, the State Bank of Pakistan (SBP) has cautioned against virtual currencies and advised financial institutions not to facilitate transactions involving them. This lack of clear regulation can create uncertainty for users.
* Risk of Scams and Fraud: Despite security measures like escrow, P2P platforms are not immune to scams. Common fraudulent activities include:
* Fake Payment Proofs: Sellers may receive manipulated screenshots as proof of payment.
* Chargeback Scams: Buyers may initiate a chargeback after receiving the cryptocurrency, reversing the payment.
* Cancellation After Payment: Fraudulent sellers might cancel the order after receiving payment but not release the crypto.
* SMS Scams: Scammers may try to obtain personal information through fake SMS messages.
* Bank Account Freezes: A significant challenge reported by Pakistani P2P users is the freezing or suspension of their bank accounts by local banks when involved in crypto-related transactions. Banks often flag such transactions as suspicious due to the lack of clear regulatory guidelines.
* Verification Issues: While #kyc (Know Your Customer) processes are in place, some merchants may request additional verification, which can be perceived as mistrustful by some users and lead to disputes.
* Price Manipulation: There have been reports of large buyers potentially manipulating #USDC prices on P2P platforms in Pakistan, leading to losses for smaller traders.
* Counterparty Risk: As transactions are direct, there's always a risk of dealing with untrusted individuals. Users must carefully check the reputation and trading history of their counterparties.
* Time Sensitivity and Disputes: Impatience from buyers or sellers can lead to premature disputes. It's crucial to allow reasonable time for the transaction to be completed.
Navigating Binance P2P Safely in Pakistan:
* Trade with Verified Merchants: Prioritize trading with Binance verified merchants who have a proven track record and higher security deposits.
* Verify Payments Carefully: Always confirm receipt of funds in your bank account before releasing cryptocurrency. Do not rely solely on screenshots.
* Use the Binance P2P Chat: Communicate with your trading partner through the official Binance P2P chat to have a record of your conversations.
* Be Patient and Cooperative: Allow reasonable time for the other party to respond and complete the transaction.
* Understand Merchant Terms: Carefully read and understand the specific terms and conditions set by the merchant you are trading with.
* Report Suspicious Activity: If you encounter any red flags or suspect fraudulent behavior, report it to Binance immediately.
* Keep Personal Information Secure: Never share sensitive information outside the Binance platform.
* Start with Small Trades: If you are new to P2P trading, begin with smaller amounts to gain experience and confidence.
* Stay Informed: Keep up-to-date with the latest news and potential regulatory developments regarding cryptocurrency in Pakistan.
In conclusion, Binance P2P offers valuable benefits for cryptocurrency users in Pakistan, providing accessibility and flexibility in a market with limited traditional banking support for digital assets. However, users must be aware of the inherent risks, particularly regarding scams, bank account freezes, and regulatory uncertainties. By practicing caution, adhering to security guidelines, and staying informed, Pakistani users can navigate the Binance P2P platform more safely and effectively. Binance itself should also consider further collaboration with local banks and invest in user education to mitigate some of the challenges faced by its users in Pakistan.
#BSCTrendingCoins #BSCProjectSpotlight $BNB $BTC
Dear all anyone can guide me if when we used p2p for deposit or withdrawal purpose and broker show different account with not match deposit account is that any issue ?? And our transection will be completed with no risk ??? Please guide me ?? #P2P #P2PScam #P2PScamAwareness #P2PScamWarning #P2PTrading
šØAccording to Pakistani log users, jo #P2P is new, en sub ko request hy, mera ye post dek rahi hy, Take care of your wallets and bank accounts. Ki verification zaror Kari, or DG Khan, Rahim Yar Khan, or Multan in cities ki users ko avoid Kari. ye log frued kar rahi hy. Two two IDs use karti hy. One apni nam si, or one apni ghar ki female ki nam si. Binanace ki sath sath logo.
place follow me ā¤š..
#p2p
place follow me ā¤š..
#p2p
Rumero-Nagamoti:
fraud kaisy hota hy p2p main? binance to return krdaita hy
Good Afternoon Friends.
According to James:
šØ The Harsh Reality of USDT Trading in Pakistan ā Awareness for Everyone!
Cryptocurrency trading has gained significant traction in Pakistan, especially USDT (Tether), which is widely used for transactions and international payments. However, the local P2P (peer-to-peer) market presents a frustrating and, at times, exploitative experience for buyers and sellers alike.
Why Is USDT Trading So Unfair in Pakistan?
1. High Buy Price, Low Sell Price
When people in Pakistan want to buy USDT, the rate is often 300 PKR or more. However, when they try to sell, the rate drops drasticallyāsometimes as low as 281 PKR or even less. This massive price difference leaves traders at a loss, making them feel like they are being unfairly treated.
2. Fraud & Scams in P2P Transactions
Many traders have reported cases where they send PKR to a P2P seller, but instead of receiving USDT, the seller disappears or delays the release. Some even refuse to release USDT without an appeal, forcing buyers to go through a lengthy dispute process. This unethical practice is causing financial distress and breaking trust in the system.
3. The Struggle of Being a Pakistani Trader
Many crypto traders in Pakistan feel embarrassed or hesitant to reveal their identity because of the discrimination they face in international trading. Some P2P platforms have unspoken biases, making it harder for Pakistan-based traders to conduct fair transactions.
ā Be Ready to Appeal ā If a trader doesnāt release your USDT, file an appeal immediately on the platform. Most crypto exchanges provide support in such cases.
ā Raise Awareness ā Share your experiences and warn others to prevent them from falling into the same trap.
The Need for Regulation and Support
While cryptocurrency regulations in Pakistan remain uncertain.
Letās Support Each Other!
If youāve been a victim of such issues, share your story. The more we talk about this, the harder it will be for scammers to exploit people. Tag your friends and fellow traders to spread awareness#P2P #crypto
According to James:
šØ The Harsh Reality of USDT Trading in Pakistan ā Awareness for Everyone!
Cryptocurrency trading has gained significant traction in Pakistan, especially USDT (Tether), which is widely used for transactions and international payments. However, the local P2P (peer-to-peer) market presents a frustrating and, at times, exploitative experience for buyers and sellers alike.
Why Is USDT Trading So Unfair in Pakistan?
1. High Buy Price, Low Sell Price
When people in Pakistan want to buy USDT, the rate is often 300 PKR or more. However, when they try to sell, the rate drops drasticallyāsometimes as low as 281 PKR or even less. This massive price difference leaves traders at a loss, making them feel like they are being unfairly treated.
2. Fraud & Scams in P2P Transactions
Many traders have reported cases where they send PKR to a P2P seller, but instead of receiving USDT, the seller disappears or delays the release. Some even refuse to release USDT without an appeal, forcing buyers to go through a lengthy dispute process. This unethical practice is causing financial distress and breaking trust in the system.
3. The Struggle of Being a Pakistani Trader
Many crypto traders in Pakistan feel embarrassed or hesitant to reveal their identity because of the discrimination they face in international trading. Some P2P platforms have unspoken biases, making it harder for Pakistan-based traders to conduct fair transactions.
ā Be Ready to Appeal ā If a trader doesnāt release your USDT, file an appeal immediately on the platform. Most crypto exchanges provide support in such cases.
ā Raise Awareness ā Share your experiences and warn others to prevent them from falling into the same trap.
The Need for Regulation and Support
While cryptocurrency regulations in Pakistan remain uncertain.
Letās Support Each Other!
If youāve been a victim of such issues, share your story. The more we talk about this, the harder it will be for scammers to exploit people. Tag your friends and fellow traders to spread awareness#P2P #crypto
Good Afternoon Friends.
šØ The Harsh Reality of USDT Trading in Pakistan ā Awareness for Everyone!
Cryptocurrency trading has gained significant traction in Pakistan, especially USDT (Tether), which is widely used for transactions and international payments. However, the local P2P (peer-to-peer) market presents a frustrating and, at times, exploitative experience for buyers and sellers alike.
Why Is USDT Trading So Unfair in Pakistan?
1. High Buy Price, Low Sell Price
When people in Pakistan want to buy USDT, the rate is often 300 PKR or more. However, when they try to sell, the rate drops drasticallyāsometimes as low as 281 PKR or even less. This massive price difference leaves traders at a loss, making them feel like they are being unfairly treated.
2. Fraud & Scams in P2P Transactions
Many traders have reported cases where they send PKR to a P2P seller, but instead of receiving USDT, the seller disappears or delays the release. Some even refuse to release USDT without an appeal, forcing buyers to go through a lengthy dispute process. This unethical practice is causing financial distress and breaking trust in the system.
3. The Struggle of Being a Pakistani Trader
Many crypto traders in Pakistan feel embarrassed or hesitant to reveal their identity because of the discrimination they face in international trading. Some P2P platforms have unspoken biases, making it harder for Pakistan-based traders to conduct fair transactions.
ā Be Ready to Appeal ā If a trader doesnāt release your USDT, file an appeal immediately on the platform. Most crypto exchanges provide support in such cases.
ā Raise Awareness ā Share your experiences and warn others to prevent them from falling into the same trap.
The Need for Regulation and Support
While cryptocurrency regulations in Pakistan remain uncertain.
Letās Support Each Other!
If youāve been a victim of such issues, share your story. The more we talk about this, the harder it will be for scammers to exploit people. Tag your friends and fellow traders to spread awareness#Binance #P2P #trading #cryptocurreny
šØ The Harsh Reality of USDT Trading in Pakistan ā Awareness for Everyone!
Cryptocurrency trading has gained significant traction in Pakistan, especially USDT (Tether), which is widely used for transactions and international payments. However, the local P2P (peer-to-peer) market presents a frustrating and, at times, exploitative experience for buyers and sellers alike.
Why Is USDT Trading So Unfair in Pakistan?
1. High Buy Price, Low Sell Price
When people in Pakistan want to buy USDT, the rate is often 300 PKR or more. However, when they try to sell, the rate drops drasticallyāsometimes as low as 281 PKR or even less. This massive price difference leaves traders at a loss, making them feel like they are being unfairly treated.
2. Fraud & Scams in P2P Transactions
Many traders have reported cases where they send PKR to a P2P seller, but instead of receiving USDT, the seller disappears or delays the release. Some even refuse to release USDT without an appeal, forcing buyers to go through a lengthy dispute process. This unethical practice is causing financial distress and breaking trust in the system.
3. The Struggle of Being a Pakistani Trader
Many crypto traders in Pakistan feel embarrassed or hesitant to reveal their identity because of the discrimination they face in international trading. Some P2P platforms have unspoken biases, making it harder for Pakistan-based traders to conduct fair transactions.
ā Be Ready to Appeal ā If a trader doesnāt release your USDT, file an appeal immediately on the platform. Most crypto exchanges provide support in such cases.
ā Raise Awareness ā Share your experiences and warn others to prevent them from falling into the same trap.
The Need for Regulation and Support
While cryptocurrency regulations in Pakistan remain uncertain.
Letās Support Each Other!
If youāve been a victim of such issues, share your story. The more we talk about this, the harder it will be for scammers to exploit people. Tag your friends and fellow traders to spread awareness#Binance #P2P #trading #cryptocurreny
P2P Trading Growth: Binanceās peer-to-peer (P2P) trading platform has gained traction in African countries like Nigeria, Kenya, and South Africa, allowing users to buy and sell crypto directly with local currencies.#P2P
#SECCrypto2.0 #JELLYJELLYFuturesAlert #scam
I have mentioned the QR code scanner. It is used to login in your account on other devices (desktop or mobile phone).
*Use it if you want to log in your account on other device.
* Never scan if someone as you any privacy change from Binance to perform any action.
* Mostly you can experience this type of #SCAM while #P2P trade.
I have mentioned the QR code scanner. It is used to login in your account on other devices (desktop or mobile phone).
*Use it if you want to log in your account on other device.
* Never scan if someone as you any privacy change from Binance to perform any action.
* Mostly you can experience this type of #SCAM while #P2P trade.
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