*Protecting Yourself from Disputes on Binance P2P: A Cautionary Tale*🚨🚨‼️‼️‼️‼️‼️‼️‼️‼️‼️🚨🚨
A recent experience in Pakistan highlights the importance of taking extra precautions when engaging in peer-to-peer (P2P) transactions on Binance. Three separate disputes arose due to buyers' accounts being blocked, which in turn led to the author's account being blocked. The common factors among these disputes were:
- Buyers engaging in deals outside of Binance
- Buyers receiving payments from third parties
- Buyers purchasing USDT from the author and selling it at a higher rate elsewhere
- Buyers failing to provide proof or sources of funds from their transactions
To avoid similar complications, it is recommended to:
- Obtain a video statement from the buyer
- Request the buyer's mobile number
- Record a video of their transaction history from the last 24 hours
- Request the CNIC of the person who sent the funds, or cancel the trade if necessary
Taking these precautions can help protect your account and ensure more secure transactions on Binance P2P.
