P2P ‼️
Is there an alternative?
Are there any problems?
How long have you been using it?
How do I use it?
Follow me at the moment there is no real alternative to the P2P market.
Even the recently popular cards are not a real alternative to P2P for several reasons.
1- High fees.
2- High exchange rate.
3- It has a daily and monthly withdrawal limit.
The main purpose of these cards is to buy coffee and pay a restaurant bill, but you cannot withdraw your money from the market with them, so the P2P market has no alternative at the moment, but the problem of freezing accounts is very serious and its reason is clear.
For example, after you sell USDT and receive the money in your bank account, the bank freezes your account based on suspicions of money laundering. Why?
Because the bank account that was transferred to you was part of a money laundering operation.
In this case, the platform that acts as an intermediary is not responsible because its role is limited to ensuring that each party receives their money, and this actually happened.
Now the problem is in the bank account linked to the operation and the regulatory authorities in this country. The problem of freezing accounts is more widespread in several countries, but to be honest, I have been in the P2P market for more than 3 years, buying and selling, and my affairs are good.
This is not luck but I have four rules for myself in the P2P market:
1- Deal with trusted merchants: Binance sets marks for trusted merchants.
Try to avoid untrustworthy traders even if they offer better prices, because you may pay for this by freezing your account.
2- Check the transaction history: If the merchant has a large transaction history, this reduces the possibility of him being a fraud.
3- Communicate through the platform only: After you open the deal, do not communicate with the trader outside the platform.
Make sure the merchant details match the details of the person who sent you the money. This is important to avoid any problems if your account is frozen.
4- Rely on dealing with merchants you have dealt with before: If you have dealt with a specific merchant and the transfer has been going on for a few weeks, for example, without any problems, then rely on dealing with this merchant in the P2P market on Binance in the future.
Because in this way you reduce the risk of dealing with new traders and your account activity is better as it receives money from one account than from several accounts.
