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Greed is the number (1) reason people get scammed while using Binance P2P.
Second reason is inadequate research.
This thread aims to break down how you can avoid getting scammed using P2P.
Retweet for newbies.
Second reason is inadequate research.
This thread aims to break down how you can avoid getting scammed using P2P.
Retweet for newbies.
There are two main ways to purchase coin on binance.
1. P2P
2. Express
Before you proceed, follow on twitter. On Telegram, http://t.me/coinmata & chat on http://t.me/coinmata
Tag a friend and goodluck as you intend to be financially free
1. P2P
2. Express
Before you proceed, follow on twitter. On Telegram, http://t.me/coinmata & chat on http://t.me/coinmata
Tag a friend and goodluck as you intend to be financially free
Let me describe option 1 âP2Pâ as the manual process.
Here, you use certain factors to select who youâre buying from. These factors include;
⢠Number of completed sales: Here, you clearly do not want to deal with a seller with just 7 sales. Iâd rather deal with the one who..
Here, you use certain factors to select who youâre buying from. These factors include;
⢠Number of completed sales: Here, you clearly do not want to deal with a seller with just 7 sales. Iâd rather deal with the one who..
... completed 11,000 deals.
Mind you, I havenât confirmed the one with 7 trades as a scammer but as a Nigerian, Iâd be skeptical about patronizing a brand/business with no real time information and proof of service rendered.
Mind you, I havenât confirmed the one with 7 trades as a scammer but as a Nigerian, Iâd be skeptical about patronizing a brand/business with no real time information and proof of service rendered.
⢠Verification: Blue thick on twitter often times is a sign of sense and trust (Although some blue thick owners donât have sense).
Same can be applied on binance. A yellow thick seller has gone through rigorous process to get verified and thus can be trusted.
Same can be applied on binance. A yellow thick seller has gone through rigorous process to get verified and thus can be trusted.
⢠Rating: As a business owner, you really need your customers to always share review/feedback when you complete a deal.
A positive review can lead a stranger to buy from you.
Likewise, a negative review can ruin your business to the ground.
A positive review can lead a stranger to buy from you.
Likewise, a negative review can ruin your business to the ground.
⢠Price: This is where greed comes to play.
Five (5) sellers are selling USDT at 497/$ while one (1) displays 400/$. Here, you clearly should stay off the cheap price.
Remember, when itâs too good to be true, something is definitely wrong. Me too Iâm speaking English fah
Five (5) sellers are selling USDT at 497/$ while one (1) displays 400/$. Here, you clearly should stay off the cheap price.
Remember, when itâs too good to be true, something is definitely wrong. Me too Iâm speaking English fah
For option 1 âP2Pâ, let all these factors come into play when you want to buy and Iâm 99.9% certain you wonât get scammed.
Ensure you finish this thread as thereâs a vital point youâre yet to read.
Ensure you finish this thread as thereâs a vital point youâre yet to read.
2. Express
This is the automatic process. Binance goes through the selection process to match available sellers to buyers & vice versa.
Itâs the safest.
However, there could be delay due to bank alert or forgetfulness on either buyer or sellerâs part.
This is the automatic process. Binance goes through the selection process to match available sellers to buyers & vice versa.
Itâs the safest.
However, there could be delay due to bank alert or forgetfulness on either buyer or sellerâs part.
Time frame to make payment to seller is 15mins and for buyer to receive coin is 15mins.
If after this time frame you havenât received your coin, you can contact the seller and ask for reason.
If itâs a favorable response, you can give seller some time.
If after this time frame you havenât received your coin, you can contact the seller and ask for reason.
If itâs a favorable response, you can give seller some time.
Favorable responses include;
âIâm yet to get alert/receive paymentâ
âSorry, I forgotâ - it has happened to me before so itâs a fav response which you must forgive.
âIâm yet to get alert/receive paymentâ
âSorry, I forgotâ - it has happened to me before so itâs a fav response which you must forgive.
However, if coin isnât disbursed in hours, you can initiate an appeal and submit screenshot/statement of account showing you made payment.
VERY IMPORTANT: NEVER SEND COIN BEFORE YOU RECEIVE PAYMENT & NEVER CLICK PAYMENT MADE WHEN YOU HAVENâT SENT MONEY.
VERY IMPORTANT: NEVER SEND COIN BEFORE YOU RECEIVE PAYMENT & NEVER CLICK PAYMENT MADE WHEN YOU HAVENâT SENT MONEY.
