Topic: Please Be Careful With Binance/Others P2p - page 2. (Read 710 times)

That's what  I wonder too but I come notice another thing for this binance app wey be the vendor no fit pop up for the available list of people willing to buy or sell except the particular vendor has coins worth that amount, this na suggestion I no know if na actually so this exchange dey run am sha but I feel like na so but if na really the way them dey run am nai be say e go hard to run with big money because binance to supposed even allow you start a trade if you actually no get that kind amount of bitcoin for your wallet.

Thanks man for the reply. Well all dis question na because I get one kind funny experience di first and only time wey I use P2P and na for Remitano. I no select any vendor, I just go to swap, select the asset wey I want sell and input di value. Then I receive a address wey I send the funds to. I think they merged me with a vendor, I send $80 USDT I no receive anything afta I don wait for some time and naso I take sleep off. Wen I wake up di next morning I see credit alert from my bank and some days afta wen I open di Remitano app dem bin don send me many messages.

So with di experience wey una dey share here, I was suppose to go to P2P to pick a vendor and initiate a trade. No much talk sha, na to just use like $10 - $20 with Binance P2P to really know how e dey go for there.  

yes as you ask questions no bad, u don use P2P before ? I they ask because if you they use am you for know say the receiver no need add any wallet address for there before them complete any trade, Watin they happen be say Binance they freeze the coin way the person way wan sell they sell, then then the buy go use the account way the seller provide carry pay (note, diz account Binance no get access to am as nah personal account way no get connection with Binance aside say the name must match with Binance name).

If you send money and you no click on paid then the Binance app go assume say u no wan do the trade again but if u pay then due to network issue or anything, u get right to contact the person way been they sell lay complaints say u don pay, even Binance support go give advice make d person check if in receive or not if yes then make u either open new trade with same person or the seller use ur Binance ID carry send the exact amount give u.

I they always wonder why taking advantage of each other has become a common thing among our selfs, this  p2p is nothing logical I send funds you release, nothing stressful, but some idiots will want to steal from you. People have similar experiences in one form or another, and I love what you did after presenting him with the evidence and he refused to file an appeal. You made a daring decision here, and after the evidence mounts, he'll start to worry that his account might be suspended. Because of this, it's crucial to exercise caution before letting your money disappear. After all, there are numerous accounts of people fleeing with large sums of money.

Dem say person wey dey ask question no dey miss road. So wen person select a particular vendor to trade with, di address wey di person go receive na dat of Binance abi? And di moment di person don complete with di transaction, di person suppose come back come tap on "paid", then wait for the vendor to credit im account first so dat im go confirm to Binance make dem release di funds to the vendor abi?

In this particular case your relative forgot to let Binance know that he/she has sent the fund, so that the vendor could be alerted to send the money as well. I don't think the vendor can lay claim to funds because it's trapped with Binance and what you did was really wise.

Something happened to me sotime ago how funny  the vendors actually behave sometimes and I'm sure many people would have been the victim.When I needed to sell a few USDT to start my journey, I entered the quantity to be sold and clicked "sell." After waiting for about 30 minutes, I got dressed and started getting ready when I noticed that this guy had not yet made any payments even though he had marked that he had paid. I called him and told him about the situation. He advised me to release the USDT, but I made it clear to him that I would not do so until I had been paid. As a result, I was unable to travel, and later that evening, the man cancelled the order. Someone just have to becareful with this guys.

Some vendors d act funny atimes. How they want make you release your coin wey be sae you never receive any alert for your phone. Like sae if they are one d go release their coin without receiving alert.

The vendor intentional do that to test whether you go fall mugu for wetin em wan display for your head but thank God sae you didn't and stood your ground not to release your coin until you receive alert.

Me ma sef, I don experience the same encounter with one of binance vendor long term ago. As you take talk your own experience na so my own take happen. I refuse not to release my coin until em kukuma give up to transfer the money to my account.  As for, I for no release my coin give am atall. Since em wan find whom em go chop mugu for em head.

Binance support will never intervene unless the buyer/seller disputes the transaction and provides sufficient payment evidence. Remember that Binance will never ask you for a payment receipt since it is readily manipulated. Instead, most P2P support requests a shot video record of your bank app and statement of an account prior to the day of the transaction. This is the only method the system support can confirm payment and release the required assets to the owner.

And, in response to your question, Binance will never release assets unless they check the information presented is true, therefore such a situation will never occur.


That is why they only seek bank statements because they are the one thing that cannot be altered and whatever is reflected in your statement is what you have in your account. This is the only valid document they confirm transaction with.

If I can remember vividly, I think I attended a similar case like this for a relative, where she wanted to buy a few USDT from Binance using the P2P option. She opened her order, selected the vendor to work with, and clicked on the payment option. After successfully making the payment, she forgot to click on paid and was dealing with other things until the time ran out. She checked back and could not find active trade history. She contacted me, which I checked, and tried chatting up the vendor, but they refused to use the send option of Binance pay ID.

After too much chat and disagreement with the guy who refused to receive the payment, the only option I had was to create another order with the same amount and figure from the same guy, click pay immediately, and send the old receipt as proof of payment. The guy wanted to disagree with the payment. I quickly moved the issue to appeal, and the customer support was so kind and in my favour as they asked both of us to provide evidence of payment and an account statement. To cut the whole story short, the guy later realised the fund was due to pressure.

So unless the scammer doesn't have an active order online, there are always little chances of receiving back the money, as they can follow the same procedure in a different way since the scammer is the one receiving.

Sorry about that. The problem is not the exchange itself since they don't have a way of tracking fiat payment from the asset buyer. If the buyer provides a proof, they don't have a way to verify it too. It works both sides though like in your case where the seller denied receipt of the payment. Its not just Binance but also Bybit and Kucoin. Its a problem that is yet to be solved until it is, its best to stay active when ever we open p2p trades on these exchanges to counter things like this.

An ideal solution would be a way to track the transaction on chain so that it can be probable.

This is practically the major problem everyone who is into p2p transaction will face because this issue is basically the root issue with any exchange and I have also experienced such and in my case I was the one buying and I had sent the money and the person was insisting that  he didn't receive payment on which I even went as far as also downloading my transaction statement and sending it as proof but the vendor was still persistent on not releasing the coins till I had to file an appeal my self and in no moment he contacted me that he has released the coins which from my own end I understood the whole reason why he actually refuse to release the bitcoin.

These days no be time wey person go dey take dey hear story about money wey loss o. Person need be vigilant unto the exchange matter because scammers full every where so. Na the fake alert wey dem dey send they baffle me pass. As you talk about transaction first before release Na wetin I dey do so. As I receive alert I don buy card first and transfer to confirm the genuity of the transaction before person go fall victim of these scammers them wey no get conscience.

I no go lie scammers don plenty pass genuine people of I start to dey talk about my own matter now concerning this Binance thing eeh evgo be like say I carry the matter for head or say my own too much. I lost $125 last two weeks for this Binance matter like dis and the wey dem use binance take scam me till now I still dey surprise because I no believe say I fit fall for the trap but e happen and my eyes open more. Right now if dem like make payment send Me payment I go check for my bank app if the money don reflect not just atimes I dey even use part of the money buy data or airtime just to be sure say no be fake credit alert. Truth be told all this exchanges no really care if you lost your funds ooo laslas Dem go ask you to provide evidence say you no receive money and you go explain tire your money don go no evidence.

This is a very good advice, most especially for newbies, those who are very new to binance p2p, and not just binance, but on other p2p platforms like Remitano, Paxful and so on, i have used all of this platforms and I tell you all that, scammers are everywhere, and if you loose your guard, they go use you chop, many times i have encountered same issue both on Binance p2p and Remitano P2p, (I stopped using paxful for some time now), what I usually do is that, immediately the buyer signaled that he or she has sent the payment, and I check my account and find nothing, i immediately put the trade in dispute mode and let the buyer know in the chat that I have not received the payment, and that i will release the trade immediately I get his payment, what ever he or she is saying after this is up to him, I wont bother or disturb myself, until I get the payment, before I release the trade, I have never released a trade without receiving money first, no matter how bad the banking network is, I must make sure to receive my money before I release trade..

And to make things a bit easier for me and the buyers I trade with, I use Opay to receive money, Opay does not waste time to credit your account immediately money comes into it, even when banking networks are down, they will still credit your account as soon as they confirm funds come in.

This is the main reason why the buyer is asked to send to bank account first because Binance knows that anyone that is selling has a purpose for doing that and needs fiat. That is why we should use apps from banks or palm pay and opay or Kudda  to receive payment in other to see the funds,immediately the buyer sends it. If you dey use only bank account, alert might be a problem because of bank network but with apps,you will see the funds when done. I haven't witness this but anytime I receive a call from the merchant that he has sent the money, I go straight to check my balance before releasing the coin

Bros, even if him send screenshot wey show say the transaction don already dey successful from his/her end, don't release coin because some of them fit use fake alert to deceive us.

I have experience such things more than once in the past, some of them will letter cancel the trade if they disturb you and you didn't release coin for them, that is why I chose to be using Opay so that you no go tell me say na my bank issue, we all know say Opay na one of the fastest when it comes sending and receiving of money so once the vendor talk say him don send, I de go stright to my Opay app to confirm, once I confirmed then I release his coin for him.

Nobody go withhold funds to person wey follow due process for transaction. Naim make binance dey talk say make buyers and sellers dey make sure say the payment evidence dey inline with the name wey dey registered for binance so I see no reason why person no go release assets wey dem don pay for already. Even if dem report you, you too go to tell binance say name wey pay no match with wetin you see for online. After all Na same binance dey tell to dey extremely cautious because if we release assets without confirmation we dey on our own. So you get dey vigilant.

I think this was one of the first guidance I was given when I wanted to start using P2P for the first time in binance long time ago. I’m a person that’s very skeptical about online trading and very careful not to get scam or fall in the hands of scammers whatsoever. I haven’t actually experienced such scenario of buyer clicking on payment sent when they haven’t actually sent it.

The only one I experienced was that he clicked on payment sent and I didn’t receive the money on time which I needed to use the money urgently, I reported him since I waited for hours and couldn’t use the money and the coin was already freeze by binance and can’t initiate a new trade without finishing that one. It was a long process but I later received the money after 6+ hours and it was caused by network issue from the banks.

Wetin worry me for dis matter be say binance, de like fiat bank for matters like dis, people de rely on any information wey dem see say di exchange give, to be authentic. As dem don approve di transaction, and dat one on it's own suppose be assurance say di money don enter. Anyway e de good say you know wetin de, and refuse to release your bitcoin, odawise binance for deny you like Judas, tell you say you de on your own, notwithstanding say na dem show you say di transaction de successful.

From dis your thread make me de wonder weda person fit to sue di exchange, if di person lose money based on di exchange misinformation or negligence. Because person wey de new to binance fit fall prey to dis scammers, just because im rely on di information wey dem give am.

As a regular trader or user you should know that this is not new anymore because whomever that fails to understand may constantly lose their funds and I have never experienced this before why because when trading I do use bank that quickly delivered.
For instance, you can use Opay or Moniepoint.. this app doesn't waste time immediately they sent you money you received alert as moved them out to your main account because I don't trust those app so I won't recommend you to leave your fund over there for 24hrs without you sending it out to main account.