something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Sometimes you might enter into the hand of the so I want you to understand that scammers is everywhere and since binance is not into existence in Nigeria many exchange platform will they come up and if you mistakenly join them you might be scam because nobody knows them and they want to utilize the opportunity since a bigger exchange is not in function in Nigeria in a longer. So the solution of your problem is that you have to contact the support team of that exchange and they also submit here receipt ID to that support team of the exchange, what will be indication that you have paid and not yet to receive your coin you have paid.. 
Topic: what would I do, if I paid for coin and the seller refused to release it. (Read 466 times)
April 14, 2024, 06:18:59 PM
April 13, 2024, 12:03:15 PM
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I don't know the exact things that they will do to the seller if that's the case, but I believe they will suspend the sellers operations, and will not let him continue. In short, the seller will be out "AS LONG AS" you have the proof to show that you really paid. Why create a thread like this if your transaction ended up as a successful one? I mean a quick google search will help you as well on what you will do. P2P on Binance works pretty well especially for me who is converting some of my Bitcoins to our own fiat currency around once or twice every month. I've been using it for a long time and so far, there hasn't been any problem with any of the sellers out there.
I don't know, but is anybody here experienced selling a coin/token, but didn't get the fiat money that they wanted? What did you do and what happened to the buyer of coin/token?
April 13, 2024, 10:39:23 AM
Traders going offline is rare scenario and you no need to worry as long as the funds are being in the escrow, even if the trader never came back online still mod can release the coins from escrow but it will take upto 48 hours in P2P exchanges.
Other possible reasons for a trader to refusing is the payment made via third-party name which isn't acceptable by most traders cause they worry about chargeback and funds laundered from hacked bank accounts.
Other possible reasons for a trader to refusing is the payment made via third-party name which isn't acceptable by most traders cause they worry about chargeback and funds laundered from hacked bank accounts.
April 12, 2024, 09:11:44 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Appealing is just the best thing to do whenever some one refuses to release a coin after payment buy then since Binance isn't available in Nigeria again you can get to try other exchange and see if they will be able to offer same service but for the sake of security, make sure to transact only small amounts first so you use that to get an idea into what their security action looks like because it may differ from that of Binance, Binance happens to be the number one exchange and so it's usually expected of them as the number one to be able to have good security protocol which ensures the safety of their customers buy i don't know how well it is actually with others so if you are trying others, always make sure to use a small amount for trials after which you can proceed to doing huge transactions.With Binance P2P whenever issues as this arises you can easily appeal and their customer service which is usually very quick to response will definitely respond as quick as possible but i don't really have an idea into how quick it is with other exchanges and that's why for a trial start with small amount.
As long as there is an uploadable and available screenshot of transaction, I believe the issue should get resolved in time if reported to customer service.
April 12, 2024, 06:31:05 AM
This is a service board discussion and I think you have just answered yourself, the exchange act as the third party for any P2P service on its exchanges so once the other second party doesn’t do his own part of the transaction you can simply just file a complaint to the exchange support.
I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
All is associated in this answer, that please me to respond to op, at first should have known that waiting for so long without reporting challenge at such point is very dangerous, beside he never tell how far he made effort to know if it's due to the guy not receiving the money send to him, I fully believe during exchange room for communication is there to show approval of the both parties where such communication cut short one need go straight to tender the report to the exchange official to avoid story.
April 12, 2024, 04:40:35 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Appealing is just the best thing to do whenever some one refuses to release a coin after payment buy then since Binance isn't available in Nigeria again you can get to try other exchange and see if they will be able to offer same service but for the sake of security, make sure to transact only small amounts first so you use that to get an idea into what their security action looks like because it may differ from that of Binance, Binance happens to be the number one exchange and so it's usually expected of them as the number one to be able to have good security protocol which ensures the safety of their customers buy i don't know how well it is actually with others so if you are trying others, always make sure to use a small amount for trials after which you can proceed to doing huge transactions.With Binance P2P whenever issues as this arises you can easily appeal and their customer service which is usually very quick to response will definitely respond as quick as possible but i don't really have an idea into how quick it is with other exchanges and that's why for a trial start with small amount.
April 10, 2024, 06:28:39 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
I had a reply for you, not until i read to the end and discovered you've already answered yourself, left for me i think your choice of topic contradicts your content cause in the end the seller later released the coin like you stated. Well I've experienced something similar and in my own case the seller was having a network issue so couldn't release on time. I was supposed to launch an appeal for time wastage but he chatted me with some reasons which is understandable.But in a case where the seller goes totally off and refused to release for 24 hours or more than, the next action to take is to launch an appeal, with the necessary requirements for prove like you've stated already.
April 08, 2024, 05:28:35 PM
Then you're scammed if the coin isn't released. But on which platform did you traded?
Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
There are other factors that can make someone not to release coin on time. The most I can point out is bad network or his phone went off. There are time when the internet service will be very bad and you can't do anything, at this point you just have to relax until the internet service in your region is restored. It could also be that the person is in a hostile environment at the moment and he can't possibly operate his phone or laptop. It could also be that he hasn't received alert and he is waiting for his bank to credit him. This scam of a thing is not just one sided, exchanges will always tell you not to release coins until your money is confirmed. You have to consider these factors first before labeling someone a scammer. There is always a 24 hours window before filing for appeal, you always have to get this at the back of your mind. Provided the 24 hours has not been exhausted you can't conclude that you have been scammed.Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
But some did really have the intention to scam but we can't blame the receiver for panicking after paying and just waiting for the release of the coin.
Even I, I'll be sweaty at that time when I should receive the coin but when the seller don't respond quickly with releasing it.
April 08, 2024, 02:42:46 PM
Then you're scammed if the coin isn't released. But on which platform did you traded?
Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
There are other factors that can make someone not to release coin on time. The most I can point out is bad network or his phone went off. There are time when the internet service will be very bad and you can't do anything, at this point you just have to relax until the internet service in your region is restored. It could also be that the person is in a hostile environment at the moment and he can't possibly operate his phone or laptop. It could also be that he hasn't received alert and he is waiting for his bank to credit him. This scam of a thing is not just one sided, exchanges will always tell you not to release coins until your money is confirmed. You have to consider these factors first before labeling someone a scammer. There is always a 24 hours window before filing for appeal, you always have to get this at the back of your mind. Provided the 24 hours has not been exhausted you can't conclude that you have been scammed.Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
I really agree to what you said because we humans we just judge things in one direction without looking the other way round because me I have been in this situation whereby I initiated a p2p transaction with an online merchant and immediately my network disconnected and I was so frustrated because the buyer made it clear that his transactions duration is within 15 minutes then if you don't release the crypto that he will make a report even if you later conclude the transaction, it made me switch over to my other sim card before i could get network and concluded the transaction, so some times people don't have intentions to scam us but maybe due to an unforseen challenges that may occur in the process of performing the operation may make it look as if they are trying to scam you.
April 01, 2024, 02:20:34 PM
Then you're scammed if the coin isn't released. But on which platform did you traded?
Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
There are other factors that can make someone not to release coin on time. The most I can point out is bad network or his phone went off. There are time when the internet service will be very bad and you can't do anything, at this point you just have to relax until the internet service in your region is restored. It could also be that the person is in a hostile environment at the moment and he can't possibly operate his phone or laptop. It could also be that he hasn't received alert and he is waiting for his bank to credit him. This scam of a thing is not just one sided, exchanges will always tell you not to release coins until your money is confirmed. You have to consider these factors first before labeling someone a scammer. There is always a 24 hours window before filing for appeal, you always have to get this at the back of your mind. Provided the 24 hours has not been exhausted you can't conclude that you have been scammed. Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
April 01, 2024, 02:18:54 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Yes that is true. That is why centralized exchange is programmed in a way that you need to send fiat first to the coin seller and you will get coin in return after successfuly sending the fiat. Binance or any Cex will automatically notify the recipient of the fiat to release the assets. And of which before you initiate the trading, binance will freezed the fund sothat the sender will not go back and sell to another person. the important of using a trading exchange is that physical p2p, people don't like to do things accordingly without laws, rules and regulations. We should be careful in what we do to avoid being scammed by people who do physical p2p. 
April 01, 2024, 01:33:53 PM
Performing p2p operations is very risky though the chances of getting scammed is on the minimal depending on the exchange you are using but one thing I like about some exchanges like binance is the ability for them to wait till you confirm that your full amount have been paid to you before you release your crypto because if they had made it like if you have placed an order and released crypto immediately without receiving payments yet the rate of frauds would have been on the increase.
Well, P2P trading isn't risky but only if the person making a trade makes sure they understand everything very well and they act according to the rules set by the exchange because you will encounter a lot of scammers and frauds where they will try to trick you into releasing your assets without paying you, or when you are buying, they would make you pay and then wouldn't give you the assets by trying to use some trick or something.But, if someone is aware of everything and has an active mind and is quick in reacting, they wouldn't get scammed, and if someone tries to scam them through a P2P platform, they can report their accounts to the management immediately so that they can take further action against them.
April 01, 2024, 01:32:54 PM
If you're using a reputable exchange, they will quickly address any issue related to the escrow they provide between the two users involved, but if you're making use of a physical escrow in which you don't trust the medium or party involved, you're doing such risk on your own, some will tell you they don't need an escrow provider in a physical transaction for buy and sell, we must ensure we have a trusted one and reliable type indeed.
March 31, 2024, 06:05:28 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Since you already explained yourself let me add this, firstly, the person you paid money to may not have received the money as a result of some network glitch that could be his reason for delaying the release of your coin because network can bounce the money back if not confirmed and some people will find it very difficult to repay the seller since they have gotten the coin. Secondly the seller may have gone offline when you made payments as a result of him having a flat battery no need to fear, contacting your customer support service helps to get it resolved faster, I remember being paid twice in a p2p transactions I made the same amount was debited the following week when I made another p2p transaction.
March 31, 2024, 07:23:55 AM
If it happened in Binance, then you may contact Binance's support. That's what you do. Binance's P2P services have a built-in escrow system in place primarily for this possibility. Just make sure you provide them the proofs that you have indeed made the payment already.
Even if the seller didn't release the funds, for as long as you have sufficiently proven to Binance that you have already made the necessary payment, Binance will release the funds for you.
Even if the seller didn't release the funds, for as long as you have sufficiently proven to Binance that you have already made the necessary payment, Binance will release the funds for you.
March 31, 2024, 05:52:48 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Performing p2p operations is very risky though the chances of getting scammed is on the minimal depending on the exchange you are using but one thing I like about some exchanges like binance is the ability for them to wait till you confirm that your full amount have been paid to you before you release your crypto because if they had made it like if you have placed an order and released crypto immediately without receiving payments yet the rate of frauds would have been on the increase.
March 30, 2024, 12:19:09 PM
Since is binance exchange you used to carry out the transaction, your coins are protected if you follow due process to carry out the transaction because every exchange app you are using to buy coins or sell coins have their procedure you must follow before your transaction will be successful.
The reason why the person didn't release the coins on time, maybe the person forgot that is dealing with someone in the market but assume you report the delay to binance official, I guess they will release the coins to you on time
The reason why the person didn't release the coins on time, maybe the person forgot that is dealing with someone in the market but assume you report the delay to binance official, I guess they will release the coins to you on time
March 27, 2024, 03:26:38 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more.
Binance is having issues with the Nigerian government but it is still functional, it's the P2P service that's no more available.
some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
I've carried out P2P trade on Binance a couple of times and I've never encountered any issue. I don't know the exchange you used but for you not to be able to raise a dispute after waiting for that long is a good reason to dump it for another. Though, I've not used Kucoin, MEXC and Bitget for P2P but they're reputable CEXs where you can buy and sell crypto to naira.
March 27, 2024, 11:20:18 AM
This is a service board discussion and I think you have just answered yourself, the exchange act as the third party for any P2P service on its exchanges so once the other second party doesn’t do his own part of the transaction you can simply just file a complaint to the exchange support.
I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
I think you've said it all. Just as the Op said that the trader released the coin after 3 hours. What matters most about this P2P exchange platforms is about you trading with the rightful exchange platform and also to be on the safe side, likely trade specifically only with verified traders whom the platform has been confirmed genuine so on a case like that of Op, it could be a delay of the fund to reflect into the receivers account which could be network issues considering the fact that the trader released the coin aftermath Op had been so worried. There also, it could also be that he has released the Coin but network along the lines may had obstructed it from a quick response. Let's consider you're the coin buyer Op, if you haven't confirmed your payment received you wouldn't want to release the Coin, that's just the basic. So if we can only get on the genuine traders with a reputable exchanges then there'd absolutely be no needs for panicks at cases like this but but it your conscience that justified your emotions then you can file a complaints suit to the exchange support team just as Op has also instigated. I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
March 27, 2024, 10:55:32 AM
As long as both the buyer and seller is verified, you both can drop complaints on either end if any party fails to do their part by releasing the funds ( either crypto or cash.) And as the one paying via fiat , the exchange will ask for a full detailed receipt as the fix the issue. On most exchanges, if you are the one selling, you are not to release the crypto until you have confirmed you received the fiat payment. On the other hand, if you are the buyer you would have to be first to release funds and the seller also has to make sure to confirm that he received the fiat before releasing the crypto.
On most centralized exchanges like binance you can't trade until you have successfully completed your KYC verification to avoid stolen funds that can't be traced.
On most centralized exchanges like binance you can't trade until you have successfully completed your KYC verification to avoid stolen funds that can't be traced.
March 27, 2024, 04:30:07 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
He can scam you because in binance buyer and seller is protected on their p2p platform. Also maybe the seller realize that he can't do his scam plans on your transaction since as you said you already reported it and he don't have a choice but to release the funds before binance do the necessary action and maybe he get penalize on that platform. Also there are certain instances that maybe the seller got issue maybe on connectivity or in real life that's why he didn't release the funds immediately. That circumstances sometimes happen so you also need to consider that, but all is fine since as you said the funds is already released so maybe next time seek for more reliable seller to avoid this problems.
March 27, 2024, 04:22:49 AM
Since the both of you have your account verified and also have reasonable amount of asset on your exchange account, the exchange court or representatives will take a look into the case and verify the whole issue to find out that who is at fault and such user if holder the other persons coin for no reason may have his own account suspended and they may release your coin to you, that is why there's a means of showing the evidence for making payment and you will also have to confirm that you receive it, the exchanges are trusted for these role of escrow service and they know how to handles such, sometime it may be the network actually from the other end, but aside this, if the intention was to manipulate, then the person may risk the loss of his account because he may be blocked.
March 27, 2024, 04:13:58 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
I can't stop laughing mate, you made a mistake and released your coins to a vendor on binance exchange and the vendor didn't credit the money to you, and the vendor went offline 
so after 3 hours he came back online? So you reported him and he credited you the money. So what is the need to create this thread again? You have already sorted out the problem. However you have already reported the vendor with your proves and the vendor have no other choice than to pay you your money.
This thread would have been interesting if you didn't know what to do, we would have tell you how to deal with it, but you already know what to do.
I think I understand what you wanted to do, you would have created this thread as a means of alerting newbies like you never to release their coins if they hant received their payment from any vendor.
March 27, 2024, 12:30:06 AM
Since nobody mentioned it: check out Bisq, it is an actually decentralized exchange (not a centralized exchange like Binance pretending to be decentralized) and it offers better security for trading and the issues that may arise. Other than that you have to either fully trust the other party or use a trusted escrow which you can always find on this forum with good reputations too.
March 26, 2024, 06:38:42 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more.
If you're going to trade on another platform, you should study the rules of your platform and how they handle such situations. And not only read the official guideline, but also look for discussions of such cases on that platform that happened to other traders, because on practice things could be handle a bit differently from what is publicly stated.
No one can answer your question in general, because platforms can have different rules.
March 26, 2024, 05:53:42 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
Am sure you are guiding people on how to make use of binance P2p, you are no longer asking question, when I started reading your post, I thought you were asking question, but before reading the post till the end, I notice that you already answered your question yourself. When you are making use of p2p, if you are having any problem with either buyer or seller, then you can easily appeal to binance, and they will call both the buyer and the seller to order to resolve the problem. If you have any problem when making use of p2p the best thing is just to appeal, then Binance customer support will handle it. Is this a question or a guide and recommendations you are given Binance exchange?
Beginning of the topic is a question, but ending of the post is recommendation. Since the OP already provided answer to his question, then it’s no longer a question but a recommendation, but it’s kind of funny to me. 
March 26, 2024, 05:30:55 PM
if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
You have answered the question your self. Binance exchange and some other exchanges that offer P2P services are well organized, they make sure every end user is satisfied while trading.
They provide the necessary tools required to make proper compliant so as to have good and perfect trade with no cheat that is why they allowed you to appeal in case your buyer or the seller did not respond as expected.
March 26, 2024, 05:11:33 PM
Then you're scammed if the coin isn't released. But on which platform did you traded?
Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
Taking 3 hours for the seller to release the coin after paying him is really alarming and tensioning. But since you've received the coin and it's been released, you have no problem at all.
You have to find a seller that has a good trading history or has 100% feedback depending on the platform that you are with.
March 26, 2024, 05:10:32 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
We can continue to grow by learning new things in the market, I've never stop believing the process and also making my findings. We should having enjoyable moments each time we're doing P2P trading because that's the easiest way of having possession of our profits from crypto. Binance is no longer legalized in Nigeria based on the roughly ongoing incident, the heavy crash of naira against the US dollar. Whenever one encounter such challenges, it's always advisable to report to customer's care or appeal because it's more associated to fraudulent activities. 
March 26, 2024, 04:36:28 PM
You should tell us the name of the exchange you used. There are other good options where you can buy and sell bitcoins aside Binance like Remitano, roqqu, e.t.c. When trading on p2p platforms, it’s important to check the review rating of the trader before transacting with them. I’m sure this person must have a record of delaying transactions.
March 26, 2024, 04:12:13 PM
Thr first thing you should do is to report the seller for not releasing the coin you bought which you already have sent the payment. Well, the story you told us ie that the seller takes a very long time to send the coins to you which is not good thing to do. You did wait for hours before you receive it since seller did release it and takes a long time to release the coins then you should still report that person because in my opinion, I think people like that may start to scam people.
March 26, 2024, 03:45:47 PM
Is this a question or a guide and recommendations you are given Binance exchange?
Of course we do experience such cases while doing p2p transactions on exchanges, but we are always safe since the exchange always stand as escrow to monitor the transactions till the end.
I always feel that p2p transactions while selling crypto to fiat is safer than while buying coin with fiat because you will be holding your coins till the payment is confirmed by you before releasing the coin to the buyer; that’s why when ever I wanted buying with fiat, I usually buy with little amounts repeatedly to avoid been scammed.
Of course we do experience such cases while doing p2p transactions on exchanges, but we are always safe since the exchange always stand as escrow to monitor the transactions till the end.
I always feel that p2p transactions while selling crypto to fiat is safer than while buying coin with fiat because you will be holding your coins till the payment is confirmed by you before releasing the coin to the buyer; that’s why when ever I wanted buying with fiat, I usually buy with little amounts repeatedly to avoid been scammed.
March 26, 2024, 03:01:26 PM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
But the coin was released to you. On the other centralized P2P exchanges, you can also report the person. Also that the coin is on the exchange address which is controlled by the exchange, the seller can not move the coin. The exchange will not let him to be able to withdraw the coin. This kind of thing can also happen on Binance unless you report it. You have nothing to do than to report the person if taking long. 
March 26, 2024, 11:20:30 AM
You are on the right track somehow you managed to use the P2P system with Binance and it didn't let you get scammed because of the security in place with the exchange. Other exchanges offer that P2P system if you ever want to do it and it is secured. I tried Bybit and xt. They have those P2P and it makes it easier for users like us to exchange fiat.
March 26, 2024, 11:19:56 AM
I am struggling to understand your question. What happened to you is what will happen if the seller refuse to release in a controlled transaction.
The OP is a bit unclear with the question; from what I understood, the OP wants to know what could be done aside from waiting patiently for either the sellers to release the coin or for Binance to come into play and check what is what.@Op, There is literally nothing much for you to do other than keep your proof of payment safe and wait for the support team to come and attend to the situation. If you have made a payment on a P2P transaction and you notice that the seller is not ready or willing to release your coin, the first thing you should do is file for an appeal.
Let it be known why you wait for the selling party to reply. Filing for an appeal most times triggers the seller to come online fast and attend to you, as appeal cases most times can lead to all their sales ads being restricted until the issue is resolved.
March 26, 2024, 11:18:59 AM
CEX reduce p2p scam risk but you should note that not all of these exchanges has good customers service including Binance, just Thank God they responded to you because alot of binance customers gives them negative review for their customer service. It's advisable to check previous feedback from users who has done p2p with such party before deciding to do one with them
I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
Truly this might be but to be frank it's well known to everyone doing p2p in Nigeria the recommended banks to use to avoid situations of such, like Palmpay, Opay and some others while if the other party is not using any of these banks I opt for another party to avoid issues of such 
March 26, 2024, 11:15:09 AM
I think you talking about p2p in Binance?
Usually, if you are the buyer on the said Binance under p2p and you deal with someone you paid him already and you didn't receive any response from him you should report it immediately or open an appeal to receive the payment if you indeed need the funds or the coin immediately.
3 hours is too much you need to open an appeal right away if you need the funds right away Binance will release it for you without the seller/buyer's consent. It happened to me before the appeal took too long to solve the only reason of the seller was "he forgot to release it" but it's fine now Binance has improved it and the appeal right now is much faster due to time limit it should resolved immediately.
Usually, if you are the buyer on the said Binance under p2p and you deal with someone you paid him already and you didn't receive any response from him you should report it immediately or open an appeal to receive the payment if you indeed need the funds or the coin immediately.
3 hours is too much you need to open an appeal right away if you need the funds right away Binance will release it for you without the seller/buyer's consent. It happened to me before the appeal took too long to solve the only reason of the seller was "he forgot to release it" but it's fine now Binance has improved it and the appeal right now is much faster due to time limit it should resolved immediately.
March 26, 2024, 11:15:04 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
One has to read the OP repeatedly to understand it. It is important to write clearly. First, you will get the best replies and suggestions if you can move this topic to the Nigerian Local board as there are other Binance p2p users who may have had a similar experience. Second,if you use any centralized exchange that accommodates p2p, they already have an inbuilt system that tackle these issues. This is the advantage of using their p2p services over the local physical p2p service where you do it with a friend or just some random person you met at the bar. The advantage being the security of funds when there is a delay in confirming payment and secondly a proper channel to investigate and resolve these types of disputes.
Edit- OP has been moved by one of the moderators to this board. Better. It gets a better and global opinions from others.
March 26, 2024, 10:59:26 AM
I am struggling to understand your question. What happened to you is what will happen if the seller refuse to release in a controlled transaction. If you are transacting on a centralized or decentralized service, there are protections for the seller and the buyer so none of them gets scammed. If you are transacting through an unregulated channel with no escrow, the seller can scam you with no repercussions.
Do your research on any exchange you want to buy or sell on before you make any deposits there.
- Jay -
Do your research on any exchange you want to buy or sell on before you make any deposits there.
- Jay -
March 26, 2024, 10:54:36 AM
This is a service board discussion and I think you have just answered yourself, the exchange act as the third party for any P2P service on its exchanges so once the other second party doesn’t do his own part of the transaction you can simply just file a complaint to the exchange support.
I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
I might been giving the other party an excuse here, he might not have received the money sent due to his network and that’s why it took those hours and holding on to it was the best decision he took. There could be case where the money might be reversed back to you after releasing the coins to you. Trusting only receipts is bad in P2P.
March 26, 2024, 10:47:10 AM
something triggered me to ask this question, As a new trader As I am, we know very well that binance is no longer in Nigeria any more. some weeks ago I paid for particular coin and the seller refused to release the coin to me, the next thing he do. He went Off line for about 3 hours before coming on line again,at the end of the day he released the coin to me after 3 hours. because binance security was so secured, if the person doesn't want to release the coin.you can quickly go to appeal and everything will be settled, after giving them the screenshot of your payment receipt.
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