Bitcoin Forum

This happened to last month or thereabout and and yesterday again it repeat itself. I place an order to sell coins and in Binance, we are warned that we should received the money before releasing the coins to the buyer and if you release your coins, and the transaction failed, or the vendor did not send you the money, Binance will not reliable for your negligence and you are on your own. So after when I had planned the order, I waited for like 40 minutes for him to send the money so I could released the coins. And finally the guy said he has send the money but me I have not received the money. But the release link has shown yellow.
And I refused to release the coins since I have not seen the money in the bank account, and the guy was disturbing to release the coins but I refused. And later the guy asked me to send him another account number and I did, and he send the money to the second account number and I received the funds and I also released the coins.

All what I am saying here is, mostly to those who are not aware of this please be careful when dealing with vendors in Binance and any other exchange. Don't release your coins when you have not received your money. If the matter is serious tell the person to send you a screenshot of the payment slip. And make such you check the date, time and, minutes to know the exact time the transaction took place. And if all the information are correct then you can release the coins, because there are some times that the delay is from your side. But be careful. And how many of you have experienced that before?

If you did not see the money on your bank account by checking you bank account through either the web or app, do not send the money until you see the money credited into your bank account. Do not ask for screenshot, it can be fake. The coin is on Binance, the only thing the buyer can do is to report you, but Binance will not do anything if you are not manipulating and able to defend youself with statement of account if need be. It is easy for a buyer to scam than a seller.

Yes that is true, but there was a time Binance has released my coins for a buyer because I didn't release the coins for the buyer. On that faithful day, after placing the order, I slept off and the lady called me to release the coins because I dropped my contact on the chat box, and reported me so Binance made a request from her site and she sent them the screenshot, so they released the coins for her and dropped a very big bogus written note for me to read. Men I read only the first paragraph and I became tired. And since they have already released the coins, I only called the lady back and apologized and she accepted my apology.

Binance ask the woman for payment screenshot or statement of account? Before the coin can be released for the women, that means Binance has seen evidence that the women paid the money. I do not think screenshot can easily give that without doubt, but if the woman downloaded her statement of account and send it fast, that is still better of a valid evidence than a screenshot that can be easily manipulated.

I remember a day that I used BinanceP2P. The buyer messaged me that he as sent the money but I did not see it. He sent the screenshot of the payment from GTBank which looks suspicious to me as ₦10 was also deducted. I may be wrong but the payment was suspicious to me. I told the buyer to contact his bank customer care. He sent me message that he contacted the bank customer care and said it was a technical issue that they are working on it. After a day or two days or so, he messaged me that he has seen the money in his bank. I told him to send the money so that I can release the coin, he did not but cancelled the transaction.

Good update bro, I think many people will learn lesson from this your transaction you experience with binance vendor yesterday and I like the way you show your wiseness not to release your coins without receiving alert and confirm the particular amount agree on in your account. like me in the binance P2P, I must receive alert and confirm it before I will respond to the vendor that I have received the payment because there are some vendor using fake alert, and once you discovered the vendor fake alert he or she will quickly tell you sorry it's a network error let me resend it again before the money will appear in your account. Well, anybody that will fall victim in this kind of scammers in binance P2P vendor is not the fault of binance P2P because it is your duty to confirm the money first in your account because releasing that coins.

Wow, so binance can actually complete a trade without the permission of the person holding back, I'm impressed.
Please I have a question, what if after the report by the lady and providing transaction evidence, binance try to reverse the transaction but the money has already been withdrawn by the other business partner

This is definitely a good warning to all, do not take screenshots as evidence because they could easily be manipulated, in fact if not now there was a thing called schedule on palmpay then that you will get a receipt for sending fake alert and if the person believes it then there funds is gone.

Base on experience early this year, some binance vendor tried same thing with me, I wanted to sell some bitcoin and he sent me a fake receipt that he sent it from GTbank, luckily for me I used Opay then because of bank troubles during cash crises then. When I checked my account balance nothing was there and the transaction history didn’t show any pending transactions because if it was actually sent Opay will have a pending transaction there.

When I returned to tell the vendor about it he told me it was my bank that I should release it and the money will arrive later I declined and he threatened to report to the support but before he could do that I reported first and then the support asked him for the receipt and ask me to chat with my bank support too after the live chat with Opay they blatantly told me that the transaction ID on that receipt doesn’t exist on there database so I got back to the support only for him to lie that the money has been reversed back to his account. He then cancel the transaction instead of even continuing which clearly shows he didn’t he no money to pay then but wanted to pull that trick from first place, had I been naive to realize the coins then I would have been scammed.

This is how it is on CexP2P. Also on P2P (I mean decentralized P2P like Bisq and Agoradesk), they make use of 2-of-3 multisig which makes escrow possible. If you follow the right things to do, you will not be scammed.

Binance can not reverse the transaction if the woman was able to withdraw it because the coins has been given the woman. But I do not know how Binance will handle such situation. Maybe if Binance releases the coins, but the woman will not be able to withdraw the coin and wait for the seller to respond. But we should not think of it this way.

Agbe yes that can happen in p2p exchange where one party reports/dispute the trade and being able to provide sufficient evidence,  and the other party in the other hand doesn't keep in touch,  binance or any other crypto exchange you are using like Remitano will go ahead verify the payment and release the coin to the buyer.

I have experienced that on remitano a couple of times before where I lost my 2FA security and couldn't verify payment on the account,  so what I do when I want to use that account to exchange my Bitcoin,  is to always reach out to support to help confirm the trade once I have seen the money in my bank account.

Agbe also be careful when someone asks for an account number outside the one provided on the exchange,  this can aid the buyer to pay you through a third-party account without your knowledge and that can lead to troubles since most hackers could make such third-party payment through the victim accounts and if investigated all accounts that transactions flow into may be implicated.

That is why, Binance or other cryptocurrency exchanges always warn against third-party parties,  aside from the one stated on the exchange account.

Thank you Agbe for dis topic and I find am very educative. Afta Brainboss topic wey im ask how we dey take sell cryptocurrency and many persons bin give their feedbacks. Naso I take run go try Remitano, afta I place my order I com receive a deposit address wia I send my coin. I waited for 2 hours nothing drop naso I sleep off. Wen I wake up di next morning alert don show for my phone. That was my first P2P trade on exchange and I no really get idea say I suppose confirm to Remitano say I don receive di money.

With wetin you dey talk na e come clear for my eyes wetin really happen, becuz wen I open di app afta a week I bin receive a warning message from Remitano. Dat was di first and only time I use dem. With your advice I believe say I no go make dat kind mistake again and I don know beta how to use CEX P2P.

E don happen to me multiply times, if I dey use p2p for binance, I dey always make sure say money dey my account first before I go release coin, even if I see say I receive alert I no still dey trust am until I check my account balance and I see say money don enter, because I don hear am before say some of those merchant wey dey binance dey send fake alert. If I don see person dey pressurize me say make I release coin and I never receive money, e dey very suspicious, person wey really dey honest no go dey pressurize you make you release coin even as u tell am say u never receive money.

I don sell coin before, d merchant talk say him don send money and I tell am say I never receive, him tell me say make I no worry anytime wey I receive money make I release d coin, him talk say maybe na bank network, e take like 1 hour before I receive d money and d guy no disturb me say make I release coin give am.

Scammers plenty for that binance p2p na y we need dey very careful if we wan trade for there be that, no allow anybody pressurize you unnecessarily say make u release coin if u never see money for your account.

It is simple. If I do not receive an alert showing me the account has been credited by the buyer with his or her name reflecting the same as that on the p2p platform OMO forget o. I not release anything not until you have proved beyond reasonable doubt that such payment is in line with Binance payment or transaction policy and it is coming from you because any small pkam your assets don go be that o. So everybody needs be alert and careful because these men dem no get joy o.

But from what others has said, even though you no release when the person report the matter and when Binance finally confirm sae di buyer don pay the money to your account, dem go release the money unbehalf of di seller. And that can give give you a negative feedback in the platform. So to avoid all those things you have to do it when the funds has been received with the exact amount you place the order. Scammers full Binance, people don complain tire for dis kind things from Binance, so what do op and Charles-Tim dey sae na correct thing, make we dey very careful with those jungle scammers. Though good ones are there but di bad ones nai dey spoiled their names.

The p2p exchange is not always safe but it is the backbone for bitcoin, and the fear is always the unknown end of the transactions. Upon all that, p2p is still the best option of them all.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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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.  

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.

This advice doesn't only apply to crypto trading. Even in life, NEVER ALLOW ANYONE TO PUT PRESSURE ON YOU. This is because if you allow that you may end up doing rubbish or making a very costly mistake that you are bound to regret. What would have happen if Agbe had clicked on release payment only to find out that he had not yet gotten the payment. Would making a complaint to the service agent make the issue to be resolved or there will be nothing that they can do about it? I experienced a similar thing one time using remitano. I don't know how they did it but the issue was swiftly resolved and my money returned to my wallet.

This same thing have happened to me I didn’t release oh the guy even reported me that he sent money and I didn’t release coin I waiting for more than 3hrs I didn’t see alert the guy have to text me to check my account and when I didn’t I saw the money if I accept that he have paid and I release coin that’s all for me,we have to be very careful no matter what don’t release if your bank app didn’t show you alert and those of you using opay don’t release coin when you receive message alert use your bank app.

This won na another warning wey Binance dey give im
 Customers so make we followed weti dem dey tok. seeweti im tok
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This warning is not for people that are trading naira on Binance. CNY is Chinese Yuan. The warning only appears if you select CNY.

Is there any Nigerian trading Chinese Yuan? I think Nigerians on Binance will prefer to only trade naira.

This warning do pop up on BinanceP2P since long time ago, even before naira redesign. I have noticed this on Binance since last year or so.

Firstly, I noticed the use of conjunction word "and" repeatedly  you might want to take note of that.

Back to the discussion,  well if what you are saying seems true, then I don't think the woman sent the funds in the first place,for her to send the second payment  no thinking what happened to the first payment  can happen the second time .

To the part of the button to release  funds , this is should only be pressed after you've received the payment  besides, you confirmed it already.  It's like a rule on binance don't release anything without receiving payment and I think almost everyone knows that . I think the scammers look for people with no experience to defraud besides if you don't know anything about p2p and you go into it you might eventually incure loss on yourself

It is always easier  for sellers to be scammed than buyers and please for your safety sake, don't ever click on any random links because they might be phising links and possible scam and I already learnt this the hard way after been scammed on paxful and that's why I always preach against people clicking on any random links as those links could easily authorize your transaction without you knowing and that's always painful.
I don't think I will ever get scammed on exchanges ever again because I already have tye consciousness that I wouldn't release my coin until I receive  my money and I'm not clicking  on any random links.

I don't know if it my browser personal cookies setting that blocks all those phishing links and the other random stuffs that are soft spots for scammer to exploit against their victims,  I haven't really seen any of those links while trading on P2p and as a matter of fact my phone screen setting is configured in such a way that I have to tap any link on an open app 3 times before it click,  this is a personal setting to avoid careless clicking that could grant access to anything without my notice.

Scammers are pain in the ass,  and those guys have no mercy and all that we need to do is to try as much as we can to protect ourselves against them by being concisely aware of all our actions.

It's common sense that you not supposed to release coins when doing p2p transaction whether on binance or any exchange at all if you have not received a credit alert, no matter what the guy on the other end says.

One other thing too that causes these type of delay in receiving alert is the type of financial institution your using and what medium you receive credit alert message with. Avoid receiving credit alert through received text message on phone as scammers can easily run you a fake credit alert text messag.

Try dey use bank mobile app as it's safer, easier, and faster in receiving only legit alert and can't be manipulated.

As for me I prefer Opay, Kuda, palmpay mobile apps as nah Dem fast pass then I fit later run transfer to your main bank account later

This is the best means of escaping tricks employed by those P2P scammers, personally before any transaction I would always check my Bank App and login-in first, I don't rely on bank alert, once Binance signals that the buyer had sent the money to my back account I quickly dashed to my bank App and continue to login-in and login-out until I see that money else I no dey release any coin and the name of the buyer must march his name on Binance P2P App if not another red flag, as a Nigerian you must wise up because there are plenty scammers out there ready to scam people especially on telegram were they usually clone or fake Binance official telegram group to scam unsuspecting newbies.

This thing have happened to me countless times but to be honest I have never reason or think I can be scammed if not now that I read this that’s when I reflect to what has happened on a serious note we all have to be careful some of all this guys we trade with go to an extent of calling you and saying they have send the money and when you feel you have wasted enough time, to release the coin that’s all I don’t think binance will help retrieve it back so guys let all be very careful I just learnt from this thanks.

With what has happened to me, I will never release any coin in my life untill I receive the money in my account even if it takes me 24 hours to do so. I learnt the hard way and it still something I will never forget till tomorrow. My brother was in the hospital bed in Morning star hospital in portharcourt and the hospital management were demanding for money and I had no physical cash on me so I decided to trade my $80 back then when naira was 600/$ and. I wanted this money so fast and I had to sell to this vendor with a good number of trades about 4678 I remember that very well and has 99% rating. I felt I was in a good hand. Within 2 minutes when I placed the order he marked the order paid. And I tried checking my bank app GT Bank to confirm if the money has reflected, but the bank app refused to open. I tried severally no way. I tried using the ussd code to check my balance no way. I went to the nearest ATM point to check my balance with my ATM card and still no way. It was then I realized that my bank was having network problem. And this vendor wasn't disturbing me to realize the asset while I was struggling to check my balance. I waited for more than 50 minutes and nothing happened. It then the vendor called me and said what's going on why haven't I released his asset and I tried explaining myself and he said it's probably my bank having network issues. I agreed with him because it was evident enough that my banking channels didn't help the matter. Lo and behold I released the asset, hoping that when my bank network returns my money will be in my account. 4 hours later the bank app opened and the money wasn't there. I waited till the next morning and the money wasn't there. So I contacted the vendor and he said the money reversed back to his account, and his bank freeze his account because they said it was used for crypto transactions. This was when I realized that I have been scammed of my 48,000 naira. I explained to this guy that my brother is in the hospital and the money is for his treatment, that he should send me back my usdt and he refused. This made me to vow that even if it takes more than 24 hours for me to confirm my money I will wait. If the vendor is not satisfied let him/her go to appeal and I will hold my ground that I haven't received any money. Provided the money is not confirm I will never release any asset in this my life. That's why I have left those commercial banks and switched to Fintech banks like Opay and Monie point that has faster and reliable services for my p2p transactions. Don't release any asset untill you are sure your money is with you. I couldn't appeal the matter because I neglected the p2p rules in the first place by trusting a fellow country man.   

This is very important information. I don't know why some people only wants where they will scam. In any Exchange P2P I use, I don't make mistakes, especially if I'm selling. Once the buyer clicks that they have paid, I will have to check my bank app to confirm and be sure I didn't receive fake alert from sms.

No matter how serious the matter is, never  release your coins to the buyer until  you've gotten a confirmation from the bank and I'll tell you why.
A good graphics designer can edit the receipt template of your bank very well to look real and you'll release the coins to a scammer. Its advised to use bank app to check even if your received an alert whether the said amount actually reflected in your account balance. This is still not enough. You'll still check your transactions history to be sure your bank recognized a credit activity on that account before you even think of releasing the coins.
I'll also mention that you beware of messages you get from the exchange during your transactions cos scammers manipulates notifications and messages to look like its from the exchange. The golden rule is "NEVER RELEASE UNTIL YOU'VE SEEN AND CONFIRMED YOUR FUNDS".
Remember, once the coins are gone from your hold, you can't do anything about it anymore

I think Binance was too fast on that. Despite dey received the confirmation from the woman, I still think they should have waited a little to hear from you. This is one of the disadvantages of CEX they have total control of your assets. What if it was a fake alert they gave you and the woman sent a transaction receipt of a fake alert and they realeas your coin. Will dey be able to bring back the coin? So I think they were too fast on that at least dey would have given you sometime.

This one better update bro, people supposed learn from this your post, this kind thing never happened to me but this thing they really happen and he go better make some people wey never experienced am know am now in case of another time, no matter how E be if person never send your money no try to release your coin because if you release am nothing concern Binance with, Binance have made it clear for every user that release his coin without not receiving fund from the buyer is on his own.

And for your own story, my brother he good as you no release the coin because as the buyer say him Don send money and you no see am for your account and you release the coin you Don enter one chance because na you go solve the problem by yourself, those buyers don't know anything about refund as far as they have received the coin they will ignore you and maybe that first one wey him talk say him Don send him no send am, some people wey dey claim like buyers sometimes na scammers.

Over careful dey worry me when it comes to P2P on binance because like this I no go fit shout... For hard earned money I get go come otilo or for vanishing, I no dey even wan let anything distract me when I dey do transactions on binance P2P.

As you open trade for Binance P2P the first warning wey you go see na make you no release you asset if you never see money in your bank account. Even though the buyer done notified you say in done made the payment for the P2P trade, no release your asset if you never see money in your bank, and no request for a screenshot of the payment because scammers will send you fake bank transfer receipt wey go bear your name and the exact amount wey dey for the Binance P2P trade. If you find yourself in such a case again ask the buyer to send you the section ID of the transfer, and if the transfer is fake he can't send the section ID of the transfer. And will know that you know what you are doing, and that he can not scam you. He will have no other choice than to cancel the trade.

Binance can do this when the buyer has notified you that he/she has sent you money but you have not received the money in your bank account, and the buyer thinks you don't want to release the asset when he/she has made the payment. When the buyer opens an appeal with proof of payment and a statement of his account showing that the buyer made the payment if Binance sends you a message to come and defend yourself in an appeal and you don't go to tell them why you have not released your asset to the buyer, they will give you two hours to release the asset but if you failed to do so within the time they gave you, that is when Binance will release your asset to the buyer.

Wow this is a very good thread here, and a very good advice to everyone here, especially the newbies the most painful thing is that any mistake you made on crypto currency, I don't think it is reverseable, and that's why this warning is very very important to everyone of us, since the order is giving that on none account will you realize your assets,if you have not received the money on your Bank account,..



So if by after all this warning and one has to falls into this kind of mistake it simply means he or she doesn't read instructions, because I see no reason why someone May be victim of this,so I am very very careful about this, because I don't want to experience this kind of mistake in my life and I so much appreciate the binance and other p2p who always dish out this kind of instructions and to make sure no one will blame them if such mistake occur and it shows up a good and geniue business partner who does want to get their name label of anything evil...


Please always follow up every instructions whenever you come across it,to avoid mistake because most of the people who May falls into this maybe lack of they did not read the instructions before doing whatsoever they did...

Yes, it very good to adhere to community terms and conditions of fair trade, but in this issue about Binance p2p trade, if you may have mistakenly released your coin to someone without confirming if the person have sent your money,  it doesn't mean there is no solution to recovering your money back, but that is only if you can make a solid proof by submitting your bank statement to Binance customer care, you have a 50% chance of having your money back, but just that most times it could take weeks or months for it to be resolved. Which means that at all times, it will be very good if you can apply caution never received the money.

Na so e suppose dey, if you never receive the money for your account, do not release; if you see the alert for SMS but your bank app no dey open due to network issues, do not release. Nothing is going to happen, if the vendor dey pressure you, explain everything to them, and if the vendor feel say him wan appeal, then no wahala, present your bank statement as evidence say you never receive the money.
Opay na better payment method, and i go advise everybody to use am for p2p trades, dem no dey too get network problems and more often than not, your money go reflect ASAP. Another trick wey vendors dey do na to put person under pressure, no fall for am, no matter how the pressure strong reach, no release funds unless you don see your money.