Rate at which p2p merchant are frauding people are high - always be vigillant

[lovesmayfamilis]

I guess you are using Binance exchange Peer to Peer? That place is full of scammers now, the only tip that I can drop you is the reviews, don't do deals with anyone that has bad reviews, some intentionally do bad to some numbers of people and do very good to a larger number of people to have a nice looking profile stats.

The thing is the Binance exchange have smart customer services, if not, many of these scammers would have stolen a lot of funds from people, just like how paxful used to behave, Binance team will always ask you both to provide evidence and if one failed the person will be banned.

Next time, do trade with people that has zero negative reviews, I have came across those scammers few times and I followed this strategy and since then I don't have any problem anymore.

That's exactly what I was thinking about. The reputation of the seller and the response time to the application can be good indicators. Often, newcomers do not pay attention to this and rush to sell at a price that seems more profitable to them, not realizing that they are becoming bait for scammers.

[teamsherry]

This is really helpful 👏, I know about p2p transactions tho haven't done much myself, but I know that I should always receive my money before sending out my asset to anyone and most users might have evil intentions too. This issue of scam us a big case with crypto, it offers to much anonymousity to users, and they can get away with fraudulent activities.

[SOKO-DEKE]

Yes, yesterday I almost fell for a P2P scam. Mine was the regular way these merchants always try to set people up. I had placed an order, and he approved that he had sent the amount to my account, but he did not. I told him he insisted I release it because he had sent it and I would see it in less than 5 minutes. I knew he wanted to scam me, so I left him and slept off. He then knew I wasn't going to fall for his trap and sent the money after so many hours.

Sometimes the problem isn't with people trying to con you; it's more likely a problem with the bank network. Even if some of them do occasionally give money, it won't reach you in a timely manner. This type of strategy can only be used to set those who are not following the exchanges recommendations before utilizing the exchange, nevertheless, as the instructions are now included in those exchanges that do not release the coins if you have not received the money.i am not expecting anyone to do fall the scam of release coins before receiving your money worth coins.i did not see them scam worth people falling for.

But waking up this morning, a friend of mine had similar issues, but this time the scammer came with a little twist. My friend told me he had placed an order for $70 since he needed some funds. As he wanted to click the sell button, the price changed, and he refreshed it again. So he bothered not to check again and procedd with the order as he got the alert in his phone he saw that the merchacnt changed the order from  $1 = 1,460 Naira to $1 = 1,270 Naira.

This kind of scam is unheard of in my experience because I usually rely on Binance alerts to notify me as soon as there are changes in merchant prices. However, choosing merchants with a good reputation—which is indicated by a significant history of positive trading numbers and a high percentage of successful transactions—is a simple preventive measure to thwart such small scams in peer-to-peer transactions. Following this procedure can reduce the likelihood of becoming a victim of fraudulent schemes and provide a more reliable and safe experience when participating in peer-to-peer trading.

[Cryptoprincess101]

But waking up this morning, a friend of mine had similar issues, but this time the scammer came with a little twist. My friend told me he had placed an order for $70 since he needed some funds. As he wanted to click the sell button, the price changed, and he refreshed it again. So he bothered not to check again and procedd with the order as he got the alert in his phone he saw that the merchacnt changed the order from  $1 = 1,460 Naira to $1 = 1,270 Naira.

That was a very fast scam and that's why it is advisable to check the exchange rate whenever it changes when you want to sell your coin to a particular buyer so that you can be sure of the amount you are exchanging at in case you are not comfortable with it then you can move to the next buyer and moreover don't sell coins to buyers that doesn't have at least 98% to 100% of positive feedbacks from people he bought coin from previously as it will help you to know the trust rate of the person you are dealing with. And again you can check the quantity of coins the buyer has bought from previous sellers if they can be capable to buy your own coin as well so it's from their previous transactions that you would know if you can earn some level of trust from them.

You also need to confirm that the full amount transacted between you and the buyer has been paid into your account and always use banking platforms that can confirm transactions as quick as possible rather than using banking systems that would spend so many hours before you get notification of a transaction you performed.

[Gormicsta]

Yes, yesterday I almost fell for a P2P scam. Mine was the regular way these merchants always try to set people up. I had placed an order, and he approved that he had sent the amount to my account, but he did not. I told him he insisted I release it because he had sent it and I would see it in less than 5 minutes. I knew he wanted to scam me, so I left him and slept off. He then knew I wasn't going to fall for his trap and sent the money after so many hours.

If you have not received the money or the seller has not sent the complete money, do not release the coin next time. This is how some of you people will be scammed and later realized that you have done something stupid.

Remarkably, some of these merchants go as far as using fake bank alerts to defraud their victims, that's why for me, I'll first of all go to my bank app to confirm that the money is actually there, just seeing an alert on my phone isn't enough, I've almost fallen victim to such cheap scams before, had it been I wasn't enlightened and familiar with fake bank alerts. Scammers are everywhere, even the place you least expect and if you expose yourself to them, they'll take advantage of you and swindle your hard earned money. Is everyone should be careful out there and don't trust anyone you see online, whether on social media or in other places.

[Jegileman]

Yes, yesterday I almost fell for a P2P scam. Mine was the regular way these merchants always try to set people up. I had placed an order, and he approved that he had sent the amount to my account, but he did not. I told him he insisted I release it because he had sent it and I would see it in less than 5 minutes. I knew he wanted to scam me, so I left him and slept off. He then knew I wasn't going to fall for his trap and sent the money after so many hours.

I still don’t know how one can be scammed through p2p platforms because everything is well explained and many disclaimers are there to let you know not to release the coin if you haven’t received the money. You can even go to the extent of trying to send the money you’re sent out in order to confirm if it was not faked alert or just dust money. I haven’t experienced such but just saying to confirm that the money was actually received in your account before releasing the coins.

But waking up this morning, a friend of mine had similar issues, but this time the scammer came with a little twist. My friend told me he had placed an order for $70 since he needed some funds. As he wanted to click the sell button, the price changed, and he refreshed it again. So he bothered not to check again and procedd with the order as he got the alert in his phone he saw that the merchacnt changed the order from  $1 = 1,460 Naira to $1 = 1,270 Naira.

I have not experienced such before and I never knew a merchant can change the price after an order have been placed. This is in fact a criminal act that need to be punished immediately. I only check to see if the actual amount was sent and sometimes the order won’t go through unless the ads is refreshed due to price update. In this type of situation, I go back to the main page and chose a new ads entirely.