Is it safe ?

[btc_angela]

On centralized exchanges, like Binance for example, you do not have full control over your asset. Your coins or tokens can be seized as they are centralized.


It is safe.

Do not release coins unless you have seen the money sent to your account, not through text message but through checking your account balance. I do not know about other transfer methods, they would be similar to bank transfers.

Use a reputable buyer or seller.

Do not be lured by people that unnecessarily hike their rate, you may think it will favour you, but it would be done in a way it will not.

Personally if I would do P2P trading, I'd choose to use either Bisq or localcryptos.

That is true, but I see bisq to be the most decentralized.

Of course, you have to check everything first, the amount that you will received and indeed if you received in already, before releasing your crypto. There is also a timer in the upper left, so if the buyer is not ready and the timer is up, then there is no trade between the two of you.

In my experience with P2P in Binance, I would say I have a great experience so far. The buyers that I choose is so far legit with at least 99% successful transactions.

[1714974542]

1714974542

[Eternad]

On centralized exchanges, like Binance for example, you do not have full control over your asset. Your coins or tokens can be seized as they are centralized.


It is safe.

Do not release coins unless you have seen the money sent to your account, not through text message but through checking your account balance. I do not know about other transfer methods, they would be similar to bank transfers.

Use a reputable buyer or seller.

Do not be lured by people that unnecessarily hike their rate, you may think it will favour you, but it would be done in a way it will not.

Personally if I would do P2P trading, I'd choose to use either Bisq or localcryptos.

That is true, but I see bisq to be the most decentralized.

Of course, you have to check everything first, the amount that you will received and indeed if you received in already, before releasing your crypto. There is also a timer in the upper left, so if the buyer is not ready and the timer is up, then there is no trade between the two of you.

In my experience with P2P in Binance, I would say I have a great experience so far. The buyers that I choose is so far legit with at least 99% successful transactions.

It’s very rare to see 99% trust rate there because some of the p2p merchant there missed some transactions due to time availability. Personally I’m basing my preference on the combination of number of trades and trust score to choose the best seller or buyer because there’s a chance that you will still get scammed by a 99% trust score buyer if he only fakes those transactions with small transaction history. It’s much better if you choose the combination even if the trust score is just 90% or close to it.

[Nrcewker]

It is safe.

Do not release coins unless you have seen the money sent to your account.

Yup when doing P2P deals always it’s ideal to release the coins when you see the money is reflecting in your bank account.
If possible also see your bank transactions to get more confirmation that you have actually received the funds.
For an extra layer of security, it’s advised to choose the best rated seller than the seller offering the best rates.
Rest i guess everyone is wise enough to differentiate between scam deals.

[coinerer]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

p2p trading is safe but you have to careful about release your order . you must double check your Payment before release your order. many time scammer use 3rd party apps for send fake payment massage and trying to scam crypto .so be carefull to do p2p trading

[smartaction]

I think Binance p2p trading is safe for sell your crypto with fiat money i am regularly use Binance p2p. but do not try to sell your crypto on p2p in panic .you should trade your crypto on p2p very carefully scammers can attack you any time . Although Binance has the best security measures in place, nevertheless done your trade carefully

[newdevices]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

don't worry, P2P on Binance is completely safe, there's nothing wrong with trading P2P,
but you should also know that many exchanges don't have good reputations either,
so if you want to save or trade, make sure the exchange does gain more trust,
for example, Binance, Kucoin, Bitfinex, Coinbase, and FTX, yes there are still many,
and also there are still many who are indeed scammer exchanges, be careful

[TheGreatPython]

Trading P2P on binance is kind of safe but not completely safe, you have to follow the steps and you have to be careful, because the person you will be buying from or selling to might be trying to be smart, some might be trying to scam you so you have to be careful. If you are selling make sure you receive alert before releasing coin to the buyer, sometimes the buyer will mark order as paid and he will ask you to release coin, make sure you confirm that the buyer paid before releasing the coin.

I think kyc is required before you apply as a seller on their p2p markets so when someone wants to be a scammer then they can be in big trouble because binance got their identity and their addresses. It's also possible to see the sellers' ratings before we transact and usually those who are on top have a high ratings.

We can just pick them so that we are sure that we are safe. I personally don't prefer p2p but when I want to buy or exchange coins I will just use those instant exchangers. They are less hassle and their minimum also much lower compared to the most known cex. It is also safe in terms of privacy because they don't require a kyc.

[goaldigger]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

I’ve been using P2P in Binance and so far its safe though the amount will still depend on the limit of the seller or buyer. Better if you are going to transact big money divide it to lower the transactions because your bank might also be alarmed if you do a one time transactions. Remember that you are going to use your banks as a receiver with this, AMLA is watching so better to do this at a small transactions. P2P in Binance have the secure funds, if you didn’t receive the money you can just report it but of course it will take some time before you actually get the refund, so better to choose the trusted seller.

[DoublerHunter]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

^ As of now, it is safe because they are a reputable exchange.
Dont forget to always read the ToS before depositing your money on P2P Binance, it is a simple way to avoid problems in the future.
For me, decentralized p2p trading is still the best, though Binance p2p is good still feel uncomfortable while using this exchange so I had rather use Hodl-hodl and Bisq p2p exchange than the Binance.
Go for it, it is safe, but don't leave your money there for a long period of time.

[Rengga Jati]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

Actually, there is no safe 100% guarantee. However, Binance P2P is a trusted platform and many people also do KYC for P2P. This may be an easy way for some people to trade coins by fiat directly. There is also something that you must pay attention to on P2P trading on Binance, it is commonly about the account of the sellers or buyers.
However, if you are doubt about this, you can go to the Binance exchange, and make trading activities there, this is more trusted.

Btw, there is an interesting article that you can read as one of the reviews or information about this. You can add learning from this:
How to Safeguard Your Crypto on Binance P2P

[so98nn]

If you doing it on binance then it has good volume for exchange. There is no need to go for p2p unless and until you need the money to be coming from the bank account of another person and somehow show it as normal trade and not against the crypto. Most recently that’s viable option to avoid the government taxes, TDS and regulated stuff. You should really choose this option depending on your location. Like in case of India, you need to pay 30% straight up. Not only this, if you are going to go for p2p then also exchanger will have 1% TDS deduction plus they will notify on KYC you made that transaction. Ultimately you have to pay 30% in any scenario.

[Chainsmokers]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

even though in my opinion trading P2P is less efficient, it's better to trade on the spot market,
but if you really want to trade P2P you must of course be on a safe platform, for example Binance,
at Binance P2P trading is provided, so you can trade safely and comfortably on Binance.

[Solosanz]

even though in my opinion trading P2P is less efficient, it's better to trade on the spot market,
but if you really want to trade P2P you must of course be on a safe platform, for example Binance,
at Binance P2P trading is provided, so you can trade safely and comfortably on Binance.

Why you can say Binance is a safe platform for P2P? There's no any different with the other P2P platform and it would compromise your privacy due to Binance poor privacy. I have no idea why many people to use P2P platform that associated with centralized exchanges, since both of them are different.

If you want to trade on P2P exchanges, it's better to use decentralized exchanges or P2P platform that accept lightning network and high privacy oriented.

[GeorgeJohn]

I think Binance p2p trading is safe for sell your crypto with fiat money i am regularly use Binance p2p. but do not try to sell your crypto on p2p in panic .you should trade your crypto on p2p very carefully scammers can attack you any time . Although Binance has the best security measures in place, nevertheless done your trade carefully

Binance is the most popular exchange that reached to the grassroots.so from my perspective trading there is quite safe as you portray because of their security level. From the aspect of selling of cryptocurrency as you said. Some people don't have endurance of selling cryptocurrency because they feel that anytime cryptocurrency is experiencing market downtrend it show that after there you will not make profit again.

[ethereumhunter]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

So far, I do not have a problem using Binance for any feature on that exchange. But if you doubt that, maybe you need to search for more news that can convince you to use Binance. But many people are satisfied with Binance and still use it now to earn money from many things inside Binance. But Binance needs you to verify your account and if you do not want that, you can use the other exchange or DEX, which does not need verification.

[Dollar_Hunter]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

So far, I do not have a problem using Binance for any feature on that exchange. But if you doubt that, maybe you need to search for more news that can convince you to use Binance. But many people are satisfied with Binance and still use it now to earn money from many things inside Binance. But Binance needs you to verify your account and if you do not want that, you can use the other exchange or DEX, which does not need verification.

Talking about Binance, I personally don't have any complaints because it is one of the unquestionable platforms,
Besides that, the features that are owned can also be said to be complete,
I think it's good to have account verification and of course it's for security

[Mpamaegbu]

A friend who trades using Binance P2P once told me the method he had adopted to swim passed sharks there. He said he wouldn't transact with anyone who hadn't done up to 1,000 trades and that the merchant must be willing to pay from their personal account. Otherwise he would cancel. No third party account accepted, according to him. That way he said he had been extremely lucky and lowered the risk of getting scammed.

There are tricks that scammers use on Binance, Like;
1. Displaying higher ad price and paying lesser.

How will that be possible. I thought P2P on Binance is highly regulated? How can buyers/sellers manipulate transactions once price is put out? Is there no way snapshots are automatically entered to serve as evidence once a transaction is entered into by a bot or something so there won't be hangling of disagreement thereafter?

[Findingnemo]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

Doing P2P on binance or LBC is safer compared to the completely decentralized exchange when it comes to the source of funds but there is no 100% security anywhere, even if the person completed KYC still the source can be from someone else's account and it could be from not knowing their knowledge and it can continue for months and years with no problem but when banks found then your account and fiat stored in there are at complete risk of getting frozen almost forever.

[Issa56]

I think kyc is required before you apply as a seller on their p2p markets so when someone wants to be a scammer then they can be in big trouble because binance got their identity and their addresses. It's also possible to see the sellers' ratings before we transact and usually those who are on top have a high ratings.

Binance requires kyc before you can access the exchange, incase if you are scammed the user can easily be tracked if you report to binance, but some newbies still fall victim, some of them are just using binance for the first time and they don't know about Appeal. When I started using binance I don't know you can Appeal so incase I was scammed them I wont be able to Appeal because I don't know about it.
I think the best thing to do is always check their trading and also their completed transactions, always make sure you buy or sell to user with high rating and high completed trades.

[Alisha-k]

I actually wanna do p2p trading on binance . I wanna know how much it's safe . And is there any better option from P2P trading?

With a centralised exchange first your coin isn't yours because you don't have key to sign the release of your coin when you want to spend them. For p2p on Binance exchange as long as you don't release coin when you have not been paid you are completely safe and always ensure you release once you get credited to avoid getting negative tag. But get prepared for bunch of verification in the name of KYC