Is it safe ?

[~|cryptogirl.bd|~]

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?

[OmegaStarScream]

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?

It's safe to use but there's no guarantee that the other party won't charge back after you release the bitcoins (if you're the one selling) So if you're going this route, and instead of trading with one person for big amounts, do smaller amounts with multiple individuals. You should also check the (recent) feedback of the person you're dealing with.

Which payment methods you're going to use though? If you're already willing to submit your documents to use Binance's P2P platform, why not just use a reputable CEX and buy directly from it? The rates might be a bit higher, but at least you're eliminating the risk.

[Jawhead999]

As long as you follow the whole steps, you're safe (in terms of you will get the coins/money) but it's not safe for your privacy. You shouldn't try to look to good to be true offer since it's mostly a scammer who using a stolen banks or such illegal stuffs, I'd say 5-10% price difference is still make sense, I wouldn't go higher than that except you're accept the risk.

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

[Charles-Tim]

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.

[Mr.right85]

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 trading on an exchange like Binance is more safe than randomly meeting someone online or in your locality and you guys just go about trying to make business work. Not even on the forum except for a few users that have been verified by there trust ratings to be good to do business.

Doing P2P exchange on binance is actually safe as, the exchange serves as a third party, an escrow between both buyer and seller and you only get to approve on coin release when you've been credited and have confirmed the amount on your account. On no account should you approve before confirmation.

[|MINER|]

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 is currently one of the best way to buy and sell cryptocurrency and fiat currency. Yes I also have question about the user privacy. Moreover, considering other aspects, I think it is safe. When you will do the p2p trade if follow the step then I don't think you don't have to face the problem.  Before take trading please view the info and feedback. And I also says that avoid those accounts who have done few trade for large amount.

[Nrcewker]

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 Trades are best when you don’t like to do KYC on popular exchanges.
If you are verified in Binance, then why don’t you directly sell there?
Moreover I have done P2P deals at Paxful and localbitcoins only, so can’t tell you exactly about the P2P trader of Binance.
Normally it’s advised that when doing P2P deals always go with the user with high trust, and don’t try reversible payment methods.
Rest everything will be fine.

[xSkylarx]

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?

It's safe as long as you do p2p on those people with yellow check marks which means they are verified. Always remember that do not release the funds as long as you do not confirm that you have verified it. There are people that send screenshots that looks like they already send you the money but are really fake. I've done it many times using different mode of payment but didn't experienced any issues so far.

[AicecreaME]

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?

Other than checking the person account reviews in P2P if it has a good feedback, yes it is safe. P2P is the fastest way to withdraw your money, and you can ask the price you want if you're selling your coins. But if you're withdrawing your Bitcoin for example, then converting to an altcoin then send it to your local exchanger of cryptocurrency to fiat is much better for lower fee.

[palle11]

Binance is safe for P2P despite being a centralised exchange but I don't think people complain about them regarding their coins. You may need a KYC for your transaction. You have to be sure you have your credit to your self before you release your coin and you can do all your conversion in binance.

[onecall123]

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?

A peer-to-peer trade is also called P2P trading. It is a type of cryptocurrency trading that involves direct payments between users. A safe and fair trading environment is ensured by Binance P2P's escrow service. I have been using Binance p2p trading for over a year and have been quite happy with it. If you follow their instructions, then it doesn't matter whether you are a buyer or a seller.

[blockman]

It's safe but still, you need to be vigilant because I've seen a series of those P2P trades that they were caught off guard.
Aside from Binance, if you want to trade P2P and it's not that urgent at all, you can have it with someone from the forum but it's going to require you an escrow.
That is if that's not the usual P2P trade that you're going to do.

[Rigon]

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?

Yes you can rest assured it is definitely much safer. Here you will be asked to provide information that you will be required to provide. Otherwise you will never be able to trade on p2p You need to verify the KYC system to trade. Mobile SMS verification and ID card verification are required After various verifications you are given permission to trade on P2P.And from here you can never do corruption, if you do corruption you will be banned from P2P platform.So surely we can safely say it is a very safe platform.

[Rufsilf]

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?

It's all just fine provided that you never send it first.
P2P trading is actually risky and prone to scammers and you need to be careful with the person that you have been trading. But as we can see, many people are using this platform meaning, it was a trusted exchange and all the transactions are safe unless you are about to visit the wrong site or clone site.

As I've tried several time doing this and using the same platform, I could say it was safe.

[Wexnident]

It should be safe, I and my sister have had experiences with it and we never had any issues with the experience. There's a bunch of stuff you need afaik, KYC being the first, before being able to transact so I think that gives enough for Binance to stand as the middle man. You should also be able to report suspicious transactions directly to Binance in case you get hit, they are a centralized exchange and can freeze an account if they deem it necessary. Just keep a record of every transaction and conversations you've made to be safe in case they want more info.

[Issa56]

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.

[Dabitgla]

It is safe.

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

[Hypnosis00]

Not 100% safe but at least, using Binance exchange is somewhat safer than others.
However, it is a need for you OP to be careful, we know how these scammers acted. It is also better to consider the offer and don't get fooled by those traders who offer you high, we have to anticipate the possible things to happen as this is usually a trick by scammers.

But if you are not really comfortable doing P2P, think about spot trading as your next option.

[passwordnow]

It is safe.

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

Exactly. If you're the seller, that's all you need to remember when you do P2P trades in Binance. But I'm not into it so instead, I'm into the spot trading just to be safe on my own conviction that I don't have to wait for some confirmation like this. Nevertheless, P2P in Binance is safe, and the platform itself is safe also, when you trade, always check the history of the person you're going to trade with. Just for the sake of safety that you're looking for in p2p platforms.

[KingsDen]

Many are telling you that it is safe. They said so because they understand that you don't much about your privacy. So if you have opened account with Binance already, their p2p is very safe generally. But you need to be careful on your own to be totally safe. There are tricks that scammers use on Binance, Like;
1. Displaying higher ad price and paying lesser.
2. Persuading you to release coin when they have not made payments.
3. Sending fake alert to make you release coin.
Don't fall for any and avoid doing trade with unverified traders or people who have don less than 100 trades.