[HELP] P2P Buyer sent less than agreed - Was I "bullied" into a trade?

[Davidvictorson]

To clarify, the platform is Binance P2P.

Wow
I never thought it would be Binance.
Well, I couldn’t have thought about it because they have stopped operating in my country for more than a year now.
I hope you read my initial response to your thread. Incase of next time you can do what I did.

[Floxynice]

.
I made a post about this then in my Nigerian local board How Can I Stay Safe from Fraudulent Buyers on Bybit P2P? and i was given a few recommendations which I will share with you now:

• Never act under pressure; confirm receipt before releasing the coin.
• To be on the safe side, check the buyer's rating and the number of completed trades. High trades and ratings could mean that the buyer is reputable and without scam tendencies.
• Avoid buyers whose exchange rates are abnormally higher than the normal exchange rate. Scammers fix very high rates to lure their victims.
• Finally, don't forget to report these bad buyers and sellers.

These recommendations are definitely things I wish I knew earlier, but now I've learnt my lesson. I'll choose reputable buyers wisely now with better ratings. I appreciate 💯🙌

Some lessons are better learned through experience. Sorry it cost you money, but now I am very certain that you can never fall under this kind of pressure again to the extent of letting another user cheat you. Most of those guys are really not honest even with their very high ratings and high number of completed orders. Now you know all of these things, you will definitely be ahead of them scammers next time.

[suzanne5223]

Was I actually at risk of being sanctioned if I opened a dispute?

Based on your explanation, i believe the platform you used for the P2P trading is the CEX platform, and their service is not an actual P2P.
Nevertheless, you're not at risk of being sanctioned if you open a dispute about the trading of incomplete crypto sent by the seller because the CEX team will look into the proof you provided and the amount of crypto sent by the seller. However, solving the issue may take about 24hours on some CEX.

Is this a common tactic to bully new sellers into a lower rate?

It could be, but there are a lot of shady tactics used on the P2P aspect of most CEX.

]If this happens again, what is the best way to handle the moderator dispute without looking like the "bad guy"?

For every P2P trading on CEX, there's always an option you can click to report an issue. What you have to do is click the report that aligns with what you experience and provide all the information requested, which is what the exchange team will need to penalize the abuser.

[BIT-BENDER]

I’m a bit of a newbie to P2P and I think I just made a mistake. Looking for some advice so I don't get burned again.
I was in a trade today and we were bargaining the price in the chat. We finally agreed on a rate, but the buyer sent a lower amount than we discussed and immediately clicked "Payment Completed."
I felt pressured because I didn’t want to get my account sanctioned or flagged for "holding" funds, so I just released the coins. Now I feel like I got played.
My questions for the veterans here:

• Was I actually at risk of being sanctioned if I opened a dispute?
• Is this a common tactic to bully new sellers into a lower rate?
• If this happens again, what is the best way to handle the moderator dispute without looking like the "bad guy"?

I'd appreciate any tips on how to handle these "price switch" situations. I’m trying to keep my account rating high but I don't want to keep losing money.
- Newbie trying to learn

You don't have to feel pressured you account don't get sanctioned or flagged as easy as that, even though the buyer claimed payment complete you still have to check your account first to see if the fund was sent, what if you checked and you don't see any funds at all will you still release your coin because you are scared of sanctions that ideology or fear doesn't even make sense at all even to a newbie.
Regardless moving forward you have nothing to fear, you have the right to demand for full payment except you and the buyer have reached a new agreement in the chat and the buyer has to fulfill that agreement.

[Cookdata]

It was a noisy and famous event as Nigerian government did made a funny accusation like Binance P2P marketplace affected their Nigerian national fiat currency purchasing power, that is untrue. Their Naira lost purchasing power because of their national issues, not because of US. dollar or Binance or Binance P2P.

Binance perhaps no longer want their company and staffs to have other detainment from Nigerian government and they proactively did what they thought is right and safe for their staffs.

The case is still in federal court Abuja, Binance want Nigeria market, the government knows the money they are getting and what they are getting more if they later settled back and they are asking for more. The case of money laundering charges and terrorism is still there and the federal government affirm the Binance exchange did it and couple with tax they are not paying, they need to pay off before they can come to agreement which one of the strict term is that Binance must have a physical office in Nigeria.

If I recalled correctly, the next hearing is 24th of this month, until the outcome before we know who is wrong and go is guilty but I doubt if Binance will come out of it with a fine. They did the same thing in the US, why think they would exclude Nigeria where there is huge influx of crypto investors and enthusiasts couple with the unsecurity which the government couldn't contain over the last decade. I hope they settle their differences, both are after their self interest.

[Dogedegen]

To clarify, the platform is Binance P2P.

Wow
I never thought it would be Binance.
Well, I couldn’t have thought about it because they have stopped operating in my country for more than a year now.
I hope you read my initial response to your thread. Incase of next time you can do what I did.

Why are you surprised? Last time I checked most of these platforms that are P2P or have a P2P aspect let you see the offers before you even log in or register. You can find this information easy. If it does not operate in your country it does not mean much, many cases of that happen and yet the platform will operate in other countries. Only in some cases has a platform fully shutdown like localbitcoin.

The case is still in federal court Abuja, Binance want Nigeria market, the government knows the money they are getting and what they are getting more if they later settled back and they are asking for more. The case of money laundering charges and terrorism is still there and the federal government affirm the Binance exchange did it and couple with tax they are not paying, they need to pay off before they can come to agreement which one of the strict term is that Binance must have a physical office in Nigeria.

Binance did not do it I would never believe such a corrupt story, just because some federal government affirms something that does not mean it is true. Binance is too rich to intentionally launder some money that you or some users may think is big in value. What may have happened is that they failed to prevent some money laundering through their platform, this is something that can and does happen regularly even to banks. But what about that? Does that make them bad guys? It does not because it happens regularly everywhere, it is not possible to prevent all kinds of money laundering and if the laws were fair the platforms would not even be responsible for doing this. Instead of the government stopping crime, they push it onto businesses to do the work for them and if they don't they try to punish them.

]If this happens again, what is the best way to handle the moderator dispute without looking like the "bad guy"?

For every P2P trading on CEX, there's always an option you can click to report an issue. What you have to do is click the report that aligns with what you experience and provide all the information requested, which is what the exchange team will need to penalize the abuser.

That is true and it should always be done, but it should also be remembered that there are cases in which the platform will not be able to help you. They can only punish the user or his account. It is best to only engage with established accounts that have a long history, otherwise the risk is too great in my opinion. What if the P2P person on the other side is sending money from a stolen bank account?

[Rgram]

To clarify, the platform is Binance P2P.

Wow
I never thought it would be Binance.

I have held a couple of exchanges in high esteem too but, it’s not the exchanges that are the problem, it’s the customers using these services. They tend to carry these behaviors everywhere these days. You find them just about on every exchange, trying same tricks they’ve attempted elsewhere and see how it’s handled. It falls back to the support to see how they can prevent future occurrences of buyers having to place ads they can’t pay and negotiate in trade, it makes trading a little more difficult.

[Pi-network314159]

Next time if you are short payed, don't release asset to the buyer immediately, instead contact him by either any of the channel like Whatsapp, direct contact that is provided in the p2p option, or you chat with him on the message box on the ongoing trading. Tell him the money is not complete as agreed, he will send it completely and you release asset. There are many of those type of buyers who try to cheat their clients but you need to be wise otherwise they will make fool out of you. And next time before initiating trade, try to check each user rating and the amount of trade don in the past few years, this will help you to get a decent buyer. Always avoid the first person that his price is higher on the top of the p2p but and sell list, because they are the ones with such behavior.

[Cookdata]

The case is still in federal court Abuja, Binance want Nigeria market, the government knows the money they are getting and what they are getting more if they later settled back and they are asking for more. The case of money laundering charges and terrorism is still there and the federal government affirm the Binance exchange did it and couple with tax they are not paying, they need to pay off before they can come to agreement which one of the strict term is that Binance must have a physical office in Nigeria.

Binance did not do it I would never believe such a corrupt story, just because some federal government affirms something that does not mean it is true. Binance is too rich to intentionally launder some money that you or some users may think is big in value. What may have happened is that they failed to prevent some money laundering through their platform, this is something that can and does happen regularly even to banks. But what about that? Does that make them bad guys? It does not because it happens regularly everywhere, it is not possible to prevent all kinds of money laundering and if the laws were fair the platforms would not even be responsible for doing this. Instead of the government stopping crime, they push it onto businesses to do the work for them and if they don't they try to punish them.

Have you become Binance spoke person or you represent them? How do you know Binance is rich enough not to do that? Do you even know the meaning of money laundering?  Does that has anything to do with been rich or wealthy in a business??? Lmao.

I want it you to know that it's on record that Binance  pleaded guilty to more crimes in US that broke laws in the US, CZ took the hit for the company to save it and settled for $4.3B. If they can pay that amount for fine, do you know how much Binance has made between those years and you are saying they can't when Nigeria remain one of the big place where crypto strive, common you are smarter than this.

This is not to affirm that the Nigerian government is right or wrong but they did things and they want to capture the Nigeria market, that's why they are trying to settle their differences. They want to come to Nigeria market and take over otherwise there wouldn't be any need to come back apologizing for what they never did.

[suzanne5223]

]If this happens again, what is the best way to handle the moderator dispute without looking like the "bad guy"?

For every P2P trading on CEX, there's always an option you can click to report an issue. What you have to do is click the report that aligns with what you experience and provide all the information requested, which is what the exchange team will need to penalize the abuser.

That is true and it should always be done, but it should also be remembered that there are cases in which the platform will not be able to help you. They can only punish the user or his account. It is best to only engage with established accounts that have a long history, otherwise the risk is too great in my opinion. What if the P2P person on the other side is sending money from a stolen bank account?

Yes, it is good to always engage in p2p trading service with reputable users, but I have never seen the situation where the exchange will not help their users with a dispute that was reported with genuine evidence.
If what you said is something you have personal experience with, i will suggest you stop such a platform because they never care about their users interest and what they care about is the fee they charge for each trade.

[DYING_S0UL]

I’m a bit of a newbie to P2P and I think I just made a mistake. Looking for some advice so I don't get burned again.

No need to fear, nothing bad will happen as long as you are in the right. As for releasing finds, don't release them until the agreed amount is paid by the merchant (the amount that is clearly shown in the ad). I have done countless p2p trades in Binance, and I have never faced any issues that you described. And there was even a time when I forgot to release it (not in binance but in kucoin), and later, when I realized (after a long time), I immediately released it and nothing happened (though it's not recommended.). Anyway, don't make any separate deals in the chat, accept the amount both parties agreed on, and only take payment to your added payment method, and if they don't pay the right amount, simply don't release. Tbh, Binance would tell you the same. Even when the P2P is ongoing, and the buyer confirms his payments, Binance will specifically ask you whether the buyer paid you the agreed X amount.

[Issa56]

I’m a bit of a newbie to P2P and I think I just made a mistake. Looking for some advice so I don't get burned again.
I was in a trade today and we were bargaining the price in the chat. We finally agreed on a rate, but the buyer sent a lower amount than we discussed and immediately clicked "Payment Completed."

When you are trading, there is already a price which every buyers want to buy, so I don’t think there is anything to bargain about again, if any merchant wants to bargain with you about the amount which he will be paying, then you should know that the merchant is a scammer.

If you are in a trader, and the merchant pays you less than the amount which you are suppose to receive, what you should do is just to appeal, make a screen record of your conversation and submit it, also make a screen record of the receipt which shows the amount that the merchant paid.

When making use of P2P you just have to be very careful and smart, don’t be scared because if they know you are a newbie or you are scared, they going to take advantage of that to bully you, so when chatting with them, always request for your full payment no matter what they say, and make sure you don’t release the coin if you don’t have your full payment in your account.

[KingsDen]

As mentioned above, you should never release the funds unless you receive the full amount, even if that means a couple of dollars difference or if the ORDER/transaction time is coming to an end.

I'm not sure which exchange you used, but any reputable one should be in your side. The exchange have full access to the chat history, and this include screenshots. It wouldn't be different to prove that he's in the wrong.

I doubt the exchange he uses. I know most of the exchanges uses fixed ads price and when a buyer or seller is comfortable with the advertised price they do business. The idea of re-negotiating in the exchange chat is weird to me. The people that are involved in this are those that lists above the market price in order to lure innocent buyers in and then begin to negotiate nonsense.

To me, I don't have such a time to involve in such negotiations.
When using CEXs, look out for ;
Completion rate, score rating and review. These parameters will guide you to a genuine trader who can pay within split second.

[Dogedegen]

Have you become Binance spoke person or you represent them?

Have you become the Nigerian government spoke person or you represent whatever lies they parade in public?   See how it is if you answer like that.

How do you know Binance is rich enough not to do that?

All data shows that they are one of the richest entities in Bitcoin and the cryptocurrency space. You are aware that some crypto companies like Tether are richer than many countries of the world?

Do you even know the meaning of money laundering?  Does that has anything to do with been rich or wealthy in a business??? Lmao.

A super rich entity will not launder money for common poor people who believe they are wealthy by having millions but are not even a drop in a lake compared to them. They will not do this willingly. The only possibilities are failure to stop some anti money laundering, which is always possible as no system is able to stop all of it or an employee colluding to make something happen. The chance that the CEO or owners made orders to willingly launder some money is pure zero.

I want it you to know that it's on record that Binance  pleaded guilty to more crimes in US that broke laws in the US, CZ took the hit for the company to save it and settled for $4.3B. If they can pay that amount for fine, do you know how much Binance has made between those years and you are saying they can't when Nigeria remain one of the big place where crypto strive, common you are smarter than this.

Companies often take plea deals in order to stop lawsuits and come out with favorable agreements. Breaking the AML and other money transmitter laws happens frequently, but the enforcement of those actions is often selective. The biggest banks in the world are breaking them all the time, but they only go after them sometimes.

This is not to affirm that the Nigerian government is right or wrong but they did things and they want to capture the Nigeria market, that's why they are trying to settle their differences. They want to come to Nigeria market and take over otherwise there wouldn't be any need to come back apologizing for what they never did.

They even imprisoned a person who is not responsible for anything to accomplish this so yeah.. you are here condoning a government that acts as local criminals. Binance committed no wrong here, and this was a bribery deal to appease the regulators over there and solve the situation. You people really need to stop cheering for corruption when it is so obvious. Here is the case. https://www.bbc.com/news/articles/c8dmp1jg448o

Yes, it is good to always engage in p2p trading service with reputable users, but I have never seen the situation where the exchange will not help their users with a dispute that was reported with genuine evidence.
If what you said is something you have personal experience with, i will suggest you stop such a platform because they never care about their users interest and what they care about is the fee they charge for each trade.

I always carefully read the reviews because the danger is very high on the receiving end. Even if a trader has very good reputation it is wise to analyze the few bad reviews. Sometimes they are just people complaining because something didn't go how they wanted it, but other times it reveals that there are some red flags with some reputable traders. You never know how many of the good reviews are fake and how many are real. In some of these platforms it is not hard to farm the reviews with your colleagues, even in cases where the platforms require KYC. Users should exercise caution when picking an exchange, but when picking P2P they should exercise extreme caution.

You were lied to about being sanctioned.

Nobody told him he would be sanctioned, he came up with that himself so it is not true that he was lied to.

[Franklyn-wood]

I had a similar experience sometime last year. In my case, the buyer didn't credit my account but indicated that I, the beneficiary, had been paid, so I was prompted to release the coin. I checked my bank account balance, and there was no such transfer. I engaged him in a conversation and asked why he claimed he had sent me the money. Mind you, he even sent a fake receipt to make me release the coin. Thank God I was smart enough not to act under pressure. I reported the buyer immediately.

I made a post about this then in my Nigerian local board How Can I Stay Safe from Fraudulent Buyers on Bybit P2P? and i was given a few recommendations which I will share with you now:

• Never act under pressure; confirm receipt before releasing the coin.
• To be on the safe side, check the buyer's rating and the number of completed trades. High trades and ratings could mean that the buyer is reputable and without scam tendencies.
• Avoid buyers whose exchange rates are abnormally higher than the normal exchange rate. Scammers fix very high rates to lure their victims.
• Finally, don't forget to report these bad buyers and sellers.

I have also been in a similar kind of situation before. But mine was that I was trying to sell, and when I was about to select my choice buyer which have a percentage of about 98 to 99%, after which I was told to confirm if I was the one trying to sell which I did.
After confirming in interest to sell, I was also sent a message to confirm if I have received the money, which I did also, so then I sent the coins after I have received the equivalent amount to my coins. The process is well secured and reliable to use when one knows what to do.

[Floxynice]

I had a similar experience sometime last year. In my case, the buyer didn't credit my account but indicated that I, the beneficiary, had been paid, so I was prompted to release the coin. I checked my bank account balance, and there was no such transfer. I engaged him in a conversation and asked why he claimed he had sent me the money. Mind you, he even sent a fake receipt to make me release the coin. Thank God I was smart enough not to act under pressure. I reported the buyer immediately.

I made a post about this then in my Nigerian local board How Can I Stay Safe from Fraudulent Buyers on Bybit P2P? and i was given a few recommendations which I will share with you now:

• Never act under pressure; confirm receipt before releasing the coin.
• To be on the safe side, check the buyer's rating and the number of completed trades. High trades and ratings could mean that the buyer is reputable and without scam tendencies.
• Avoid buyers whose exchange rates are abnormally higher than the normal exchange rate. Scammers fix very high rates to lure their victims.
• Finally, don't forget to report these bad buyers and sellers.

I have also been in a similar kind of situation before. But mine was that I was trying to sell, and when I was about to select my choice buyer which have a percentage of about 98 to 99%, after which I was told to confirm if I was the one trying to sell which I did.
After confirming in interest to sell, I was also sent a message to confirm if I have received the money, which I did also, so then I sent the coins after I have received the equivalent amount to my coins. The process is well secured and reliable to use when one knows what to do.

Glad to know that the transaction between you two went smoothly. I haven't been a victim of P2P scams, even though there have been several attempts to scam me, even when I follow due process and also filter out spammers and irrelevant ads. Just as you said, if you know what you are doing, you will easily tell when something smells fishy. As a first-timer using Bybit P2P, I made my findings first and heard lots of stories about how one can get scammed. I made sure I didn’t let myself get scammed because I already came prepared. Newbies can learn from all the experiences and recommendations on this thread. Trust me, they won’t get scammed if they know what they are doing.

[Rustam Meraj]

Don't worry too much about yourself. Every experienced P2P seller has story about paying tuition fees when they began their trading. You were victim of very common, psychological game played by buyers to frighten people to point where they will pay more money.
To answer your questions, no you were not at risk of sanctions. As long as you have chat history showing what you agreed price for and evidence of payment of lesser amount, you would have won that dispute 100% of time. Mods use evidence, not timestamping. You just unfortunately completed trap when you released coins but next time around, here is the deal:

Don't release on threat: If you disagree on price, do NOT release. Funds will remain in escrow and timespan will elapse.
Start dispute right away: Don't wait for buyer to threaten. ONLY submit the dispute yourself and include the following: Buyer has sent [Amount A] not [Amount B]. Here's evidence from The chat.
Don't listen to the Bad Guy feeling: You're not Bad Guy. You are not the bad guy for asking for different price. Buyer is market rule breaker.

Keep your head up. Your reputation is prestigious, but not worth being scammed. If you hold line next time, scammers will stop coming after you if you know how to work the system.

[Rubuchi]

Yes, it is good to always engage in p2p trading service with reputable users, but I have never seen the situation where the exchange will not help their users with a dispute that was reported with genuine evidence.
If what you said is something you have personal experience with, i will suggest you stop such a platform because they never care about their users interest and what they care about is the fee they charge for each trade.

it is sad to hear how people like to cheat others and swindle them off their sweats in the name of hustling. Living off people’s hard earned money by taking advantage of either their ignorance or their desperation to get the money. I am not an online police and would assume such a position but I will always keep a close eye and watch out for such cases in my own time so we can continue to sensitize each other on the ways and tricks these people use to manipulate innocent people from their own money.

[Pablo-wood]

In a case like this don't release the coin quickly create a dispute. That way the Customer Service will have to look into the trade. As far as p2p is concerned no one will sanction you for creating a dispute as far as you were under paid. To avoid similar occurrence it's best not to negotiate payment at all because there is an automatic price set for each trade.

P2P transaction shouldn't be done under duress. Many has lost funds due to their anxiety, uncertainty and negligence. This is something that needs clear and intentional cross-checking if there is anything that seem as foul play then a quick dispute should be created.

[cocadalcan]

If you do not receive sufficient funds as per the deal with the buyer, refrain from releasing the crypto. He cannot report your exchange account against it without sufficient evidence. Be fair and defend your position.

If the buyer does not pay as per the deal, contact him again and hopefully he will pay you in full. Save the screenshot of the chat from the buyer and make sure you are in the right place.