Q1: What is P2P trading?
Answer: Peer-to-peer trading, where you buy and sell directly with another person without going through a middleman.
Q2: Who can use Binance P2P?
Answer: Only Binance users who have completed the identity verification process.
Q3: What are the benefits of using Binance P2P?
Answer: All are correct.
Q4: Which wallet is used for Binance P2P Trading?
Answer: Funding wallet
Q5: What should I do when the buyer sends me proof of payment via P2P chat, claiming that they have paid?
Answer: Check my bank or e-wallet balance to see if the fiat has arrived, make sure the buyer’s verified name matches the sender’s name, then release crypto.
Q6: What should I do if the counterparty asks me to provide my social account or phone number?
Answer: Do not send & insist on communicating through Binance P2P chat only.
Q7: What is a SMS scam?
Answer: Any of the above.
Q8: Will Binance P2P send me messages in the chat box asking to release funds while a transaction is pending?
Answer: Binance P2P will only send Risk Alerts in the Chat Box.
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