How to trade safely in peer-to-peer (C2C) transactions
This tutorial introduces the main risks, common scams, and safe operating practices of C2C transactions, emphasizing verifying actual receipt of funds, keeping communication on the platform, choosing platforms with escrow and appeal mechanisms, and promptly preserving evidence and stopping abnormal operations.
Understanding C2C transactions and the main risks
C2C transactions allow buyers and sellers to choose their own counterparties, set prices, and arrange times, offering considerable flexibility. However, this also means traders must take greater responsibility for making judgments. Common risks include forged proof of payment, chargeback and reversal fraud, social engineering, triangular fraud, and phishing.
Identify scams and verify payments
Before releasing cryptocurrency, personally check your bank account or wallet balance to confirm that the funds have actually arrived. Do not rely solely on receipts, screenshots, text messages, or the buyer's verbal statements. If the counterparty pressures you to release the funds, asks to communicate outside the platform, uses a third-party account for payment, or pays an incorrect amount, pause the transaction and preserve the evidence.
Choose a platform and strengthen protection
When evaluating C2C platforms, pay attention to escrow services, identity verification, risk monitoring, verified advertisers, customer support, and formal appeal procedures. During transactions, communicate only through the official platform whenever possible, enable two-factor authentication, and save chat and transaction records. If you detect anything unusual, promptly stop operations, block and report the party, and file an appeal.
Original Tutorial
https://www.binance.com/zh-CN/academy/articles/how-to-stay-safe-in-peer-to-peer-p2p-trading
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