Binance P2P Trading Question

Binance has the option in P2P Trading section where you can send your assets to other Binance account holders or transfer between your own. “Send” option does mention that once the asset is sent, it can’t be returned, but I still want to clarify – so this option doesn’t have escrow service enabled? I’m selling some goods to a person for btc and we wanted to do here. We both are super new to crypto and understand very little about escrow services. To my knowledge, you can’t buy btc from escrow, only store and transfer, and there are also fees involved. So I wanted to use Binance’s p2p trading, but the postings there are public and accessible to anyone. How should I go about this?

What do you think?

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One Comment

  1. The main essence in P2P is TRUST. You need to have trust in both ways. Let me give you an example. I want to transfer my BTC on binance to my best friend also on binance. If i use widthdraw method, i will be charged a fee. But i can also use P2P there’s also some fee involve but lower. I can put ads or selling ridiculously high price on BTC i wanna sell. Then my friend will find me on P2P and “buy” my ridiculously high priced BTC. And then the procedure goes. That’s of course is between me and my friend… the whole point of placing ridiculous high price is to avoid other people to place order. But that proceas will expose your activity. For me, i’m just a tiny shrimp in the ocean full of whales. So my transactions mostly are mininum in range of about USD10. So that is how i get around the system.

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