When you buy cryptocurrencies in binance app you need to pay first to the trader and then he will transfer the crypto to your Binance wallet.
But what if the trader does not sends crypto to your Binance account. [What do you do?]
Read the post to never have a such situation in your trading life. Here are the 4 things you need to consider before paying the trader when buying cryptocurrencies in Binance app to deposit/add money to Binance.
How to choose BEST trader in Binance
Select Trusted/Reliable Trader
When you use the P2P option on Binance make sure to select a Trader who already has done a number of trades with a good score.
Because new traders release crypto late and can waste your time. So, always choose a trader who has done at least 400+ trades with a 95+ success score.
Chat with Trader FIRST
I recommend you chat with the trader first before making the payment and confirm that the trader is online and active.
So, you get the crypto or USDT in your Binance account just after you have done the payment.
Because sometimes the next person is busy and you receive the amount late in your Binance wallet.
That’s why Chat FIRST Then PAY
Do Payments on Binance ONLY
If the trader says you do pay directly to their UPI or PhonePe then do not do that.
because if you do that binance can’t help you if you to receive the crypto in your Binance account.
Take and keep your payment screenshots untill the exact amount not deposit into your binance trading account.
Because if the trader not send crypto into your account then you need to contact Binance support team or escrow and they need some proof that you send the payment to the trader but he does not release crypto to your account.
Escrow is a system that works like a reiable person between you and the trader and ensure that transations done easyily and without frauds.