Binance: P2P transactions outside exchanges carry huge risks

Binance said in an official blog post that while P2P trading outside of cryptocurrency exchanges can bring some benefits, it also comes with huge risks. It is critical that users understand these risks and take proactive measures to protect themselves by using reputable platforms, staying informed and acting with caution. Binance recommends avoiding OTC P2P scams by: -Use reputable platforms: Trade through reputable exchanges that provide escrow services and anti-fraud protection. -Be skeptical of offers that are too good to be true: If a P2P transaction sounds too good to be true, it probably is. Please proceed with caution and do due diligence. -Self-education: Understand common scams and how they work. Knowledge is the best way to prevent fraud.