Safety in P2P trading (of cryptocurrencies, goods, services) is a cornerstone, as you interact directly with unfamiliar people rather than a centralized platform that verifies everyone.
Here is a detailed guide on safety, divided into key principles and stages of the transaction.
🔥Main principle: Trust, but verify (Verify, Don't Trust)🔥
You should rely not on verbal promises, but on evidence, reputation, and safe procedures.
1. Choosing a platform and counterparty
Verified platforms: Use well-known P2P platforms with integrated escrow (holding funds by the platform until the transaction is confirmed by both parties).
IMPORTANT: Even on these platforms, all communication and transactions must be conducted strictly through their internal chat and protocol. Communicating via Telegram/WhatsApp deprives you of platform protection, which poses a risk of losing your money.
✅Counterparty's reputation:
Verification: Does the seller/buyer have document verification on the platform?
Reviews and history: Carefully read the reviews. 100+ completed transactions and 98% positive reviews are a good sign. Beware of new accounts or accounts with a small number of transactions.
✅Time on the platform: An account created several years ago is usually more reliable.
2. Negotiation and agreement stage
Clarity of conditions: Discuss and write down in the platform chat in advance:
🟡The exact amount.
🟡Rate (if it concerns currency).
🟡Payment method (Transfer to card, cash, etc.).
🟡Who pays the transfer fee (if any).
🟡Time for fulfilling obligations (e.g., "transfer within 15 minutes after receiving cryptocurrency").
🟡No "prepayments" outside of escrow: If you are a buyer, never transfer money directly to the seller's card before the cryptocurrency is reserved in the escrow account (or you receive it). If you are a seller, never release the goods/crypto without receiving confirmation of money credited to your account.
🟡Be cautious with "special" conditions: Refusal to use escrow ("let's do it without the platform fee"), requests to mark the transaction as completed early, transfer to a "friend/sister's" card — classic red flags of fraud.
3. Financial security (especially for bank transfers)
⚔️Use a separate account/card: For P2P transactions, it's better to have a separate bank card or account that is not tied to your main savings.
⚔️Check the purpose of the payment: When paying through a bank, sometimes scammers use stolen cards. If you receive a transfer marked "debt repayment" or "for services," and you were selling cryptocurrency, this could be a warning sign. It's better to clarify.
⚔️Beware of chargeback: Some payment methods (e.g., PayPal "from friends") can be disputed. Bank transfers within the same bank are almost irreversible. Transfers between different banks are harder to cancel, but possible by court decision. Cryptocurrency transfers are irreversible — this is their advantage for the seller.
⚔️Cash: When meeting, choose crowded, safe places (bank branches, shopping centers, cafes). Check the banknotes. It's better to go with someone.
4. Protection against specific types of fraud
‼️Fake screenshots: Scammers send fake screenshots of money transfers. Always check incoming transactions in your banking app or online banking statement, and do not trust screenshots.
‼️Substitution of details: A 'fake' account with the same avatar and nickname, but with one altered letter, may write in the chat and send you different details. Carefully verify the account from which the dialogue is conducted.
‼️Phishing: You may receive a link to a fake website that looks like the platform's site to steal your login/password. Always access platforms through bookmarks or official apps.
‼️"I urgently need it, help": Pressuring for sympathy or urgency is a common tactic to make you let your guard down.
5. Receipts and documentation
❗✅Keep all correspondence within the platform.
❗✅Take screenshots of the counterparty's profile, transaction conditions, and transfer confirmations.
❗✅For large transactions, you can sign a simple sales contract (templates are available online) or at least exchange receipts with passport data (but be careful with sharing your information).
A brief reminder for buyers and sellers
For Buyer (buys goods/crypto) For Seller (sells goods/crypto)
1. Never send money first. Wait until the seller sends the currencies/goods/cryptocurrency. Release only after guaranteed receipt of money in your account/card.
2. After receiving the details, verify the full name with the seller's profile data. Carefully check the payment: actual receipt in the statement, not a screenshot.
3. When paying, specify a unique comment if required by the platform. Make sure the comment on the payment is correct (if required).
4. After the transfer — a screenshot of the receipt/confirmation in the platform chat. 4. Do not succumb to pressure and do not release the asset if you have the slightest doubts about the payment.
🔴🔵If you have been scammed🔴🔵
1. Immediately contact the platform's support, providing all screenshots of the correspondence and evidence.
2. If the amount is significant and fraud is proven — file a police report. The platform may provide account data upon request from the investigation.
3. Publicly warn others: Leave an honest negative review with details to protect the community.
Outcome: P2P trading offers freedom and favorable rates, but shifts the responsibility for security onto you. By following these rules, you minimize risks to an acceptable level. Stay vigilant!!!
