How To Stay Safe and Navigate Crypto Transactions & P2P Platforms Securely with Bingtellar in?2024

In a digital world where convenience often intertwines with risk, navigating cryptocurrency transactions demands vigilance and strategic measures. Whether you’re a seasoned trader or a novice enthusiast, safeguarding your assets and personal information is paramount.

We’re seeing an increase in customers falling victim to scams, accounts getting frozen, transactions taking days to complete and other issues with P2P crypto platforms like Binance, Bybit, Huobi, Kucoin, OKX, Paxful etc. So, we want to share some best practices to keep you safe while you dive into the crypto-verse.

What is a P2P crypto platform?

A P2P (peer-to-peer) crypto platform allows customers to buy and sell crypto directly from specific vendors or buyers without using an intermediary party.?

When a sale is agreed, the platform holds the cryptocurrency while the buyer makes payment (done via various methods, like bank transfers, Momo transfers, card payments, etc). Once the seller confirms they’ve received the payment, the cryptocurrency is released. In case of disputes, the platform offers resolution services, which could sometimes take hours?—?days.

So, what are the?risks?

Although P2P crypto platforms are popular and sometimes have futures trading, order books etc, there are risks. Here’s the two most important ones to be aware of:

1. You could lose your money: buyers could dispute a legitimate sale (which would be a fraudulent claim), and could result in a seller losing out financially.?

2. You could receive stolen or criminal funds: as a seller, you could unknowingly accept funds from individuals who have fallen victim to fraud, or receive the proceeds of criminal activity without your knowledge. When this activity is suspected, we’d investigate carefully and may be required by local regulations to confiscate those funds. These investigations are complex and can take a long time.

Here’s are users complaining about the recent developments and experience using P2P exchanges

Here’s an overview of how these scams typically operate:

Our tips for staying safe with?crypto

To protect yourself from potential scams, remember these guidelines:

1. Process your crypto transactions directly through Bingtellar:? We scan the blockchain for risks and block fraudulent wallets to protect you. Additionally, we have optimized the process of transferring funds to your bank accounts and mobile wallets, ensuring that it adheres to regulations and standards. This guarantees that your cryptocurrency transactions are conducted with the highest level of safety and security, allowing you to seamlessly convert them into fiat currency whenever needed. It’s important to keep in mind that certain minimum requirements and verification procedures may be necessary(read more in our T&Cs).?
2. Never ignore in-app warnings:? We employ thorough detection and prevention technology that’s expertly designed to protect customers. If we send you an in-app warning message, it’s because we suspect a risk with your activity?—?never ignore these messages. Make sure you read any warnings and notification from us carefully and only proceed if you’re certain about a payment.?
3. If it sounds too good to be true, then it probably is:? Beware of deals and exchange rates that seem too good to pass up, as they often act as bait for fraudulent activities. Be cautious and conduct thorough research before engaging in any crypto transaction. For example, a buyer might offer to purchase a stablecoin from you for much more fiat currency than its actual value.? Bingtellar is dedicated to providing you with unparalleled service and value at every turn. We go above and beyond to ensure that your experience with us exceeds your expectations, delivering top-notch service and unbeatable value, consistently and without compromise.?
4. Verify who you deal with:? It’s important to check that the funds you receive are coming from legitimate source and from the person you’re dealing with on the P2P platform. If a merchant offers to send you money from an account other than their own (e.g., via ‘a friend’), or uses an anonymous source (e.g., a card payment to you), we recommend you refuse the transaction and report it to the crypto platform.

Leveraging Bingtellar’s security features and swift payments capabilities

Bingtellar stands as a beacon of trust and reliability in the crypto ecosystem, offering a suite of advanced security features designed to safeguard your assets, with continent-wide payments options.

With Bingtellar’s robust transaction monitoring tools, you stay informed about account activity in real-time. Set up customized alerts for suspicious transactions or unauthorized access attempts, empowering you to take swift action to mitigate potential risks.?

At Bingtellar, your safety is our priority. Our dedication lies in swiftly detecting and thwarting any deceitful endeavors, all while striving to provide you with unparalleled service?—??? Safeguarding your well-being stands as our utmost concern.

NB: If we detect suspicious activity, we may be required to do extra checks. If we need to get further details about transactions to verify their authenticity, then please be patient with us so that we can try to keep you and your funds safe.

About Bingtellar:?

Bingtellar is a web3 payments platform that bridges the gap between cryptocurrency exchanges like Binance, Bybit, Huobi, Kucoin, OKX, Paxful etc and local payment methods in Africa.?

Presently operational in Nigeria, Kenya, Ghana, Rwanda, Uganda, and expanding further, Bingtellar facilitates a secure and streamlined process for converting cryptocurrency assets into cash. Users can opt for withdrawal options including Mpesa, MTN MoMo, Vodafone cash, Orange money and bank account transfers, ensuring convenience and flexibility in managing and liquidating their crypto holdings to fiat.

Benefits of Using Bingtellar:

?? Speed: Bingtellar facilitates instant withdrawals, allowing you to access your funds without delay.

?? Convenience: With options for both crypto, Mpesa and bank account withdrawals, Bingtellar caters to your preferred payment method.

?? Security: Bingtellar prioritizes the security of your transactions, ensuring a safe and reliable withdrawal process.

? Fair Rates: Consistently enjoy transparent and great exchange rates and low fees when converting your crypto to cash via Bingtellar.

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