What happens if a buyer sent money to a seller on p2p and the seller claimed they didn’t receive any money?
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Im new on crypto and I wanna buy USDT, I’m wondering what would happen if the seller didn’t release their crypto after I transferred the money.
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You have to file an appeal & prove you sent the money!
Binance will hold the asset until Binance determines who is right based on evidence.
Choose experienced traders with many trades and 95%+ success rate to avoid something like that. Every single trader has “Traded X times” with success rate in % indicated right below their names.
+ Binance bans fraudsters so it’s extremely rare to encounter something like that if you are attentive. Trade in small volumes many times. If you wanna exchange $1000 do it 10×100 instead of 1×1000 to reduce your risk. This won’t affect fees paid or exchange rate.
That’s not possible on an exchange
Edit: missed the p2p part of the question my bad
First thing is to send proof of transfer, if vendor confirmed that he didn’t receive anything. U can escalate to binance and your will get refunded . After investigation.
If you already sent the money and the seller didn’t receive it, you can also try to call your bank to confirm whether the money was actually sent or if there was a problem with either you or the sellers account, this happened to me before and I had to call the bank, you can also ask the bank to cancel the transfer if it truly wasn’t deposited
Hi Binancian,
In such cases, you can connect with our support team via live chat [www.binance.com/en/chat](http://www.binance.com/en/chat) and explain what happened. Our team will assist you accordingly. If you have already experienced, please start a chat and share the case ID with us so we can follow up.
In addition, better to take a look our guide Binance P2P Appeal Handling Rules for further information.
https://www.binance.com/en/support/faq/binance-p2p-appeal-handling-rules-360041839052
-MK