Cryptocurrency is all the rage right now – it is one of the hottest assets in the investing world these days, and for good reason. Over the past decade alone, Bitcoin – one of the most popular cryptocurrencies – averaged a return of over 200% per year (according to a report by Yahoo Finance), which is one of the highest returns ever made on any financial investment. It is no wonder that many people are turning to these forms of investment to find the freedom of money.
Though cryptocurrency is fast becoming one of the top investment choices for young people today because of its high returns, it is also important to consider that these high rewards come with their share of risk due to factors such as high rates of volatility and unstable market regulations. But, primarily, a number of people have fallen prey to crypto scams while others have lost their assets as a result of improper planning. However, with the right strategy in place, the journey through investing in crypto can prove to be a very profitable one.
The first step on the journey is to choose a trusted exchange platform to trade on. There are hundreds of crypto exchange platforms around the world; and to find the one that is right for you, you will need to decide what features matter most – the priority of which should be security.
Choosing a platform like Binance P2P, for example, could allow you to buy and sell a wide range of crypto assets and trade directly with other users, while being able to do so via a robust security framework that ensures users enjoy a safe and secure crypto experience.
George A, a top P2P trader, discovered Binance P2P after he fell victim to a crypto escrow service scam that saw him lose 50% of his initial capital.
In that moment, George understood the importance of investing only through a secure exchange platform to be able to make his profit – and so he researched and experimented on different P2P gateways before settling on Binance. It was only a matter of time before he was able to invest securely and reap his desired returns. He shared with us his top 3 tactics to help make safe investments in the Binance P2P marketplace:
- Check the Vendor’s feedback and competition rate
“Before you start a trade or pay any vendor, make sure you check their feedback and completion rate.”
Tip: To view a user’s P2P activity, you can click on their nickname on the Binance P2P homepage. Their user profile will include information such as user feedback, 30d completion rate, and the average transaction time.
- Don’t release your assets without full payment
“Don’t let buyers trick you into releasing your assets without payment in your account.”
Tip: Once a buyer places an order, the seller’s cryptocurrency will be automatically transferred to a temporary deposit, also known as Binance’s crypto escrow service. If you’re a seller in this situation, always make sure you’ve received the full payment through the correct channel before you confirm the transaction and release your assets.
- Report suspicious transactions
“Report any suspicious transaction to the customer support team.”
Tip: If you are suspicious of your counterparty, immediately cancel the transaction and report the user to our Binance customer support. Remember to provide screenshots of the transaction and any supporting evidence in your formal appeal.
Now that you have learned these three tactics to help you make the safest crypto investments with Binance P2P, you are well on course to making extra money or creating your own crypto business to make a living! With Binance P2P, the opportunities are endless. Click here to get started on your journey to safer crypto investments.