can he just say he didnt receive the myr in his local bank account? Binance can check seller actually received the money?

E.g. seller received RM100K in RHB, but didnt confirm with Binance..just say buyer didnt bank in. Buyer provide transaction proof to binance but seller say fake proof..can like that or not?

This post has been edited by ahpoo: Feb 4 2021, 08:50 PM

u can also prove that u transferred to him the money, usually how a p2p escrow transaction will begin like this

- buyer A wants to buy from seller B, buyer A click buy on seller B's page
- the platform allocate 1 hour for the transaction to complete, platform will hold seller's bitcoin/crypto
- buyer A will have 1 hour to transfer the money to seller B's bank account
- buyer A transferred, seller B acknowledged and click he received the money in his bank account, platform will then release seller B's bitcoins/cryptos to buyer A's account/wallet
- transaction complete

but for the scenario u mentioned
- buyer A transferred but seller B didnt acknowledge, after 1 hour, the transaction didnt complete and buyer A report theres a problem, then it goes into dispute, buyer and seller can both prove that he/she did or didnt transfer or receive the money or other problems that arise during the transaction, the seller's bitcoin/crypto is still on hold until the dispute investigation is completed

so far i used p2p platforms to buy and sell bitcoins, never encountered any issue, theres once i rmb the buyer bought my bitcoins but i didnt receive his money after like half an hour, then he told me that his online banking ada problem and he cancelled the trade and i get back the bitcoins that was held by the platform

and usually if u buy from those reputable sellers, they wont do anything funny one, cos they also cari makan there and built up their reputation, wont because of 1 trade then ruin their reputation and account, and u dont one shot buy 50k or 100k la, try split into multiple transactions, like 3-5k at a time to minimize the risk also

b4 dat i also scare about things like that, thanks for the info too

Noted..so still got some element of fraud risk...I think, in my scenario, in the end binance will take seller's side since there is no way they can confirm buyer provide the correct/non fake proof since no link/relationship with msian financial institutions..dont think they will hold the crypto in escrow forever...

Hmm, best way is like you said, to do small batches and hope for the best...

This post has been edited by ahpoo: Feb 4 2021, 10:17 PM

yes there is still some fraud risk, but most of them are safe especially those good reputation/ratings ones, cos if a scammer wan to scam on the p2p platform he/she will need to have the bitcoins/crypto in his/her wallet in that platform then only they can sell,

its not like in mudah/carousell u just put a pic of the item then enough ledi lol

and thus even if the scammer want to scam u, its very risky for him/her also, cos the platform will hold his/her btc until the dispute is over and then suddenly the btc price drops and he made a huge loss by not selling it, and his rating will also be bad and will have a disputed tag

but yeah still will have some scammers, just buy in small amounts lo if u buying from not reputable sellers

It happened to me once years back, but the buyer was trying to scam.

i dunno why I cant enlarge your screenshots..so cant read...but i was thinking it can happen the other way around also..so in the end what happened? which side binance sided with? got your cypto back? how long?

Weird, I downloaded the attachment and reuploaded them. I think LYN has issues with this.

For my case, it happened on Remitano. Buyer claimed he paid but "accidentally sent via IBG" and accused me of trying to scam him.

I stood my ground and told him to furnish any proof. He didn't so after 1 day of waiting, the crypto was release back to me.

It was a blessing in disguise though, since the price appreciated by then

Binance from hk?

oh ok la good for you, buyer cant provide proof...but I think if more advanced scammer, sure can produce fake transaction proof i they really want to...that time also abit hard, but like i said before, most likely the exchange will take seller's side if they cant confirm that the transaction document is not fake.

This post has been edited by ahpoo: Feb 4 2021, 10:53 PM

It might require an additional effort from the seller's end, but one way foolproof way is to record yourself navigating to the transaction page while censoring other sensitive info.

If there's one TX for that day assuming you didn't send or receive money, that amount should tally with the order's.

This post has been edited by UserU: Feb 4 2021, 10:58 PM

$7 now

Ok I stupiak registered a Binance account without using a referral, how ah? Delete account or is there a way to use the referral like Luno

parking,.. wanna learn crypto,..

Bos sudah millionaire kah? Pancake always seem to go up

Hi All Sifu Sifu, if I install Binance but it didn't show up our country, which country or region we should choose?
And also to verify our account with our details/IC, it will go through?

fuark just saw this thread a little too late

I already parked RM200 on LUNO for BTC and by looking this thread don't think I will be able to take out any money safely lmao

any idea if can transfer to Binance?

im not sifu but for the verification part, yup i sent my ic and selfie pic to them for the verification, took them about 1-2 days to verify, i think i pick malaysia too, and also provide them the phone number of ur, but i forgot about that part, if they let u pick which country, can just pick malaysia if ur from here,

what is the minumum rm i can buy to start with? test test play

usd 15 not wrong