Binance’s peer-to-peer (C2C) trading platform provides a secure environment for users to buy and sell digital assets directly. These rules ensure fair trading practices, protect all parties involved, and maintain compliance with anti-money laundering (AML) regulations. Whether you’re a buyer or seller, understanding these guidelines is essential for smooth transactions.
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Anti-Money Laundering Principles
All users must adhere to Binance’s AML policies:
- Account Verification: Users must complete identity verification (KYC) and ensure all registered accounts belong to them legally.
- Compliance with Investigations: When triggering AML alerts, users must cooperate with platform requests for additional verification documents.
- Consequences of Non-Compliance: Accounts may be restricted if users fail to comply with AML verification processes.
Buyer Guidelines
To ensure successful transactions, buyers should follow these protocols:
- Payment Methods: Only use payment methods supported by the seller and complete payment within the specified time frame.
- Verified Accounts: Payments must come from accounts matching your Binance identity, unless the seller agrees otherwise.
- Payment Fees: Buyers are responsible for any transaction fees charged by payment providers.
- Payment Confirmation: Only click “I’ve Paid” after completing the payment to avoid account restrictions.
- Real-Time Payments: For transfers exceeding $5,000, split payments into smaller amounts to ensure timely processing.
- Payment Notes: Avoid including sensitive terms like “BTC,” “cryptocurrency,” or “buy coins” in transaction remarks.
- Dispute Resolution: If the seller doesn’t release coins after payment confirmation, contact Binance support with valid proof.
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Seller Guidelines
Sellers must maintain transaction integrity through these practices:
- Consistent Account Details: Receiving accounts must match your Binance-registered identity.
- Timely Coin Release: Release digital assets within 30 minutes after confirming full payment.
- Order Modifications: Don’t cancel orders or dispute prices without buyer consent.
- Communication: Keep registered contact details active for dispute resolution.
Risk Disclosure
C2C trading involves significant risks:
- Price Volatility: Digital assets may experience rapid value fluctuations.
- Counterparty Risk: Transactions depend on the reliability of individual buyers/sellers.
- Compliance Obligations: Users bear full responsibility for adhering to financial regulations.
Binance acts solely as a platform provider and isn’t liable for disputes between users, except where explicitly stated in its terms.
Abnormal Trading Behaviors and Penalties
Buyer Violations
| Violation | Penalty |
|---|---|
| Frequent order cancellations | Daily limits and account restrictions |
| False “I’ve Paid” claims | Temporary to permanent trading bans |
| Non-compliant payments | Order cancellations and financial loss |
| Payment discrepancies | Refund requirements and trade adjustments |
| Malicious trading practices | Progressive account limitations |
Seller Violations
| Violation | Penalty |
|---|---|
| Unauthorized order changes | Mandatory trade completion |
| Account discrepancies | Temporary to permanent restrictions |
| Delayed coin release | Forced asset release or refunds |
| Unresponsive behavior | Progressive account limitations |
Security Measures and Account Restrictions
Binance may restrict accounts for:
- Suspected AML violations
- Fraudulent activities
- High-risk transactions
- Judicial requirements
- Platform security threats
These measures help maintain ecosystem integrity while protecting legitimate users.
Frequently Asked Questions
Q: What happens if I accidentally send payment to the wrong account?
A: Always verify recipient details before sending. Binance cannot recover funds sent to incorrect addresses.
Q: How long does coin release typically take after payment?
A: Sellers must release coins within 30 minutes of confirmed payment. Delays may trigger dispute resolution.
Q: Can I use someone else’s payment account for transactions?
A: No, all payments must originate from your verified accounts unless the seller explicitly agrees otherwise.
Q: What constitutes “sensitive wording” in payment notes?
A: Avoid any cryptocurrency-related terms. Use generic descriptions like “goods purchase” or “services.”
Q: How does Binance handle transaction disputes?
A: The platform mediates disputes based on provided evidence but isn’t liable for final decisions between parties.
Q: What should I do if my account gets restricted?
A: Contact Binance support immediately and provide requested verification materials to resolve the issue.