hi guys, i want to know if implementing KYC will prevent a scammer buyer from requesting a chargeback?
So far, my experience selling and buying on Binance has been good.
What happen if a scammer decide to do a chargeback?
I hope Binance will give KYC to us and we report it to relevant authorities.
I'm not sure about Binance, but IIRC, in paxful, they would give you the IP address (registrations and logins), email, and phone number but that's obviously not going to help you with much.
Chargeback experiences make me worried after reading all the stories,
but if big companies like eBay are accepting PayPal, then why should we honestly, even as the smallest merchant, even worried about it?
AFAIK, exchanging cryptocurrencies is against their terms of service. You shouldn't expect them to help you if you ever get scammed. I'm not sure if something has changed after
this though, maybe someone could confirm.
My advice to you would be to simply try and find multiple traders with a lot of trust feedback. That way you can trade small amounts with multiple people, and reduce the risk of losing all your money.