I now sell all my cryptocurrency coins to alot of people I have in my WhatsApp page, I have never made any attempt to use the P2P because according to a lot of people they said you could be scam if you're not careful and I don't want to waste money in something like that.
Since the Nigerian government banned crypto to naira withdrawal, what method are you using to withdraw your coins??
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The ban itf cryptocurrency in Nigeria opened door for peer to peer trading in the country. People now use peer to peer to buy and sell their cryptocurrency without any concern
Yeah if the ban is lifted platforms like coinbase, bundle Africa etc will be active again because currently they are not running peer to peer transactions.
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I heard that the CBN is planning to lifting the ban impose in our country, after listening to what other country is doing with Cryptocurrency. They've seen that, it has some positive around it in the future.
I don't know if they are really trusted now because it has been long ever since I use it because I have a trusted people that i have been selling most of my cryptocurrency to, in all the same we all need to be careful there. this is actually from experience.
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- #246
Okay, P2P might be risky at times, but here in binance exchange its simply looking the best to cash out your coins as Fiat currency.
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The banning of crypto currency to withdrawal in nigeria has affected many people but there are many avenue in which you can exchange your crypto currency for money online through exchange.
Ever since the Nigerian government has banned withdrawal of cryptocurrency i now sell most of my coin twlo people who are interested in it but first of all I will convert the cryptocurrency I want to sell to usdt and sell it to people that are interested.
Like you just commented ,paid to pay most time might be risky too because you might decided to send your crypto currency to a buyer after reaching an agreement and he decided not to pay you after getting your money and there's nothing you can do about it .
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- #250
That's why you need BINANCE, with binamce, you don't need to face hassle trying to do P2P business. It is built with escrow, you can not lose money unless you want to lose. Through escrow the coin will be ceased, no one tampers with the funds or asset until both traders falls in concrete negotiations.
Okay if you think that they are okay then I should try it out because sometimes I always a risk my coin by selling it to the unknown people in my WhatsApp community, if I can make a successful transaction there then I will be okay with that.
People will always want to make use of any good opportunity given to them by turning it to scam others. Someone asked me to release my coin on binance when I am yet to confirm the receipt of payment.
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Don't even try it , they are mostly scammers , Binance may be able mail them because they will easily file a dispute against you.
Since they have bann direct withdrawal of cryptocurrency I do not withdraw my cryptocurrency to my bank account again, I only save it in my cryptocurrency wallet, because I do not see the need as I only want to keep all my assets in cryptocurrency.
The method I have been using since the ban of cryptocurrencies for exchange by the Nigerian government is the already know method they call the p2p method
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Since Nigeria have banned any thing crypto to naria, I usually use my binance wallet as a method of payment and no charges for any withdrawal you do. That makes withdrawal simple for me.
It was actually a sad and very reckless decisions to have made but right now I have resorted to the use of binance peer to peer to buy and sell crypto.
This is why Binance prepared a newbie peer to peer tutorial embeded within the Binance peer to peer section to help guide people against these scammers that want to spoilt the platform
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You are very correct. Binance peer to peer is the best among all the exchanges I have seen or used so far but caution must be taken these days especially newbie using p2p platforms to buy and sell cryptocurrencies.
Binance on their own has endeavored to make the peer to peer platform secure that one is only scammed if he fail to follow the instructions laid out there
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