JUST IN: FG to delist naira from P2P platforms

[Charles-Tim]

After Binance, it was OKX after CBN denied having plan to illegalize bitcoin and other crypto naira P2P trading. But we have guessed where they are going after telling the fintech not to allow crypto transactions but which is just not possible. You can see what the government are planning. They want to ban crypto P2P trading in Nigeria.

https://punchng.com/just-in-fg-to-delist-naira-from-p2p-platforms/

They want us to trade crypto in a way that will not favour. I think decentralized exchanges will be better.

[Thyplaymaker]

After Binance, it was OKX after CBN denied having plan to illegalize bitcoin and other crypto naira P2P trading. But we have guessed where they are going after telling the fintech not to allow crypto transactions but which is just not possible. You can see what the government are planning. They want to ban crypto P2P trading in Nigeria.

https://punchng.com/just-in-fg-to-delist-naira-from-p2p-platforms/

They want us to trade crypto in a way that will not favour. I think decentralized exchanges will be better.

You are right boss, that's just their plans. I don't actually know what they are gaining from this act they are doing, cryptocurrencies have help alot of folks in we country, to eradicate poverty and hardship but now the government ain't encouraging any one at all.

Boss can you recommend any nice decentralised exchange we can use to run p2p.

[Cointalksmilez]

I've been hearing a lot about the P2P issue in Nigeria, with many banks sending notifications to their users to stop transacting on P2P or risk being banned. I'm left wondering what the solution is to this problem. As Nigerians, we always find a way, but I'd also like to know if there are alternative platforms available.

[Igebotz]

I've been hearing a lot about the P2P issue in Nigeria, with many banks sending notifications to their users to stop transacting on P2P or risk being banned. I'm left wondering what the solution is to this problem. As Nigerians, we always find a way, but I'd also like to know if there are alternative platforms available.

The alternative I see is our former Way of trading p2p way back in 2016 when most of us came into the game and that's via Whatsapp and telegram.

There's a wallets in telegram that carries p2p sure that's would be the way out. Only few people would go to use Decentralized exchanges.

[Charles-Tim]

Boss can you recommend any nice decentralised exchange we can use to run p2p.

I see Agoradesk and Localmonero have the most ads for now. But we can not yet determine which one will be the best until the all centralized means of P2P are truly banned in Nigeria. As of now, I do not like the rate on decentralized exchanges. The third that I see is Hodlhodl which has so much unfavorable rates. Let us wait until the government truly ban centralized P2P.

The alternative I see is our former Way of trading p2p way back in 2016 when most of us came into the game and that's via Whatsapp and telegram.

There's a wallets in telegram that carries p2p sure that's would be the way out. Only few people would go to use Decentralized exchanges.

This has also been a way some people are using P2P even when there was no problem. But the ads I still saw on telegram is not also favorable. You can compare it with Bybit:

   

Telegram left and Bybit at the right.

Although it support USDT which is an advantage. Most decentralized exchanges are not supporting USDT.


I hope this rate will change for better if centralizedP2P are truly banned. Some people are interacting with both centralized exchanges and decentralized exchanges to make money which makes us see unfair rates.

[Thyplaymaker]

Boss can you recommend any nice decentralised exchange we can use to run p2p.

I see Agoradesk and Localmonero have the most ads for now. But we can not yet determine which one will be the best until the all centralized means of P2P are truly banned in Nigeria. As of now, I do not like the rate on decentralized exchanges. The third that I see is Hodlhodl which has so much unfavorable rates. Let us wait until the government truly ban centralized P2P.

The alternative I see is our former Way of trading p2p way back in 2016 when most of us came into the game and that's via Whatsapp and telegram.

There's a wallets in telegram that carries p2p sure that's would be the way out. Only few people would go to use Decentralized exchanges.

This has also been a way some people are using P2P even when there was no problem. But the ads I still saw on telegram is not also favorable. You can compare it with Bybit:

   

Telegram left and Bybit at the right.

Although it support USDT which is an advantage. Most decentralized exchanges are not supporting USDT.


I hope this rate will change for better if centralizedP2P are truly banned. Some people are interacting with both centralized exchanges and decentralized exchanges to make money which makes us see unfair rates.

The centralise rate is actually nice ohh, I thought telegram was kinda centralise too . Because to do kyc they do ask for personal information and stuff, and Is like screaming third-party.

I just hope for the government to stop such crazy act . Because am not seeing any good effect of what they doing in going against cex p2p.  The stuff just somehow. But well anyhow sha we will still survive and continue our cryptocurrencies journeys

Yeah right Charles-Tim we should wait till all cex p2p are truly bad . Before thinking of going into dex p2p.

[Sim_card]

I hope this rate will change for better if centralizedP2P are truly banned. Some people are interacting with both centralized exchanges and decentralized exchanges to make money which makes us see unfair rates.

The exchange rate is very poor compare to CEX, no wonder a lot of people are using CEX. Our government wants to make life more difficult for us, even with the hardship that they have already put the country in, they still don't feel remorse about it, but wants to make sure that nothing works to improve the hardship on a common man. Let's see for how long it will take them from delisting Naira from all the exchange. Howere, there are two Nigeria exchange yellow card and Busha, will they also duelist Naira from this exchanges because they are registered in Nigeria.

[SmartGold01]

No matter what they do that totally eliminate cryptocurrency trading in the country because the citizens are smarter than the government this can only work when there is no internet connection in the country. To me as long as their is internet connection then forget about it cryptocurrency trading must hold and youths must improvise to always outsmart the government for whatever they are doing to stop and restrict cryptocurrency trading.

[Agbe]

Exactly they are planning to remove p2p from all the exchanges, and they are still saying that it is because the exchanges dey manipulate the Naira which for me it is not true and na their policies naim e dey weak well well. The Nigerian economic policy can't withstand the test of di crypto firms because the economic agencies are too much corrupt. If not this na very simple something. When a company come to country to do business di company have to register and start work nd regularly pay tax which di government don set for dem so there will be no argument from anywhere again. They think dat na di exchanges be di problem of the Naira. Even dem stop all di exchanges or delist naira from all di exchanges, dollar no go come down because Tinubu himself e no dey use naira but dollar.

I think we can use decentralized exchanges because before den their prices sef go dey okay. And also telegram price and CeX are almost the same na just #200 different, so we can manage telegram wallet for the main time until we get better place to trade. This a weti I see today.

[Cryptsafe]

At this juncture, I have no doubt decentralised p2p would be the answer to the brouhaha and the ignorance of our so called agencies and their ceremonial heads and jamboree dancers. I believe already something more sophisticated is coming up sooner than later. It will only just take a little time to see to work it out to perfection. The Nigeria crypto market is not a joke and no exchange is ready to lose their quota from our market be it p2p or normal trading services, none would be left out in this case.

[Igebotz]

This has also been a way some people are using P2P even when there was no problem. But the ads I still saw on telegram is not also favorable. You can compare it with Bybit:

   

Telegram left and Bybit at the right.

Although it support USDT which is an advantage. Most decentralized exchanges are not supporting USDT.


I hope this rate will change for better if centralizedP2P are truly banned. Some people are interacting with both centralized exchanges and decentralized exchanges to make money which makes us see unfair rates.

Those appeared to be bot Marchants created by the exchange to drive traffic to the site while failing to alter the rates to match the current black market rate.  Did you check when those rates were set? It may be months ago.

The question now is: how many Nigerians trade in Bitcoin? The majority of trades are in USDT. The last Bitcoin drop was not beneficial for their business. One of my guys lost over 5 million Naira, and he has never left his holdings in Bitcoin since. He is a day trader, therefore I don't blame him.

[Rruchi man]

After Binance, it was OKX after CBN denied having plan to illegalize bitcoin and other crypto naira P2P trading.

Three days later, we still await enforcement? I am tired of this government, They should do what they like, and we will still find a way.

Telegram is already making their wallet that has a P2P section popular, and apps like WhatsApp will follow. There will be higher risks, but just as we always do, we will find a way to make it work.

[Igebotz]

After Binance, it was OKX after CBN denied having plan to illegalize bitcoin and other crypto naira P2P trading.

Three days later, we still await enforcement? I am tired of this government, They should do what they like, and we will still find a way.

Telegram is already making their wallet that has a P2P section popular, and apps like WhatsApp will follow. There will be higher risks, but just as we always do, we will find a way to make it work.

We made Centralized p2p worked- there were multiple p2p scams on centralized exchanges in the early 2017-2018 and we still make it work so I'm sure we would make anywhere we found ourselves work at this point. Everyone just want to trade and only little numbers want to scam but as usual with time the system will flush them away.  2 or 3 reports and they're gone.

They're after the biggest market so Bybit is likely their next destination if at they're not already on their neck.