Topic: Watin go happen when all exchanges finally remove Nigeria p2p from Dem app? (Read 366 times)

In as much as we need the exchanges to run our crypto transactions with them and P2P service that they offer, They too even need us more than we do need them because you are the very reason they are there and are benefiting more from us through their charges, So regardless of the pressure that is coming from the Federal Government, I believe that things won't actually get to that extent as it will hugely affect their business due to the revenue they're making from this side of crypto enthusiasts and as we Nigerians got the interested number of crypto and Bitcoin enthusiasts and market that no one would want to lose due to our population.

The exchanges are way more afraid to losing the Nigerian market than you and are making alternative plans.

E get people wey dey heavily rely on p2P both the people wey dey sell and the people wey dey buy people coins. I nor really believe say even if all the exchanges comot Nigeria say we go dey stuck because  solution must dey for all of to carry on. Even if all the exchanges comot Nigeria and solution unto how we go continue take time to come outside, the time during then go be opportunity to learn how to hold the bitcoins and other coins we get while we dey wait for solution to come up. Government fit continue to try, but their actions nor go frustrate us.

Any social site like telegram wey dey allow users to put cryptocurrency inside, no dey always dey strong.
I believe say every thing wey regards cryptocurrencies get specialized services for the purposes alone and e no make sense to put trust in exchanges wey get dual function and not really cryptocurrency based because Dem fit close shop or simply focus on single services wey fit no include trading or HoDLing cryptocurrency in their wallets.

As we government dey tight us the citizens, with all this their werey policies wey no benefit anybody, I just dey happy say, technology dey for everyone and many of the services wey we dey enjoy was created out of the necessity of it, and that means that any 'what ifs' wey we dey reason, go always get a way to go around am make e no choke person.

Don't be fooled by this government; they know what to do to strengthen the Naira and will not do it. The Naira is not the only traded P2P fiat currency, and none of these countries has come out to blame exchanges for devaluation because it has nothing to do with it. Currency devaluation is caused by government policies and economic decisions, not traders.

What you see on Bybit and other exchanges is simply the black market rate, which is not far from the official rate. They led some of us to believe it was Binance's fault, and it has been more than three months since Binance delisted Naira, and nothing has changed. Bybit non the vendors are responsible for Naira devaluation against the dollar it's our Govemment.

At this point, I'm not sure if Bybit will delist Naira from their platform, because as the matter dey e be like say our government is dealing with these exchanges one by one, the reason why I never trusted Bybit is that, in the past few days we see how dem dey manipulate price, last week one dollar enter #1600 and still fall back to around #1500, now as it is the dollar price don dey enter #1600. The price no gree stay for one place and will make our government put eyes on Bybit because e will be their next move after they deal with Binance, Okx and Kucoin.

However, make we just dey pray say our government should not put eyes on Bybit wey remain because na the legit exchange wey remain be dat or else hand go touch everybody with these local vendors, some of them go pray say that kind thing should happen so they will get more people to scam, while some of them are very wicked because each coin that you trade with them, they will get their percentage, and we have no choice than to agree with everything dey say.

Social media trading? I no go recommend that one for person o. If normally, d matter come last last cast, the best thing na to find local trader wey dey around you then try research on them make you no go fall enter scam hand. Just like watin happen to one of my guy some time ago when binance newly delist naira p2p, I tell am say make e chill but baba no hear. E rush go dey find local trader wey e wan trade. As i dey talk with you now, dat my guy enter trade with the warey e no send funds for am after my guy transfer usdt give am. E wan talk e say na wrong address na e send give my guy say make e wait. Na d wait we still dey. So you see dat one go even give more red flag to any thing way concern social media people wey we no even know at all even distance friends fit scam us. Na something like forum for here na we go say no wahala. But u see those Facebook or WhatsApp Omo scammers go too much.

How you dey trust the ones wey dey centralized exchanges or the decentralized ones wey we no know who them be. E no get anything wey we fit do but to use what we have available. We just have to start developing trust in ourselves and protecting our interests because if we no do am then the government go dun succeed in diving us and making use to use our own hand carry end this good thing wey we dun start already. But trust Nigerians, we go survive because that is what we always do. I heard even for Binance exchange people still dey trade Naira but in an unauthorized way and that one carry more risk but people dey run am.

At a point we have to start trusting decentralized exchange and patronising it so they get revenue to develop/upgrade their sites to a standard that we can all use and be comfortable when using them. Bitcoin is a decentralized currency and we need decentralized service providers and not all centralized entities that the government can boss around and control them to have control over us which is exactly one of the things that we were running away from.

I don't really see any big deal here because if most of the exchanges delist naira from their pair or are no longer offering peer-to-peer services then we fall back to traditional way of trading or maybe trade on social platform such as circles of friends, Facebook, WhatsApp or even any other social media that connects real friends together. That is why I have created my own service thread like we within the following we can trade with each other whereby if any of us needed a particular currency it could be naira then the next person should be able to provide it and send to the required owner only trusted people can participate in it or if the person is reputable enough then the person is qualify but in the case whereby the person is not qualified then he has to look for an escrow to back them up.

Telegram p2p platforms will emerge, Whatsapp P2P platforms will also emerge either through dedicated WhatsApp group chats or channels and so on. The good thing about p2p exchanges as far as Nigeria is concerned is that a lot of people are now aware of the legitimacy and credibility of these p2p networks which means it will be far easier for people to build strong P2P communities on platforms like telegram. The knowledge about telegram mini apps is one aspect I think people would like to explore in building p2p communities in Nigeria although I have no idea on how that can be achieved or fully implemented but I'm sure Nigerian developers will find ways to go about that because it's a huge crypto investment opportunity for many interested parties.

you talk well. Anything that will stop p2p in Nigeria will undoubtedly have another alternative to resolve the issue, and you will trade goods without any problems, so I am not concerned about the government attempting to stop Niger p2p in Nigeria because Nigerians are very experienced and talented, and we always have another alternative. If they block one road, another will lead you to the same place. I believe that the authorities cannot close all exchanges for doing NIG p2p because there are many exchanges that run, and not every exchange will be blocked. So, don't worry about bringing up topics that haven't occurred because I don't think he will happen. because am hearing that government will probably negotiate with the exchanges for putting tax for any transactions you do, that will be bringing income to the government and if they approve it. I think All the exchange they block they will definitely bring it back again. Telegram is not a perfect place to do p2p to naira because they will be a challenge in the platform you can lose your funds because they will be many scammers in the platform.

All exchanges cannot remove Nigerian p2p from their platforms, some will definitely do, just as we are already having that we saw of recent the way many of them were leaving Nigeria for good, but all cant go at the same time, we still have another alternative on the use of the centralized exchanges, which are the decentralized exchanges, if we all begin to start using them in mass, then things will go more bad with the government and the pattern of their economy control.

To be honest, E no go funny if federal government ban all the p2p app wey remain we Dey manage for Naija, although many options Dey wey be say we go Dey follow small small because no matter how them try to stop am it can never stop cryptocurrency for Naija but it will not Dey easy as it is before, we all don master with the one wey be say we go just enter app do waiting we wan do sharp sharp without any stress, but why be say na tinubu regime all this things wan come stop? Why them wan stop am, Abi na waiting they make things worse for Nigeria be that ? Because me I no understand waiting this government Dey try tell us about cryptocurrency for Nigeria.

This thing start now no be today and many government come sit and they do their time and go without having problem with anybody but this current government now own Dey different, no matter how them try to ban all the app we go still get another way to do things and things, but it sha go touch us small because charges go too much for another way wey no be app way, by god grace government will never see us because no be the one wey be say person no go give us job and still want to block way wey we Dey use chop.

Nothing much we can do, if the government should paradventure tackle down the exchange currently offering the P2P service then we only get to find alternatives. We can't completely shutdown our individual pair trades because the government closed all exchanges. Untill then before anything happens, let me keep on enjoying easy usage on these exchanges, waiting till the government decides to return back further exchanges because I believe they are sooner getting into consideration.

People will get options everywhere they can and I know telegram is going to be a very brilliant alternative but the problem now is how safe is it going to be because the major challenges people still face when trading p2p is trust because telegram been the third part is not enough to me. I know their will be the once that will be trust worthy and am also very sure that in this forum their will be people that will come up with rendering p2p service in this local board. We are waiting for the next action that the government will take since they are planning to temper with the crypto space.

I also hope people will not misuse that privilege and want to scam people but am sure anyone caught will face a legal action and I feel their, should be measures put in place when it comes doing p2p. But if it is in this forum I don’t have any fear because one of the high ranks or even the moderator can be. And that way the issue of scam can be avoided. And when you have a trusted vendor just like you said you can always call to sell or buy when that level of trust is built already. The outcome what ever decision that the government makes will determine what part we are going to take.

Me I believe say Naija government no fit stop or delist all Nigerian from P2P exchange, because E go affect them too because most of our politicians they into cryptocurrency and dem no go like all exchange to shutdown. the highest thing dem fit do na just to add tax to am just as dem plan to bargain with kucoin wey dem never implement yet and other exchanges. Because if na wettin dey possible by now this bybit and bitget dem for don shut am down also. So weting no dey possible no dey posible atoll , if by chance dem delist every exchange from P2P atleast this telegram P2P wey people dey use now Naim go be the alternative or better still we get Nigerians wey dey abroad wey dey into cryptocurrency trading with P2P we fit negotiate to send them coin to the exchange for abroad make them help us exchange am to their residence country currency then send am to us through fiat. Or I fit no mind go Ghana or any African neighbouring country go do their national Identity card use am verified new binance account also open bank account with them come back Nigeria come dey use am. den remove 2fa authentication from phone number den use only Gmail. Anytime wey I received bitcoin or any coin for that my foreign wallet I fit convert am to fiat from my foreign opay account den i fit send am to my local Nigeria account that's all. I no no how possible this idea go dey because I never try am but I believe say Naim be the best way.

  I no dey think am bcos dem no go fit close all, na big ,big exchange dem they target, wen Binance stop the p2p dem think say e go stop cryptocurrency transaction,  Okx join too, boys still dey trade na exchange wey stop p2p with Nigerians go lose, because for Africa na Naija be top when e concern cryptocurrency transaction. Imagine losing naija e go worrybthe exchange. Make no body think of the telegram 2p2, if you no get option them go back to old method of trading with agent in your neighbourhood. Omo mk pepsin no stress him head, way plenty naija boys no dey sleep we go sort out sef out when de time come.

Telegram p2p rate too Dey extremely poor as compared to other exchanges but the option be at all at all make we still see something than to loss all.
Away from that, if all p2p finally comot Nigeria for their market, one major danger wey I know say go follow this matter na the fact say the rate of scam go increase badly just like the early days wey people been Dey trade through private vendors and WhatsApp vendors and one sweet thing on out our country and its citizens be say, we sabi adapt and na why whatever them impose on us, we no Dey too reason am but rather we go begin seek ways to adapt to am.

I know say generally na scammers full telegram but I no think say that’s same case with their exchange because I been visit their exchange of recent and it seems them no even get much vendors which means say the management fit easily regulate the few vendors them get

I no believe say government go fit stop all exchanges from offering p2p services in Nigeria because no be today them done dey try to stop am yet e no dey work. Platforms like Remitano dey the game since and them no dey reason our government one minute. Na only all these big exchange them go panic untop our government because na that p2p service be wetin dey sustain platforms like Remitano, Luno and the likes. Na them go be the last people wey go close their business especially when them know say them fit escape all the government traps.

If government manage stop p2p exchanges, we go back to how we been dey do am which is using trusted agents. I still get agents I been buy my first bitcoin from. Them plenty and are reliable, all though scammers dey too o, so one gat shine eyes make him no lose guard.

Me I never try this Telegram p2p before and afraid no go let me try am as e be say I still get CEX wey dey offer p2p services. Until them eliminate all the CEX wey dey offer p2p services, I go still dey use them because them dey better for settling matters arising.

P2P na serious matter for inside crypto transactions for Nigeria, now because na through exchanges most people de do am. Now wey most reputable exchanges don shut down dem naira p2p services, if di remaining ones join dem, na im be say scams go de on di increase. Except for trusted people wey you know one on one or di people wey come very highly recommended, you go de risk your coins to do p2p with people wey you no know dem reputations, dis na di reason wey exchanges take de popular.

Anyway naija people no de carry last, anything wey no get head we go find better head put am. If all di beta exchanges remove dem naira p2p, I sure say many reputable members for our board go de run vendor and escrow services, so e no go too affect us. But for many Nigerians wey no know reliable people or platforms to run dem p2p transactions with, dem go de vulnerable to scammers.

The need of naira from our local merchants such as the retailers and local vendors would be the only problem if not we can always transact bitcoin directly on the decentralized exchanges.
By so doing, we're exempting exchange of bitcoin to naira at the course so, the p2p would just be transactions of paying your bills with bitcoin.
Another challenge we'd face is the transaction fees which would be too high for even when making little amount of transactions.