Best P2P Crypto Exchange in Nigeria: In this article, we cover a detailed review of P2P Crypto Exchange in Nigeria. How does P2P Crypto Exchange in Nigeria work & Are important features?
Many people are looking for trusted and safe ways to acquire and sell digital assets as the cryptocurrency market in Nigeria continues to expand.
Peer-to-peer (P2P) exchanges have grown in popularity as a means of enabling users to transact in cryptocurrencies directly with one another on a decentralized platform.
There are a select few P2P exchanges in Nigeria that stand out as the finest in terms of ease, security, and user experience. These exchanges provide alternatives including numerous payment methods, escrow services, and a broad selection of supported coins.
Users can benefit from swift and hassle-free transactions while reducing the risks connected with centralized exchanges by choosing the best P2P cryptocurrency exchange in Nigeria.
What Is P2P Crypto Exchange
Without the aid of a middleman or centralized authority, people can purchase and trade cryptocurrencies directly with one another on a decentralized network known as a P2P (peer-to-peer) exchange.
Blockchain technology, which is the foundation of P2P exchanges, enables safe and open user transactions. P2P exchanges allow buyers and sellers to publish offers and bids for various cryptocurrencies before coming to an agreement on a price and payment option.
The exchange then allows the exchange of money and digital assets between the parties involved, frequently employing an escrow system to guarantee that everyone is upholding their end of the bargain.
Due to their decentralized and secure design and the users’ ability to maintain control over their own funds, P2P exchanges are growing in popularity.
| Binance P2p Trading | Binance is arguably one of the world’s top crypto exchanges |
| Remitano P2P | Remitano P2P is another one of the reliable popular p2p crypto exchanges |
| OKEx P2p | Futures trading, Perpetual Swap, P2P, etc. |
| Coincola P2p | Coincola has been available to Nigerians since 2019 |
| Coindirect P2p | Coindirect is one of the reliable and secure p2p crypto exchanges in Nigeria |
Best P2P Crypto Exchange in Nigeria
Binance P2p Trading
In terms of liquidity, Binance is likely one of the top cryptocurrency exchanges in the world. a trading platform with more than 500 cryptocurrency pairs that was introduced in 2017.
While Binance P2P was introduced in October 2019, it currently supports over 100 payment methods, including PayPal, ChipperCash, and bank transfers.
On Binance p2p, the following cryptocurrencies are supported: USDT, BTC, BUSD, BNB, ETH, and DAI. On Binance P2P, transactions are typically finished quickly because sellers can set a 15-minute time limit for their interactions with buyers.
If you use Binance P2P in Nigeria, you won’t pay any fees to post deals or conduct transactions. Essentially, using Binance P2P is free. By certifying all Binance P2P users, Binance also provides a secure layer of protection for your transactions.
In addition, Binance P2P offers an escrow service that ensures that each party completes their portion of the transaction in order to prevent theft or scams.
Of the P2P cryptocurrency exchanges in Nigeria, Binance P2P is unquestionably the most popular. Consequently, if you want to invest in bitcoin or any other cryptocurrency. Given that P2P completion rates are so high, Binance is a fantastic place to start.
Remitano P2P (Best P2P Crypto Exchange in Nigeria)
Remitano P2P is another reputable and well-known peer-to-peer cryptocurrency exchange in Nigeria where users may buy and sell bitcoin or other cryptocurrencies. With the possible exception of fraud issues, this platform can readily match buyers and sellers without the need for a middleman.
You can trade cryptocurrencies in Nigeria using Remitano P2P without getting flagged or prohibited by the CBN. Remitano has a sizable trading community, so if you utilise its peer-to-peer platform to acquire cryptocurrency, you’ll undoubtedly have a wide range of attractive prices to select from. Remitano P2P is simple to use for both novice, recreational, and experienced crypto traders.
OKEx P2p
In 2014, OKx, formerly known as OKex, was established. This platform provides a wide range of services, such as spot and futures trading, perpetual swaps, peer-to-peer lending, etc.
One P2P cryptocurrency exchange in Nigeria where users may purchase BTC, ETH, and USDT with Naira (NGN) via the bank Transfer payment option is OKx.
Similar to Binance P2P, OKx does not charge a fee to use its P2P feature because you only purchase at the price set by the seller you selected.
Escrow is a feature that is utilised by OKx P2P to guarantee all users have a positive trading experience. The bitcoin from the seller’s wallet is automatically transferred and locked into OKx Escrow when a P2P exchange is started transaction.
Coincola P2p (Best P2P Crypto Exchange in Nigeria)
Nigerians can now purchase Coincola as of 2019. There are more than a million members on Coinola, one of the peer-to-peer cryptocurrency exchanges in Nigeria that facilitates the exchange of gift cards for the Bitcoin payment method.
This cryptocurrency platform offers more than 14 payment options, including PayPal, gift cards from Amazon, iTunes, and Steam Wallet. In addition, Coincola provides a safe bitcoin wallet.
On Coinola, you can use the following cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Tether, Ripple, and Gemini dollar.
Coinola provides crypto-to-crypto pairs with Ethereum, Bitcoin Cash, and Litecoin and offers BTC and USDT as base currencies. It has its fees listed on its fees page and serves around a million users.
This OTC (over the counter) cryptocurrency exchange is based in Hong Kong allows you to also exchange another cryptocurrency for bitcoin in over 140 supported countries.
Coindirect P2p (Best P2P Crypto Exchange in Nigeria)
Founded in 2018, Coindirect is one of Nigeria’s most reputable and safe peer-to-peer cryptocurrency exchanges, allowing you to buy, trade, and store cryptocurrencies including Bitcoin, Ethereum, and more than 40 others. However, on the P2P marketplace of CoinDirect, only bitcoin can be used for both purposes.
Other services offered by CoinDirect include Wallet and Currency Swap. This cryptocurrency exchange accepts payments by credit/debit cards and more than 30 different coins.
You can utilise Coindirect’s conversion service (from the ‘Wallets’ section) or its P2P Marketplace (‘Buy Coins’ page) to purchase cryptocurrencies. Cryptocurrencies including Bitcoin, Bitcoin Cash, Dash, Litecoin, Ethereum, Ripple, and USDT are supported by Coindirect.
Conclusion
In conclusion, P2P cryptocurrency exchanges have grown in popularity as a mechanism for people in Nigeria to purchase and sell cryptocurrencies directly with one another without the use of middlemen or centralized authority.
Although there are many P2P exchanges in Nigeria, some stand out as the top choices in terms of usability, security, and practicality. These exchanges provide services including escrow systems, several payment methods, and a broad selection of supported coins.
Users can benefit from quick and safe transactions while lowering the dangers connected with centralized exchanges by choosing the best P2P crypto exchange in Nigeria.
Overall, P2P exchanges provide Nigerians a fun and decentralized method to engage in the expanding cryptocurrency market.
FAQ
What is a P2P crypto exchange?
A P2P crypto exchange is a decentralized platform that allows individuals to buy and sell cryptocurrencies directly with each other, without the need for an intermediary or centralized authority.
Why should I use a P2P crypto exchange in Nigeria?
P2P exchanges offer a decentralized and secure way to buy and sell cryptocurrencies, allowing you to retain control over your own funds and minimize the risks associated with centralized exchanges.
What are some of the best P2P crypto exchanges in Nigeria?
Some of the best P2P crypto exchanges in Nigeria include Paxful, Binance P2P, and LocalCryptos. These exchanges offer a range of features such as an escrow system, multiple payment options, and a wide range of supported cryptocurrencies.
How do I get started with a P2P crypto exchange?
To get started with a P2P crypto exchange, you will typically need to create an account and verify your identity. You can then browse through available offers and bids for different cryptocurrencies, and choose the ones that meet your requirements.
Is it safe to use a P2P crypto exchange in Nigeria?
P2P exchanges can be safe to use if you take proper precautions such as verifying the reputation of the other party and using a secure payment method. However, as with any type of financial transaction, there are risks involved, and you should always do your own research and exercise caution when buying or selling cryptocurrencies.
