Post
Topic
Board Nigeria (Naija)
Re: Always verify if an exchange do still have NGN P2P feature before sending funds
by
Salahmu
on 21/06/2024, 07:19:52 UTC
Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

Yeah is something that also needs to be considered because even as most of the exchanges has removed Naira from their P2P trading most people are still making the mistake of sending their funds into most of those exchanges because it was not quite long ago when a friend told me he had send some money into one of those centralized exchanges that has removed Naira from their P2P before he could even realized himself, so the fact is that since most people are always use to a particular exchange in terms of P2P their is always every chance most of them will always be making thise mistake.

However is not actually a big deal if somebody should mistakenly send his funds on the exchange that doesn't have a Naira P2P trading because you can still get back your funds, however the only thing that would happen is the time factor because if the exchange are those kind of exchanges that takes a lots of time before the arrival, it will only take much your time but in terms if gas fees I wouldn't actually consider it to bea serious challenge because in as much as some methods of withdrawal involves a lot of fees their are also other means that has a very little fee that you can even hardly noticed from your balance.