Post
Topic
Board Nigeria (Naija)
Re: The Opportunities and Hidden Risks of P2P Bitcoin Trading
by
Liocen
on 28/08/2025, 17:31:18 UTC
P2P Bitcoin trading has no doubt creeated many opportunities for people, most especially in Nigeria where the banking system often places restrictions on crypto. With P2P, you can easily connect and trade directly with one another. Most exchange uses an escrow system that temporarily holds the Bitcoin until both sides of the deal is complete. This makes the process safer, while still giving you freedom to set your own price, trade quickly as you can, and in most cases, make good profit from the difference in rates. For some of us P2P Bitcoin Trading has become a steadyy side hustle....

Just as there are opportunities, there are also risks that many beginners fail to see until they experience them. Now there are situations where someone genuinely sends money, you then release the Bitcoin, only for the payment to be reversed later through the bank, leaving you at a loss. Another hidden risk is that banks sometimes freeze accounts when suspicious transferss are traced back to them, and this can happen even if you didn’t know that the source of the money was fraudulent....

So what do you think guys how can we balance the opportunities with the risks?  Should the upcoming trader even be enccouraged into P2P trading or focus on other alternatives?
I think the biggest solution to this problem can be provided by our Nigerian government. Currently, Bitcoin is at the peak of popularity, which has affected many countries, among which we can separately talk about El Salvador, the American Federal Reserve, Japan's MetaPlant, and recently Hong Kong, China. Also, various countries around the world have now decided to use Bitcoin as their strategic currency. Our Nigerian government should legalize Bitcoin because if we analyze the inflation data of different countries around the world, we will see that the inflation rate of our Nigerian Naira is very high. In the face of this inflation, the Nigerian government should use Bitcoin as a strategic currency. When the Nigerian government legalizes Bitcoin, we will be able to easily convert Bitcoin through banking services.