I’ve noticed many newbies in Nigeria are losing money through P2P trades, especially on Telegram and WhatsApp groups. Some scammers pretend to be buyers or sellers, and once you send them your Bitcoin or naira, they disappear.
From what I’ve seen, the safest way is to only use trusted platforms like Binance or Kucoin, or reliable local apps. Another tip is to never release crypto until you confirm payment inside the platform.
But I know there are other tricks scammers use. For those who have been in the crypto space longer, what are the best ways to avoid getting scammed in P2P trading here in Nigeria?
Op, from the look of your account, you are also a newbie who is calling other people newbies. From your post, you are right that many people have been losing money when it comes to doing P2P on some exchanges because scammers are everywhere. This is not about only the newbies even if you have been doing P2P for decades, you can still get scammed. We just have to be smart before releasing coins to any buyer. It even happened to me a few days ago, the person tried to remove 3k from my money. If I didn’t checked well, the money would have gone.
In addition, I don’t know if you are the only one using the exchanges you listed so, because Binance and KuCoin delisted NGN P2P from their platforms over a year ago. So there is no way you can use Binance or KuCoin to sell your coins to NGN. But for now, you can only use Bybit or any other exchange that still supports NGN P2P.