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?
Scammers in P2P trade are fond of making incomplete payment, so if you are trading in any P2P platform always check very well to be sure that the buyer sent your money complete before you release your asset to the buyer because if you release your assets before finding out that the buyer sent you an incomplete payment, there's nothing you will tell the P2P platform that will make them recover your money for you because they believed the buyer sent you a complete payment before you released your assets to him or her.