Cryptocurrencies (spearheaded by the Bitcoin) was introduced over a decade ago, and has consistently continued to see increased adoption all over the world ever since. Even with this widespread adoption, Bitcoin and other cryptocurrencies continue to see resistance from authorities in some countries around the world: India, China, and most recently, Nigeria.

While cryptocurrency exchanges (platforms that let you buy and sell crypto) are legal in these countries, the authorities there have barred banks and other financial institutions from facilitating transactions involving cryptocurrency. This makes it very difficult for the exchanges to operate, and in-turn, making it almost impossible for individuals to trade crypto.



With regulations like this in place, crypto exchanges are now reconsidering P2P trading. P2P trading was used in the early days of crypto trading, when there weren’t many platforms to buy and sell the digital currency.

What is P2P Cryptocurrency Trading?

The most common method for individual to buy, hold and sell cryptocurrencies is through centralized exchanges like Luno, Binance, and Roqqu. These exchanges sets a price for the purchase of their own stocks of cryptocurrencies and then exchange your fiat money for cryptocurrency.

Peer-to-peer trading (P2P), on the other hand, lets individual traders trade different cryptocurrencies among themselves. For instance, Trader A has 2 Bitcoins to sell, he/she gets matched with Trader B that wants to buy the same amount of bitcoin.

Cryptocurrency exchanges have began adding the P2P trading feature to their platform to let users in countries with restrictions trade cryptocurrency.

In the case of peer-to-peer cryptocurrency trading, exchanges only act as matchmakers, connecting individuals wanting to buy cryptocurrencies with with other individuals looking to sell.

The sellers control and set their own price and they get to select what types of payments they will accept. This way, buyers get to choose from multiple payment options: PayPal, Bank Transfers, Credit Cards and even cash payment.

To round it up, while some exchanges collect a fee for matching cryptocurrency sellers to buyers, other platforms do this for free. Before choosing an exchange that supports P2P cryptocurrency trading, be sure to check out the attached terms and conditions.

Featured Image: Cointelegraph

https://www.dignited.com/76107/p2p-cryptocurrency-trading/

Awesome post. Thanks for sharing. What platform do you recommend for p2p?

Nice narration,

Thank you for this article. I love trading p2p on Binance. I hope Yellow Card will also introduce it

I do use Yellow Card as well. I hope they introduce p2p soon as well

OladapoF:
Thank you for this article. I love trading p2p on Binance. I hope Yellow Card will also introduce it

Due to the strict regulations imposed by CBN it’ll be hard for Yellow Card to offer P2P, however, they do have an easier alternative to P2P that helps Nigerians overcome the challenges that P2P has introduced

EinsteinAyo:
I do use Yellow Card as well. I hope they introduce p2p soon as well

Great content. What's the best coin to buy now and where?

OladapoF:
Thank you for this article. I love trading p2p on Binance. I hope Yellow Card will also introduce it

I hope so too. I've heard lots of great things about this Yellowcard though

OladapoF:
Thank you for this article. I love trading p2p on Binance. I hope Yellow Card will also introduce it

I also use both platforms. But yellow card offers a better alternative

And please for those saying crypto has been banned it’s not true. What CBN did was to regulate it.

I trade alot.... Binance, yellowcard..kucoin... E. T. C

Niswayne19:


I also use both platforms. But yellow card offers a better alternative

And please for those saying crypto has been banned it’s not true. What CBN did was to regulate it.

oh so we can still trade and it's not a crime yeah?

Theanyanwu:
Great content. What's the best coin to buy now and where?

Buy more Bitcoin

Ay04z:
I trade alot.... Binance, yellowcard..kucoin... E. T. C

I have used most of the platforms
How reliable is Yellowcard?

Nice information.

Theanyanwu:
Great content. What's the best coin to buy now and where?

USDT, and you can buy at an amazing rate on coin pocket, yellow card and Kucoin.

Mthumbie:


I have used most of the platforms
How reliable is Yellowcard?

very good...

Ok
Between binance,yellow card and kuncoin which platform offers cheaper price for btc

And can anyone help me out with the crytocurrencies that can easily be mined using my phone and how

chuksme:
Nice narration,

thank you

Samken2:
And can anyone help me out with the crytocurrencies that can easily be mined using my phone and how

check YouTube?

Well, I'm not sure if it's actually convenient, and I can tell you that I've been working with https://changelly.com/buy/ada/ca for a long time already, and I think it's already a great way to trade and profit, so there's no need for me to spend forever looking for a decent P2P platform and trade there because I already have a pretty good exchange platform.

This is one of the possible good earnings on cryptocurrency, almost all cryptocurrency exchanges have p2p do. There are a lot of investments in crypto, both in the long term and not. I often look for
best crypto exchange As interest in crypto assets grows, we begin to notice platforms that are unregulated and uncertified. Putting money into such a platform can result in losing it completely. That's why we need to investigate different crypto exchanges

Freelancerx:
oh so we can still trade and it's not a crime yeah?

Yeah you can still trade crypto in Nigeria. Just that it is regulated. I still trade UsDT on yellow card.

Okay thanks

Niswayne19:


Yeah you can still trade crypto in Nigeria. Just that it is regulated. I still trade UsDT on yellow card.