How Do I Get Peer To Peer Cryptocurrency In Nigeria?

Webcrawler · 2021-10-13 10:25

How Do I Get Peer To Peer Cryptocurrency In Nigeria?

It's been several months since the ban on Cryptocurrency transactions in Nigeria. This action has doubtless impacted negatively on the trade of cryptocurrency in many ways. However, these assets are still actively traded. All this is thanks to exchanges and platformS that enable peer-to-peer transactions.

What is Peer-To-Peer Cryptocurrency In Nigeria
P2P is actually not a new terminology in the crypto industry. As a matter of fact, it is a very old form of crypto trading and perfectly upholds the decentralized nature of crypto transaction. The term P2P is short for 'peer to peer'. In simple terms, this concept works by connecting buyers and sellers of crypto tokens without the involvement of a centralized financial solution.

This is to say that, when a buyer initiates a request to buy any form of crypto, a list of traders with the preferred token will be shown to the buyer. As this happens, the buyer proceeds to choose a seller to buy from based on the exchange rate and means of payment that suits.

How to Buy Crypto on a Peer-to-Peer Exchange in Nigeria?

· Sign-up for an account on the P2P platform
· Search through the list of sellers and their offers
· Select a preferred seller, by filtering payment method, exchange rate etc.
· Input the amount you want to buy and make payment
· Once the seller confirms payment, crypto is released from the escrow and sent to you
· Should there b any disagreements, you can open a dispute

Is P2P Trading Secure?
It is only natural for users to be concerned about the security of a peer to peer transaction, seeing the anonymity and decentralized nature of the transaction. This is where a P2P platform like SHIFT.market, a p2p Crypto Exchange platform in Nigeria, comes in. During P2P transactions, the movement of tokens is regulated by the P2P platform to ensure the safety of the transaction. SHIFT ensures that no party is scammed during a P2P transaction.

It is impossible to lose funds while engaging in SHIFT P2P trading in Nigeria, thanks to a technology known as escrow. An Escrow system is a technology that checks-mates and holds an asset until the specified conditions in the crypto transaction are met. This happens in a way that benefits both sides of the transaction. Once a transaction is being initiated, an escrow system safe-keeps the token and payment until both parties confirm the transaction.
Bottom line
Peer-to-peer trading gives users control over who buys their cryptocurrencies and who they buy from. However, a P2P crypto transaction carries a measure of risk, and this is why you need a reliable exchange such as SHIFT.market. In addition to the security of the P2P platform, you want to consider their trading fees, speed of transaction, and dispute resolution system amongst other qualities. SHIFT is no doubt the way to get started in crypto investing today. To get started visit https://shift.market/

Webcrawler · 2021-10-13 10:25

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How Do I Get Peer To Peer Cryptocurrency In Nigeria?

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