Bitcoin Forum

After the much pressure from government delisting NGN from most of the centralized exchanges causing many of us to face serious difficulties to convert our digital assets to Nigerian Naira, I have been moved to create this topic for everyone to easily sell and buy without being worried over the exchange that offers p2p trade anymore.

Here I will give some basic rules that would governed us while trading.

• For newbie who wants to sell or buy any digital asset you must first initial transaction before the other person could release s/he's fund to you
• In the case of newbie/newbies deals you both must consult me or anyone whom you think that is of higher rank, inclusively Hero to Legendary only to stand as escrow for the transaction
• Must post screenshots blurring your real name if you cared about not revealing identity
• If your digital asset is in exchange and you want to trade NGN, someone who has same exchange account will likely trade with you to reduce fee, that exchange to exchange transaction while receiver sends you NGN after confirmation
• Anyone can post their request here, for example; you need BTC, the next person needs Ethereum anyone who is available can take up the details provided s/he replied here.
• Do not accept deal from newbie in pm, all deal has to be open except for reputable members who are trusted
• While sending Naira to the buyer you must not include any crypto word. Preferably to be blank or for those who their banks made it mandatory to include narration you can just use "pay".
• No telegram deal, all deal are made here for transparency
• All cryptocurrency are welcomed to be accepted if only you see the buyer here who wants to buy or sell, but keep in mind no shitcoin will be place here.

How to trade Here ( you will select your trading pair to post just as I have shown below)

• I need BTC to Pay NGN
• I need NGN to Pay btc
• I need ETH to pay NGN
• I NGN to Pay ETH
• I need NGN to Matic
• I need TRX to Pay NGN
• I need NGN to Pay TRX

Side note: For trading that involves BTC from external wallet the seller has to pay for the withdrawal fees.

Exclusion

Do not accept trade from Red trust users, except their case aren't serious, even if you must do make sure such person initiate his transaction first before you release the requested asset to them.

Any violation leads to several tags from DT members, I will also contact some foreigner to tag the account for scamming.

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If you think there is something we need to add or removed from this post your suggestion are welcomed I will be open to readjusted after considerations.
My sole purpose is to help ourselves to solve some problems, we may not know the next centralized exchange p2p platform to be attacked by government.

Reserve

Reserve

That's a welcome idea because this method could actually work out very well because anybody who fails to comply after receiving payments will be putting his or her account at risk, however one of the things I like about this method is that those who doesn't have an idea on how to exchange or convert to naira will find it very easy to do so. Also in addition to the above listed information I think there should be some sorts of limitations or margin, as such that any member who is not currently working with any campaign or doesn't have a proof to show that he has the funds should be disallowed unless he or she has a guarantor, somebody that would prove that he can fulfill his end up bargain after receiving.

However reasoning all this on different perspective, for now the exchange may actually not gonna work because the buyer may not like to pay all the fees that would be involved during the exchange, so perhaps they would actually like to stick with there normal exchanges since there are so many exchanges that are currently working properly and doesn't charge them too much fee during the conversion. So actually the only way this your ideas will actually work properly is when there are no more exchanges left then people will be left with no option but to consider it.

Thank you for coming up with P2P trade on our local board since the government is delisting the trade of NGN in P2P trade. This initiative will play a major role if the government succeeds with its plan of taking out the trade of NGN on all P2P trade platforms. But to ensure 100% transparency in this P2P trade, digital transactions should be done on chain so that the buyer and the seller will not alter the transaction. We can also check the transaction with the transaction hash to know if the seller sent the agreed amount to the buyer. It will help stop members from getting their accounts tagged wrongly because some newbies might find it hard to access their funds on a centralized exchange when they have received payments. Because of the high ETH gas fee, I think it should be removed to trade against NGN so that members will not have to cover many fees when trading NGN against ETH, which will allow us to maintain on chain transactions.

Op I'm not quite clear with the project you are trying bro pull up. Are you trying to stand as a mediator to p2p transaction between member of this forum to ensure transparency?
Are you going to be taking commissions from successful trades?
What are the odds that a reputable member's account won't get hacked and used to scam  another person? And if this happens how can it be resolved?

I feel we should also consider questions like this before running into such transactions. I believe this is a public forum and any one can just create account and hunt  merit while he still uses the account for scam, these days scammer are becoming more patient and sacrificial. When talking about any thing that has monetary value experience has taught me to conduct only trusted and physical(knowing each other) business I don't know about the risk tolerance of others but I prefer an anonymous trade with a  trusted user.

have you sat to think of what will be your fate should the government succesfully delist naira from all accessible exchange? How would you carry out your p2p transaction? I guess the service OP is rendering is just an answer to that question or a possible alternative that might help out should a scenario as that surface.

If the Lending board can still remain functional with variable as this still in place, I don't think that it's going to be a serious issue here. Generally, an account that's in the wrong hand is a threat to the forum and isn't just going to be seen as a threat only in this context. And I guess there might be a range of transactions each person would be allowed to trade at a time to reduce risk tolerance.

do you think anyone would be too foolish to grow an account from scratch to the extent of being a full member and possibly participating in a campaign on the forum and then use the account to scam people and risk being banned? That's insane.

I kind of like the development but like some people have said already, as other alternative exchanges are still in place at the moment, it would be deficult to really need this kind of service now but it's best we have stuff like already on ground so if for any reason we run out of option, we know that we can depend on ourselves to run most of our p2p transaction without risking getting affiliated with a non reputable sources.

@Roseline492 @ Mayor of ogba @Grace333
I think you all saying the same thing apart from the last person commented above, now this is the real vision of this concept I presented above. I am not the exchange neither are mine going to charged anyone for trading here neither i mine the one offering this service, the thing is we (ourselves) everyone in this local board are the people who are going to use this service.

How to use this service like I said above, if Mr A has BTC and Mr B have Nigerian Naira and there's no place to buy so quickly any person can place their order here for buyer to pick up the trade and the person to send first is the one who placed the order to be triggered next the person.

For example, you have BTC and you want Naira, if person picked up your order then you will send your bitcoin to that person after you post your Txt id here then the next person will have to send you Naira to your bank account and also post his screenshot here blurring his name without any cryptocurrency related words. I can only play in when there seem to be lack of trust or bridge of contract then I will have to pm some people to get the account that default tag, maybe if you think the transaction is too high then you use me as escrow without the fear that your asset going to the wrong hand even as that I don't charged any fee.

Note that this is only brought to have a smooth deal of Naira trade (p2p) since most of  the centralized exchange are being attacked by government we can ourselves run this services since we have enough users instead of us to start sources for a p2p platform then I think we can run it here on our own without having to go under pressure to source for a place to trade it. Our sole purpose is only NGN conversion.. If you have any cryptocurrency and you want NGN you can place your order here then someone has to pick it up then send to you provided that the person is eligible just as what Marvelockg had already explained.

I have read your analysis on how this trading can work. I think for me, there needs to be an escrow for every transactions especially for transactions that involves two growing accounts. A condition must be set on the requirement needed to be an escrow member and act on behave of anyone. I think the moderator of this board can make a list of trusted members who are willing to be part of this.

And also, I noticed that you didn't add one basic rule to the ones you mentioned, which is: do not add Kobo or decimal values to bank transactions, such as N17,429.29

Personally I don't know any reputable exchanges left, went from Binance - Kucoin and now Bybit, meanwhile a lot fewer exchanges already delisted the P2P option in their exchange and peradventure we get to see Bybit delist aswell, how many more exchanges left  that one can trust with releasing our identity for verification process (BVN and other info).

I think OP or any reputable member here will serve as an escrow agent, so no need to be worried about loosing funds. Also, if any reputable member account should get compromised I feel he should be knowledgeable enough to know that he needs to create an Alt  with the same forum username to inform everyone about the incident so everyone can avoid doing any trade with the account.

Yes making haste while the sunshine is what op is trying to put forward to our forum to avoid the pursuing of black goat in the night instead of day time, it's no longer news as long as  your a member of this forum and always active to know how the government actions is affecting transaction in different ways of P2P attack on exchanges, I would at first thank op for bring up things like this to build up courage on how we can go about when the road seem to have ended for transaction all what we need now is how to be Worthy of trust to make this put forward by op to actualize if will are stock and no way to go again for transaction.

This initiative no bad at all but just that nah humans na bad. At the end of the day na bad belle (smammers) go still want maneuver the process to scam newbies of their funds just to make the initiatve to look dead on arrival. And them no go wan come with their main account. I no the try to talk as pessimist but I dey try use experience of wetin I dey see for a whole CEX like binance, kucoin, ByBit how these bad belle (scammers) the still bet mind wan run pass the system, how much more this.

I just wan ask this important question: nah how the traders go take the determine the price nah, like USDT to Naira price. Na to use a certain exchange price or na based on bargaining?

Transactions like this should be done using an escrow, any attempt to do dealings without an escrow may result in a loss of money. It happens a lot in the lending board, we see users default loans and even though the account is painted with red trust, the lender has no way of getting his money back. AFAIK, Igebotz is the escrow of the local board and should be involved in any such transactions if it is goin to be on the local board.

This is a nice initiative but the process may have some problems along the way if it becomes popular.

• This us not an exchange board, so trust score is not visible here, this will mean that someone who doesn't pay much attention can easily trade with a scammer and lose their naira or Bitcoin,

• Without an escrow there's no level of protection. Why anyone go send first to an anonymous person here when your only guarantee us they should be scared of getting red trust?

• Generating enough liquidity will also be problematic. This will be the major factor that will dissuade people.

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As a fix we can have 9ja people wey wan sell/buy bitcoins and have good reputation create their own thread in the general currency exchange board. Anyone interested in the service ca contact any of them and trade with them, publicly as well.

I've stated several times that the board will not be held liable for any loss of property, money using escrow outside of the local board.


I serve as the local board escrow, so I don't understand why we need to take our local business to the general board; aside from myself, we have some other respected members who can handle things. Any member of the community who trades with someone without reputation (a merits number is not the same as reputation) without an escrow is doing it at their own risk.

OP nice initiative but in order for there not to be porosity in the system, would have suggested that if anyone wishes to do an exchange service they can open their own thread about it just like cryptoprenuerBrainboss (https://bitcointalk.org/index.php?action=profile;u=1052091) is doing here (https://bitcointalk.org/index.php?topic=5200468.0). So it will be good if individuals bear their own risks and possibly if anyone should start an exchange service they should be a recognized reputable member just like CryptopreneurBrainboss IMO

The thread in question was last active on February 29, which is 4 months ago. The Op has also not given any update about whether he is still accepting orders or not, even though the thread is left as active unless the deals go on in his DM and are not recorded on the thread, which I doubt.
 
For the most part, unless someone here doesn't know how to make use of P2P services on other platforms that will also be more private, that's only when they could think about using the service and also to save the stress of escrow fees if there will ever be one, as escrow guarantees a smooth transaction and moving funds to and fro requires a fee to cover that up.

@Smartgold01, I will suggest you also add other pairs and not just pairs to NGN. I might have USDT and need to swap to Eth or any other crypto.

You are right but only him can't handle such voluminous trade or request from people, like I understood from op this is a general service unlike mega trading section were individual comes together to get a particular results. Let say you needs 100k worth of BTC and another have btc worth 100k at this point the two parties can easily exchange and sells to each others provided they are higher ranks without any red tags, and from what op said if you are losing trust then you could get any reputable member pm to serve as escrow including herself you can pm here. I think by the time we have utilized this service it will really help us out without the need to be afraid of the government shutdown most of the p2p service providers.
The whole thing is very simple, is just a matter of understanding and to bring major people into this service such as our mod, Charles-Tim, Mpamaegbu, Upgrade00, Adbitco  and CryptopreneurBrainboss.

There are many reputed members outside this local board that anyone can use. If someone prefer to use anyone that is not a Nigerian, the person can go for it.

Any reputed member like CryptopreneurBrainboss, Upgrade00 and I et cetera can serve as escrow. This will depend on willingness. In fact, I will soon come up with my escrow service soon on this local board.

You can be whatever you want to be but it would be foolish of anyone to ignore the community FREE escrow to patronize a paid escrow service. Their loss.

It's a challenging time for cryptocurrency enthusiasts in Nigeria, causing significant disruption. Previously, we relied on escrow services for transactions, though these services are not free and can't be expected to handle every trade, whether large or small, like exchanges do. Telegram once offered the ability to trade P2P with certain blockchains, which might be worth revisiting

@SmartGold01
I will like a service that can make use of the latest price of bitcoin and naira but you will include the percentage that you want to charge instead. For example, the percentage can be 1% of the total amount to be exchanged. But do not mind me, you are the one that want to run your service, wish you goodluck.

If that is foolishness, is it wise for someone to just conclude a service is not free when he has not seen what the service has to offer. It may be free or not. But not yet seen a service and being conclusive about it is totally not right in a public place if you make your conclusion or speculation public about the service.

The P2P on Telegram is moving more towards KYC and the rate is very bad for a centralized exchange. We do not also necessarily need to discuss about Telegram trading on this thread. Sorry for saying this. This is someone's P2P trading service thread.

Well @Charles-Tim I have seen your input and also red what other users said, then concerning the live price of btc/ngn before anyone buys he must need to know the current price of Dollars to NGN then he could placed his order for trade. This service is very simple and I don't think it should be something that would cause more argument or leading to lot of things, the thing is I am only trying make alternatives maybe if there are no place to quickly sell or buy NGN from those centralized platform that offers p2p or even if you all needs me to serves as the escrow between the buyer and seller then fine.

If so then I have to include my fee to make it authentic so that anyone placing order to buy or sell will be assured that s/he's fund is secure but even as that I will still needs some disciplinary official just someone mentioned you all before. I think we are big enough to offer a self service that we can sell and buy without having to depends on centralized exchange and there is no kyc required to trade here, as long as yiur forum account qualifies to trade here then fine you are good to go.

You have spoken my mind. Things relating to the local board should be kept in the local board and should by no means involve the outsider because it would rather cause confusions at the end of the day. My honest opinion is that the idea of the escrow should be taken into importance as the innovation is a unique one that would help people who still find it difficult to sell their coins in the CEX. The best thing to do is for OP to talk with the people the community trust for escrow.

My reply was directed at this thread in particular and not a general rule. CryptopreneurBrainboss has always had a exchange thread in the currency exchange thread and I have used that service repeatedly in the past.
If a reputable member opens an exchange thread he/she doesn't even need an escrow.

That's great to hear. Will be looking forward to you creating it.

CryptopreneurBrainboss exchange service was not only targeting Nigerians; he was also operating a general crypto swap business for a broader audience, which differed slightly from the BTC/Naira exchange service - my point is that creating a service outside of the local board targeting Nigerians makes no sense when only a few Nigerians are aware of such a board exists.

I had a service like that while we were still using a single thread local section, but it did not survive due to the nature of the thread at the time.

Charles-Tim Someone just started a BTC/Naira service; give it a break and focus on your paid escrow service. The OP is reputable enough to run this service. Everything is not competition. Lol

I already gave the reasons for my suggestion. There is no designated currency exchange child board here and trust score is but visible too making it a security risk to anyone who trades without adequate knowledge.

As for the further part of your comment, no need to result to ad hominems in a cheeky way.

Not everything is about you; you're attaching emotion to the whole conversation, I just mentioned that there is no reason to run a competitive service with someone in your own community when you already have an escrow service. I don't have any right to tell anyone what to do or what not and nobody is boss to anybody, we're on the Internet for goodness sake. Honestly, I don't care about any local services; my main job here is to clean and not censor scams. And for other part of your comments - really?  Lol. Okay


Financial dealings is sensitive business and I expect whoever in charge to do the basics( checking trust and all that before accepting or pairing a trade). Your suggestions are valid, hopefully we get a Service sub-board someday.

He missed the sarcasm part of my post but that's alright. No problem.

If there is free escrow service in the local board then it is better for all their local board members to use it and the Op should used it to initiate the process it he want to be an exchange in the local board. Then another reason why go dey the process na the escrow matter, we know that in centralized exchanges or normal p2p we normally use, the transactions were very fast but in this because of the escrow as the third party there will be more delays in the transaction but it is more saver.

Once there's confirmation from seller and the buyer, escrow triggers, seller/buyer settle fee based on ToS. Takes only a few steps.

You people should not make it look like I am offering a paid escrow when I did not have a thread for escrow service. Or where did I post that? I have always told Igebotz how he is so being conclusive. And let me tell you people, anyone can come with any offer, be it free or paid. You should respect that and nobody is foolish. Like I posted on this thread before, but which I later deleted, Igebotz is kind of annoying with his attacking post of implying what he does not know about. I hope he will stop this as I am not competing with anyone like I am repeating a class which I have been ahead. Anyone offering a service be it free or paid, leave the person alone than to make people just want to notice you on a thread and attacking the person.

You've mentioned my name more than 6 times in less than 24 hours, and you're still accusing me of attacking you, despite the fact that you know it's the opposite  :D. I've always kept a neutral stance and avoided making decisions based solely on my emotions. The community rules are not code in Stone, so I'm going to remove the part of me operating the escrow service on the local board so that any member of the board can use any escrow service they like.

The way I'm defending this issue, someone might assume I'm getting paid for it, but that's not the case, and the way you're approaching it, someone might think we're making a personal benefit from it, which is also false.

We've already derail the purpose of this thread with unnecessary arguments. Op you can create a new one for strictly business ( I will delete anything less) and leave this one for trading discussion.

Request for NGN to pay btc
Price 1475/ 1$
Total $29 worth BTC, you will pay 42,775 NGN (42,700 for easier way to avoid being track by CBN)
Sending from Binance. If order accept I will pm you my local bank details for payment, while you post your addres or Binance pay id to receive your BTC quickly.

Let us make our p2p service effective.

Edit..
Filled.

Sometimes ago, I came up with similar topic like that of Op here but I think there's a bit uniqueness in-between.


The Op has made some great creative ideals and you too has also made great points.
Actualizing this really requires lot of factors such as having much active number of vendors willing to trade on 24/7 either to buy or to sell and achieving this requires popularity of this forum specifically this section to locate the thread on a pinned. Awareness needs to be soecualtedy so that crypto enthusiasts who're not aware of this platform can locate and situate on this platform for their p2p transactions.
A a large scalability of crypto enthusiasts will be required to achieve this goal but the problem just as said is the factor inexperienced bitcoin and the crypto holders are vulnerable to be scammed in this process which I addressed as "crypto illiterates" in my thread and escrows on DT giving red tags on vendors or members who may have compromised the reputations may not still keep the system clean unless there'd be a solid guarantee that the escrows would be responsible for any scammed activities on the process else the negative occurances possible to happen at the course could tanish the reputation of bitcoin in our society and not just this naira P2P trading section in the forum.
Unfortunately I don't think the escrows would accept this term because it's not worth of engaging on such risks of where they're not benefiting else it'd assume to be a manipulation by considering that Investors and vendors may only be interested in visiting the forum only for the trading factor and not like those forum members who're here for otherwise of building their bitcoin carriers.

This Op intro is actually a good one, I don't know much about reputational logistics maybe those of you the escrows can structure on how to make this proposal a reality because with the mentality of our government, anything is possible so it'd be better if we crypto enthusiasts plans ahead on manoeuvring the p2p transaction ahead of time.

Scrutinization can  actually be a feasible starting point by my suggestion.

I was thinking in same line until I read your comment and I must say it is a nice idea, but a special thread should be created to know those who will be the P2p  traders we may likely trade our currency with.
Also, am a bit concerned about the government or the regulatory agencies finding out about such platform that supports this kind of transaction without any supervision from them, because it may cause a ruckus if all goes awry, or is this angle covered already?