Always verify if an exchange do still have NGN P2P feature before sending funds

[EluguHcman]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

[Charles-Tim]

Which crypto exchanges remove naira from P2P recently that makes you come up with this thread? All the exchanges that are having crypto/naira P2P that I know are still having it aside the ones that we have discussed about in the past and which Kucoin was the last that we discussed about after Binance and OKX. Recently, among the exchanges that still have naira P2P, none of them removed naira from their P2P and Nigerians are trading there. Or what did you mean as scrapped?

[Su-asa]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

I like the fact that you are sounding with this thread as a reminder to all Nigerians that are using centralize exchange to exchange their coins to fiat. However even if anyone sends coins to a centralize exchange that doesn't support Nigeria p2p in their exchange one can still resend it out to another exchange. An exchange not supporting Nigerian p2p in their exchange doesn't can't stop Nigerians from putting coins in the exchange. We can still use those exchange to keep coins for short period of time. Moreover an exchange is just to sell, buy, convert, trade, send and receive coins there's isn't any were you see save coin, which means a centralize exchange doesn't support long term holding. A lot of exchange are supporting Nigerian marchant, which means any exchange that doesn't allows Nigerians to exchange coins to fiat in their exchange are the ones losing big time.

Which crypto exchanges remove naira from P2P recently that makes you come up with this thread?

OP I think you should answer this question right away.

[EluguHcman]

Which crypto exchanges remove naira from P2P recently that makes you come up with this thread? All the exchanges that are having crypto/naira P2P that I know are still having it aside the ones that we have discussed about in the past and which Kucoin was the last that we discussed about after Binance and OKX. Recently, among the exchanges that still have naira P2P, none of them removed naira from their P2P and Nigerians are trading there. Or what did you mean as scrapped?

No one has been according to your question and I came up with the thread because beginners who came or that may come ahead of time without the knowledge that lot of Centralized exchange has delisted naira P2P feature from their platforms can be victim to this.

Also as much even some of investors whom have been into the industry for times now without having comprehensive details of the affected exchanges can also be victims in believing that the only exchange being affected is the ones to their notice.
So it should be regarded not effortlessly to always have that accessible before proceeding to fund a centralized exchange for P2P trading.

Moreover, our selfish governments never cares about how such action or immediate effect of cutting naira off from the exchange could affect its citizens in as much they don't let us know that such action would be carried in a specific people of time.  I mean we are never notified before such removal of naira on the P2Ps. Although it has formally been but now has become a norms that we can just wake up one morning and find out comfort exchange being affected.

So, the surveillance seems necessary at all course to avoid "Had I Know".

[Localhostspeed]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

It's no longer a new thing that most centralized exchanges have bring down p2p service from there exchanges due to government pressure. The only legit p2p exchange with good price available right now is Bybit and I think even the exchange was able to disallowed manipulation because ever since all has been shutdown, the manipulation of the price has stopped, it's been a month now since people hype about dollar and Naira and it has stablize at ₦1500.

If by mistake you deposit coin into centralized exchange and they don't have p2p, you can still withdraw your coins to the one that has p2p, Bybit for example. You can convert your coin to usdt and select the lowest chain for smallest transaction fee, Binance has BSC that will charge $0.3 for transaction fee, Kucoin has zero fee up to 4 transactions if you use TON blockchain and TRX is another option to send your coins with 2 TRX max as transaction fee which is not upto $0.2 but conversion might take another charges that's why bsc-usdt is the best option.

[Ishicryptic]

I take this your thread as an advise to us to be vigilant anytime that we want to move our coins from our none custodial wallets to that of an exchange because from recent developments naira p2p can disable without prior notice. Except for Binance that had issues with our government and their naira p2p was disabled, I don't think that there was any notice before OKX and kucoin, naira p2p were disabled, so there is need to always check before moving coins. Now that the Binance officials have been released by our government,I wonder when their p2p and the others will be enabled again so that Nigerians can have more options to carry out p2p transactions in exchanges.

[Egii Nna]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

You came up with a nice suggestion and advice, but any one that is very vigilant on what he is doing will not just send his funds to exchange without checking, especially if the person is in this forum, because any time an exchange removes NGN p2p, they will definitely bring the discussion here in the local board, so even if you don’t do research, you will see it, and moreover, many have started understanding to check even though they have no USDT or bitcoin, so it is simple. 

Furthermore, if you even made that mistake, you can still send your USDT out without any transaction fee, so don’t panic. All you need in that serious situation is research and help from people who have experience already, because you can use TON which is even for free, or you can use BSC(Bep20) which has lower translation fees than a dollar, just some cents.

[nelson4lov]

It's not everyone that uses a centralized exchanges that does so because of P2P. There have been new cases of scrapped P2p markets so I don't think this is mistake enough. Even if it is, the user in question can just trade for currency with a cheaper transaction fee and use that instead. It would only cost some extra cents and they'd be good to go. It's a good advice for a newbue but if it's meant for people that are aware of the regulatory pressure and P2p markets in the last couple of months, this is like bare minimum knowledge.

[Marvelockg]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

although it's not advisable to hold much of your coin in an exchange, it's not Everytime you receive some fund ina n exchange that you trade it out ASAP. Some people have routine time they trade there coin into fiat which can be in monthly bases and some might HODL it for more than a month month before even doing a p2p transaction that converts it to fiat.

But in general, it's not out of place to check out and be sure that the exchange you're using still has NGN as a P2p option although at the moment I haven't heard any news from the angle of our government that seems to be suggesting that they are still furging ahead with thier intention to delist naira from the other exchange we're currently using now. If thier is a rumor like that, then it's wise to be all to cautious but even if we end up sending our funds to an exchange we've known in the past to have NGN but now lacks it due to our government regulations, it's just a matter of small additional charges that will be incured and it's better than transacting with an unpopular exchange that will serve as a seriius threat to our fund.

[Pi-network314159]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

That is true, but most people are already awear about the exchange that are currently using NGN P2P, I think no body who is a trader or investor that will not know the exchange that works for him or her. Apart from binance, kucoin, okx and many more that are not currently trading naira  P2P, i believe we still have bybit and bitget and many others people use so there is no big deal. If anything should happen to this current ones people are using all bitcoin traders will be informed, from hence no body will mistakenly send to such Cex. Even though you mistakenly sent it to that Cex exchange after they have delisted fiat P2P you can send the coin via an active exchange which you will just spend less for transactions fee.

[7juju]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

So long as you are a Nigerian wey dey updated with what is happening at the crypto space you should know which exchanges that's still allowing P2P naira trading. Person no fit just stay carry him asset send for exchange wey him never trade before. I don't think it's possible to do that, because we are always updated here. This one no dey like the minimum deposit something wey person fit confirm first before sending to exchanges. Even if that one happen by mistake according to what you are saying, you can convert your asset for the exchange into usdt and withdraw it under the TON network to another exchange that's doing P2P. Ton network don't take any charges for now when you are withdrawing usdt under Ton network.

[Salahmu]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

Yeah is something that also needs to be considered because even as most of the exchanges has removed Naira from their P2P trading most people are still making the mistake of sending their funds into most of those exchanges because it was not quite long ago when a friend told me he had send some money into one of those centralized exchanges that has removed Naira from their P2P before he could even realized himself, so the fact is that since most people are always use to a particular exchange in terms of P2P their is always every chance most of them will always be making thise mistake.

However is not actually a big deal if somebody should mistakenly send his funds on the exchange that doesn't have a Naira P2P trading because you can still get back your funds, however the only thing that would happen is the time factor because if the exchange are those kind of exchanges that takes a lots of time before the arrival, it will only take much your time but in terms if gas fees I wouldn't actually consider it to bea serious challenge because in as much as some methods of withdrawal involves a lot of fees their are also other means that has a very little fee that you can even hardly noticed from your balance.

[CryptopreneurBrainboss]

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

To avoid this cost you fit use blockchain wey get zero fee/low cost as no be every time you go dey use Bitcoin for transferring (when you dey wan sell). Make I say you deposit for Binance exchange without knowing say dey dun delist Naira P2P and you been wan trade dollars to Naira. If you wan send that money to another exchange for trading, you can use other Blockchain to move your coins with less transactions fees but no forget to convert am back immediately you receive the money for the other exchange because altcoins dey extremely volatile and if you go hodl the money for the altcoin, you fit lose some wey go pain you. Person no supposed dey lose money anyhow this period.

For this industrial, everything wey you dey do supposed dey dey double checked before you proceed. Make am a habit because this industry no too get second chance make you no go dey think say you still dey were you fit call customer care to help you as you dey do for Naira transaction. Some platform get customer care sha wey fit help you but to reverse your confirmed transactions, that one dey always impossible.

[sotelorene]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

Thank you for this thread, however I know this thread doesn't concerned the high rank member that much cause I believed they are aware of it and sometimes they are usually pass information like this to the forum. This thread may look like something that has been discussed earlier but I know there are people who haven't seen or come across it which means that they can easily fall victim of this, newbie to be precise.

There's this thing that people always said " we make mistake to learn", yes it is true before you learn there must be a mistake but there are some mistake that are not worth to be made or make, though this particular issue is not that bad that is to say that you can take back what you put in there but not so fast. Above all, it is very important to be careful before going about crypto.

[Smartvirus]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

It’s often the case when we get too used to a CEX and find it to be more appealing, completely localize ourselves to that effect that, we tend to think it would always be the case as previous each time we want to trade on that CEX.
For the most part, these exchanges do send mails so long as you have your email verified and activated notifications. Your most likely to get notified of any updates as it happens but, not so many keeps a keen eye on the mails that comes pouring in their inbox which makes, having to do certain verifications like, services offered and address check and notifications a necessity to avoid errors.

[Odohu]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

I think the crackdown on the exchanges have began to wane following the realization of the government that such activities amounted to exercise in futility. We read how the federal government withdrew all their charges against Binance, all that are pointing to the fact that the exchanges have no hands in the ordeal of the Naira, rather government policies does. I was hoping that some government officials will be sacked for misleading the government but here is Nigeria where there are no consequences for rascality in government.

I don't think much has changed in the p2p market recently because we already know all the exchanges still offering such services to Nigerians. If peradventure you make a deposit to any of the exchanges that have deleted the NGN, you can simply withdraw through the TON network that have zero withdrawal fees. Although not all exchanges allow the TON network but at least the popular p2p exchanges in Naija does and I have used it in almost all of them.

[AVE5]

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

To avoid this cost you fit use blockchain wey get zero fee/low cost as no be every time you go dey use Bitcoin for transferring (when you dey wan sell). Make I say you deposit for Binance exchange without knowing say dey dun delist Naira P2P and you been wan trade dollars to Naira. If you wan send that money to another exchange for trading, you can use other Blockchain to move your coins with less transactions fees but no forget to convert am back immediately you receive the money for the other exchange because altcoins dey extremely volatile and if you go hodl the money for the altcoin, you fit lose some wey go pain you. Person no supposed dey lose money anyhow this period.

For this industrial, everything wey you dey do supposed dey dey double checked before you proceed. Make am a habit because this industry no too get second chance make you no go dey think say you still dey were you fit call customer care to help you as you dey do for Naira transaction. Some platform get customer care sha wey fit help you but to reverse your confirmed transactions, that one dey always impossible.

That's a very good alternative if a users falls on such category to had sent or received funds from a disabled naira from an exchange p2p like that. So save cost of forwarding the fund to other exchange, it's necessary to consider using a no fee blockchain to transfer the funds to other suitable exchanges and always make sure you checkmate on the next exchange before proceeding.
It's quite alarming that some beginners would think crypto blockchains is as the fiats system where mistaken transactions can be revised after the fund sender has layed complains to the authority.
Let's not be so carless like that here on crypto blockchain and avoiding this is to always cross check what ever transactions we might be up to before proceeding to finish the transaction because even if a customer care may attend to you, it'd be unlike the fiats system.

[Rruchi man]

It's not everyone that uses a centralized exchange that does so because of P2P.

I have been reading through all the comments to see if anyone would have said this and it is good that someone is thinking like me.

I still use Binance for example even though they no longer support NGN P2P. They delisted the naira from all their services, but the services they offer are still open to Nigerians as long as what you want to do there does not concern the naira.

You can fund an exchange because you also want to trade there.

[Abbatty]

Before sending funds to trade on your centralized exchange, always check at immediate time If the exchange still allows NGN (#) P2P because the way naira is been scrapped off from the P2P feature is overwhelming.

Ignorant to do this verification before sending funds  from your self-custodial wallets to the exchange wallets will always cost you excess expenses on transaction fees from an exchange to another before you could realize yourself and call it mistakes.

Good of you to come up with this thread i believe some people will learn from it. Although i am certain that when an exchange delists NGN from their p2p service a general announcement is being made and everyone with an account will be notified of their actions and if there is anyone who didn’t notice their message i believe he/she would come across the news on the internet because if a popular exchange make an important announcement it the news will go viral and almost everyone on the internet will come across it. When it happened with Binance and Kucoin the news was everywhere so making mistakes will be on the person. Besides losing a dollar or two shouldn’t be much of a problem to make a fuss about.