A good P2P service

[Curious T]

So, there is no service in Nigeria that is purely a P2P service for Bitcoin? No single tech company in Nigeria can create a site or app where P2P works exactly like Bybit or Binance P2P system, but without the scam attempts? It doesn't look too complicated. All they have to do is make sure the rate sellers put in their ad is the same rate they will sell. No negotiation of the price whatsoever.

I am not talking about an exchange; I'm talking about a service that connects buyers with sellers and acts as an escrow. It can be a KYC service. A lot of the Nigerian-owned exchanges turn out to be scammers like Patricia, or they just go out of business. Then there is the issue of poor services and customer support. The customer support of most Nigerian tech companies is so poor, especially for average customers, and that is a problem.
So, my question is, is there no Nigerian tech company that can create a P2P exchange service where everything works smoothly, they don't turn out to be a scam and offer top-level business and customer support?

[ZeroVinsonN]

There is the issue of poor reception, customer will most likely always prefer older more trusted platforms over new one especially when all that new one does is p2p, the offer at first might end up looking too good to be true, we already have a lot of Nigerian exchange but most of us till prefer to deal with the non Nigerian ones.
The problem is that Nigerian don't trust easy anymore and for good reasons too, we will never know how things will play out until someone or a group actually design such an interphase, there is also the issue of charges, moving crypto around can tend to be expensive and there are so many people who will ignore good rates and better security just because they have to pay more to get it.

[Jubilee58]

As at now, i think there is not Nigeria tech  company that is offering P2P transaction.
Having P2P platforms in Nigeria is one thing, another thing is to ensure legitimacy and trust. However, as Nigerians anticipate for legitimate and trusted P2P platform in Nigeria, the federal government of Nigeria should do Nigerian investors the favour and reverse Binance P2P transaction. Binance and bybit exchange have been major platforms where Nigerians mostly execute their P2P transactions. These platforms may not be completely without errors due to scammers activities, they they still have policies to default people who violate their transaction policies, and they are strict on that aspect. To the sellers, you also need to deploy the right measures to avoid being scammed, which means you have to ensure you have received your money to your bank account before releasing your cryptocurrency.

[Karl_3000]

There are few of the exchanges, but they are not just common. The most popular among them that I know is https://roqqu.com/ which was founded by a Nigerian. But Nigerians prefer to use foreign exchange most because of their customers good satisfaction while using the exchanges.

[Dr.Bitcoin_Strange]

There's no trustworthy and popular p2p crypto platform that I know to be owned by a Nigerian, although I'm beginning to see new platforms that are being advertised on Facebook, TikTok  and X, they claim to be trusted crypto swap platform which allows you to sell all kinds of crypto and bitcoin to fiat. I didn't capture all the names of these platforms that I've seen their ads on social media but the one I remember now is Obiex.finance,  I have not used it and I don't intend to use it unless situation changes and demands me to use it but for now, I have not used it and I don't know how reputable they are.

[Agbamoni]

In addition to what ZeroVinsonN said, if the platform is not an exhange people will hardly trust them, and based on how othre site like Patricia have destroyed the reputation of a single exchange business, it will be difficult for people to trust their services. It's not like the no Nigerian company can solve that problem, hte problem P2P does not have to do with raising of price higher than their ads or demanding of extra money, it also has to do with merchants refusing to pay claiming they have paid.

[SatoPrincess]

In addition to what ZeroVinsonN said, if the platform is not an exhange people will hardly trust them, and based on how othre site like Patricia have destroyed the reputation of a single exchange business, it will be difficult for people to trust their services. It's not like the no Nigerian company can solve that problem, hte problem P2P does not have to do with raising of price higher than their ads or demanding of extra money, it also has to do with merchants refusing to pay claiming they have paid.

That’s not true. People would trust a p2p platform as long as they have proved to be trustworthy. For example, I have used Remitano many times and they aren’t an exchange. Roqqu is an example of a Nigerian owned p2p platform that has been doing quite well but I don’t use them often because their fees are kinda high.

[Pablo-wood]

The problem is that taxation and regulation laws are choking for blockchain projects in Nigeria. The tax returns for an exchange like Bybit or Binance will discourage an average developer who might think of this idea. I don't want to mention the case of CAC registration and maintenance. Building this is not a challenge for the techiest in Nigeria the only limitation is just this few factors i mentioned earlier and we all know too well the effects regular businesses, that alone should give us a clue of how exchange service will be threated if one gets created

[Agbamoni]

That’s not true. People would trust a p2p platform as long as they have proved to be trustworthy. For example, I have used Remitano many times and they aren’t an exchange. Roqqu is an example of a Nigerian owned p2p platform that has been doing quite well but I don’t use them often because their fees are kinda high.

Well, I am speaking out of experience in the world of digital products. Last two years, I was part of a team that was developing a P2P platform for a client, my focus was on user interface and user design. After 3 months of designing the prototype, the development stage was paused by the client, and the reason was because of building trust in Nigeria. He said he made his own survey, and he ended up with the conclusion that a P2P platform with no other features, similar to an exchange or trading bot, might seem fishy. He had other reasons, but the developers knew about the rest, as I barely had a direct conversation with him for long.

[Orpichukwu]

In addition to what ZeroVinsonN said, if the platform is not an exhange people will hardly trust them, and based on how othre site like Patricia have destroyed the reputation of a single exchange business, it will be difficult for people to trust their services. It's not like the no Nigerian company can solve that problem, hte problem P2P does not have to do with raising of price higher than their ads or demanding of extra money, it also has to do with merchants refusing to pay claiming they have paid.

You can still get it done; just know the right way. If the right service with the best security can be built and you solve the customer support issue, let the company be fully registered and let it be owned by someone who is not known to be some kind of scammer in the country. You just have to promote your good service; over time you will see the country people trusting it again.

If a Ponzi scheme as big as MMM came and scammed Nigerians and still Nigerians can still easily be persuaded to do another Ponzi, then a legitimate business has a way to also build trust, not just to use a few scam platforms in the same line of business as an excuse.

[Hewlet]

There are few of the exchanges, but they are not just common. The most popular among them that I know is https://roqqu.com/ which was founded by a Nigerian. But Nigerians prefer to use foreign exchange most because of their customers good satisfaction while using the exchanges.

We have trust issues when dealing with our people here especially considering that crypto and bitcoin does not work like the banking system where we can easily get to anyone that is involved in any form of scam through the medium you are considering. Even when we are dealing with ourselves on most p2p platform, we still see an high level on lack of transparency how much more when we escrow everything to a single person? B lord seems to be vocal about being involved in a thing as that but still, i prefer working with the regular eexchange like bitget than using those king of merchant.

[SatoPrincess]

That’s not true. People would trust a p2p platform as long as they have proved to be trustworthy. For example, I have used Remitano many times and they aren’t an exchange. Roqqu is an example of a Nigerian owned p2p platform that has been doing quite well but I don’t use them often because their fees are kinda high.

Well, I am speaking out of experience in the world of digital products. Last two years, I was part of a team that was developing a P2P platform for a client, my focus was on user interface and user design. After 3 months of designing the prototype, the development stage was paused by the client, and the reason was because of building trust in Nigeria. He said he made his own survey, and he ended up with the conclusion that a P2P platform with no other features, similar to an exchange or trading bot, might seem fishy. He had other reasons, but the developers knew about the rest, as I barely had a direct conversation with him for long.

That na just one case, and you no know the whole gist why them shut down the project. E fit be because of government regulations and pushbacks. For country way bitcoin be like household name, people go surely patronise your service once you don dey do better PR and don build trust over time. IMO since binance comot, this na the best time for them to resume their project. 

[Mpamaegbu]

There are few of the exchanges, but they are not just common. The most popular among them that I know is https: //roqqu.com/ which was founded by a Nigerian.

My experience wit dat roqqu (d name sef resemble wetin e sound like 🧐) a few years ago nor be smiling something oh. Na for wan telegram P2P group wey I dey dat time. I was d seller. I sent Bitcoin buyer needed. Buyer sey e nor receive am. I checked it onchain, d BTC enta buyer wallet but comot almost immediately. I begin accuse buyer sey na im move am. Buyer sey nor be am. Na so I alert admin wey also be escrow bc na im suppose release my money. Admin checked d address wey buyer sent and e corresponded wit wetin I talk. Na so admin suggested to buyer make e contact wallet support of Roqqu to know wetin happen. Na so Roqqu open up sey na dem move am. Sey wan thing do wan thing, as moto take jam breeze and all dat. Dis transaction lingered for more than a day oh.

Anyway, Roqqu released d coin back and I got paid. Since then, anything about dem nor concern me.  

[UpTober]

A lot of Nigerians are directly involved with Bitcoin and Bitcointalk forums so if there was a Nigerian P2P medium then maybe Nigerians would have accepted it but yes the important thing here is security and trust. Currently Nigerians are doing their P2P transactions through some known exchanges and they are trusted so it is quite difficult for a new platform to actually make that platform trusted and known to Nigerians. However, once trust is achieved I think the bonding that exists among Nigerians they will definitely use it through local P2P transactions to do P2P transactions.

[Felicity_Tide]

~snip

Anyway, Roqqu released d coin back and I got paid. Since then, anything about dem nor concern me.  

In as much as I understand what the OP is trying to ask, and of course, there are companies or even Individuals that can set up these things, but setting up platforms like this is never enough. Considering the things Involve, there needs to be some level of reputation and quality standards, in order to remain relevant. I myself have also heard about this same roqqu, but I can't even validate it's level of reliability and integrity from 2-3 persons, because it is barely used compared to the exchanges that we have. So, to the OP, I think it is possible to have such services, but staying relevant for a longer period is going to be a problem.

[Solodoski]

A lot of Nigerians are directly involved with Bitcoin and Bitcointalk forums so if there was a Nigerian P2P medium then maybe Nigerians would have accepted it but yes the important thing here is security and trust. Currently Nigerians are doing their P2P transactions through some known exchanges and they are trusted so it is quite difficult for a new platform to actually make that platform trusted and known to Nigerians. However, once trust is achieved I think the bonding that exists among Nigerians they will definitely use it through local P2P transactions to do P2P transactions.

Security is the most important thing. If there is security there will be trust, the security builds the trust with time. This is to show how bad p2p on centralized exchanges has been unreliable over the years. Lots of scammers everywhere. Meanwhile in the past it wasn't so. With the way things are going, it will be impossible to see a p2p platform that will be scam free. Scams are everywhere, and greed is everywhere. What the exchanges can do is to protect you from being scammed by sending notices, but they cant control the greed of humans no matter what.

[AYOBA]

Binance and bybit exchange have been major platforms where Nigerians mostly execute their P2P transactions. These platforms may not be completely without errors due to scammers activities, they they still have policies to default people who violate their transaction policies, and they are strict on that aspect. To the sellers, you also need to deploy the right measures to avoid being scammed, which means you have to ensure you have received your money to your bank account before releasing your cryptocurrency.

It’s a good idea if the Nigerian can involve themselves into the p2p, but the most difficult thing that is there is how they can works well in their platforms to avoid being scam. Because this days the way all those vendors are treating peoples is to say is kind of people that don’t know anything about the cryptocurrency, that’s who they will scams a person and work away that’s why is we should be very careful with the kind of people vendors we trade with most of them are fake p2p services.

[Rgram]

I am not talking about an exchange; I'm talking about a service that connects buyers with sellers and acts as an escrow. It can be a KYC service. A lot of the Nigerian-owned exchanges turn out to be scammers like Patricia, or they just go out of business. Then there is the issue of poor services and customer support. The customer support of most Nigerian tech companies is so poor, especially for average customers, and that is a problem.
So, my question is, is there no Nigerian tech company that can create a P2P exchange service where everything works smoothly, they don't turn out to be a scam and offer top-level business and customer support?

It’s good to have you note that, a good number of them do exist and they keep popping out of the blue as often as you find them on social media with influencers being very loud about them. What is there to know is that, they tend to have an issue as you’ve mentioned and that’ll be, customer service issues and how they tend to manage these funds and not turn out to be accused of scam in the end.
Most of these service might come up with the best intent, they feel they have their plans all figured out and the low patronage can make them tamper the funds or their elaborate bonus distribution can result in mismanagement of funds and just like that, they run out of service.