How to be carefree from banks not actively monitoring your p2p trades

[God Tim]

Well we all know the real story of how the government is seeing the trade of crypto in the country so more reasons there just after most exchanges well P2P is often used to by past traditional banking but it is not anonymous.
‎Manythings about people do to p2P trading their worry about bank monitoring p2p transactions, both the good Way to avoid it not holding your trades instead make your activities look easy normal ways things about people do to p2P trading their worry about bank monitoring p2p transactions, both the good Way to avoid it not holding your trades instead make your activities look easy normal ways.To add to my point using your real name on both your bank accounts and your p2p account is very important  avoid making mistake using another person or your friend account because this makes it looks suspicious and in even cause your account to be blocked. In my own very own view it is also better to use a different bank account only for your p2p trades i.e  were you keep ur main servings should be different. This keeps your personal account safe and also different form your trading transactions
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‎ A hold that all your p2p payments in One account is hard to become a way to explain your transactions if your Bank history asks many questions.Another thing to make mistakes is to avoid receiving money from too many people in a different way if not possible your trading which is a similar number of trusted someone regularly such so the large payment or any other different transaction payments can give the bank your account as. It's my view that you should be able to make savings proof of all your trades for example a receipt, chat, screenshot and time of your transaction in case that bank may ask where the money comes from you may have proof to show that it was for p2p trading.
‎Using the best most trusted p2p platform like Binance, OKY, Bybit, they have better security and verified users.
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[Charles-Tim]

Just know that anything is possible as long as you are using bank. The banks may not care but what the government will care about is the tax report, which can make them do some findings about your bank accounts if you are evading tax.

‎Using the best most trusted p2p platform like Binance, OKY, Bybit, they have better security and verified users.

Binance for P2P and you posted this on Nigerian local board. Naira is not supported on Binance P2P since 2023 or 2024.

Which exchange is OKY? Are you referring to OKX? People living in Nigeria can not have access to OKX.

I do not trust any exchange. Also you need to be very careful of the exchanges and avoid P2P scammers, do not say the exchange has good security. Another thing is that you should not hold your coins on exchanges. Move your coins to a noncustodial wallet instead.

[coinlary]

In my own very own view it is also better to use a different bank account only for your p2p trades i.e  were you keep ur main servings should be different. This keeps your personal account safe and also different form your trading transactions
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If the government suspects suspicious activity or has a reason to investigate your finances, do you really think they’ll stop at just one account? While it could be limited to one, that depends entirely on the severity of the offense.

Think about why every bank requires KYC . Your identity is bound to all of your bank accounts unless you’ve found an illegal way to bypass that. If authorities decide to freeze your assets, they have the power to notify every bank you use and freeze every single account connected to your KYC profile , so don't assume you have  a safe account somewhere  but it's  not an overall bad idea.

[BIT-BENDER]

Just know that anything is possible as long as you are using bank. The banks may not care but what the government will care about is the tax report, which can make them do some findings about your bank accounts if you are evading tax.

‎Using the best most trusted p2p platform like Binance, OKY, Bybit, they have better security and verified users.

Binance for P2P and you posted this on Nigerian local board. Naira is not supported on Binance P2P since 2023 or 2024.

Which exchange is OKY? Are you referring to OKX? People living in Nigeria can not have access to OKX.

I do not trust any exchange. Also you need to be very careful of the exchanges and avoid P2P scammers, do not say the exchange has good security. Another thing is that you should not hold your coins on exchanges. Move your coins to a noncustodial wallet instead.

And to Add Bybit is not that trusted anymore especially on the p2p, the complains here about Bybit P2P should give you all the warning that you need to know that they aren't trusted in fact on exchanges p2p do not think about trust but reason logically, trust will only make you less security conscious and vulnerable to any scam.

[Marykeller]

In my own very own view it is also better to use a different bank account only for your p2p trades i.e  were you keep ur main servings should be different. This keeps your personal account safe and also different form your trading transactions
‎

If the government suspects suspicious activity or has a reason to investigate your finances, do you really think they’ll stop at just one account? While it could be limited to one, that depends entirely on the severity of the offense.

Think about why every bank requires KYC . Your identity is bound to all of your bank accounts unless you’ve found an illegal way to bypass that. If authorities decide to freeze your assets, they have the power to notify every bank you use and freeze every single account connected to your KYC profile , so don't assume you have  a safe account somewhere  but it's  not an overall bad idea.

OP, is forgetting one thing, that the Nigerian banks has his BVN(Bank Verification Number). With his BVN, all his bank accounts will show up. They can go from there to dig further into how money comes in and goes out of his bank. Very simple as abc.

Another point OP is missing, is not by having more than one bank for p2p trade. An illicit transfer can be done in one of the accounts, and it will arise questioning. By the way, the exchange like Bybit you thought to be trusted via p2p, scammers and illicit transfers are being done there

OP, correction. Binance and OKX exchange, has cancel p2p trade for Nigerians

[Mhizlove]

The thing be say make your trade dey clean and transparent and no try say you won out smart bank and make the suspect you, when>t come to P2P traders always be disciplined and have a clean record because it very much important than pulling an string, don't for to put down your details and make sure you keep records of the transaction and make sure your daily spending is being separated from your trading life for a better explanation if incase you're being asked questions. All this is to help your activity look legitimate well organised and stress free.

For P2P it's don't a platform for trust rather its how to protect your every step you take even though the exchange do have a name it's the individual you trade with, they're the real risk so just have to be careful when trading check the trade history properly don't rush to release, go through it terms and always keep evidence

[Cryptomultiplier]

Let me make it clear that the Nigerian government is aware about crypto currency market in this country and at least have a fair estimate of users because although it isn't a legal tender, it is not an illegal currency still to hold or trade or earn and transact with.
Bitcoin can be accepted when you want to make tax payments and when you want to also make some remittances accordingly and it would b acknowledged.

The only way to safeguard yourself though as OP has stated is to use trusted exchanges and also ensure that you have proof of transactions in store Incase the case of kyc and AML policies find you you wanting for questions and scrutiny.

[Josefjix]

Just know that anything is possible as long as you are using bank. The banks may not care but what the government will care about is the tax report, which can make them do some findings about your bank accounts if you are evading tax.

‎Using the best most trusted p2p platform like Binance, OKY, Bybit, they have better security and verified users.

Binance for P2P and you posted this on Nigerian local board. Naira is not supported on Binance P2P since 2023 or 2024.

Which exchange is OKY? Are you referring to OKX? People living in Nigeria can not have access to OKX.

I do not trust any exchange. Also you need to be very careful of the exchanges and avoid P2P scammers, do not say the exchange has good security. Another thing is that you should not hold your coins on exchanges. Move your coins to a noncustodial wallet instead.

And to Add Bybit is not that trusted anymore especially on the p2p, the complains here about Bybit P2P should give you all the warning that you need to know that they aren't trusted in fact on exchanges p2p do not think about trust but reason logically, trust will only make you less security conscious and vulnerable to any scam.

Mehn, the way these buyers charges sellers are getting too much, or am I the only person talking about this or observing this, many buyers nowadays asks seller to pay for these charges by incured on them by Bybit by deducting it from sellers amount, if you didn't allow them deduct they they instruct you to cancel or order, or they cancel it and move on. Like it's getting crazy.

Is that reason why they saying centralized exchange can't be trusted that much that they can do and undo at any given point in time.?

[Agbamoni]

And to Add Bybit is not that trusted anymore especially on the p2p, the complains here about Bybit P2P should give you all the warning that you need to know that they aren't trusted in fact on exchanges p2p do not think about trust but reason logically, trust will only make you less security conscious and vulnerable to any scam.

Bybit is still a trusted centralized exchange. I have been using Bybit for years now, irrespective of the fraudulent act, if you know how to report them and what to do in such a situation, then you dont have a problem. Aside from the P2P issues, have you experienced anything else in Bybit?

You need to understand that no exchange that supports P2P is free from scammers. They are everywhere. 

[Nathrixxx]

If we are not being intentional about how to prevent the banks or any centralized authority to monitor our P2P trade, 10 women not know what is at risk for us to do in any step we are taking, using a centralized platform already have most of our information that are personal to us and we have to be careful in this regards to ensure that we consider a decentralized exchange at first, then we can go further in learning how to be private with our Bitcoin by having a broader knowledge of bitcoin security and privacy in addition to anything we do.

[CryptoHeadlineNews]

In my own very own view it is also better to use a different bank account only for your p2p trades i.e  were you keep ur main servings should be different. This keeps your personal account safe and also different form your trading transactions

So do you think that will stop government from monitoring your transactions if they want to? Because inasmuch as your BVN is linked to all your bank accounts, these government can conveniently see all the funds you have in your bank accounts, and confiscate them if they wants to. So it's rather just best you leave the majority of your asset in Bitcoin where you have full control over it, and then you keep on selling them small small whenever you have need for fiat.
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It's my view that you should be able to make savings proof of all your trades for example a receipt, chat, screenshot and time of your transaction in case that bank may ask where the money comes from you may have proof to show that it was for p2p trading.
‎Using the best most trusted p2p platform like Binance, OKY, Bybit, they have better security and verified users.

That is not necessary, because infact the transaction will definitely be showing that it's coming from one account to another, and for that reason, you literally don't need to mention p2p into the discussion, because some wicked bankers might just capitalize on it as been fraud  the moment you just mention crypto or Bitcoin. So it's just best to say it was a business transaction.

[Obim34]

Bybit is still a trusted centralized exchange. I have been using Bybit for years now, irrespective of the fraudulent act, if you know how to report them and what to do in such a situation, then you dont have a problem. Aside from the P2P issues, have you experienced anything else in Bybit?

You need to understand that no exchange that supports P2P is free from scammers. They are everywhere.  

Don't make it sound like Bybit are the ones scamming or allowing scammers operate with their platform, the scammers are your fellow Nigerians, who prefer to satisfy their greed over following platform rules. You cannot hold Bybit if you get scammed, many victims don't even care to report these scammers.

Exchanges gives you access between you and vendor, it is a must for you to protect your funds from scammers.

[Sammysmart001]

Allot of people thinks with the CBN Lift u can freely do anything but it more than that because our banks are more vigilant now. Especially with the new SEC rule. Matching of Names is very important role to check on in other to avoid tag from the bank.

My suggestion which I have is that you can do well by asking the buyer for a reference code from the exchange instead of writing somthing else on the description. Because maybe writing Crypto or Bitcoin is a reg flag tag, that a great suspect from the bank.

please I would love to ask if in anyway one received a call from bank asking about a specific P2P transfer, how should I go about that

[AVE5]

In my own very own view it is also better to use a different bank account only for your p2p trades i.e  were you keep ur main servings should be different. This keeps your personal account safe and also different form your trading transactions
‎

If the government suspects suspicious activity or has a reason to investigate your finances, do you really think they’ll stop at just one account? While it could be limited to one, that depends entirely on the severity of the offense.

Think about why every bank requires KYC . Your identity is bound to all of your bank accounts unless you’ve found an illegal way to bypass that. If authorities decide to freeze your assets, they have the power to notify every bank you use and freeze every single account connected to your KYC profile , so don't assume you have  a safe account somewhere  but it's  not an overall bad idea.

At coinlary you're very much correct, the traditional banking system these days requires very high Kyc verifications and the more you're creating more bank accounts doesn't mean you can't get tracked or regulated by the government because every of the accounts will be linked together through the Kyc.
Even the mobile banking apps isn't save due to the facial Kyc verification requirements. So which ever way you owns the account, whether you boycott the Kyc or not, as long you're within the centralized territories, when you make a crypto p2p transaction there, the authorities will ever have the access control over your funds in the account.