Homemade trades: peer-to-peer trades via Whatsapp
Whatsapp groups remain one of the easiest and most common ways to buy and sell and ether across Nigeria. Users typically invite their friends and inner circle to the group, while the group admin serves as the “escrow service” for the trade, charging a small commission, paid for by the crypto buyer. Groups usually have about 150-200 members, with /Naira being the most traded pair. And yes, says Israel, it is possible to be scammed in these groups, although it usually happens in groups without a group admin serving as escrow.
is another popular peer-to-peer service.
Remitano is billed as an easy peer-to-peer solution, serving as escrow service, KYC, and even creating for you. Users can create personal ads for selling crypto, and sellers’ coins are locked up until a payment is completed via fiat bank transfer. The is then released to buyer, with no access ever being given to their or private keys.
is another popular peer-to-peer service, with weekly volumes between 1–1.5 billion Naira.
is also available in Nigeria, allowing Nigerians to buy and sell crypto with the Naira. With no fees taken on trades by Dether, its geolocated seller feature, Dether for Shops map showing people where they can spend their crypto, and variety of ERC20 available for trade, including stablecoins, Dether represents a growing option for Nigerian users to use crypto.
Published at Mon, 27 May 2019 08:03:26 +0000
