I will show you how to trade P2P in Nigeria in today’s post.

This post becomes important following the shutdown of Binance P2P in Nigeria.

Most traders still have their funds locked in Binance and seek ways to sell their USDT to Naira.

That is precisely what I will show you today and the platforms to use.

Let’s dive in.

5 Top Binance P2P Alternatives to Trade P2P in Nigeria

The P2P platforms available for Nigerians are:

1. Bybit
2. OKX
3. CoinW
4. Bitget
5. BingX

Find details below.

1. Bybit

Bybit is a crypto exchange that was founded in 2018 by Ben Zhou.

It offers different services, including spot trading, derivatives, NFT, and staking services, but launched its P2P option in 2022.

Bybit P2P supports these coins:

It also has more than 60 fiat and payment options available.

To trade P2P on Bybit, your account must be verified.

You can check out this post on how to verify yourself on Bybit.

Visit Bybit

2. OKX

OKX is a privately owned company founded by Star Xu in 2014.

Based in Malta, it offers a wide range of services, including Spot and Futures trading, Perpetual Swap, P2P, and more.

OKX P2P supports up to 30 payment options and the coins listed below:

As with every exchange, you must have completed your verification to be able to trade on OKX P2P.

Let’s get to the next exchange on our list.

Visit OKX

3. CoinW

CoinW is a cryptocurrency exchange that was established by Mingguo Bai in 2017.

The headquarters of the company is located in Abu Dhabi, UAE.

Some of the important locations include Dubai, Singapore, Turkey, South Korea, Japan, the Philippines, Malaysia, Australia, Vietnam, India, Nigeria, Canada, and Russia.

CoinW supports up to 20 fiat currencies and offers multiple payment methods.

Its ‘Quick Buy’ section offers up to 12 coins, including BTC, USDT, ADA, and ETH.

But for Nigerians, you can only trade USDT at the moment.

Hopefully, the Team will have more coins available for Nigerians soon.

To trade on CoinW’s P2P, you must have completed at least the primary verification and linked your phone number.

Visit CoinW

4. Bitget

Bitget is a cryptocurrency exchange that was launched in 2018 and is based in Singapore.

The exchange started up as a “Spot Exchange,” but it has expanded to include other services to its platform.

Bitget P2P launched in 2022 and supports the following coins:

It supports up to 67 fiat currencies, and payment options are available depending on the fiat currency used.

You must have completed your identity verification on the platform to trade on its P2P market.

Visit Bitget

5. BingX

BingX is a global cryptocurrency exchange offering spot, derivatives, copy trading, and wealth management.

Founded in 2018, the exchange is the top cryptocurrency exchange with 5M+ users and a range of trading services.

More than 60 fiat currencies are supported, and payment methods are available depending on the fiat in use.

For example, using NGN, you can make payments via bank transfer, Advcash, and Cash app.

But you find way more options for payment when using USD.

Visit BingX

There you have the top Binance P2P alternatives for Nigerians.

Others include:

• Remitano
• Paxful, etc.

As a bonus, I will show you how to transfer your funds from Binance to your bank account.

Keep reading.

How to Transfer Your USDT from Binance to Binance P2P Alternatives

When Binance sent the message about delisting NGN pairs, it mentioned that any NGN on its platform would be converted to USDT.

So, most persons left the NGN in their wallet to be converted to USDT.

Now, they are faced with the dilemma of how to get out their funds.

I will show you how to do that seamlessly using the Bybit exchange.

Just follow the steps I listed below:

Step 1

Go to Binance and locate the wallet you want to withdraw from.

Step 2

Click on USDT, then on ‘Withdraw.’

Step 3

Select the chain you want to withdraw with.

Step 4

Enter the amount of USDT you want to withdraw, considering the gas fees associated with the transaction.

Step 5

Click ‘Withdraw’ and provide the required details to authorize the transaction.

Step 6

Check your Bybit wallet for the funds.

You can stop at this step if you wish to hold the USDT on the Bybit platform.

But if you want to get the USDT to your bank account, continue the process thus:

Step 7

Go to Bybit’s P2P and select a buyer to sell to.

Step 8

Type in the amount you wish to sell and the payment option you will be paid with.

NB: If it is your first time using the P2P platform, you must provide your payment details and other required information.

Step 9

Wait for the buyer to send the payment and then release the coin from escrow.

Ensure that the payment details are the same as shown on the site.

And that’s all… Your funds will be sitting pretty in your bank account.

You will find practical steps on this in the video below.

Conclusion

P2P has been the order of the day since the CBN ban in 2021.

With Binance P2P banned, traders were a bit shaken, especially newbies.

Hopefully, Binance P2P will soon resolve its issue with the Nigerian government and get back on track.

But until then, you can use these top Binance P2P alternatives to meet your crypto trading needs.

Be sure to turn on your VPN while accessing these exchanges.

Or better still, download the exchange apps.

If you are new to the game, don’t worry, we’ve got you covered.

Start learning about crypto by signing up on Afibie and joining the Telegram group for perks to support your learning.

Till my next post, don’t fade… Bitcoin halving is on the way!