With the recent ban on Binance’s P2P trading by the Nigerian government, many people in Nigeria are finding it increasingly difficult to buy and sell dollars. This has left a significant gap in the market, as Binance was one of the most popular platforms for P2P dollar transactions. However, there are several other apps and platforms that you can use to buy and sell dollars in Nigeria. In this post, we will explore some of the best alternatives to Binance for P2P dollar trading.
1. Bybit
Bybit is one of the leading cryptocurrency exchanges that has gained popularity in Nigeria. The platform offers a robust P2P trading feature, allowing users to buy and sell dollars with ease. Bybit provides a secure and user-friendly interface, making it a great alternative to Binance. The platform also supports multiple payment methods, ensuring flexibility for users.
Features:
- Secure and user-friendly platform
- Multiple payment methods
- Competitive exchange rates
- 24/7 customer support
2. Paxful
Paxful is another excellent P2P trading platform that has been widely adopted in Nigeria. It allows users to buy and sell dollars directly with each other using a variety of payment methods. Paxful has a strong reputation for security and offers a simple and intuitive interface.
Features:
- Over 300 payment methods
- Escrow service to ensure safe transactions
- Strong security measures
- Mobile app for on-the-go trading
3. LocalBitcoins
LocalBitcoins is a well-known P2P trading platform that supports a wide range of cryptocurrencies, including dollars. It connects buyers and sellers directly and allows them to negotiate terms and complete transactions securely. LocalBitcoins is particularly popular for its wide reach and user-friendly interface.
Features:
- Wide range of payment options
- Secure escrow service
- Easy-to-use platform
- Large user base
4. Remitano
Remitano is a P2P cryptocurrency exchange that offers a safe and secure platform for buying and selling dollars. The platform provides an escrow service to protect both buyers and sellers and supports multiple payment methods. Remitano is known for its user-friendly interface and efficient customer support.
Features:
- Secure escrow service
- Multiple payment options
- User-friendly interface
- Responsive customer support
5. OKX
OKX is another global cryptocurrency exchange that offers a P2P trading platform. OKX is known for its high liquidity and strong security features, making it a reliable choice for buying and selling dollars in Nigeria. The platform supports various payment methods and provides competitive rates.
Features:
- High liquidity and competitive rates
- Robust security measures
- Multiple payment options
- User-friendly interface
OKX is currently banned just like binance
6. Huobi
Huobi is another major cryptocurrency exchange that provides P2P trading services. It is known for its robust security measures and wide range of supported cryptocurrencies. Huobi’s P2P platform allows users to buy and sell dollars with ease, making it a viable alternative to Binance.
Features:
- Strong security measures
- Wide range of cryptocurrencies
- Multiple payment methods
- 24/7 customer support
7. Telegram Wallet P2P
Telegram Wallet P2P is an emerging option for P2P trading fully controlled by Telegram. This service allows users to buy and sell dollars directly within the Telegram app, providing a seamless and convenient experience. Telegram Wallet P2P offers strong security features and a simple interface, making it a practical choice for many users.
Features:
- Integrated within the Telegram app
- Secure transactions
- User-friendly interface
- Direct P2P trading
Kucoin is another great P2P app though it is currently banned by federal government, these 7 apps will do the work for you.
Conclusion
While the ban on Binance’s P2P trading in Nigeria has created challenges for many users, there are several reliable alternatives available. Bybit, Paxful, LocalBitcoins, Remitano, OkCoin, Huobi, and Telegram P2P groups are all excellent options for buying and selling dollars in Nigeria. Each platform has its unique features and benefits, so it’s important to choose the one that best suits your needs. Always ensure to prioritize security and verify the credibility of the person you are dealing with to ensure a safe and successful transaction