With over 28 million crypto users trading in Nigeria in 2025, it is no wonder that most people want to learn more about crypto and how to use P2P exchange platforms like Presto HQ, Binance, Bybit, and others to trade as beginners and earn a profit through crypto trading. Today we will be discussing;
- The Key Factors You Should Consider In Choosing A P2P Exchange
- Why P2P Crypto Trading is Booming in Nigeria
- The Best P2P Exchanges To Trade Within Nigeria
- How To Get Started With Crypto Trading And Make a Profit
If you are unfamiliar with cryptocurrencies and how things work in general. Please read: The Role of Cryptocurrency in Financial Inclusion
What Is A P2P Crypto Exchange Platform?
Peer-to-peer or P2P exchange platforms, as they are fondly called, serve as intermediaries between crypto traders, providing an opportunity for them to interact with one another without the interference and stringent regulations of a traditional exchange platform like banks.
It provides an opportunity for users to trade their crypto. These marketplaces let you buy and sell crypto directly with other users, paying in Naira gift cards or other cryptocurrencies without going through the stress associated with a traditional exchange platform.
It also offers an opportunity to sell coins like Bitcoin, USDT, and USDC for Naira instantly. Users get an opportunity to safeguard themselves from inflation by keeping their funds in crypto in case the naira crashes.
In essence, you can see P2P platforms as a Jiji or Chowdeck for crypto traders, where you don’t need to go through stress to convert your bitcoin (BTC) to naira instantly.
If you are worried about scams, there’s also an option for you to trade escrow, which means the P2P platform can wait for you to finish your transactions before parting with your crypto.
Why Use P2P Exchanges For Crypto Trading in Nigeria
In 2021, the Central Bank of Nigeria (CBN) put a ban on crypto trading for traditional exchanges like banks and even fined some banks which seemed to continue after the ban millions of naira.
In retrospect, Nigerians appeared to have no hope, but the emergence of P2P platforms such as Binance P2P proved to be a saviour. Here are some advantages P2P crypto exchange platforms provide to users:
- Guaranteed user safety using two-factor authentication methods and escrow payments for crypto transactions
- Right to privacy, as traders can conduct transactions anonymously
- Liquid Markets mean that you can trade on the spot without waiting for a seller/buyer to come by
- Control over the products you are trading
Key Factors To Consider In Choosing a P2P Exchange
Before diving into o
ur list, remember these criteria when picking a P2P platform:
Security
Look for platforms with strong verification methods like KYC (Know Your Customer), escrow, and account protection. Remember ‘safety first’.
Ease of Use
A clean, user-friendly interface is a must. Beginners benefit from platforms with simple apps and clear workflows (few button presses to buy/sell).
Payment Methods
Choose exchanges that accept your preferred payment. For example, with Presto HQ, you can make transfers directly to your local banks, like GTBank, Zenith Bank, and so on. And for microfinance banks like Opay, you get your money from trading with Presto within minutes. If you intend to trade your gift cards after your crypto transactions, you can do so with Presto HQ.
Diverse Cryptocurrencies To Trade
Be certain the platform you intend to trade with lists the coins you want (BTC, ETH, USDT, etc.). Some P2P sites (like Presto HQ) even support gift cards.
Customer Support
It’s important to prioritise a platform that answers you promptly, whether through chat or email, just in case a dispute arises. You want to be sure your funds are safe and that it’s not a platform that ghosts you.
Reputation
Read reviews. The best place for this is on your iOS app or your Play Store app for Android phones. For example, Presto HQ is a platform that has been around for three years with over a million dollars in assets traded with 4.4 out of 5 stars.
Best P2P Crypto Exchange Platforms to Trade in 2025
Presto HQ
Presto HQ is one of the best platforms to trade cryptocurrency and gift cards in Nigeria today. With up to 50+ gift cards available and multiple coins to trade for Naira, like Ethereum and Bitcoin. You also get to trade your gift cards for Naira at competitive rates. Presto HQ has gift cards from 25+ countries available for you to trade. The most intriguing part about trading your digital assets with Presto is that you can trade as low as $5 for gift cards and $10 for coins. You can also withdraw as low as ₦2000 on the Presto HQ app.
Pros
- Wide variety of coins to trade, including Bitcoin (BTC), USDT, and other altcoins.
- Fast and reliable to use
- Supports payments via Nigerian bank transfers (GTBank, Access, etc.) and even gift cards.
- Competitive fees are very low on many trades.
- Instant response from the 24/7 online customer support.
- Beginner-friendly app with a simple user interface.
- Free referral bonus for users.
You can download the Presto app on iOS or Android.
Binance P2P
Binance is one of the world’s largest crypto exchanges, and its P2P marketplace lets Nigerians trade naira directly on the platform. After the CBN restrictions on cryptocurrencies in 2021, Binance offered an opportunity for P2P deposits and withdrawals to Naira wallets to be made in Nigeria. It was especially a blessing.
Pros
- Multi-Bank payment system, which means that you can use nearly any major bank or payment app on Binance’s network.
- KYC (Know Your Customer) security protocols to safeguard customers
- Escrow payment to ensure no crypto leaves the account until the transaction is completed
- Great Reputation and fast trades
Cons
- Expensive Lawsuits Against Binance by the Nigerian Government
- Allegations of fraud and money laundering
- Stringent regulatory measures imposed by the Federal Government
ByBit P2P
While the Bybit app is famously known for derivatives trading (assets derived from other financial assets like stocks and bonds), its P2P service is growing fast. Bybit’s P2P marketplace now offers zero-fee trading for the spot, which is appealing. It also supports major cryptocurrencies and NGN. Bybit’s app is modern and beginner-friendly. On Bybit P2P, transactions in BTC/USDT/ETH are tightly escrowed, and you can connect your Nigerian bank accounts.
Pros
- Mobile-Friendly App to Trade
- Low Fees
Cons
- A 1.5 billion dollar hacking scandal, which raises concerns about their trading security
- Newer Trading Platform
KuCoin P2P
KuCoin is a global exchange known for its vast coin selection. As a P2P exchange platform service, KuCoin lets Nigerians trade a diverse range of cryptocurrencies via local payment methods. On KuCoin P2P, you’ll find BTC, ETH, USDT, and many altcoins offered directly by sellers.
Pros
- Coin Varieties to Trade
- Holds Escrow just like other platforms
Cons
- To withdraw, you must complete full KuCoin KYC (which can be slow).
- The mobile app is not beginner-friendly
- Best suited for experienced traders
Remitano
Remitano is very popular in Nigeria thanks to its user-friendly site and strong focus on security. It provides an escrowed P2P platform connecting buyers and sellers for coins like BTC, ETH, USDT, LTC, XRP, BCH, and more. Remitano’s key selling point is its fast, transparent escrow. Remitano also supports payment in Naira and runs promotions like referral bonuses.
Pros
- Simplicity
- Speedy Escrow releases
Cons
- Fewer coin options to trade.
- Restricts users to the Remitano internal wallet
Conclusion
In this article, we have discussed the top exchanges you can use to trade fast and safely while receiving payments almost instantly. Nigeria’s P2P crypto trading exchanges are a sure way for you to trade with no restrictions and safeguard your assets digitally. It offers a fast, affordable, and flexible opportunity for traders.
So, whether you are a beginner about to start your crypto and gift card trading journey or you just need an opportunity to safeguard your assets, the scene is thriving, giving you an avenue to pitch your tent and make the most of it. Don’t forget to prioritise a safe, user-friendly, and supportive platform to get an overall positive experience from trading cryptocurrencies.
