- Why Sell Ethereum via P2P in Lagos?
- Step 1: Choose a Reliable P2P Platform
- Step 2: Create and Verify Your Account
- Step 3: List Your Ethereum for Sale
- Step 4: Negotiate and Confirm the Trade
- Step 5: Release Ethereum from Escrow
- Top Safety Tips for P2P Ethereum Sales
- Best Payment Methods in Lagos
- FAQ: Selling Ethereum P2P in Lagos
- Is P2P Ethereum trading legal in Lagos?
- How long does a P2P trade take?
- What fees apply?
- How to avoid scams?
- Tax implications?
Why Sell Ethereum via P2P in Lagos?
Peer-to-peer (P2P) trading has become the preferred method for selling Ethereum in Lagos due to its flexibility, competitive rates, and direct buyer-seller interactions. Unlike centralized exchanges, P2P platforms let you set your price, choose payment methods like bank transfers or cash deposits, and avoid lengthy withdrawal processes.
Step 1: Choose a Reliable P2P Platform
- Binance P2P: Most popular in Nigeria with escrow protection
- Paxful: Supports diverse payment options
- LocalBitcoins (supports Ethereum): Established reputation
- Remitano: User-friendly interface
Step 2: Create and Verify Your Account
Sign up with your email/phone number and complete KYC verification. Upload a government-issued ID and selfie to increase trust and transaction limits.
Step 3: List Your Ethereum for Sale
- Specify amount in ETH or Naira
- Set your preferred price (check market rates)
- Select payment methods: Bank transfer, cash deposit, mobile money
- Add clear terms (e.g., “Payment must be completed within 20 minutes”)
Step 4: Negotiate and Confirm the Trade
When a buyer contacts you, agree on terms via the platform’s chat. Never share personal contact details. Once terms are set, mark the trade as “Paid” only after confirming money is in your account.
Step 5: Release Ethereum from Escrow
After verifying payment, release the ETH to the buyer. Funds will automatically transfer from escrow. Rate the buyer to build your reputation.
Top Safety Tips for P2P Ethereum Sales
- Use escrow services – never trade directly
- Record video proof during cash transactions
- Avoid buyers asking for off-platform communication
- Check buyer’s trade history and ratings
- Meet in public places for cash deals
Best Payment Methods in Lagos
- Bank Transfer: Most common (GTB, Zenith, Access)
- Cash Deposit: Instant but riskier
- Mobile Money: Opay, Palmpay
- USDT: For cross-border trades
FAQ: Selling Ethereum P2P in Lagos
Is P2P Ethereum trading legal in Lagos?
Yes, but ensure you comply with CBN regulations. Avoid cash transactions above ₦5 million without documentation.
How long does a P2P trade take?
Typically 10-30 minutes if both parties cooperate.
What fees apply?
Most platforms charge 0.1%-1% for sellers. Bank transfers may have additional charges.
How to avoid scams?
Reject screenshot “proof” of payment. Always check your bank app for actual deposits.
Tax implications?
Declare large transactions to FIRS. Keep records of trades for accountability.
