The Nigerian crypto enthusiasts are living in fear as their government has taken a step further to deal with citizens whose accounts are involved in crypto deals. Just in case you missed my last blog post, kindly click here to read on the safest way to protect your crypto from the Nigerian governments.

You see, the governments are trying every possible means to fetch out users who are still transacting in crypto, and the hunt seems not to end anytime soon. The very first step they took was to make rules which forced crypto exchanges to close down the deposit & withdrawal channel between Naira and crypto stable coins. The crypto lovers living in Nigeria were sad about that silly move. The only hope left was to use p2p.

Peer-to-peer was the only hope for Nigerians when it’s time to exchange crypto to Naira and vice versa. However, as a Nigerian, it has its own disadvantage, for example; end parties don’t know themselves, so a government spy could be transacting with you 😯

Even when the number one pros of p2p is the ability to transact with an unknown third party, it has also been a means to expose Nigerians who are still transacting in crypto. How?

How?

Since the p2p deals are between two unknown parties, the exchange involved stands as an escrow. However, once a deal is done, the government can't detect if a local naira transaction between two parties was a crypto deal or not, except if one of the end-users used a memo including any word associated with crypto. This is why I added an auto message to my p2p order.

This has been working perfectly fine for me. But due to the recent moves by the government freezing young Nigerians bank accounts, I have taken a further step to protect myself.

The government have got a silly idea 

How were they able to detect that a user is transacting with crypto?

Truth be told, there isn't a way to detect it. But I believe they've got a few Nigerians acting as spies on the p2p platformS. What these spies do is go on a p2p exchange to initiate a deal, and when sending the funds locally, they'll end up including a crypto term, ignoring the auto message.

Filter who you deal with

The fear to exchange crypto to naira rose about a month ago after they froze some users' accounts. But all thanks to the p2p exchange that I use. I was able to filter out who I deal with In the settings displayed below.

By default, all users who make use of p2p must be verified while the rest options are left for each user to decide how they filter their trade. For me, I have chosen not to deal with users who are less than 3 months old on the platform and who don't hold more than 0.005btc in their wallet.

So far soo good, this technique has worked pretty well. Although, it's not a perfect one because the filter could include the spies if they meet the requirements.

As you can see from the screenshot above, I have set the number of days to 90 (3 months). I would have loved to set it to 5 instead of 3 months but I can't, because that's the maximum number users are allowed to set.

For the number of holdings, I don't think there are limits on that. I have seen trades that require a holding of 1btc.

My only concern is that my filter settings won't favor new users who aren't in any way working for the government. But it is what it is. The governments can only try to stop but they can’t ever kill what they didn’t create.

Kindly share this with anyone you think might need it. Thanks for stopping by. xxx

This post was initially posted on my hive account. https://hive.blog/hive-167922/@rufans/the-government-can-only-try-to-stop-it-but-they-can-never-kill-what-they-didnt-create-my-p2p-tips