ByBit P2P Adds Support for Ghanaian Cedi (GHS)and Kenya Shillings (KES) on its P2P Trading Platform

ByBit has upgraded its P2P Trading platform to support more fiat currencies.

According to the cryptocurrency trading platform, they now support Ghanaian Cedi (GHS) and Kenyan shilling (KES) on the platform.

This means that you can now buy and sell crypto on ByBit P2P using either GHS or KES.

It’s now easy to buy and sell crypto on the platform with more than 170 different payment methods supported including:

• M-PESA (Vodafone)
• MTN Mobile Money, MoMo
• Chipper Cash
• International wire (SWIFT)
• Tigo Pesa / Tigo Money
• InterBank

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SEE ALSO: Central Bank Governor Warns Kenyans to Avoid P2P Crypto Transactions While Banks Risk Licenses Getting Revoked

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What is P2P Trading?

Bybit launched the P2P Trading platform to enable users to purchase and sell crypto with other users on a secure peer-to-peer platform.

Like centralized exchanges, peer-to-peer Bitcoin marketplaces use order books to match the buyers and sellers.

However, instead of acting as a middleman for the buyer and the seller, the only time they interact with traders is when there’s a dispute. This means that buyers and sellers complete the trade themselves while the banks and other payment methods do not deal with the exchange.

In 2021, in the height of bans and warnings from regulators, P2P crypto trades flourished across the continent, a situation which saw 6 African countries rise to the top of Chainalysis’ Global Crypto Adoption report.

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RECOMMENDED READING: A Quick Guide on P2P Crypto Exchanges

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