![images (54).jpeg](https://files.peakd.com/file/peakd-hive/ebingo/23u5vMVmtK19LBReWSZZUZxAH7bFLL1VCT3KZaRz3D52MiaRx6jujF63EwkivdPjxw59x.jpeg)


It has officially become a thing in Nigeria now, where we trade with fear of getting caught by the government.

Just a few days back I was discussing with some friends and she mentioned how N100 million influx from Binance came into an account and the account was frozen.

I was talking to a new hive user who was inquiring if I had gotten caught before trading hive and I realised it had become so common at least as a conversation.

Last week I read a post by @nonsowrites  where he discussed this same topic and it got me a bit worried.

This morning I plan on trading P2P on Binance and here are some precautions I plan on taking.

# 1. Trade low volumes
It seems as though they only get suspicious of the amount you're moving through your account if you are trading in tens of thousands of dollars. N100 million is almost $175k. If you move high volumes like that it would draw attention to your account.

Even if you have to you could try reducing it into chunks so it's significantly less...but that would mean about 100 trades to get the feds off your case...but how we go do?

# 2. Choose to trade only with accounts with high trade history.
If you have to trade, no matter the volume find accounts that have traded many times. Say in the hundreds, you are less likely to be meeting a fraudster working for the government.

When I read the post by @nonsowrites felt I would be trading to the '80s or '90s but with the raised awareness of just how common it is....my advice is to find more experienced traders. They are less likely to be fake.

# 3. Don't use any crypto-related memo
I'm guilty of this. Before the whole crypto Nigeria problem, I use to send people money with a memo saying "for crypto".

When this whole thing started becoming serious I started noticing people warning on Binance about sending that particular memo.

It doesn't matter the volume you're trading, adding that memo will put you and the person you are trading with in trouble.

# Any other thing you think is important?
Just add it to the comment so anyone reading this can be well informed and also I'll add it to my list too.

# What should be done?
I feel Binance should look into this matter closely because it doesn't make any sense that they stopped trading with banks and now they are fishing out people who are using P2P.

Then again Binance kept the trading history visible but I don't feel that is enough. Just the same way Twitter is looking to protect its users in Nigeria, Binance should be critical about Nigerians on Binance...unless they are of the impression that we are breaking laws.

# Keep on having an amazing week!!
As always I'm going to keep posting till I can't type.

**Peace!!**

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@ebingo/how-to-get-caught-using-p2p-in-nigeria)