Bitget, recognized as a leading Universal Exchange (UEX) with a user base exceeding 120 million across over 150 countries, has announced a significant update to its peer-to-peer (P2P) fee structure for trading with the Nigerian Naira (NGN). This change aims to enhance liquidity and facilitate the evolving trading landscape associated with the currency.
Under the new fee structure, takers—defined as users who fill existing orders within the NGN market—will benefit from zero fees. On the other hand, advertisers, or makers, who provide liquidity to the market will incur a fee of 0.1% on both buy and sell orders in the P2P marketplace when trading in Nigerian Naira.
This adjustment is designed to simplify the trading process for users while maintaining a competitive cost framework for those offering liquidity. Bitget has indicated its commitment to continually monitor market conditions, suggesting that additional adjustments or supportive measures may be implemented in the future as necessary.
The P2P marketplace provided by Bitget allows users to buy and sell supported fiat currencies directly for cryptocurrencies among themselves, utilizing local settlement options. This feature broadens access to digital assets without relying on traditional banking methods, thus fostering greater participation in the crypto space.
Ignacio A. Franco, Chief Marketing Officer at Bitget, commented on the changes, emphasizing the company’s dedication to enhancing trading infrastructure in key regional markets. Franco stated, “This change reflects Bitget’s ongoing effort to adapt trading infrastructure… to maintain an efficient P2P trading environment tailored to local demand. Our priority is to continuously refine our marketplace to better serve local communities.”
He further elaborated on the implications of the updated fee structure, stating, “By introducing zero taker fees for NGN P2P trades while maintaining a competitive structure for makers, we aim to stimulate liquidity and make crypto access even more seamless for the currency users. We remain committed to adapting our infrastructure to evolving market dynamics and supporting sustainable growth across key fiat currencies.”
As the landscape of cryptocurrency trading continues to evolve, these changes by Bitget highlight the company’s responsiveness to user needs and market demands, potentially paving the way for increased participation in digital asset trading through enhanced trading conditions.
