Bitget, the Universal Exchange (UEX) that serves over 120 million users across more than 150 countries and regions, has announced significant changes to its peer-to-peer (P2P) fee structure for the Nigerian Naira (NGN) Fiat Pair. This update aims to enhance liquidity and support the dynamic trading activities associated with the currency.
The revised fee structure introduces a zero-fee policy for takers, defined as users who fulfill existing orders on the NGN market. In contrast, makers, who provide liquidity, will face a charge of 0.1% on both buy and sell orders specifically for trades involving the Nigerian Naira in Bitget’s P2P marketplace.
The intention behind these changes is to simplify the trading experience for users while ensuring that those contributing liquidity are charged a fair fee. Bitget expressed its commitment to continually monitor market conditions, indicating that further refinements or supportive measures may be introduced as necessary.
The P2P marketplace facilitates direct transactions where users can buy and sell supported fiat currencies for cryptocurrencies without the need for traditional banking systems. This approach broadens access to digital assets and aligns with the growing demand for alternative trading solutions.
Ignacio A. Franco, Chief Marketing Officer at Bitget, emphasized that the changes reflect the exchange’s dedication to adapting its trading infrastructure to key regional markets. He noted that maintaining an efficient P2P trading environment tailored to local needs remains a priority. Franco stated, “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 currency users.”
He further reinforced the company’s commitment to respond to evolving market dynamics, supporting sustainable growth across significant fiat currencies. This initiative marks a pivotal step in strengthening Bitget’s position in the P2P trading space while enhancing the overall trading experience for its users in Nigeria.
