P2P Marketplace · Buyer Guide

How to convert crypto to Naira — safely

Sell USDC or USDT and receive Nigerian Naira straight to your bank. Your crypto never leaves a smart contract until you confirm you received your money. Here's exactly how it works.

TL;DR

You sell USDC or USDT. A verified vendor sends Naira straight to your bank account.
Your crypto is locked in a smart contract the entire time — the vendor cannot touch it until you confirm you received your money.
PayMe cannot take your funds either. Moving money in any direction requires 2 of 3 parties to agree — buyer, vendor, and platform. One party alone can do nothing.
Scam-proof policy: any fraudulent vendor is permanently removed (excommunicated) from PayMe P2P forever.
If the vendor doesn't pay, open a dispute. The escrow freezes and the auto-release timer is paused. An admin reviews both sides. You get your crypto back if they can't prove they paid.
After the trade, rate your vendor — it directly determines whether they stay on the platform.
The whole thing takes minutes. The AI agent walks you through every step in plain English — or Pidgin.

THE 2-OF-3 ESCROW — WHY YOUR FUNDS ARE SAFE

This is the most important thing to understand. When you start a trade, your crypto is locked in a smart contract on a public blockchain. That contract operates on a simple rule:

Any movement of funds requires two out of three parties to agree.
The three parties are: you (the buyer) · the vendor · the PayMe platform.

Here is what that means in every possible scenario:

Situation	What happens
Trade goes normally	You confirm receipt + PayMe co-signs → vendor gets paid
You don't confirm within 2 hours	Escrow auto-releases to the vendor. If there's a problem, open a dispute before the 2-hour window closes to pause the release.
You open a dispute	Escrow freezes. Nobody can touch the funds until resolved.
Dispute resolved for you	PayMe + you vote refund → your crypto comes back
Dispute resolved for vendor	PayMe + vendor vote release → vendor gets paid (only if they proved they paid)
Mutual agreement to cancel	You + vendor vote refund → instant refund, no admin needed

PayMe cannot steal your funds. The platform holds one of three votes — not two. A PayMe admin cannot unilaterally release money to a vendor. The math doesn't work. The contract enforces this. It is not a promise — it is code on a public blockchain.

30-day safety net: if a trade is never resolved and PayMe became entirely unavailable, there is an on-chain timeout built into the contract. After 30 days, you can reclaim your crypto directly from the blockchain. You never permanently lose access to your funds.

HOW A TRADE WORKS

Enter your amount and pick a bank account. The account where Naira will be sent. You must have this saved before starting — add it from the app or by asking the AI agent.
Pick a vendor. Browse vendor cards showing rate, star rating, completion %, and speed. Or say "best" and the app picks the top-ranked vendor automatically.
Crypto locks in escrow. Your USDC/USDT moves into the smart contract. You cannot spend it elsewhere. The vendor receives a notification and accepts the order.
Vendor sends Naira. The vendor transfers NGN to your bank account and marks the order as paid. You receive a notification: "Check your bank account."
You confirm receipt. Once the Naira is in your account, confirm in the app or tell the AI agent "I got it." This triggers your vote. PayMe co-signs. The escrow releases crypto to the vendor. You have 2 hours to confirm or dispute — if neither happens, the escrow auto-releases to the vendor.
Rate the vendor. Leave a 1–5 star rating. This directly affects how often that vendor gets recommended to other buyers.

Do not confirm until the Naira is actually in your account. Confirmation is irreversible. Once you confirm, the crypto releases to the vendor and cannot be recalled.

PICKING A VENDOR

Vendor cards show four key stats:

Rate NGN per 1 USDC/USDT. Higher = more Naira for you.

Star Rating Average rating from past buyers. Rolling last 50 trades.

Completion % of accepted orders they successfully completed.

Speed How quickly they typically accept and process orders.

Three badge labels help at a glance: BEST RATE (highest NGN rate right now), MOST TRUSTED (highest star rating), and FASTEST (lowest average response time).

Greyed-out vendor cards mean your amount is outside that vendor's min or max order range.

The app's auto-select weighs all four signals together — rating 35%, rate 35%, completion 20%, speed 10% — and picks the vendor with the best overall score, not just the highest rate.

IF SOMETHING GOES WRONG

Vendor accepted but hasn't paid

There is a 10-minute cooldown from when your crypto locks before you can open a dispute. This gives the vendor time to process a bank transfer. After 10 minutes with no payment, open a dispute immediately.

Vendor marked paid but you didn't receive Naira

Open a dispute immediately — there is no cooldown once a vendor has marked the order as paid. The escrow freezes and the 2-hour auto-release timer is paused. Do not wait — disputing protects your funds.

How to open a dispute

Tell the AI agent: "I didn't receive my money" or "open a dispute". The agent finds your active order automatically — you never need an order ID. You can also upload evidence: bank statements, screenshots, or any proof the Naira did not arrive.

What happens during a dispute

Your crypto stays frozen in the smart contract. Nobody can move it.
The vendor is asked to submit their own evidence (payment receipts, transfer screenshots).
A PayMe admin reviews both submissions independently.
A resolution is issued. The 2-of-3 vote executes the outcome on-chain.

Mutual dispute cancellation

If the vendor cancels the dispute: treated as them conceding. Your crypto is refunded immediately — no admin review, no waiting.
If you cancel the dispute: the vendor must agree first. This prevents a scam where a buyer opens a false dispute, takes a refund, and keeps the Naira they already received.

YOUR BANK ACCOUNT

You need a saved bank account before starting a trade. This is where the vendor sends your Naira.

30-day lock rule: after you add or remove a bank account, you cannot change it for 30 days. This is a security measure — it prevents someone who gains access to your account from redirecting your Naira payout right before a trade. Add your bank account before you need it, not during a trade.

WHY YOUR RATING MATTERS

After every completed trade, you are prompted to rate the vendor 1–5 stars. This is not a courtesy — it directly affects how the marketplace works:

Vendor ranking: star rating is the single heaviest signal in how vendors are scored and routed. A well-rated vendor gets more orders.
Auto-deboost: vendors whose rolling average falls below 2.0 stars are automatically pushed down in rankings and receive significantly fewer orders.
Your fellow buyers: your rating helps the next person choose wisely.

Vendors with low ratings cannot hide on PayMe. Your one rating, combined with others, determines whether a bad vendor keeps operating. It takes five seconds and it matters.

CANCELLATION RULES

You can cancel before your crypto locks in escrow (while the order is still pending).
Once your crypto is locked, you cannot cancel. You must open a dispute instead.
There is a 10-minute cooldown before disputes are allowed after escrow locks — this gives the vendor time to process a normal bank transfer.

ZERO TOLERANCE

PayMe enforces a scam-proof zero-tolerance policy for bad-faith behaviour:

Confirming receipt when you did not receive your fiat → permanent loss of P2P access
Filing false disputes → permanent loss of P2P access
Any vendor proven to have attempted fraud → permanent excommunication from PayMe P2P

Your PayMe wallet is always yours. P2P penalties only affect your access to the convert-to-fiat feature. Your crypto, your wallet, sending, receiving, and bridging — none of that is ever touched. PayMe is self-custodial: no one can take your funds, ever.

The escrow design makes cheating difficult. The zero-tolerance policy makes fraud permanently costly.

GETTING STARTED

Create a PayMe account at payme.feedom.tech
Deposit USDC or USDT to your wallet
Add your bank account (ask the agent or go to Settings)
Open the Convert screen and pick a vendor

The AI agent guides you through every step in plain English — or Pidgin.

OPEN PAYME →