Binance Adds Nigerian Naira as Its First African Currency for Peer to Peer Trading


Binance, one of the leading global cryptocurrency exchange, has recently announced the launch of peer-to-peer (P2P) trading services for the Nigerian Naira (NGN), providing an open platform for users to trade cryptocurrencies using NGN with zero transaction fees.

Nigeria has become the first African fiat currency supported on Binance P2P platform. the integration will allow users in Nigeria to directly buy and sell BTC, ETH, USDT, BNB and BUSD with other users and verified merchants on Binance P2P platform.

Users can select the trades listed on P2P platform by the amount and payment methods, and access instant and secure trades with Binance’s crypto escrow service and 24×7 customer support.

“We believe that Africa is a blockchain continent. And it no longer needs to bank the unbanked. We can empower them with cryptocurrency financial services directly. Nigeria is a vibrant innovation hub with a great passion for cryptocurrencies,“ said Changpeng Zhao, CEO of Binance. “We strive to provide the easiest cryptocurrency access and best trading service for the African community, and P2P trading is a more flexible approach, giving users the freedom to choose their payment methods and counterparty in a trade.“

“We are also providing a unique opportunity for users to become P2P Merchants where they can post trade ads and earn money, estimated to be worth a few thousand dollars USD per month while providing cryptocurrency access for their communities,“ said Zhao.

How to buy bitcoins on Binance

Binance’s world-class matching engine supports up to 1,400,000 orders per second. This ensures that your crypto trading experience is quick and reliable. On the Binance platform, you can buy bitcoins in the steps below:

1. Create an account

Set up your bitcoin account or online wallet that is similar to a bank account. In order to conduct transactions on the bitcoin network, participants need to run a program called a “wallet” that will allow to buy and sell bitcoins

2. Verify your email and sign in

The next step after opening your wallet is to Secure your account by noting down your wallet ID and using the security centre to verify your email. By verifying you complete your profile.

3.  Make a deposit

To make deposits, click on your wallet account and select the deposit amount and payment method, You will send them money via your credit card or bank transfer and they will send you bitcoins in exchange.

Ways to buy bitcoins on Binance

To get started You can buy your bitcoins on Binance through the following ways:

1. Buy BTC with Bank Transfer

Buy stablecoins listed on Binance by wiring money from your account to the providers of these coins. Then, use these stablecoins to buy Bitcoin on Binance exchange.

2.Trade BTC

Binance supports the deposit of more than 150 cryptocurrencies, several of which you can exchange for Bitcoin at some of the best rates in the market.

3. Buy Bitcoin with Credit Card

You can directly purchase Bitcoin with a credit card on Binance. We offer the best route to buy Bitcoin using a debit card or credit card (Visa or MasterCard).