Nigerian Naira Becomes First African Binance P2P Currency

Nigerian Naira Becomes First African Binance P2P Currency

Binance have added the first African currency to their P2P cryptocurrency exchange service, the Nigerian Naira.

There has been a lot of updates from Binance of late in regards to their P2P trading service that went live late in 2019. Most recently, that saw them expand the trading service to also accommodate for desktop traders looking to use the service. However, most prominently, they have been adding many new fiat currencies for traders to use on the service, including Vietnamese Dong. In the latest addition to this, they have added the first African currency to the service in the form of the Nigerian Naira (NGN).

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Speaking about this latest addition, ChangPeng Zhao, the CEO of Binance, explained that, “We believe that Africa is a blockchain continent. We no longer need 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 “. Before continuing to explain that as a company, they “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. “

This will allow those who own the national currency of Nigeria to make transactions on the service with no fees attached. Thus meaning they can directly buy and sell BTC, ETH, USDT, BNB and BUSD with other users and verified merchants on Binance P2P platform. These transactions can all be processed instantly and with security ensured thanks to the Binance’s crypto escrow service. This is simple enough to do but if you need any assistance then you can use the services  24×7 customer support to assist the transaction.

As previously reported, the P2P service can also provide seller on the service with generous rewards in return for putting their tokens on the service and thus become a merchant on the platform. “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 CZ.

CZ also previously outlined his intent to add all 182 currencies used globally to Binance in some way, shape or form. As such, if you are still waiting for your currency to become available on the P2P service, or indeed, any of their services, then it seems to be a matter of when not if. Go to Binance now to start making use of NGN or any of the other fiat currencies that the P2P lets you use to buy crypto assets from other investors

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