Introduction of Naira on Binance P2P
In a bold move to enhance its fiat-to-crypto capabilities, Binance has rolled out support for the Nigerian Naira (NGN) on its peer-to-peer (P2P) platform. Starting March 4, users can trade popular cryptocurrencies like Bitcoin and Ethereum using NGN without incurring any transaction fees. This marks a significant milestone as the first African fiat currency to be integrated into Binance P2P.
P2P Trading: A Game Changer for Nigerians
The integration allows Nigerian users to buy and sell cryptocurrencies directly with one another—and that’s not just a fancy way to say “let’s trade!” People can engage with verified merchants or create their own trade ads. Imagine a bustling marketplace bursting with traders – and all happening at the click of a button on both the Binance website and the mobile app!
Empowering Nigerians Through P2P Merchants
Binance’s CEO, Changpeng Zhao (affectionately known as CZ), emphasized that this new service allows users to also become P2P Merchants. By posting trade ads, these merchants could earn several thousand dollars a month while providing much-needed access to cryptocurrency in their communities. It’s akin to being the local shopkeeper, but instead, you’re stocking digital coins!
A Crypto Revolution in Africa?
With Africa often dubbed the “blockchain continent,” CZ made it clear that cryptocurrency is more than just a trend; it’s a pathway to financial empowerment. He stated, “We no longer need to bank the unbanked. We can empower them with cryptocurrency financial services directly.” This sentiment might just make you want to take a quick plunge into the crypto pool, or at the very least, dip your toes!
From Promises to Reality
Binance’s venture into Nigerian markets isn’t entirely new. They started accepting deposits in NGN back in October 2019 and have continuously aimed to facilitate the crypto journey for users by integrating more fiat currencies. With an ambitious goal to support over 180 currencies by 2020, CZ has his sights firmly set on broadening cryptocurrency access for everyone. Let’s hope that “a few minutes” stays true amidst their occasional maintenance tweets!
+ There are no comments
Add yours