How to Deposit and Withdraw NGN on Binance
Main Takeaways
Binance has a fiat gateway for the Nigerian Naira (NGN).
This gateway lets users deposit (on-ramp) and withdraw (off-ramp) funds directly to and from their Binance account.
Fiat deposits through this method will be credited to your Binance Spot wallet.
Users can convert these funds to other cryptocurrencies on the Spot market.
As part of its objective to broaden the use of cryptocurrency and make crypto accessible to the general public, Binance has added a fiat gateway for the Nigerian Naira (NGN).
Users can now deposit and withdraw fiat currencies like NGN directly to and from their Binance wallets. This is done through a peer-to-peer payment network of verified merchants with liquidity.
In this article, we will show you how to deposit and withdraw NGN on the Binance app, step by step.
How to Deposit NGN to Binance
Step 1. Create a Binance account and log into your account. If you donât have a Binance account yet, sign up here for free.
Step 2. On the Binance app home page, click âWalletsâ.
Step 3. On the Wallet page, click âDepositâ.
Step 4. Click âCashâ to switch to the cash menu. Search for your local currency (in this case, NGN).
Step 5. Select your payment method and click âContinueâ.
Step 6. Fill in your payment account details. Make sure the account name here is the same as the one on your Binance account. Click âContinueâ to proceed.
Step 7. Enter the amount you want to deposit and click âContinueâ.
Step 8. Select a verified merchant and click âSend Requestâ.
Step 9. You will be directed to the payment page. After making your payment, click âI have paidâ to confirm your payment.
Step 10. After your payment has been confirmed, you will be directed to the page that confirms your deposit. You can click âCloseâ to conclude this transaction.
Your NGN will appear in your Spot wallet. From here, you can convert it to any crypto of your choice by trading in the spot market. This guide will show you how to convert crypto in your spot wallet.
How to Withdraw NGN from Binance
Step 1. On the Binance app home page, click âWalletsâ.
Step 2. Go to the âSpotâ section and click âWithdrawâ.
Step 3. Click âCashâ to switch to this menu. Select the currency you want to withdraw (NGN).
Step 4. Fill in your receiving account details. Make sure the account name here is the same as the one on your Binance account. Click âContinueâ to proceed.
Step 5. Enter the amount you want to withdraw and click âContinueâ.
Step 6. Select any verified merchant of your choice and click âSend Requestâ.
Step 7. Check the boxes if you agree to the terms and confirm that you have received your payment. Click âContinueâ to proceed.
Step 8. You will be sent an OTP to confirm the transaction.
Step 9. Click âCloseâ to conclude this transaction.
You can deposit and withdraw NGN directly through the Binance app. For more information on how to deposit and withdraw fiat on Binance, kindly refer to the following related articles.
(Support) How to Deposit Fiat Currency on Binance.
(Support) How to Withdraw Fiat Currency from Binance.