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Mar 05
2020
Binance Adds Nigerian Naira as Its First African Currency for P2P Trading


Binance, the leading global cryptocurrency exchange, today 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 on Binance.com or Binance mobile app

NGN is the first African fiat currency supported on Binance P2P platform. “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 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.“ 

The NGN integration allows 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 24x7 customer support. 

“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. 

Users who have a reliable source of fiat and cryptocurrencies can apply now to join the program. See tutorials here to learn about P2P trading and start a trade on Binance.com or the Binance mobile app today.

About Binance P2P

Binance Peer-to-Peer (P2P) provides easy access to cryptocurrency through a consumer-to-consumer (C2C) or business-to-consumer (B2C) model and better trading experience for users. Visit: https://p2p.binance.com/

About Binance

Binance is a blockchain ecosystem comprised of several arms to serve the greater mission of blockchain advancement and the freedom of money. Binance Exchange is the leading global cryptocurrency exchange by trading volume, with users from over 180 countries and regions. The Binance ecosystem is also comprised of Binance Labs (venture capital arm and incubator), Binance DEX (decentralized exchange feature developed on top of its native, community-driven Binance Chain blockchain), Binance Launchpad (token sale platform), Binance Academy (educational portal), Binance Research (market analysis), Binance Charity Foundation (blockchain-powered donation platform and non-profit for aiding in sustainability), Binance X (developer-focused initiative) and Trust Wallet (its official multi-coin wallet and dApps browser). For more information, visit: https://www.binance.com