x

Binance Now Accepts Naira For Deposits And Withdrawals

On November 7, 2022, Binance, the largest cryptocurrency exchange company in the world, announced that it now supports naira deposits and withdrawals. In order to achieve this, Nigerian traders can now fund and empty their Binance Wallets with local currency.

The decision to add a fiat gateway for the naira is in furtherance of the company’s mission to increase the adoption rate of cryptocurrencies in the nation, according to a brief statement from the company. The recently introduced fiat gateway will lessen the difficulties that traders and investors in Nigeria frequently experience when transacting in cryptocurrencies.

“Binance is pleased to announce that it has added a fiat gateway for Nigerian Naira (NGN) as part of Binance’s mission to increase the adoption and mainstream accessibility of crypto. Users are now able to deposit and withdraw NGN to and from their Binance wallets,” the company said.

Note that in February 2021, Binance temporarily stopped accepting deposits and withdrawals in Nigerian Naira after the Central Bank of Nigeria (CBN) forbade commercial banks from handling payments for cryptocurrency platforms operating in the nation. This occurred as a result of its payment partners following the CBN’s instruction.

However, the cryptocurrency exchange platform pledged to come up with arrangements that would allow Nigerian users to keep using the service. It announced the fiat gateway for the naira more than a year later.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Dhul Hijja: FCT Pilgrims Admonished To Deepen Worship During Sacred Days

By Joyce Remi-Babayeju Pilgrims from the Federal Capital Territory (FCT)...

Education Secretariat Absorbs FCT Schools From Religious Indoctrination

By Joyce Remi-Babayeju The Federal Capital Territory, Education Secretariat of...

Water Plants Rehabilitation, Reason for FCT Water Shortage , Wike Explains

By Joyce Remi-Babayeju The Minister of the Federal Capital Territory...

world Communication Day: Pope, Elue, Delta Speaker Hail Media

By Ane Azuka  Speaker, Delta State House of Assembly, Rt...

igoche Mark Backs Athletes’ Insurance, Condoles Kano

Mr. Igoche Mark, a prominent basketball promoter and the...

Nwuche Praise Tinubu, Wike For Abuja’s Transformational Development

By Joyce Remi-Babayeju A former Deputy Speaker of the House...

We’ll Soon Appoint Permanent Secretaries – Oborevwori

... Lauds HoS for Her Integrity By Anne Azuka Governor, Sheriff...

Bayelsa Raises Minimum Wage, Invests in Infrastructure

Amgbare Ekaunkumo,Yenagoa  The Bayelsa State Government has begun implementing the...
spot_img

Related Articles

Popular Categories

spot_imgspot_img