Binance, one of the largest and most well-known cryptocurrency exchanges globally, has been at the forefront of this digital finance revolution. However, due to regulatory challenges in Nigeria, the platform announced closing its NGN transactions starting on March 8th. This set many crypto users to start looking out for alternatives to it. This article aims to shed light on some of the top cryptocurrency platforms that offer unique advantages and services to Binance catering to the Nigerian Naira NGN transactions.
But,
Why Did Binance Withdraw NGN Exchange?
Regulators believe that crypto platforms including Binance at the forefront encourage speculators to manipulate exchange rates which resulted in a recent all-time high of Dollar and other foreign currencies against Naira. With the move of the Central Bank of Nigeria in this matter, Binance particularly had its service being hindered.
In the same situation, Authorities have accused Binance of the downfall and imposed a $10 billion fine on the company.
However, now that Binance has discontinued NGN from its platform, what other alternative do you have? Here are a few.
Alternatives to Binance in Nigeria
1. Remitano
Remitano is a multinational cryptocurrency exchange platform that supports Bitcoin, litecoin, and other popular currency trading. With Remittance, you can buy, sell, store, invest, deposit & Withdraw cryptocurrencies with Fiat Wallet FAST & SECURELY.
The platform supports Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), and many other altcoins Most importantly, it allows an Escrowed P2P Naira Exchange. This has made it a good alternative for Nigerians to use as Binance stepped down. You can use this link https://remitano.com/us/join/6798582 to sign up for an account or download its app from Google Play https://play.google.com/store/apps/details?id=com.remitano.remitano
2. KuCoin
KuCoin is also a global cryptocurrency exchange platform that stands out as a top Binance alternative. It has grown to be a leading cryptocurrency that allows you to buy, sell, and trade Bitcoin, Ethereum, and 700+ altcoins, serving nearly every crypto holder worldwide. The platform allows P2P trading between Nigerian Naira NGN and other currencies. This will make it a good alternative.
Additionally, KuCoin offers Mega P2P promotions for Nigerians whereby users stand a chance to get rewarded with 2 USDT when they trade at least $15 on the platform. Although the promo was said to have end, but the platform is still a good one. Use this link: https://play.google.com/store/apps/details?id=com.kubi.kucoin to download its app on Google Play Store.
3. Bybit
Bybit is a quick and easy cryptocurrency exchange and marketplace, it allows you to Trade BTC, ETH, LINK, ADA, SOL, DOT, XRP, MNT, WLD, AVAX, MEME, USDC, and other cryptocurrencies instantly and conveniently pay with credit and debit cards or bank transfers. The platform allows NGN transactions in its P2P trading thereby serving as a good alternative to Binance in Nigeria.
To start with Bybit, download its app from Google Play and register an account.
Invitation Link: https://play.google.com/store/apps/details?id=com.bybit.app
use the invitation link to get sign up bonus.
Bybit often features as one of the favorite exchanger for airdrop listing of most telegram mini apps mining.
Conclusion
There are many crypto exchange platforms out there, it is important to stick to the ones that work best. These few mentioned, work well and have good testimony from users across social media platforms
