You must have seen the circular from Central Bank of Nigeria directing banks in Nigeria to block the account of cryptocurrency exchanges. Doing this will stop us from depositing or withdrawing money to and from our favorite exchanges.
Little did they know that we will always have a way out.
The way out is making use of Peer-2-Peer trading option on Binance.
What is Peer-2-Peer trading?
This is a kind of cryptocurrency trading where buyers and seller can send or transfer money to each other directly. And in this, Binance act as the middleman.
How is it done?
First, create an account with Binance and verify your identity.
Navigate to the P2P section and add your payment option.
When you want to buy coins, you will choose a vendor of your choice and pay to his/her account and then the coins will be in your Binance wallets. When you sell, the money will be paid to your local bank by the buyer.
Little did they know that we will always have a way out.
The way out is making use of Peer-2-Peer trading option on Binance.
What is Peer-2-Peer trading?
This is a kind of cryptocurrency trading where buyers and seller can send or transfer money to each other directly. And in this, Binance act as the middleman.
How is it done?
First, create an account with Binance and verify your identity.
Navigate to the P2P section and add your payment option.
When you want to buy coins, you will choose a vendor of your choice and pay to his/her account and then the coins will be in your Binance wallets. When you sell, the money will be paid to your local bank by the buyer.
