Most of us have had to sell off properties at one point or the other for reasons best known to us. Now, the selling could have taken place physically or online or even both. You’d agree that selling stuffs online has us a bit skeptical right? Well, you have nothing to be worried about when it comes to selling your Bitcoin for naira in Nigeria. The ban the Federal government placed on cryptocurrencies few years back crippled a lot of businesses and even made some very sad. Fortunately, Binance brought about P2P (peer-to-peer) in order to further aid the smooth buying and selling of Cryptocurrencies. Binance P2P over time, has proved to be the best platform to sell Bitcoin for naira in Nigeria amidst other Cryptocurrencies.
Advantages of Binance P2P
Here are few of the reasons why Binance P2P is the best option for selling Bitcoin for naira in Nigeria
- No trading fees: you’d expect that a service as good as this would cost you something. Not at all. Trading on Binance P2P incurs zero charges, this is so that you could enjoy your full gain without worrying about charges.
- Escrow Service: each Binance P2P trade involves escrow service protection, which assures that each counterparty in a transaction is protected from any attempt by either party to act in bad faith.
Asides this there are other advantages such as; Multiple payment methods and fiat currencies, a good local and global marketplace and so on.
How to add a new payment method on Binance P2P
- In order to start trading on Binance P2P, you have to have an account and complete KYC verification. Open a free Binance account if you are yet to
- On the home page, click P2P Trading>>> Profile
- Click on Payment Method>>> Add a new Payment Method
- Choose a preferred payment method from all the available payment options, and click to enter your detailed payment information. Then click Confirm.
How to sell Bitcoin on Binance P2P with Bank Transfer
Selling Bitcoin could be a wonderful experience as lots of sellers are on there but, there are some things to note…
If you’re new to Peer-to-Peer trading, you are probably confused on which offer to pick as they are so many. Fret not! Finding the best offer is as easy as P-2-P. First thing is to know how much Bitcoin you want to sell, say you want to sell 2 BTC, you may want to watch out for those selling in your range (if you are unable to find the range, you could just put the amount in the filter box and it’d pop right up!). Also check the maximum and the minimum amount of Bitcoin you can trade for each buyer you are interested in.
On Binance P2P, you can see the activity of the buyers by clicking on the nickname. The buyer profile contains information such as:
- Total orders: this is the full number of transactions made
- 30d orders: this is the number of transactions the buyer completed in the last 30 days
- 30d completion rate: this is the percentage of transactions that the buyer started and completed successfully in the last 30 days
- Avg release time: this is how long it usually takes for the buyer to release the crypto
- Online ads: these are the offers to buy and sell that the buyer has online
After going through different profiles, Choose the price that best suits you. Make sure to check the requirement before making any trade, this is to avoid any altercation between you and the buyer. Once you are comfortable with the requirement, then you can start the trade. There is a chat box available for you and the buyer to dialogue during the trade.
When the buyer eventually sends the naira to your bank account, please make sure to check your bank app or your transaction history to verify that the money has indeed entered before hitting Release. If the verification turns out positive, do well to release the Bitcoin to the seller by clicking Release. If the verification turns out negative, notify the buyer immediately. Most times, when you are yet to receive the naira in your bank account, it could be due to network issues, so a little bit of patience is required when you don’t see the funds immediately in your bank account.
You are probably having doubts like, what if I get scammed? Well, all buyers and sellers alike on Binance P2P are all verified by Binance. Asides that, Binance P2P Escrow service ensures that the Bitcoin you are about to sell does not get to the buyer until you can confirm that you have indeed received the naira in your bank account… See them as some sort of referee to make things all fair and safe.
In conclusion, selling your Bitcoin for naira in Nigeria on Binance P2P would be the best option you could take. Why don’t you give it a try today? https://p2p.binance.com/ZCF73TU7
Create a free Binance account today https://www.binance.com/en/buy-sell-crypto?ref=ZCF73TU7
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