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With Nigeria’s rapidly growing crypto adoption, Binance has become a go-to platform for many Nigerians looking to trade or invest in cryptocurrencies. However, due to regulatory restrictions, direct deposits and withdrawals from Nigerian banks to Binance are no longer available. But don’t worry—Binance’s Peer-to-Peer (P2P) system provides a smooth, legal, and secure alternative.

In this guide, we’ll break down how to deposit and withdraw Naira (NGN) on Binance using your local bank account or fintech apps like Opay, Kuda, Palmpay, Moniepoint, and Flutterwave.

 

🔁 The Core Method: Binance P2P (Peer-to-Peer Trading)

Due to Central Bank of Nigeria (CBN) regulations, crypto exchanges like Binance can't directly integrate with Nigerian financial institutions. But with Binance P2P, you can buy and sell crypto directly with other users who will pay or receive funds via bank transfer or fintech wallets.

 

✅ How to Deposit (Buy Crypto) Using Nigerian Banks

This involves buying crypto with your Naira through P2P. Think of it like buying airtime or paying someone—only this time, you're exchanging Naira for crypto.

🔹 Step 1: Fund Your Bank or Fintech Wallet

Ensure you have funds in your bank account (GTB, Access, Zenith, etc.) or wallet (Opay, Kuda, Palmpay).Open your Binance account (mobile app or web).

🔹 Step 2: Go to P2P Trading

Tap "P2P" under the “Trade” menu.Select “Buy” and choose a cryptocurrency (e.g., USDT, BTC, BUSD—USDT is the most used).

🔹 Step 3: Filter for Nigerian Sellers

Tap the filter icon:Currency: NGNPayment Method: Choose your preferred (Opay, Bank Transfer, Kuda, etc.)Review available sellers based on price, completion rate, and limits.

🔹 Step 4: Place Your Order

Tap Buy and input the amount in Naira.Confirm and proceed.

🔹 Step 5: Make Payment

Binance will show the seller’s account details.Make the bank or app transfer (ensure you add the correct reference if needed).Tap “Transferred, Next” on Binance after payment.

🔹 Step 6: Wait for Confirmation

The seller will confirm receipt and release the crypto to your Funding Wallet.You now officially own crypto.

 

💸 How to Withdraw (Sell Crypto) to Nigerian Banks

To cash out your crypto into Naira, use the same P2P system in reverse.

🔹 Step 1: Move Crypto to Funding Wallet

Go to Wallets → Funding → Tap Transfer from Spot or Earn.Choose crypto like USDT and confirm transfer.

🔹 Step 2: Sell on Binance P2P

Go to P2P → Sell.Choose the amount and filter:Payment Method: Bank Transfer, Opay, Kuda, etc.Confirm buyer’s profile and rate.

🔹 Step 3: Confirm the Sale

Enter amount and bank details if not already saved.Binance holds your crypto in escrow.

🔹 Step 4: Wait for Naira Transfer

Buyer sends money directly to your bank or fintech app.Once you see the funds, tap “Payment Received” to release the crypto.

⚠️ Never click “Payment Received” until you actually get the money.

 

💡 Supported Payment Methods in Nigeria on Binance P2P

✅ Bank Transfer (GTBank, Zenith, UBA, Access, FCMB, First Bank, etc.)✅ Kuda✅ Opay✅ Palmpay✅ Moniepoint✅ Carbon✅ Paga✅ Flutterwave

 

⚠️ Tips for Safe P2P Transactions

Only deal with verified users or those with 90%+ completion rate.Avoid external chats—keep communication inside Binance.Always use Escrow: Binance holds the crypto until payment is confirmed.Don’t use crypto-related terms in your bank payment descriptions.

🚀 Final Thoughts

Even with regulatory restrictions, Binance remains accessible for Nigerians through its robust P2P platform. Whether you’re using a traditional bank like GTBank or digital platforms like Opay or Kuda, you can easily fund your Binance wallet and withdraw your crypto earnings in Naira.

With Binance P2P, crypto in Nigeria is alive and thriving. Just be smart, stay secure, and trade with confidence.

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Cryptocurrency has opened up new financial possibilities globally, and Kenya is no exception. Many Kenyan users now trade on Binance, one of the world's largest crypto exchanges. But once you've made your profit or received funds in crypto, how do you actually withdraw that money to your local bank or M-Pesa account?

In this article, we’ll walk you through step-by-step instructions on how to withdraw funds from Binance to popular Kenyan payment platforms like M-Pesa, Equity Bank, KCB, and others.

 

🔑 The Key Method: Binance P2P (Peer-to-Peer) Trading

Binance does not yet support direct withdrawals to Kenyan banks or M-Pesa. However, the Binance P2P platform provides a fast, secure, and reliable way to sell your crypto to local buyers who pay you directly via M-Pesa, bank transfer (Equity, KCB, etc.), or Airtel Money.

✅ Step-by-Step Guide: Withdraw via Binance P2P

 

🧭 Step 1: Open the Binance App or Website

v  Log in to your account.

v  Switch to “Binance Pro” mode if using the mobile app (P2P is not available in Lite Mode).

 

💸 Step 2: Transfer Crypto to Your P2P Wallet

v  Go to Wallet → Funding.

v  Tap Transfer, select the coin (e.g., USDT, BTC, BNB), and move it from your Spot Wallet to your Funding Wallet.

v  Only crypto in your Funding Wallet is available for P2P trading.

🛍 Step 3: Open Binance P2P

v  Tap “P2P” on the home page or under “Trade.”

v  Tap “Sell.”

v  Select the crypto you want to sell (most people use USDT for stable pricing).

 

💳 Step 4: Filter for Kenyan Buyers

v  Use the filter icon to select:

o    Currency: KES (Kenyan Shillings)

o    Payment Method: M-Pesa, Equity Bank, KCB, Airtel Money, etc.

v  Choose a buyer with:

o    High completion rate (over 90%)

o    Reasonable price

o    Verified badge (optional, but helpful)

 

📥 Step 5: Sell Crypto

v  Tap Sell next to your chosen buyer.

v  Enter the amount you wish to withdraw (either in KES or crypto).

v  Confirm your preferred payment method (e.g., your M-Pesa number or bank account).

v  Tap Sell with 0 Fees.

 

⏳ Step 6: Wait for Payment

v  The buyer will send the money directly to your M-Pesa or bank account.

v  Do not click “Confirm Receipt” until you’ve actually received the money in your account.

 

✅ Step 7: Confirm Receipt

v  Once you receive the payment in your bank or M-Pesa account, go back to Binance and tap “Payment Received.”

v  Confirm to release the crypto from escrow.

 

💡 Tips for Safe P2P Transactions

v  Use verified buyers with a good reputation.

v  Avoid trading outside Binance chat.

v  Never confirm payment unless you've received it.

v  Binance holds the crypto in escrow during the transaction—this protects both parties.

 

🔄 Supported Kenyan Payment Methods on Binance P2P

As of now, Binance P2P supports:

v  ✅ M-Pesa (most popular)

v  ✅ Equity Bank

v  ✅ KCB Bank

v  ✅ Airtel Money

v  ✅ Cooperative Bank

v  ✅ ABSA

v  ✅ Other local banks via direct transfers

Final Thoughts

While Binance doesn’t offer direct bank withdrawals in Kenya yet, its P2P platform is a fast, safe, and efficient solution. You can easily convert your crypto to cash and receive it through M-Pesa, bank transfers, or mobile money—all within minutes.

With a little practice, you’ll find this method both convenient and powerful. Whether you’re a trader, freelancer, investor, or crypto enthusiast, Binance P2P gives you access to your crypto profits in local currency anytime, anywhere.

 

In the world of cryptocurrency, Binance stands as one of the largest and most trusted platforms. But for newcomers, navigating its many features can feel overwhelming. If you're just getting started, this guide will walk you through the essentials—step by step—so you can start using Binance like a pro.

1. Create and Verify Your Binance Account
The first step is setting up your account:
Visit binance.com or download the Binance mobile app.Sign up using your email or phone number.Complete KYC (Know Your Customer) verification by submitting a valid ID and a selfie.
Verification may take a few minutes to a few hours, but it’s essential—it allows you to access core features like deposits, withdrawals, and higher trading limits.

2. Secure Your Account
Security should always come first. Protect your assets by:
Enabling Two-Factor Authentication (2FA) using Google Authenticator or SMS.Setting up an anti-phishing code, which helps verify the authenticity of emails from Binance.
This reduces your chances of falling victim to phishing scams or unauthorized access.

3. Deposit Funds into Your Wallet
Once verified and secure, you're ready to deposit funds:
For Crypto:
Click on “Wallet” → “Deposit”Select the cryptocurrency you want to deposit (e.g., Bitcoin, Ethereum).Copy your wallet address and ensure you select the correct network (e.g., TRC20, ERC20).

For Fiat (Local Currency):

Use the “Buy Crypto” tab to deposit via bank transfer or card (available options may vary by country).Alternatively, use P2P (peer-to-peer) to buy crypto directly from other users using mobile money or bank transfer—often with zero fees.
4. Buy Your First Cryptocurrency
Binance offers several user-friendly ways to buy crypto:

Credit/Debit Card – Quick and convenient.P2P – Good for locals with mobile payment platforms like M-Pesa.Convert – A simple interface for trading one coin for another without charts or complexity.

For starters, it’s wise to buy stablecoins like USDT or BUSD. These hold their value and make it easier to trade into other cryptocurrencies later.

5. Explore the Markets

Now that you own some crypto, it’s time to explore the trading section:

Go to “Markets” from the menu.Look at trading pairs like BTC/USDT, ETH/BUSD, etc.Add favorites to your Watchlist and monitor price changes.

This is where you’ll start learning how different cryptocurrencies move in the market.

6. Make Your First Trade (Spot Trading)

When you're ready to trade:

Tap on “Trade” and select the Spot Market.Choose your trading pair (e.g., BTC/USDT).Decide the type of order:Market Order – Buys or sells instantly at the current price.Limit Order – You set your desired price, and the trade executes when the market hits it.Enter the amount and confirm the trade.

Congratulations! You’ve officially entered the world of crypto trading.

7. Monitor Your Assets

To check your holdings, go to:

Wallet → Overview

Here, you’ll see all your crypto balances, profits, and transaction history in one place.

Bonus Tips for a Smooth Start

Switch to Binance Lite Mode: The simpler interface helps beginners avoid confusion.Use “Learn & Earn”: This feature allows you to earn free crypto by completing educational modules.Practice with Small Amounts: Until you’re confident, avoid trading large amounts. Focus on learning.

Final Thoughts

Getting started with Binance doesn’t have to be complicated. By taking it one step at a time—setting up your account, securing it, funding it, and making your first trades—you’ll quickly grow more confident in your crypto journey.

The key is to stay curious, stay secure, and keep learning. The world of crypto is evolving fast, and with platforms like Binance, the opportunities are right at your fingertips.