Best Top Popular Binance Alternative in Nigeria
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Cryptocurrency trading has gained immense popularity in recent years, with Bitcoin emerging as a leading digital asset. In Nigeria, as in many other countries, Binance has been a prominent platform for buying and selling Bitcoin. However, the crypto landscape is dynamic, and users often look for alternatives for various reasons, such as regulatory changes, trading features, or customer support.
Binance plans to discontinue its Nigerian Naira (NGN) services following increased scrutiny from the country’s regulators. The crypto exchange will delist any existing NGN pairs on the 8th of March 2024, any remaining NGN balances in a user account will be converted to USDT (United States Department of the Treasury), the ticker symbol for the Tether stablecoin cryptocurrency.
In this post, we are going to delve deep into the following topics;
binance alternatives in nigeria
What is happening to Binance in Nigeria?
Which is better Kucoin or Binance?
What is happening to Binance in Nigeria?
Binance will stop all transactions and trading in Nigeria’s local currency after March 8 amid a country-wide crackdown on crypto exchanges that have been blamed by authorities for feeding a black market for foreign exchange. It will stop supporting withdrawals after Friday and any remaining balances in Nigerian Naira will be automatically converted into Tether – a stablecoin whose value is pegged to the U.S. dollar.
Regulators believe that crypto platform with the inclusion of Binance at the forefront encourages speculators to tamper exchange rate which resulted in a recent all time high Dollar and other foreign currencies against Naira. With the move of the Central Bank of Nigeria in this issue, Binance particularly had its service being terminated in Nigeria.
However, now that Binance has discontinued NGN from its platform, what other alternative do you have? Here are few ones to choose from!
Top Binance Alternatives In Nigeria
1. KuCoin
KuCoin is a global cryptocurrency exchange platform that stands out as a top Binance alternative. It has grown to be a leading cryptocurrency platform that allows you to buy, sell, and trade Bitcion, Ethereum, and 700 +altcoins, serving almost every crypto holder worldwide. The platform allows P2P trading between Nigerian Naira NGN and other currencies. This makes it a good alternative.
In addition, 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 was said to have end, but this platform is a good one to make use of.
2. Dtunes
Dtunes is a crypto and gift card exchange app that allows users to exchange their assets for cash in Nigeria. The platform has a user-friendly interface that makes it easy for users to navigate the platform and complete transactions easily.
This app also has the fastest payout ever! Transactions are completed in minutes and you can withdraw to any bank of your choosing.
Dtunes also has a 24/7 customer support team that is always available to assist users with any questions or concerns.
The app is available on the Google Store and the App Store.
3. Remitano
Remitano is a multinational cryptocurrency exchange platform that supports Bitcoin, litecoin, and other popular currency trading. With Remitano, you can sell, store, invest, deposit, and withdraw cryptocurrencies with Fiat Wallet FAST &SECURELY.
This platform supports Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Bitcion Cash (BCH), Litecoin (LTC) Ripple (XRP), and many other altcoins. Most importantly, it allows an Escrowed P2P Naira Exchange. this made it good alternative for Nigerians to use as Binance is hindered in Nigeria.
4. Luno
Luno is a popular cryptocurrency exchange in Nigeria. It was founded in 2013 and has since grown to become one of the largest exchanges in Africa. Luno offers support for Bitcoin, Ethereum, and Litecoin, among other cryptocurrencies. It is also known for its user-friendly interface and competitive fees.
5. Quidax
Quidax is another popular cryptocurrency exchange in Nigeria. It offers support for a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Ripple. Quidax is also known for its high-quality customer support and competitive fees.
6. Byrit
This is a quick and easy cryptocurrency exchange and marketplace, that allows you 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.
7. Yellow Card
Yellow Card is a cryptocurrency exchange that was founded in 2019. It offers support for Bitcoin, Ethereum, and Litecoin, among other cryptocurrencies. Yellow Card is also known for its mobile application and the availability of over 8,000 cash-to-crypto locations across Nigeria.
8. Busha
Busha is a cryptocurrency exchange that was founded in 2018. It offers support for Bitcoin, Ethereum, and Litecoin, among other cryptocurrencies. Busha is also known for its user-friendly platform and competitive fees. It is a good alternative for Nigerians to use now Binance has stepped down.
Which is better Kucoin or Binance?
Binance and Kucoin have several similarities, including their founding year and their popularity among crypto traders. However, they also have some differences. For example, Binance offers a wider range of cryptocurrencies, while Kucoin offers better customer support. Binance also has a larger user base, while Kucoin is known for its rewards program.
However, since Binance is coming to an end in Nigeria, KuCoin is the best platform to use for cryptocurrency exchange.
Conclusion:
There are many other cryptocurrency exchange platforms and marketplace out there, it is very essential to stick to the ones that work the best. The ones mentioned in this post, work well and have good reviews from users across social media platforms.
Also check our post on; BDC Aboki Dollar to Naira Today Black Market Exchange Rate (March 5th & 6th, 2024)
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