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Binance Adds Nigerian Naira Fiat Trading Pair, Opens Deposits

Crypto Exchange Binance announced on Oct. 24. it opened deposits for fiat currency Nigerian Naira (NGN).

Binance Adds Three New NGN Trading Pairs

As per the announcement made NGN deposits will be processed by Flutterwave, the online payments processor. It will be also adding three new trading pairs: USN/NGN, Binance Coin/NGN, and Bitcoin/NGN.

Binance made NGN deposits temporarily free up to 36,000 NGN (about $100) starting from Oct. 24 for the promotion of the newly supported currency on the trading platform. The fees on NGN will be set at 1.4% for ineligible deposits. The maximum allowed deposit is 430,000 NGN ($1,191), while the minimum is 150 NGN ($0.42).

Interestingly, Google Trends shows that the African country has the most interest in the subject. Binance founder and CEO Changpeng Zhao commented in a tweet:

This is the first fiat trading pair on @binance ( You know what it happens next, right? First leads to more… — CZ Binance (@cz_binance) October 24, 2019

Binance And Other Projects On Easier Trading

On Oct. 9. cryptonewspoint reported that Binance users can now use popular Chinese applications like WeChat and Alipay in P2P transactions.

Singapore based crypto exchange Huobi will launch a fiat gateway for Turkish lira at the end of the year.

Moreover, Binance futures platform announced recently that it has increased the leverage on Bitcoin (BTC)/Tether (USDT) contracts to 125x.

Binance recently added debit and credit cards as a payment option to buy cryptocurrencies directly via its payment processing firm Koinal.

Source: This news has been sourced from Official Binance Blog with additional feeds from CryptoNewsPoint.



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