Binance will reportedly discontinue all services for Nigeria’s naira, amid an ongoing regulatory conflict in the country.
The crypto exchange will automatically convert naira balances to USDT from March 8 at 8:00 a.m. UTC but will cease support for NGN deposits after 14:00 UTC today. Withdrawals will become unsupported after March 8 at 6:00 a.m. UTC.
Posting on its website on Tuesday, Binance said the conversion rate for automatic conversions will be 1 USDT per 1,515.13 naira, according to an announcement.
All spot trading pairs against the naira will be delisted on March 7 at 3:00 a.m. UTC. Open spot orders for these pairs will be automatically closed.
Binance Convert, Binance P2P, the exchange’s Auto Invest feature, and Binance Pay will also cease support for the naira at various dates and times.
All spot trading pairs against the naira will be delisted on March 7 at 3:00 a.m. UTC. Open spot orders for these pairs will be automatically closed.
Binance Convert, Binance P2P, the exchange’s Auto Invest feature, and Binance Pay will also cease support for the naira at various dates and times.
from dailypost
Is this the best out of this brouhaha? Shouldn't there have been a better resolution about this?
ReplyDelete© TEEJAY
Can someone break it down in a lane man language lol
ReplyDeleteLOL 😁😁😁, same thing I have in mind. Not been following the brouhaha though.
DeleteAnne K
Let them go. Nigerians are not ready for them, we have too many lazy youths. All they think about is buying and selling dollars
ReplyDeleteLet them go. Nigerians are not ready for them, we have too many lazy youths. All they think about is buying and selling dollars
ReplyDeleteThis is the most unintelligent statement online today
DeleteAll these talk above na Latin ooo!!! I no dey put money inside wetin I no understand
ReplyDeleteSame here
DeleteSo sad. People's source of income killed instantly 😭😭.
ReplyDeleteThey are not stopping Nigerians from trading, only trading in NGN.There must be a way around this.
DeleteMeanwhile if Naira was strong or Naija get better leaders ,why we go dey worry about Dollar
This source of income is contributing to speculation and increasing demand of Forex which further weakens the Naira hypocrites are complaining is going down instead of owing up to their destructive actions.
DeleteWhat binance sef. Never heard of it
ReplyDeleteThey helped money laundering a lot especially since 2020.Theyve been fined billions of dollars here too so they should go. I understand that they also help move legitimate transactions but their decision to run is because they don’t want to be checked or regulated.
ReplyDeleteAlways deceiving themselves..
ReplyDeleteThis was how they blamed Aboki FX then,.
They can continue chasing shadows and like they don't know the real thing.
Mtcheew
👍🏾
DeleteGovts are complaining about Binance all over th world so it’s not just Nigeria. They have laundered tens of billions of dollars and refuse to be regulated.
DeleteI know say I read the write up but I no understand wetin I read 😔
ReplyDeleteAnything I no dey benefits from is not my problem.
ReplyDeleteVery good .nigeria never ready yet greed course our leaders to demand for Independence in 1960 .
ReplyDelete