Binance Bids Adieu to Nigeria – No More NGN Trading

Bad news, folks! Binance, the giant in the world of crypto exchanges, is saying goodbye to Nigeria! They just dropped the bomb that they’re putting an end to all services related to the Nigerian naira (NGN). Here’s the scoop with some important dates to stick in your memory:

– March 5: No more NGN deposits
– March 7: Sayonara to NGN trading pairs
– March 8: NGN withdrawals stop, and any leftover cash magically turns into USDT

Now, if you’ve got NGN hanging out in your Binance account, it’s time to make a move. The advice is clear: withdraw it, trade it, or convert it to something else before the curtain falls on these services. Oh, and heads up – Binance Pay is also ditching NGN on March 6. Farewell, naira!

Binance bids farewell to Nigeria. No more nigerian naira trading

In a message straight to the Binance traders, they spilled the beans:
Binance is hitting the brakes on all things Nigerian Naira (NGN), following this timeline we’re laying out.
The friendly suggestion? Get that NGN out of there, trade it, or switch it up for some crypto goodness before we flip the switch on NGN services.

Hold up, though, this only affects NGN – you can still roll with other cryptocurrencies for all your Binance fun and games.
• No more NGN deposits after 2024-03-05 14:00 (UTC).
• Binance Auto-Invest gives NGN the boot after 2024-03-06 03:00 (UTC).
• NGN gets the ax from BinancePay’s list of pals on 2024-03-06 03:00 (UTC).
• Binance Convert waves goodbye to NGN and its crew by 2024-03-07 02:00 (UTC).
• NGN Spot Trading pairs, like BTC/NGN and USDT/NGN, vanish into thin air by 2024-03-07 03:00 (UTC).
• No more support for NGN withdrawals after 2024-03-08 06:00 (UTC).

And here’s a little twist – Binance will convert any leftover NGN in your Spot and Funding wallets into USDT at a cool ratio of 1 USDT = 1,515.13 NGN after 2024-03-08 08:00 (UTC).

Okay, it’s a bit of a bummer, we know. But here’s the million-dollar question: while all this is going on, has the value of the naira against the dollar shot up? What’s the word on the financial street?

The post Binance Bids Adieu to Nigeria – No More NGN Trading appeared first on Wealth Creation.

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