By: Damian Okonkwo
The craze for Crypto currency in Africa could not in the least be quenched by banning the banks from facilitating Crypto currency transactions. Binance has therefore remained resilient and emerged the best exchange that has continuously provided the opportunity for trading Crypto currency across the African continent through the provision of a reliable P2P platforms that allows traders buy and sell Crypto currency without involving the bank or any other regulatory body.
Binance exchange which was launched in 2017 by the Chinese founder Changing Zhao has remained one of the world’s top crypto exchanges in terms of liquidity provisions and reliability. Binance has made great progress since it's launch in 2017 and currently has over 810 different cryptocurrency pairs already listed and traded on the exchange.
On the other hand, Binance P2P was launched in October 2019 and over 100 payment options like Bank transfer, ChipperCash, and PayPal being supported on Binance P2P. With the ban on Crypto currency by the CBN excluding the banks from allowing the use of digital cards to buy Crypto from any Crypto exchange, Binance provided itself the African leading Crypto exchange by providing highly scrutinized P2P platforms for Africans to buy and sell their Crypto. The basic cryptocurrencies supported on Binance p2p are USDT, BTC, BUSD, BNB, ETH, and DAI.
Unlike the banks, Binance p2p platforms demand virtually no charge for buying and selling Crypto Currencies. This means that you are charged zero fees for posting offers or transacting on Binance P2P.
Similarly, Binance also offers a secure layer of protection for your transactions by validating all Binance P2P users via a strong KYC verification and further places limitations on unverified accounts.
Moreover, before any transaction is approved, Binance ensures all such transactions has been carried out by the owner of the account by sending a verification code to the registered phone number and email address. This is to confirm that the account have not been hacked.