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How to Trade CryptoCurrencies on Binance Exchange: Buy and Sell with Nigerian Naira
New User:Click Here to Create a free Binance Account and Verification
MEANS OF ID
Already have a Binance account - Proceed to STAGE 2
mouse to TRADE and click on P2P
default currency (CNY) to Nigeria NAIRA
· RISK NOTICE will pop up to avoid scammers
in the box to agree the content
on CONFIRM to take you to the BUY / SELL page
BUY button will be selected by default.
the buy / sell page, search for a seller with a yellow badge icon, a high number of
orders, selling limit that covers the amount you are paying and how
soon they can complete your transaction or order.
BADGE is a confirmation that the seller is verified by Binance
and has a vast experience in P2P. Also, click on the seller's name to check whether
the seller has 10BNB security deposit.
FOR EXAMPLE, an advertiser
or seller has 1806 orders, with 98.69% completion rate. Other sellers
could have 99.54% completion. So, you would need to decide your
preference or choice.
on your preferred seller or advertiser.
the average release time - (This is the duration of when your purchase
will be released)
on the green
USDT button at the
bottom right of the page.
will take you to a page where the seller’s account details, and
phone number will be displayed.
the VOLUME of USDT you are buying, and the NAIRA
equivalent will be displayed.
IMPORTANT - Use the
chat box to contact the vendor to see whether they are online or put a
call across to them in order to ask any relevant questions regarding
your transaction before making payment.
POINT TO NOTE
You must at no time, refer to CRYPTOS or CRYPTOCURRENCY or DIGITAL
CURRENCY OR VIRTUAL CURRENCY when making your payment.
to make payment into the seller’s account via bank transfer once you
have agreed the transaction with the seller.
do not write anything CRYPTOS as the purpose of the transfer
when making payment
payment has been made,
on CONFIRM from the pop-up screen
Wait for some seconds and you will receive a message on your phone, laptop, or PC screen.
ticking, time is almost running out and I am yet to receive my USDT
Click on APPEAL, if you do not
receive your USDT with the displayed timescale.
The advice is to click on appeal just
before the clock runs out, or the expiration of the timescale.
You will need to provide Binance with
proof of your payment to the seller.
Your appeal will be resolved by BINANCE
ESCROW, as long as it is lodged before the end of the displayed
Once you have appealed, under no
circumstances must you cancel the appeal, until you have seen the USDT
in your Crypto account.
is another option to be considered.
BETWEEN P2P AND P2P EXPRESS
P2P has different sellers who are
competent and it allows you to choose your preferred seller.
does not allow you to select a seller, rather, Binance system would do
the selection and automatically merge you with the seller in order for
transaction to take place.
· Transfer your USDT from P2P to SPOT WALLET and then place a TRADE.
Here, for further tutorial on how to trade on Binance.
CRYPTOCURRENCY INVESTMENT RISKS
investments has risks and digital currency is no exception.
of the risks in digital currency investment are as follows:
· The exchange / platform / website holding your
digital currencies or cryptos could disappear or shut down, resulting
in the loss of all your cryptos. An example of such an exchange is MTGOX.
· You could misplace the private key to your wallet
To avoid this, it is advisable to move your money to a private wallet outside the Crypto exchange.
Sending Crypto is irreversible
Before you send Bitcoin
(BTC) or any CryptoCurrency to recipient, please make sure
You're sending to
the correct wallet address.
by Sarah Uwajeh for 247broadstreet.com
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