When Binance returns, will you return back?

[Charles-Tim]

You're absolutely right, investors still make use of binance irrespective of the fact that they cannot make fiat pop transactions due to the restrictions set by the government.

But it is good to know that if you want to hold your coins, it is better you move the coins out of exchanges to noncustodial wallet because if it is not your key, it is not your coins. Although, there are other investments means like staking which I will also prefer to use a noncustodial wallet for instead. As for other means of investment, I prefer not to go for them.

Till date, I'm still a fan of binance, I'm  absolutely used to its interface and the reputation it has acquired so far, amongst all exchanges I prefer binance to the rest and if they start working again in Nigeria, I wouldn't mind going back to using their services.

There are other exchanges with interface better like Binance. There are others that I prefer their interface than Binance. There are many exchanges that are as good as Binance.

[Makus]

But it is good to know that if you want to hold your coins, it is better you move the coins out of exchanges to noncustodial wallet because if it is not your key, it is not your coins. Although, there are other investments means like staking which I will also prefer to use a noncustodial wallet for instead. As for other means of investment, I prefer not to go for them.

Normally, person no suppose to keep em coins for exchange for any reason, as the name emply just use am comet body, last the the ratio of scam on exchanges really serious  and that na eye opener to everybody so that we go know say e no dey safe to keep money for there. Exchanges na one of the biggest target to hackers and if them fit get anyone down, dem don hit the jackpot be that, because no be small tin wey dem go remove for inside. E dey very good ro take precautionary measure than to try to solve the problem when e don burst, a word is enough for the wise.

With all the exchanges qey I don try so far, na binance be the best, and I love their simplicity.

[Cryptsafe]

But it is good to know that if you want to hold your coins, it is better you move the coins out of exchanges to noncustodial wallet because if it is not your key, it is not your coins. Although, there are other investments means like staking which I will also prefer to use a noncustodial wallet for instead. As for other means of investment, I prefer not to go for them.

Normally, person no suppose to keep em coins for exchange for any reason, as the name emply just use am comet body, last the the ratio of scam on exchanges really serious  and that na eye opener to everybody so that we go know say e no dey safe to keep money for there. Exchanges na one of the biggest target to hackers and if them fit get anyone down, dem don hit the jackpot be that, because no be small tin wey dem go remove for inside. E dey very good ro take precautionary measure than to try to solve the problem when e don burst, a word is enough for the wise.

With all the exchanges qey I don try so far, na binance be the best, and I love their simplicity.

E no ever dey advisable to keep your assets for third party exchange. Third party exchange no get security guarantee for their customers account. As of early this year, exchange suffer serious hack from hackers and so far, people lost their assets and funds which resulted to frustration and lots more.
The slogan "Not your keys not your coin" is very much active. It was formulated so that buyers more especially the newbies in the system would have knowledge about the safety of their assets. After seeing that for free, they should be able to differentiate and decipher where best to hold their assets.

[Makus]

If those newbies really do their home work and learn bitcoin well before them start to hold or trade, them no supposed to get issues with wallet because for wallet security article wey I don read, them dey always state the importance of non custodial wallet as the best choice to keep your coin as a beginner or for small coins,  but if you want keep really large number of coins, you are advised to use a hardware wallet, for top notch security. So any newbie wey carry strong head go keep em coin for exchange, na em sabi. Because when something go sup so, e no go fit blame anybody. Aside hack sef, some exchange dey block some accounts due to violation of rules and if your money dey inside, that on don go for life.

[SamReomo]

There are other exchanges with interface better like Binance. There are others that I prefer their interface than Binance. There are many exchanges that are as good as Binance.

Yes, I agree that there are other exchanges that have better interface than Binance and it's also true that there are a few other exchanges similarly good as Binance but most crypto users still prefer to use Binance for trading as it's most convenient for them.

I personally use Binance for trading and or for purchasing of coins for long-term holding and so far I haven't faced any issue with them. However, I must tell that the whenever I purchase coins for long-term holding I withdraw those to my personal wallets for the sake of security.

[Sim_card]

There are other exchanges with interface better like Binance. There are others that I prefer their interface than Binance. There are many exchanges that are as good as Binance.

Yes, I agree that there are other exchanges that have better interface than Binance and it's also true that there are a few other exchanges similarly good as Binance but most crypto users still prefer to use Binance for trading as it's most convenient for them.

I personally use Binance for trading and or for purchasing of coins for long-term holding and so far I haven't faced any issue with them. However, I must tell that the whenever I purchase coins for long-term holding I withdraw those to my personal wallets for the sake of security.

Yea, Binance is my favorite and I have a good trust on them than any other exchange which I don't know why is it like that maybe because I am use to them. I only trade and swap coins with Binance while my bitcoin for long term hodli is lying in my noncustodial wallet because that is only where it is safe. It is only traders that should keep their coins in exchanges for easy trade and not investors and hodlers.

[MainIbem]

Yea, Binance is my favorite and I have a good trust on them than any other exchange which I don't know why is it like that maybe because I am use to them. I only trade and swap coins with Binance while my bitcoin for long term hodli is lying in my noncustodial wallet because that is only where it is safe. It is only traders that should keep their coins in exchanges for easy trade and not investors and hodlers.

I think it was the majorities favourite given that it was the leading exchange in Nigeria before the P2P ban, i miss binance a lot, I could remember they had the best rate for P2P trading, they were also customer friendly and transparent and made it easier for trading compared to other exchanges. I think you did a good job by saving holding your asset in a non-custodial wallet even though you could've just secure the exchanges you're using with a 2FA but being on a safer side, the non-custodial wallet is the best option for long-term savings of cryptocurrencies.

[Fivestar4everMVP]

Yea, Binance is my favorite and I have a good trust on them than any other exchange which I don't know why is it like that maybe because I am use to them. I only trade and swap coins with Binance while my bitcoin for long term hodli is lying in my noncustodial wallet because that is only where it is safe. It is only traders that should keep their coins in exchanges for easy trade and not investors and hodlers.

I think it was the majorities favourite given that it was the leading exchange in Nigeria before the P2P ban, i miss binance a lot, I could remember they had the best rate for P2P trading, they were also customer friendly and transparent and made it easier for trading compared to other exchanges. I think you did a good job by saving holding your asset in a non-custodial wallet even though you could've just secure the exchanges you're using with a 2FA but being on a safer side, the non-custodial wallet is the best option for long-term savings of cryptocurrencies.

Yeah, +1 Karma (your very first actually) for such a good comment, every Nigerian who have been in crypto; and have used Binance before the p2p ban on the platform will attest to the fact that Binance was simply the best of them all, I can't recount how many times I've tried to leave Binance to focus on transacting on other p2p platforms like Remitano (specially, since this is actually the very first platform I used for cashing out my very first earning from crypto through their p2p platform, followed by Luno) but I couldn't because, Binance p2p was not only fast, it was flawless and the app breezes like heavy wind, no dull moment specially if you are using a high end device.

I personally have no doubt that if Binance will reopen their p2p exchange for Nigerians again, many, if not all, will return back there, as long as they don't impose any useless fees like what kucoin have done.

[Coyster]

If binance returns to Nigeria, so many Nigerians will definitely resume using it, some Nigerians are still using it today, just not for p2p trading. So if Binance ever lists Naira again, i am pretty sure Nigerians will run back to it, it is the favorite for most Nigerians.

[Cantsay]

I personally have no doubt that if Binance will reopen their p2p exchange for Nigerians again, many, if not all, will return back there, as long as they don't impose any useless fees like what kucoin have done.

I’ve fallen in love with Bybit’s P2P - in Binance there are merchants that have time limit of up to 1 hour before you can cancel your trade (if they decide not to go on with it) but in Bybit the maximum  have seen so far is 30 minutes - so even if the merchant misbehaves you won’t have to wait for a whole 1 hour before the trade cancellation. I might continue using bybit even if Binance comes back again.

[Sim_card]

I personally have no doubt that if Binance will reopen their p2p exchange for Nigerians again, many, if not all, will return back there, as long as they don't impose any useless fees like what kucoin have done.

I’ve fallen in love with Bybit’s P2P - in Binance there are merchants that have time limit of up to 1 hour before you can cancel your trade (if they decide not to go on with it) but in Bybit the maximum  have seen so far is 30 minutes - so even if the merchant misbehaves you won’t have to wait for a whole 1 hour before the trade cancellation. I might continue using bybit even if Binance comes back again.

I don't like Bybit because of their fake ads and not being serious to do business. You will click on different ads and might still not have the right trader that you will trade with. You will end up wasting your time before you can make a trade. It sucks and very annoying when I am using Bybit. I prefer Bitget than Bybit because their p2p Naira trade is fast and sharp but I don't think that you can cancel the order that you made.

[Hatchy]

Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?

There's a chance that binance might return to Nigeria. But then our government might have to let go of their grudge with the p2p market. I still use binance up till now for some other trading services they offer. When I need to remove funds I just send them using usdt or other crypto pairs to bybit for conversion to naira. But then I know very well that Nigerians will be very glad to welcome back binance in the future as they offer easy to use services compared to other centralized exchanges out their.

[SmartGold01]

Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?

There's a chance that binance might return to Nigeria. But then our government might have to let go of their grudge with the p2p market. I still use binance up till now for some other trading services they offer. When I need to remove funds I just send them using usdt or other crypto pairs to bybit for conversion to naira. But then I know very well that Nigerians will be very glad to welcome back binance in the future as they offer easy to use services compared to other centralized exchanges out their.

Binance is a very nice exchange and I love using it for various activities such as day trading and scalping it's really helpful and easy to use because it's user friendly, what I mostly like from Binance is that their kyc is very easy to go. Unlike other exchange that took time to verify their customers and many of them hardly verify people with their NIN or BVN since is the easiest way of our verification.

[Cryptsafe]

If binance returns to Nigeria, so many Nigerians will definitely resume using it, some Nigerians are still using it today, just not for p2p trading. So if Binance ever lists Naira again, i am pretty sure Nigerians will run back to it, it is the favorite for most Nigerians.

No doubt all you have said. Majority of Nigerians are kind of used to trading with binance as it is one of the most popular platform in the country and they have a good reputation already built. Not only that,   Let me just say this that binance made their platform so easy as ABC that their p2p can be very much easier to navigate through. Very much self explanatory that even the least person on Crypto space can use it without much supervision.

[Mia Chloe]

I like how India dealt with these exchanges, unlike what Nigeria did. Binance later negotiated to pay $2 million fine to get registered in India.

Back to the discussion. I have many exchanges that I am using. It will just be like how I was before, before Binance banned P2P transactions for Nigerians.

Worth to know that Nigerians are still making use of Binance through the mobile app. Only the P2P is what we do not have access to.

Personally I don't think what the Nigerian government did to binance was necessary. Of course majority of infact almost all exchanges or transactions carried out on these exchanges are done or valued in dollar. That to me doesn't necessarily mean that it's the reason for the constant devaluation of Naira for a very long time now. I think the government just did what they felt like doing rather than looking into the bigger problem.
I think the biggest factor that resulted in the devaluation of Naira was our dependence on imported products now this is a problem because majority of those exchanges are done in dollar thus appreciating Dollar and devaluing Nsira