Want to withdraw Naira from Binance? Then this post is for you, Recently Binance added Nigerian Naira as the first Fiat currency on their platform. This was made possible by partnering with Flutterwave.
And since then people have been asking how they can Withdraw bitcoin to Nigerian Naira on Binance.
Warning: This article covers all the steps you need to easily exchange any crypto to Naira and withdraw the Naira to your Nigerian bank account from Binance.
So I strongly urge you to read every text to avoid making any mistakes while trying to withdraw your funds.
without further delay let’s get started.
withdraw Naira from Binance
Binance is a popular Cryptocurrency exchange.
You can buy Crypto with Naira and also withdraw your crypto to Naira. With the help of this article.
Currently, there are just three trading pairs for Naira.
which are:
- Bitcoin to NAIRA ( BTC/NGN ).
- Binance USD to Naira ( BUSD/NGN ).
- Binance coin to Naira ( BNB/NGN ).
hopefully, more trading pairs are going to be added.
Trading pairs are two currencies that are exchangeable for each other.
In case you don’t already own a Binance account Click here to register. It’s Free of charge.
Steps to withdraw Naira from Binance
To withdraw your Cryptocurrency from Binance to your Nigerian bank account. you first need to exchange it to Naira and the only way to do that is by trading the above-listed pairs for naira.
Update: Binance no longer supports direct Naira withdrawal since early 2021 when the Nigeria Government went anti-crypto. Read How to buy Tron In Nigeria to know how to use Binance p2p.
For example, you have Ethereum on your Binance wallet. and want to withdraw it to your Nigerian bank account.
First, you need to either Sell that Ethereum for bitcoin or the other two trading pairs. being Binance USD or Binance Coin.
After Selling your Ethereum or the crypto you want to withdraw for Bitcoin.
The next step is to trade BTC for Naira ( BTC/NGN ).
So search NGN and the three trading pairs will show, see image below for an example.
Choose BTC/NGN or any of the 3 trading pair your coins are exchanged for.
What Can I Do With My Bitcoin?
The next step is to sell your crypto in exchange for Naira.
Input the amount of BTC you want to exchange for naira then click Sell.
Now you have Naira on Binance.
Things to note
- while trying to withdraw to Naira is that it only works on the Binance Web Version.
I tried the mobile version to withdraw but I didn’t get an option to put my bank details. So I contacted Changpeng ( Binance CEO ) on Instagram and the image below was our conversation.
So Login your Binance account on your Computer or PC if you really want to withdraw.
Update: this method no longer works, You can easily trade crypto with us by clicking the whatsapp icon on the bottom right corner.
Step 2: Now that you have Naira and ready to withdraw. The next thing you need to do is go to the top right side and place your mouse pointer on Wallet.
Then Click the Spot wallet.
A new page looking like the image below will open Click Withdraw.
On the Withdrawal page BTC is there on Default, Click BTC and type NGN to select Naira.
The next page will display for you to enter the amount you wish to withdraw and your method of withdrawal then click Next.
After clicking next, a new page will display for you to enter your bank account details and I hope you used your real name to create the Binance account.
Fill in your correct information, Select your bank and type in your account number.
After filling all your correct bank account details, Click Submit and that is it.
Your withdrawal request will be reviewed and sent to your bank account by Flutterwave, It might take up to 2 working days or less.
binance Naira withdrawal limit
On the withdrawal page, the Minimum withdrawal amount for naira is N5,000 (Five thousand Naira ) while the Maximum withdrawal is N18,000,000 ( Eighteen Million naira )
Naira withdrawal fee
Binance has a fixed fee of N150 per Withdrawal. No matter the amount you need to withdraw, you only get charged N150 for it.
So this is everything you need to know about How to withdraw Naira from Binance easily.
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