Binance recently added a cash transfer feature that allows users with a Binance account to easily and freely transfer cash to anyone, both within and outside Binance. For Nigerian users, the company has now added the ability to transfer Naira cash freely from wallet-to-wallet as a payment option when buying crypto on the platform.
This means you can now buy Bitcoin or other digital currencies on Binance P2P with your NGN fiat balance easily. The NGN cash transfer feature is instant and secure and happens within the Binance ecosystem. Considering that Binance P2P has zero fees, Binance has unlocked one more opportunity for Nigerian users to easily and cost-effectively buy and sell Bitcoin.
The cash transfer function allows both Binance and non-Binance users to send cash to friends and family anytime for free using either their phone number or email address. The new functionality removes the need for third parties when sending money. When non-Binance users receive the funds on their phone or email, they will get a link that prompts them to signup and instantly withdraw the funds.
In April, we told you about the launch of a social payments app for African users by Binance. The app, named Bundle, serves as a social payment app for fiat money and cryptocurrencies. It started in Nigeria, and now is officially launched in Ghana. This means that users can now easily buy and sell crypto on the app in the West African nation.