Binance P2P is down!: A new way to withdraw your USDT to FIAT
I came online only to see messages about the Binance p2p ban, Is it banned? or not just working? I do not really know but what I know is that our government believes Binance is the reason why the Naira is pumping and they want Binance to regulate the amount of Naira/USDT to 1400 which is Impossible.
So everyone woke up to not being able to trade their Naira to Fiat on Binance P2p today and some were worried about how they are going to turn their money to Fiat. Worry not because Binance is just one of the many exchanges that support P2p.
I was checking the list of exchanges Hive is listed and I got to know that Hive is in 13 exchanges or even more but my network was bad and I could not explore all. but you can check them out here
I have used Gate.io to trade hive but unfortunately, it has no P2p so it is as useless as Binance right now, same as Huobi too.
The exchange that supports naira P2p as of now is Bybit but Hive is not yet listed there. So what to do?
Deposit your Hive to Binance, convert it to USDT, and transfer/withdraw the USDT to Bybit using the Bep20 network as it costs less fee.
The screenshot above was what I got for converting 40 hives to usdt then I withdrew it to Bybit.
The page above will show if you click on the USDT in your wallet and one of the options there is P2p Trading, Click it and it will take you to the next page below.
If you are familiar with how Binance p2p works, then this should not be a problem for you because the steps are similar.
The places I circled are what you need to take notice of.
Amount : you can use that to filter the amount of naira you are selling to save yourself from scrolling for a long time to see a buyer.
Limits: This shows the minimum and maximum amount that a buyer is ready to buy from you.
- Bank Transfer: Some buyers choose to pay a certain bank account and you will see it but if it is just a bank transfer that is written, it means they pay all banks unless they add it to their terms they are not paying a particular bank probably due to network issue.
Lastly click on sell, enter your desired bank account that you want to receive the Fiat, and wait till the money is reflected in your bank before clicking payment received.
I hope this solves the Binance p2p not working, if you have any questions or you do not understand some part of my explanation, feel free to drop a comment.
Just call me Burl.
I am a professional gamer, motivational speaker and a crypto enthusiast
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This isn't good but Bybit is also a good exchange. It's a reliable name after Binance
@sagarkothari88 vote
many people are making use of Bybit now and am also starting to love the exchange, our government failed to realize binance is not the reason for our currency inflation.
Agree that an exchange can not be the reason for currency inflation.
Our Government thinks they are smart but we Nigerians are more smarter than them. They cannot close our hustling way na. Lol
We must always find an alternative. Thanks for sharing this guide. I should now download Bybit after getting the guides on how to trade my sweet earned Hive 😄
There will always be a way to cash out our crypto, it can't be banned....
Don't forget hive is not listed on Bybit, you need to convert to usdt on Binance first
I trust my naija peeps to always find a way out to issues like this. Naturally we are hustlers and our hustle must continue to pay without restrictions
Thanks for sharing this burl
abi, all way na way, as long as we can cash out our money
Ouch 🤕 it's seems bad. I can help you if you need inr for crypto...
P2P banned. It's not good. The process you described is good and will work well but you need to pay some extra transaction fee for transaction from the Binance to Bybit.
it is not much, not upto 0.5$, as long as you use the bep20 network
Hmmm I just used binance this morning to trade Hive I didn't experiences this issues oo, Nigeria government should better look for what is the root cause of the inflation and depletion of naira and leave crypto out of this, they have done enough damage to young people already
you should check again now, it has been disabled. bunch of clowns ruling us
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In our country, this feature is currently working for Binance and we are withdrawing our money in the same way, but if something like this happens, you have told us another way, thank you very much.