Binance, a company that helps people buy and sell cryptocurrencies like Bitcoin, is stopping its services in Nigeria. This is because of some disagreements with the rules in Nigeria about cryptocurrencies.
If you have money in Nigerian Naira in your Binance account, it will automatically change to USDT, another type of cryptocurrency, starting from March 8th. But, you won’t be able to add any more Naira money to your account after today. And, if you want to take your money out, you need to do it before March 8th.
Posting on its official website on Tuesday, Binance also said that the exchange rate for changing Naira to USDT will be 1 USDT for every 1,515.13 Naira.
After March 7th, you won’t be able to trade Naira for other cryptocurrencies on Binance. If you have any open trades involving Naira, they will be finished automatically.
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