• At this critical time, Binance didn’t step back to play its role in crypto trading all over Africa.
• Unfortunately, neither Binance nor any other crypto exchange like immediate bitcoin software offers a myriad of payment methods
Image: BINANCE
If you have ever read about bitcoin, then you will probably know what bitcoin and its immense contribution to bitcoin trading.
But if not then you must know that Binance is the world’s biggest bitcoin exchange in the volume by highest trading volume all over the world.
It rules over nearly all the crypto-rich countries but crypto traders in Africa have recorded to have the highest use of Binance for numerous crypto benefits.
However, the recent public notice issued by the government has led to the shutdown of nearly every crypto exchange in Africa.
At this critical time, Binance didn’t step back to play its role in crypto trading all over Africa. Unfortunately, neither Binance nor any other crypto exchange like immediate bitcoin software offers a myriad of payment methods
However, M-Pesa - a globally accepted mobile money transfer service has acquired immense popularity in Africa. Yet, it is also listed as a suitable payment method on nearly every crypto exchange in Africa.
But, it’s still an undecided question to know if Binance accepts payments through M-Pesa or not.
So, the answer is clear. The recent statement by Binance clearly says that they have started accepting all the M-payments done through P2P trading.
In addition, they also allowed their customers to instantly bitcoin in Kenya and pay through M-Pesa to anyone in the world.
Not only bitcoin, but Binance has expanded its use to other cryptocurrencies including Ethereum, EOS, BUSD, etc too at zero transaction fees.
This definitely proved as a major golden opportunity for traders who couldn’t trade cryptocurrency due to high- transaction fees for crypto services in Africa. After announcing this change in their policy, Binance could observe a noticeable difference in the profit margin from a rising up to 1 per cent to 3 per cent alone in Africa.
Not only M-Pesa but Binance announced the acceptance of 62 payment methods on its platform. From direct buying and selling cryptocurrency to ensuring safe, secure, and effective payments, it has been a major helping hand to traders who were struggling with transacting their money all around the world.
Africa has recently experienced a major surge in the prices of cryptocurrency. From bitcoin, Ethereum, Ripple to many other cryptocurrencies, Africa has seen a 30 times more increase in crypto trading, mining, and other crypto uses.
Binance has been doing pretty good in cryptocurrency ever since its introduction and spread all over the globe. The service promises its customers to serve with reliability, affordability, and easy accessibility to numerous mobile-friendly payment methods.
From Nigeria, Kenya, South Africa, and all other major regions of Africa, cryptocurrency and especially bitcoin trading has broken records in the continent. In the light of this staggering crypto growth and total trading of over $50 million, this new yet incredible modification in the working of Binance proved pretty profitable for crypto trading in Africa.
Binance P2P platform along with other benefits provided by Binance made it a leading crypto service provider in the country regardless of the circumstances.
As per the latest updates from Binance about the acceptance of M-Pesa payments, we can predict that the country is all set to shift towards Binance in search of the fastest, credible, and effective mobile payments all across the globe.
Now the crypto traders in Kenya have to no longer reach out to banks and pay high taxes but can simply do mobile payments remotely. At the present time, Binance secures the 3rd position in the list of successful P2P platforms especially in Nigeria, Kenya, and South Africa.
Conclusion:
This was a brief summary of the latest change that Binance has announced to promote crypto growth in Africa with minimized risks, hassles, and the possibility of losing your hard-earned money. Binance is already considered a reputable exchange platform and the addition of the M-Pesa payment method has done wonders in the crypto-trading of Africa crypto enthusiasts.