You can still withdraw your crypto funds into your account with Binance P2P

Earlier, CBN released a new policy on cryptocurrency, which made funding of account on Binance difficult as they have disabled Naira transaction on their platform but you can still make withdrawal.

Do not panic your coins are safe, now here is a trick to leverage on. We all know Binance uses a third party payment gateway and those parties are regulated by the finance body of Nigeria, so this is the reason why they disable all transactions in Naira.

With or without the CBN's Crypto policy you can still withdraw your crypto fund into your account with Binance P2P.

P2P (peer-to-peer) is a trading market where you can safely trade cryptocurrency in exchange.

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How does Binance P2P escrow service work

Step 1: Place your order

Place an order to buy or sell cryptocurrency. The cryptocurrency will be held by Binance P2P temporarily until the the operation is successfully completed.

Step 2: Start a conversation

Start a conversation with the seller and buyer. When you are trading with a counterpart that you do not know, we recommend that you use the chat to communicate with him/her. The chat history will be essential if there is a dispute with your counterpart and you, make an appeal.

Step 3: Make the payment or release the cryptocurrencies

If you are a buyer, make the payment and notify the seller that you completed the payment. Click the ‘confirm’ button to notify the seller that you made the payment. If you are a seller, wait for the buyer's payment confirmation before releasing the crypto.


In most cases, when everything goes smoothly, the buyer pays and the seller releases the crypto, but what happens if to counterpart was not fair? In other words, the buyer do not transfer the money or thw seller did not releases the crypto after the buyer made the payment. 

In these case you need to open an appeal, click on the “appeal” button. Now is when the escrow service comes into play and this is why the crypto was temporarily held.

How does Binance P2P escrow service help crypto sellers? 


How does Binance P2P escrow service help buyers?


Why is the escrow service so important?





Frequently Asked Questions about the Binance P2P escrow service 








Its not a must to have money in your Binance account to make transfer to a buyer account. A bank transfer to the buyer's account will work and when you are transferring the money from your bank during P2P don't type anything crypto related in the description. Kindly talk to a binance representative for clearer info.

2-Minutes video on using P2P


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