--- title: "Binance P2P in Nigeria 2026: What Changed and How Nosh Compares | Nosh" canonical_url: "https://usenosh.com/reviews/binance-p2p" content_source: rendered_html --- ![Binance P2P](https://usenosh.com/_next/image?url=%2Fassets%2Fimages%2Freviews%2Fbinance.webp&w=384&q=75&dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9)•[Binance P2P Review](https://usenosh.com/reviews) # Binance P2P review 2026 What Binance P2P still does, what changed for Nigerian users in 2024, and why most people now cash out somewhere else. Operator Binance Holdings Limited NGN P2P pairs Delisted 28 February 2024 All NGN services Discontinued by 8 March 2024 Leftover Naira balances Converted to USDT at ₦1,515.13 per USDT Nigerian licence None published; the SEC has called its operations unregistered Still available Crypto-to-crypto trading, and P2P in other currencies ## The short version * **Binance P2P:** The world's deepest crypto marketplace, with no Naira market since 2024. * **Nosh:** Send the coin, get Naira or Cedis. No merchant, no escrow, no waiting. ## Why people compare Binance P2P with other apps Most people looking at alternatives have hit one of three situations. * **There is no Naira market:** Binance removed every NGN pair from P2P in February 2024, so you cannot sell crypto for Naira there at all. * **Getting to the site is the first problem:** Nigerian networks have blocked the domain, and many users reach it only through a VPN. * **P2P means trusting a stranger:** On any P2P market the Naira comes from an individual's bank account, with escrow, chat and a release step in between. ## What Binance P2P does Binance P2P is a marketplace where you pick a merchant's advert, lock your crypto in escrow, wait for them to send local currency to your bank, then release the coins, which still works in many currencies but no longer in Naira, leaving Nigerian users with crypto-to-crypto trading and an off-platform step to reach cash. ## What changed for Nigerian users A short timeline, because this is the part that decides whether Binance is still an option for you. Holding a Binance account is not itself unlawful for individuals in Nigeria. What has gone is the Naira, and with it the reason most Nigerians used P2P. ## Binance P2P pros and cons Based on Binance's own announcements, current platform behaviour and published reporting. | Pros | Cons | | --- | --- | | The deepest liquidity and widest asset list of any exchange | No Naira market since February 2024, so no direct cash-out in Nigeria | | P2P still works in many other currencies, including for travellers | Site access is restricted on Nigerian networks, and many users rely on a VPN | | Zero platform fees on P2P trades where the market exists | Payment comes from an individual's account, with the dispute risk that carries | | Strong tooling: charts, derivatives, staking, a card in some markets | No Nigerian licence published, and ongoing legal proceedings | | Merchant ratings and escrow give some structure to each trade | Every trade needs a counterparty, a chat and a release step | ## What users say Traders still rate the platform. Nigerian users talk mostly about access and the missing Naira. | What users like | What users complain about | | --- | --- | | Liquidity - Any pair, any size, at any hour. | No way to reach Naira - Cashing out needs another platform. | | Zero P2P fees - Where a market exists, trading is free. | Access blocked - VPN needed on many Nigerian networks. | | Serious tooling - Charts and products no local app matches. | Merchant disputes - Delays and stalled releases on P2P generally. | ## Binance P2P vs Nosh: how they compare One is a marketplace you negotiate inside. The other is an off-ramp. These are the rows that decide it. | What differs | Binance P2P | Nosh | | --- | --- | --- | | Naira market | None since February 2024 | **Yes, and Cedis** | | Who pays you | An individual merchant | **The platform, from its own settlement** | | Steps to cash | Find advert, escrow, chat, confirm, release | **Send the coin, get paid** | | Access in Nigeria | Often blocked; VPN commonly needed | **App and web, no workaround** | | Assets and tools | **Hundreds of coins, charts, derivatives** | 8 coins, chosen for cashing out | | Gift cards and bills | Not part of P2P | **Gift cards, airtime, data, bills, eSIMs** | Checked 11 September 2026. The fuller breakdown is on the Nosh vs Binance P2P comparison page. ## Where each platform is ahead These two do different jobs, and since 2024 they barely overlap in Nigeria. ### Where Binance is ahead * **Scale and liquidity** the deepest order books in crypto * **Asset range** hundreds of coins, plus derivatives and staking * **P2P elsewhere** a working marketplace in many other currencies * **Zero P2P fees** where a local market exists ### Where Nosh is ahead * **It pays in Naira and Cedis** the thing Binance P2P stopped doing in Nigeria * **No counterparty** no merchant, no escrow, no release step * **One step to cash** send the coin and the money lands * **Cards and bills too** gift cards, airtime, data, betting top-ups and eSIMs ## Our verdict Still the biggest exchange in the world. Just not a way to get Naira. If you trade actively, Binance remains unmatched on liquidity, assets and tooling, and its P2P marketplace still works well in currencies it supports. In Nigeria, though, the thing most people used it for is gone: NGN pairs were delisted in February 2024, Naira services ended that March, and nothing since has brought them back, so a Nigerian user holding USDT has to move it somewhere else to reach cash. Even where P2P does run, the shape of it is the trade-off, because you are matched with a merchant, your coins sit in escrow, and you wait on a stranger's transfer before releasing them. Nosh replaces that whole sequence: send the coin to your address, and Naira or Cedis arrives in your bank without a counterparty, a chat or a release step. You don't have to close your Binance account to use Nosh. Many people hold and trade on an exchange, then move the coin to Nosh when they want money they can spend today. [Check the rate calculator](https://usenosh.com/rates)[Download the Nosh app](https://usenosh.com/reviews/binance-p2p#download-nosh) ## What People Also Ask About Binance P2P ### Does Binance P2P still work in Nigeria? Not for Naira. Binance delisted every NGN pair from P2P on 28 February 2024 and ended all Naira services by 8 March 2024. You can still hold an account and trade crypto for crypto, but there is no Naira market to sell into. ### Is it illegal to use Binance in Nigeria? Holding an account and owning crypto is not outlawed for individuals. Binance itself has no Nigerian licence published, the SEC has described its operations as unregistered, and legal proceedings are ongoing. We are not lawyers; if your situation is complicated, take proper advice. ### What happened to my Naira balance on Binance? Balances left after 8 March 2024 were converted to USDT at a rate of ₦1,515.13 per USDT, using an average of the last seven days of USDT/NGN pricing before the cut-off. ### How do I cash out crypto in Nigeria now? Move the coin to a platform that pays Naira directly. Nosh converts eight coins to Naira or Cedis and pays into your bank, with no merchant and no escrow in between. ### Why do people say P2P is risky? On a P2P market the money reaching your account comes from another individual rather than from the platform, so a disputed or reversed payment becomes your problem, and releasing coins before funds clear is the common way people lose them. Direct off-ramps pay from the platform's own settlement account instead. ### Will Naira trading come back on Binance? There has been no announcement restoring it. Settlement talks in the tax case have been reported, and commentators have speculated that a resolution could reopen Naira services, but nothing has been confirmed. ### Is Nosh a P2P platform? No. Nosh buys the crypto from you directly and pays from its own account, so there is no merchant to match with, no escrow to wait on, and no release step. ## See more reviews [All Reviews](https://usenosh.com/reviews) [![Breet](https://usenosh.com/_next/image?url=%2Fassets%2Fimages%2Freviews%2Fbreet.webp&w=256&q=75&dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9) ### Breet Review Crypto off-ramp in Nigeria and Ghana. Learn more![](https://usenosh.com/assets/images/reviews/chevron-right.svg?dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9) ](https://usenosh.com/reviews/breet)[![Monica](https://usenosh.com/_next/image?url=%2Fassets%2Fimages%2Freviews%2Fmonica.webp&w=384&q=75&dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9) ### Monica Review Crypto off-ramp built for speed. Learn more![](https://usenosh.com/assets/images/reviews/chevron-right.svg?dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9) ](https://usenosh.com/reviews/monica)[![Quidax](https://usenosh.com/_next/image?url=%2Fassets%2Fimages%2Freviews%2Fquidax.webp&w=384&q=75&dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9) ### Quidax Review Licensed exchange for trading and holding crypto. Learn more![](https://usenosh.com/assets/images/reviews/chevron-right.svg?dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9) ](https://usenosh.com/reviews/quidax) ## See what your card or coin is worth on Nosh Check the live rate for your gift card or crypto in the app before you trade. It's free to sign up. [Download the Nosh app](https://usenosh.com/reviews/binance-p2p#download-nosh) ## How we reviewed Binance P2P What we looked at, and where each figure came from. We used Binance's own announcements for the Naira delisting dates and the conversion rate applied to leftover balances, Nigerian news reporting for the regulatory position, and each platform's current published features for everything else. We did not open accounts, place trades, or time transactions ourselves. Everything was checked on 11 September 2026; this is a developing situation and any of it may change. Sources: Binance announcement on discontinuing NGN services · BusinessDay on the Naira withdrawal · Mariblock on the end of Naira support · Nairametrics on the CBN testimony · Vanguard on the tax settlement talks · Nosh crypto wallet ## Disclaimer **Who wrote this?** This review was written and published by Nosh (usenosh.com). Nosh competes with Binance for crypto cash-outs in Nigeria. We have tried to be accurate and to show where Binance is ahead, but you should read this as a comparison published by an interested party, not as independent research. **Why did we do this?** We regularly review and compare industry players to understand the market and identify ways to improve our services. This page shares our findings based on our research and observations. Show more **Where the information came from.** Dates, delisting details and the balance conversion rate come from Binance's own published announcements. The regulatory position comes from Nigerian news reporting, cited above. Feature comparisons come from each platform's current published information. Everything was checked on 11 September 2026. **Legal proceedings are ongoing and unresolved.** References to court cases, regulatory claims or allegations describe reported proceedings that have not concluded. Allegations are not findings, Binance has denied wrongdoing in the tax case, and nothing here should be read as a statement that any party has been found liable. **Things change, and this situation especially.** Market availability, currency support, site access and legal status can change at any time and without notice. Confirm the current position with each platform before acting on anything here. **Not advice.** Nothing here is financial, investment, tax or legal advice, and it is not a recommendation to buy, sell or hold any asset, including cryptocurrency. Crypto values are volatile and you can lose money. You are responsible for your own decisions and for meeting any identity verification or tax obligations that apply to you, including those introduced for digital assets in Nigeria. **Trademarks.** Binance and all other brand names, logos and trademarks mentioned belong to their respective owners and are used here for identification and comparison only. Nosh is not affiliated with, endorsed by, or sponsored by Binance or any other platform named on this page. **Corrections.** If you work at Binance or spot something inaccurate or out of date, contact us at **Note.** and we will review and correct it. **Corrections.** If you work at Binance P2P or spot something inaccurate or out of date, contact us at [help@usenosh.com](mailto:help@usenosh.com) and we will review and correct it. ## Download NOSH App Get the APP today to start enjoying amazing deals with **#TopNoshExperience.** [ Download on theApp Store ](https://apple.co/3UVMaj4)[ Get it onGoogle Play ](https://play.google.com/store/apps/details?id=ng.nosh) Over 1M+ downloads ![](https://usenosh.com/_next/image?url=%2Fassets%2Fimages%2Fnew-app.webp&w=3840&q=75&dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9)![](https://usenosh.com/_next/image?url=%2Fassets%2Fimages%2Fnew-mobile-app.webp&w=3840&q=75&dpl=dpl_FpmzmdzBntsfmUC6PUVLpuAmthA9)