How to Convert Naira to Dollar Using Binance or Other Apps

In today’s fast-paced digital world, the need to convert Naira (₦) to US Dollars ($) has become more relevant than ever, especially for Nigerians navigating both local and global financial landscapes.

With Nigeria being one of the leading tech and freelancing hubs in Africa, more individuals and businesses are finding it necessary to operate in both Naira and USD for various economic and practical reasons.

One of the most common motivations for converting Naira to USD is the need to pay for online services such as web hosting, domain registration, international courses, or digital tools like Canva, ChatGPT, Adobe Creative Cloud, and more.

These platforms often bill in USD, making currency conversion not just a convenience but a necessity. Freelancers and remote workers who receive payments from platforms like Upwork, Fiverr, or direct international clients also need to either receive or convert their funds into USD to fully maximize the value of their earnings, especially in the face of fluctuating Naira exchange rates.

Another growing reason for converting to USD is the desire to save or invest in dollars. With the persistent depreciation of the Naira, many Nigerians are turning to dollar savings as a more stable store of value. This strategy helps to hedge against inflation and preserve wealth over time.

To meet these needs effectively, digital platforms like Binance, Paxful, KuCoin, and other peer-to-peer (P2P) exchange apps have become indispensable. Binance, in particular, offers a user-friendly P2P feature that allows users to convert Naira to USD (in the form of USDT or other stablecoins) with minimal fees and direct local bank transfers. These platforms offer speed, flexibility, and competitive exchange rates, making them reliable tools for anyone looking to participate in the global economy.

As financial borders continue to blur, having the ability to convert Naira to USD seamlessly is no longer a luxury—it’s a necessity for staying connected, competitive, and financially secure in a globalized digital world.

Why Use Binance or Similar Apps for Currency Conversion?

When it comes to converting Naira to USD, using trusted platforms like Binance offers significant advantages over traditional banks or informal currency exchangers.

These apps have become popular among Nigerians due to their convenience, speed, security, and ability to provide more favorable exchange rates. Whether you’re a freelancer, digital entrepreneur, investor, or online shopper, understanding the benefits of these platforms can help you make smarter financial decisions.

1. Better Exchange Rates Than Traditional Channels

One of the biggest reasons many Nigerians are turning to Binance and similar apps is the access to better exchange rates. Unlike banks that offer rigid and often unfavorable FX rates, Binance uses a peer-to-peer (P2P) model where buyers and sellers can negotiate and choose competitive rates. This can help users get more value for their money, especially when converting large sums or conducting frequent transactions.

2. Fast, Convenient, and Secure Transactions

Speed and security are critical when dealing with foreign currency, especially online. Binance offers fast processing times—most P2P transactions are completed within minutes.

The app also has a secure escrow system that holds funds until both parties have confirmed the transaction, which reduces the risk of fraud. In addition, Binance provides two-factor authentication (2FA), identity verification (KYC), and other security features to protect users’ accounts and assets.

3. Access to USD Stablecoins Like USDT and BUSD

Another major benefit is access to stablecoins like USDT (Tether) and BUSD (Binance USD). These are cryptocurrencies pegged to the US Dollar, offering price stability and acting as digital equivalents of USD.

Using stablecoins allows you to hold dollar-equivalent assets without needing a US bank account. They’re ideal for saving in dollars, investing in global assets, or even sending cross-border payments.

In summary, Binance and similar crypto platforms simplify the process of converting Naira to USD. They offer superior rates, quicker and safer transactions, and easy access to dollar-pegged stablecoins—all essential tools for financially savvy Nigerians in 2025.

Step-by-Step Guide: How to Convert Naira to Dollar on Binance

If you’re looking to convert your Naira into US Dollars conveniently and securely, Binance offers a simple and efficient way to do so using its Peer-to-Peer (P2P) platform. Below is a clear step-by-step guide to help you navigate the process:

1. Open a Binance Account and Complete KYC

Start by downloading the Binance app or visiting the Binance website. Register an account using your email or phone number. After registration, you’ll need to complete the Know Your Customer (KYC) verification process, which involves uploading a valid ID (e.g., National ID card, International Passport, or Driver’s License) and a selfie. This step is required to unlock full access to Binance’s P2P features.

2. Fund Your Binance NGN Wallet (Recommended via P2P)

Once your account is verified, go to the P2P section on the Binance app or site. Instead of funding your wallet directly through bank channels (which may not always be available due to local regulations), it’s best to use P2P. Here, you can buy crypto (like USDT) directly from other users by paying with your Nigerian bank account.

3. Search for a P2P Offer to Buy USDT with Naira

In the P2P marketplace, filter by currency (choose NGN) and the asset you want to buy (select USDT). You’ll see a list of verified merchants offering USDT at various rates. Choose one with a good rating, favorable rate, and payment method you’re comfortable with.

4. Buy USDT (Dollar Equivalent)

Enter the amount of Naira you want to spend, confirm the trade, and transfer the Naira to the seller’s bank account as instructed. Once the seller confirms receipt, Binance will release the USDT to your wallet. USDT is a stablecoin pegged to the US dollar, so 1 USDT ≈ 1 USD.

5. Optional: Send to an External Wallet or Convert to Other Currencies

After purchasing USDT, you can leave it in your Binance wallet, send it to another crypto wallet, or even convert it to other cryptocurrencies or fiat currencies available on Binance.

Using this method is not only fast but also gives you full control of your funds with minimal risk and cost.

Alternative Apps to Use for Converting Naira to Dollar

While Binance remains the most popular option for converting Naira to USD (via stablecoins like USDT), there are several alternative apps that offer similar services.

Each platform has its own strengths and limitations, making it important to choose the one that best suits your specific needs, whether it’s ease of use, low fees, or availability of payment methods. Below is a breakdown of top alternatives and their pros and cons:

1. KuCoin

Overview:
KuCoin is a global crypto exchange that, like Binance, supports P2P trading and allows Nigerians to buy USDT with Naira through local bank transfers.

Pros:

• User-friendly interface with good liquidity.

• Offers access to a wide range of cryptocurrencies.

• Competitive exchange rates on P2P.

Cons:

• Requires identity verification for full access.

• Smaller Nigerian user base compared to Binance (fewer local sellers).

• No NGN wallet—strictly crypto-based trades.

2. Paxful

Overview:
Paxful is a P2P platform that allows you to buy USDT or Bitcoin using various payment methods including bank transfer, gift cards, Opay, PalmPay, and more.

Pros:

• Wide range of payment options.

• Ideal for users without a traditional bank account.

• Strong seller verification and escrow system for safety.

Cons:

• Higher fees or less favorable rates compared to Binance.

• Interface can be overwhelming for beginners.

• More focused on Bitcoin; fewer USDT listings compared to Binance or KuCoin.

3. Bundle Africa

Overview:
Bundle is a mobile-first Nigerian crypto app that simplifies buying and converting between Naira and USDT, designed for easy use by locals.

Pros:

• Very user-friendly and beginner-friendly.

• Supports Naira deposits and withdrawals.

• Fast local transactions and zero fees on some services.

Cons:

• Limited advanced trading features.

• Smaller market size and fewer crypto options.

• Still dependent on availability of Naira liquidity.

4. Luno

Overview:
Luno is a crypto app popular in South Africa and Nigeria, mostly for Bitcoin and Ethereum trading. It can be used to convert Naira to USD indirectly via BTC.

Pros:

• Clean and simple interface.

• Regulated in some jurisdictions.

• Trusted brand with a solid track record.

Cons:

• Not ideal for direct USDT or USD conversions.

• Limited to major coins—no P2P USDT/Naira support.

• Less competitive exchange rates.

Summary

Each of these apps can help you convert Naira to a dollar equivalent, but the right choice depends on your experience level, preferred payment methods, and trading needs.

Safety Tips and Things to Watch Out For When Converting Naira to Dollar

When using platforms like Binance, KuCoin, Paxful, or Bundle Africa to convert Naira to USD, security should always be a top priority. While these platforms have built-in protections such as escrow services and identity verification, users must still take personal precautions to avoid scams, losses, or unnecessary risks. Here are key safety tips and red flags to watch out for:

1. Double-Check Buyer/Seller Ratings on P2P Platforms

Before initiating a transaction on any P2P platform, make sure to review the buyer or seller’s profile carefully. Look out for:

• High completion rates (90% or more)

• Positive feedback from previous trades

• Number of completed trades

Stick to merchants with verified badges and avoid new or unverified users offering rates that seem too good to be true. On platforms like Binance and Paxful, trusted users often display detailed trade histories and faster response times.

2. Avoid Clicking Suspicious Links or Using Third-Party Wallets

Some scammers attempt to trick users by sending malicious links or asking them to transfer funds outside the platform. Never click on external links during a trade, and always complete the transaction within the P2P platform’s system. The escrow protection only applies if you follow the in-app process.

Also, avoid sending your USDT or crypto assets to unfamiliar wallets unless you’re sure of the recipient. Use official wallets like Binance, Trust Wallet, or other reputable platforms to manage your funds.

3. Be Cautious with Price Differences and High Transaction Fees

While comparing prices, be wary of traders offering unusually low or high rates. These could be bait to attract inexperienced users into risky or time-consuming transactions.

Additionally, check if the platform or payment method adds hidden charges or high fees, especially on Paxful where some payment methods have premium markups.

Bonus Tips:

• Enable two-factor authentication (2FA) for extra account security.

• Always confirm the exact amount before finalizing a trade.

• Avoid rushing—take your time to understand the terms of the transaction.

By following these safety practices, you can confidently convert your Naira to USD without falling victim to scams or mistakes.

Best Practices to Maximize Value When Converting Naira to Dollar

To get the most out of your Naira-to-Dollar conversions, it’s not just about using the right platform—it’s also about using the smartest strategies. Foreign exchange rates fluctuate daily (and even hourly), and understanding how to navigate these changes can help you maximize the value of your money. Below are key best practices that will help you save more, reduce risk, and make the most of your FX transactions.

1. Compare Rates Before Trading

Before committing to a transaction, take a moment to compare exchange rates across multiple sellers or platforms. Whether you’re on Binance, Paxful, KuCoin, or Bundle Africa, rates can vary significantly from one merchant to another. Look for sellers offering competitive rates without hidden charges, and check real-time market data to ensure you’re not buying at a loss.

2. Use Verified Merchants Only

Always trade with verified and trusted merchants. On P2P platforms, verified users usually have a track record of completed transactions, high ratings, and fast response times.

Trading with such users reduces the risk of disputes, failed transactions, or delays. Avoid new users offering “too good to be true” rates, as these often come with complications or risks.

3. Convert During Favorable FX Hours (Avoid Weekends)

Currency exchange rates tend to be more stable and favorable during weekdays, especially during active trading hours (typically Monday to Friday, 9 AM to 4 PM).

Weekends often come with lower liquidity, which can result in wider spreads and worse rates. If possible, time your conversions when the market is active to get the best deal.

4. Withdraw or Convert to USD When NGN Weakens

To protect your savings and purchasing power, it’s wise to convert your Naira to USD when the Naira is weakening. This means you’ll get more USD value for the same amount of Naira. Monitor exchange trends and economic news that may impact the Naira’s value—this timing strategy can significantly improve your returns.

By applying these best practices consistently, you can ensure that each conversion works in your favor. Whether you’re a freelancer, investor, or online buyer, a smart approach to FX trading helps you stay ahead of currency volatility and get the best value from your transactions

Conclusion: Take Control of Your Currency Needs Today

Converting Naira to USD has become an essential financial step for many Nigerians, whether you’re paying for online services, freelancing for international clients, saving in a stable currency, or investing globally. Fortunately, platforms like Binance, KuCoin, Paxful, and Bundle Africa have made this process easy, secure, and accessible to anyone with a smartphone and a bank account.

We’ve walked through the complete process—from opening a Binance account and using P2P to buy USDT, to exploring alternative platforms and practicing safe trading habits.

We’ve also discussed the importance of comparing rates, trading with verified merchants, and converting your funds during favorable FX periods to maximize the value of your Naira. Additionally, tips like withdrawing when the Naira is weak and avoiding weekend trades can make a big difference over time.

The key takeaway is this: You don’t need a foreign bank account or a finance degree to manage your money in USD. With the right tools and a few smart strategies, you can protect your earnings, access global opportunities, and take full control of your financial future.

If you’ve been struggling to find a reliable way to access dollar funds or are tired of losing value through poor exchange rates and bank restrictions, now is the perfect time to make a move. Start by downloading a trusted app like Binance, complete your KYC, and try your first small transaction to get comfortable with the process.

Financial freedom starts with small, informed steps—take yours today.

FAQs

How to change Binance to USD?

Changing your Binance display or conversion currency to USD is a straightforward process. Binance allows users to select their preferred currency to view wallet balances, trading pairs, and market prices. Here’s how to change it to USD:

1. Login to Binance Account: Open the Binance app or web version and log in to your account.

2. Go to Profile or Settings:

   • On the web, click the profile icon at the top right and select “Dashboard” or “Settings”.

   • On the app, tap your profile icon in the top-left corner.

3. Find ‘Currency’ Setting: Under “Preferences” or “General Settings,” locate the currency display option. This is where Binance lets you choose your preferred fiat currency.

4. Select USD (US Dollar): Scroll through the list of available currencies and select “USD”. Once selected, your wallet balance and market prices will now be shown in USD.

5. Save Changes: The settings update automatically once you select USD. If you’re using the app, changes may reflect immediately, but you can refresh to confirm.

This change doesn’t affect your actual holdings—it only changes how values are displayed. You’re not converting your assets to USD; you’re only seeing their equivalent value in dollars.

Why Change to USD?
Many users prefer USD as it aligns with international pricing, helps in comparing crypto values easily, and is more stable than local currencies like the naira. It’s also helpful when dealing with USDT, BUSD, or other USD-pegged assets.

Note: If you’re actively trading, make sure your trading pairs involve USD or USD-based stablecoins (like USDT or BUSD) for accurate tracking.

Lastly, this display setting can be changed anytime. If you move to a different region or prefer seeing your portfolio in Naira, EUR, or GBP later, just repeat the same steps and select the desired currency.

How to change naira to Dollar App?

If you’re looking to change your app’s currency from Naira to Dollar, particularly in apps like Binance or other finance platforms, the process typically involves updating your currency preference in the app’s settings. This change doesn’t affect your actual funds but updates how prices and balances are displayed.

Here’s a step-by-step guide you can follow:

1. Open the App: Launch the finance app you’re using—whether it’s Binance, KuCoin, Trust Wallet, or a digital bank like Chipper Cash.

2. Log In: Ensure you’re logged in to your account.

3. Go to Settings or Profile: Look for a menu icon, usually located at the top-left or right. Tap on it and navigate to Settings, Preferences, or Profile.

4. Look for Currency Options: Under preferences or general settings, you’ll find a currency option. Tap on it to view available currencies.

5. Select USD ($): Choose “USD – US Dollar” from the list. The app will now display your wallet balance and prices in US dollars instead of Naira.

6. Save or Confirm Changes: Some apps update this setting automatically, while others may require confirmation or a restart.

Changing your display currency is very useful for tracking the value of your digital assets, especially when using stablecoins like USDT or BUSD, which are pegged to the US dollar. It also gives a clearer picture if you’re trading or saving in foreign currency.

Important Tips:

• If your app is location-based, like some local banks or wallets, the currency may revert to Naira automatically based on your IP address or SIM location. In this case, using a VPN or changing region settings may be necessary.

• In apps like Binance, changing the currency only affects display. You must trade or convert to USDT, BUSD, or USD through the P2P, spot market, or convert feature to actually hold dollars.

Overall, switching from Naira to Dollar on your app helps in better tracking of crypto assets and international transactions. It’s a great step if you’re planning to save, trade, or invest in foreign currency through digital platforms.

How much is $1 in Naira in Binance?

The value of $1 in Naira on Binance depends on real-time market rates and whether you’re checking through P2P (peer-to-peer) trading or via a stablecoin like USDT or BUSD. Binance doesn’t offer official forex exchange rates, but rather lets users buy and sell based on current supply and demand.

As of July 2025, the average rate of $1 (via USDT) on Binance is typically between ₦1,470 to ₦1,520, depending on the seller, payment method, and time of day. This price is higher than the official CBN rate because Binance operates on a free-market model.

Here’s how to check:

1. Open Binance and Log In.

2. Tap P2P Trading from the home menu.

3. Filter by “Buy USDT”.

4. Set your currency to NGN (Naira) and payment method to Bank Transfer.

5. View the current USDT/NGN rates. Since 1 USDT ≈ $1, the displayed price is effectively the Naira value of $1.

Rates change every minute based on market activity, but P2P remains the most direct way to determine how much $1 is worth in Naira on Binance.

Factors Affecting Binance Dollar Rate:

• Market Demand: If more Nigerians want USDT, the Naira price increases.

• Dollar Liquidity: Fewer sellers result in higher prices.

• CBN Regulations: Any new government policy or devaluation directly affects prices.

• P2P Competition: Different merchants offer slightly different rates, so compare before buying.

To get the best value, filter verified sellers with high completion rates and low margins. Also, remember that rates are slightly different for buying vs. selling USDT.

How to convert currencies on Binance?

Converting currencies on Binance is a quick and user-friendly process. Binance offers multiple tools for currency conversion, including the Convert tool, Spot trading, and P2P trading, depending on what type of asset you are converting—crypto-to-crypto, fiat-to-crypto, or vice versa.

Here’s how to use the Binance Convert Tool, which is the easiest option:

1. Login to Binance: Open the app or website and log in.

2. Navigate to ‘Convert’:

   • On the homepage, click or tap “Trade”.

   • Select “Convert” from the available options.

3. Select Currencies:

   • In the “From” field, choose the asset you want to convert (e.g., USDT).

   • In the “To” field, choose the asset you want to receive (e.g., BTC, BNB, or USD).

4. Enter Amount: Type in the amount you want to convert.

5. Preview Conversion: Click “Preview Conversion” to see the rate and final amount.

6. Confirm: If satisfied with the exchange rate, tap “Convert”. The conversion usually completes instantly.

This tool works best for common tokens like BTC, ETH, USDT, BNB, and some stablecoins. For more advanced or less common pairs, you’ll need to use the Spot market:

• Go to Trade > Spot.

• Select a pair (e.g., USDT/BTC).

• Place a market order to buy or sell instantly at the current rate.

If you want to convert fiat like Naira to USDT, use the P2P trading feature:

• Go to P2P from the home page.

• Select “Buy” or “Sell”.

• Choose the currency (NGN) and preferred crypto (usually USDT or BUSD).

• Complete the transaction with a verified seller.

Each method serves a specific purpose. The Convert tool is great for speed, Spot trading gives more control over price, and P2P is essential for fiat-to-crypto conversions in regions like Nigeria.

Overall, Binance makes currency conversion seamless, whether you’re a beginner or experienced trader. Always check real-time rates and transaction fees before confirming any conversion.

Can Binance convert to USD?

Yes, Binance can convert your crypto or fiat balance into USD, either through trading, stablecoins, or P2P. However, it’s important to clarify that Binance does not directly hold physical U.S. dollars in your wallet. Instead, USD values are represented using stablecoins like USDT (Tether), USDC, or FDUSD, which are pegged 1:1 to the US dollar.

Here’s how you can effectively convert to USD on Binance:

1. Convert Crypto to USDT:

   • Go to Trade > Convert.

   • Select the coin (e.g., BTC) you want to convert “From”.

   • Choose USDT or BUSD in the “To” field.

   • Complete the conversion.

Since USDT ≈ $1, this is the same as converting your asset to dollars.

2. Use P2P to Buy USD Stablecoins:

   • Head to the P2P section.

   • Filter to “Buy USDT” using NGN or another fiat currency.

   • Complete the transaction using a trusted merchant.

3. Check Balance in USD:

   • To confirm your balance is shown in dollars, go to settings and change the display currency to USD.

   • Your wallet will now show the dollar value of your crypto holdings.

4. Sell USDT for Cash (if needed):

   • Use P2P Sell to convert your USDT back to local currency (e.g., NGN).

While you can’t withdraw actual USD from Binance in most regions (unless you have a linked U.S. bank account), converting your crypto to USDT or other stablecoins gives you the equivalent dollar value.

So yes, Binance does allow USD conversion through stablecoins, and it’s the preferred method for users in countries like Nigeria where direct dollar transfers are limited.

How to change USDT to dollar in Binance?

Changing USDT to dollar in Binance is essentially a matter of converting or withdrawing your USDT into a form that represents the U.S. dollar. However, Binance does not allow direct withdrawals to physical USD cash unless you have a U.S. bank account. Instead, you can convert your USDT into other stablecoins or use it to trade, spend, or withdraw through third-party methods.

Here’s how to approach it:

1. Use USDT as a Dollar Equivalent:
   USDT is already a stablecoin pegged to the U.S. dollar, meaning 1 USDT = approximately $1 USD. Most traders and platforms use USDT in place of actual dollars.

2. Convert to USD on Binance:

   • Go to the “Convert” tab on Binance.

   • Select “From: USDT” and “To: USD” (if USD is listed or supported in your region).

   • Preview and confirm the transaction.

   In many regions, USD will only be available as a display option, not as an actual wallet balance, unless you have access to Binance.US or other regional versions of the platform.

3. Withdraw via P2P (If in Nigeria):

   • Go to P2P Trading > Sell USDT.

   • Choose your local currency (e.g., NGN), but calculate how many Naira you’d receive based on the USDT rate. This indirectly tells you the value of your USDT in dollars.

4. Trade USDT for USD-Pegged Coins:
   If USD is not supported in your region, consider converting USDT to BUSD, USDC, or FDUSD — all of which maintain a 1:1 peg with the dollar.

5. Change Currency Display to USD:

   • Go to Settings > Currency and change your display to USD. This allows you to view your balances and trades in U.S. dollar equivalents.

Important Notes:

• USDT cannot always be withdrawn as real dollars in countries like Nigeria.

• If you want physical or bank USD, you’ll need to use third-party exchanges, P2P transfers, or local money changers who accept USDT.

So, while Binance can’t give you real USD cash directly, holding or converting to USDT is effectively the same as having U.S. dollars within the crypto ecosystem.

How to get USD on Binance?

Getting USD on Binance typically involves buying or converting into a USD-pegged stablecoin like USDT (Tether), BUSD, or FDUSD. Binance does not generally allow users outside the U.S. to hold actual “USD” in fiat form, but stablecoins serve as dollar equivalents and are accepted almost universally within the platform.

Here are the most common ways to get USD on Binance:

1. Use P2P to Buy USDT:

   • Open the Binance app or website and go to “P2P” trading.

   • Select the “Buy” option and choose USDT.

   • Set your local currency (e.g., NGN).

   • Pick a trusted seller, enter the amount, and complete the transfer via your preferred payment method (usually bank transfer).

   Since 1 USDT ≈ 1 USD, buying USDT gives you direct access to U.S. dollar value.

2. Convert Crypto to USD Equivalents:

   • Go to “Convert” or “Trade > Spot”.

   • Choose to convert your coin (e.g., BTC or ETH) to USDT, BUSD, or FDUSD.

   • Complete the conversion and now you’ll have assets in U.S. dollar terms.

3. Deposit USD via Bank Transfer (U.S. Residents):

   • If you live in the U.S. or use Binance.US, you can deposit actual USD through ACH, wire transfer, or card payment.

   • In this case, the funds will appear as real USD in your fiat wallet.

4. Withdraw Local Currency via P2P and Rebuy:
   If you already own crypto in another form, you can sell it on P2P, get the local currency, and rebuy USDT. This is sometimes needed to meet transfer requirements or fix rate differences.

Final Tip:
Change your currency settings to USD in Binance so you can track your portfolio in dollars. Even if you’re based in Nigeria or another country, this makes your account easier to manage and helps avoid confusion with exchange rates.

How much is 1 Binance USDT in dollars?

1 Binance USDT is equivalent to 1 U.S. Dollar (USD) in most cases. USDT stands for Tether, a stablecoin designed to maintain a fixed 1:1 value with the U.S. dollar. This means that whenever you see 1 USDT on Binance, it’s practically equal to $1 USD.

However, it’s important to understand a few key points:

1. USDT ≠ Physical USD:
   While USDT is pegged to the dollar, it is not the same as holding real cash. It’s a cryptocurrency used in digital trading and serves as a representation of USD in the crypto ecosystem.

2. Peg Maintenance:
   Tether Limited, the company behind USDT, claims that each token is backed by reserves, including cash and cash equivalents, to ensure stability. Binance, along with most other platforms, lists USDT at or very near $1.

3. Possible Price Fluctuations:
   In highly volatile situations or during liquidity crises, USDT can slightly go above or below $1—for example, $0.998 or $1.01. But this is usually temporary and very minimal.

4. P2P Market Exception:
   If you are buying USDT using Naira (NGN) or another local currency in the P2P section of Binance, the price you pay per USDT will reflect the black market dollar rate, which may be higher than the official rate. However, within the Binance exchange itself, 1 USDT is still equal to 1 USD.

5. Display Currency Settings:
   Binance allows you to view your wallet in USD, NGN, or other currencies. If you set your display currency to USD, your USDT value will show up as a 1:1 reflection in dollar terms.

In summary, 1 USDT on Binance is always approximately $1 USD, and it’s used globally for dollar-denominated crypto trading. If you want to deal in dollars, holding USDT is the most convenient and widely accepted method within the Binance ecosystem and beyond.

How much is a USDT to a dollar?

In standard trading environments, 1 USDT is equal to 1 USD. This is because USDT (Tether) is a stablecoin—a type of cryptocurrency specifically designed to maintain a 1:1 peg with the U.S. dollar. Tether aims to provide the stability of fiat currency with the flexibility of crypto transactions.

Here are important aspects to understand:

1. USDT as a Digital Dollar:
   When you buy or hold USDT, you’re essentially holding a digital version of the U.S. dollar. It allows you to transact globally, avoid the volatility of Bitcoin and other altcoins, and make cross-border payments without using banks.

2. Why It’s Pegged to the Dollar:
   Tether Limited, the company behind USDT, maintains reserves in cash and assets to ensure each USDT is backed by an equivalent value. This makes USDT a reliable unit of account in crypto markets.

3. When It’s Not Exactly $1:
   Occasionally, market factors might cause small deviations. For instance:

   • If demand surges suddenly, the price might rise slightly to $1.01.

   • In rare stress conditions, it may dip to $0.99.

   These fluctuations are usually minimal and short-lived.

4. Binance P2P Rates Differ:
   If you’re buying USDT with Naira or other fiat currencies on the Binance P2P platform, the price you pay reflects local currency exchange rates, not necessarily the U.S. dollar rate. But on the exchange side, 1 USDT always equals approximately 1 USD.

5. Use Cases for USDT:

   • Stable storage of value

   • Trading against cryptocurrencies like BTC and ETH

   • Remittance and cross-border transfers

   • Accessing U.S.-dollar equivalents without a USD bank account

So while USDT isn’t physical cash, it functions as a stable, digital substitute for the dollar across the entire cryptocurrency ecosystem. On platforms like Binance, this equivalence is preserved and maintained.

Can I add USD to Binance?

Yes, you can add USD to Binance, but the method depends on your location, account type, and Binance version (e.g., global Binance.com vs. Binance.US). While U.S. residents using Binance.

US can directly deposit USD through linked bank accounts or cards, users in countries like Nigeria can only indirectly deal with USD by using stablecoins like USDT, BUSD, or FDUSD.

Here are the main ways to add USD to Binance:

1. Bank Transfer (For Supported Countries):

   • If you’re in a country where Binance supports fiat deposits (like the U.S., UK, or Europe), go to Wallet > Fiat and Spot > Deposit.

   • Select USD as the deposit currency.

   • Choose a method like SWIFT, ACH, or Wire Transfer.

   • Follow the instructions to transfer from your bank to Binance.

2. Use a Credit or Debit Card:

   • Go to Buy Crypto > Credit/Debit Card.

   • Select USD as the currency.

   • Enter the amount, select the coin you want (e.g., USDT), and complete the payment.

   Note: Binance will convert USD to crypto immediately during this process.

3. P2P Trading (For Regions Like Nigeria):

   • Since direct USD deposits may not be supported in countries like Nigeria, use P2P trading to buy USDT or BUSD with local currency (e.g., NGN).

   • Go to P2P > Buy > USDT, choose your payment method, and complete the transaction.

   Because 1 USDT ≈ $1 USD, this serves as a digital equivalent to having USD in your account.

4. Third-Party Services:
   Binance also partners with third-party providers like Simplex and Paxful, where users can purchase crypto using USD through external services linked to Binance.

Important Notes:

• Binance does not allow all users to hold physical USD balances.

• Always verify your KYC status and regional restrictions before trying to deposit fiat currency.

So, while not everyone can add real USD directly to Binance, stablecoins provide a trusted and accessible way to hold and use U.S. dollar value on the platform.

How to swap Binance USD?

Swapping Binance USD (formerly BUSD) on Binance is very simple, but it’s important to note that BUSD is being gradually phased out in favor of other stablecoins like USDT and FDUSD. Despite this, if you still hold BUSD in your wallet, you can easily swap it using the Convert tool, Spot Trading, or P2P.

Here’s how to swap BUSD step by step:

1. Using the Convert Tool:

   • Log in to Binance and go to Trade > Convert.

   • In the “From” section, select BUSD.

   • In the “To” section, choose the coin you want — typically USDT, BTC, or FDUSD.

   • Enter the amount and click Preview Conversion.

   • Confirm the swap if you’re satisfied with the rate.

   This is the fastest and easiest method, especially for beginners.

2. Using Spot Trading:

   • Go to Trade > Spot.

   • In the search bar, enter the trading pair (e.g., BUSD/USDT or BUSD/BTC).

   • Enter the amount you want to swap and place a Market Order to trade instantly.

   Spot trading gives you more control over price and timing, ideal for experienced users.

3. Via P2P (If BUSD Available):

   • Go to P2P and select Sell BUSD if there are still active BUSD listings.

   • Choose your preferred payment method and complete the transaction.

   • Note: Since BUSD is being phased out, you may find fewer options for P2P sales.

Important Tips:

• Binance has encouraged users to convert BUSD to FDUSD or USDT before support is fully removed.

• Check the latest updates from Binance, as trading and conversion options for BUSD may be removed eventually.

• Always verify that you’re not swapping during high volatility periods to avoid price slippage.

In short, while BUSD can still be swapped easily on Binance, it’s best to convert it into more actively supported stablecoins like USDT or FDUSD as soon as possible.

How to convert USDT to Naira on Binance?

To convert USDT to Naira (NGN) on Binance, the most practical method is through the P2P (peer-to-peer) trading platform. Binance does not support direct fiat withdrawals like Naira via bank transfers, so P2P allows you to sell your USDT to other users and receive Naira directly in your local bank account.

Here’s a step-by-step guide:

1. Login to Binance:
   Open your Binance app or web account and make sure you’ve completed KYC verification.

2. Go to P2P Trading:

   • On the home screen, select P2P from the menu.

   • Make sure the currency is set to NGN.

3. Select ‘Sell’ and Choose USDT:

   • Tap the “Sell” tab at the top.

   • Select USDT from the list of available cryptocurrencies.

4. Filter for Trusted Buyers:

   • Use the filter tool to choose your preferred payment method (e.g., Bank Transfer).

   • Choose verified buyers with high completion rates and low order limits.

5. Enter Amount and Proceed:

   • Enter how much USDT you want to sell.

   • Binance will show the exact amount of Naira you’ll receive.

6. Confirm and Wait for Payment:

   • Once you click Sell, the buyer will receive a notification.

   • The buyer must send Naira to your bank account within the time limit.

7. Verify Payment and Release USDT:

   • Confirm you’ve received the funds in your bank account.

   • Once confirmed, click “Release Crypto” to send the USDT to the buyer.

Tips for Safety:

• Never release USDT before confirming the money is in your bank.

• Avoid communicating outside Binance chat.

• Report suspicious activity immediately.

Alternative: If you want to convert to Naira but hold other coins like BTC or ETH, convert them to USDT first using Binance Convert, then follow the steps above.

In conclusion, Binance P2P is the safest and most direct way to convert your USDT to Naira in Nigeria. It offers good rates, multiple payment options, and instant transfers with zero platform fees.

How do I change Binance settings?

Changing settings in your Binance account allows you to customize your experience, improve security, and personalize your trading interface. Whether you want to update your display currency, change notifications, modify language, or enhance your security, Binance provides easy-to-navigate menus both on the mobile app and web version.

Here’s how to access and change settings:

1. Login to Binance:
   Open the app or website and log in to your account.

2. Access the Settings Menu:

   • On mobile, tap your profile icon in the top-left corner.

   • On desktop, click your profile icon on the top-right corner and select Dashboard or Settings.

3. Main Categories in Settings:

   • Personal Information: Update email, phone number, or identity details (KYC).

   • Security: Enable 2FA (Two-Factor Authentication), change password, or activate withdrawal whitelist.

   • Preferences: Change your language, currency (USD, NGN, etc.), and time zone.

   • Notifications: Choose what alerts you want to receive via email, SMS, or push notification.

   • Payment Settings: Add or remove payment methods for P2P transactions.

4. Changing Display Currency:

   • Go to “Preference Settings”.

   • Select your preferred display currency such as USD or NGN.

   • This affects how your balances and market prices are shown.

5. Enabling Security Features:

   • Use Google Authenticator for added protection.

   • Turn on anti-phishing codes to prevent email scams.

   • Set device management to monitor login locations.

6. Advanced Features:

   • For traders, you can toggle between Basic, Classic, and Advanced trading layouts.

   • You can also adjust API settings if you’re using bots or automated trading tools.

Pro Tips:

• Always enable 2FA to protect your funds.

• Review your settings every few months to ensure they’re up-to-date.

• Enable withdrawal whitelist to limit outgoing transfers to safe wallets.

Changing your Binance settings lets you tailor the platform to your needs while boosting your security and trading efficiency.

Does Binance have USDT?

Yes, Binance supports USDT (Tether), one of the most widely used stablecoins in the world. USDT is a cryptocurrency that is pegged to the U.S. Dollar, meaning 1 USDT is approximately equal to $1 USD. It is designed to offer the stability of fiat currency while functioning on blockchain networks, making it a popular choice for traders, investors, and businesses.

On Binance, USDT is used extensively for:

1. Spot and Futures Trading:
   Many trading pairs on Binance are denominated in USDT. Examples include BTC/USDT, ETH/USDT, and BNB/USDT. These pairs allow users to buy or sell cryptocurrencies using USDT instead of other tokens.

2. Binance P2P Trading:
   USDT is the most traded stablecoin on Binance P2P, especially in countries like Nigeria where users buy and sell it using their local currency (e.g., Naira). This makes it the go-to digital asset for dollar transactions in places with currency restrictions.

3. Staking and Earning:
   Binance offers staking and flexible savings options with USDT. Users can earn interest by locking up their USDT in Earn products.

4. Wallet Transfers:
   You can deposit, hold, or withdraw USDT on Binance using various blockchain networks such as TRC20 (Tron), ERC20 (Ethereum), BEP20 (Binance Smart Chain), and others.

5. Cross-border Transactions:
   USDT is often used to send money across borders quickly and cheaply, bypassing traditional banking systems. On Binance, you can send USDT to anyone with a Binance wallet or an external address.

6. Low Volatility Asset:
   Traders often convert volatile crypto assets like Bitcoin into USDT during uncertain markets to preserve value.

Important Notes:

• Binance supports multiple versions of USDT across different chains, so always confirm the correct network when sending or receiving funds.

• USDT is not backed by a government but by Tether Ltd., which claims to hold reserves to maintain the 1:1 peg.

In summary, Binance fully supports USDT and integrates it into almost every part of its ecosystem — trading, saving, converting, and P2P. It’s your best option when you want to operate in dollars without holding actual USD.

How do I convert coins to USDT in Binance?

Converting coins like BTC, ETH, BNB, or others to USDT on Binance is straightforward and can be done through the Convert tool or the Spot Market. USDT is a stablecoin pegged to the U.S. dollar and is widely used to preserve value or trade against other cryptocurrencies.

Here are two main ways to convert coins to USDT on Binance:

Method 1: Using Binance Convert (Fast & Simple)

1. Log in to Binance and go to the homepage.

2. Tap “Trade” and then select “Convert”.

3. In the “From” field, choose the coin you want to convert (e.g., BTC).

4. In the “To” field, select USDT.

5. Enter the amount you wish to convert.

6. Click “Preview Conversion” to see the exchange rate and fees.

7. If satisfied, click “Convert” to complete the transaction instantly.

This tool is best for quick and easy conversions with no trading fees.

Method 2: Using Spot Trading (More Control)

1. Navigate to Trade > Spot.

2. In the top-left search bar, type the trading pair (e.g., BTC/USDT).

3. Scroll down to the order box.

4. Select Market Order to sell instantly or Limit Order if you want to set your own price.

5. Enter the amount of the coin you want to sell.

6. Confirm the order, and you’ll receive the equivalent in USDT.

Spot trading is ideal for those who want more control over prices and trading strategies.

Why Convert to USDT?

• Stability: Helps lock in profits when the market is volatile.

• Liquidity: USDT is one of the most traded assets on Binance.

• Ease of Withdrawal: USDT is widely accepted across wallets, platforms, and P2P networks.

In short, whether you’re a beginner or advanced user, converting coins to USDT on Binance is simple, fast, and secure.

How do I change the currency on my Binance widget?

Changing the currency on your Binance widget allows you to view your portfolio and market prices in your preferred local or international currency — such as NGN, USD, GBP, or EUR. Whether you’re using the Binance mobile app, desktop platform, or a Binance widget on your home screen, the process is simple and customizable.

Here’s how to change the currency on the Binance widget:

For Mobile App Users (Android or iOS)

1. Open the Binance App:
   Launch the Binance app and log in to your account.

2. Go to Your Profile:
   Tap the profile icon (usually at the top-left corner of the screen).

3. Tap on “Settings”:
   From the profile menu, select “Settings” or “Preferences” depending on your version.

4. Select “Currency”:
   In the list of options, find “Currency” and tap it. This shows a list of supported fiat currencies such as USD, NGN, EUR, GBP, etc.

5. Choose Your Preferred Currency:
   Scroll through the list and select your preferred currency. The widget and app will now display all balances and prices in this chosen currency.

6. Confirm and Exit:
   Binance saves the changes automatically. Exit the settings menu and refresh your widget to see updated figures in the new currency.

For Binance Desktop/Web Users

1. Log in to your Binance account.

2. Click the profile icon in the top-right corner.

3. Select “Dashboard” or “Settings”.

4. Locate the Currency Display setting and change it to your desired currency.

Why Change the Widget Currency?

• Clarity: See values in your home currency for easier understanding.

• Better Trading Decisions: Helps compare prices to your local economy.

• Simplifies Record Keeping: Useful for financial tracking, taxation, or reporting.

Note: Changing your display currency does not convert your assets, it only affects how they are visually represented in your dashboard or widget.

In summary, you can change the currency on your Binance widget in under a minute. It’s a handy feature that enhances your user experience and aligns your display with your preferred financial context.

Can I convert USDT to USD on Binance?

Technically, yes, you can convert USDT (Tether) to USD on Binance, but with some limitations depending on your region. In most countries, Binance users can’t hold physical or bank-issued USD directly on the platform. Instead, they deal in USDT, which is a stablecoin pegged to the U.S. Dollar at a 1:1 ratio.

Here’s what you need to know:

1. USDT Is Already a USD Equivalent
USDT is designed to maintain a 1:1 value with the U.S. dollar. When you hold 100 USDT, you’re effectively holding $100 in digital form. So in most cases, there’s no need to convert USDT to USD unless you’re looking to withdraw actual dollars to a bank account.

2. Binance Convert Tool (For USD Pairs)
If you’re in a region where Binance allows fiat balances:

• Go to Trade > Convert.

• Select “From: USDT” and “To: USD” (if USD is listed).

• Enter the amount and proceed with the conversion.

Note: This only works in countries with fiat wallet support for USD.

3. USD Wallet Availability Varies
Binance offers fiat wallets for USD only in specific regions such as:

• The United States (via Binance.US),

• Certain European and Asian countries with SWIFT-enabled accounts.

For Nigerian users and others in restricted regions, USD wallets are typically not available, so USDT acts as a full substitute.

4. P2P Workaround (Indirect Conversion)
To cash out in dollars, you could:

• Sell your USDT on the P2P marketplace for Naira or another currency.

• Withdraw that money, then use it to buy dollars locally or through licensed services.

Conclusion:
While Binance allows USDT-to-USD conversion in certain locations, most users rely on USDT as their digital dollar. Unless you have access to a USD fiat wallet, there’s usually no need—or possibility—to convert USDT to physical USD within Binance.

Can I change my country on Binance?

Changing your country on Binance is not something you can do casually within the app settings. Binance takes regulatory compliance very seriously, and your registered country is tied to your identity verification (KYC) and regional service limitations. Once you’ve verified your account in a particular country, changing that country involves formal steps, not just a settings update.

Here’s What You Should Know:

1. Country Is Set During KYC
   When you register on Binance and complete your KYC (Know Your Customer) verification, your country is set based on the ID and address documents you provided. This country is used to determine:

• Your eligibility to use Binance services,

• Your available fiat deposit and withdrawal options,

• Regional trading features like P2P, Spot, and Futures.

2. You Cannot Change Country Manually
   There’s no manual toggle in the app or website that lets you switch your country after KYC is complete. Even changing your region in the settings doesn’t override your verified location.

What If You Move to a New Country?

If you’ve relocated permanently or temporarily to another country and want to use Binance with local features, follow these steps:

1. Contact Binance Support
   Submit a request to Binance customer service explaining your situation. You’ll likely need to provide:

   • Proof of residency in the new country (utility bill, lease, etc.)

   • Valid government-issued ID for the new country

   • Possibly a selfie for re-verification

2. Create a New Account (In Some Cases)
   Binance may ask you to create a new account using your new country’s documents and IP location. However, this could result in account transfer issues or even restrictions if the new country has limited Binance support.

3. Consider Binance Alternatives
   If Binance is not fully supported in your new country (e.g., U.S. residents must use Binance.US), you may need to switch platforms or use region-specific services.

Important Reminder:
Avoid using VPNs or fake addresses to change your country, as this violates Binance’s terms of service and may lead to account suspension or closure.

In summary, while you can’t directly change your country on Binance through settings, it’s possible by contacting support and going through proper re-verification procedures.

How much is 1 USDT in Binance today?

The price of 1 USDT (Tether) on Binance is designed to be as close to $1 USD as possible. That’s because USDT is a stablecoin — a type of cryptocurrency that maintains a 1:1 peg to the U.S. dollar. However, the price in Naira (₦) or other local currencies may vary depending on market conditions, exchange rates, and P2P liquidity.

1. In USD Terms (on Binance Exchange)
On the Binance Spot or Convert platform, 1 USDT = 1 USD. The system treats them as equivalent for trading and display purposes. Prices may sometimes show minor fluctuations like:

• $0.999 (during heavy trading activity),

• $1.001 (if demand spikes temporarily).

These changes are typically fractional and temporary.

2. In Naira (₦) via P2P Trading
If you are in Nigeria, you likely want to know the Naira equivalent of 1 USDT. This value changes constantly on Binance’s P2P market due to supply and demand.

As of July 2025, 1 USDT typically trades between:

• ₦1,470 and ₦1,520 per dollar on P2P.

To check it:

1. Go to P2P Trading in the Binance app.

2. Tap “Buy” and choose USDT.

3. Set your currency to NGN (Naira).

4. You’ll see real-time offers from verified sellers.

The rate you see here reflects the actual market value of 1 USDT in Naira.

3. What Affects the Rate?

• Dollar to Naira black market rates

• Liquidity of sellers on Binance

• CBN policies or FX market shifts

Conclusion:

• In USD: 1 USDT ≈ $1.00

• In NGN: 1 USDT ≈ ₦1,470 to ₦1,520 (subject to change)

Always check Binance P2P for live pricing and confirm with trusted merchants before making transactions.

How to transfer currency on Binance?

Transferring currency on Binance is a simple yet essential function that allows users to move funds between wallets within Binance or to external wallets and bank accounts. The platform supports a wide range of currencies, including cryptocurrencies like USDT, BTC, and BNB, as well as some fiat currencies depending on your region.

1. Internal Transfers Within Binance

Binance has different types of wallets: Spot, Funding (P2P), Margin, Futures, and Earn. To transfer currency within your account:

• Log in to your Binance account.

• Tap or click on “Wallet”.

• Choose “Transfer” (usually visible next to the asset).

• Select the From and To wallets (e.g., from Spot to Funding).

• Choose the currency and enter the amount.

• Confirm the transfer (it happens instantly with zero fees).

This is useful for moving funds to your P2P wallet, trading wallet, or staking.

2. Sending Currency to Another Binance User

You can send crypto directly to another Binance user using their email, phone number, or Pay ID if they’ve enabled the Binance Pay feature.

Steps:

• Go to Binance Pay from the homepage.

• Choose Send.

• Enter the recipient’s Binance ID or Pay ID.

• Choose the currency and enter the amount.

• Tap Send — it’s fee-free and fast.

3. Transferring to External Wallets

To send funds to an external wallet (like Trust Wallet or MetaMask):

• Go to your Spot Wallet.

• Click Withdraw.

• Select the currency you want to transfer.

• Paste the recipient’s wallet address.

• Choose the correct network (e.g., BEP20, ERC20, TRC20).

• Enter the amount and confirm after verifying via SMS/email.

Important: Always double-check the wallet address and network. Sending to the wrong address or network could lead to loss of funds.

4. Fiat Transfers (Bank Withdrawals)

In regions where fiat is supported (e.g., USD or NGN), you can transfer funds to a bank account using Binance P2P or bank withdrawal options.

In conclusion, Binance offers several secure, flexible ways to transfer currency — internally or externally. Just ensure you follow proper procedures, verify addresses, and confirm network compatibility to avoid mistakes.

Can I trade USD on Binance?

Yes, you can trade USD on Binance, but the method and availability depend on your location and regulatory restrictions. Binance offers both direct USD trading pairs and USD-equivalent stablecoins like USDT and BUSD for broader accessibility.

1. Trading USD Directly

If you’re in a supported region such as the United States (using Binance.US) or select parts of Europe and Asia, Binance may allow fiat deposits in USD. Once deposited, you can trade USD for a wide variety of cryptocurrencies, including:

• BTC/USD

• ETH/USD

• BNB/USD

You can also place limit and market orders on the Spot trading platform using USD.

2. Using Stablecoins Instead

For users in countries like Nigeria where fiat USD is not directly available, Binance offers trading through USDT or BUSD, which are stablecoins pegged to the dollar.

These function just like USD in the following pairs:

• BTC/USDT

• ETH/BUSD

• ADA/USDT

Even though you’re not trading “real” USD, you’re effectively using digital dollars. These coins mirror the USD value and are accepted across the Binance ecosystem for trades, loans, staking, and P2P.

3. How to Get USD (or USDT) for Trading

• Use P2P trading to buy USDT using your local currency (e.g., Naira).

• Transfer USDT to your Spot Wallet.

• Begin trading USDT pairs like BTC/USDT or SOL/USDT.

4. USD Trading Limits and Notes

• USD pairs might be limited by country.

• Some countries require identity verification (KYC) to access fiat services.

• USD trading is only available via bank transfers or third-party payment channels.

Conclusion:
Yes, you can trade USD on Binance either directly (in supported countries) or indirectly using USDT and BUSD. For most international users, trading via stablecoins is the best and most practical approach to access USD-denominated crypto assets.

How do I switch my Binance?

If you’re wondering how to switch your Binance account or its settings, the answer depends on what you want to switch — your account, interface, wallet, or region. Binance offers flexibility, but certain switches have limitations based on compliance rules.

1. Switching Between Accounts

If you have multiple Binance accounts (not recommended unless approved), you’ll need to log out of the current one and log into the other:

• On the Binance app, tap your profile > scroll down > tap Log Out.

• On web, click your profile icon > select Log Out.

• Log in again using the other account’s email and password.

You can’t switch accounts with one tap; Binance does not support multi-profile access on one login.

2. Switching Wallets (Spot, Funding, etc.)

If you want to use different wallet sections (e.g., P2P or Futures), here’s how:

• Tap Wallet on your homepage.

• Choose Spot, Funding, Futures, or Earn.

• Use the Transfer option to move funds between them.

This is useful when trading, staking, or using P2P services.

3. Switching Region (e.g., moving countries)

Binance doesn’t allow manual country switching due to KYC compliance. If you’ve relocated, contact Binance Support to request a country change. This may require:

• Proof of new residency

• New ID documents

• Possibly closing your old account and creating a new one

Using VPNs to fake your region is against Binance policy and can result in account bans.

4. Switching Language or Currency Display

To change your interface language or fiat currency:

• Go to Profile > Settings.

• Tap Language to choose from English, French, Arabic, etc.

• Tap Currency to switch from NGN to USD or any other.

These changes affect only how Binance looks and displays values, not your actual holdings.

Conclusion:
“Switching Binance” depends on context—whether it’s accounts, wallets, or settings. You can easily switch between wallet types or change your display preferences. However, switching your country or account has stricter limitations and may require support approval or identity re-verification.

How to purchase USDT from Binance?

Purchasing USDT (Tether) on Binance is one of the most common transactions, especially for users in countries like Nigeria where the local currency is volatile. USDT is a stablecoin that maintains a 1:1 peg with the U.S. dollar and is widely used for trading, saving, or transferring funds.

1. Use Binance P2P (Best for Nigerians)

If you’re in Nigeria or a country where fiat deposits are limited, the P2P (Peer-to-Peer) method is best:

• Log into Binance and tap P2P Trading from the homepage.

• Select Buy > Choose USDT.

• Filter sellers by amount, payment method (e.g., bank transfer), and price.

• Tap Buy next to a trusted seller.

• Enter the amount (e.g., ₦10,000 worth of USDT) and click Buy.

• You’ll see the seller’s bank details. Transfer the money from your bank app.

• Once you pay, click Transferred, Notify Seller.

• When the seller confirms receipt, Binance releases the USDT to your Funding Wallet.

2. Use Credit/Debit Card (In Supported Regions)

If you live in a country where Binance supports fiat purchases:

• Go to Buy Crypto > Credit/Debit Card.

• Select USDT.

• Enter the amount in your local currency.

• Add your card details and confirm the purchase.

Note: Some banks may block crypto-related transactions. Also, fees apply (1%–3%).

3. Use Binance Convert or Spot Market

Once you have fiat or crypto in your Spot Wallet:

• Use Convert to swap BTC, BNB, or ETH to USDT with zero fees.

• Use Spot Trading to buy USDT from other tokens (e.g., BTC/USDT pair).

Conclusion:
The easiest way to purchase USDT on Binance in Nigeria is through P2P using bank transfers. For other regions, buying with a card or converting crypto is just as simple. Always ensure you choose verified sellers or trusted payment methods for a smooth and secure transaction.

Why is USDT expensive on Binance?

Many users notice that USDT (Tether) is sometimes more expensive on Binance, especially when buying through P2P in countries like Nigeria. While USDT is a stablecoin pegged 1:1 to the U.S. dollar, its price can fluctuate locally due to market dynamics. Here’s why USDT appears “expensive” on Binance:

1. Supply and Demand (P2P Market Dynamics)
USDT prices on Binance P2P are driven by user-to-user transactions. In Nigeria, there’s high demand for USDT due to:

• Limited access to foreign currency.

• Restrictions on international payments.

• A growing number of freelancers and crypto traders needing USD equivalents.

Since many users want to buy USDT but few are selling, sellers charge higher rates to maximize profit.

2. Exchange Rate Premium
While USDT is pegged to the USD, sellers often calculate their prices based on the black market (parallel market) exchange rate, not the official CBN rate. For example, if the official USD/NGN is ₦1,400, but the black market rate is ₦1,550, P2P sellers will likely use ₦1,550 or higher when pricing USDT.

3. Inflation and Currency Instability
The Naira has experienced high inflation and devaluation. Because of this, many people rush to convert Naira to a stable asset like USDT. This increases buying pressure and drives up the cost of USDT locally.

4. Transaction Fees and Profit Margins
P2P sellers are also businesses. They factor in:

• Bank transfer fees.

• Binance P2P charges.

• Risk of fraud and chargebacks.

To cover these risks and make a profit, they add a markup to their USDT price.

5. Regulatory Constraints
In regions where crypto regulations are tight, like Nigeria, there’s limited access to direct fiat-crypto gateways. This creates a semi-monopolistic environment for P2P sellers, letting them charge more due to fewer competitors.

Conclusion:
USDT seems expensive on Binance mainly because of supply-demand imbalances, currency devaluation, and market realities in specific countries. It’s not Binance setting the price—it’s individual P2P sellers reacting to local financial conditions. For best rates, always compare sellers, use filters, and transact with verified vendors.

How to convert USD to BTC in Binance?

Converting USD to BTC (Bitcoin) on Binance is simple and fast, whether you’re using a fiat balance, stablecoins like USDT/BUSD, or P2P methods. Here are the most common ways to do it:

1. If You Already Have USD in Your Binance Account

• Go to the Convert feature from the home screen.

• Select USD in the “From” field and BTC in the “To” field.

• Enter the amount of USD you want to convert.

• Preview the conversion and click Confirm.

This is instant and has zero fees. However, this only works if your account supports USD deposits.

2. Use the Spot Market (USD/BTC Pair)

• Tap on Trade at the bottom of your app or web dashboard.

• Select Markets > search for BTC/USD.

• Choose Buy BTC.

• Enter the amount of USD and execute a Market Order (buys immediately) or Limit Order (sets your preferred price).

This method is best for users who want more control over the trading price.

3. Convert USDT to BTC (If You Don’t Have USD)

Most users in countries like Nigeria don’t hold USD directly, so the workaround is:

• First, buy USDT using P2P or other means.

• Then go to Convert or Spot Market and trade USDT to BTC.

Both USDT and BUSD are stablecoins pegged to the USD, making them ideal substitutes for USD in crypto trading.

4. Use Binance P2P (If You Only Have Local Currency)

• Go to P2P > Buy and purchase USDT with your Naira.

• Transfer USDT to your Spot Wallet.

• Use Convert or Trade to buy BTC with USDT.

Conclusion:
You can easily convert USD to BTC on Binance through Convert, Spot Trading, or indirectly via USDT. If you’re outside a region where USD deposits are supported, use P2P to first get USDT, then convert it to BTC. Always double-check fees, trading pairs, and wallet balances before confirming.

Why is USDT not equal to USD?

USDT (Tether) is designed to mirror the value of the U.S. Dollar (USD) in a 1:1 ratio. However, in practice, you might see small or even noticeable differences between USDT and USD prices—especially on platforms like Binance or within peer-to-peer (P2P) marketplaces. There are a few key reasons for this disparity:

1. Supply and Demand in Local Markets
While USDT is meant to equal 1 USD, its actual price can vary based on supply and demand. For example, in countries like Nigeria, where access to the dollar is limited, demand for USDT is high because it’s the easiest way to hold or send digital “dollars.” When demand increases faster than supply, the price of USDT may rise above $1 when converted locally.

2. Trading Platform Fees and Markups
Exchanges like Binance and P2P vendors may include transaction fees, exchange fees, or profit markups when selling USDT. This can make it appear as if 1 USDT is worth more than 1 USD. For example, a vendor selling USDT in Nigeria may price it at ₦1,550 when the official USD exchange rate is ₦1,450.

3. Peg Maintenance Mechanism
USDT is backed by reserves held by Tether Ltd., but it is not a government-issued currency. Its peg to the dollar is maintained by user confidence and redemption guarantees. If confidence shakes due to regulatory concerns or doubts about backing, USDT might temporarily trade below or above $1, especially during market volatility.

4. Regional Economic Factors
Local currency devaluation, inflation, and monetary policy can also affect how USDT is valued in different countries. In places where the USD is scarce, USDT becomes a premium asset—even though globally it’s still pegged to $1.

5. Off-Chain and On-Chain Differences
If you’re buying USDT on the blockchain (on-chain), the price is mostly stable. However, buying USDT through P2P or with fiat (off-chain) often includes local premiums, banking costs, or third-party charges, which can cause temporary price mismatches.

Conclusion:
USDT is theoretically equal to USD, but real-world factors like supply and demand, local exchange rates, fees, and economic instability can cause short-term discrepancies. This is especially evident in P2P markets and regions with currency restrictions. Always check the platform and trading method before assuming USDT equals 1 USD in value.

How to convert Binance crypto to USD?

Converting crypto to USD on Binance is a straightforward process that varies depending on your country of residence, account verification status, and the available trading pairs. Here’s a step-by-step guide to help you convert your crypto into U.S. dollars:

1. Use Binance Convert Tool (Simplest Method)
If your account supports USD:

• Go to the Binance homepage or open the app.

• Tap Trade > Convert.

• Select the crypto you want to convert (e.g., BTC, ETH).

• Select USD as the output currency.

• Enter the amount and click Preview Conversion, then confirm.

This method has zero fees and is ideal for quick conversions without technical trading knowledge.

2. Use the Spot Market
For more control over the conversion price:

• Click on Trade > Spot.

• Search for the crypto/USD pair (e.g., BTC/USD or ETH/USD).

• Choose Sell, enter your order amount, and select a Market Order (for instant sale) or Limit Order (to set your own price).

• Once the trade executes, you’ll receive USD in your Spot Wallet.

This method offers better pricing flexibility but includes small trading fees (typically 0.1%).

3. If USD is Not Available in Your Region
Some regions don’t allow direct USD trading. In such cases:

• Convert your crypto to USDT or BUSD first.

• Then use P2P to sell USDT to a buyer who pays you in your local currency.

• Alternatively, use the Withdraw option to send USDT to an external exchange or wallet that supports USD withdrawals.

4. Withdraw Your USD
Once you have USD in your Binance account, you can:

• Withdraw via SWIFT to a U.S. bank account.

• Or use third-party payment gateways (if supported).

Note that withdrawal fees and minimum limits apply depending on the method.

Conclusion:
You can convert Binance crypto to USD using the Convert tool, Spot Market, or by trading to USDT and cashing out through P2P. The method you choose depends on your location, bank access, and trading needs. Binance gives multiple options to make your USD conversion fast and flexible.

What is USD and USDT on Binance?

On Binance, USD and USDT serve different purposes but are often used in similar ways—especially in trading and currency conversions. Understanding the distinction between them is crucial for new and experienced users.

1. USD (United States Dollar)
USD is the official fiat currency of the United States. On Binance, USD may appear in trading pairs like BTC/USD or ETH/USD, but direct handling of USD (like deposits or withdrawals) depends on your location and verification level.

• In some countries, Binance users can deposit USD via bank transfer, SWIFT, or third-party providers.

• USD can be used directly to buy or sell cryptocurrencies via Spot Market or Convert tools.

• For most Nigerian users, however, USD balances are not supported directly unless using workarounds via USDT or other stablecoins.

2. USDT (Tether)
USDT stands for Tether, a stablecoin that aims to mirror the USD in value (1 USDT ≈ 1 USD). It is blockchain-based, meaning it exists as a digital token on networks like Ethereum, Tron, and BNB Smart Chain.

• On Binance, USDT is commonly used for trading, P2P exchanges, savings, and DeFi products.

• You can buy or sell hundreds of crypto pairs using USDT (e.g., BTC/USDT, ETH/USDT).

• It is the most liquid stablecoin on Binance and in global crypto markets.

3. Key Differences Between USD and USDT

4. When to Use Each

• Use USDT for P2P, fast crypto swaps, and international trading.

• Use USD if you’re in a supported region with banking access and want to trade directly using your bank funds.

Conclusion:
On Binance, USD is real fiat currency, while USDT is a stablecoin that mimics USD value. For Nigerian users or those in regions with fiat restrictions, USDT is more accessible and widely used for transactions, trading, and transfers.

How can I change my Binance region?

Changing your Binance region (country or location) is not a direct feature you can toggle in your settings. Binance links your region to your KYC (Know Your Customer) verification and IP location, so switching countries requires a formal process and compliance with regulations. Here’s how it works:

1. Binance Account is Region-Locked After Verification
Once you’ve verified your account with an ID (passport, NIN, etc.), Binance assigns you to that region. For example, if you used a Nigerian ID, your account is tied to Nigeria, and you’ll only see services available in that region.

2. When You Can Change Your Region

You may want to change your region if:

• You’ve relocated to another country.

• You want to access new features not available in your current country.

• You need to comply with regional rules (for instance, due to local crypto bans).

3. Steps to Change Region on Binance

• Contact Binance Support: Go to the Binance Help Center and open a support ticket.

• Request a country or region update and explain your reason (e.g., relocation, new residence).

• Be ready to submit new KYC documents from your new country, such as passport, ID, utility bill, or proof of residence.

Binance will evaluate your request and may approve a change if you’re genuinely living in the new country.

4. Alternative Method – Create a New Account
If Binance support doesn’t allow region switching, you can:

• Close your current account (optional).

• Create a new Binance account using an email and phone number from the new country.

• Complete KYC with the new region’s documentation.

Warning: Managing multiple accounts is discouraged and could violate Binance’s terms. Always notify support.

5. Consider VPN Risks
Some users try to spoof their region using VPNs. This is risky because Binance can detect VPN usage, and it may flag or suspend your account for suspicious activity.

Conclusion:
To change your Binance region, you need to go through support and submit new KYC documents from the country you reside in. Binance takes regional compliance seriously, so be honest and follow the proper process to avoid penalties or account restrictions.

How do I convert BNB to USDT in Binance?

Converting BNB (Binance Coin) to USDT (Tether) on Binance is a simple process that can be done through either the Convert tool or the Spot Market. Each method suits different user preferences, depending on whether you want speed or better trading control.

1. Using Binance Convert (Easiest Method)

• Log in to your Binance account (web or app).

• Go to the “Trade” section and select “Convert”.

• In the “From” field, select BNB.

• In the “To” field, select USDT.

• Enter the amount of BNB you wish to convert.

• Tap Preview Conversion to see the current exchange rate.

• If you’re satisfied, confirm the trade.

This option is instant, beginner-friendly, and does not charge trading fees, although the rate may slightly differ from the market.

2. Using the Spot Market (Advanced but Flexible)

• Go to Trade > Spot on Binance.

• In the trading pair search bar, enter BNB/USDT.

• Select Sell if you want to turn BNB into USDT.

• Choose Market Order for instant conversion or Limit Order to set your own price.

• Enter the amount of BNB to sell and click Sell BNB.

• The USDT will appear in your Spot Wallet once the order is complete.

This method gives better pricing flexibility and real-time order book interaction, but includes a small trading fee (around 0.1%).

3. Check Your Wallet

After the conversion, head to your Spot Wallet to confirm that the USDT has been credited. You can then use it to trade other coins, withdraw, or sell via P2P.

4. Why Convert BNB to USDT?

• To lock in profits from rising BNB value.

• To hedge against crypto volatility using a stable asset.

• To prepare for withdrawal, P2P sales, or fiat conversion.

Conclusion:
Converting BNB to USDT on Binance is fast and secure. Use Convert for speed and no fees, or Spot Market for better control. Always ensure you’re using the right wallet and network, and check current rates before confirming the swap.

How to convert USDC to USDt in Binance?

USDC and USDT are both stablecoins pegged to the U.S. Dollar but issued by different companies. USDC is backed by Circle, while USDT is issued by Tether. On Binance, converting USDC to USDT is easy and can be done through various trading tools depending on your preference.

1. Use Binance Convert (Beginner-Friendly Option)

• Open Binance and log into your account.

• Go to Trade > Convert.

• In the “From” field, select USDC.

• In the “To” field, select USDT.

• Enter the amount you want to convert.

• Click Preview Conversion and confirm the trade.

This is the fastest and simplest way to convert with no trading fees, although the conversion rate might slightly differ from market value.

2. Use the Spot Market for Full Control

• Navigate to Trade > Spot.

• In the search bar, type USDC/USDT.

• Choose the trading pair and tap Sell USDC.

• Select Market Order for an instant swap or Limit Order to set your preferred price.

• Enter the amount and confirm the trade.

• Your USDT will be credited to your Spot Wallet.

Using the spot market gives access to the best available rates and deeper liquidity, but does incur a small trading fee.

3. Use Auto-Convert in P2P (Optional)

If you plan to sell your USDC through P2P, you can first convert it to USDT, which is more widely accepted on the platform. USDT has far more liquidity and is the preferred stablecoin for peer-to-peer transactions globally.

4. Why Convert from USDC to USDT?

• Liquidity: USDT has broader support on Binance.

• P2P Accessibility: Easier to trade or withdraw using USDT.

• Earning & Savings: More Binance products support USDT than USDC.

Conclusion:
Converting USDC to USDT on Binance is straightforward using the Convert tool or Spot Market. Choose Convert for simplicity or Spot for better rates. Once done, you can trade, transfer, or cash out the USDT with ease.

How to convert USD to TON in Binance?

To convert USD to TON (Toncoin) on Binance, you’ll need to use either a stablecoin like USDT or directly find a trading pair that supports USD and TON. However, USD is not always directly available for trading unless you’re in a region that supports fiat deposits. For most users, especially in Nigeria, the conversion process typically involves an intermediate step using USDT or BUSD.

If you have USD in your Binance account, follow these steps:

1. Log into your Binance account (web or app).

2. Go to the “Trade” section and open “Spot”.

3. In the trading pair search bar, check if there’s a direct USD/TON pair available. If it exists, simply click on it.

4. Choose “Buy TON” if you are converting your USD to Toncoin.

5. Enter the amount and confirm the transaction using a market or limit order.

If USD/TON is not available, you’ll need to first convert your USD to a stablecoin like USDT:

1. Use Binance Convert to swap USD → USDT.

2. Then search for the trading pair TON/USDT.

3. Enter the amount of USDT you want to use and click “Buy TON”.

Alternatively, use the Convert feature:

1. Go to “Trade” and select “Convert”.

2. From: USD (or USDT if converted already)

3. To: TON

4. Enter the amount and preview the conversion.

5. Confirm and the TON will be credited to your Spot Wallet.

Once you’ve received TON in your wallet, you can hold it, transfer it to another wallet, or participate in staking or other DeFi projects if available.

Note that Binance availability varies by region, and users in Nigeria or countries without USD trading support may only see USDT or BUSD pairs instead. In such cases, always convert to USDT first, then to TON.

In summary, while direct USD to TON trading may exist, most users will go through USDT. Binance makes this easy using the Convert tool or the Spot Market, both offering secure and fast methods to complete your trade.

How much is $1 USDT in Naira today?

The value of $1 USDT (Tether) in Naira on Binance varies daily due to changes in the P2P market, exchange rate fluctuations, and crypto demand. As of July 2025, the average rate for 1 USDT in Naira ranges between ₦1,450 to ₦1,530 on Binance P2P.

To check the real-time rate:

1. Log into your Binance account.

2. Go to “P2P” from the homepage or “More” section.

3. Select “Buy” and filter the currency as USDT.

4. Choose your preferred payment method (e.g., bank transfer).

5. You’ll see multiple offers from merchants, each with a slightly different rate depending on transaction volume and seller demand.

The price you get depends on:

• Market demand for USDT in Nigeria

• Dollar-to-Naira exchange fluctuations

• Binance merchant competition

• The current price of USD in the parallel market (black market)

Also, larger transactions often have more favorable rates compared to small-volume purchases. Verified merchants usually offer better deals, and their rates reflect real-time adjustments based on supply and demand.

It’s important to note that USDT closely tracks the U.S. dollar (1 USDT = $1), so the P2P price in Naira reflects the prevailing USD/NGN rate, not fluctuations in USDT itself.

Additionally, Binance charges no fees for P2P trading, but be cautious of fraud by only dealing with verified merchants, checking ratings, and using Binance’s escrow system.

To get the best value:

• Compare rates from different sellers

• Choose high-rated, verified merchants

• Confirm seller’s payment time and order limits

In conclusion, $1 USDT is currently valued between ₦1,450 and ₦1,530 in Nigeria via Binance P2P. This makes USDT a reliable option for storing value and converting between crypto and fiat without using the formal banking system directly. Always monitor the P2P market daily for the best exchange rates.

How to convert on Binance app?

To convert assets using the Binance app:

1. Open and log in to your Binance app (ensure you have completed KYC verification).

2. Tap “Trade” at the bottom navigation bar.

3. Select “Convert” from the menu.

4. In the “From” field, choose the crypto or fiat you want to convert (e.g., BTC, BNB, USDT, USD).

5. In the “To” field, select the asset you want to receive (e.g., USDT, BUSD, BTC).

6. Enter the amount.

7. Tap “Preview Conversion” to check the rate, expected output, and any spread.

8. Confirm the conversion if you’re satisfied.
   No separate trading order is required, and the process is instant and fee-free.
   Convert is ideal for simple swaps between supported assets; for advanced trades or limit orders, use the Spot Market under “Trade.”
   Remember, some pairs might not be available in Convert due to regional or liquidity constraints; Spot will likely have those pairs.
   Always verify amounts and final wallet credit before proceeding.

How to swap Naira to USDT?

Swapping Naira (NGN) to USDT on Binance is done via P2P trading—there is no official NGN-to-USDT Convert. Here’s how:

1. Log in and go to “P2P” from the home screen.

2. Tap “Buy”, select USDT, and set your currency to NGN.

3. Apply filters such as Bank Transfer only, and sort by rate or seller reliability.

4. Choose a verified merchant with high completion and good reviews.

5. Enter the amount of NGN you want to spend.

6. Tap “Buy USDT”, and follow instructions. Supply your bank details as requested.

7. Transfer NGN from your bank account to the seller before the timer expires.

8. After the seller confirms receipt, Binance releases the USDT into your Funding Wallet.

9. Optionally, transfer it to your Spot Wallet for further use.

Tips: avoid underpayment, release only after confirmation, verify seller ratings, and act quickly (bank transfers can sometimes be reversed).

How much is $1 in Naira in Binance?

The Binance P2P rate for $1 (via USDT) in NGN fluctuates daily based on market conditions. As of mid-2025, it’s typically between ₦1,450 and ₦1,530. You can check real-time rates like this:

1. Open Binance and go to P2P > Buy > USDT (NGN).

2. Observe the listed offers; the top ones usually indicate the current NGN price per $1.

3. The actual rate depends on seller volume, local dollar scarcity, and exchange demand.
   Note: Binance does not display official FX rates; P2P reflects free-market dynamics.
   To get the best value, compare offers, choose high-rated sellers, and monitor prices regularly.

What app converts USDT to Naira?

Binance’s P2P feature is the safest and most popular method for converting USDT to Naira, since it directly matches sellers and buyers at NGN-denominated prices. To use P2P:

1. Go to P2P > Sell > USDT, with currency set to NGN.

2. Filter for Bank Transfer and select a trusted buyer.

3. Enter your USDT amount, confirm, receive NGN via bank transfer.

4. Once funds show in your account, click Release Crypto, and Binance sends USDT.

Alternatively, other P2P platforms like Paxful, LocalBitcoins, or Remitano also support USDT-NGN trades. However, Binance P2P offers tighter security, escrow protection, and fewer fees, making it a preferred choice for many Nigerian users.

How to change USDT to dollar in Binance?

USDT is already pegged to the U.S. dollar at approximately 1 USDT = $1 USD, so no actual conversion is needed within Binance. If you wish to view your USDT balance as dollars:

1. Go to Profile > Settings.

2. Change your Display Currency to USD.

3. Your USDT and other holdings will now show in U.S. dollar equivalents.

If your goal is to withdraw actual USD you’d need a USD bank account supported by Binance. In regions where this isn’t available, using P2P or external exchanges to cash out to USDT or local fiat remains the most practical route.

How much is a dollar in Binance today?

To find the current value of $1 USD on Binance, especially if you’re using local currency like Naira, you typically check the P2P market:

1. Go to P2P > Sell/Buy, or Buy > USDT if viewing “value of USD in NGN.”

2. Binance treats 1 USDT ≈ $1 USD, so the price of 1 USDT reflects the value of $1.

3. Offers from verified merchants list the Naira equivalent (e.g., ₦1,470–₦1,530 per USDT).

Thus, on Binance P2P, the cost of $1 dollar is essentially the NGN price for one USDT. It fluctuates daily depending on market demand, liquidity, and bank transfer trends.

How do I change the currency in Binance?

To change your displayed currency on Binance:

1. Open the app or web and log in.

2. Go to your profile icon (top-left on app; top-right on web).

3. Select Settings or Preferences.

4. Tap Currency and choose your desired fiat (e.g., USD, NGN, EUR).

5. Exit and refresh. Your balances and prices will now display in the new currency.

Changing display currency doesn’t convert assets—it simply shows their equivalent value in your preferred fiat.

How much is 1 dollar BTC in Naira?

To calculate the value of 1 USD worth of BTC in Naira, follow these steps:

1. Determine the current BTC/USD spot price on Binance.

2. Multiply by the current USD/NGN P2P rate (from USDT offers).

3. Example: If BTC is $60,000 and USD/NGN is ₦1,500, then ₦1 dollar of BTC = ₦1,500 × (1 USD worth of BTC amount).

Since BTC is traded in fractions, you can check by:

• Viewing BTC/USDT price (equivalent to BTC/USD).

• Comparing it with a USDT/NGN P2P rate.

• Calculate: BTC per dollar × NGN per dollar gives you the NGN value of $1 worth of BTC.

How do I convert my USDT?

To convert USDT on Binance:

1. Open Trade > Convert.

2. From: USDT; To: the asset you want (e.g., BTC, BUSD, NGN).

3. Enter the amount and preview conversion.

4. Confirm. Funds transfer instantly to your Spot Wallet.

Alternatively, use Spot Market:

• Find USDT/DesiredPair.

• Choose Market or Limit order, enter amount, and execute.

How to withdraw Naira from Binance?

Withdrawing Naira is done via P2P:

1. Go to P2P > Sell > USDT.

2. Select NGN and filter by payment method (e.g., bank transfer).

3. Choose a reliable buyer, enter the USDT you wish to sell.

4. Click Sell USDT—seller transfers NGN to your bank.

5. After receiving funds, click Release Crypto on Binance.

6. Funds are your bank within minutes (depending on the bank).

Make sure to use verified merchant accounts and confirm all payments before releasing crypto.

How much is $1 USDT in Naira?

Currently, 1 USDT in NGN on Binance P2P ranges around ₦1,470–₦1,530. Browse P2P listings to view real-time values offered by top merchants.

How much is $100 BTC in Naira on Binance?

To find ₦ equivalent of $100 of BTC:

1. Check BTC/USDT rate (e.g., $60,000/BTC).

2. Divide $100 by price: 100 ÷ 60,000 = 0.001667 BTC.

3. Multiply by current USDT/NGN rate (e.g., ₦1,500):

   • ₦ Pricing = 0.001667 × ₦1,500 ≈ ₦2,500.

Rates vary so use Binance P2P and Spot Market for up-to-date numbers.

How to use Binance to transfer USDT?

Transferring USDT on Binance is a straightforward process and can be done either to another Binance user or to an external wallet or exchange. Here’s how you can successfully send USDT from your Binance account:

1. Log in to your Binance Account:
Open your Binance mobile app or web browser and log in with your credentials. Make sure you’ve completed KYC verification and have some USDT in your Spot or Funding wallet.

2. Go to Wallets Section:
Click on “Wallet”, then select either Spot, Funding, or the wallet where your USDT is stored. Tap on USDT (Tether) to bring up the token menu.

3. Tap “Withdraw”:
Choose “Withdraw”, then select “Crypto” since you are transferring USDT.

4. Enter Recipient Address:
Paste the destination wallet address (where the USDT is going). Make sure the network selected matches the address type — such as TRC20, ERC20, or BEP20.
Sending to the wrong network can permanently result in the loss of funds.

5. Choose the Network:
Select the correct blockchain network that matches the receiver’s wallet address.

• TRC20 (Tron) has lower fees and is fast.

• ERC20 (Ethereum) is more expensive and slower.

• BEP20 (Binance Smart Chain) is cost-efficient and supported by most wallets.

6. Enter Amount and Confirm:
Type the amount of USDT to send, check the withdrawal fee, and verify the net amount the recipient will get. Tap “Withdraw” and confirm your action. Binance will ask for 2FA verification codes (email, SMS, Google Authenticator).

7. Wait for Blockchain Confirmation:
After submission, you’ll see the status of the transfer under the Transaction History. Most networks confirm within minutes, but ERC20 can take longer.

Transferring to another Binance user?
Use the “Send via Email/Phone/UID” under the Funding Wallet → Send option. This method is instant, fee-free, and doesn’t require a blockchain transaction.

Always double-check wallet addresses, especially when copying and pasting. For safety, start with a small test transfer if you’re unsure.

This method works for transferring USDT to wallets like Trust Wallet, other exchanges, or even external crypto services.

How much is 1 Binance in Naira?

When people ask “how much is 1 Binance in Naira,” they are usually referring to the value of 1 BNB (Binance Coin) in Nigerian Naira (₦). BNB is Binance’s native cryptocurrency and is used to pay fees, access token sales, and participate in the Binance ecosystem.

To find the real-time value of 1 BNB in NGN, follow these steps:

1. Open the Binance App or Website and log in.

2. Go to Markets, then search for BNB/USDT or BNB/NGN.

3. If NGN is not listed directly, check the BNB price in USDT and multiply it by the current USDT to NGN rate on P2P.

For example, if:

• 1 BNB = 240 USDT

• 1 USDT = ₦1,500

• Then, 1 BNB ≈ 240 × 1,500 = ₦360,000

This value fluctuates depending on the crypto market and the local peer-to-peer (P2P) exchange rate for the naira. Binance doesn’t offer direct fiat-to-BNB trading for NGN, so converting through USDT is the most accurate way.

You can also calculate using the P2P market:

• Go to Binance > P2P > Buy USDT (to find NGN/USDT rate).

• Use this rate to compute the NGN value of any crypto, including BNB.

Another method is to use crypto price aggregators like CoinMarketCap or CoinGecko to check BNB’s dollar price, then use Binance’s P2P market to convert to naira.

Why the BNB to Naira rate varies:

• The crypto market is volatile.

• NGN to USDT rates fluctuate due to forex and demand/supply.

• Fees, trading volume, and payment methods affect P2P offers.

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Always ensure you are using reliable sources when calculating conversions and consider checking multiple merchants to get the best NGN rate for buying or selling BNB. Also, beware of fake BNB tokens when transferring or storing.

If you plan to buy BNB in naira, use P2P to buy USDT, then convert that USDT to BNB via Binance Convert or Spot Trading.

How to use P2P on Binance?

Using Binance P2P (peer-to-peer) allows you to buy and sell cryptocurrencies like USDT, BTC, or BNB directly with other users using local currency, such as the Nigerian Naira (NGN). It’s especially useful in Nigeria where direct card deposits are limited. Here’s a step-by-step guide to using Binance P2P effectively:

1. Log into Binance and Go to P2P:
Open the Binance app or website and log in to your account. On the homepage, tap “P2P” (usually found under “Trade” or “More”). You’ll be taken to the P2P dashboard where you can choose to Buy or Sell.

2. Choose Your Crypto and Currency:
Select the crypto you want to buy or sell (e.g., USDT, BTC, BNB, ETH) and set your fiat currency to NGN (Naira). You’ll see a list of available merchants and their prices.

3. Filter Offers (Optional):
Use the filter tool to select your preferred payment method (e.g., bank transfer, Opay, Kuda), input the amount you want to trade, and sort by “Best Price” or “Verified Merchants” for safer transactions.

4. Select a Merchant:
Choose a seller or buyer with good reviews, a high completion rate (above 90%), and a reasonable price. Tap “Buy” or “Sell”.

5. Enter Amount and Confirm:
Input the amount of NGN or USDT you want to transact. Review the terms and click “Buy USDT” (or the corresponding button if selling).

6. Make Payment (When Buying):
If you’re buying, you’ll receive the seller’s bank account details. Transfer the exact amount within the time limit and click “Transferred, Notify Seller.” Never click this before payment.

7. Wait for Release (When Buying):
The seller will confirm the payment and release the crypto to your Binance Funding Wallet. You’ll get a notification when it’s complete.

8. Confirm and Rate (Optional):
Once the trade is successful, you can leave a review for the merchant to help others identify reliable traders.

Extra Tips:

• If selling, ensure you’ve moved crypto to your Funding Wallet before the trade.

• Use only trusted merchants, especially for large amounts.

• Don’t release crypto until you’ve confirmed payment in your bank account (if selling).

Binance P2P is one of the best ways to access crypto in Nigeria without high fees, and it’s safe when used properly.

How much is $1 in Binance?

The value of $1 in Binance typically reflects the rate of 1 USDT (Tether) or 1 BUSD (Binance USD), which are both stablecoins pegged to the U.S. dollar. However, when you’re in Nigeria or using a non-USD currency, the actual value of $1 on Binance can vary based on the current exchange rate in the P2P market.

To know how much $1 is worth in Binance (especially in naira), follow these steps:

1. Log in to your Binance Account:
Open the app or website and sign in with your email and password.

2. Navigate to P2P Trading:
From the homepage, tap “P2P” or go through Trade > P2P to access peer-to-peer transactions.

3. Select “Buy USDT” or “Buy BUSD”:
These stablecoins are equal to $1. Look at the offers from merchants in the NGN market to find out how much naira is required to get 1 USDT.

4. Check the Rate:
For example, if the top merchant is selling USDT at ₦1,500, then $1 ≈ ₦1,500 in Binance. This means that if you want to fund your account with $100, you’ll need about ₦150,000 at that rate.

Note that the P2P rate is not fixed—it’s determined by the local crypto market based on demand and supply. On days when the dollar is high on the black market, the price of $1 in Binance can rise significantly.

Factors Influencing the $1 Value in Binance:

• Naira exchange rate fluctuations

• Market demand for USDT and BUSD

• Liquidity of P2P merchants

• Current macroeconomic conditions

Is it always equal to $1?
Yes, in a dollarized sense. 1 USDT or 1 BUSD always equals 1 USD. But in naira terms, $1 could be ₦1,200 one day and ₦1,600 another, depending on the P2P price.

To get the most accurate and updated price:

• Open Binance

• Go to P2P

• Filter offers for “USDT” and set payment method to “Bank Transfer”

• View the rate of 1 USDT = ₦X

This will show you how much $1 currently costs in Binance based on the Nigerian P2P market.

How to change USDT to USD Binance?

Changing USDT to USD on Binance can be slightly confusing because USDT (Tether) is a stablecoin pegged to the US Dollar, meaning 1 USDT ≈ 1 USD. However, you might want to convert USDT into actual USD fiat currency for withdrawal, trading, or portfolio management. Binance does not support direct USDT-to-USD bank withdrawals for Nigerian users, but you can still convert it internally or sell it. Here’s how:

1. Convert USDT to BUSD or USD Trading Pair:
If you’re looking for a more formal USD-based token:

• Go to Trade > Convert.

• Choose USDT as the asset to convert from.

• Select BUSD or USD (if available) as the asset to convert to.

• Enter the amount and confirm the transaction.

Note: BUSD is Binance’s former USD stablecoin, though it is being phased out in 2024/2025, so some users now switch from USDT to FDUSD or TUSD instead.

2. Sell USDT for USD in the Spot Market:
If Binance has a USDT/USD pair listed:

• Go to Trade > Spot.

• Search for the USDT/USD trading pair.

• Place a Market Sell order.

• This will convert your USDT into actual USD balance in your Spot Wallet.

3. Withdraw USD (If Supported):
If Binance allows USD withdrawal to your region (not common in Nigeria), go to Wallet > Withdraw > Fiat, select USD, and choose a withdrawal method like SWIFT. But this option is limited for Nigerian users due to restrictions on dollar banking.

4. Sell USDT for Local Currency via P2P (Alternative):
If your goal is to get real cash value, then selling the USDT via Binance P2P may be more practical:

• Go to P2P on Binance.

• Tap Sell USDT.

• Set fiat currency to NGN and choose your payment method (e.g., bank transfer).

• Complete the sale and receive naira equivalent of your USDT.

Conclusion:
While you can convert USDT to USD in trading pairs, most Nigerian users use USDT simply as a store of dollar value. For real cash-out, P2P remains the best option. Always ensure you’re selecting the correct trading pair and that your region supports the withdrawal method you want to use.

What payment methods are available on Binance P2P?

Binance P2P offers users a wide variety of payment methods to make buying and selling cryptocurrency as flexible and accessible as possible. The available payment methods differ based on the country and currency you’re using. For Nigeria, where the fiat currency is NGN (Naira), Binance supports a broad range of local payment methods to facilitate fast and easy transactions between buyers and sellers.

1. Bank Transfer (Recommended in Nigeria):
This is the most widely used method on Binance P2P for Nigerian users. It allows you to transfer funds directly from one bank account to another. Most merchants and buyers prefer this option due to its reliability and instant confirmation.

2. Fintech and Mobile Bank Apps:
Platforms like Opay, Kuda, PalmPay, Moniepoint, and FairMoney are also popular. Many users choose these apps for their speed and low transfer fees. Always confirm with the merchant that they accept the specific mobile app you’re using.

3. E-wallets and Payment Gateways:
While less common in Nigeria, Binance P2P in other countries supports Payeer, Skrill, Revolut, Wise (formerly TransferWise), and Paytm. These options are more common in countries like India, the UK, and Europe.

4. Cash Payments (Physical Meetups):
Binance also supports the “Cash in Person” option, but this is risky and not recommended unless both parties are trusted and secure procedures are followed.

5. Third-Party Digital Bank Transfers:
Digital-only banks such as VBank, ALAT by Wema, or Rubies Bank can also be used. As long as they support fast NUBAN transfers, they’re acceptable on Binance P2P.

6. Mobile Money (Other Countries):
In countries like Kenya and Ghana, methods like M-PESA and MTN Mobile Money are supported. These are not commonly used in Nigeria but are important regionally.

Setting up Your Payment Method:

• Go to Profile > Payment Settings in the Binance P2P section.

• Tap “Add Payment Method.”

• Choose from available options for your country.

• Enter your details correctly (account name, number, etc.).

Important Tips:

• Use only names that match your Binance verification to avoid issues.

• Never send crypto before confirming payment.

• Avoid using shared or third-party bank accounts.

Binance P2P is flexible and adapts to regional needs, making it easy for users in Nigeria and beyond to buy and sell crypto safely.

How to buy dollars in Binance?

Buying dollars in Binance usually means purchasing a stablecoin such as USDT (Tether) or FDUSD, both of which are pegged to the US dollar at a 1:1 ratio. This is especially useful in countries like Nigeria where holding dollars can protect against currency devaluation. Binance does not allow you to buy physical USD, but you can buy these digital dollar equivalents easily using Naira through the P2P (peer-to-peer) platform or spot trading. Here’s how to go about it:

1. Open Binance and Log In:
Visit the Binance app or website and sign in to your account. If you don’t have an account yet, create one and complete identity verification (KYC).

2. Go to P2P Trading:
From the homepage, tap “P2P” or go to Trade > P2P. This allows you to trade directly with other users using your local currency, including Nigerian Naira (NGN).

3. Select “Buy” and Choose USDT:
Tap the Buy tab and select USDT (which represents digital dollars). You will see a list of verified merchants offering USDT for sale at various exchange rates.

4. Filter for Your Preferred Payment Method:
Use the filter option to select your payment method (e.g., Bank Transfer, Opay, Kuda) and enter the amount of naira you want to use.

5. Choose a Seller:
Pick a seller with a high completion rate and good reviews. Tap “Buy USDT” and enter the amount of naira you want to spend.

6. Make Payment:
You’ll be shown the seller’s bank account details. Make a manual transfer from your bank or fintech app and tap “Transferred, Notify Seller” only after the payment is done.

7. Receive USDT in Your Wallet:
Once the seller confirms your payment, Binance will release the USDT into your Funding Wallet. You now own the digital equivalent of US dollars.

8. Move to Spot Wallet (Optional):
To trade or hold long-term, go to Wallet > Funding, then Transfer the USDT to your Spot Wallet.

Why Use Binance to Buy Dollars?

• No need for foreign bank accounts

• Faster and cheaper than black market rates

• Access to crypto investments and global transactions

This is the safest and most effective method to hold and use dollars digitally in Nigeria through Binance.

Is P2P still working on Binance?

Yes, P2P (peer-to-peer) trading is still working on Binance, and it remains one of the most active and reliable ways for users, especially in Nigeria and other countries with limited fiat deposit options, to buy and sell cryptocurrencies using their local currency. Binance P2P is particularly useful when traditional banking restrictions prevent direct deposits or withdrawals in foreign currencies like USD.

Why Binance P2P Is Still Active:

1. High Demand in Countries Like Nigeria:
   Due to tight regulations and restrictions on crypto-related bank transactions, Binance P2P has become a vital bridge between fiat (like the Naira) and crypto. This keeps the platform active and heavily used by Nigerian traders.

2. Wide Range of Supported Payment Methods:
   Binance P2P supports payment via bank transfer, Opay, Kuda, PalmPay, and many other local financial platforms, making it flexible and convenient. Users continue to trade daily using these options.

3. Availability of Popular Stablecoins:
   You can still buy and sell major stablecoins like USDT, BTC, BNB, and ETH using your local currency. USDT remains the most commonly traded coin on the P2P platform.

4. Regular Updates and Enhancements:
   Binance continues to improve the user experience on the P2P platform by introducing safer transaction features such as identity verification, order limits, merchant rating systems, and dispute resolution.

5. No Reported Suspension of P2P in Major Regions:
   As of July 2025, there has been no official notice from Binance suspending P2P services globally or in Nigeria. If any service disruption were to occur, Binance typically announces it in advance via email or on their official channels.

How to Confirm P2P Is Working for You:

• Open the Binance app or website.

• Navigate to Trade > P2P.

• Choose your crypto (e.g., USDT).

• Filter for NGN (Naira) or your local currency.

• If you see offers and can complete a transaction, P2P is working.

What to Do If It’s Not Working:

• Check your internet connection or update the app.

• Make sure your Binance account is verified (KYC).

• Contact Binance support if P2P doesn’t load or if payment methods are missing.

In summary, Binance P2P is fully operational, and for many users in Nigeria, it remains the safest and fastest way to trade crypto using local bank accounts or fintech apps.

How to change payment method in Binance P2P?

Changing your payment method on Binance P2P is a simple but important step if you want to buy or sell crypto smoothly. Since Binance P2P relies on direct transfers between users, your payment method must be correctly set up for successful transactions. Whether you’re adding a new bank account, switching to a fintech app like Opay or Kuda, or editing existing details, you can do so easily through your P2P profile.

Here’s a step-by-step guide to change your payment method on Binance P2P:

1. Open the Binance App or Website:
Login to your Binance account. If you’re on the app, tap the “P2P” section from the homepage or go through Trade > P2P.

2. Go to Payment Settings:

• Tap on your profile icon in the top right corner of the P2P page.

• Select “Payment Methods.”
  This will show you all the payment methods you’ve already linked.

3. To Add a New Payment Method:

• Click or tap on “Add a New Payment Method.”

• Select from available options like Bank Transfer, Opay, PalmPay, Kuda, or any other supported methods in your country.

• Enter the correct account name, number, and bank/app name.

• Save your changes.

4. To Edit an Existing Payment Method:

• Click the payment method you want to edit.

• Update any outdated information (such as a changed account number or app name).

• Tap “Confirm” to save.

5. To Remove a Payment Method:

• Tap the payment method you want to remove.

• Scroll down and choose “Delete.”
  You’ll be asked to confirm the action.

Important Tips:

• The account name must match your Binance verification name (KYC).

• You can have multiple payment methods saved and active.

• Make sure your selected payment method is available for both buying and selling crypto.

• Always update your payment methods before creating P2P ads to avoid failed transactions.

Why You Should Keep It Updated:
Outdated or incorrect payment details can result in canceled orders, delayed payments, or disputes. It also reduces trust between you and other traders on the P2P network.

By keeping your Binance P2P payment methods current, you ensure smooth, fast, and secure transactions whether you’re buying or selling cryptocurrency in Nigeria or elsewhere.

Where is the P2P wallet in Binance?

The P2P Wallet on Binance is where all your assets from peer-to-peer transactions are stored before you transfer them to your Spot Wallet or another wallet within the app. It acts as a temporary holding account specifically for funds that you buy or sell via Binance’s P2P marketplace. If you’re using Binance to trade crypto like USDT, BTC, BNB, or ETH with local currency (e.g., Nigerian Naira), understanding how to locate and use your P2P wallet is essential.

Here’s how to find your P2P Wallet on Binance:

1. Open the Binance App or Website:
Log into your Binance account on either the mobile app or the web platform. Make sure your app is updated to the latest version for the smoothest experience.

2. Navigate to the Wallet Section:
From the homepage, tap on “Wallet” at the bottom or top of the screen, depending on your device.

3. Tap “Funding” Wallet:
Binance does not label it directly as “P2P Wallet” anymore. Instead, all P2P transactions are now stored under the Funding Wallet tab. This is where crypto like USDT or BTC lands after a P2P purchase.

4. View P2P Balance:
Inside the Funding Wallet, you will see the balance of cryptocurrencies received from your P2P trades. You can click on each asset to view your transaction history, including completed buys and sells.

5. Transfer to Spot Wallet (Optional):
If you want to use your crypto for trading or withdrawal, tap on “Transfer” to move the funds from your Funding Wallet to your Spot Wallet. This process is instant and free.

Important Notes:

• Don’t confuse the Spot Wallet with the Funding Wallet—P2P funds always land in the Funding Wallet first.

• You cannot place Spot orders directly from the P2P (Funding) Wallet.

• When selling via P2P, Binance automatically deducts from the Funding Wallet only.

Summary:
The P2P Wallet in Binance is now called the Funding Wallet. This is where all peer-to-peer trade crypto funds are deposited and withdrawn. It’s accessible under the “Wallet” section and is essential for managing your crypto after buying or before selling on the P2P platform.

Does Trust Wallet have P2P?

No, Trust Wallet does not currently support P2P (Peer-to-Peer) trading directly within the app. Trust Wallet is a decentralized, non-custodial wallet that gives users full control over their private keys and digital assets. Unlike Binance or other centralized platforms that offer P2P marketplaces, Trust Wallet is primarily focused on storage, swapping, and direct blockchain transactions rather than direct user-to-user trading.

However, while P2P isn’t a native feature in Trust Wallet, there are still indirect ways to engage in P2P trading using the wallet in combination with other platforms.

Here’s what you need to know:

1. No Built-in P2P Feature:
Trust Wallet doesn’t have a dedicated section for matching buyers and sellers, like Binance P2P. There’s no order book, no price listings, and no escrow service built into the wallet. This means you can’t sell or buy crypto directly from other users within the app.

2. You Can Receive Crypto from P2P Buyers:
You can use Trust Wallet to receive cryptocurrencies if you’re selling on a P2P platform like Binance or Paxful. During the transaction, you’ll provide your Trust Wallet address to the buyer, and they’ll send crypto directly to you once payment is confirmed.

3. Integration with DEX and DeFi:
Trust Wallet does support decentralized exchanges (DEXs) like Uniswap, PancakeSwap, and 1inch, which allow you to trade directly from your wallet. However, these are not considered P2P in the traditional sense since you’re trading against liquidity pools, not directly with other individuals.

4. Safety Considerations:
Since there is no escrow feature in Trust Wallet, P2P trades conducted manually using wallet addresses are risky. You could lose funds if the other party fails to fulfill their end of the deal. This is why using platforms with escrow protection, like Binance P2P, is safer for such transactions.

5. Use in Conjunction with P2P Platforms:
You can use Trust Wallet as your crypto storage after buying USDT or BTC on a P2P platform. For instance, buy USDT on Binance P2P, then transfer it to Trust Wallet for safekeeping or further DeFi use.

Conclusion:
Trust Wallet does not offer a native P2P feature, but it can be used in combination with external P2P platforms. It’s best used as a secure crypto wallet rather than a trading hub. For safe P2P transactions, it’s recommended to use platforms like Binance that provide escrow and user verification systems.

What does P2P mean on Binance?

P2P on Binance stands for “Peer-to-Peer” trading, a system that allows users to buy and sell cryptocurrencies directly with each other using local currencies like Naira (NGN), bypassing the need for banks or centralized exchanges. On Binance P2P, the platform only acts as a middleman to ensure safety and does not handle your money directly. It connects buyers and sellers while holding the crypto in escrow until both parties complete the transaction.

How Binance P2P Works:

1. Buyers and Sellers Post Offers:
   Users on the platform list ads offering to buy or sell crypto (like USDT, BTC, or BNB). Each ad includes the price, payment methods accepted, and transaction limits.

2. Escrow System Ensures Safety:
   When a buyer places an order, Binance holds the seller’s crypto in escrow. This means the coins are locked and can’t be withdrawn until the payment is confirmed.

3. Direct Bank or App Transfer:
   The buyer pays the seller using the payment method listed—usually a bank transfer, Opay, Kuda, or PalmPay in Nigeria. Binance does not process the fiat payment; it happens directly between users.

4. Crypto Is Released:
   After the seller confirms receipt of payment, the crypto is released from escrow to the buyer’s Funding Wallet.

Benefits of P2P Trading on Binance:

• Access to Dollar-Backed Assets: Even in countries with forex restrictions, users can buy stablecoins like USDT that are pegged to the dollar.

• Multiple Local Payment Methods: Traders can use local banks or fintech apps.

• Zero Fees for Most Trades: Binance P2P doesn’t charge a trading fee for most basic buy/sell transactions.

• Escrow Protection: Reduces the risk of scams and fraud during the transaction.

Common Uses of Binance P2P:

• Buying USDT to save in dollars or use on other crypto investments.

• Selling crypto for local currency (like naira) when you need cash.

• Arbitrage trading between different platforms.

Important Notes:

• Always verify payment before releasing crypto.

• Only deal with verified traders with a high completion rate.

• Use the in-app chat and dispute resolution if issues arise.

In summary, P2P on Binance is a safe, user-friendly, and local-friendly way to convert between fiat currency and crypto. It’s a game-changer in regions where traditional banking systems limit access to global crypto markets.

How to sell dollars in Binance?

Selling dollars on Binance usually refers to selling USDT (Tether) or other stablecoins pegged to the US dollar in exchange for your local currency, such as the Nigerian Naira (NGN), through the Binance P2P (peer-to-peer) platform. This is the most popular and straightforward method for users in countries like Nigeria to cash out their crypto holdings.

Here’s a detailed step-by-step guide to help you sell dollars (USDT) on Binance:

1. Log in to your Binance account
Open the Binance app or website and log in using your verified account. Make sure your account has passed KYC verification to access the P2P marketplace.

2. Navigate to the P2P Trading Section

• On the home screen, tap “P2P” or go to Trade > P2P.

• Select the “Sell” tab at the top of the screen.

• Choose USDT (or another dollar-pegged stablecoin such as BUSD or USDC).

3. Choose a Buyer

• You’ll see a list of buyers offering to purchase USDT with Naira or your selected local currency.

• Filter the list by payment method (e.g., bank transfer, Opay, Kuda, etc.), amount range, and trader reputation (completion rate and number of orders).

• Select a buyer with a good track record and suitable limits.

4. Enter the Amount You Want to Sell

• Click on the “Sell” button next to your chosen buyer.

• Enter how much USDT you want to sell or how much Naira you want to receive.

• Confirm the payment method you want the buyer to use to pay you (e.g., your bank account or fintech wallet).

5. Confirm and Wait for Payment

• Binance will hold your USDT in escrow until the transaction is complete.

• The buyer will transfer the money to your bank or app account.

• Once you receive the payment, manually confirm that you’ve been paid.

6. Release the Crypto
After confirming that the money has arrived in your account, tap “Payment Received”, then “Confirm Release” to complete the transaction. The buyer will receive the USDT, and your sale is complete.

Important Tips:

• Never release crypto before confirming that you’ve received the money.

• Only use verified payment methods that match your name.

• Avoid middlemen and always communicate within the Binance app.

Conclusion:
Selling dollars (USDT) on Binance is safe and simple using P2P. With the right buyer, you can quickly convert your crypto to Naira or any other supported local currency and receive the funds in your preferred account.

How to use Binance for beginners?

If you’re new to Binance, the platform may seem a bit overwhelming due to its wide range of features. However, with a few guided steps, beginners can easily start buying, selling, and managing cryptocurrencies. Binance is one of the world’s largest and most trusted cryptocurrency exchanges, offering services like spot trading, P2P trading, futures, savings, and more. Here’s a simple breakdown of how to use Binance as a beginner:

1. Create and Verify Your Account

• Visit www.binance.com or download the Binance mobile app.

• Register using your email or phone number.

• Complete identity verification (KYC) by uploading your ID and taking a selfie. This unlocks full access to the platform.

2. Secure Your Account

• Enable 2-Factor Authentication (2FA) using Google Authenticator or SMS.

• Set up security questions or anti-phishing codes to protect your account from scams.

3. Fund Your Binance Wallet

• You can deposit crypto from another wallet or use the P2P trading feature to buy crypto like USDT using your local currency (e.g., Nigerian Naira).

• On P2P, choose a seller, pay via bank transfer or Opay, and Binance holds the crypto in escrow until the trade is completed safely.

4. Buy and Sell Crypto

• Use the “Trade” tab and select “Convert” if you want a simple interface to exchange one crypto for another instantly.

• Use Spot Trading if you want more control over market or limit orders.

5. Store or Transfer Crypto

• You can keep your crypto in your Binance wallet or transfer it to an external wallet like Trust Wallet for better control.

• Use the Withdraw option under your wallet to send coins to other platforms or wallets.

6. Explore Other Features

• Earn: Stake or save your crypto to earn interest.

• Launchpad: Invest early in new projects.

• NFT and Web3 Wallet: Access decentralized apps directly from Binance.

7. Monitor the Market

• Use the app’s price chart, watchlists, and news sections to stay updated.

• Set price alerts to notify you when your desired coin hits a specific price.

8. Customer Support

• Use the in-app chat or Help Center for answers to common questions.

• Binance also has a support ticket system and an active Telegram community.

Conclusion:
For beginners, Binance offers an intuitive layout, educational tools, and secure transactions. Start with P2P or Convert features before moving to more advanced tools. Always double-check addresses, use security features, and never share your private keys. With time, you’ll be able to navigate the platform confidently and make the most of its features.

How do I apply for Binance P2P merchant?

Applying to become a Binance P2P Merchant is a strategic move if you want to make money by buying and selling cryptocurrencies directly on the platform. As a merchant, you gain visibility, higher trading limits, and priority support, which helps build trust with users looking to trade. However, the application process requires that you meet certain qualifications and maintain a high level of professionalism and compliance.

Here’s a step-by-step guide on how to apply for Binance P2P Merchant:

1. Meet the Basic Requirements
Before applying, make sure you meet the following eligibility conditions:

• Have completed at least 20 successful P2P trades.

• Maintain a 90%+ order completion rate.

• Use a verified Binance account (completed KYC).

• Have traded at least 20 different counterparties.

These stats help Binance evaluate your credibility and trading behavior.

2. Prepare Your Application Details
Binance may request the following during your application:

• ID verification (already completed during KYC).

• A summary of your trading experience.

• Your intended trading volume and supported payment methods.

• A security deposit (not always required, but some regions require collateral).

3. Submit the Application Form
Go to the Binance P2P page (via the app or web), scroll to the bottom, and click on “Apply to be a Merchant.”
Alternatively, use this link when logged in:
https://p2p.binance.com/en/merchantApplication

Fill in all required details including:

• Your Binance user ID

• Country and local currency

• Preferred trading pairs (e.g., USDT/NGN)

• Daily trading limit expectations

• Payment methods (e.g., bank transfer, fintech apps)

4. Wait for Review and Approval
After submission, Binance’s P2P team will review your profile. The review process can take a few days to a week. During this time, they may reach out via email for clarification or further verification.

5. Start Trading as a Merchant
Once approved, you’ll receive a Merchant Badge, which increases your visibility and trustworthiness in the marketplace. You’ll be able to post ads freely and trade with larger amounts.

Tips for Success as a Merchant:

• Always respond quickly to orders.

• Maintain a good reputation with high order completion.

• Avoid cancellations and disputes.

Conclusion:
Becoming a Binance P2P Merchant is a great way to earn profits through arbitrage or high-volume trades. It offers increased credibility and benefits, but demands responsibility. Once approved, ensure you stay compliant with Binance’s policies to avoid suspension or removal from the program.

How to change Binance to USD?

Changing Binance to USD typically refers to setting your display currency to USD or converting your crypto assets into USD-backed assets like USDT (Tether) or directly into fiat USD if supported in your region. Binance allows users to manage both their visual currency settings and actual asset conversion, but the exact method depends on your goal—whether for display or withdrawal.

Here’s how to change your Binance to USD based on different needs:

1. Change Display Currency to USD

If you simply want your Binance app or website to show balances and prices in US dollars instead of naira or another currency:

• Open the Binance app.

• Tap on your profile icon in the top-left corner.

• Go to “Settings.”

• Tap “Currency” or “Display Currency.”

• Select USD from the list.

This action only changes the display format for your wallet and market prices—it doesn’t convert your actual holdings.

2. Convert Crypto to USDT (Dollar-Backed Stablecoin)

If you want to turn your crypto assets (like BTC, ETH, BNB) into a USD-pegged value, you can convert them into USDT (Tether), USDC, or BUSD:

• Go to the Trade section.

• Tap “Convert” for a simple interface.

• Select the coin you want to convert (e.g., BTC) and choose USDT as the target.

• Confirm the conversion.

USDT maintains a 1:1 peg with the US dollar, so it’s a reliable way to preserve value in USD terms.

3. Withdraw USD (if available)

If you’re in a region that supports USD fiat withdrawals, you can:

• Sell USDT or other crypto to USD using Binance P2P.

• Choose a buyer who wants to pay you in USD through bank transfer or payment apps.

• Complete the transaction and withdraw to your USD account.

Alternatively, Binance might allow bank card or SWIFT transfers directly in USD if your country is eligible.

4. Use Binance P2P to Sell for USD

You can also post an ad on Binance P2P, set the currency as USD, and trade with buyers who can pay you in US dollars. This is ideal if you operate internationally or have access to dollar accounts.

Conclusion:

Changing Binance to USD can mean a change in display currency, converting assets into dollar-backed coins, or withdrawing actual USD through P2P or bank methods. For Nigerians, converting to USDT via P2P remains the best option to preserve USD value without needing a foreign bank account. Always double-check transaction details and only trade with verified users to stay safe.