In March 2020, Binance started supporting the Nigerian naira. Currently, African users can use Binance P2P to buy and sell BTC, USDT, DAI, BNB, ETH, and BUSD using the Kenyan shilling, the South African rand, the Nigerian naira, the Moroccan dirham, the Ghanaian cedi, and the Egyptian pound.
According to Binance, P2P traders on the platform are making an income between $30 and $350 each day.
“I solely rely on P2P trading as the main source of my income. With P2P trading, I can sufficiently meet my needs and bills. The best thing is that I can trade at my own time and any place,” said Robacoin, a P2P merchant.
Africans are using cryptocurrency to fight poverty and inflation in their countries and many leverage on P2P trading.
P2P trading on the continent could continue the upward trend as more and more Africans turn to crypto to make an income and to remit money.