The launch of Binance Nigeria Naira Gateway on Binance.com had received positive feedbacks from users spelling doom for Nigeria users on Luno.
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Binance Centralized Cryptocurrency Exchange launched its gateway for deposits and withdrawal of Nigerian Naira on 24th of October, 2019. Following a free deposit fee for users with 36,000 Naira deposits an equivalent of $100 at press time.
Users on the exchange platform are giving a positive feedback most especially on Naira withdrawals and fee charge. One of the users by name Southboy Dini has comments saying,
“Withdrawal fee is N150 bro and I’m very ok with it, I’m even ready to pay N500 because its instant like 3 secs, are we not paying 0.001BTC on some exchange? lets spell doom for LUNO!”
Withdrawals on the exchange seems instant to user fiat account and with as little as N150 naira per withdrawals according to users feedback. Some users withdrawing with Zenith Bank seems to be facing some issues getting their withdrawals.
LUNO will probably end up competing with reducing withdrawal fees and processing withdrawals all day as some users complain of late withdraws. Some others also complain of LUNO not processing Naira transactions on holidays and weekends.
“No innovation, withdrawal takes up to 4hrs, no withdrawal on weekend and public holidays🤦🏾♂🤦🏾♂
Are we playing here?”