In a blog post, Binance says it has launched a one-month special referral program for Nigerians where each referral earns 700 NGN.
Below are the benefits for customers who want to participate in the referral program:
Earn 700 NGN per referral in BNB
Enjoy up to 40% commission off trading fees every time the referral trades
Enjoy up to 430, 000 NGN transaction limit on the platform
The above campaign has further prompted Binance to run a survey after it was noticed there was a lack of adoption and use for the new service, likely due to the 1.4% deposit charge capped at 2,000 NGN. As a result, the survey is intended to help Binance see how they can improve on the new offering.
Some of the questions on the survey include:
How long have you been in the crypto space?
Have you ever traded using Telegram, WhatsApp etc escrow?
We charge 1.4% per deposit capped at 2,000 NGN. Is this convenient for you?
Are you satisfied with the overall KYC experience?
What part of Binance do you like the most?
What part requires improvement?
From the survey questions, it is clear that Binance wants to capture the Nigerian market, but it needs to understand why there is a slow uptake for its service offering.
Binance has also expressed interest in adding more crypto-fiat gateway offerings for other African markets including the Kenyan (BTC/KES) and South African (BTC/ZAR) markets.