Binance Aggressively Pushing for Platform Adoption in Nigeria

Only days after Binance launched its Nigeria Fiat-Crypto Gateway to enable Nigerians purchase bitcoin using the Naira, the exchange has now launched a campaign to onboard more users onto its platform.

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


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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.

It is likely that the survey will inform the exchange and help better serve customers when they launch in the new markets.



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