Binance announced that it has added the ETH/NGN pair alongside a slew of other pairs on Thursday morning.
Ethereum, the second-largest cryptocurrency by market cap, has gained a lot of popularity over the years. In 2020, ethereum (ETH) has seen positive price action, which has alluded to the project since 2018.
The increase in price has made it more popular, especially among traders. Binance users in Nigeria have highly requested the ETH/NGN pair in the past.
The ETH/NGN pair presents another option for Nigerians to buy or sell ethereum with the naira. Before this, Nigerians looking to trade ethereum (ETH) on Binance had to use Binance P2P.
To trade with the naira on Binance, Nigerians can deposit money via bank transfer or credit/debit card. Binance is the only top 10 exchange by volume that supports direct deposits of the naira.
ETH/NGN, DOT/BIDR, LINK/AUD, and SXP/AUD trading pairs will go live on Binance at 8:00 AM (UTC) on Thursday.
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