To convert your SOL to Naira on Binance, here are the detailed steps: First, ensure your SOL is in your Binance Spot Wallet.

Navigate to the “Trade” section on the Binance website or app, then select “Convert” or “Spot Trading” if you prefer more control.

If converting directly, select SOL as the asset you want to convert from and NGN Naira as the asset you want to convert to.

Enter the amount of SOL, review the conversion rate, and confirm.

For Spot Trading, you’ll sell your SOL for USDT first SOL/USDT pair, and then sell the USDT for NGN USDT/NGN pair using the P2P Peer-to-Peer market, which is often the most direct way to get Naira from stablecoins.

Remember, the P2P market allows direct transactions with other users, facilitating a swift transfer of funds to your local bank account.

Always verify the buyer/seller’s reputation and payment methods.

Table of Contents

Understanding the Binance Ecosystem for Nigerian Users

Navigating the world of cryptocurrency can feel like learning a new language, especially when you’re looking to convert digital assets like Solana SOL into your local fiat currency, the Nigerian Naira NGN. Binance, being one of the largest cryptocurrency exchanges globally, offers several avenues for this, each with its own nuances.

It’s crucial for users, particularly in regions like Nigeria, to understand these mechanisms thoroughly to ensure smooth and secure transactions.

While the appeal of quick financial gains through trading might be tempting, we encourage a focus on understanding the underlying technology and using these platforms for legitimate, halal financial activities rather than speculative endeavors that could lead to interest-based dealings or gambling.

The Role of Stablecoins in Crypto-to-Fiat Conversion

Stablecoins are foundational to converting volatile cryptocurrencies like SOL into fiat currency.

They act as a bridge, designed to maintain a stable value, typically pegged to a fiat currency like the US Dollar e.g., USDT, BUSD, USDC.

Minimizing Volatility: When you sell SOL, you often convert it to a stablecoin first. This shields your funds from the immediate price fluctuations common in the crypto market, giving you time to decide your next move without fear of significant value loss.
Liquidity and Trading Pairs: Stablecoins offer deep liquidity and are paired with a vast number of cryptocurrencies on exchanges. This means you can easily sell your SOL for USDT, and then equally easily sell that USDT for NGN. Binance’s P2P market thrives on stablecoins as the primary medium for fiat conversions.
Popular Stablecoins on Binance:
- USDT Tether: The most widely used stablecoin on Binance, crucial for many trading pairs and P2P transactions.
- USDC USD Coin: Another reputable stablecoin, often used similarly to USDT.
- BUSD Binance USD: While Binance has phased out active support for BUSD, it was a significant stablecoin on the platform for a period. Always check current stablecoin offerings.

Key Binance Features for Nigerian Users

Binance offers a suite of features that are particularly relevant and beneficial for users in Nigeria looking to manage their crypto assets.

Spot Trading: This is where you directly buy or sell cryptocurrencies at the current market price. For converting SOL to NGN, you would typically use a SOL/USDT spot pair. This direct exchange allows for efficient execution at prevailing market rates.
Binance P2P Peer-to-Peer: This is arguably the most critical feature for Nigerian users for fiat conversions. It enables direct transactions between users, where you can buy or sell crypto primarily stablecoins for NGN directly with other individuals, with Binance acting as an escrow service.
- Direct Bank Transfers: P2P allows for direct bank transfers to local Nigerian bank accounts, bypassing traditional crypto off-ramps that might have higher fees or more regulatory hurdles.
- User Control: You set your price or choose from listed offers, giving you more control over the exchange rate compared to direct conversions.
- Enhanced Security: Binance’s escrow service holds the crypto until the payment is confirmed, significantly reducing the risk of fraud.
Convert Function: For simpler, smaller transactions, the “Convert” feature allows you to quickly swap one cryptocurrency for another without the complexities of the trading interface. While it might offer direct SOL to NGN conversion in some instances, it often involves a stablecoin intermediary behind the scenes and may have slightly less favorable rates than spot trading.

Step-by-Step Guide: Converting SOL to NGN on Binance

Converting your SOL to NGN on Binance involves a few critical steps, primarily leveraging the Binance P2P market for the final fiat conversion.

This process ensures compliance with local regulations and provides a secure pathway for users to cash out their crypto assets. How to convert SOL to money

Method 1: Using Binance P2P Recommended for Fiat Conversion

This method involves converting SOL to a stablecoin like USDT and then selling that stablecoin for NGN on the P2P market.

This is generally the most effective and commonly used method for Nigerian users.

Step 1: Convert SOL to USDT or another stablecoin

Before you can convert your SOL to Naira, you’ll need to swap it for a stablecoin like USDT. This is done in the spot trading interface.

Navigate to Spot Trading: On the Binance platform, go to “Trade” and select “Spot.”
Select SOL/USDT Pair: In the trading interface, search for the SOL/USDT trading pair.
Place a Sell Order:
- Market Order: If you want to sell your SOL immediately at the current market price, select “Market” order. Enter the amount of SOL you wish to sell and click “Sell SOL.” This is the quickest way to execute.
- Limit Order: If you want to sell at a specific future price, select “Limit” order. Enter your desired selling price and the amount of SOL. Your order will only execute if the market price reaches your specified price.
Confirm Conversion: Once the order is executed, your SOL will be converted into USDT and will appear in your Spot Wallet.

Step 2: Transfer USDT from Spot Wallet to Funding Wallet

For P2P transactions, the crypto asset needs to be in your Funding Wallet previously known as the P2P wallet.

Go to Wallets: On the Binance dashboard, hover over “Wallet” and select “Fiat and Spot.”
Find USDT and Transfer: Locate USDT in your list of assets. Click on “Transfer.”
Select Funding Wallet: In the transfer pop-up, select “Spot Wallet” as the “From” source and “Funding Wallet” as the “To” destination. Enter the amount of USDT you wish to transfer and confirm. The transfer is usually instant and free.

Step 3: Sell USDT for NGN on Binance P2P

This is the final step where you convert your USDT into Naira and receive the funds in your local bank account.

Access P2P Trading: On the Binance homepage, click on “Trade” and then select “P2P.”
Select “Sell” and “USDT”: On the P2P interface, ensure you are on the “Sell” tab and “USDT” is selected. Also, ensure “NGN” is selected as the fiat currency.
Choose a Buyer: You will see a list of buyers with different prices and payment methods.
- Filter Options: Use filters to narrow down buyers by payment method e.g., Bank Transfer and amount.
- Check Reputation: Always look for buyers with a high completion rate e.g., 95%+ and a good number of trades. This indicates reliability.
- Review Terms: Click on an offer to read the buyer’s terms and conditions. Some buyers may have specific requirements.
Enter Amount and Sell: Once you’ve chosen a suitable buyer, enter the amount of USDT you want to sell. The equivalent NGN amount will be displayed. Click “Sell USDT.”
Await Payment: Binance will hold your USDT in escrow. The buyer will initiate payment to your specified bank account. You will receive a notification when the buyer marks the payment as sent.
Verify Payment: Crucially, do not release your crypto until you have confirmed receipt of the funds in your bank account. Check your bank app or online banking portal. Simply seeing a screenshot or a notification from the buyer is not sufficient.
Release Crypto: Once you have verified the payment in your bank account, go back to the Binance P2P order page and click “Release Crypto.” This action releases the USDT from escrow to the buyer.
Confirmation: The transaction is now complete.

Method 2: Using the Convert Function If SOL/NGN direct pair exists, less common for fiat

While less common for direct fiat conversions, Binance’s ‘Convert’ function can sometimes directly convert certain cryptos to fiat if a direct pair exists.

This is generally more for converting between different cryptocurrencies or stablecoins.

Navigate to Convert: On Binance, go to “Trade” and select “Convert.”
Select Assets: Choose SOL as the “From” currency and NGN as the “To” currency.
Enter Amount: Input the amount of SOL you wish to convert.
Preview Conversion: Click “Preview Conversion.” Binance will show you the exact amount of NGN you will receive and the exchange rate. Be aware that the rate might include a small spread.
Confirm: If you are satisfied with the rate, confirm the conversion. The NGN equivalent will likely be held in your Fiat Wallet on Binance, from where you would still need to withdraw it to your bank account. This method often has higher fees or less favorable rates compared to the P2P market for fiat off-ramps.

Navigating Potential Challenges and Best Practices

While converting SOL to NGN on Binance is generally straightforward, users might encounter challenges related to market volatility, liquidity, or specific platform policies.

Understanding these potential roadblocks and adopting best practices can significantly enhance your experience and security. How to convert SOL to sgd

Market Volatility and Its Impact

The cryptocurrency market is renowned for its volatility, meaning prices can fluctuate significantly in short periods.

This inherent characteristic poses a challenge when converting assets.

Price Slippage: During periods of high volatility, the price at which you initiate a conversion especially for larger amounts might differ from the actual execution price. This is known as slippage. If you’re selling SOL for USDT, a sudden drop in SOL’s price before your order executes can mean you receive less USDT than anticipated.
Timing Your Conversion:
- Avoid Emotional Decisions: Don’t rush into selling based on fear of further price drops. Instead, have a clear strategy.
- Use Limit Orders: If you’re not in a hurry, use limit orders when converting SOL to USDT. This allows you to set a desired selling price, ensuring you only sell when your conditions are met. However, your order might not execute if the price doesn’t reach your limit.
- Monitor Market Trends: Stay informed about SOL’s price movements and broader market sentiment. Tools like moving averages or volume indicators can offer insights. Data from CoinMarketCap e.g., Solana’s average daily trading volume often exceeds $500 million highlights its liquidity, but individual trade timing remains key.

Liquidity Considerations

Liquidity refers to how easily an asset can be bought or sold without significantly affecting its price.

For SOL to NGN conversion, liquidity is crucial at multiple stages.

SOL/USDT Pair Liquidity: Solana SOL is a major cryptocurrency, so its trading pairs like SOL/USDT typically have high liquidity on Binance. This means large sell orders can usually be executed quickly without significant price impact.
USDT/NGN P2P Market Liquidity: The P2P market’s liquidity depends on the number of active buyers and sellers and the depth of their offers. Nigeria’s P2P market is generally very active, with daily volumes often in the tens of millions of dollars equivalent, especially for USDT.
- Large Transactions: For very large amounts of USDT, you might need to split your sale across multiple buyers to get the best rates or avoid attracting unwanted attention.
- Off-Peak Hours: During off-peak hours e.g., late night in Nigeria, the number of active buyers and competitive offers might decrease, potentially affecting the speed and rate of your conversion. Plan your transactions during peak market hours for better liquidity.

Security Measures and Fraud Prevention

Given the nature of P2P transactions and the value involved, robust security practices are paramount.

Enable Two-Factor Authentication 2FA: Always enable 2FA e.g., Google Authenticator, SMS verification on your Binance account. This adds an extra layer of security, making it much harder for unauthorized access. Over 90% of all Binance users enable 2FA for good reason.
Verify Payment Thoroughly: This is the most critical step in P2P transactions.
- Check Your Bank Account: Do not rely on screenshots, SMS alerts, or notifications from the buyer. Log into your actual bank application or online banking portal to confirm the funds have arrived and settled in your account.
- Beware of Fake Payment Proof: Scammers might send fake screenshots or altered SMS messages. Always verify directly with your bank.
- Match Account Names: Ensure the name on the sending bank account matches the buyer’s verified name on Binance if applicable.
Communicate Through Binance Chat: Only communicate with the buyer through the official Binance P2P chat. This keeps a record of all conversations, which Binance can use if a dispute arises. Avoid communicating via WhatsApp or other external platforms.
Be Wary of External Links/Offers: Never click on suspicious links sent by buyers or accept offers to trade outside the Binance platform. These are almost always scams.
Report Suspicious Activity: If a buyer is pressuring you, asking for personal information, or trying to circumvent the process, immediately report them to Binance support and cancel the trade if necessary.

Understanding Binance Fees

While Binance P2P generally has zero maker/taker fees for fiat transactions, there are other fees to be aware of.

Spot Trading Fees: When you convert SOL to USDT on the spot market, Binance charges a trading fee, typically 0.1% or lower, which can be reduced further if you hold BNB or have VIP levels.
Withdrawal Fees: When you eventually withdraw NGN from your Binance Fiat Wallet to your bank account if you used the direct conversion method, there might be a small withdrawal fee depending on the method and bank.
P2P is Often Fee-Free for Fiat: A key advantage of Binance P2P is that Binance typically charges zero fees for P2P transactions. The price you see is generally what you get, minus any bank charges your local bank might levy for receiving transfers which are usually minimal or non-existent for local transfers in Nigeria.

Regulatory Landscape and Financial Responsibility in Nigeria

While individual peer-to-peer transactions generally fall outside the direct control of central bank directives, it’s crucial for users to remain aware of the broader regulatory environment and to practice sound financial discipline.

As Muslims, our approach to wealth must align with Islamic principles, emphasizing ethical dealings, transparency, and avoiding speculative practices that border on gambling or interest riba.

Understanding Nigeria’s Crypto Stance

The Central Bank of Nigeria CBN has historically issued directives aimed at regulating cryptocurrency activities within the formal financial system.

CBN’s Directives: In February 2021, the CBN issued a circular prohibiting regulated financial institutions from facilitating cryptocurrency transactions. This means Nigerian banks cannot directly process payments for crypto exchanges. This directive significantly impacted how crypto exchanges operate in Nigeria, leading to the increased adoption and reliance on P2P trading.
Impact on Users: For individual users, this means direct deposits and withdrawals of NGN to/from centralized exchanges like Binance are often restricted or unavailable. This is precisely why the Binance P2P market became the primary and most robust solution for converting crypto to Naira. P2P transactions occur directly between individuals, with banks only seeing regular interbank transfers, thus circumventing the direct prohibition on financial institutions dealing with crypto entities.
Regulatory Evolution: The regulatory environment is subject to change. While the current stance makes P2P essential, users should stay updated on official pronouncements from Nigerian financial authorities. Websites like the CBN’s official portal www.cbn.gov.ng are the best sources for current regulations.

Importance of Halal Financial Practices

As a Muslim professional, it’s imperative to highlight the ethical and religious considerations in financial dealings, including cryptocurrency.

How to convert eth to TRX on robinhood

While the technology itself is neutral, its application can fall into permissible halal or impermissible haram categories.

Avoiding Riba Interest: A core principle in Islamic finance is the prohibition of Riba interest. This means avoiding interest-based loans, credit cards that charge interest, and any financial product where money generates money without legitimate trade or effort. When trading cryptocurrencies, ensure you are not engaging in margin trading that involves interest payments, or using lending/borrowing features that are interest-based.
Gharar Excessive Uncertainty/Speculation: Islam discourages transactions with excessive uncertainty or speculation, especially those that resemble gambling. While trading cryptocurrencies involves risk, engaging in highly volatile, short-term speculative trading with the sole aim of quick, massive gains without any underlying value consideration can border on Gharar. It is better to focus on understanding the utility and technology of projects like Solana for long-term, value-driven investment rather than mere gambling on price swings.
Honest and Transparent Dealings: All financial transactions must be conducted with honesty and transparency. In P2P trading, this means fulfilling your side of the bargain promptly and accurately, and never engaging in deceit or fraud.
Zakat on Crypto Assets: If your crypto holdings meet the Nisab minimum threshold and have been held for a lunar year, Zakat becomes obligatory. The calculation typically involves valuing your crypto assets in their fiat equivalent like NGN or USD and paying 2.5% of that value. Reputable Islamic finance scholars and organizations provide guidance on Zakat calculations for digital assets.
Better Alternatives to Speculative Trading: Instead of purely speculative trading, consider:
- Long-Term Investment: Researching and investing in blockchain projects with strong fundamentals, real-world utility, and long-term growth potential.
- Halal DeFi Decentralized Finance: Exploring Sharia-compliant DeFi projects that focus on ethical financing, profit-sharing, and asset-backed transactions, though these are still nascent.
- Productive Use of Capital: Using your wealth to invest in halal businesses, create jobs, or engage in charitable endeavors Sadaqah and Waqf.

Maintaining Financial Records

Good financial hygiene is essential, especially when dealing with crypto conversions.

Transaction Records: Keep detailed records of all your SOL purchases, sales SOL to USDT, USDT to NGN, and any associated fees. This includes dates, amounts, and prices.
Bank Statements: Reconcile your bank statements with your P2P transactions to ensure all funds received match your records.
Security of Records: Store your financial records securely, whether digitally encrypted or physically.

Advanced Strategies and Tips for Binance Users

Once you’ve mastered the basic conversion of SOL to NGN, you might want to explore advanced strategies to optimize your transactions, enhance security, and better manage your crypto portfolio.

These tips go beyond the fundamental steps and can provide a smoother, more efficient experience on Binance.

Leveraging Different Order Types on Spot Market

While market orders are quick, understanding other order types can give you more control over your SOL to USDT conversion.

Limit Orders: As discussed, setting a specific price for your sell order. This is ideal if you believe SOL’s price will rise to a certain point before you want to sell, or if you want to avoid selling below a certain threshold. For example, if SOL is at $150 and you want to sell when it hits $155, a limit order ensures you don’t miss that target.
Stop-Limit Orders: A more advanced order type combining a stop price and a limit price.
- How it works: You set a “stop price” trigger and a “limit price.” When the market price reaches your stop price, your limit order is automatically placed.
- Example: If SOL is currently $150, you might set a stop price at $145 and a limit price at $144. If SOL drops to $145, a sell limit order for $144 is placed. This protects you from further downside while still trying to get the best possible price.
- Benefit: Useful for risk management, allowing you to automatically sell your SOL if the price falls significantly to limit potential losses, or to lock in profits.
Trailing Stop Orders: An even more dynamic order type that adjusts the stop price as the market price moves favorably.
- How it works: You set a “trailing delta” a percentage or absolute amount below the market price. The stop price follows the asset’s price as it rises, but locks in if the price falls by the delta.
- Benefit: Excellent for selling an asset while its price is rising, capturing as much of the upward movement as possible, but automatically selling if it reverses sharply. This is often used by active traders, but can be a tool for strategic selling.

Optimizing P2P Transactions

The P2P market is highly dynamic.

Strategic approaches can lead to better rates and faster transactions.

Become a P2P Merchant: If you frequently buy/sell large volumes, consider applying to become a verified Binance P2P merchant. Merchants typically get more exposure, potentially better rates, and dedicated support. However, this comes with stricter requirements and responsibilities.
Creating Your Own Sell Advert: Instead of choosing from existing buyers, you can create your own sell advertisement on the P2P market.
- Control Your Price: You set your desired selling price for USDT/NGN, allowing you to potentially get a better rate than the immediate market offers.
- Define Terms: You can specify your preferred payment methods, transaction limits, and any other terms.
- Patient Approach: This requires patience as you wait for buyers to accept your offer, but can be rewarding for larger amounts or specific price targets. Statistics show that “maker” orders on P2P those who create ads often achieve slightly better rates than “taker” orders those who respond to ads.
Diversify Payment Methods If Applicable: While bank transfer is dominant in Nigeria, if other reliable and secure NGN payment methods emerge on P2P, consider having multiple options to broaden your pool of potential buyers.

Staying Updated on Binance Features and Announcements

Binance regularly updates its platform, introduces new features, and makes important announcements that can impact your trading experience. How to convert TRX to usdt on bybit free

Follow Binance Official Channels: Subscribe to Binance’s official blog, Twitter X, Telegram, or other social media channels. Important updates regarding Nigerian operations, new trading pairs, security enhancements, or regulatory changes are often announced there.
Check Binance Announcements Page: The “Announcements” section on the Binance website is a central hub for all official news and updates. Make it a habit to check it periodically.
Understand New Products: Binance offers a wide array of products e.g., Earn, Staking, Launchpad. While the focus here is conversion, understanding other features might open up new opportunities for managing your crypto, provided they align with halal principles e.g., non-interest-bearing staking for certain tokens.

Maintaining Account Security

Beyond 2FA, several other practices contribute to a robust security posture.

Strong, Unique Passwords: Use complex passwords that are unique to your Binance account and change them regularly. A combination of uppercase, lowercase, numbers, and symbols is ideal.
Beware of Phishing: Always verify the URL before entering your Binance credentials. Phishing websites mimic legitimate sites to steal your login information. Official Binance URLs typically start with www.binance.com.
Use a Dedicated Device Optional: For very large amounts of crypto, some users opt to use a dedicated device e.g., a laptop or phone solely for crypto transactions, minimizing exposure to other potentially malicious software.
Regular Security Checks: Periodically review your Binance account’s security settings, login history, and API management if you use APIs for any unusual activity. Binance’s security dashboard provides a good overview.

By incorporating these advanced strategies and best practices, Nigerian users can navigate the process of converting SOL to NGN on Binance with greater confidence, efficiency, and security, all while remaining mindful of ethical financial principles.

Frequently Asked Questions

How do I convert SOL to NGN directly on Binance?

No, you cannot directly convert SOL to NGN in a single step on Binance like a direct fiat pair.

You first need to convert your SOL to a stablecoin like USDT through spot trading, and then sell that USDT for NGN on the Binance P2P Peer-to-Peer market.

What is the safest way to convert SOL to Naira on Binance?

The safest way is to use the Binance P2P Peer-to-Peer platform after converting your SOL to USDT.

Binance acts as an escrow service, holding your crypto until you confirm receipt of Naira in your bank account, minimizing fraud risk.

Always verify bank payment directly in your bank app before releasing crypto.

Are there any fees for converting SOL to USDT on Binance?

Yes, there are standard spot trading fees when you convert SOL to USDT.

These fees typically range from 0.1% or lower, depending on your VIP level and whether you pay fees with BNB. How to convert TRX to usdt on exodus

Are there any fees for selling USDT for NGN on Binance P2P?

No, Binance typically charges zero fees for transactions on its P2P market.

The price you see is generally the price you get, although your bank might charge a small fee for receiving the local bank transfer.

How long does it take to convert SOL to NGN on Binance P2P?

Converting SOL to USDT is instant spot trading. Selling USDT for NGN on P2P can take anywhere from a few minutes to an hour, depending on the buyer’s payment speed and bank processing times. Most transactions complete within 15-30 minutes.

Do I need to verify my identity KYC to convert SOL to NGN on Binance?

Yes, you need to complete Binance’s Know Your Customer KYC verification process Identity Verification to use most features, including P2P trading and fiat withdrawals.

This involves providing personal documents and face verification.

Can I withdraw NGN directly from Binance to my Nigerian bank account?

Direct fiat deposits and withdrawals from Binance to Nigerian bank accounts are generally restricted due to CBN regulations.

The Binance P2P market is the primary and most effective method for converting crypto to Naira and receiving it in your bank account.

What if the buyer doesn’t pay me on Binance P2P?

If the buyer marks the order as paid but you haven’t received the NGN in your bank account, do NOT release your crypto.

Instead, click the “Appeal” button on the order page.

Binance support will then step in to mediate the dispute, requiring proof from both parties. How to convert TRX to usd on kraken

What stablecoin is best to convert SOL to for NGN conversion?

USDT Tether is the most liquid and widely used stablecoin for NGN conversions on Binance P2P.

It typically has the most available buyers and best rates.

Can I use the “Convert” function on Binance to get NGN directly from SOL?

While Binance has a “Convert” function, it rarely supports direct SOL to NGN conversions. It’s primarily used for crypto-to-crypto swaps.

For NGN, the SOL to USDT to P2P method is more reliable and efficient.

Is it safe to provide my bank account details on Binance P2P?

Yes, it is necessary to provide your bank account details bank name, account number, account name to receive NGN payments from buyers on P2P.

However, only provide these details within the secure Binance P2P interface, never outside it.

What should I do if a buyer asks me to communicate outside Binance P2P chat?

Never communicate with a buyer outside the official Binance P2P chat.

Scammers often try to move conversations to WhatsApp or other platforms to avoid Binance’s oversight.

All communication should remain on the platform for your protection.

How do I check a P2P buyer’s reputation before selling?

On the Binance P2P market, click on a buyer’s offer to see their profile. How to convert eth to TRX on coinbase

Look for a high completion rate e.g., 95% or higher, a good number of completed trades, and positive feedback from other users.

Can I sell only a portion of my SOL holdings for NGN?

Yes, you can sell any amount of your SOL after converting to USDT on the P2P market, as long as it meets the minimum trade limit set by the buyer.

What is the minimum amount of SOL I can convert to NGN?

The minimum amount depends on the minimum trade limits set by P2P buyers.

These typically start from as low as 1,000 NGN or equivalent, which means you’ll need a small amount of USDT, and consequently, a small amount of SOL.

What happens if I accidentally release my crypto before receiving payment?

If you accidentally release your crypto before verifying payment, it becomes very difficult to recover.

Immediately contact Binance support with all transaction details, but be aware that recovery is not guaranteed as the crypto has already left escrow.

This is why strict payment verification is crucial.

Can I use different bank accounts for P2P transactions?

You can add multiple bank accounts to your Binance P2P payment methods.

However, it’s generally best practice to receive funds into an account registered under your verified Binance name to avoid complications.

Is there a daily limit for converting SOL to NGN on Binance?

Binance sets daily transaction limits for P2P trading based on your KYC verification level. How to convert TRX to gbp binance

Higher verification levels typically have higher limits.

For most individual users, the standard limits are usually sufficient.

What is the best time to sell SOL for NGN on P2P?

Often, weekdays during regular business hours in Nigeria e.g., 9 AM to 5 PM WAT tend to have more active buyers and potentially better rates due to higher liquidity and competition among merchants.

How do I report a scammer on Binance P2P?

If you encounter a suspected scammer or an uncooperative buyer/seller, use the “Appeal” function on the order page if a dispute is ongoing.

For general suspicious activity, you can also report users directly through their profile or contact Binance customer support.

How to convert my SOL to naira on binance