Bybit vs Binance in Nigeria (2026): fees, naira access and P2P

If you are in Nigeria and need to move naira in and out, the choice between Bybit and Binance is decided by naira access, not by trading fees. Both list a 0.1% spot fee, but Binance closed all its naira services in March 2024, while Bybit’s P2P market showed adverts selling USDT for about 1,359 to 1,363.60 naira on 11 Oct 2026.

Spot fees are the same unless you pay in BNB

Bybit’s trading fee structure, last updated on 2 Sep 2026, lists non-VIP rates. Binance’s spot fee schedule lists its regular tier, which applies to accounts under 1,000,000 USD of 30-day volume.

Fee	Bybit (non-VIP)	Binance (regular)
Spot maker	0.1000%	0.100%
Spot taker	0.1000%	0.100%
Spot with BNB fee discount	Not applicable	0.075% (25% off)
Perpetual and futures maker	0.0200%	Not captured
Perpetual and futures taker	0.0550%	Not captured

On a 100 USDT spot trade, both charge 0.10 USDT at the headline rate. Binance’s BNB discount brings that to 0.075 USDT, a saving of 0.025 USDT per 100 USDT traded. To run your own trade size, use our crypto fee calculator.

Binance has had no naira services since March 2024

Binance announced on 5 Mar 2024 that it was discontinuing all Nigerian naira services. The shutdown ran in four steps:

Date	What ended
28 Feb 2024	NGN P2P pairs delisted
5 Mar 2024	NGN deposits stopped
7 Mar 2024	Spot NGN pairs delisted
8 Mar 2024	NGN withdrawals ended

Naira balances still on Binance after 8 Mar 2024 were converted to USDT at 1 USDT = 1,515.13 NGN.

Our own check matches this. On 11 Oct 2026 we opened Binance P2P’s USDT market with NGN selected, and it returned another currency’s market instead. Naira was not offered.

In practice, Binance itself offers no way to fund an account with naira or cash out to naira.

What Bybit’s naira P2P market showed on 11 Oct 2026

These figures are a snapshot from 11 Oct 2026, not live prices.

Direction	Naira per USDT	Payment methods shown
You buy USDT (buy page)	About 1,359 to 1,363.60	Bank transfer, OPay and Kuda among them
You sell USDT (sell page), most adverts	About 1,358.30	Bank transfer, OPay, PalmPay, Kuda
You sell USDT, one featured advert	1,337.40	As above

Three things follow from that snapshot:

• The gap between buying and selling was small on most adverts. Buying 100 USDT at 1,359 cost 135,900 naira, and selling 100 USDT at 1,358.30 returned 135,830 naira. That is a spread of 70 naira on the round trip.
• The featured advert was not the best price. At 1,337.40 it paid 20.90 naira less per USDT than the 1,358.30 adverts, or 2,090 naira less on 100 USDT.
• Bybit does not add a fee on top for takers. Its P2P page shows “0 Transaction Fees” for takers, so the advert price is the cost.

Bybit’s P2P page also warns users never to chat outside the platform and not to use third-party or split payments.

Moving USDT out of Binance to reach a naira market

If your funds are already on Binance, the only way to naira is to withdraw the crypto to a venue that has a naira market. Binance’s crypto fee page says it does not charge crypto deposit fees. Each withdrawal carries a flat fee set by the blockchain network, and that fee can change without notice. These were the USDT figures displayed on 11 Oct 2026:

Network	Withdrawal fee	Minimum withdrawal
BNB Smart Chain (BEP20)	0.01 USDT	3 USDT
opBNB	0.015 USDT	Not captured
Optimism	0.04 USDT	3 USDT
Avalanche C-Chain	0.04 USDT	5 USDT
Polygon	0.07 USDT	5 USDT
Aptos	0.1 USDT	3 USDT
Solana	0.3 USDT	5 USDT
TON	0.3 USDT	3 USDT
Arbitrum One	0.4 USDT	3 USDT
Ethereum (ERC20)	0.5 USDT	5 USDT
Tron (TRC20)	1.5 USDT	5 USDT

The route looks like this:

1. Pick a withdrawal network that the receiving venue also supports for USDT deposits. A transfer sent on a network the receiver does not support can be lost.
2. Make sure the amount clears the network minimum, which is 3 or 5 USDT.
3. Withdraw from Binance and pay the flat network fee. The cheapest listed was BEP20 at 0.01 USDT, and Tron (TRC20) cost 150 times that at 1.5 USDT.
4. Sell the USDT on a naira P2P market. On 11 Oct 2026, most adverts on Bybit’s paid about 1,358.30 naira per USDT.

Bybit downsides that matter here

• The naira market we saw was P2P. You trade with another user at the advert’s price, not at a rate set by Bybit. Bybit also lists card, USDT and crypto transfer as funding methods, and there is no minimum deposit to open an account.
• We could not confirm a Nigerian licence. Bybit says it is regulated by VARA in Dubai and registered in multiple markets.
• Its futures are high-risk. The 0.0200% maker and 0.0550% taker fees look small, but derivatives leverage is high-risk and crypto volatility can wipe out a position quickly.
• It is not available everywhere. Bybit is closed to the US, Canada and a number of other regions.

Which one fits a Nigerian trader

• You need naira in or out: Bybit. It was the only one of the two that showed a naira market on 11 Oct 2026.
• You already hold crypto and only trade crypto pairs: the two cost the same at 0.1%, and Binance is cheaper at 0.075% if you pay fees in BNB. You still need another venue for naira.
• You use both: the cost of linking them from the Binance side started at 0.01 USDT per USDT withdrawal on BEP20.

What we could not confirm

• Whether Bybit or Binance is licensed or registered with any Nigerian regulator.
• Bybit’s crypto withdrawal fees and minimums, so we cannot price a transfer from Bybit to Binance.
• How disputes are handled on Bybit’s P2P market if a naira payment goes wrong.

This guide is for education only and is not financial advice. Trading crypto carries a risk of loss.