Binance has blocked Nigerians from accessing P2P and a lot of traders have moved to Bybit, Kucoin and other P2P exchanges to trade.

But what people did not see is the arbitrage opportunity it has opened up.

This is how you buy USDT at the official rate and how you sell it on the black market rate.

Go to your Binance.

Click on Deposit.

Search for NGN.

You’ll be redirected to where you can deposit NGN via a cash link merchant.

Put the amount of NGN you want to buy and you’ll be given a Merchant’s account number to send the money to.

Do the transfer with your own bank account and the merchant will be credited. Then he’ll release NGN for you.

Step 2

Search for USDT/NGN trading pair on Binance and use the NGN to buy USDT at the current official rate of N1381 (the rate is changing per second though)

Now withdraw that USDT to Bybit and sell it on the Bybit P2P where price is still around N1450.

You get naira plus profit in your bank account.

Now repeat the process over and over again 🚀🚀🚀🚀