Ukraine temporarily suspended the use of its national currency, the hryvnia, via banking cards for fiat deposits and withdrawals on crypto exchanges. While the move immediately impacted how investors move funds to and fro exchanges, Binance reminded users about how P2P services come in handy when trading cryptocurrencies.
Binance acknowledged the problem as regulators suspended the use of hryvnia on crypto exchanges. However, Binance had an alternative solution as it recommended (rough translation):
“We suggest using the P2P service so that you can continue to use Binance comfortably.”
The crypto exchange utilized the occasion to inform users that peer-to-peer services allow users to exchange crypto and fiat currencies directly with other users without the need for a middleperson like banks.
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