Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Abubakar56 on February 11, 2021, 11:26:29 AM
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
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Please give some trusted statement otherwise we are getting confused a lot. Specially any negative news of crypto you need to ensure that topic.becouse this kind of topic very harmful for crypto market .
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
I have a strong feeling that the Nigerian government is trying to test the reaction of Nigerian crypto users on how they react to the ban implementation because if they dont do it for a reason I think they are just moving backward due to lack of innovation. But just in case the banned will be prolonged there will be another option and it was P2P or peer to peer which is offered by no other than Binance itself. Nigerian crypto users can still trade via the P2P option.
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It happens that the authorities do not like the uncontrolled circulation of money that they cannot track and this is dangerous for them. It remains only to look for sites that are not under their control and work there, also use vpn to access through other countries. Perhaps the authorities are afraid that with the help of cryptocurrencies illegal organizations can be financed, I do not know what the situation is in your country now.
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This shouldn't really be too much of a bother, because there is much better information about monobanks that will be accepting Bitcoin soon. Of course, Nigeria's problem is not a barrier to progress.
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From what I have read in some articles the ban is nothing new. Anyway you cannot buy and sell by hand in Nigeria?. You can also use Paxful now that I remember it, it is a service that works very well, you can sell your crypto and receive your money at Bitcoin ATMs, checks and many other ways without the need for a bank account.
There are probably other methods, but I don't know what they can be, but I think using Paxful is the best option since you don't need any bank account to receive your money.
https://www.coindesk.com/nigerian-central-bank-says-its-ban-on-crypto-accounts-is-nothing-new
https://paxful.com/
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Please give some trusted statement otherwise we are getting confused a lot. Specially any negative news of crypto you need to ensure that topic.becouse this kind of topic very harmful for crypto market .
Sorry to interrupt
But what he's saying is actually useful and correct
The CBN bans every transactions involving cryptocurrencies. We just don't understand the problem of the government if it's because they have no access to control our wallet. The topic is nice though
I also know we can make use of binance p2p to buy and sale.
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The government can do it for different reasons, but they can't stop cryptocurrencies and money from entering or leaving Nigeria anyway. As I said in my previous post, there are many ways to send and receive money through cryptocurrencies without the need for bank accounts and the government should be aware of it. So it makes me think that maybe it is to prevent the illegal sale of certain materials or substances or to have greater control over the population.
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Please give some trusted statement otherwise we are getting confused a lot. Specially any negative news of crypto you need to ensure that topic.becouse this kind of topic very harmful for crypto market .
You can read this
https://www.cnn.com/2021/02/11/africa/nigeria-protests-acounts-unblocked-intl/index.html
Every government has a reason why they do it
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
^ you do not provide clear information about this. what the Nigerian government bans, whether it be exchanges or access to private crypto wallets. if yes then just wait for good news from the government there.
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It is very likely that they do it for AML, practically all governments do it today. I have tried to find more details on the Nigerian case, but I cannot find information on whether it is for AML or whether it is a complete ban for other matters, as I said before.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
I have a strong feeling that the Nigerian government is trying to test the reaction of Nigerian crypto users on how they react to the ban implementation because if they dont do it for a reason I think they are just moving backward and lack innovation. But just in case the banned will be prolonged there will be another option and it was P2P or peer to peer which is offered by no other than Binance itself. Nigerian crypto users can still trade via the P2P option.
How about the other side reason that the government is trying to create something strong influence for their own crypto? Is there any possible in to it?
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@Pheonyx of course it is possible. Since yesterday a document is seen on the networks in which it says that Apple could be the king of the crypto exchanges if it entered the business, an Amazon project to launch a digital currency in Mexico was also confirmed, considering all this, it would not be strange if Nigeria wanted to have its own cryptocurrency.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
The ban does not outrightly ban crypto currency activities; the thing it does is that it prevents citizens from doing banking transactions for crypto currency tokens. Which means bank are not allowed to let that happen. The solution is p2p and you can see that on binance, kucoin, okex.
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There has been similar ban on cryptocurrecy with different reasons from different countries, but the Nigeria case is the same reason given by these counties that had ban crypto usage.
Intact, before the invention of crypto, these criminal activities like, money laundering, terrorist sponsorship, illegal fow of cash in and out etc; all these has been before crypto and will remain here despite any form of bans from different countries.
Let watch how this bans will play out in the coming months.
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Again it will remain limited to just an announcement because i have seen similar situation in more countries but the fact is that crypto trading carries on and there is no serious issue or hurdle where govt can forcefully stop to trade and profit from crypto market.
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The CBN crypto ban in Nigeria shouldnt be taken seriously most especially if you are already in the space, according to what i read, their reason for banning crypto is because too many scammers in the country now cash out through bitcoin or other form of crypto in other not to be traced, they forget that even before the emergence of bitcoin and crypto currencies in general, there have been scammers and they have been cashing out successfully without getting caught, now they want to ban crypto cause they think this will solve the problem.
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Can you show the source link, please? AT this time, we know some countries still don't accept or legalize cryptocurrency. They may have their own reasons why. One of them is about the negative issues that are brought, unstable financial systems, and also other security reasons.
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You can get a link to a reliable source. I think the people of Nigeria will still trade on other exchanges and cash out crypto, because it is difficult to track.
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@Andruha1993 with the amount of options that Paxful offers (the link is in my previous post) they will have no problem using cash and crypto. They can send and receive payments in many ways and without the need for bank accounts, so the options are huge.
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I am sometimes surprised by the decision of some countries to ban cryptocurrency, at a time when many corporations around the world are planning to introduce bitcoin and cryptocurrency in payment for services, and in Nigeria it is all prohibited, maybe it is temporary and the decision will be made differently, it takes time.
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Even if Nigeria bans cryptocurrency or Bitcoin, there will be no harm to the cryptocurrency market. Because this cryptocurrency of a huge community can never be suppressed. Cryptocurrency is not dependent on any country. Bitcoin is popular all over the world. It does not depend on the transactions of any country so the popularity of cryptocurrency does not depend on any particular country.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
the best solution you can use a paypal account and change it to usd it is very safe if your country is currently banning cryptocurrency, the Nigerian government issued a very controversial decision to make the people suffer, even more, now it is quite worrying because many Nigerians use cryptocurrency to survive.
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You can get a link to a reliable source. I think the people of Nigeria will still trade on other exchanges and cash out crypto, because it is difficult to track.
I think freemind provided the link about the news. I also know Nigeria prohibited cryptocurrency for a long time because they don't want it in their country. However, crypto is unstable because crypto enthusiasts will make away to access crypto and participate. Someday Nigerian will have a freedom to access crypto freely.
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Yes, and thanks @Jaguar, I provided the link in one of my previous posts. Anyway, I just read a new article published a few minutes ago that shows some news about Nigeria and cryptocurrencies, I leave you the link so you can read it if you want.
Nigeria’s Senate Summons Central Bank Chief to Explain Crypto Ban: https://www.coindesk.com/nigerias-senate-summons-central-bank-chief-to-explain-crypto-ban
They say that they are going to discuss the good and the bad of cryptocurrencies, so maybe all is not lost and Nigerian citizens and businesses can use cryptocurrencies without problems.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
I think the government stopped banks from transacting with any crypto exchange, so Nigerians can not transfer from their bank account to crypto exchanges anymore, also if you are found doing any crypto transaction your bank account will be closed, so right now the way to withdraw crypto or depositing into your wallet is by using binance P2P or local bitcoin etc
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Not only Nigeria, this crypto is still being opposed by several countries. But it looks like bad news like this will greatly affect crypto prices going forward.
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I see no reason to pay such attention to this news. If such a ban were made by China or the United States, then I would have paid attention. And not only me. This country does not affect the cryptocurrency market.
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every government must have a specific reason why it prohibits citizens from banking transactions for cryptocurrency tokens. This means that banks should not allow too many crypto transactions en masala. Many solutions are offered like p2p and you can also see them on Binance or other markets
and not only nigeria which is prohibited but my country also not 100% approve of crypto
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
I have no idea why there has to be a ban or close down on accounts that have traded or gotten involved with crypto currency; but i think the citizens has to brace up and work towards the alternatives the exchange platforms has provided which is p2p
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Cryptocurrency is often used to support illegal transactions such as fraud, drugs, and other illegal activities. I don't think the Nigerian government's actions are wrong here, and now there are solutions to problems like this like P2P in Binance. I hope the Nigerian government can see the positive side of cryptocurrency and unban.
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@Hope4life according to the latest news (on Coindesk they are the fastest to publish) the Nigerian government and the SEC are currently discussing the possibilities (good and bad) of cryptocurrencies in general to try to paralyze the ban. I think they are on time to solve it and not harm companies and citizens who want to use cryptocurrencies.
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whether the news is true, yes that kind of thing must be thought twice to take the next step or action and provide a solution
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With the news about Nigeria blocking Bitcoin, it did make the market slightly change, especially in price. Things like usual happen, so don't panic, everything will be better if this news is no longer popular.
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@flyaccount according to the latest news, Nigeria is not going to ban cryptocurrencies. The last thing they said is that the government was going to meet with banks to talk about the good and bad things about cryptocurrencies. Therefore, that ban remains up in the air for now. Hopefully they realize that cryptocurrencies are the future and do things right for the good of the population.
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For this matter I have never heard of it and it is really very heartbreaking because it is really not good for the cryptocurrency community in Nigeria.
But if there is good faith from the Nigerian state for the cryptocurrency community then the Bank block can be released or reopen cryptocurrency trading with full regulation which is good for a bright future.
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@IyemRoker I hope that both the Nigerian government and banks realize that they are missing a great opportunity if they ban cryptocurrencies in their country. I hope that the news that emerges after those meetings will be positive for the citizens and businesses of Nigeria and they can keep moving forward.
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I can't say its an outright ban, rather its a restriction that is placed on banks and other financial institution on aiding Bitcoin and Cryptocurrency related transactions. Those that will suffer thus wrath the most are the regulated exchanges that offer a Naira deposit and withdrawal gateway such ad Luno and Binance. But in all p2p market is always there to fill your position in either a long or short direction.
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I am pretty sure that Nigeria will unban crypto very soon. There are some countries that ever did the same way before. They all ban crypto because of certain reasons, but it won't last a long time. The governments of the countries unban again crypto, they know the potential and the importance of crypto. So, don't be so worry.
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Easy.
Remember the EndSARS protest of October last year? Good! The government after freezing all bank accounts helping protests, was mad that the organizers of the protest received funding via bitcoin from Twitter CEO Jack Dorsey, and you know that protest hurt their reps. So to prevent further reoccurrence they banned all Cryptocurrency bank accounts
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I am pretty sure that Nigeria will unban crypto very soon. There are some countries that ever did the same way before. They all ban crypto because of certain reasons, but it won't last a long time. The governments of the countries unban again crypto, they know the potential and the importance of crypto. So, don't be so worry.
Very true mate, what i came to realize in the Nigerian government restriction is that they have already seen the potentials, hence there best of getting in and not just sitting on the sidelines is to start by placing a restriction. I believe they will eventually come around and then they will want to start taxing crypto traders and investors.
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Easy.
Remember the EndSARS protest of October last year? Good! The government after freezing all bank accounts helping protests, was mad that the organizers of the protest received funding via bitcoin from Twitter CEO Jack Dorsey, and you know that protest hurt their reps. So to prevent further reoccurrence they banned all Cryptocurrency bank accounts
The government can only hurt local banks and financial institutions but she cannot hurt the people that are holding and investing in cryptocurrencies.
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This ban is not well thought out before action was taken. It was not quite long that SEC announced that it wanted to chart out a crypto regulation in the country. Cryptocurrencies shouldn't be given a bad name just because a few bad elements use the avenue to perpetrate illegal things. More even happens under the nose of the government through banks.
However, one can still buy and sell crypto via the peer-to-peer market on trusted platforms. It's that simple.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
Your statement was not complete actually, can't you give any resource link about what you are talking about?
if the Central Bank of Nigeria blocked it, there must be a valid reason why they implemented that. Besides, We do nothing about it. Moreover, in terms of alternatives, I think there is another exchange in cryptocurrency accepting transfer from the exchange going to the bank card or ATM.
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It may be that the authorities do not like the money, which they cannot track, and this is dangerous for them. The only thing left to do is to search for sites that are not relevant to them and that work there, using other sources as well.
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Maybe it's because they can't control it like the Nigeria Naira. No one should hear about crypto and dug it down. I believe they will still review it because I don't think they have concluded. But even if they conclude, there will definitely be other ways to it.
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@ashraf786100, @Nimix, that has always happened in many governments, they fear what they cannot control, what can change their power status. But it has not only happened to the Nigerian government, it has happened to many countries since the birth of Bitcoin and crypto. Most of those countries have rectified and seen the advantages of cryptocurrencies. I hope the Nigerian government can see the benefits of the crypto ecosystem.
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This ban is not well thought out before action was taken. It was not quite long that SEC announced that it wanted to chart out a crypto regulation in the country. Cryptocurrencies shouldn't be given a bad name just because a few bad elements use the avenue to perpetrate illegal things. More even happens under the nose of the government through banks.
However, one can still buy and sell crypto via the peer-to-peer market on trusted platforms. It's that simple.
After looking critically, i actually see no reason for the restriction of cryptocurrency in the country but in another way around, i see it there body movement to show they address actually interested in crypto and they want to start their usual job of tasking.
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Did they ban crypto for all transactions? I mean as, in my country, crypto is not legal as payment. But this is legal for digital asset or investment, as a commodity.
However if they ban crypto for all, so sad to know it Nowadays, many countries welcome cryptocurrency
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
Can you share the link regarding this news, make sure you choose Dex exchange and other decentralized exchanges such as Bancor and Uniswap, on Bancor exchange there is a fiat deposit option using a debit card and you can take that alternative.
There are many Dex exchanges and you don't need to worry if you can't make a withdrawal from the bank, maybe you can use Paypal and Payeer and make P2P exchanges from crypto users on centralized exchanges
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
That don't really affect whether cryptocurrency trading will slow down because I believe it wont regardless of CBNs/the Government's position because before the announcement, crypto traders where already involve in P2P trading in a lot of different crypto exchanges by choice only this time. that P2P seems to be the only means of withdrawing cash to you account which is still fine but just a but slower.
I hope they the Government will have a change of heart soonest as the Vice president put out this tweet yesterday and I believe most of them understands what crypto does for the youths but just want to clamp it down as a means to punish them hence they give all those useless negative excuses about cryptocurrency
https://twitter.com/ProfOsinbajo/status/1365300799535009793?s=20
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To this matter of central bank banning crypto deposit and bank transfer to any crypto related account in the bank we are still believing that the issue will be resolved in the main time because the matter of fact crypto currency is what every body need at this time, Nigeria should not be left behind in the use of Cryptocurrency, but the same time I still recommend the P2p trading.
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Quite frankly, is there any meaningful reason given by the Nigeria government on why they ban Banks from supporting crypto trading in the country? How much of crypto has been linked to fraud in the country? We hear Bandits and kidnapers demanding for ransom and those ransoms are being paid but none has been linked to cryptocurrency. This is the worst government in history that will deliberately put the youths in the most unpleasant situation by not only not been able to create jobs for the population but also doing everything within their power to make the youths suffer by trying to takeaway the next available source of earnings for them, well we ain't dead yet.
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Maybe it's because they can't control it like the Nigeria Naira. No one should hear about crypto and dug it down. I believe they will still review it because I don't think they have concluded. But even if they conclude, there will definitely be other ways to it.
Of course, I think the reason why several countries have blocked crypto currency because The government cannot control crypto currency and they re worry crypto currency will be misused by illegal activities.
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@ashraf786100, @Nimix, that has always happened in many governments, they fear what they cannot control, what can change their power status. But it has not only happened to the Nigerian government, it has happened to many countries since the birth of Bitcoin and crypto. Most of those countries have rectified and seen the advantages of cryptocurrencies. I hope the Nigerian government can see the benefits of the crypto ecosystem.
Whatever have advantage also have a disadvantage, perhaps tge Nigerian government haven't figured a way of handling the disadvantage is the reason for the ban, don't get me wrong, am a crypto lover too but we can not ignore the fact that this space is to venerable and there are many naive investors coming into crypto everyday, an easy target for scammers because truth be told crypto is full of scammers being an unregulated ecosystem makes it worse.
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To me, this is not much a serious thing. The Nigerian government won't say that they are blocking the use of bitcoin to bank transaction because of illegal money laundry. Everything illegal has been even before the internet came to existence and use. Countries that placed a ban on bitcoin is only within that country, it does not affect the internet neither does it affect bitcoins transactions in the crypto space. P2P transaction has been even before binance made their own development, and binance making their own development has made it safer. Therefore, anything country ban will only affect those who does not know of P2P.
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I believe that all these bans are purely speculative. It's just that governments also like to play on the course of cryptocurrencies, trying to influence them through government regulation. It is enough just to observe their actions.
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Nigeria a popular cryptocurrency friendly country in the cryptocurrencies market but recently they are blocking cryptocurrencies related accounts and stop to deposit and withdraw systems. Sorry to say that ban cryptocurrencies in nigeria a bad news for us.
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Well, do you remember what happened in the EndSARS movement and how the Nigerian authorities were mad that Twitter's Jack Dorsey gave some bitcoin after the government blocked the protesters' account? Good. That could the the reason. Even Lai Mohammed the Information Minister threatened Dorsey with a lawsuit
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Please give some trusted statement otherwise we are getting confused a lot. Specially any negative news of crypto you need to ensure that topic.becouse this kind of topic very harmful for crypto market .
No this is legit news. It was all over the world media, even BBC carried it. Unless you weren't paying attention to global crypto news. Its been 3 weeks or so, now. And there has been backlashes as expected
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The reason nigeria is banning crypto is because it is having a negative impact on their country. The government has no control the delegation notes that the sanctions could face legal challenges as there is currently no law by the national assembly on the crime or illicit trade in cryptocurrency in nigeria.
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@labonikhatun it may be partly because of what you say. Anyway, if the Nigerian government, or any government, believes that cryptocurrencies are only for use in illegal matters, they demonstrate their ignorance and stupidity. There are numerous studies that show otherwise, what leads me to think is that if they finally decide to ban cryptocurrencies, they do it for fear of not being able to control what people do with their money.
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Nigeria Ban Cryptocurrency it Is Normal Matter I Think. Crypto-currency Ban In Our Country From The Beguin. But Is It Stop? No I Think Not. It Is Running In Our Country. many People using Cryptocurrency. And Creating Their Business. I Think Nigeria will Continue Cryptocurrency Today or Tomorrow.
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Nigeria Ban Cryptocurrency it Is Normal Matter I Think. Crypto-currency Ban In Our Country From The Beguin. But Is It Stop? No I Think Not. It Is Running In Our Country. many People using Cryptocurrency. And Creating Their Business. I Think Nigeria will Continue Cryptocurrency Today or Tomorrow.
It is not actually a total Ban for now and I hope it will never be a total Ban because that will be disastrous. It is just that, the government instructed the banks not to service and block any Account that has any crypyo related transactions in them so traders have resulted to P2P with out mentioning crypto trade in their transactions.
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Nigeria Ban Cryptocurrency it Is Normal Matter I Think. Crypto-currency Ban In Our Country From The Beguin. But Is It Stop? No I Think Not. It Is Running In Our Country. many People using Cryptocurrency. And Creating Their Business. I Think Nigeria will Continue Cryptocurrency Today or Tomorrow.
It is not actually a total Ban for now and I hope it will never be a total Ban because that will be disastrous. It is just that, the government instructed the banks not to service and block any Account that has any crypyo related transactions in them so traders have resulted to P2P with out mentioning crypto trade in their transactions.
You are right. People keep saying that the federal government in Nigeria Ban crypto, I too believe if it were to be a Ban, can crypto still be traded without like VPN service? I believe the Government don't even know what there are doing cos if they do, they wouldn't have done what they did cos it didn't really change anything as people are still trading till tomorrow so their action don't make any difference to me.
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Yes @nicecrypto, there are many ways to avoid the prohibition of practically anything, as you say we can use VPN services, proxies, mirrors, there is a lot of variety. The problem is that not everyone has the necessary knowledge to do it, although it is actually easier than it seems. What I do believe is that the government is not going to close its mind about it, in any case there will always be ways to do it, with or without its consent.
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Its simple. You can't control what you don't own. Crypto is out of their control, and it was used to support the EndSARS protest that rocked the country ending of last year. So all in all, it wasn't their favorite currency
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In my opinion, the government will not achieve much with its ban. Yes, of course, this creates a lot more difficulties in work, but it is impossible to completely prohibit cryptography. There are many ways to avoid this. All of this can be learned if desired.
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I guess you need to find an exchange that has supports sending money to the bank like paypal, perfectmoney, skrill, payza and etc.. that no related cryptocurrency.. this is only way to convert your cryptos into fiat money.
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There are many countries in the world where bitcoin currency is illegal. And i think Nigeria is one of them. But i think in future they will accept Bitcoin as a payment. Because developed countries in the world have adopt this currency. So, they also need to provide latest technology to their peoples.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
I think Nigeria will accept crypto currency at the coming future. I believe It will happen at the next several years again . Keep calm and believe crypto currency will be accepted at all of countries . Because crypto is the future technology
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I think the solution is to use a VPN. Perhaps some projects also restrict investment from countries that prohibit the entry of bitcoin. However, there is always the best way to get into cryptocurrency. If the account requires KYC, you can ask the OTC telegram group and get an account that has KYC in their country by purchasing it. and you can continue trading and investing.
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@innerpumper using VPN services would be the easiest, but if any user wants to receive fiat money in their bank account after selling cryptocurrencies, they will still have the same problem, since the authorities can see activity with cryptocurrencies in the bank accounts of any user. I remain confident that the Nigerian government and banking authorities will allow the use of crypto without problems.
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Why did Central Bank of Nigeria have to block all account related to cryptocurrency in Nigeria!!! And what do you think will be the alternative which can be use for depositing and withdrawal.
Good question. An obvious part to bare in mind is poor banking. Banking is poor, cryptocurrency takes business away
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The ban does not outrightly ban crypto currency activities; the thing it does is that it prevents citizens from doing banking transactions for crypto currency tokens. Which means bank are not allowed to let that happen. The solution is p2p and you can see that on binance, kucoin, okex project. :)
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Its effect will be huge. Unfortunately, Nigeria government will affect some other African countries. But in the end, they will also adopt the blockchain technology and will create their own CBDC.
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I have heard the news for a long time and this will certainly affect the price in the market. Although indeed more countries are now supporting crypto.
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In this case there's always alternative in buying crypto currency in Nigeria despite the ban some people still sell and receive money from Cryptocurrency users here in Nigeria through P2P Exchange and I think that serveral exchange are using P2P to receive money in purchasing Cryptocurrency in different countries and especially Nigeria.
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Its effect will be huge. Unfortunately, Nigeria government will affect some other African countries. But in the end, they will also adopt the blockchain technology and will create their own CBDC.
Not this particular Nigerian Government. This are the most Citizen Hater Government that has not been able to provide any thing for the Unemployed youth and yet pay out Ransoms in millions of Dollars to Bandits and Criminals because they are the sponsors. This present government don't know nothing about anything good talk less of adopting cryptocurrencies.
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In this case there's always alternative in buying crypto currency in Nigeria despite the ban some people still sell and receive money from Cryptocurrency users here in Nigeria through P2P Exchange and I think that serveral exchange are using P2P to receive money in purchasing Cryptocurrency in different countries and especially Nigeria.
Binance P2P has been serving Nigerian cryptos traders and hodlers well in fact the ban placed on cryptocurrencies has little impact or no significant impact on traders because of other reliable alternatives such as P2P, traders will continue to trade and transact anonymously without any government interference except the internet is shut else cryptocurrencies transactions will continue unhindered in Nigeria.
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@gabbie2010 it is logical for Nigerian citizens to trade that way. When governments (in favor of banks) do not know how to act because they do not have enough freedom, citizens must continue with their activities in the way that benefits them. Nobody can stop that, people need freedom.
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@gabbie2010 it is logical for Nigerian citizens to trade that way. When governments (in favor of banks) do not know how to act because they do not have enough freedom, citizens must continue with their activities in the way that benefits them. Nobody can stop that, people need freedom.
True that. People most continue to survive especially in this days where cryptocurrency have come to rescue a lot of unemployed youths and since the P2P trading system have already been in play even before the Nigeria government action, that just happen to now be the most or only way to trade or rather withdraw your fiat money from crypto trading.
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Right @Anonylz, no one can prevent people from trying to improve in life, giving their children a better education, trying to have a better quality of life, nor governments, banks or corporations. That is something governments know, but as much as they try to fight something so obvious, people will continue to fight in one way or another.
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Cryptocurrency is legal in most developed countries. Such as United States, Japan, Canada, Australia, Russia, China, India. There are approvals of cryptocurrency in more different countries. One after another countries have started approving cryptocurrencies. So I think the future is much better.