Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Rruchi man on April 19, 2024, 09:10:13 PM
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
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If there is any good centralized exchanges and I am content with it then I will not go back to Binance again but there will non then I will go back to Binance. And if they are coming back they will not be like before again and they be very strict so the terms and conditions will be different. As for me they have disappointed me for not obeying the rules of the land and the worst part was the manipulation of the naira. Me I no dey support bad theings
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
At the speed of light, they haven't done anything to offend Nigerians; their concern is with the government, not the people. My Binance account is still working, and my coins remain intact.
Do you guys think Naira p2p trading will ever return to Binance after all these mess?
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I like how India dealt with these exchanges, unlike what Nigeria did. Binance later negotiated to pay $2 million fine to get registered in India.
Back to the discussion. I have many exchanges that I am using. It will just be like how I was before, before Binance banned P2P transactions for Nigerians.
Worth to know that Nigerians are still making use of Binance through the mobile app. Only the P2P is what we do not have access to.
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I like how India dealt with these exchanges, unlike what Nigeria did. Binance later negotiated to pay $2 million fine to get registered in India.
Back to the discussion. I have many exchanges that I am using. It will just be like how I was before, before Binance banned P2P transactions for Nigerians.
Worth to know that Nigerians are still making use of Binance through the mobile app. Only the P2P is what we do not have access to.
We still have access to P2P marketplace - you can trade your coins to any fiat of your choice except the Naira. Only Naira was disabled. Nigerians are not blocked.
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Of a truth policies and sanctions do not last long as it would definitely be reviewed or changed when a new government comes into power. In some cases, it is the same government that made such policies would still at the end review it and possiblely restructure that which they have altered.
I personally don't have any issues with binance. I am only just worried if the Nigeria government would not be harsh to frustrating Nigerians from using binance since binance does not want to comply with them. Banning the app would be their next target I think. Till then, I still have my assets there.
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I think Kucoin also have the same features of Binance but if Binance comes back again it might do well because they would not want to offend the government again but I don't if Binance will still come to Nigeria again. Because the pressure Nigerian government take give them e too much. The $10 billions fine e still dey on ground wey dem never do. For Binance to join hand to manipulate di naira, I no dey like am again. And if f I will use am sef na because if the price in the exchange e dey okay then I go use but if na di same price with others then w no need to am again.
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I think Kucoin also have the same features of Binance but if Binance comes back again it might do well because they would not want to offend the government again but I don't if Binance will still come to Nigeria again.
After the issue has been solved, Binance will look for all possible ways to continue naira P2P transaction. According to 2024 Chainanalysis report, Nigeria emerged as the number 1 highest in trading volume in P2P transaction. That is enough to encourage the exchange just like the exchange paid $2 million fine in India and obtained a license after it was banned.
Because the pressure Nigerian government take give them e too much. The $10 billions fine e still dey on ground wey dem never do. For Binance to join hand to manipulate di naira, I no dey like am again. And if f I will use am sef na because if the price in the exchange e dey okay then I go use but if na di same price with others then w no need to am again.
Disregard the new of Nigeria government fined or want to fine Binance for $10 billion. It was a news that BBC misinterpreted and become fake news. The fine will be in million dollars and not billion is what I speculated. Court has not made any judgement yet.
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Now FG is blaming the other exchanges for the recent increase of the dollar and the depreciation of the Naira. And now they want to go after them. I saw it in today newspaper headline review and I screenshot it.
(https://www.talkimg.com/images/2024/04/25/rayyG.jpeg),
even yesterday Newspaper review also made this statement that They want to crackdown bYbit, Kucoin OKX and others. Well let see how it will go.
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Now FG is blaming the other exchanges for the recent increase of the dollar and the depreciation of the Naira. And now they want to go after them. I saw it in today newspaper headline review and I screenshot it.
(https://www.talkimg.com/images/2024/04/25/rayyG.jpeg),
even yesterday Newspaper review also made this statement that They want to crackdown bYbit, Kucoin OKX and others. Well let see how it will go.
That would be foolish thing to do - best way to handle is to meet with these exchanges and try to find solutions but I doubt any exchange rep would want to visit Nigeria right now. We're supposed to have Binance.ng, OKX.com.ng, KuCoin.ng and so on if only the SEC and the CBN know what they're doing. Regulate these exchanges, monitor the Naira price and get service tax in return. A win win for everyone.
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Now FG is blaming the other exchanges for the recent increase of the dollar and the depreciation of the Naira. And now they want to go after them. I saw it in today newspaper headline review and I screenshot it.
(https://www.talkimg.com/images/2024/04/25/rayyG.jpeg),
even yesterday Newspaper review also made this statement that They want to crackdown bYbit, Kucoin OKX and others. Well let see how it will go.
Have you seen a market that will significantly retrace without any slight correlation before? The government and the CBN can try to manipulate but the economy is making things surface for itself.
That would be foolish thing to do - best way to handle is to meet with these exchanges and try to find solutions but I doubt any exchange rep would want to visit Nigeria right now. We're supposed to have Binance.ng, OKX.com.ng, KuCoin.ng and so on if only the SEC and the CBN know what they're doing. Regulate these exchanges, monitor the Naira price and get service tax in return. A win win for everyone.
You can see how India and Philippines and other countries dealt with Binance in a way that if Binance is still interested, it will negotiate and still pay fine before it will be register in the country. But I do not know why Nigeria is so different and think everything is about fighting. Those countries used their citizens money protection as an excuse but Nigeria is using naira manipulation, money laundering and others as an excuse without including their citizens money protection. What they care about is money and not citizens money protection and interest.
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That would be foolish thing to do - best way to handle is to meet with these exchanges and try to find solutions but I doubt any exchange rep would want to visit Nigeria right now. We're supposed to have Binance.ng, OKX.com.ng, KuCoin.ng and so on if only the SEC and the CBN know what they're doing. Regulate these exchanges, monitor the Naira price and get service tax in return. A win win for everyone.
You can see how India and Philippines and other countries dealt with Binance in a way that if Binance is still interested, it will negotiate and still pay fine before it will be register in the country. But I do not know why Nigeria is so different and think everything is about fighting. Those countries used their citizens money protection as an excuse but Nigeria is using naira manipulation, money laundering and others as an excuse without including their citizens money protection. What they care about is money and not citizens money protection and interest.
Is not too late now is it? I mean they have the Binance reps here with them, a bigger leverage to come into an agreement, regulate the exchange, have them create head office here in Nigeria, pay tax and nobody goes to jail. We have the numbers and Binance I'm sure wouldn't want to lose us. They must play every role to come to an agreement.
Didn't follow up the bail case on Tuesday - what's the update? Denied or accepted?
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
The best part is that not all Nigerians left binance for good. Like myself for instance, I still use binance up till date to do other trading activities. So yes, if binance were to return the Nigeria p2p section, I'll be very happy so I don't get to use two different exchanges to carry out my trading activities like i currently am doing. I just believe that our government wants to tax all these exchanges before they will let them operate in their space.Not just Nigeria has driven binance out. in couple of months now, countries like Philippines, India has driven out exchanges and I guess they all want the same thing which is to pay a fine or to tax them.
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As a matter of facts Binance had no issues with any of their users rather facing difficulties with our government with some regulatory charges for whatever reason they are battling over there, I still use my binance to trade and do whatever except for buy NGN directly from p2p. Between that is the only restrictions sets on people so if they settles whatever case they had with the government they can easily fixed in the NGN/USDT or NGN/BTC trading pair, so there is no much changes.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
To be sincere, Binance, as a CEX, is one of the best I have seen so far due to its user-friendly interface and well-customized mobile APK. Of course, certain policies and sanctions might be reversed depending on who is in power. The current administration has been tough on certain things for a while now, sadly Binance is one of the victims. If the ban is lifted and Binance happens to come back, I think myself and many Nigerians would be glad to continue with them. But this time, Nigerians would have to be careful because we might not be aware of the agreement that took place between the Nigerian government and the Binance board.
As a matter of facts Binance had no issues with any of their users rather facing difficulties with our government with some regulatory charges for whatever reason they are battling over there, I still use my binance to trade and do whatever except for buy NGN directly from p2p. Between that is the only restrictions sets on people so if they settles whatever case they had with the government they can easily fixed in the NGN/USDT or NGN/BTC trading pair, so there is no much changes.
Of course, Nigerians are still eligible to use other fixtures such as trading, but the P2P removal is a massive blow to so many of us. This is where most of us engage in selling and buying, bringing some kind of smile to our faces knowing how tough the economy is. I am not quite sure if the previous administration had any policies in place governing cryptocurrency exchange (CEX) in Nigeria. The absence of policies gave the current administration so much power and reasons to find fault.
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Now FG is blaming the other exchanges for the recent increase of the dollar and the depreciation of the Naira. And now they want to go after them. I saw it in today newspaper headline review and I screenshot it.
(https://www.talkimg.com/images/2024/04/25/rayyG.jpeg),
even yesterday Newspaper review also made this statement that They want to crackdown bYbit, Kucoin OKX and others. Well let see how it will go.
That would be foolish thing to do - best way to handle is to meet with these exchanges and try to find solutions but I doubt any exchange rep would want to visit Nigeria right now. We're supposed to have Binance.ng, OKX.com.ng, KuCoin.ng and so on if only the SEC and the CBN know what they're doing. Regulate these exchanges, monitor the Naira price and get service tax in return. A win win for everyone.
Like I said before, the SEC and CBN does not have an idea on how these crypto regulations works because they are not working with competent hands, but they are doings things from their own shallow understanding. However, our country is corrupt, and maybe only some particular set of people is really after taking this fine from Binance, and don't care about regulating the exchanges. Taking down other exchanges will be the most stupid thing to do. Who are they taking down for the hike in food stuffs and other commodities.
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Like I said before, the SEC and CBN does not have an idea on how these crypto regulations works because they are not working with competent hands, but they are doings things from their own shallow understanding. However, our country is corrupt, and maybe only some particular set of people is really after taking this fine from Binance, and don't care about regulating the exchanges. Taking down other exchanges will be the most stupid thing to do. Who are they taking down for the hike in food stuffs and other commodities.
The Naira rate has just risen to N1400/$1; whatever the CBN is doing is no longer working, and they can clearly see that Binance was not the issue. Using our foreign reserves to subsidise the Naira in order to dupe the entire country and force everyone to believe Binance was the problem rather than looking for a permanent solution is a sackable act, regardless of who came up with the plan.
The naira began falling after the CBN was exposed for using our foreign reserves to strengthen it, which they said was false. They can keep lying to themselves, but we know the truth. The only disadvantage here is that they may make another idiotic choice that will further harm ordinary Nigerians going about their business.
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The Naira rate has just risen to N1400/$1; whatever the CBN is doing is no longer working, and they can clearly see that Binance was not the issue. Using our foreign reserves to subsidise the Naira in order to dupe the entire country and force everyone to believe Binance was the problem rather than looking for a permanent solution is a sackable act, regardless of who came up with the plan.
What do you expect of a government that forced itself into power clearly to meet a situation that they could not solve, but only cast blames as the other administration was doing.
We go see how much the exchange rate go reach, and the excuse dem go give this time, or who dem go blame.
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Now FG is blaming the other exchanges for the recent increase of the dollar and the depreciation of the Naira. And now they want to go after them. I saw it in today newspaper headline review and I screenshot it.
(https://www.talkimg.com/images/2024/04/25/rayyG.jpeg),
even yesterday Newspaper review also made this statement that They want to crackdown bYbit, Kucoin OKX and others. Well let see how it will go.
That would be foolish thing to do - best way to handle is to meet with these exchanges and try to find solutions but I doubt any exchange rep would want to visit Nigeria right now. We're supposed to have Binance.ng, OKX.com.ng, KuCoin.ng and so on if only the SEC and the CBN know what they're doing. Regulate these exchanges, monitor the Naira price and get service tax in return. A win win for everyone.
Like I said before, the SEC and CBN does not have an idea on how these crypto regulations works because they are not working with competent hands, but they are doings things from their own shallow understanding. However, our country is corrupt, and maybe only some particular set of people is really after taking this fine from Binance, and don't care about regulating the exchanges. Taking down other exchanges will be the most stupid thing to do. Who are they taking down for the hike in food stuffs and other commodities.
My man Sim card, make nobody deceive you or you should mislead people say SEC and CBN know no weti cryptocurrency or dem no get idea. Dem know everything and know what to do. I don watch dem for TV when dis guys dey analyse cryptocurrency,dem know everything about cryptocurrency. Do you know dat those guys dey invest in Bitcoin? Who told SEC say Binance dey manipulate di naira, nobody. Di guy dat represented SEC in Channels TV when Binance and dem dey hot, he say he was selling NGN43m and what happened to me happened to him in which they placed higher price on the ads and negotiated when you placed order. And let me shock you, most of the politicians in Nigeria are investing in bitcoin. I think there was a time, they traced some people in Rivers State. So when you say those guys no get ideas in crypto den you dey do mistake ohh.. They have Blockchain experts in their department.. Remember what happened in the #EndSARS . They trace most the transaction to bitcoin and because of that period me too understand bitcoin.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Binance is a big exchange, regardless say the failed to fight for their Nigerian customers, and the worst of them is CZ, CZ is a very good man to the global cryptocurrency market as a whole, but then, he has failed his Nigerian users multiple times, I guess the nigga is like me wey no dey like to chuk mouth to wetin I believe say e no concern me, but all the same, it's bad that he never made any supportive comments as regards to his Nigerian customers in times when people expected him to atleast say something, like for example, during the end Sars protest, even Elon musk showed support for the Nigerian youths, but CZ never made any comment regarding the matter, seems hes just after making money from Nigerians and that's all.
If Binance definitely returns back to nigeria, I believe some Nigerians will return back to the exchange to continue trading, while some will remain where they are currently, but for me, the only reason why I will possibly return back to Binance is if I get a better deal there, else, I will just remain where I am currently, which is okx and remitano.
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If Binance definitely returns back to nigeria, I believe some Nigerians will return back to the exchange to continue trading, while some will remain where they are currently, but for me, the only reason why I will possibly return back to Binance is if I get a better deal there, else, I will just remain where I am currently, which is okx and remitano.
Well, OKX is more preferable than Remitano though never trust that site for one day because they can compromise even though we don't have to trust any exchange but to me, it looks more likely to scam people in remitano than any other site. Binance has gained trust in Nigeria and users can still trade over there without them giving Nigerians sanctions by on the case on ground, even as that I still keep using Binance without leaving them rather if there any case of buying NGN I go down to okx to complete buying of NGN.
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Binance is a big exchange, regardless say the failed to fight for their Nigerian customers, and the worst of them is CZ, CZ is a very good man to the global cryptocurrency market as a whole, but then, he has failed his Nigerian users multiple times, I guess the nigga is like me wey no dey like to chuk mouth to wetin I believe say e no concern me, but all the same, it's bad that he never made any supportive comments as regards to his Nigerian customers in times when people expected him to atleast say something, like for example, during the end Sars protest, even Elon musk showed support for the Nigerian youths, but CZ never made any comment regarding the matter, seems hes just after making money from Nigerians and that's all.
If we have to say the truth, it is not even about endSARs or affairs pertaining to Nigeria that he was not involved in, but Binance is truly not doing the right thing. He is providing crypto products and services to Nigerians but not registered under CAC. That is bad. But the way the regulators and federal government are handling the matter is what we do not like. India was wiser.
If Binance definitely returns back to nigeria, I believe some Nigerians will return back to the exchange to continue trading, while some will remain where they are currently, but for me, the only reason why I will possibly return back to Binance is if I get a better deal there, else, I will just remain where I am currently, which is okx and remitano.
There is something about that exchange that I do not understand. The reason why people just like it. If it comes back for naira P2P, Nigerians will use it.
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Binance is a big exchange, regardless say the failed to fight for their Nigerian customers, and the worst of them is CZ, CZ is a very good man to the global cryptocurrency market as a whole, but then, he has failed his Nigerian users multiple times, I guess the nigga is like me wey no dey like to chuk mouth to wetin I believe say e no concern me, but all the same, it's bad that he never made any supportive comments as regards to his Nigerian customers in times when people expected him to atleast say something, like for example, during the end Sars protest, even Elon musk showed support for the Nigerian youths, but CZ never made any comment regarding the matter, seems hes just after making money from Nigerians and that's all.
If we have to say the truth, it is not even about endSARs or affairs pertaining to Nigeria that he was not involved in, but Binance is truly not doing the right thing. He is providing crypto products and services to Nigerians but not registered under CAC. That is bad. But the way the regulators and federal government are handling the matter is what we do not like. India was wiser.
If Binance definitely returns back to nigeria, I believe some Nigerians will return back to the exchange to continue trading, while some will remain where they are currently, but for me, the only reason why I will possibly return back to Binance is if I get a better deal there, else, I will just remain where I am currently, which is okx and remitano.
There is something about that exchange that I do not understand. The reason why people just like it. If it comes back for naira P2P, Nigerians will use it.
Nigeria may be taken for granted by the federal government so that this problem is not handled well immediately. In contrast to large countries that have good legal powers, they will definitely quickly resolve this problem. Returning the assets owned by many Nigerian citizens who have become victims and cannot withdraw their assets should be one of the main priorities at this time.
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Nigeria may be taken for granted by the federal government so that this problem is not handled well immediately. In contrast to large countries that have good legal powers, they will definitely quickly resolve this problem. Returning the assets owned by many Nigerian citizens who have become victims and cannot withdraw their assets should be one of the main priorities at this time.
The government from outset never wants her teaming Youths to progress or to come out from poverty and they like to cage them so that they will use them to do thuggery and other political works dat was their aim so when all these cryptocurrencies came out and the brilliant Youths key into it and use it to make money and it angers them so dem just dey fine all means to section all these exchanges because they can't have access to bitcoin and have control over it. The more they try the more we also advance. After now the real p2p will come to play. Even tht time when they banned Bitcoin and people accounts were also blocked, yet those boys went to the banks and discussed with the bank managers and transferred the funds to another account and withdraw it. There is always a way out.
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The government from outset never wants her teaming Youths to progress or to come out from poverty and they like to cage them so that they will use them to do thuggery and other political works dat was their aim so when all these cryptocurrencies came out and the brilliant Youths key into it and use it to make money and it angers them so dem just dey fine all means to section all these exchanges because they can't have access to bitcoin and have control over it. The more they try the more we also advance. After now the real p2p will come to play. Even tht time when they banned Bitcoin and people accounts were also blocked, yet those boys went to the banks and discussed with the bank managers and transferred the funds to another account and withdraw it. There is always a way out.
We are the problems of ourselves sincerely speaking because I don't see were government would want to fight bitcoin and cryptocurrency at large forgotten that they aren't the people who created it and for that they can't have full control over it than people who originally created it. In terms of government wanting to control her citizen this is correct because they always want everyone to be loyalist and be running around for them during their political movement, when they noticed they don't have much youth under their control they go source the solution why they aren't longer loyal to them and when they discover they would want to tight every place that is producing that happiness for the youth.
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If.they understand with the government and everything.works smoothly then, I will still use their services because since they have agreed with the government to operate.without manipulating the naira then everything good.
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If.they understand with the government and everything.works smoothly then, I will still use their services because since they have agreed with the government to operate.without manipulating the naira then everything good.
Usually they won't operates anymore without the permission of the government or having to sign agreement with the government in compliance the act of operations. Binance is the best exchange among every other exchanger out there and they have already gain reputation in our country and there is no active youth on social media today that doesn't know about Binance exchange.
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If.they understand with the government and everything.works smoothly then, I will still use their services because since they have agreed with the government to operate.without manipulating the naira then everything good.
Usually they won't operates anymore without the permission of the government or having to sign agreement with the government in compliance the act of operations. Binance is the best exchange among every other exchanger out there and they have already gain reputation in our country and there is no active youth on social media today that doesn't know about Binance exchange.
Is it only Naira p2p most of you uses these exchanges for ? Cause I don't understand why many of you already abandoned Binance only because the Naira trading pairs were removed. What about trading and staking?
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Is it only Naira p2p most of you uses these exchanges for ? Cause I don't understand why many of you already abandoned Binance only because the Naira trading pairs were removed. What about trading and staking?
The boss I no go lie for you as for me na only that feature I dey use am for. Either I use am buy or sell. I no dey use am do another task. And if I dey trade I dey use trading apps to do the trading and not exchange platforms to trade. I never use am stake before sef. But as cryptocurrency enthusiast I need to use all those features so dat wen we dey tok or when people dey tok, at least one can also contribute something. It is good so I will look into that.
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If.they understand with the government and everything.works smoothly then, I will still use their services because since they have agreed with the government to operate.without manipulating the naira then everything good.
Usually they won't operates anymore without the permission of the government or having to sign agreement with the government in compliance the act of operations. Binance is the best exchange among every other exchanger out there and they have already gain reputation in our country and there is no active youth on social media today that doesn't know about Binance exchange.
Is it only Naira p2p most of you uses these exchanges for ? Cause I don't understand why many of you already abandoned Binance only because the Naira trading pairs were removed. What about trading and staking?
Well if you must know I still uses binance exchange till now and use it to trade but i can't trade on p2p hence i look for somewhere else to trade my NGN but basically I still my binance app with me and using to do my daily trading, I believe gradually i will become more knowledgeable while trading. I still read some trading tips online to understand how to go about with my trading.
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Is it only Naira p2p most of you uses these exchanges for ? Cause I don't understand why many of you already abandoned Binance only because the Naira trading pairs were removed. What about trading and staking?
The boss I no go lie for you as for me na only that feature I dey use am for. Either I use am buy or sell. I no dey use am do another task. And if I dey trade I dey use trading apps to do the trading and not exchange platforms to trade. I never use am stake before sef. But as cryptocurrency enthusiast I need to use all those features so dat wen we dey tok or when people dey tok, at least one can also contribute something. It is good so I will look into that.
You don't necessarily need to be a trader though, wouldn't advice anyone to, cause of the volatility of crypto unless you know what you're doing. Staking is quite easy and doesn't need any special skills, you just have to look for a coin with a good APY and stake for the duration you want and take profits.
OKX offers 30% APY on first time flexible savings for 7 days although I didn't get up to 30% on my first savings.
Well if you must know I still uses binance exchange till now and use it to trade but i can't trade on p2p hence i look for somewhere else to trade my NGN but basically I still my binance app with me and using to do my daily trading, I believe gradually i will become more knowledgeable while trading. I still read some trading tips online to understand how to go about with my trading.
It was a general statement, I was referring to some crypto GEN X
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Is it only Naira p2p most of you uses these exchanges for ? Cause I don't understand why many of you already abandoned Binance only because the Naira trading pairs were removed. What about trading and staking?
The boss I no go lie for you as for me na only that feature I dey use am for. Either I use am buy or sell. I no dey use am do another task. And if I dey trade I dey use trading apps to do the trading and not exchange platforms to trade. I never use am stake before sef. But as cryptocurrency enthusiast I need to use all those features so dat wen we dey tok or when people dey tok, at least one can also contribute something. It is good so I will look into that.
You don't necessarily need to be a trader though, wouldn't advice anyone to, cause of the volatility of crypto unless you know what you're doing. Staking is quite easy and doesn't need any special skills, you just have to look for a coin with a good APY and stake for the duration you want and take profits.
OKX offers 30% APY on first time flexible savings for 7 days although I didn't get up to 30% on my first savings.
Well if you must know I still uses binance exchange till now and use it to trade but i can't trade on p2p hence i look for somewhere else to trade my NGN but basically I still my binance app with me and using to do my daily trading, I believe gradually i will become more knowledgeable while trading. I still read some trading tips online to understand how to go about with my trading.
It was a general statement, I was referring to some crypto GEN X
Seems I would have to look over this aspect since there is no risk involved in it, although I think it's better one used a reputable coin like bitcoin or the exchange coin, I think there are some exchange that offers go reward for staking their native currency such as BNB on Binance but never come to think about this, lemme say its skipped me though because I red it on some channels.
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Staking is quite easy and doesn't need any special skills, you just have to look for a coin with a good APY and stake for the duration you want and take profits.
Boss why you know tell dis since because from your explanation dis one go make sense die. There is no stress for dis one na. But me I never know how dem dey take dey stake coin oh. So make you create thread for how to stake coin so we go learn from there and more discussion thread go come again so abeg create thread for am. Or any other person sef go fit create am make we use discuss thanks for di understanding. Love you guys here.
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I no go lie, out of all the crypto exchange wey dey Na binance Naim I like pass, because the interface just dey user friendly. Person wey no know how things dey work there fit navigate easily for their app. To me binance Naim be the best, to even prove am, Na them be the biggest for the entire world Na why eyes plenty for their body, from sec reach government to scammers/hackers. But their security too strong for all these hackers to fit dey access the network anyhow. Dem don try tire but Na only scam dem fit scam individual person, and that Na if you fall for all those cheap scams.
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I no go lie, out of all the crypto exchange wey dey Na binance Naim I like pass, because the interface just dey user friendly. Person wey no know how things dey work there fit navigate easily for their app. To me binance Naim be the best, to even prove am, Na them be the biggest for the entire world Na why eyes plenty for their body, from sec reach government to scammers/hackers. But their security too strong for all these hackers to fit dey access the network anyhow. Dem don try tire but Na only scam dem fit scam individual person, and that Na if you fall for all those cheap scams.
Oboy me I no like Binance oh because those him vendors dem really manipulate and almost scammed me. Though that e dey for all the exchanges but na Binance nai I take noticed am and when I ben dey use Remitano, I never see that kind manipulation and attempting scammers of vendors. And why I been dey use their app be say their bitcoin/naira price been dey good well well when I compare am with remitano. Na remitano I take start di crypto exchanges business. Though he was not the best.and there is no best in cryptocurrency exchange. As e bi like dis my $144.888 = NGN209,600 is lose in ByBit and I don fill form taya.dem say make I wait for 7 days.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
People will definitely returned back to using binance, but what will determine for that is by this present condition we have, if the people could deviate and uses decentralized exchanges, then they may find it difficult in returning back because most traders would have been used to the new pattern than the way they have been once used to centralized kyc exchanges, but all i know is that the government cannot stop or ban trading for any reason, likewise they cant ban the use of crypto and all exchanges as well.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
all i know is that the government cannot stop or ban trading for any reason, likewise they cant ban the use of crypto and all exchanges as well.
All I know is that the government can not ban Crypto trading. Although restrictions and sanctions can go on but it never can Stop the existence of Crypto currency. Crypto is people driven not government driven and the government can not do anything about it. It is not controlled by a central authority but decentralised in nature and nobody can control it from anywhere or anyhow.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
all i know is that the government cannot stop or ban trading for any reason, likewise they cant ban the use of crypto and all exchanges as well.
All I know is that the government can not ban Crypto trading. Although restrictions and sanctions can go on but it never can Stop the existence of Crypto currency. Crypto is people driven not government driven and the government can not do anything about it. It is not controlled by a central authority but decentralised in nature and nobody can control it from anywhere or anyhow.
I think say Nigeria government dey always copy foreign countries do their things especially US, why e come be say Naija no fit copy this good one from other countries. Abi na only the bad things our government sabi copy, or because them too old to use crypto and them no go fit benefit from am for backyard way. They can do their worst, but crypto have come to stay in Nigeria and we are happy for this new technology that has given youths the opportunity to use it as a side hustle for themselves.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
all i know is that the government cannot stop or ban trading for any reason, likewise they cant ban the use of crypto and all exchanges as well.
All I know is that the government can not ban Crypto trading. Although restrictions and sanctions can go on but it never can Stop the existence of Crypto currency. Crypto is people driven not government driven and the government can not do anything about it. It is not controlled by a central authority but decentralised in nature and nobody can control it from anywhere or anyhow.
I think say Nigeria government dey always copy foreign countries do their things especially US, why e come be say Naija no fit copy this good one from other countries. Abi na only the bad things our government sabi copy, or because them too old to use crypto and them no go fit benefit from am for backyard way. They can do their worst, but crypto have come to stay in Nigeria and we are happy for this new technology that has given youths the opportunity to use it as a side hustle for themselves.
Paddi man wetin you expect for government wey no get the interest of the masses at heart. Na their own individual pocket and belle dem dey after so. Imagine wetin the new binance CEO been talk about wetin some officials tell them so that dem go release their representative and close the case immediately. Wetin you expect for this kind situation?
Na so our leaders dey dance skelewu dey go back back. No improvement, no development no nothing. Every thing just be as e dey, strike here and there. May God help us.
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Paddi man wetin you expect for government wey no get the interest of the masses at heart. Na their own individual pocket and belle dem dey after so. Imagine wetin the new binance CEO been talk about wetin some officials tell them so that dem go release their representative and close the case immediately. Wetin you expect for this kind situation?
Na so our leaders dey dance skelewu dey go back back. No improvement, no development no nothing. Every thing just be as e dey, strike here and there. May God help us.
Me I still believe say dis Binance matter na di government agencies nai dey cause the whole Wahalla because I could still remember last year when the government/SEC say Binance dey operate illegally in the country but within 2 days nai dat matter die down and dem no bring up until dis recent matter wey come destroy everything. And at that time tok dem collect money from Binance and nai make dey closed di case. Because how Binance go come operate in a country with the consent of the government, it wouldn't work like that.
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Paddi man wetin you expect for government wey no get the interest of the masses at heart. Na their own individual pocket and belle dem dey after so. Imagine wetin the new binance CEO been talk about wetin some officials tell them so that dem go release their representative and close the case immediately. Wetin you expect for this kind situation?
Na so our leaders dey dance skelewu dey go back back. No improvement, no development no nothing. Every thing just be as e dey, strike here and there. May God help us.
Me I still believe say dis Binance matter na di government agencies nai dey cause the whole Wahalla because I could still remember last year when the government/SEC say Binance dey operate illegally in the country but within 2 days nai dat matter die down and dem no bring up until dis recent matter wey come destroy everything. And at that time tok dem collect money from Binance and nai make dey closed di case. Because how Binance go come operate in a country with the consent of the government, it wouldn't work like that.
Big man, as we dey talk now ehn, federal government don drop the charges wey dem place for the binance officials their head. This one now just show say it it agencies and agents no really know wetin dem dey do. Dem just dey confuse themselves and dey show the world how stupid dem dey take handle their cases. I dey disappointed say Na our financial crimes commission dey make this kind silly mistake every time.
If you read the online dailies wey I see this news, you go know say dem don fall hands big time and as a matter of fact, them Sonam with ill intentions to extract money in a wrong way from those guys but thank easy binance know their rights and take a bold stand to defend themselves for this matter.
You fit read here to see am for yourself.
https://www.thecable.ng/breaking-fg-drops-tax-charges-against-binance-executive/amp/
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]Big man, as we dey talk now ehn, federal government don drop the charges wey dem place for the binance officials their head. This one now just show say it it agencies and agents no really know wetin dem dey do. Dem just dey confuse themselves and dey show the world how stupid dem dey take handle their cases. I dey disappointed say Na our financial crimes commission dey make this kind silly mistake every time.
If you read the online dailies wey I see this news, you go know say dem don fall hands big time and as a matter of fact, them Sonam with ill intentions to extract money in a wrong way from those guys but thank easy binance know their rights and take a bold stand to defend themselves for this matter.
You fit read here to see am for yourself.
https://www.thecable.ng/breaking-fg-drops-tax-charges-against-binance-executive/amp/
You no think say na because of the 16 Americans lawmakers wey tell Joe Biden to intervene for di illegal detention of their citizen? Nawao so dey can't do di right thing. Dem think say di way dem dey take to oppress Nigerians nai dem go take oppressed foreigners. Nai make if you go to the Nigerian prisons, you go confirm say na only innocent people fully there. When the American 16 lawmakers sue the government to intervene. Nigerian lawyers were saying, Nigeria is a sovereign state and nobody can oppressed them. And they even gave one example of the former lawmaker in Nigeria who dey serve jail terms in UK Ikremadu that im dey serve there too. So dem no go gree for this one. Nai dem don go remove all the charges. Lolz. Law dey pass law. Thanks for dis information. +1
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]Big man, as we dey talk now ehn, federal government don drop the charges wey dem place for the binance officials their head. This one now just show say it it agencies and agents no really know wetin dem dey do. Dem just dey confuse themselves and dey show the world how stupid dem dey take handle their cases. I dey disappointed say Na our financial crimes commission dey make this kind silly mistake every time.
If you read the online dailies wey I see this news, you go know say dem don fall hands big time and as a matter of fact, them Sonam with ill intentions to extract money in a wrong way from those guys but thank easy binance know their rights and take a bold stand to defend themselves for this matter.
You fit read here to see am for yourself.
https://www.thecable.ng/breaking-fg-drops-tax-charges-against-binance-executive/amp/
You no think say na because of the 16 Americans lawmakers wey tell Joe Biden to intervene for di illegal detention of their citizen? Nawao so dey can't do di right thing. Dem think say di way dem dey take to oppress Nigerians nai dem go take oppressed foreigners. Nai make if you go to the Nigerian prisons, you go confirm say na only innocent people fully there. When the American 16 lawmakers sue the government to intervene. Nigerian lawyers were saying, Nigeria is a sovereign state and nobody can oppressed them. And they even gave one example of the former lawmaker in Nigeria who dey serve jail terms in UK Ikremadu that im dey serve there too. So dem no go gree for this one. Nai dem don go remove all the charges. Lolz. Law dey pass law. Thanks for dis information. +1
Americans no be like Nigerians wey dem go dey maltreat their people outside the government and citizens go keep quiet and go follow dey talk anyhow.
You see as the lawmakers call their government immediately you see say dem swing into actions and them don drop the charges against their citizens wey dem hold here for prison but our own people dey for jail outside the country our government no dey reason dem no dey even shake body to look into their matters. Some years past our citizen was executed publicly for the world to see but government no talk about am. Till date nobody don hear anything about am.
I think at this moment our government should have something more than diplomats out there. If it is possible to have an international dialogue team, that would be fine. They would be in charge of dialogue for Nigerians under the custody of international government for crimes purpose. This team should be vested with the responsibility of talking their way through to making sure Nigerians are not executed or unjustly treated in their country.
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Lolz.. I see ur hand work for di 1+. I greet u specifically. and now that Nigerian government with here agencies e don removed di charges den na to release di man na because dem no get anything to hold down again. Nigerian Sec e no dey wise at all. Since when this Saga started we dey talk say let dem collect their tax and make Binance to obey the economic policies so that them go dey get money from there every month. Nigerian Sec with their empty brain destroyed everything now who lose? Dem think say dem dey do Nigeria crypto community but we dey gidigba strong like ever. Abeg let them release di man and reopen all the exchanges again.
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Snip
Lolz.. I see ur hand work for di 1+. I greet u specifically. and now that Nigerian government with here agencies e don removed di charges den na to release di man na because dem no get anything to hold down again. Nigerian Sec e no dey wise at all. Since when this Saga started we dey talk say let dem collect their tax and make Binance to obey the economic policies so that them go dey get money from there every month. Nigerian Sec with their empty brain destroyed everything now who lose? Dem think say dem dey do Nigeria crypto community but we dey gidigba strong like ever. Abeg let them release di man and reopen all the exchanges again.
Wetin dey make me laugh be say Na the small money wey dem been offer them before wey dem reject if I am not mistaken, if to say them reach soft landing with these guys and binance, dem for no lose out entirely. Atleast, small bread for enter their hand but dem think say dem wise. Shey as US government don put mouth now dem don release their citizens immediately. Make them go collect charges again na
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Wetin dey make me laugh be say Na the small money wey dem been offer them before wey dem reject if I am not mistaken, if to say them reach soft landing with these guys and binance, dem for no lose out entirely. Atleast, small bread for enter their hand but dem think say dem wise. Shey as US government don put mouth now dem don release their citizens immediately. Make them go collect charges again na
Our government and regulators do not have to be soft, but they should do what is appropriate. But the officials do not want something good than bribery. They do not want what can result to the progress of the country. See what India did and Binance got registered in India not long after. If the regulators requested all the exchanges to get registered and also give them little fine like $2 million, many of the exchanges will have office in Nigeria by now. They supposed not to arrest anyone. This shows how illiterates these people are.
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Wetin dey make me laugh be say Na the small money wey dem been offer them before wey dem reject if I am not mistaken, if to say them reach soft landing with these guys and binance, dem for no lose out entirely. Atleast, small bread for enter their hand but dem think say dem wise. Shey as US government don put mouth now dem don release their citizens immediately. Make them go collect charges again na
Our government and regulators do not have to be soft, but they should do what is appropriate. But the officials do not want something good than bribery. They do not want what can result to the progress of the country. See what India did and Binance got registered in India not long after. If the regulators requested all the exchanges to get registered and also give them little fine like $2 million, many of the exchanges will have office in Nigeria by now. They supposed not to arrest anyone. This shows how illiterates these people are.
The so-called leaders are the ones drawing this country backward because they don't do the right thing to benefit the country. Instead they are after their own pocket which is the problem that we are facing in Nigeria today. Imagine Binance Executives that came to negotiate on how they can register their exchange in the country but got arrested because the executives knows that it is inappropriate to give bribe to our government, because that has not shown any solid evidence that they can operate in Nigeria. Sometimes I wonder if these leaders know what they are doing or they are doing it purposely.
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Wetin dey make me laugh be say Na the small money wey dem been offer them before wey dem reject if I am not mistaken, if to say them reach soft landing with these guys and binance, dem for no lose out entirely. Atleast, small bread for enter their hand but dem think say dem wise. Shey as US government don put mouth now dem don release their citizens immediately. Make them go collect charges again na
Our government and regulators do not have to be soft, but they should do what is appropriate. But the officials do not want something good than bribery. They do not want what can result to the progress of the country. See what India did and Binance got registered in India not long after. If the regulators requested all the exchanges to get registered and also give them little fine like $2 million, many of the exchanges will have office in Nigeria by now. They supposed not to arrest anyone. This shows how illiterates these people are.
The so-called leaders are the ones drawing this country backward because they don't do the right thing to benefit the country. Instead they are after their own pocket which is the problem that we are facing in Nigeria today. Imagine Binance Executives that came to negotiate on how they can register their exchange in the country but got arrested because the executives knows that it is inappropriate to give bribe to our government, because that has not shown any solid evidence that they can operate in Nigeria. Sometimes I wonder if these leaders know what they are doing or they are doing it purposely.
From the unset this has been the attitude of our leaders. They are always good at looking for ways to extract cash out of anything to make sure they have a good take away package. Binance issue lingered because of this reason. I believe we all heard the story from the binance CEO himself when he was interviewed about the ongoing detention of their representative on Nigeria and he told them the reasons why they are still in custody and that they refused to bribe the officials to release their representatives.
Our leaders are just after their own personal pockets and not minding the consequences of their actions. They don't care whether Nigerians are affected by their it or not. They are just bereft of ideas to lead the nation and are more of ceremonial heads than they are called leaders.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Nigerians are still using binance, it's only that they don't have access to P2P transactions anymore, and what will make me stop using binance permanently is if binance reveals what the Nigerian High Court is seeking from them by providing all of their users data. And if Binance agree with them, I see no reason why I will return to store my coin on the exchange again because it shows that they are not to be trusted for revealing such information.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Nigerians are still using binance, it's only that they don't have access to P2P transactions anymore, and what will make me stop using binance permanently is if binance reveals what the Nigerian High Court is seeking from them by providing all of their users data. And if Binance agree with them, I see no reason why I will return to store my coin on the exchange again because it shows that they are not to be trusted for revealing such information.
But I heard tht people are still using Binance to sell their coins and I don't know how they are doing it. And if really they are still using not them when Binance came back then they would used it massively again. Make wiwo, Kingsden, come view their points.
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But I heard tht people are still using Binance to sell their coins and I don't know how they are doing it. And if really they are still using not them when Binance came back then they would used it massively again. Make wiwo, Kingsden, come view their points.
I'm hearing this for the first time, and I can't say it's not possible because when the Nigerian government started this issue with Binance, someone has said it here that no matter how they do it, Nigerians would still find their alternative to survive on this issue.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Nigerians are still using binance, it's only that they don't have access to P2P transactions anymore, and what will make me stop using binance permanently is if binance reveals what the Nigerian High Court is seeking from them by providing all of their users data. And if Binance agree with them, I see no reason why I will return to store my coin on the exchange again because it shows that they are not to be trusted for revealing such information.
But I heard tht people are still using Binance to sell their coins and I don't know how they are doing it. And if really they are still using not them when Binance came back then they would used it massively again. Make wiwo, Kingsden, come view their points.
Hmmm, Na the first time I dey hear this one oo, and it seem a bit impossible because binance has stopped all dealing with the Nigerian Naira due to the government request, just as Charles Tim said, they would have applied wisdom and ask the exchanges to pay a registration fee rather than what they did. And to my understanding they weren't actually trying to make peace or sort out issues with binance or any other exchange, but they were looking from a biased angle and accused cryptocurrency as the cause of the Naira volatility.
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Will binance return to Nigeria, i don't think so, because they have the needed global reputation and in business, if what they are giving out is more than what they are taking in, that doesn't make sense anymore because they are not going to meet up with their demands to keep running the business, that is why they would rather prefer to leave than stay, because they cant run on a loss.
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If.they understand with the government and everything.works smoothly then, I will still use their services because since they have agreed with the government to operate.without manipulating the naira then everything good.
People are still making use of Binance, Binance didn’t leave Nigeria they only just removed Naira from their platform so it can’t be traded via P2P but if you’re from Nigeria and you still want to use other services that they offer you can do it.
Your use of the term “use their service” make it sound as if they have completely left the country and don’t accept any user from this country - it would be best if you just use “p2p” so as not to confuse newbies who might get to read your post.
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If.they understand with the government and everything.works smoothly then, I will still use their services because since they have agreed with the government to operate.without manipulating the naira then everything good.
People are still making use of Binance, Binance didn’t leave Nigeria they only just removed Naira from their platform so it can’t be traded via P2P but if you’re from Nigeria and you still want to use other services that they offer you can do it.
Your use of the term “use their service” make it sound as if they have completely left the country and don’t accept any user from this country - it would be best if you just use “p2p” so as not to confuse newbies who might get to read your post.
Yes I know but they are using it for transaction and to for p2p. And I was referring to p2p that if they came back with the p2p then I will use it. And I don't know how people are still using it but someone told me that they are still selling and buying with Binance. But I only know that they are using it to make transaction from one exchange to another and to On-Chain.
As for me I can't use it for now because I only use am for p2p and nothing else. As others also said and using it
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Yes I know but they are using it for transaction and to for p2p. And I was referring to p2p that if they came back with the p2p then I will use it. And I don't know how people are still using it but someone told me that they are still selling and buying with Binance. But I only know that they are using it to make transaction from one exchange to another and to On-Chain.
As for me I can't use it for now because I only use am for p2p and nothing else. As others also said and using it
Any ways not everyone used exchange P2p the main usage for Many Nigerians is trading and sending money through crypto, this is why even though the government tithen it regulations against them, their were able to quickly hunting the P2p service since that was the point of concern for the government since their fight was against dollar Vs Naira value.
So even though Binance stopped its P2p many of the exchange users are still bringing in the volume and liquidity needed to keep the exchange running, and since Nigeria's access to the exchange was not blocked.
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And I was referring to p2p that if they came back with the p2p then I will use it. And I don't know how people are still using it but someone told me that they are still selling and buying with Binance. But I only know that they are using it to make transaction from one exchange to another and to On-Chain.
Those that are still using it right now are traders. - they are using it for spot, future trading and the rest - after trading what most of them do is to either move it to their wallet or transfer it to a different exchange and sell via p2p - they won’t be able to directly sell it in Binance (except there are ways we don’t know of yet).
The reason why most traders complained when p2p was dropped was due to the fact that the process they’ll take to sell for fiat will now be a little more difficult for them and also they’ll have to spend additional fee to transfer to where they want to sell.
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The reason why most traders complained when p2p was dropped was due to the fact that the process they’ll take to sell for fiat will now be a little more difficult for them and also they’ll have to spend additional fee to transfer to where they want to sell.
If it is bitcoin, you can use lightning network. The fee on Binance is less than $0.07. There are many P2P that are accepting bitcoin. If the amount is not very huge, you can convert it to altcoin or USDT and transfer it to the P2P exchange. If it is altcoins, most altcoins fee are cheap. If not cheap, you can convert it to stable coin and send it to the exchange. I will say ignorance will make people complain when there are many available options to go for.
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Off course, regardless of the police I continuously trade Bitcoin. There are moments of lows and highs and when it happens, I'd wait for the next action.
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And I was referring to p2p that if they came back with the p2p then I will use it. And I don't know how people are still using it but someone told me that they are still selling and buying with Binance. But I only know that they are using it to make transaction from one exchange to another and to On-Chain.
Those that are still using it right now are traders. - they are using it for spot, future trading and the rest - after trading what most of them do is to either move it to their wallet or transfer it to a different exchange and sell via p2p - they won’t be able to directly sell it in Binance (except there are ways we don’t know of yet).
The reason why most traders complained when p2p was dropped was due to the fact that the process they’ll take to sell for fiat will now be a little more difficult for them and also they’ll have to spend additional fee to transfer to where they want to sell.
You're absolutely right, investors still make use of binance irrespective of the fact that they cannot make fiat pop transactions due to the restrictions set by the government. Till date, I'm still a fan of binance, I'm absolutely used to its interface and the reputation it has acquired so far, amongst all exchanges I prefer binance to the rest and if they start working again in Nigeria, I wouldn't mind going back to using their services. Currently we have no other option than to stick to the working exchanges in our country, but that doesn't mean those exchanges which were restricted are not being used, they only delisted naira(NGN) from there trading peer and that all, one can still make use of other features.
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You're absolutely right, investors still make use of binance irrespective of the fact that they cannot make fiat pop transactions due to the restrictions set by the government.
But it is good to know that if you want to hold your coins, it is better you move the coins out of exchanges to noncustodial wallet because if it is not your key, it is not your coins. Although, there are other investments means like staking which I will also prefer to use a noncustodial wallet for instead. As for other means of investment, I prefer not to go for them.
Till date, I'm still a fan of binance, I'm absolutely used to its interface and the reputation it has acquired so far, amongst all exchanges I prefer binance to the rest and if they start working again in Nigeria, I wouldn't mind going back to using their services.
There are other exchanges with interface better like Binance. There are others that I prefer their interface than Binance. There are many exchanges that are as good as Binance.
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But it is good to know that if you want to hold your coins, it is better you move the coins out of exchanges to noncustodial wallet because if it is not your key, it is not your coins. Although, there are other investments means like staking which I will also prefer to use a noncustodial wallet for instead. As for other means of investment, I prefer not to go for them.
Normally, person no suppose to keep em coins for exchange for any reason, as the name emply just use am comet body, last the the ratio of scam on exchanges really serious and that na eye opener to everybody so that we go know say e no dey safe to keep money for there. Exchanges na one of the biggest target to hackers and if them fit get anyone down, dem don hit the jackpot be that, because no be small tin wey dem go remove for inside. E dey very good ro take precautionary measure than to try to solve the problem when e don burst, a word is enough for the wise.
With all the exchanges qey I don try so far, na binance be the best, and I love their simplicity.
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But it is good to know that if you want to hold your coins, it is better you move the coins out of exchanges to noncustodial wallet because if it is not your key, it is not your coins. Although, there are other investments means like staking which I will also prefer to use a noncustodial wallet for instead. As for other means of investment, I prefer not to go for them.
Normally, person no suppose to keep em coins for exchange for any reason, as the name emply just use am comet body, last the the ratio of scam on exchanges really serious and that na eye opener to everybody so that we go know say e no dey safe to keep money for there. Exchanges na one of the biggest target to hackers and if them fit get anyone down, dem don hit the jackpot be that, because no be small tin wey dem go remove for inside. E dey very good ro take precautionary measure than to try to solve the problem when e don burst, a word is enough for the wise.
With all the exchanges qey I don try so far, na binance be the best, and I love their simplicity.
E no ever dey advisable to keep your assets for third party exchange. Third party exchange no get security guarantee for their customers account. As of early this year, exchange suffer serious hack from hackers and so far, people lost their assets and funds which resulted to frustration and lots more.
The slogan "Not your keys not your coin" is very much active. It was formulated so that buyers more especially the newbies in the system would have knowledge about the safety of their assets. After seeing that for free, they should be able to differentiate and decipher where best to hold their assets.
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If those newbies really do their home work and learn bitcoin well before them start to hold or trade, them no supposed to get issues with wallet because for wallet security article wey I don read, them dey always state the importance of non custodial wallet as the best choice to keep your coin as a beginner or for small coins, but if you want keep really large number of coins, you are advised to use a hardware wallet, for top notch security. So any newbie wey carry strong head go keep em coin for exchange, na em sabi. Because when something go sup so, e no go fit blame anybody. Aside hack sef, some exchange dey block some accounts due to violation of rules and if your money dey inside, that on don go for life.
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There are other exchanges with interface better like Binance. There are others that I prefer their interface than Binance. There are many exchanges that are as good as Binance.
Yes, I agree that there are other exchanges that have better interface than Binance and it's also true that there are a few other exchanges similarly good as Binance but most crypto users still prefer to use Binance for trading as it's most convenient for them.
I personally use Binance for trading and or for purchasing of coins for long-term holding and so far I haven't faced any issue with them. However, I must tell that the whenever I purchase coins for long-term holding I withdraw those to my personal wallets for the sake of security.
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There are other exchanges with interface better like Binance. There are others that I prefer their interface than Binance. There are many exchanges that are as good as Binance.
Yes, I agree that there are other exchanges that have better interface than Binance and it's also true that there are a few other exchanges similarly good as Binance but most crypto users still prefer to use Binance for trading as it's most convenient for them.
I personally use Binance for trading and or for purchasing of coins for long-term holding and so far I haven't faced any issue with them. However, I must tell that the whenever I purchase coins for long-term holding I withdraw those to my personal wallets for the sake of security.
Yea, Binance is my favorite and I have a good trust on them than any other exchange which I don't know why is it like that maybe because I am use to them. I only trade and swap coins with Binance while my bitcoin for long term hodli is lying in my noncustodial wallet because that is only where it is safe. It is only traders that should keep their coins in exchanges for easy trade and not investors and hodlers.
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Yea, Binance is my favorite and I have a good trust on them than any other exchange which I don't know why is it like that maybe because I am use to them. I only trade and swap coins with Binance while my bitcoin for long term hodli is lying in my noncustodial wallet because that is only where it is safe. It is only traders that should keep their coins in exchanges for easy trade and not investors and hodlers.
I think it was the majorities favourite given that it was the leading exchange in Nigeria before the P2P ban, i miss binance a lot, I could remember they had the best rate for P2P trading, they were also customer friendly and transparent and made it easier for trading compared to other exchanges. I think you did a good job by saving holding your asset in a non-custodial wallet even though you could've just secure the exchanges you're using with a 2FA but being on a safer side, the non-custodial wallet is the best option for long-term savings of cryptocurrencies.
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Yea, Binance is my favorite and I have a good trust on them than any other exchange which I don't know why is it like that maybe because I am use to them. I only trade and swap coins with Binance while my bitcoin for long term hodli is lying in my noncustodial wallet because that is only where it is safe. It is only traders that should keep their coins in exchanges for easy trade and not investors and hodlers.
I think it was the majorities favourite given that it was the leading exchange in Nigeria before the P2P ban, i miss binance a lot, I could remember they had the best rate for P2P trading, they were also customer friendly and transparent and made it easier for trading compared to other exchanges. I think you did a good job by saving holding your asset in a non-custodial wallet even though you could've just secure the exchanges you're using with a 2FA but being on a safer side, the non-custodial wallet is the best option for long-term savings of cryptocurrencies.
Yeah, +1 Karma (your very first actually) for such a good comment, every Nigerian who have been in crypto; and have used Binance before the p2p ban on the platform will attest to the fact that Binance was simply the best of them all, I can't recount how many times I've tried to leave Binance to focus on transacting on other p2p platforms like Remitano (specially, since this is actually the very first platform I used for cashing out my very first earning from crypto through their p2p platform, followed by Luno) but I couldn't because, Binance p2p was not only fast, it was flawless and the app breezes like heavy wind, no dull moment specially if you are using a high end device.
I personally have no doubt that if Binance will reopen their p2p exchange for Nigerians again, many, if not all, will return back there, as long as they don't impose any useless fees like what kucoin have done.
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If binance returns to Nigeria, so many Nigerians will definitely resume using it, some Nigerians are still using it today, just not for p2p trading. So if Binance ever lists Naira again, i am pretty sure Nigerians will run back to it, it is the favorite for most Nigerians.
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I personally have no doubt that if Binance will reopen their p2p exchange for Nigerians again, many, if not all, will return back there, as long as they don't impose any useless fees like what kucoin have done.
I’ve fallen in love with Bybit’s P2P - in Binance there are merchants that have time limit of up to 1 hour before you can cancel your trade (if they decide not to go on with it) but in Bybit the maximum have seen so far is 30 minutes - so even if the merchant misbehaves you won’t have to wait for a whole 1 hour before the trade cancellation. I might continue using bybit even if Binance comes back again.
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I personally have no doubt that if Binance will reopen their p2p exchange for Nigerians again, many, if not all, will return back there, as long as they don't impose any useless fees like what kucoin have done.
I’ve fallen in love with Bybit’s P2P - in Binance there are merchants that have time limit of up to 1 hour before you can cancel your trade (if they decide not to go on with it) but in Bybit the maximum have seen so far is 30 minutes - so even if the merchant misbehaves you won’t have to wait for a whole 1 hour before the trade cancellation. I might continue using bybit even if Binance comes back again.
I don't like Bybit because of their fake ads and not being serious to do business. You will click on different ads and might still not have the right trader that you will trade with. You will end up wasting your time before you can make a trade. It sucks and very annoying when I am using Bybit. I prefer Bitget than Bybit because their p2p Naira trade is fast and sharp but I don't think that you can cancel the order that you made.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
There's a chance that binance might return to Nigeria. But then our government might have to let go of their grudge with the p2p market. I still use binance up till now for some other trading services they offer. When I need to remove funds I just send them using usdt or other crypto pairs to bybit for conversion to naira. But then I know very well that Nigerians will be very glad to welcome back binance in the future as they offer easy to use services compared to other centralized exchanges out their.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
There's a chance that binance might return to Nigeria. But then our government might have to let go of their grudge with the p2p market. I still use binance up till now for some other trading services they offer. When I need to remove funds I just send them using usdt or other crypto pairs to bybit for conversion to naira. But then I know very well that Nigerians will be very glad to welcome back binance in the future as they offer easy to use services compared to other centralized exchanges out their.
Binance is a very nice exchange and I love using it for various activities such as day trading and scalping it's really helpful and easy to use because it's user friendly, what I mostly like from Binance is that their kyc is very easy to go. Unlike other exchange that took time to verify their customers and many of them hardly verify people with their NIN or BVN since is the easiest way of our verification.
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If binance returns to Nigeria, so many Nigerians will definitely resume using it, some Nigerians are still using it today, just not for p2p trading. So if Binance ever lists Naira again, i am pretty sure Nigerians will run back to it, it is the favorite for most Nigerians.
No doubt all you have said. Majority of Nigerians are kind of used to trading with binance as it is one of the most popular platform in the country and they have a good reputation already built. Not only that, Let me just say this that binance made their platform so easy as ABC that their p2p can be very much easier to navigate through. Very much self explanatory that even the least person on Crypto space can use it without much supervision.
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I like how India dealt with these exchanges, unlike what Nigeria did. Binance later negotiated to pay $2 million fine to get registered in India.
Back to the discussion. I have many exchanges that I am using. It will just be like how I was before, before Binance banned P2P transactions for Nigerians.
Worth to know that Nigerians are still making use of Binance through the mobile app. Only the P2P is what we do not have access to.
Personally I don't think what the Nigerian government did to binance was necessary. Of course majority of infact almost all exchanges or transactions carried out on these exchanges are done or valued in dollar. That to me doesn't necessarily mean that it's the reason for the constant devaluation of Naira for a very long time now. I think the government just did what they felt like doing rather than looking into the bigger problem.
I think the biggest factor that resulted in the devaluation of Naira was our dependence on imported products now this is a problem because majority of those exchanges are done in dollar thus appreciating Dollar and devaluing Nsira
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Binance as a top crypto exchange platform available to Nigerians haven’t lost its prestige even when the government policies is not allowing the exchange to thrive well in the country as the government have shown that they’re against anything cryptocurrency in the country. The depreciation of Naira at that time was blamed on binance and had to do some arrest of their officials at the time. Because of that, they stopped their p2p services on their platform for Nigerians but every other services is still available for Nigerians to interact with they platform. A new government that shows interest in crypto will definitely make citizens to get back on it even those that have not yet engaged in anything cryptocurrency before.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Binance as a top crypto exchange platform available to Nigerians haven’t lost its prestige even when the government policies is not allowing the exchange to thrive well in the country as the government have shown that they’re against anything cryptocurrency in the country. The depreciation of Naira at that time was blamed on binance and had to do some arrest of their officials at the time. Because of that, they stopped their p2p services on their platform for Nigerians but every other services is still available for Nigerians to interact with they platform. A new government that shows interest in crypto will definitely make citizens to get back on it even those that have not yet engaged in anything cryptocurrency before.
Indeed, many citizens of Nigeria still consider Binance as their primary source to participate in the crypto market while paying their attention to the regulation problems arisen. When the previous government aligned the Naira and cryptocurrency trading and put restrictions on the later, Binance, for instance, ceased offering P2P trading to Nigerian users but other services were available. This means that Binance is willing to adapt its business model to and with the regulations whilst not fully removing itself from the Nigerian market. If the new government reveals itself friendly to crypto then it would attract many long time users of the present platform and more people wishing to invest and trade in cryptocurrencies. Better policies can create even more prospects for Binance as well as make cryptocurrencies more accessible to the Nigerians.
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Some sanctions and policies do not always stay the same for long, they can change while a government is still in power, or when they pass power on to a new government. I think that Binance will be back to Nigeria, and when they come back, how willing do you think Nigerians who are into cryptocurrency will be to return back to them for exchange services?
Binance as a top crypto exchange platform available to Nigerians haven’t lost its prestige even when the government policies is not allowing the exchange to thrive well in the country as the government have shown that they’re against anything cryptocurrency in the country. The depreciation of Naira at that time was blamed on binance and had to do some arrest of their officials at the time. Because of that, they stopped their p2p services on their platform for Nigerians but every other services is still available for Nigerians to interact with they platform. A new government that shows interest in crypto will definitely make citizens to get back on it even those that have not yet engaged in anything cryptocurrency before.
Indeed, many citizens of Nigeria still consider Binance as their primary source to participate in the crypto market while paying their attention to the regulation problems arisen. When the previous government aligned the Naira and cryptocurrency trading and put restrictions on the later, Binance, for instance, ceased offering P2P trading to Nigerian users but other services were available. This means that Binance is willing to adapt its business model to and with the regulations whilst not fully removing itself from the Nigerian market. If the new government reveals itself friendly to crypto then it would attract many long time users of the present platform and more people wishing to invest and trade in cryptocurrencies. Better policies can create even more prospects for Binance as well as make cryptocurrencies more accessible to the Nigerians.
As it is now, Binance is still popular among Nigerian users because, although they have had to tweak some of their offerings due to Nigerian legislation concerning cryptocurrency and the Naira. The continued stance that Binance has adopted in Naira, retaining an avowed non-P2P service denoting its interest in the Nigerian market and the ability to adapt and evolve if invited in with more open arms in the future. In this way, with the creation of the new government, more people will get an opportunity to work with cryptocurrencies safely, which may lead to the increase of demand on the market and obtaining of more significant revenues for citizens. Those favourable policies will also expand the general financial inclusion in Nigeria and thereby expand chances of future advancement for crypto technology both for users and Binance as a firm.