Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Igebotz on May 02, 2024, 12:59:12 AM
-
Another Naira speculator and manipulated is here on OKX- these are one of our problem and why OKX and other exchanges needs to moderate the Naira p2p from Marchants like this. This is outrageous, the current rate is still between N1250 -N1350 and this guy is already selling at N1500, this will no doubt push others to increase their rate to meet demand. OKX might be another target is this continues.... Na we be our own problem Las Las.
(https://talkimg.com/images/2024/05/01/rIXc3.jpeg)
-
@igebotz I have experienced something like this before on OKX exchange although I didn't go clicked on it because I know is just a market manipulation so, when you click to buy NGN it would automatically change to the original price, so it is like price tempting and if you are selling and mistakenly send payment to them then you are gone. In fact lemme say they are scammers so while dealing with them you need to be very careful otherwise your money is gone.
-
@igebotz I have experienced something like this before on OKX exchange although I didn't go clicked on it because I know is just a market manipulation so, when you click to buy NGN it would automatically change to the original price, so it is like price tempting and if you are selling and mistakenly send payment to them then you are gone. In fact lemme say they are scammers so while dealing with them you need to be very careful otherwise your money is gone.
Yes it's obvious looking at his success rate he's obviously manipulating the system. Scammers like this nain dey cause the government to take nasty actions wey go affect innocent legitimate business users
-
@igebotz I have experienced something like this before on OKX exchange although I didn't go clicked on it because I know is just a market manipulation so, when you click to buy NGN it would automatically change to the original price, so it is like price tempting and if you are selling and mistakenly send payment to them then you are gone. In fact lemme say they are scammers so while dealing with them you need to be very careful otherwise your money is gone.
Yes it's obvious looking at his success rate he's obviously manipulating the system. Scammers like this nain dey cause the government to take nasty actions wey go affect innocent legitimate business users
The manipulation is much and I think this same thing is what happened with Binance as of them, I have also came across where someone set a very higher price of sell order causing the price to quickly surge to what we don't understand, when they see this price increasing uncontrollably it gradually affects other exchanges this is the results why Government started putting eyes on Binance exchange.
-
Yes it's obvious looking at his success rate he's obviously manipulating the system. Scammers like this nain dey cause the government to take nasty actions wey go affect innocent legitimate business users
Sorry to ask, but who will be gaining from this type of trade? Is it the merchant who has that price or the person selling to him? Because from the screenshot above it seem to me like those who wants to sell their coin will be the ones profiting from that increased rate.
I also went to KuCoin to scope around and it seems like they are beginning to spread it to other exchanges as well - I saw some merchants listing sells ads at 1480 per dollar and their minimum trade is just 50k unlike the 7 million in Op.
I don’t know their aim for doing this, but it’s certainly not something good.
-
Yes it's obvious looking at his success rate he's obviously manipulating the system. Scammers like this nain dey cause the government to take nasty actions wey go affect innocent legitimate business users
Sorry to ask, but who will be gaining from this type of trade? Is it the merchant who has that price or the person selling to him? Because from the screenshot above it seem to me like those who wants to sell their coin will be the ones profiting from that increased rate.
I also went to KuCoin to scope around and it seems like they are beginning to spread it to other exchanges as well - I saw some merchants listing sells ads at 1480 per dollar and their minimum trade is just 50k unlike the 7 million in Op.
I don’t know their aim for doing this, but it’s certainly not something good.
These are fake rates and the moment you click to transaction the rate changes without you knowing, these are Marchants who create unnecessary pressure to the black market rate.
-
These are fake rates and the moment you click to transaction the rate changes without you knowing, these are Marchants who create unnecessary pressure to the black market rate.
Ooh now I see. It reminds me of a thread I create in the past about merchants using this method to scam those that are not observant in KuCoin - I guess they have moved their madness to other exchanges as well.
Becareful when using p2p (https://www.altcoinstalks.com/index.php?topic=319186.0)
-
Another Naira speculator and manipulated is here on OKX- these are one of our problem and why OKX and other exchanges needs to moderate the Naira p2p from Marchants like this. This is outrageous, the current rate is still between N1250 -N1350 and this guy is already selling at N1500, this will no doubt push others to increase their rate to meet demand. OKX might be another target is this continues.... Na we be our own problem Las Las.
https://talkimg.com/images/2024/05/01/rIXc3.jpeg
He is not selling but buying, that is, the dude is buying dollars at the rate of #1510 per $1, is this really an issue?
If he is willing to pay #1510 to buy the dollar when others are buying same dollar at #1350 or there about, don't you think thats his business and cup of tea? Market is all about competition, and in the p2p market, the better offers stays at the top, maybe this dude wants to buy as much dollar as possible at that rate because he believes the dollar will rise even much more than that, allow him, it's his risk and loss if eventually dollar fail to reach that amount again.
-
Even Kucoin too us manipulating the naira and I noticed that last week when I was trying to sell some unit of bitcoin and the first 5 vendors are not genuine and their price tags is very high to attract people to click them to buy or sell. Some them Buying from 12+ millions for one bitcoin which in reality one bitcoin is about 82+ millions and you can dat one from the image.
(https://www.talkimg.com/images/2024/05/02/rkDFD.jpeg)
And the worst part is when place the order them no go pay sef. But just to attract sellers to them selves.
-
Another Naira speculator and manipulated is here on OKX- these are one of our problem and why OKX and other exchanges needs to moderate the Naira p2p from Marchants like this. This is outrageous, the current rate is still between N1250 -N1350 and this guy is already selling at N1500, this will no doubt push others to increase their rate to meet demand. OKX might be another target is this continues.... Na we be our own problem Las Las.
(https://talkimg.com/images/2024/05/01/rIXc3.jpeg)
It is not only in OKX, I will say other exchanges too have this kind of fake ass people that love manipulating the dollar price. What I have observe is that, if you click on their offer, they will not trade with you or they will renegotiate the price and pay you lesser than what is on their price.
Take a look at this merchant from Kucoin exchange rate, it is similar.
(https://talkimg.com/images/2024/05/03/rfEBq.jpeg)
-
Another Naira speculator and manipulated is here on OKX- these are one of our problem and why OKX and other exchanges needs to moderate the Naira p2p from Marchants like this. This is outrageous, the current rate is still between N1250 -N1350 and this guy is already selling at N1500, this will no doubt push others to increase their rate to meet demand. OKX might be another target is this continues.... Na we be our own problem Las Las.
These speculators will move to other exchanges and if the government keep clamping down on them, we may no longer have an exchange to exchange our cryptocurrency to naira. The naira speculators contribute to the devaluation of our currency, but are they the only cause, our government are a part of it as well because if the economy is very good and everything is stable, there is no way speculators will be able to fix ridiculous prices as exchange rates.
-
And the worst part is when place the order them no go pay sef. But just to attract sellers to them selves.
Later on they’ll send you message that if you want them to continue the trade that they’ll have to reduce the rate that their rate is too high compared to others - I have encountered them several times and sometimes they’ll want to reduce the rate from 1,300 to 1,200 if not you’ll have to wait for the timer to end (which is usually up to an hour).
There are so many ways that exchanges have to work, in order to help minimize losses in p2p because newbies are definitely going to be hurt in this scheme of theirs.
-
Another Naira speculator and manipulated is here on OKX- these are one of our problem and why OKX and other exchanges needs to moderate the Naira p2p from Marchants like this. This is outrageous, the current rate is still between N1250 -N1350 and this guy is already selling at N1500, this will no doubt push others to increase their rate to meet demand. OKX might be another target is this continues.... Na we be our own problem Las Las.
(https://talkimg.com/images/2024/05/01/rIXc3.jpeg)
I greet you specially sir and also congratulations on your new appointment as the lead head of our very own platform on top of the oda ama mata aka btt. Your appointment is a well deserved one and I pray you take the board to a new level of operation.
So far, I have noticed that price manipulation on some other exchange platform where I do trade my coin. One thing I found about it is that when it is time to place order, the price drops automatically below the initial advertised price which makes it fishy and fraudulent.
The other thought on my mind is that EFCC agents have been recruited to infiltrate these exchange platforms to pick accounts of Crypto traders dealing on crypto currencies. Some days ago, I received a circular from a friend which contains some names of supposed EFCC agents on one of the exchanges trading and finding account to victimise.
All I can say is that we ought to be very much careful and not carried away by the price we see online when ever we are on the verge of selling our coin for fiat via p2p platforms.
-
The other thought on my mind is that EFCC agents have been recruited to infiltrate these exchange platforms to pick accounts of Crypto traders dealing on crypto currencies. Some days ago, I received a circular from a friend which contains some names of supposed EFCC agents on one of the exchanges trading and finding account to victimise.
All I can say is that we ought to be very much careful and not carried away by the price we see online when ever we are on the verge of selling our coin for fiat via p2p platforms.
If this is true then it means that both small traders and big traders will be in trouble for being involved in crypto - but wetin I nor really get be say, why dem Dey even bother boys wey Dey crypto? Small thing wey boys take Dey sustain for the country nah dem wan chock their ugly head put.
Instead of going to through this means won’t it be better for them to just settle things with the exchange and look for how to regulate the Dollar/Naira rate? I’m sure most of them that will be involved in this will just do it because of what they’ll be able to scoop out for themselves not because of government work.
-
And the worst part is when place the order them no go pay sef. But just to attract sellers to them selves.
Later on they’ll send you message that if you want them to continue the trade that they’ll have to reduce the rate that their rate is too high compared to others - I have encountered them several times and sometimes they’ll want to reduce the rate from 1,300 to 1,200 if not you’ll have to wait for the timer to end (which is usually up to an hour).
There are so many ways that exchanges have to work, in order to help minimize losses in p2p because newbies are definitely going to be hurt in this scheme of theirs.
I am just happy that, I have seen another person that has the same experience with me. I have been suffering this guys that manipulate the naira in Binance from the first day of my visit to the exchange when I was about to sell NGN200k and the vendor say the price wey him put e dey high so him go reduce the pay. So we come dey negotiate oh but finally I no come gree. Na so we leave the trade me sef I look for another vendor and sell ma coins. And this same thing happened to me again in OKX last month. And di worse of them ll na di Kucoin. FG needs to ban dat exchange automatically because di kind of fraudsters wey dey there e too plenty.
-
The other thought on my mind is that EFCC agents have been recruited to infiltrate these exchange platforms to pick accounts of Crypto traders dealing on crypto currencies. Some days ago, I received a circular from a friend which contains some names of supposed EFCC agents on one of the exchanges trading and finding account to victimise.
All I can say is that we ought to be very much careful and not carried away by the price we see online when ever we are on the verge of selling our coin for fiat via p2p platforms.
Instead of going to through this means won’t it be better for them to just settle things with the exchange and look for how to regulate the Dollar/Naira rate? I’m sure most of them that will be involved in this will just do it because of what they’ll be able to scoop out for themselves not because of government work.
Padi this thing you talk Na true o. This wan go turn another hustle for this eagle boys them for we country. Them fit take the mola wey dey there take forget say na government work dem dey do begin chase new hustle there dey hunt for men dem.
Looking at the regulatory aspect of it and the current rift raft with binance, I think the government don't want to cautiously handle crypto situations amicably in the country , they want it in a forceful way to fully control everything which is not possible hence their Banta with binance.
-
Like sometime if i start dey think about this country's problem the conclusion is we are our own problem, if not that why will this guy be sell at such amount and he's not regulated, that why me self they alway get like 5 exchanges nah to start they check bitget P2P oo
-
Looking at the regulatory aspect of it and the current rift raft with binance, I think the government don't want to cautiously handle crypto situations amicably in the country , they want it in a forceful way to fully control everything which is not possible hence their Banta with binance.
US sued Binance, Nigeria government officials told Nigerians to avoid Binance. US fined Binance and CZ, Nigeria government took hostage of two Binance executives and preparing to fine Binance also. Copycat. They are all illiterates for what they did. Can't they see other countries like India and Philippines? Nigeria government believe in wrong ways that they think are right. I have not seen people so illiterate like them. That is why the country is not moving forward.
-
Looking at the regulatory aspect of it and the current rift raft with binance, I think the government don't want to cautiously handle crypto situations amicably in the country , they want it in a forceful way to fully control everything which is not possible hence their Banta with binance.
US sued Binance, Nigeria government officials told Nigerians to avoid Binance. US fined Binance and CZ, Nigeria government took hostage of two Binance executives and preparing to fine Binance also. Copycat. They are all illiterates for what they did. Can't they see other countries like India and Philippines? Nigeria government believe in wrong ways that they think are right. I have not seen people so illiterate like them. That is why the country is not moving forward.
Nigeria sef na wa. The country too like apian way naim make things dey dagbaru any how for the country. Looking at the binance saga, I am seeing it as though Nigeria government wants their own share of the cake as it is that binance is the world richest Crypto exchange and have made a lot of money from trading and other fees which involves their services.
As CZ is going for his jail term, likely their representative who fled from the prison might also serve his own terms too. Only God knows what and how the case would be like and the charges to be passed against the representative.
-
Nigeria sef na wa. The country too like apian way naim make things dey dagbaru any how for the country. Looking at the binance saga, I am seeing it as though Nigeria government wants their own share of the cake as it is that binance is the world richest Crypto exchange and have made a lot of money from trading and other fees which involves their services.
As CZ is going for his jail term, likely their representative who fled from the prison might also serve his own terms too. Only God knows what and how the case would be like and the charges to be passed against the representative.
Yes the government wanted to take money from them and that was why they asked Binance 10 millions/billions fine but the government used wrong approach to deal with them. They would have allowed Binance to operate and regulate their economic policies and asked Binance to follow up but instead they used gra gra way so Binance has to leave the country for them, and right now they have made OKX to removed p2p and before we know Kucoin sef go stop p2p and others go follow and finally na decentralized exchanges and di original p2p we go dey use. Five months jail terms in reality na 3 months and when he comes out him go with dem indirectly from House.
-
US sued Binance, Nigeria government officials told Nigerians to avoid Binance. US fined Binance and CZ, Nigeria government took hostage of two Binance executives and preparing to fine Binance also. Copycat. They are all illiterates for what they did. Can't they see other countries like India and Philippines? Nigeria government believe in wrong ways that they think are right. I have not seen people so illiterate like them. That is why the country is not moving forward.
Well you won't blame them but sometimes things happens for something to happened, if that US didn't took their action we would had seen Nigerian government acted this way towards Binance but believe me or not it's a wrong approach to follow the whole matter. They could have settled this amicably with Binance and allows youth to hustle through their maybe binance could had been paying task either by quarterly or annually based on their alignments. But instead they went on the wrong way whereby Binance has to ceased their operation in Nigeria, who lose now?
Although Binance lose and also we lose as well because they youth will be left with no option than to do illegal things to sustain that is why street work is increasing every day by day.
-
They could have settled this amicably with Binance and allows youth to hustle through their maybe binance could had been paying task either by quarterly or annually based on their alignments. But instead they went on the wrong way whereby Binance has to ceased their operation in Nigeria, who lose now?
Not that Binance will only pay tax, we Nigerians also have some tax to pay. I mean the 10% capital gain tax. For P2P traders that will not pay the 10% capital gain tax, something small like $0.05 dollar can be charged for each transaction. That is almost 68 naira for every transaction. There are ways they can make money from Nigerians but Tinubu appointed those that did not see the potential means of internally generated revenue from crypto exchanges but instead acting like illiterates. The government are losing but they did not know.
-
And the worst part is when place the order them no go pay sef. But just to attract sellers to them selves.
Later on they’ll send you message that if you want them to continue the trade that they’ll have to reduce the rate that their rate is too high compared to others - I have encountered them several times and sometimes they’ll want to reduce the rate from 1,300 to 1,200 if not you’ll have to wait for the timer to end (which is usually up to an hour).
There are so many ways that exchanges have to work, in order to help minimize losses in p2p because newbies are definitely going to be hurt in this scheme of theirs.
I am just happy that, I have seen another person that has the same experience with me. I have been suffering this guys that manipulate the naira in Binance from the first day of my visit to the exchange when I was about to sell NGN200k and the vendor say the price wey him put e dey high so him go reduce the pay. So we come dey negotiate oh but finally I no come gree. Na so we leave the trade me sef I look for another vendor and sell ma coins. And this same thing happened to me again in OKX last month. And di worse of them ll na di Kucoin. FG needs to ban dat exchange automatically because di kind of fraudsters wey dey there e too plenty.
Nowadays there are scammers from Binance to OKX, not sure why they have not taken action before. But I didn't use them afterwards. Since there are still good p2p alternatives, Bitget is the one I have been using for p2p without any issues since the merchants are quite reliable and quite trusted too. You can use that one for moving forward.
Hopefully things get straightened out in Nigerian crypto space soon though. I don't know what they achieve by pulling this off. They just talk about money and money
-
Like sometime if i start dey think about this country's problem the conclusion is we are our own problem, if not that why will this guy be sell at such amount and he's not regulated, that why me self they alway get like 5 exchanges nah to start they check bitget P2P oo
True, I think their merchant are also decent cos I've used them before( and I've not experienced any abnormal rate hike). Their rensponse time is also really fast. No reason to look elsewhere for me..
-
Looking at the regulatory aspect of it and the current rift raft with binance, I think the government don't want to cautiously handle crypto situations amicably in the country , they want it in a forceful way to fully control everything which is not possible hence their Banta with binance.
US sued Binance, Nigeria government officials told Nigerians to avoid Binance. US fined Binance and CZ, Nigeria government took hostage of two Binance executives and preparing to fine Binance also. Copycat. They are all illiterates for what they did. Can't they see other countries like India and Philippines? Nigeria government believe in wrong ways that they think are right. I have not seen people so illiterate like them. That is why the country is not moving forward.
The wrong people with no knowledge are the ones fighting and entering into power, while the brilliant and smart ones are not given the opportunity to be leaders. It is only in Nigeria that illetrates with zero knowledge rules a learned person. How this country won come better. All these things na e make the government dey envy youths say we sharp pass them. During their own time na government take care of them, but now the government won even steal or take away the small one wey we get for ourselves.
-
The wrong people with no knowledge are the ones fighting and entering into power, while the brilliant and smart ones are not given the opportunity to be leaders. It is only in Nigeria that illetrates with zero knowledge rules a learned person. How this country won come better. All these things na e make the government dey envy youths say we sharp pass them. During their own time na government take care of them, but now the government won even steal or take away the small one wey we get for ourselves.
Sincerely the youth are too weak and we don't exercised our rights and this is making us backwards if we try to rise this same people would hinder themselves and not us, but the thing is they have taken place all position and not even allowing the youth to come in at least to raise a standard for us. What this old wanna do is to make place comfortable for themselves just like a retirement home whereby they would be earning some allocations from every sections of the country even without them having to go broke again in their lives. Could you track back all the records of our Ex-Presidents and Governor's?
-
Looking at the regulatory aspect of it and the current rift raft with binance, I think the government don't want to cautiously handle crypto situations amicably in the country , they want it in a forceful way to fully control everything which is not possible hence their Banta with binance.
US sued Binance, Nigeria government officials told Nigerians to avoid Binance. US fined Binance and CZ, Nigeria government took hostage of two Binance executives and preparing to fine Binance also. Copycat. They are all illiterates for what they did. Can't they see other countries like India and Philippines? Nigeria government believe in wrong ways that they think are right. I have not seen people so illiterate like them. That is why the country is not moving forward.
The wrong people with no knowledge are the ones fighting and entering into power, while the brilliant and smart ones are not given the opportunity to be leaders. It is only in Nigeria that illetrates with zero knowledge rules a learned person. How this country won come better. All these things na e make the government dey envy youths say we sharp pass them. During their own time na government take care of them, but now the government won even steal or take away the small one wey we get for ourselves.
I have come to realise that an average Nigerian is more knowledgeable than the political class. Not only that the average Nigerians have no time clamouring for power because they can survive the weather irrespective of whatever happens. They are up and doing with genuine intentions of making the best out of nothing. Little wonder Nigerians are always making waves wherever they find themselves in any part of the world.
I said this in one of my post on the other platform and I believe that is amongst one of the major reasons why the clamp on Crypto is getting more intensed. Have you noticed it that the youths no longer take interest in elections going by the last general elections. It is unlike the Nigeria youths that would sing praises of the politicians carrying their placards to hail them all about but this time nobody has that time again to do that and it looks like the youths are now fully empowered by themselves which made the political class curious and they discovered it to be crypto currency tradings and they decided to dive into it to frustrate themselves not us. They failed to stabilise the economic because they are bereft of ideas to do but rather they are busy fighting Crypto just to while away time while wrestling with themselves to control power and their epileptic economy.