Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Smcchamp on July 16, 2024, 04:40:22 PM
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Good day everyone. How trading dey go?
Who' else has noticed this news about OKX leaving Nigerian market. It's trending on twitter..
(https://i.ibb.co/nQnFM2T/20240716-153753.jpg) (https://ibb.co/zP7zVc1)
(https://imgbb.com/)
(https://i.ibb.co/hVzvvNj/Screenshot-2024-07-16-15-39-01-18-0b2fce7a16bf2b728d6ffa28c8d60efb.jpg) (https://ibb.co/YhsGGSM)
(https://imgbb.com/)
How una reason this thing?
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This is very true. It is likely that Nigerian government wants exchanges to be paying VAT and also giving some conditions that may not favour the exchange like to register and have office in Nigeria so that the exchanges would b well regulated. But it is surprising that OKX is leaving Nigeria.
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You must not have been updated then because OKX has long delisted naira P2P from its trading exchange since earlier this year following after Binance exchange too delisted naira from its P2P feature.
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You must not have been updated then because OKX has long delisted naira P2P from its trading exchange since earlier this year following after Binance exchange too delisted naira from its P2P feature.
This time it’s not just only p2p but their entire service - okx is leaving Nigeria as a whole and citizens won’t be allowed to use their services again including spot trading or future trading and anyone found using it that’s a Nigerian citizen will lose their money as the account might be blocked.
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It has been long I used OKX and I have already uninstalled the app from my devices so they leaving the country with everything will not have any impact on me again and many people are also like me though it was one of the best exchanges in the country. Those are some of the crypto companies that do not take or like nonsense from government so instead of staying here to see the government nonsense regulations, and they can't implement them to their customers instead they have to leave to have peace of mind. I think Kucoin is accepting the VAT and I don't know if dem don start because I am not using it is since there is no p2p. So nothing I dey go there dey fine dey pay VAT with them.
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Good day everyone. How trading dey go?
Who' else has noticed this news about OKX leaving Nigerian market. It's trending on twitter..
(https://i.ibb.co/nQnFM2T/20240716-153753.jpg) (https://ibb.co/zP7zVc1)
(https://imgbb.com/)
(https://i.ibb.co/hVzvvNj/Screenshot-2024-07-16-15-39-01-18-0b2fce7a16bf2b728d6ffa28c8d60efb.jpg) (https://ibb.co/YhsGGSM)
(https://imgbb.com/)
How una reason this thing?
I have long saw this happening after they removed NGN from their P2P. This current trend will welcome the mass encouragement of using wallet than centralized exchange. I currently using Bitget for P2P and trading while pivate wallet has my attention now.
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I came across this news yesterday on Twitter, and being a very active user of okx exchange, I immediately reach out to their customer care to confirm if it's true, and behold, the customer care confirmed to me that it's true that they are leaving the Nigerian market beginning from August 30th.
It's a very unfortunate development for many of us, specially like myself because I personally love to use okx, if not for any thing, they are to me the exchange with the lowest withdrawal fees for most coins and tokens, there are times I usually send coins there just to switch the coin from it's initial blockchain to another, I withdraw using another blockchain and pay a very small withdrawal fee when other exchanges, including Binance are charging exorbitantly.
Anyways, i honestly do not blame them though, this present government have literally made it difficult for several businesses to do business with Nigerians, it's very painful to be honest.
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I have only used the OKX exchange once and for some personal reasons I stopped using it after they delisted Naira p2p from their exchange but I know that this will affect users that have built their trust on OKX. There are other exchanges in the country that one can switch to if this exit of OKX is bad news to you. I don't know what is going on with our government and the exchange regulations if the conditions are too harsh for them to cope with in Nigeria.
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::/::
I don't know what is going on with our government and the exchange regulations if the conditions are too harsh for them to cope with in Nigeria.
That’s what you get when animals are placed on power - very soon you’ll see more companies fleeing from Nigeria just because the place is becoming more unbearable for them.
Other exchanges might not follow but if you check you’ll see that this is not only in the crypto sector - the pharmaceutical industry is currently facing this issue; GlaxoSmithKline (GSK) which has helped produced some of the best pharmacists in terms of practice has left Nigeria and very soon many other country will follow when they discover that there are no longer generating revenue from the country and the government which was supposed to be active has turned his attention to useless stuff like creating a new state.
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Does their seize of operation affects you or me?
To it cost no harm because I never traded in this exchange neither have I used their p2p it was very actively open for Nigerian so if they like they should stop and lock off every single Nigerian it wouldn't affect me, provided that I have no asset there except for our fellow Nigerian who have their asset stored in that exchange could do as much as possible to get off their asset in that exchange.
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You must not have been updated then because OKX has long delisted naira P2P from its trading exchange since earlier this year following after Binance exchange too delisted naira from its P2P feature.
I know that. But they're leaving Nigerian market entirely..
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Good day everyone. How trading dey go?
Who' else has noticed this news about OKX leaving Nigerian market. It's trending on twitter..
(https://i.ibb.co/nQnFM2T/20240716-153753.jpg) (https://ibb.co/zP7zVc1)
(https://imgbb.com/)
(https://i.ibb.co/hVzvvNj/Screenshot-2024-07-16-15-39-01-18-0b2fce7a16bf2b728d6ffa28c8d60efb.jpg) (https://ibb.co/YhsGGSM)
(https://imgbb.com/)
How una reason this thing?
I have long saw this happening after they removed NGN from their P2P. This current trend will welcome the mass encouragement of using wallet than centralized exchange. I currently using Bitget for P2P and trading while pivate wallet has my attention now.
That's a valid point. Moving to dex wallet fully is an option but cex still plays a vital role. I use BG too though so wasn't affected by OKX leaving Nigeria and I've been impressed by their service, but it'll be a blow to the Nigeria crypto community. What can be done?
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I have long saw this happening after they removed NGN from their P2P. This current trend will welcome the mass encouragement of using wallet than centralized exchange. I currently using Bitget for P2P and trading while pivate wallet has my attention now.
I believe you ain’t saving the use of wallet to trade spots and future? But for storing their coins?
It’s already been echoed around the internet that those using cex to store their coins should stop it and make it an habit to store their coins in a noncustodial wallet - using centralized exchange to store will only lead to you losing your money in situations when they shutdown due to unforeseen circumstances just like FTX collapse.
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I have long saw this happening after they removed NGN from their P2P. This current trend will welcome the mass encouragement of using wallet than centralized exchange. I currently using Bitget for P2P and trading while pivate wallet has my attention now.
I believe you ain’t saving the use of wallet to trade spots and future? But for storing their coins?
It’s already been echoed around the internet that those using cex to store their coins should stop it and make it an habit to store their coins in a noncustodial wallet - using centralized exchange to store will only lead to you losing your money in situations when they shutdown due to unforeseen circumstances just like FTX collapse.
Mate they're still cex without a hack history & are transparent with their protection funds monthly. I know most users don't trust cex but I think we should give kudos to the platforms for doing exceptionally well. Even dex can be hacked. We've seen a lot of situations like this. So I'll advise to be careful
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It’s already been echoed around the internet that those using cex to store their coins should stop it and make it an habit to store their coins in a noncustodial wallet - using centralized exchange to store will only lead to you losing your money in situations when they shutdown due to unforeseen circumstances just like FTX collapse.
Regulatory laws are constantly changing, and if you left your currencies on a platform for 6 months, the laws may have changed and the citizens of your country may be prevented from using them at that time. If you are not able to withdraw in a timely manner, you may lose your investments.
crypto exchanges are designed for trading, and you should not leave them with a balance greater than the trading balance.
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Mate they're still cex without a hack history & are transparent with their protection funds monthly. I know most users don't trust cex but I think we should give kudos to the platforms for doing exceptionally well. Even dex can be hacked. We've seen a lot of situations like this. So I'll advise to be careful
I never mentioned “dex” I said “non-custodial wallet”.
I believe you’ve heard the phrase “Not Your Key Not Your Coins” - if you keep your coins in Cex it actually means you no longer have control over that coin during that period of time and they can decide to do whatever they like with it and just keep displaying some digits on your account balance so as not to cause you to panic, but in the case of non-custodial wallet only you have control over the coin even the developers of the wallet you are using won’t be able to access your account (depending on how the private keys were generated and also if there’s no backdoor in the software).
Use Cex or Dex (anyone you prefer) if you want to trade but if you’re planning on storing your coin for a long time then go with Non-Custodial wallet.
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The departure of all these prominent organizations and exchanges are what the government should consider as not a better improvement on the current economy of the country because many of the youths in the country make use of these platforms to make a living, not only that, it could have been what the government would have liaised with the exchanges for the tax rate and they all come into consensus than departing for making business.
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How una reason this thing?
I expected it, so I am not surprised because, after Binance left, it prepared my mind to know that any other exchange could follow. Am I worried? No. Do I think this will affect other Nigerians? No, and the reason is because we will just find alternatives and continue with crypto. Like I told someone the other day, in Nigeria, cryptocurrency has become too known to be forgotten or abandoned so easily.
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I expected it, so I am not surprised because, after Binance left, it prepared my mind to know that any other exchange could follow.
Binance is still providing crypto products and services to Nigerians. Only naira P2P was removed. Only OKX is planning to leave and it is the first among the exchanges. Let us hope that other exchanges will not follow.
Am I worried? No. Do I think this will affect other Nigerians? No, and the reason is because we will just find alternatives and continue with crypto. Like I told someone the other day, in Nigeria, cryptocurrency has become too known to be forgotten or abandoned so easily.
Kucoin began VAT but OKX left instead. If it is VAT that caused OKX to leave, I guess most other exchanges will stay.
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I think reminder was sent to many of the OKX users today to withdraw or transfer their assets in the exchange platform. They are leaving because of the policies of the government and as of the 16th of this month, no Nigeria can open the app again if you don't have anything inside the app but foe those who still have coins inside can only withdraw and make transfer and they can't deposit and any other thing expect withdraw from 12:00am. And everything will end on the end (30th) of August 2024. And I believed by now no Nigerian is still using that exchange again. And if there is anyone do well to be at the saver side.
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I wanted to make a bitcoin transaction few hours ago, I remember one of the benefits of OKX as I wanted to transfer the coins on an exchange. At 6 sat/vbyte at the time which should be $0.51 for onchain transaction. I wanted to use Bybit but the fee was $7.35. $4.17 on Binance. I remember OKX because I know the exchange has low fee for bitcoin withdrawal. I make the transaction with just $1.819 on OKX. I did recommended it for bitcoin withdrawal to people. And yet it is 2-of-3 multisig wallet, unlike Binance and Bybit that are single signature wallet. For 2-of-3 multisig wallet, the onchain fee would still be more than $0.51 which is estimated for single signature wallet.
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I think reminder was sent to many of the OKX users today to withdraw or transfer their assets in the exchange platform. They are leaving because of the policies of the government and as of the 16th of this month, no Nigeria can open the app again if you don't have anything inside the app but foe those who still have coins inside can only withdraw and make transfer and they can't deposit and any other thing expect withdraw from 12:00am. And everything will end on the end (30th) of August 2024. And I believed by now no Nigerian is still using that exchange again. And if there is anyone do well to be at the saver side.
I try to act like nothing happened, but to be sincere with you, it really hurts me to see okx leave Nigeria, like I did mentioned in my last post on this thread, okx was literally the only exchange I know of where users enjoys cheap withdrawal fees, if not for anything else, I loved this exchange so much for this reason, and right now, it's hard to come to terms wurb the fact I won't be able to use them again.
I really pray that something good should happen in the Nigerian crypto domain, that will bring a reversal to okx decision to leave Nigeria, I will be happy to welcome them back pretty soon.
Being hopeful.
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I think reminder was sent to many of the OKX users today to withdraw or transfer their assets in the exchange platform. They are leaving because of the policies of the government and as of the 16th of this month, no Nigeria can open the app again if you don't have anything inside the app but foe those who still have coins inside can only withdraw and make transfer and they can't deposit and any other thing expect withdraw from 12:00am. And everything will end on the end (30th) of August 2024. And I believed by now no Nigerian is still using that exchange again. And if there is anyone do well to be at the saver side.
I try to act like nothing happened, but to be sincere with you, it really hurts me to see okx leave Nigeria, like I did mentioned in my last post on this thread, okx was literally the only exchange I know of where users enjoys cheap withdrawal fees, if not for anything else, I loved this exchange so much for this reason, and right now, it's hard to come to terms wurb the fact I won't be able to use them again.
I really pray that something good should happen in the Nigerian crypto domain, that will bring a reversal to okx decision to leave Nigeria, I will be happy to welcome them back pretty soon.
Being hopeful.
Yes OKX was nice for it trading and transactions but since it is ok more in the Nigerian crypto market, we have to move on and kucoin which was good in transaction before now is charging. The day when Binance, OKX and kucoin denounced their services in the country, I also stopped using them and using only on the active ones now now like, Yellow Card, Bitget, and Bybit. People are still using Binance and kucoin for transaction only and not for trading. Nigerian government is still yet to understand cryptocurrency market and non of the cabinet members of the president understand cryptocurrency and that is why none has advised him the good way instead only the bad ways. Next president might favour the crypto community in the country like the way it is happening in US.
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I think reminder was sent to many of the OKX users today to withdraw or transfer their assets in the exchange platform. They are leaving because of the policies of the government and as of the 16th of this month, no Nigeria can open the app again if you don't have anything inside the app but foe those who still have coins inside can only withdraw and make transfer and they can't deposit and any other thing expect withdraw from 12:00am. And everything will end on the end (30th) of August 2024. And I believed by now no Nigerian is still using that exchange again. And if there is anyone do well to be at the saver side.
This is not good news. One by one the major exchanges are starting to abandon Nigerians. We need to immediately move assets to other wallets that are not directly connected to exchanges. But with this news, it will have a bad impact on altcoins that do not have wallets to accommodate them and are forced to sell assets and change their assets to Fiat or Bitcoin and Ethereum which have support from external wallets.
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I think reminder was sent to many of the OKX users today to withdraw or transfer their assets in the exchange platform. They are leaving because of the policies of the government and as of the 16th of this month, no Nigeria can open the app again if you don't have anything inside the app but foe those who still have coins inside can only withdraw and make transfer and they can't deposit and any other thing expect withdraw from 12:00am. And everything will end on the end (30th) of August 2024. And I believed by now no Nigerian is still using that exchange again. And if there is anyone do well to be at the saver side.
This is not good news. One by one the major exchanges are starting to abandon Nigerians. We need to immediately move assets to other wallets that are not directly connected to exchanges. But with this news, it will have a bad impact on altcoins that do not have wallets to accommodate them and are forced to sell assets and change their assets to Fiat or Bitcoin and Ethereum which have support from external wallets.
There are better exchanges that you can use and it is not a problem to any crypto investor that OKX is leaving Nigeria, after all they have delisted Naira p2p from their exchange for a while now before leaving the country. Why will anyone go and buy a coin that is only listed in OKX, it shows that coin is not a good one and y I should also be careful with the coin that you are investing so that you don't fall to scam because a lot of new projects are out due to the bull run hype.
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There are better exchanges that you can use and it is not a problem to any crypto investor that OKX is leaving Nigeria, after all they have delisted Naira p2p from their exchange for a while now before leaving the country. Why will anyone go and buy a coin that is only listed in OKX, it shows that coin is not a good one and y I should also be careful with the coin that you are investing so that you don't fall to scam because a lot of new projects are out due to the bull run hype.
That exchange na werey, them collect me $19 say e no reach minimum deposit. I pm them dem no gree release my money. Na so me and dem dey quata for e-mails on a steady basis dem still no gree. I just tire leave am for them. E no even reach two months I receive their memo. I just tell dem say na so their matter dey finish o, make dem carry their wahala go say I no send them.
Other exchange dey wey make brian pass okx exchange. Their policy too dey stringent and their minimum deposit too high wey make am too risky to send anything there. What is the point when one can not send the minimum of $10 there for trade or p2p deal. They are of no use when they can not accommodate $10 amount.
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Other exchange dey wey make brian pass okx exchange.
my fear be say make kucoin no follow OKX misbehave say dem won leave Nigeria with all their activities plus shutting down their website and all the operation because I still dey use am dey make some transactions. Though OKX was one my best exchange and even better pass Binance because I was almost scammed by a vendor in Binance with the some ₦400,000. And since from that day I hate Binance with their manipulating system. And they started the manipulation of dollar in the country through their platform.
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Other exchange dey wey make brian pass okx exchange.
my fear be say make kucoin no follow OKX misbehave say dem won leave Nigeria with all their activities plus shutting down their website and all the operation because I still dey use am dey make some transactions. Though OKX was one my best exchange and even better pass Binance because I was almost scammed by a vendor in Binance with the some ₦400,000. And since from that day I hate Binance with their manipulating system. And they started the manipulation of dollar in the country through their platform.
Kucoin is up and doing and I have not heard anything wrong about them for a while now. They are more of working behind the scenes rendering good and quality service to their customers. I think leaving Nigeria would be the last thing on their list because Nigeria is a hot cake and big market for them. So what is the point they losing out when everything can be negotiated round table with the government.
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This news about OKX pulling out from the Nigerian market Is definitely causing a stir.we all know that the regulatory environment in Nigeria has been tightening recently especially on crypto-related activities. This could be a response to government pressure, as we've seen other exchanges face similar challenges and (CBN) has been clear about its stance on cryptocurrencies, which could be driving force of this recent development. The withdrawal process might force traders to migrate to other platforms, which could bring new challenges like adjusting to different interfaces, fee structures, and liquidity levels but then we will all have to adjust.
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Though OKX was one my best exchange and even better pass Binance because I was almost scammed by a vendor in Binance with the some ₦400,000. And since from that day I hate Binance with their manipulating system. And they started the manipulation of dollar in the country through their platform.
I haven’t really used okx that much but after Binance delisted ngn I turned to kucoin and then Bybit and out of all of them I will choose Bybit - the experience so far has been really good, the p2p and the several airdrop opportunities over there has made me fallen in love with the exchange.
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Though OKX was one my best exchange and even better pass Binance because I was almost scammed by a vendor in Binance with the some ₦400,000. And since from that day I hate Binance with their manipulating system. And they started the manipulation of dollar in the country through their platform.
I haven’t really used okx that much but after Binance delisted ngn I turned to kucoin and then Bybit and out of all of them I will choose Bybit - the experience so far has been really good, the p2p and the several airdrop opportunities over there has made me fallen in love with the exchange.
I think bybit saw ahead and prepared themselves for the task. So far, bybit exchange p2p I must say is very much coordinated and at some point, equals binance p2p and modes of operation. The service is topnotch and very straight forward to deal with. Although I have used kucoin but the settings doesn't excites me. It doesn't looks more attractive like that of bybit. Little wonder bybit was able to achieve a huge traffic to their exchange last month raising the user base to over 40 million users. They saw ahead and prepared themselves for the task and turn up.
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Though OKX was one my best exchange and even better pass Binance because I was almost scammed by a vendor in Binance with the some ₦400,000. And since from that day I hate Binance with their manipulating system. And they started the manipulation of dollar in the country through their platform.
I haven’t really used okx that much but after Binance delisted ngn I turned to kucoin and then Bybit and out of all of them I will choose Bybit - the experience so far has been really good, the p2p and the several airdrop opportunities over there has made me fallen in love with the exchange.
I think bybit saw ahead and prepared themselves for the task. So far, bybit exchange p2p I must say is very much coordinated and at some point, equals binance p2p and modes of operation. The service is topnotch and very straight forward to deal with. Although I have used kucoin but the settings doesn't excites me. It doesn't looks more attractive like that of bybit. Little wonder bybit was able to achieve a huge traffic to their exchange last month raising the user base to over 40 million users. They saw ahead and prepared themselves for the task and turn up.
Yes and I can see that they are trying their best to remove all the vendors wey dey manipulate the platform p2p prices. And dem say Bitget too na one good exchange, I don used am once and that time the manipulation was too there so I run from am and use others. Yellow card too e dey there, I never used am too because na the platform go find vendor for you and no be you go select vendor of your choice. And each of the transaction dem dey cut ₦100. So I keep dat one for aside for now but it is vet fast once you are merge with a vendor. Telegram wallet and yellow card looks alike for operations. And I think bybit and Bitget will not have any issue with the authority again. I don't know if Binance and kucoin will come back again with their p2p.
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Though OKX was one my best exchange and even better pass Binance because I was almost scammed by a vendor in Binance with the some ₦400,000. And since from that day I hate Binance with their manipulating system. And they started the manipulation of dollar in the country through their platform.
I haven’t really used okx that much but after Binance delisted ngn I turned to kucoin and then Bybit and out of all of them I will choose Bybit - the experience so far has been really good, the p2p and the several airdrop opportunities over there has made me fallen in love with the exchange.
I think bybit saw ahead and prepared themselves for the task. So far, bybit exchange p2p I must say is very much coordinated and at some point, equals binance p2p and modes of operation. The service is topnotch and very straight forward to deal with. Although I have used kucoin but the settings doesn't excites me. It doesn't looks more attractive like that of bybit. Little wonder bybit was able to achieve a huge traffic to their exchange last month raising the user base to over 40 million users. They saw ahead and prepared themselves for the task and turn up.
Yes and I can see that they are trying their best to remove all the vendors wey dey manipulate the platform p2p prices. And dem say Bitget too na one good exchange, I don used am once and that time the manipulation was too there so I run from am and use others. Yellow card too e dey there, I never used am too because na the platform go find vendor for you and no be you go select vendor of your choice. And each of the transaction dem dey cut ₦100. So I keep dat one for aside for now but it is vet fast once you are merge with a vendor. Telegram wallet and yellow card looks alike for operations. And I think bybit and Bitget will not have any issue with the authority again. I don't know if Binance and kucoin will come back again with their p2p.
I have not really tested the bitget features but I have heard good stories about them and I think they would worth the try in the near future. However bybit is really doing a good work. I can say that they have really improved on their services. I also noticed the price manipulation with the Nigeria p2p board were the bybit team restricted them and that was a good and smart by them as not to allow the naira inflation and devaluation. Anyways the accounts involved in those acts were all restricted to carrying out the manipulative transactions pending till they cancel their transaction. If binance and kucoin returns, good for them but as for me, I have moved on and bybit is what i can say are very much in existence here.
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Good day everyone. How trading dey go?
Who' else has noticed this news about OKX leaving Nigerian market. It's trending on twitter..
(https://i.ibb.co/nQnFM2T/20240716-153753.jpg) (https://ibb.co/zP7zVc1)
(https://imgbb.com/)
(https://i.ibb.co/hVzvvNj/Screenshot-2024-07-16-15-39-01-18-0b2fce7a16bf2b728d6ffa28c8d60efb.jpg) (https://ibb.co/YhsGGSM)
(https://imgbb.com/)
How una reason this thing?
I have been mean to ask this question but I neva get a chance to . But why did they leave naija market , was there any problems or issues cause I just don’t see the reason all of a sudden that they left . I use OKX to receive my dogs token but unfortunately it neva appear Naso my dogs token go for free oo . The dogs sef worth of 35$ the thing pain me sha . But what the reason they left .
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have been mean to ask this question but I neva get a chance to . But why did they leave naija market , was there any problems or issues cause I just don’t see the reason all of a sudden that they left . I use OKX to receive my dogs token but unfortunately it neva appear Naso my dogs token go for free oo . The dogs sef worth of 35$ the thing pain me sha . But what the reason they left .
I think it is related to something about Nigerian government trying to change their laws and regulations. They are trying to implement a new policy which OKX doesn’t seem to agree with that’s why they are shutting their services in Nigeria.
If to say you read through the thread you don see wetin cause the problem because Agbe clearly talk the reason why for one of him post for this thread. Next time try the read threads it is very helpful.