Instead of introducing cryptocurrency regulations, the Nigerian government, through its apex bank, issued an autocratic directive on February 5, 2021, instructing financial institutions to block all accounts involved in virtual currency transactions. As a result, several accounts were frozen, and many individuals lost millions of Naira. However, the anti-crypto policy has failed to stamp out … Read more
There are several platforms that make it easy and seamless to purchase cryptocurrency in Nigeria, even when there are some forms of restrictions from the central bank. Is Cryptocurrency Legal in Nigeria? On February 5, 2021, the Central Bank of Nigeria (CBN) rolled out its first-ever anti-crypto policy, instructing financial institutions to close bank accounts linked … Read more
Bitcoin and other cryptocurrencies were established to bring about a new and secure means of transaction, free from bankers and brokers. But, as this technology becomes more popular across the world, many people are now becoming uneasy with the idea of being the only ones with access to their online investments. Investors are realizing that … Read more
Bitcoin hit $61,183 (NGN34,989,273.30) for the first time in six months on Friday, October 15, 2021, as the United States’ body language shows that it may approve the launch of an exchange-traded fund based on its futures contracts. Usually, policies of major economies like China, USA, South Korea, Japan determine how the market reacts. For … Read more
The price of Bitcoin has spiked to NGN33,777,567.30, a few weeks after China announced the ban of cryptocurrency, although it reacted to the shock, it was momentary. Also, the new spike may also be as a result of a report by Bloomberg that the U.S. Securities and Exchange Commission didn’t oppose the launch of a futures-based Bitcoin exchange-traded fund … Read more
No one takes China’s cryptocurrency ban seriously anymore. In less than 10 years, the country has a history of five bans. It doesn’t look like its September 24 decision was the final because there are some platforms that enable transactions with little or no restrictions. Unlike 2013 when bitcoin experienced a massive tumble after authorities … Read more
One of the cardinal reasons why peer-to-peer exchange (P2P) came into place is go give everyone the freedom to buy and sell cryptocurrency by removing the limitation that might have been put place by the government authorities. As if the brain behind P2P had seen the future or possibly what might come from the government, … Read more
Nigerians have traded at $8,761,051BTC on two major Peer-to-Peer (P2P) platforms LocalBitcoins and Paxful even as the Central Bank of Nigeria continues to block financial institutions from facilitating all transactions involving bitcoin and other cryptocurrencies. At the time of this report, 1BTC was N25,300,491.36 on Paxful and $48,960.56 on coinmarketcap. While Helsinki-based peer-to-peer bitcoin marketplace … Read more
Residents of the United Kingdom can now buy and sell cryptocurrencies starting this week, a press release by the global payment platform said Monday, August 23, 2021 The announcement is the first international expansion of PayPal’s cryptocurrencies services following the launching of the same system in the United States early this year. With over 403 million active accounts globally, the California-based … Read more
There are several platforms where you can conveniently exchange gift cards for Bitcoin or your local currency. Some of them include Bidali and Crypto Voucher, among others. During the ember months, you may receive gift cards for shopping from a relative or business partner. When they send you gift cards, how do you convert them … Read more
Users of CoinJar can now make purchases with crypto MasterCard across Australia, the longest cryptocurrency exchange in the country said in an official message on Tuesday, August 3, 2021 To make it easier for its users to order the card, the firm has also embedded a button within its crypto app which users can simply … Read more
The International Monetary Fund (IMF) said it is too early to make cryptocurrencies like bitcoin, ethereum, and bitcoincash among others a legal tender. For instance, BTC price broke above $50,000 for the first time in history on Tuesday, February 16, 2021, a price it couldn’t sustain due to its volatility. A report which was published … Read more
On Thursday, May 11, 2022, Nigeria’s Securities and Exchange Commission (SEC) released a new rule book on digital assets. The book detailed some of the registration requirements for cryptocurrency exchanges in Nigeria. This means that crypto-based companies will now have to be certified by the regulatory body. It is the first official rule book from … Read more
Crypto in 2019 isn’t what it is today. There are many efforts that have been put in place by the earliest users of Bitcoin. Some of such efforts are by making it possible for people to earn free coins for carrying out a few tasks on a platform and by creating free learning resources for … Read more
There are some platforms where buyers and sellers of cryptocurrency meet to complete trades, they are called Peer-To-Peer (P2P). As we write, crypto enthusiasts in Nigeria can no longer fund their crypto wallets through their bank accounts. But there is good news. Continuous use of an account to fund cryptocurrency-related activities may lead to a … Read more