Take FG to court

SatantheDestroy:
yes i saw that. but u saying there will be so much scams is where i am not even getting you. how will you scam someone using localbitcoins or remito?

So you don't know you can be Scammed on localbitcoins.

Buyers can send you fake transfer and then raise a dispute that he sent you money

privaldo:


That was what I meant, you create an alternate account abroad do your crypto transactions and send it back to your Nigerian account in fiat currency.

Transfer fees can eat you up.

I think the best thing to do is for the affected to move to the neighbouring countries like Togo and open up there, we would buy their currency before buying crypto.


A big loss for Nigeria.

thebosstrevor1:
Even the writer of this article criticizing government policies is clueless.

You mean people shouuld open a PayPal account that they can't operate from Nigeria.

People should go to the unregulated p2p crypto market where you can be easily scammed.

You cannot buy crypto with any Nigerian visa or debit card and you can’t withdraw crypto to any bank says the writer and then he wants you to open a paypal account

Now, Deposit in naira to buy crypto have been stopped by most exchanges ( binance and luno) now, this will affect everyone in crypto, another method will be found that will benefit those who have a trusted buyer living outside Nigeria.

The method can be, find a reliable Nigerian living abroad, deposit equivalent money in the person Nigerian account and then the person helps you to buy the crypto you want and then send them to your wallet, this method is good but it is crazy when people understand that sending btc and ethereum from one wallet to another is very expensive that will make you lose.

People don't understand how very volatile crypto is. The volatility can make you panic and make you lose your cash very fast.

Imagine you buy ethereum or btc worth 100k from luno, when that 100k worth of ethereum shows on your ethereum wallet, it can be 98k, in 2 weeks, that ethereum can be worth 110k, in 4 days time, can be worth 99k..this volatile coin can play with your emotions and make you panic sell.

What about network fee.

If i send 10k ethereum to my friend's ethereum account, sometimes, sending fees can be 6k.

The crypto world sometimes when you look at it clearly, works like an organized ponzi scheme.

At the end of the day, i prefer stocks to the crypto scam even though the returns can be huge, if you are an early buyer

you just dey yarn nonsense... Is eth the only coin in the market.. What of coins on binance smart chain?? Stock prices no dey rise and fall?? Dundee forming woke.

Kingsley moghalu explained Nigeria under buhari perfectly yesterday on channels TV.

So much adhocism.
No deep thinking involved in policy creation, just trial and error.

And who suffers?

Ordinary Nigerians.

FDi dropped from $20b to less than $9b, with the likes of Ghana and ivory coast now attracting greater foreign investment.

It's not rocket science.

thebosstrevor1:


You trade on the most popular platform which is binance . Binance wrote that for now, you can't buy crypto with your Nigerian debit card but you can withdraw to your bank account.

This is what the binance ceo wrote.

If you have $NGN on Binance, you can:
1. withdraw NGN soon, or
2. convert to #crypto and hold it


The reality is that p2p will flourish but it will also lead to lot of scams, making people distrust crypto investments

NGN withdrawal option has been deactivated on binance as at this morning

Buhari is building rails.
Very Good

But there is no proper economic policy to make those infrastructure contribute maximally to the economy.

That is why Nigeria is experiencing sharp decline in investment even with those infrastructure.

It's critical for Nigeria to adopt free market economy in 2023.
And we need to elect a president that can do that.

Only then will those buhari rails make sense.

thebosstrevor1:


Government can not monitor your transaction that is if you can even make transactions at all.

Presently, you can't even buy crypto with a Nigerian bank card or payment gateway.

You can only do offline p2p not online.

Government can not monitor offline p2p but online, they have dismantled the means of buying until further notice

What are you saying? You keep saying the same thing while ignoring the answer to his questions. Na wah oh

Sparky01:
you just dey yarn nonsense... Is eth the only coin in the market.. What of coins on binance smart chain?? Stock prices no dey rise and fall?? Dundee forming woke.

Woke ontop of crypto...na wa ooh.


Btc and ethereum is the most useful coins. The other coins you talked about are cheap to send because nobody uses them. Bitcoin and ethereum were cheaper to send until blocks became difficult to solve which led to high network fees.

I have tested many coins and btc and ethereum is still the most accepted means of transaction on the mainweb.

Crypto is not stock.

Any body that talks about "closing shop to prevent rats" as a campaign policy is our worst enemy in 2023.

Campaigns should be on the economy.

thebosstrevor1:


You trade on the most popular platform which is binance . Binance wrote that for now, you can't buy crypto with your Nigerian debit card but you can withdraw to your bank account.

This is what the binance ceo wrote.

If you have $NGN on Binance, you can:
1. withdraw NGN soon, or
2. convert to #crypto and hold it


The reality is that p2p will flourish but it will also lead to lot of scams, making people distrust crypto investments

P2P will flourish, creating trusted escrow platform... Remitano has been working for a long time even without naira wallet... Strictly P2P while the platform works as escrow....

privaldo:


You don't get me, do you? I meant if you open an account outside Nigeria maybe another West African country, and carry out your transaction seamlessly will the government stop you?

For context, you would still maintain your Nigerian account just that you would transfer to your foreign account when you want to make a crypto transaction.

Just ignore him, he's too simple minded!!! He doesn't even understand your question at all. Very dull of him

thebosstrevor1:


Transfer fees can eat you up.

It may not be as bad as you think.

bareal:



Just ignore him, he's too simple minded!!! He doesn't even understand your question at all. Very dull of him

Nigeria transacts more bitcoins than the whole of the EU.

If bitcoins appreciates as it is predicted and becomes an established currency, it means a lot of Nigerians will have lots of it.

It would be like having millions of dollars in many Nigerian accounts.


It would make Nigerians very prosperous and eliminate poverty significantly more than any poverty alleviation scheme.

SatantheDestroy:
yes i saw that. but u saying there will be so much scams is where i am not even getting you. how will you scam someone using localbitcoins or remito?

@SatantheDestroy

mmsen:


You gave the example of ethereum but ethereum is one of the worst examples of cryptocurrency out there - it's blockchain is horribly bloated, inefficient and open to manipulation by a central body, the very antithesis of the dream as stated in the bitcoin whitepaper.

There are plenty of better options where you will not spend $30 to send $300. Even bitcoin tx fees are nowhere near that high, xmr, ltc, doge, bch are all cheap and easy to send.


P.S.
I was under the impression that Nigerians could open paypal accounts.

Xmr is not cheap to send
Ltc is not cheap.

I know ripple is very cheap and fast to send
Bch is expensive
Doge is cheap

The problem is how many merchants and exchanges accept all these coins, if you want to trade.

I noticed most collect btc and ethereum, but you must have btc to trade on exchanges

thebosstrevor1:
Even the writer of this article criticizing government policies is clueless.

You mean people shouuld open a PayPal account that they can't operate from Nigeria.

People should go to the unregulated p2p crypto market where you can be easily scammed.

You cannot buy crypto with any Nigerian visa or debit card and you can’t withdraw crypto to any bank says the writer and then he wants you to open a paypal account

Now, Deposit in naira to buy crypto have been stopped by most exchanges ( binance and luno) now, this will affect everyone in crypto, another method will be found that will benefit those who have a trusted buyer living outside Nigeria.

The method can be, find a reliable Nigerian living abroad, deposit equivalent money in the person Nigerian account and then the person helps you to buy the crypto you want and then send them to your wallet, this method is good but it is crazy when people understand that sending btc and ethereum from one wallet to another is very expensive that will make you lose.

People don't understand how very volatile crypto is. The volatility can make you panic and make you lose your cash very fast.

Imagine you buy ethereum or btc worth 100k from luno, when that 100k worth of ethereum shows on your ethereum wallet, it can be 98k, in 2 weeks, that ethereum can be worth 110k, in 4 days time, can be worth 99k..this volatile coin can play with your emotions and make you panic sell.

What about network fee.

If i send 10k ethereum to my friend's ethereum account, sometimes, sending fees can be 6k.

The crypto world sometimes when you look at it clearly, works like an organized ponzi scheme.

At the end of the day, i prefer stocks to the crypto scam even though the returns can be huge, if you are an early buyer

You don't understand how crypto works so go and face your stock oga Ade. You have USDT which is equivalent to USD and stable at thesame time. Transfering some crypto coins like XRP is even way cheaper regardless of the volume than your CBN stamp duty. Youth like you need to be reoriented about life. Let us all collectively reject struggling and suffering as a way of life. Our leaders are weaponising poverty and you are here supporting their inhuman policy. Our parents accepted it that is why we are here. Where is the positive effect of border closure. Show me that of REMITA. Crypto is puting your future in your own hand rather than hoping in a useless and backward policies of theirs. I started crypto with 39k July last year, to God be the Glory I am a Million+ now. Na from barbing shop I go get 1M? Bleep the Goverment

It annoyed me listening to Adamu on channelstv spewing trash on cryptocurrency, it just so bad sharing country with these set of people.

They keep chasing investors away and the crying “why is there no dollar inflow.”

Please, which one did you invested in?
I always the Crypto of a thing but don't know about it?
Pls, can you share a little advice?

irumanle:
You don't understand how crypto works so go and face your stock oga Ade. You have USDT which is equivalent to USD and stable at thesame time. Transfering some crypto coins like XRP is even way cheaper regardless of the volume than your CBN stamp duty. Youth like you need to be reoriented about life. Let us all collectively reject struggling and suffering as a way of life. Our leaders are weaponising poverty and you are here supporting their inhuman policy. Our parents accepted it that is why we are here. Where is the positive effect of border closure. Show me that of REMITA. Crypto is puting your future in your own hand rather than hoping in a useless and backward policies of theirs. I started crypto with 39k July last year, to God be the Glory I am a Million+ now. Na from barbing shop I go get 1M? Bleep the Goverment

Veqtor:
They better reverse the ban on Cryptocurrency.

They think dey r clamping down on Southerners, especially Igbos, with that ban but they are just shooting their own feet. Dimwits.

Abooki must you mention igbos.

Untill the unless idiots leaves power before...

Things can be normal... the only normal thing to them is

Killer fulani herdmen on rampage.... they cant ban them...

thebosstrevor1:


Xmr is not cheap to send
Ltc is not cheap.

I know ripple is very cheap and fast to send
Bch is expensive
Doge is cheap

The problem is how many merchants and exchanges accept all these coins, if you want to trade.

I noticed most collect btc and ethereum, but you must have btc to trade on exchanges

Er, you are very wrong. Terrible intel.

XMR tx fees are pennies, at most. Oftentimes less.
https://www.monero.how/monero-transaction-fees

Bitcoin Cash Avg. Transaction Fee historical chart
Average transaction fee, USD | 0.000005 BCH

Litecoin Avg. Transaction Fee historical chart
Average transaction fee, USD | 0.00022 LTC ($0.033 USD)

Doge is currently the most expensive of those to send - the tx fee is 2 doge which works at at 0.16 USD.

Also, xrp is a centralized database and should not be considered in the same conversation.

thebosstrevor1:
Even the writer of this article criticizing government policies is clueless.

You mean people shouuld open a PayPal account that they can't operate from Nigeria.

People should go to the unregulated p2p crypto market where you can be easily scammed.

You cannot buy crypto with any Nigerian visa or debit card and you can’t withdraw crypto to any bank says the writer and then he wants you to open a paypal account

Now, Deposit in naira to buy crypto have been stopped by most exchanges ( binance and luno) now, this will affect everyone in crypto, another method will be found that will benefit those who have a trusted buyer living outside Nigeria.

The method can be, find a reliable Nigerian living abroad, deposit equivalent money in the person Nigerian account and then the person helps you to buy the crypto you want and then send them to your wallet, this method is good but it is crazy when people understand that sending btc and ethereum from one wallet to another is very expensive that will make you lose.

People don't understand how very volatile crypto is. The volatility can make you panic and make you lose your cash very fast.

Imagine you buy ethereum or btc worth 100k from luno, when that 100k worth of ethereum shows on your ethereum wallet, it can be 98k, in 2 weeks, that ethereum can be worth 110k, in 4 days time, can be worth 99k..this volatile coin can play with your emotions and make you panic sell.

What about network fee.

If i send 10k ethereum to my friend's ethereum account, sometimes, sending fees can be 6k.

The crypto world sometimes when you look at it clearly, works like an organized ponzi scheme.

At the end of the day, i prefer stocks to the crypto scam even though the returns can be huge, if you are an early buyer

You are very correct with your analysis. How can you operate PayPal from Nigeria? No way! When attention is turned to PayPal, those guys would sense it and block your account. Right from the beginning, i've never been a friend to this volatile currencies. The reason most people yield to it is because they can easily buy, hold it and then sell. But what exactly are you buying? What services did you render? No one can answer those questions. I think I support the CBN to go ahead with the ban. Monitoring crypto market can make you go mad.

If you have a good stock working for you, please share with me let me buy as well. I've account with T212 and I'm very new to stock trading.

irumanle:
You don't understand how crypto works so go and face your stock oga Ade. You have USDT which is equivalent to USD and stable at thesame time. Transfering some crypto coins like XRP is even way cheaper regardless of the volume than your CBN stamp duty. Youth like you need to be reoriented about life. Let us all collectively reject struggling and suffering as a way of life. Our leaders are weaponising poverty and you are here supporting their inhuman policy. Our parents accepted it that is why we are here. Where is the positive effect of border closure. Show me that of REMITA. Crypto is puting your future in your own hand rather than hoping in a useless and backward policies of theirs. I started crypto with 39k July last year, to God be the Glory I am a Million+ now. Na from barbing shop I go get 1M? Bleep the Goverment

Shut up.

Because you know about usdt, that means you know about crypto.

You claim crypto is putting your future into your hands, how? Aren't people also losing all their life savings in crypto trading because of volatility

It seems you think people use rice to buy 1 usdt or 2 xrp.

Xrp is cheaper, how many people use it for transactions, how many times have someone sent you ripple and you converted it to cash.

You claim you made millions from 39k ...anyway every Nigerian online is a millionaire.

You don't know me so stop typing rubbish..

mmsen:


Er, you are very wrong. Terrible intel.

XMR tx fees are pennies, at most. Oftentimes less.
https://www.monero.how/monero-transaction-fees

Bitcoin Cash Avg. Transaction Fee historical chart
Average transaction fee, USD | 0.000005 BCH

Litecoin Avg. Transaction Fee historical chart
Average transaction fee, USD | 0.00022 LTC ($0.033 USD)

Doge is currently the most expensive of those to send - the tx fee is 2 doge which works at at 0.16 USD.

Also, xrp is a centralized database and should be considered in the same conversation.

I mostly use bitcoin, ethereum, ripple but ripple was the cheapest and the fastest of all.

I have other coins which are cheap to send but most people dont use them for transactions, i just use those coins for short trading
I

samuelson06:


You are very correct with your analysis. How can you operate PayPal from Nigeria? No way! When attention is turned to PayPal, those guys would sense it and block your account. Right from the beginning, i've never been a friend to this volatile currencies. The reason most people yield to it is because they can easily buy, hold it and then sell. But what exactly are you buying? What services did you render? No one can answer those questions. I think I support the CBN to go ahead with the ban. Monitoring crypto market can make you go mad.

If you have a good stock working for you, please share with me let me buy as well. I've account with T212 and I'm very new to stock trading.

I have no specific info on stock but this is my strategy.

I don't invest in popular stocks.

I only invest in companies with the potential of growth.

I follow their news daily and try to see what important innovation they are making.

A possible innovation can increase stock price.

Try to read hudge funds letters, lot of secrets are there.

Which Crypto is good to invest in now?

thebosstrevor1:


I mostly use bitcoin, ethereum, ripple but ripple was the cheapest and the fastest of all.

I have other coins which are cheap to send but most people dont use them for transactions, i just use those coins for short trading
I

thebosstrevor1:


Shut up.

Because you know about usdt, that means you know about crypto.

You claim crypto is putting your future into your hands, how? Aren't people also losing all their life savings in crypto trading because of volatility

It seems you think people use rice to buy 1 usdt or 2 xrp.

Xrp is cheaper, how many people use it for transactions, how many times have someone sent you ripple and you converted it to cash.

You claim you made millions from 39k ...anyway every Nigerian online is a millionaire.

You don't know me so stop typing rubbish..

Oga stick to your stocks nah. What's your problem? You know very little about crypto but pride no go gree you comot hand for the matter. You lost money in crypto so we should not hear word again? Your are too emotional for the bizness, let people who get stone-cold heart do it and leave them in peace. You just carry wahala for head dey challenge anybody anyhow.