The current clampdown by CBN on crypto trading in Nigeria is actually something. I think it is really stiffling. Even though, Nigerians are still able to participate in the crypto space largely by P2P transaction, I personally find that process stressful, expensive and ultimately discouraging. I was almost discouraged, but glad now that I made the choice to invest .
Yeah, I got into crypto in the midst of the clampdown. It cost me a lot using P2P and it was really a struggle figuring out a lot of things. I should add also that P2P poses some degree of added risk to the already “risky” crypto. I can only imagine how easy it would be when the ban is over. Easy to put in funds. Easy to take out funds. All without having to deal with some P2P fraudsters.
I would definitely have put in more money into crypto assets than I have now. And that cost of P2P could have been part of my capital. Sure, I have made quite some profits already. The market has favoured me and I think I invested in some good assets. I learned a lot, my confidence has improved, and I am impressed with my trading skills so far . However, withdrawing the funds is just something I don’t wanna do right now, but would like to do. It scares me. I fear that I might lose most of my profits should I dare.
So for our Bantu, I do wonder sometimes, how this crazy clampdown would affect things should XBN be listed in the midst of it.
I wonder who else thinks maybe we should wait a bit more? Hopefully, the ban would be lifted soon.
And if you think the ban isn’t a problem to worry about, please do share why you believe so.
It’s like 2017, I believe the news will settle soon.
Indications suggest that the CBN and SEC are currently ironing out the issues and concerns that have been raised about cryptocurrencies in Nigeria’s banking and financial system.
We as a Team in Bantu Blockchain Foundation has built and doing something that aligns with Regulators not just locally but also Regionally and Globally. we are redefining things whilst educating all sectors of the economy via what we’ve launched for ALL to enjoy.
Just the way text messages and emails push out poster or rather post office, crypto currency will also push bank aside. The Nigerian government should take this decision now before is too late.
A Federal High Court sitting in Abuja has vacated with immediate effect an interim order through which the Central Bank of Nigeria (CBN) froze the bank accounts in two banks of a firm that traded in cryptocurrency.
I think something will be done about the ban. Election is coming. They will try as much as possible to do will of the people. Even the youth have roles to play in lifting the ban
Everything lies on the youth. The foolishness of the youth will make us to suffer another 4years, which I pray not to happen. So we the youth, have to wake up
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. However, withdrawing the funds is just something I don’t wanna do right now, but would like to do. It scares me. I fear that I might lose most of my profits should I dare.
, we move​:muscle:t4: