Monday, 22 February 2021

Nigeria Crypto black market is thriving - See Why

Strong demand for Bitcoin by a growing number of Nigerians has made the unofficial crypto market flourish.

It has been about two weeks since Apex Bank of Nigeria banned regulated financial institutions from engaging in cryptocurrencies or dealing with anger. Faced with the fear of the Central Bank of Nigeria, financial institutions immediately began making deals related to cryptography.
Nigeria Crypto black market is thriving - See Why


As a result of such a ban, Nigerians' demand for Bitcoin has grown so exponentially that it has surpassed the African continent. According to research from nairametrics when looking around the website.  Below a pinch of the article...

See How to Safely Buy, Sell Crypto’s in Nigeria, Withdraw in Naira to Your Bank Account

February 5 is a day that cryptocurrency traders in Nigeria will never forget because it changes a lot.

In early February, the Central Bank of Nigeria (CBN) issued a circular effectively banning cryptocurrency trading in Nigeria and ending the relationship that existed between Nigerian cryptocurrency exchanges and banks in that country.
See How to Safely Buy, Sell Crypto’s in Nigeria, Withdraw in Naira to Your Bank Account


The ban has forced many Nigerians to keep their cryptocurrencies, and those who want to buy are struggling to buy. Some money changers or exchangers in Nigeria, such as Luno, Yellowcard, Quidax, Patricia, among others, have currently disabled cash withdrawals, while some have found a way to switch to P2P.

For Bundle Africa, they recently sent an email to all subscribers to inform them that they are working on how to create a P2P platform while expanding into the Ghanaian market.