How will cryto currency ban in Nigeria affect you?

[Shigobad2020]

It will affect a lot of people because many local start up crypto companies might no longer operate. Till the government reconsiders them operating i think and remove the ban

Most of the crypto currency companies are no longer operating and banks are closing the account of the people that are using crypto currency for transaction.

 

[joy101]

It has affected so many people here in Nigeria, especially the investors them are no longer investing into the business and also those of us that crash out our money with it online has also affected us so much.

 

[Dubai]

Sincerely, the crypto ban has made many people lose money from bitcoin investment. So of us have crypto curreieces that are hanging in our wallet and can not be transferred die to service charge. It has caused a negative impact.

 

[Chibson]

Surprisingly, the ban on cryptocurrency by the Nigerian government has even made it more popular as it was before. A lot of Nigerians who are into cryptocurrency are using binance P2P to do their transactions smoothly.

 

[Damscooguns73]

Concerning how will crypto currency ban in Nigeria affect me. Well, it is actually affecting me already because I can make direct buy on crypto currency coin from my local bank which is very annoying, will have to go through the stress of getting a seller or a buyer.

 

[Kelly5]

Since the so called cryptocurrencies ban in nigeria, we all know that this never affected the way and manner nigerians use the cryptocurrencies. Infact more nigerians became more aware of the cryptocurrencies now than they were before and bought into the currency too.

 

[BrolySSJ]

Recently I saw a new released by the central bank of Nigeria that cryptocurrency have been paced on ban that no band should accept any transaction that involves it. I WS first troubled when I read this news because many of my online investment are through cryptocurrency but later I had a deed sigh of relief because I know that it is very difficult for anybody to lock Nigerians out of a system without finding a solution. It's a matter of time.
Now my concern is this, what if the CBN decision is fully implemented and there is no way to go around it, how will it affect your online business?

It would not affect me as i am not in Nigeria however i am sure that the impact on those that are in that country will be large. There is likely to be a lot of ways in which you can work around that, and i am sure that people will find it, however this would be illegal and therefore i think that people need to appeal to the government to reconsider.

 

[Sotherefore]

It has affected me seriously because I cannot deposit money directly from my bank account to my crypto exchanges and that is what the Federal Government has stopped,I don't see the need for them to try to stop cryptocurrency in Nigeria because no matter what the cryptocurrency is the future of digital currency.

 

[Dowenship]

Recently I saw a new released by the central bank of Nigeria that cryptocurrency have been paced on ban that no band should accept any transaction that involves it. I WS first troubled when I read this news because many of my online investment are through cryptocurrency but later I had a deed sigh of relief because I know that it is very difficult for anybody to lock Nigerians out of a system without finding a solution. It's a matter of time.
Now my concern is this, what if the CBN decision is fully implemented and there is no way to go around it, how will it affect your online business?

Well the level of the ban does not stop crypto currency totally. This days p2p is working best for everyone most especially for traders. so the rules as nothing to affect me as a trader.

 

[Sotherefore]

banning of cryptocurrency in Nigeria does not affect me in any way because that does not stop me from investing in cryptocurrency,the only function the Nigerian government was allowing direct deposit of money into the crypto exchanges.

 

[eLdavis]

Recently I saw a new released by the central bank of Nigeria that cryptocurrency have been paced on ban that no band should accept any transaction that involves it. I WS first troubled when I read this news because many of my online investment are through cryptocurrency but later I had a deed sigh of relief because I know that it is very difficult for anybody to lock Nigerians out of a system without finding a solution. It's a matter of time.
Now my concern is this, what if the CBN decision is fully implemented and there is no way to go around it, how will it affect your online business?

I dont think it would be possible because right now, there have been various talks about CBN creating their own stablecoin which would help them in the constant battle between the naira and dollar. So if they have this in mind they wouldn't go that far again

 

[Niftyyem]

Scammers would surely have less room to carry out their crimes if the ban is lifted. Many people have lost their coins and cash to unscrupulous elements who claim to either buy or sell them.

 

[Kunkun]

Well the ban indeed affected irrespective that there is the p2p option too, lots of money is being lost send coins from one wallet to another compared to when it could be easily withdrawn to one bank

 

[Jlife]

It does not affect me because it does not stop my investment in cryptocurrency , the Nigerian government are trying to do things they do not have an understanding about, i don't see the need for them to ban cryptocurrency because cryptocurrency is here to stay.

 

[Chibson]

The ban of cryptocurrency in Nigeria has really affected a lot of people. for me it has not really affected me because there are many other alternative means.

 

[Justin]

well, I am not in nigeria, however, cryptocurrency is also banned in my home country. Since it is illegal here, I cannot invest or trade crypto currency.

 

[Dowenship]

Recently I saw a new released by the central bank of Nigeria that cryptocurrency have been paced on ban that no band should accept any transaction that involves it. I WS first troubled when I read this news because many of my online investment are through cryptocurrency but later I had a deed sigh of relief because I know that it is very difficult for anybody to lock Nigerians out of a system without finding a solution. It's a matter of time.
Now my concern is this, what if the CBN decision is fully implemented and there is no way to go around it, how will it affect your online business?

Well as long the country did not totally ban crypto from Nigeria I.e imposing a law on everyone to stop doing crypto currency and p2p is well functioning then I think it shouldn't affect me but help me...

 

[ahmedo24]

Well as long the country did not totally ban crypto from Nigeria I.e imposing a law on everyone to stop doing crypto currency and p2p is well functioning then I think it shouldn't affect me but help me...

Yeah it won't affect us because of the peer-to-peer transactions that are available and also have some legit platforms that are offering the services though it would have been better if the country allowed cryptocurrency activities especially crypto to Fiat transaction.

 

[Sotherefore]

If this will affect a lot of people it will not affect me in any way because I do not actually need the Nigerian government in any way in my life for me to succeed in whatever I do ,after the banning of cryptocurrency I still invest in crypto.

 

[eLdavis]

crypto currency exchange Business ban in Nigeria will really affect a lot of people because right now that's what citizens in Nigeria are using as a means of survival due to lack of employment from the government

True, but currently many Nigerians have found a way round this, and are going on with their various activities as before. Even my self i easily withdraw my earning on from crypto without any stress.