Missyajoke:
If it's going to boost the economy its a welcome idea

magicminister:



Remove all the insult and see if you made any atom of sense! You can engage people without resorting to insult but I guess your parent didn’t teach you that and even if they did, it’s obvious you learnt very little of nothing at all!

lalasticlala:
So as more people buy crypto assets, more US dollars are being taken out of Nigeria. The pandemic and the resulting drop in oil prices has reduced the amount of dollars the CBN has in its reserves. And so it has been ruthless in restricting the use of foreign currency.

https://mobile.twitter.com/StearsBusiness/status/1357753704783478785

wonder233:
Its not by 'smart sounding clapbacks'. You are empty, just like the vast majority, that is why you need influencers to think for you while you simply jump on any bandwagon and trend. Again, I ask: what do you know about the topic at hand? Dissect the topic on the basis of macroeconomics and show a correlation between foreign exchange reserves and domestic currency stability and national income. Then we can have a discussion. Don't come here with your typical Nigerian youth shallow social media intellect. Coming here yakking about end sars and thinking you're making sense. My friend go and sit the fvk down.

stuntman007:
This thing is simple. We have Zenit, access and the rest back in Ghana and other neighbouring country around. Just go open account there, do your cryoto business then fund your naija account. Na our neighboring government go benefit from taxation on the bank transactions. Mumu government.

Mcslize:


Yes na. Was it not in the travel section a guy said he bought 0.8 bitcoin since 2015 and lost the login details since that time and as God will have it, he ended up finding the piece of paper he wrote the login details to his bitcoin wallet.

Guess how much he sold the 0.8 bitcoin this 2021?

12 million naira. Tell me if perhaps he kept 12 million naira by now won't the value depreciate.

That's how valuable crypto is if you can be patient to hold it for long.

joey150:


All this ban talk aside.

Can you explain how you can buy a foreign (crypto)currency with Naira without dollar actually leaving the country?

So when you pay in Naira, what do you think actually happens?

iamJ:
money is a legal tender that is guaranteed by a government

Bitcoin isn't guaranteed by anyone, if everybody using it decide to pull out, it will crash to zero cause bulk of it's current value is inflated

iamJ:
people said worst to me when I called mmm a ponzi scheme

What is Bitcoin? Can you hold it? Does it have an intrinsic value? Illiterate stop typing , you are a shame to digital world


If everybody decides to pull their money, who guarantees the payouts?

At least currency is a legal tender, bitcoin is dependent on people's believe and fomo


Last last una go wail, the only thing special about cryptocurrency is blockchain

Microwhy:

Stop the crab and stop been foolish with your analysis.
You deposit naira directly to all those exchanges (Binance=largest in the world, Luno Buycoin etc) without needing to convert to dollar.
Stop circulating lies and go back to who send you..
What is the difference between Crypto exchanges and forex exchanges...

Foolish people..

Farolo:


While you pay in naira for crypto dollars, another person is selling their crypto dollars to the exchange. The exchange pays them in naira and gets crypto dollars which they send to you.

The exchange all happens within borders. There's absolutely no way dollars is leaving the country!

Go to the exchange page on NL, you see the volume of trade there? Millions are being exchanged daily there.

4ckTOT0:
rubbish. cryptocurrency is bigger than naija govt. even top world powers like usa , china cant ban it, is it naija that cant even give its citizens nin?
next news abeg.
the govt hates anything that makes it citizens independent. they hate any thing they cant tax.
if there is anything they should ban is betnaija and co. for destroying the lives of many promising youths. n they wont ban it because they get a huge commission and tax from it. Bleep them all.

Microwhy:

That means crypto is not good for the economy?
I just want to know, i don't want to follow the bandwagon please.

stuntman007:
This thing is simple. We have Zenit, access and the rest back in Ghana and other neighbouring country around. Just go open account there, do your cryoto business then fund your naija account. Na our neighboring government go benefit from taxation on the bank transactions. Mumu government.

Dorcaz:



Kindly paste the link to the page here. Thanks

Farolo:


https://www.nairaland.com/5828664/currency-e-currency-market-deals-2020

Take note, only use reputable traders or request escrow from reputable persons. If in doubt, ask questions in the thread. There are good people there who would help you clarify and rectify. Wolves lurk around, so be careful. Do these and you're good.

I have worked with people on that thread for over 4 years, no complaints none whom I've seen face to face, yet we've exchanged millions remotely.

One person I would recommend whom I use (he only buys BTC though) is Ibraheem009. Man's a perfect gentleman to the core. We've traded BTC together for years. I just send to him and go to bed or go about my normal duties because alert must come in at most 20 minutes if bank delays. Normally, 5 minutes alert don show

Sailor1:
I
Money will always find its way. Crypt0 stable coins pegged to the dollar helped alot of folks escape the effect of incessant naira devaluation.

iamJ:
mmm users said the same thing

wonder233:
Its not by 'smart sounding clapbacks'. You are empty, just like the vast majority, that is why you need influencers to think for you while you simply jump on any bandwagon and trend. Again, I ask: what do you know about the topic at hand? Dissect the topic on the basis of macroeconomics and show a correlation between foreign exchange reserves and domestic currency stability and national income. Then we can have a discussion. Don't come here with your typical Nigerian youth shallow social media intellect. Coming here yakking about end sars and thinking you're making sense. My friend go and sit the fvk down.