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Nairaland Forum / Nairaland / General / Business / CBN New Policy On Cryptocurrency: What You Should Know (79519 Views)
FG Lifts Ban On Cryptocurrency, Introduces Taxation Instead / First Bank Accepts CBN New Board As Adeduntan Resumes / CBN's New Policy On Cash Deposits: Nigerians React (2) (3) (4)
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Re: CBN New Policy On Cryptocurrency: What You Should Know by phadul: 2:02am On Feb 06, 2021 |
Give us jobs you can't! We set shops you demolish! We go online you restrict it! In the interim you increase the price of everything in the economy! And still come to our doorstep looking for money in the name if taxes to help this so called government that dont benefit anyone but the pockets of few individuals! Its ok 3 Likes |
Re: CBN New Policy On Cryptocurrency: What You Should Know by grandstar(m): 2:05am On Feb 06, 2021 |
Missyajoke: How? |
Re: CBN New Policy On Cryptocurrency: What You Should Know by mmsen: 5:31am On Feb 06, 2021 |
This is what happens when you stuff your apex bank with people from the most unproductive part of the country as 'political favors'. Una well done. I await the day when the CBN makes a rational announcement. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by wonder233: 6:39am On Feb 06, 2021 |
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. magicminister: |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Microwhy: 6:45am On Feb 06, 2021 |
lalasticlala: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.. 6 Likes 1 Share |
Re: CBN New Policy On Cryptocurrency: What You Should Know by namo77: 6:50am On Feb 06, 2021 |
If you have any means of leaving this country, leave asap. This country will kill you before your time 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Microwhy: 6:51am On Feb 06, 2021 |
wonder233:That means crypto is not good for the economy? I just want to know, i don't want to follow the bandwagon please. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by EMMY76: 6:54am On Feb 06, 2021 |
The cbn is just wasting their time they don't have what it takes to completely stop cryptocurrency trading in this country nigerians will definitely look for other alternatives to trade their coins like using escrow accounts. |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Curious345: 6:55am On Feb 06, 2021 |
stuntman007:and you think it's easy opening ACC over there as a foreigner 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by MartinsD12(m): 7:15am On Feb 06, 2021 |
Mcslize:OK noted |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Farolo: 7:28am On Feb 06, 2021 |
joey150: 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. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Jestin: 7:37am On Feb 06, 2021 |
Bitcoin have come to stay |
Re: CBN New Policy On Cryptocurrency: What You Should Know by abdulazeez1002(m): 7:39am On Feb 06, 2021 |
iamJ:Are you this dumb?? Jeez 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by newisd75: 7:44am On Feb 06, 2021 |
this is easy 2 say on paper by d buhari fg than done in reality. nigeria economy will b on a free fall, with more bandits & boko haram activity |
Re: CBN New Policy On Cryptocurrency: What You Should Know by davididenyi(m): 8:26am On Feb 06, 2021 |
iamJ: |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Freemasonry: 8:31am On Feb 06, 2021 |
Yesterday I got a call from the manager of my bank asking me why I use a domiciliary account and what kind of business I do. Funny thing is after I explained that I was an online entrepreneur he kept asking if it was Bitcoin, and I kept explaining that I sold digital products and not cryptocurrencies. It was as if he badly wanted me to admit trading on crypto. And that’s how they’re flagging people’s accounts. 2 Likes |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Binance(m): 8:33am On Feb 06, 2021 |
Microwhy:Me sef shock looking at this Daura analysis o 2 Likes |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Dorcaz: 9:05am On Feb 06, 2021 |
Farolo: Kindly paste the link to the page here. Thanks 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Freech: 9:14am On Feb 06, 2021 |
4ckTOT0:betting coys are worldwide so why are u suggesting their ban? Besides is not by force to bet. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Nobody: 9:18am On Feb 06, 2021 |
Nigerian governemt are afraid that their citizens might outsmart them and take over the government one day so anything to stop it that is what they are doing. Nigerian government are anti-people. Nigerian government always frustrating their citizens efforts. This is why Nigerians cut corners in everything, I don't blame them. their government systems are against nigerians. 2 Likes |
Re: CBN New Policy On Cryptocurrency: What You Should Know by wonder233: 9:50am On Feb 06, 2021 |
Crypto is not bad. However, every country has its own peculiar economic challenges and takes measures to protect the larger economy to prevent a crash especially when it is a fragile economy like most developing nations. The developed nations can afford to go full scale with any new economic trend cos their economies are multi tirerd and can withstand any shocks, but even at that the regulators still step in from time to time to apply the breaks on some seemingly lucrative trends to prevent examples like the global economic melt down of 2008. For developing nations like Nigeria, it is even more dicey, any little thing, we are done for. Foreign exchange is at the heart of this crypto issue. The moment a developing nation experiences foreign exchange liquidity problems, it is done for. In our case, our major forex earner is oil, now with that sector not doing great in recent times, we have to be careful how we manage the little forex we have. If it is roundtripped and merely stored as crypto, it can only hurt the economy in the long run, and that is exactly what Nigerians do with crypto: buy and store and wait for it to magically appreciate in value, then become rich! But in other countries, crypto is being used for active transactions, meaning, the money still circulates within the economy, thereby creating wealth and boosting the economy. So, the way we go about our crypto dealings here is what needs to change. Microwhy: 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by CSTRR: 9:53am On Feb 06, 2021 |
stuntman007:You must have a Ghanian passport to register in a bank in Ghana. 2 Likes |
Re: CBN New Policy On Cryptocurrency: What You Should Know by CSTRR: 9:54am On Feb 06, 2021 |
Nigeria is the second highest bitcoin market in the world after the USA. At least as at the day before yesterday. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by 042gist: 10:28am On Feb 06, 2021 |
They can not even make a simple sentence. What is the Central of Bank of Nigerians |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Farolo: 10:40am On Feb 06, 2021 |
Dorcaz: 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 2 Likes 1 Share |
Re: CBN New Policy On Cryptocurrency: What You Should Know by writeprof(m): 10:50am On Feb 06, 2021 |
Signed by BELLO HASSAN & MUSA JIMOH after? approval by GODWIN EMEFIELE |
Re: CBN New Policy On Cryptocurrency: What You Should Know by SUPERPACK: 10:58am On Feb 06, 2021 |
Watch out for cryptocurrency scammers from now onwards, they are now on this thread to capitalize on the new confusion going on. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Dorcaz: 11:17am On Feb 06, 2021 |
Farolo: Thanks a lot. Would put your admonition to good use. 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by GMBuhari: 12:15pm On Feb 06, 2021 |
Sailor1: I bought 10000 units of FBN PO in 2008 The last time I received dividend was in 2018 or so and what's the value? 2,500 I bough access bank arounf the same time, my dividend is about $0.68 cents around same 2018 I bought syebank as well those ones don't even bother sending dividends Point is so much corruption, dishonesty and blatant bold face robbing citizens, I wouldn't advise the child of my enemy to buy Nigerian stocks, the people in charge are bereft of new ideas and they keep stealing all the profits |
Re: CBN New Policy On Cryptocurrency: What You Should Know by Rooneyboy(m): 12:51pm On Feb 06, 2021 |
iamJ:why are u displaying such high level of ignorance? If you don't know something don't you think the best thing is to learn? 1 Like |
Re: CBN New Policy On Cryptocurrency: What You Should Know by magicminister: 1:08pm On Feb 06, 2021 |
wonder233: 1- how does a blanket ban of money transfer to Nigerian accounts from overseas make sense as a monetary policy?? 1a- initially, payouts were made in Naira, now CBN mandated payouts to be made in dollars. Which is good for the customer but bad for the economy as a whole. 2- how does blanket ban of crypto make sense from a monetary policy perspective? Any reasonable government will tax crypto gains on cash out. 10% of your crypto gains every time you cash out goes to the government or something like that. Lol... I’m more exposed and clearly smarter and 10000 times richer than you. I typically don’t engage peasants but I’m bored lol! Insult away... it’s okay, take your frustration out on a random anonymous guy that can change your entire generation lol |
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