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Everybody Saying CBN Ban Crypto-bitcoin - Investment - Nairaland

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Everybody Saying CBN Ban Crypto-bitcoin by olaxm: 10:07am On Feb 06
Everybody saying CBN ban crypto-bitcoin. It hell wrong oo. CBN ban banks from doing business with various start up company in Nigeria that provide payment services to Crypto-Bitcoin trading and exchange.

Example. If you have bitcoin and you use Patricia app to sell it. Patricia can't auto pay to your local bank account again because CBN ask banks to discontinue this service. CBN no ban crypto-bitcoin trading oo. Bitcoin trading was originally designed for P2P pairs-to-pairs exchange and transaction are verified on blockchain descenralised database that removed cenralised which are CBN and Luno Patricia app etc. Bitcoin trading never end and it can't be stop via (DEX) descenralised exchange and P2P service.

App like remitano provide P2P with escrows and that is what we trader have been using for years until Nigeria start-up company start to emerge to build app around crypto trading. So what CBN did no affect anything in crypto-bitcoin trading. CBN only denied the common man on the street with no crypto knowledge an access to hold digital assets. Shikena.
Follow @dolakell on twitter For more bitcoin infogram

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Re: Everybody Saying CBN Ban Crypto-bitcoin by HaBaE(m): 10:10am On Feb 06
olaxm:
Everybody saying CBN ban crypto-bitcoin. It hell wrong oo. CBN ban banks from doing business with various start up company in Nigeria that provide payment services to Crypto-Bitcoin trading and exchange.

Example. If you have bitcoin and you use Patricia app to sell it. Patricia can't auto pay to your local bank account again because CBN ask banks to discontinue this service. CBN no ban crypto-bitcoin trading oo. Bitcoin trading was originally designed for P2P pairs-to-pairs exchange and transaction are verified on blockchain descenralised database that removed cenralised which are CBN and Luno Patricia app etc. Bitcoin trading never end and it can't be stop via (DEX) descenralised exchange and P2P service.

App like remitano provide P2P with escrows and that is what we trader have been using for years until Nigeria start-up company start to emerge to build app around crypto trading. So what CBN did no affect anything in crypto-bitcoin trading. CBN only denied the common man on the street with no crypto knowledge an access to hold digital assets. Shikena.
Follow @dolakell on twitter For more bitcoin infogram

Ok
Re: Everybody Saying CBN Ban Crypto-bitcoin by Shelumiel: 10:12am On Feb 06
What the CBN has done is indirect. When you tell banks not to deal in Bitcoin, you are indirectly disqualifying its use in the economy. Hence making it of no worth to our society

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Re: Everybody Saying CBN Ban Crypto-bitcoin by oluwaseyi1759(m): 11:28am On Feb 06
I can't understand this thing well... But if i have money on my luno app will I be able to withdraw it to my Bank account?
Re: Everybody Saying CBN Ban Crypto-bitcoin by MTAIYEM: 5:14pm On Feb 06
Please, OP answer oluwaseyi1759
Re: Everybody Saying CBN Ban Crypto-bitcoin by MTAIYEM: 5:15pm On Feb 06
olaxm:
Everybody saying CBN ban crypto-bitcoin. It hell wrong oo. CBN ban banks from doing business with various start up company in Nigeria that provide payment services to Crypto-Bitcoin trading and exchange.

Example. If you have bitcoin and you use Patricia app to sell it. Patricia can't auto pay to your local bank account again because CBN ask banks to discontinue this service. CBN no ban crypto-bitcoin trading oo. Bitcoin trading was originally designed for P2P pairs-to-pairs exchange and transaction are verified on blockchain descenralised database that removed cenralised which are CBN and Luno Patricia app etc. Bitcoin trading never end and it can't be stop via (DEX) descenralised exchange and P2P service.

App like remitano provide P2P with escrows and that is what we trader have been using for years until Nigeria start-up company start to emerge to build app around crypto trading. So what CBN did no affect anything in crypto-bitcoin trading. CBN only denied the common man on the street with no crypto knowledge an access to hold digital assets. Shikena.
Follow @dolakell on twitter For more bitcoin infogram

Answer the commenter below
Re: Everybody Saying CBN Ban Crypto-bitcoin by richboy7(m): 3:30pm On Feb 07
Answer ni?
Re: Everybody Saying CBN Ban Crypto-bitcoin by waleaimi(m): 4:50pm On Feb 07
most exchanges not in d p2p business line are trying to find a way out, the simplest is to liquidate all naira to either btc or eth, then u can withdraw naira thru p2p. or withdraw the converted crypto assets to other wallet of ur choice




oluwaseyi1759:
I can't understand this thing well... But if i have money on my luno app will I be able to withdraw it to my Bank account?

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Re: Everybody Saying CBN Ban Crypto-bitcoin by BIA3: 4:59pm On Feb 07
olaxm:
Everybody saying CBN ban crypto-bitcoin. It hell wrong oo. CBN ban banks from doing business with various start up company in Nigeria that provide payment services to Crypto-Bitcoin trading and exchange.

Example. If you have bitcoin and you use Patricia app to sell it. Patricia can't auto pay to your local bank account again because CBN ask banks to discontinue this service. CBN no ban crypto-bitcoin trading oo. Bitcoin trading was originally designed for P2P pairs-to-pairs exchange and transaction are verified on blockchain descenralised database that removed cenralised which are CBN and Luno Patricia app etc. Bitcoin trading never end and it can't be stop via (DEX) descenralised exchange and P2P service.

App like remitano provide P2P with escrows and that is what we trader have been using for years until Nigeria start-up company start to emerge to build app around crypto trading. So what CBN did no affect anything in crypto-bitcoin trading. CBN only denied the common man on the street with no crypto knowledge an access to hold digital assets. Shikena.
Follow @dolakell on twitter For more bitcoin infogram
Abeg how can I buy Dogecoin?
Re: Everybody Saying CBN Ban Crypto-bitcoin by slim147(m): 5:11pm On Feb 07
BIA3:

Abeg how can I buy Dogecoin?

You can buy it with bitcoin . I buy regularly
Re: Everybody Saying CBN Ban Crypto-bitcoin by Jcan: 5:43pm On Feb 07
I withdrew money from luno this morning.
Re: Everybody Saying CBN Ban Crypto-bitcoin by BIA3: 6:26pm On Feb 07
slim147:


You can buy it with bitcoin . I buy regularly
How boss?
Re: Everybody Saying CBN Ban Crypto-bitcoin by showafrica(m): 7:53pm On Feb 07
Jcan:
I withdrew money from luno this morning.

Luno uses 3rd party to pay, indirectly doing p2p. They learned there lessons in 2017 when Buhari freezed there account for no reason.
Re: Everybody Saying CBN Ban Crypto-bitcoin by Udapod(m): 9:26pm On Feb 07
oluwaseyi1759:
I can't understand this thing well... But if i have money on my luno app will I be able to withdraw it to my Bank account?
No you cant. You can buy other coins with it or withdraw it to an ewallet then from there to your bank account.
Re: Everybody Saying CBN Ban Crypto-bitcoin by jamin006: 8:45am On Apr 27
This was before the banned was made active. Till date, banks in Nigeria are not allowed to process transactions from Crypto exchanges. However, Crypto traders have resorted to the old way of trading which is Peer to Peer transaction.

Most crypto exchanges in Nigeria have enabled this feature in their exchanges and the crypto exchanges act as escrow for both the buyer and seller.

Personally, I use Quidax.com to fund my account and also withdraw Naira from my crypto account.

However, level 3 verification is a prerequisite before you can buy or sell using Quidax platform.

For details on how to use Quidax Peer to Peer platform, please visit this link : https://blog.quidax.com/make-way-p2p-is-live-on-quidax/
Jcan:
I withdrew money from luno this morning.

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