₦airaland Forum

How The Naira Fell ...

The Naira usually is linked closely to movements in the commodity sector. Internationally known as a oil economy, Nigerias currency has essentially gained a huge chunk of its value from oil exports which have unfortunately fallen in value over the past year. Prices of the Naira have followed suit falling from levels of 305 to an excess of 371 per USD with rates considerably higher in black markets amid forex restrictions imposed by the government. While many other oil based economies have currently diversified out into tourism and hospitatlity industries, Nigerias heavy dependence on oil has lead to the demise of the Naira. The central bank of Nigeria has also played a large part in the devaluation of the Naira as controversial policies are enforced many are either driven away from the Naira or face resistance when looking for alternatives such as USD.


Solution Coming In The Form Of Bitcoin ?

Its not all doom and gloom when it comes to protecting your assets. Currently there are plenty of alternatives other than the Naira available. Gold and silver are the traditional forms but that's for another article as the current ideal medium has become Bitcoin. With its versatility and instant transactions it is not only ideal for saving, but its remittance properties are also pivotal. Bitcoin has held a strong and stable price for around a year, now never falling below levels of $300. Sitting at levels of $750 at the moment its no surprise Bitcoin is used to protect assets compared to bitcoin. You can easily exchange your money for bitcoin through the NairaEX exchange in a matter of hours. All you need is a Nigerian bank account to send your money from. The rest is a simple guided process by www.NairaEX.com !


https://btc.ng/bitcoin-guide/how-to-protect-yourself-from-the-falling-naira-via-bitcoin/

NairaExsupport:
How The Naira Fell ...

The Naira usually is linked closely to movements in the commodity sector. Internationally known as a oil economy, Nigerias currency has essentially gained a huge chunk of its value from oil exports which have unfortunately fallen in value over the past year. Prices of the Naira have followed suit falling from levels of 305 to an excess of 371 per USD with rates considerably higher in black markets amid forex restrictions imposed by the government. While many other oil based economies have currently diversified out into tourism and hospitatlity industries, Nigerias heavy dependence on oil has lead to the demise of the Naira. The central bank of Nigeria has also played a large part in the devaluation of the Naira as controversial policies are enforced many are either driven away from the Naira or face resistance when looking for alternatives such as USD.


Solution Coming In The Form Of Bitcoin ?

Its not all doom and gloom when it comes to protecting your assets. Currently there are plenty of alternatives other than the Naira available. Gold and silver are the traditional forms but that's for another article as the current ideal medium has become Bitcoin. With its versatility and instant transactions it is not only ideal for saving, but its remittance properties are also pivotal. Bitcoin has held a strong and stable price for around a year, now never falling below levels of $300. Sitting at levels of $750 at the moment its no surprise Bitcoin is used to protect assets compared to bitcoin. You can easily exchange your money for bitcoin through the NairaEX exchange in a matter of hours. All you need is a Nigerian bank account to send your money from. The rest is a simple guided process by www.NairaEX.com !


https://btc.ng/bitcoin-guide/how-to-protect-yourself-from-the-falling-naira-via-bitcoin/

will you guys remain@your current rate?

This is a new startup, what guarantee is there for customers who patronize your service? I would like to sell some bitcoins but I read somewhere on your website that the seller has to send you the coins first and wait between 1-4hrs for the transaction to be confirmed before you remit the naira equivalent. I'm not too comfortable with such proposal because as you know, bitcoin transactions are irreversible unlike fiat transaction. I'm in the U.S and cannot meet with you face to face. I have substantial coins to sell only if you implore the use of an escrow service and pay the %1 fee. I'm not sure how familiar you are with the forum bitcointalk.com there's a trustworthy guy offering escrow service for a 1% fee his name is ognasty. Your rate doesn't seem too bad, hence the reason I would like to patronize your service. Please let me know.

virus05:
will you guys remain@your current rate?

Rate changes based on the market trend.

Clone2020:
This is a new startup, what guarantee is there for customers who patronize your service? I would like to sell some bitcoins but I read somewhere on your website that the seller has to send you the coins first and wait between 1-4hrs for the transaction to be confirmed before you remit the naira equivalent. I'm not too comfortable with such proposal because as you know, bitcoin transactions are irreversible unlike fiat transaction. I'm in the U.S and cannot meet with you face to face. I have substantial coins to sell only if you implore the use of an escrow service and pay the %1 fee. I'm not sure how familiar you are with the forum bitcointalk.com there's a trustworthy guy offering escrow service for a 1% fee his name is ognasty. Your rate doesn't seem too bad, hence the reason I would like to patronize your service. Please let me know.

We are nearing our first year anniversary with millions in trade and thousands of customers served. We have clients all over the world and what makes us unique is our rates, fast payment and customer service.

We are licensed as a money service in Canada and we plan to expand to other countries in near future.

You are based in USA so you know how bitcoin exchange works, you deposit/sell bitcoin and you withdraw your cash. We don't accept escrow.


I know ognasty, my BTT account is legendary so i spent fair amount of time on the forum.

NairaExsupport:
We are nearing our first year anniversary with millions in trade and thousands of customers served. We have clients all over the world and what makes us unique is our rates, fast payment and customer service.

We are licensed as a money service in Canada and we plan to expand to other countries in near future.

You are based in USA so you know how bitcoin exchange works, you deposit/sell bitcoin and you withdraw your cash. We don't accept escrow.


I know ognasty, my BTT account is legendary so i spent fair amount of time on the forum.

You say you know ognasty and his escrow services, yet you refuse to use escrow. With escrow we are both protected, without it, I have no protection whatsover. Bitcoin is like the wild wild west and i have lost money from reputable websites, from MtGox to Cryptsy and they've been in business way longer than you. And yes i'm based in the U.S and i buy my coins from coinbase which is a very reputable company with hundreds of millions of dollars in funding, an actual office in the state with FINcen, IRS etc licences and regulation. Other times, i've bought from localbitcoin in person, I meet the seller at a bank, he transfers my coins, I wait for at least 6 confirmations then i release the money to him all caught on tape and in a public space. Its all good though, good luck.

Clone2020:
You say you know ognasty and his escrow services, yet you refuse to use escrow. With escrow we are both protected, without it, I have no protection whatsover. Bitcoin is like the wild wild west and i have lost money from reputable websites, from MtGox to Cryptsy and they've been in business way longer than you. And yes i'm based in the U.S and i buy my coins from coinbase which is a very reputable company with hundreds of millions of dollars in funding, an actual office in the state with FINcen, IRS etc licences and regulation. Other times, i've bought from localbitcoin in person, I meet the seller at a bank, he transfers my coins, I wait for at least 6 confirmations then i release the money to him all caught on tape and in a public space. Its all good though, good luck.

Unlike other bitcoin exchange, NairaEx users brings their own bitcoin wallet and we don't store or hold users bitcoin. To sell bitcoin, simply create a sell order and the website will generate a bitcoin address linked to your account. Naira is deposited into your bank account within 1-4hours, depends on the bitcoin confirmation speed sometimes within 15 minutes.

Those exchanges you mentioned store users bitcoin which can be hacked and withdrawal of funds takes 2-7 business days including your coinbase.

We are regulated under Canada's equivalent of FINCEN - FINTRAC where we are launching our money transfer with planned expansion to UK & USA. http://cointelegraph.com/news/nairaex-launches-bitcoin-money-transfer-beta

NairaEx is a registered company and bitcoin exchange, if you want to trade in person, you can come down to our office in Ogun-state.