₦airaland Forum

happiness440:
The short answer is yes, proprietary trading firms in Nigeria are subject to regulation and require approval from the Securities and Exchange Commission (SEC) Nigeria, but the specific requirements depend heavily on their structure and activities.

Please explain more.

happiness440:
Thank you. This category of business is even highly regulated as they require not just SCUML but the approval of Securities and Exchange Commission in Nigeria.

Does a prop trading company require Sec approval?

You did not include Prop trading firms, Forex trading firms, and other financial trading firms. Don't they need SCUML too?

If you want to attempt the next leg of ELON (DOGELON), now is the time. 5:45pm. SL at 0.00000029.

Anyone on Xion? Any prospect in that coin?

DOGELON Mars

Who's in ELON?

seanwilliam:
Incase you go offline after recieving payment ni

When I'm there staring at the chat box and keep chat with the buyer? It kind of feels unsafe for who I don't know to collect my phone number in this emperor's govt that they are arresting crypto traders.

why do p2ptraders on byb ask for phone number?

Can someone explain this?

Or are they emperor's agent?

Valwezzy:
They don’t accept NIN SLIP — just use your BVN, it’s super fast.

Thank you

Please who knows if Bybit accept NIN slip for verification?

I could see BVN verification on the site. Does the BVN method require a card?

OKX is leaving guys.

Sometime ago, I predicted that the emperor would want to capture the crypto industry in naija, as he had done in almost all sectors.

Soon, Nigerians will be forced to transact only on his platform.

Wait for it...if it's not already here with us. This Zone network might be it.(https://nairametrics.com/2024/07/10/zenith-bank-first-bank-and-uba-join-other-banks-on-zones-decentralized-payment-network/)

And if so, I can bet on it that he is a major stakeholder via his stooges.

who has used Cleva USD virtual card here? What's the experience like?

boss iLegend please do you know any reliable virtual USD card that accept usdt or wise funding?

iLegendd:
No energy or passion for that yet.

Boss, please explain "ineligible" for the girl wey we dey manage. I be jjc for her matter......just verified levels now and want do one quickie. Many of them babe ads dey scream "ineligible"

iLegendd:
And yours too. You've done lots of amazing job here.

Good morning boss. Please could you open the telegram channel for someone to ask questions regarding exchanging usdt to naira?

iLegendd:
I have discovered some decentralised P2P. Yes, the government is watching and they already know about them, but since it's a DEX, it's above their power, hence I'm sharing it.

Disclaimer: I'm not a P2P merchant. My monthly income comes in Dollar, so I use P2P to convert to Naira. That is not a crime.

Also, there are some exchanges you can use without KYC and they've been running for 5+ years, but for now, let's focus on DEX P2P.

I'm not into DMs or private chat, so I'll post it here.

Same here. Just need a secure way to convert my USD income to naira. Glad there is a DEX p2p for naira. Thank you for sharing.

I have the feeling that the emperor, through his cronies, will create a crypto firm in the coming months where they want all Nigerian crypto enthusiast to trade on. The long-term game is about inserting themselves in the crypto world as the main player in the Nigerian market. Like I said earlier, the emperor cannot afford not to insert himself in the crypto world like he did in most businesses sectors.

iLegendd:
The channel has been created and we'll look for 2-3 admins. To join, search for CIT on Telegram or use the link.

t..me/citNairaland (remove one dot).

What is left is the group. For the channel, it's open to every living thing.

Good one boss. I'm interested in the group too.

iLegendd:
P2P of 3 exchanges permanently down.

More than 20 are still active. The good thing is, some exchanges are stubborn. They don't even listen to the American government let alone the Nigerian government.

Currently, it's 1400-1430/$. If they close Bybit, it will hit 1500/$. If they continue, they'll create scarcity and it will be 1900-2k/$.

But wait o! E be like say the underdogs in govt. are actually manipulating the market. They brought it down to 1180 and converted all their Naira to Dollar.

Now they want to use scarcity to push it to 2k so that they'll sell and and make 100x profit, then they start defending the Naira with our reserve to push it back down to 1k/$ and the manipulation continues.

These people see innocent Nigerians as the corrupt ones, not them.

Now, you understand the game. We have shouting about it on Twitter. The emperor and his cronies are so greedy that they can't see this game and let it pass over them without colonizing it....not in his character. He will milk this country so tee you will begin to wonder if he will live to 1000years.

iLegendd:
Secret!

Don't loud it.

Keep some USDT specifically for coins that'll launch after BTC halving. E get why. Trust me, e really get why.

These coins that launch after BTC halving, their shakara too much. They pump as if they're using jet fuel. Especially those ones that will launch around late May and early June.

Chief. Always dishing out alphas. thank you sir.

Please I want to order either of these products from Alibaba (https://www.alibaba.com/product-detail/AC-220-240V-110V-Pure-Sine_1600965140180.html?spm=a2700.details.you_may_like.2.59c7734fDrP9hx) or (https://www.alibaba.com/product-detail/Bawei-2000W-2500W-220V-230V-EU_1600979191466.html).

But the problem is that I have not ordered something from there before, so don't know how it works. Please do you know :
1. if naira mastercard can be used for payment and if not, if there is another payment method.
2. how long it normally takes to get the delivery and whether it would be home delivery or I need to go and clear the product first
3. how to track the shipment and delivery.

Thank you so much sir.

cryptodotcom website no longer opening

just read NG government blocks access to some crypto exchanges

https://twitter.com/WatcherGuru/status/1760696670860284058

GRACEGLORY:
I will discuss here the conclusions I have drawn from my excessive reading and studying.

In December, real personal expenditure increased by 3.2%, according to the US Personal Consumption Expenditures (PCE) report. It's common knowledge that 70% of the US economy is driven by consumer spending.


You would have noticed that the stock market has recoded six consecutive record high closes if you have been following along.

The data is being closely examined by Wall Street's elite, and they're seeing that the economy is experiencing a significant upturn rather than being on the verge of a recession. But Jeremy Powell won’t come out to tell us that. Instead, he speaks hawkish. You see there’s been no rate increases, but multiple pauses.

Don’t panic sell/dump your holdings. Now is the time to buy aggressively. Possibly the last stage of accumulation. Less than three months remain till Bitcoin's halving.


Here's the catch: an economy thrives when consumers spend more money. Consumers in the US are spending. The United States could afford to back both the Israeli and Ukrainian wars at the same time, according to the secretary of state, last year. A recession-stricken nation will not be inclined to fund wars.

Have no doubts about this rally. Buy the dip when necessary.

Friends, it's bull season.
Prepare your skateboard and let's surf this wave together.

I don't fully agree with you. Yes, the US economy is thriving, but the last CPI data showed an increase, rather than a gradually sustained decrease the fed wish for. So, while the fed won't definitely announce today that they may increase interest rate further, they will closely monitor the data for that possibility in the future, and you know what that could mean if another set of hike is coming in the horizon.

The current crypto bull run won't be like that of a 2020-2021 that was fueled by low-interest-rate money and especially the free covid-19 money, where everything was just flying up doing 100x and even 1000x. This bull run, though will last longer, will be gradual and very tortuous....it will be that of a maturing market.

Let's keep our expectations low and hope for the best.

seunmsg:
It’s so easy to call people abusive names simply because we can’t reason with them. If all of us continue to change every single Naira we earn to dollar only to save them in dom accounts instead of using same for productive purposes that can earn more forex for the country, how then do you think we can bring down the exchange rate and strengthen the Naira?


The dollars we keep buying and saving in dom accounts, where do you think it is coming from? You guys really think the CBN governor has a magic wand to create dollars to satisfy everyone’s need?


Dollar is now over N1400 and Nigerians are still mopping up all available dollar supply in the market. That goes to show that people are making money from the local economy as making money in Naira is not the problem. Now, how do you guys think we can sustain the purchasing power of the local currency if all of use keep converting Naira to dollar for majorly speculative reasons? Will keeping money in dom accounts generate more dollars for the next set of guys who also want to buy dollars for same speculative reasons?

Funny one-sided argument. people who earn USD abroad and want to bring the usd back to nigeria do so via dom accounts. If CBN follow this funny argument and do as you said, those usd aren't coming back to nigeria.

Using myself as an example, I anticipated this kinda reasoning immediately BAT took office and tried to use up my dom account by embarking on a project. As I noticed that the government didn't follow up on that up till now, I started contemplating remitting usd directly to my dom account again. If this your funny argument is coming back to their consciousness again, then I shelf the idea of bringing back to dom account. It's that simple.

If I think this way, the big boys and businesses are thinking the same. USD will run from Nigeria patapata.

iLegendd:
Coinbase is the worst exchange for foreigners. Always forming boss. I had an account with them back in those days, but never used it. They act too secretive, segregative and restrictive like the American government.

If you want to know the exchange a coin is, type it on CMC app, click it, click on Market and you'll see all of them. If you want to know if it's on derivatives, click on it.

thanks, boss

Coinbase says it doesn't accept new clients from Nigeria.

where else can I buy Dimo and Hivemapper?

iLegendd:
If so, it's only their customer service that can be of help. Or, try and reverify. I did reverification in some exchanges back in the days after I didn't use them for some months. OKX may even be one of them. This is as far as I can help.

Okay boss, thank you so much.

iLegendd:
I used int'l passport in 98% of all exchanges I registered on and they were seamless. Most of these issues occur when you don't use drivers' licence or int'l passport. It's good to have one of them even if you aren't travelling yet or own a car.

I used driver's licence for my verification. and the expiry is still end of 2026 (december 30th or so)

iLegendd:
Exchanges have different levels of verifications. The higher your level of verifications, the more money you can send, deposit, or hold in the account.

In most cases, level 1 or level 2 verification is more than enough. Level 3 verification is when you want to transact millions of Dollars in that account.

In your case, level 1 is more than enough. I use level 1 verification on OKX. There is a transaction limit to it, but it's enough for my trade.

Thank you for your response. My question why are they still asking me to update my verification even though it has been verified and it says it on the page. The worst part is that their support page is completely run by a bot. I don't know if there's a way I can chat with a human agent on their support page. I have tried everything, it's just bot giving me automated responses.

I got this message from OKX:


"Update your ID verification
To comply with laws and regulations, update your verification within 6 days to avoid account restrictions"


Yet the verification page says this in the picture. Please who can explain why?
@ILegendd, please can help?