Nigeria’s crypto exchanges and the impact of exchange rate volatility
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Cryptocurrencies are making a difference worldwide due to their flexibility to be converted into any currency worldwide. Though cryptocurrencies are brilliant investments, Nigerians face trust issues when investing in them. Stakeholders, including banks, the government and its agencies, businesses, active accountants, etc., are concerned about the emergence of cryptocurrencies and their future. Cryptocurrencies’ development has given Nigerians and the government some reason to reflect. As a result, the Central Bank of Nigeria warned Nigerians, advising them against adopting privately produced cryptocurrencies. However, cryptocurrencies may have some advantages in the Nigerian economy. Nigerians’ experience with the different ponzi scams has led
According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go…
Despite the recent introduction of a new regulation in Nigeria that would see the suppression of P2P crypto exchanges, the attention and interest in Bitcoin remains unchanged and generally high within the African country. According to the latest data from Google Trends, the stringent regulation proposed by President Tinubu and…