Nigeria's central bank advocates e-Naira as a 'safer alternative' to Bitcoin

The Central Bank of Nigeria [CBN] is not a fan of Bitcoin. And, this isn't a fact it has tried to hide either. Although Nigeria is among the top African nations using Bitcoin to transact, the central The post Nigeria's central bank advocates e-Naira as a 'safer alternative' to Bitcoin appeared first on AMBCrypto.

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Nigeria’s Central Bank Okays Peer-to-Peer Bitcoin Trading 

The Central Bank of Nigeria (CBN) has clarified its stance towards bitcoin (BTC) and other cryptocurrencies, making it clear that crypto traders in the country are free to carry out their operations on a peer-to-peer basis, as its ban did not outlaw the use of cryptos, but it’s rather an effort to protect lenders underRead More

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Nigeria's Central Bank Bans Bitcoin and Other Cryptocurrencies

Nigeria, one of Africa's largest cryptocurrency markets, has banned Bitcoin trading

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Nigerian Youth Propels the Country to the Top of Google Bitcoin Search Rankings

Nigeria, one of the biggest cryptocurrency markets in the world, recently emerged as the country with the highest number of bitcoin searches globally, according to Google Trends data. The data shows that the West African country has a search score of 100, which is more than double that of its nearest rival. Youth-Driven Interest According […]

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Nigeria Emerges Second World’s Biggest Bitcoin Market in Just Five Years

Analysis has revealed that Nigeria has emerged as the world’s second-largest Bitcoin Market, according to the citizens’ transactions in the last few years. Following the leading peer-to-peer bitcoin marketplace, Paxful’s record, the country has traded over 60,215 Bitcoin in the last five years.

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Bitcoin adoption in Nigeria soars as central bank blocks remittances in Naira

The Central Bank of Nigeria’s “Naira defense” policy is pushing more Nigerians toward Bitcoin and crypto adoption.

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Nigeria Is Paxful’s Second Biggest P2P Bitcoin Market, Trades Top $566 Million in Five Years

Nigeria, Africa’s biggest economy and most populous nation, traded more than $566 million worth of bitcoin between 2015 and 2020, making it the world’s second-largest peer-to-peer (P2P) bitcoin market after the U.

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Macro Investor Dan Tapiero on Crypto Adoption: Emerging Economies Ahead of Developed States

Bitcoin and gold holder Dan Tapiero, says it is still early to talk of widespread crypto adoption as the proportion of users relative to the rest of the population remains low. Tapiero makes the remarks while referring to a study, which places Nigeria at top of the list of countries with the highest number of […] The post Macro Investor Dan Tapiero on Crypto Adoption: Emerging Economies Ahead of Developed States appeared first on Bitcoin News.

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Bitcoin Comes to the Rescue of Nigerian Protesters as Account Gets Suspended

It’s been more than a week now that people across Nigeria have been protesting against police brutality and demand reform and accountability. The younger generations are using social media to document the event in real life to amplify their cause and counter false narratives.

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Dorsey promotes BTC donations to end SARS after Square buys 4,709 BTC

Jack Dorsey, the founder, and CEO of Square, a payment company, recently urged his 4. 8 million Twitter followers to donate bitcoin (BTC) to end police brutality in Nigeria. Dorsey promoted the BTC donations on behalf of a Nigerian group of feminists dubbed Feminist Coalition.

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Nigeria Protest Group Asks for Bitcoin Donations After Regulators Block Bank Account

A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian police unit, the Special Anti-Robbery Squad (SARS).

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Transfer Money in Nigeria Instantly with Cryptocurrencies using Cryptofully.com

Cryptofully. com is offering Nigerian investors from around the world to transfer money to Nigeria in a simple two-step process through Bitcoin. 12 September 2020, Lagos. Cryptocurrency owners can now send funds across the world to Nigerian Naira accounts without the requirement of registering on a new platform.

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Blockchain Bites: What Rising Inflation Could Mean for Bitcoin and the US Dollar

Bitcoin is a tool to avoid police extortion in Nigeria, centralized social media is being censored amid Thai protests and what Powell's address means for bitcoin.

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Unconfiscatable? Using Bitcoin to Resist Police Extortion in Nigeria

It's common in Nigeria for police officers to threaten and extort citizens for whatever money they can find. This man uses bitcoin as a hiding spot.

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BuyBSV.com expands to Russia, South Africa & Nigeria

As the Bitcoin SV blockchain expands so does the need for easy accessibility and as a result anyone can now buy Bitcoin SV (BSV) on BuyBSV.com with...

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Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US

Nigeria’s weakening naira currency, as well as the shortage of U. S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential equipment from abroad.

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Big Brother Nigeria Housemates Participate in Bitcoin Quiz, Get $500 BTC as Reward

Eighteen housemates of Nigeria’s version of Big Brother took part in a bitcoin quiz with each participant getting $500 worth of BTC as prize money. Big Brother Naija (BBN) reportedly agreed to this unusual step as part of moves to offer more than just entertainment to its audience.

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Nigerians Using Bitcoin for International Trade Despite Regulatory Uncertainties 

Bitcoin (BTC), the world’s flagship cryptocurrency is rapidly gaining traction around the world as a tool for international trade and commerce. Several forward-thinking businessmen in Nigeria are now using the blockchain-based digital currency to scale the hurdles of foreign exchange in the region, according to a report on August 13, 2020.

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Bitcoin Adoption Explosion in Africa, Led by Nigeria, Kenya, and South Africa

Bitcoin continues to gain traction in Africa, with Kenya being the most bitcoin maximalist country, with 94. 7% dominance. The top 10 list also contains Nigeria at the 5th spot and South Africa at the 6th spot.

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BTC Usage in Africa Intensifying, Nigeria’s Naira Posting Highest Volume After USD on P2P Exchanges

Bitcoin adoption in Africa continues to ramp up. On peer-to-peer bitcoin exchange platform, Paxful and LocalBitcoins, Nigeria's Naira accounted for $9 million of trading volume each week. This growing usage has Nigeria's Naira second most used currency after the US Dollar.

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South Africa, Ghana, Nigeria's affair with Bitcoin triggering continent-wide adoption

Developing markets have a lot to gain from many of Bitcoin's use cases. This narrative has played out predominantly in several parts of Africa and Latina America, especially over the last few years.

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Nigeria Becomes Eighth African Nation to Welcome Bitcoin ATMs

Despite having the largest Bitcoin trade volume in Africa, Nigeria is the eighth country in the continent to welcome a Bitcoin ATM

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3 Debit Cards Nigerians Can Use to Spend Cryptocurrencies in Stores and Online

Options to acquire cryptocurrencies in Nigeria have been growing in number, along with increasing interest in bitcoin. Nigerians are also starting to see more opportunities to spend their coins in brick and mortar stores and at online merchants.

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Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira

If there’s a place where cryptocurrencies draw significantly more attention than anywhere else right now, it has to be Nigeria. Africa’s largest economy is driven by its oil exports, expanding manufacturing, financial services, communications and information technology sectors, but also by a tech-savvy generation that asks Google about Bitcoin more than its peers in other […] The post Nigerians Can Now Buy Bitcoin With Cash From Stores and ATMs That Take Naira appeared first on Bitcoin News.

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Bitcoin and Gift Cards Are Powering a Million Dollar Remittance Market in Africa

How Nigeria’s $32.5 Million Plan B Is Taking Shape

The post Bitcoin and Gift Cards Are Powering a Million Dollar Remittance Market in Africa appeared first on Bitcoin Magazine.

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Nigeria's Bitcoin interest flies in the face of Central Bank's caution

Conceived as an alternative to traditional financial and banking solutions, cryptocurrencies have come a long way. However, despite mainstream recognition, there remain many, both in governments and mThe post Nigeria's Bitcoin interest flies in the face of Central Bank's caution appeared first on AMBCrypto.

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Bitcoin Usage in Nigeria Surging Despite Govt. Caveats

The Central Bank of Nigeria (CBN) has warned that bitcoin and digital currencies are not legal tenders but Nigerians don’t seem to care.   Bitcoin Adoption Rising Despite Apex Bank, Senate Warnings In its December 2019 edition of ‘The Nigerian Banker’, the Chartered Institute of Bankers of Nigeria (CIBN) highlighted how bitcoin is booming in Nigeria, despite the central bank’s anti-crypto stance.

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Jack Dorsey eyes African market

Twitter CEO Jack Dorsey spent November on an extended trip through Africa, talking with Bitcoin business owners in Ghana, meeting with tech startups in Nigeria, and talking up the region’s Bitcoin prospects.

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PR: Remco – Powerful Distributed Token Generating Platform

remittancetoken. io – Token-Generating Platform for Money Transfer currently trading on Digifinex has announced it's sponsoring blockchain Finance Lagos conference event in Africa's largest market, Nigeria.

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Nigeria: Speaker of the House of Reps Believes in Cryptocurrency and Blockchain

Nigeria’s Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila, has said that the proliferation of bitcoin (BTC), altcoins and distributed ledger technology (DLT) into the global financial ecosystem has made it quite critical for the most populous nation in Africa to formulate amenable regulations for its cryptospace in order not to be leftRead MoreRead More.

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West Africa Gets Serious with New Banking Technologies

Nigeria, the most populous nation in Africa has announced plans to officially adopt an open banking standard powered by new technologies such as distributed ledger technology (DLT), to promote transparency in the financial services sector, according to a report by local news source the Guardian on July 1, 2019.

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Spanish police arrest Bitcoin launderers in international credit card fraud case

Spanish police have arrested 35 people allegedly involved in an international counterfeit bank card ring which laundered its profits using Bitcoin. Criminals made more than $675,855 (€600,000) and laundered more than $891,250 (€1,000,000), according to local media reports.

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Top 10 Biggest Cities Now Googling For ‘Bitcoin’

Bitcoin economist, Tuur Demeester, has been Googling Google for the cities where ‘Bitcoin’ was Googled the most. Thankfully, he tweeted the results on Twitter. Top 10 Cities Googling Bitcoin Right Now 1.

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Bitcoin, Not Blockchain: People Feverishly Search for World’s First Crypto

By CCN: Around the world, the majority of searches related to cryptocurrency involve the word “Bitcoin,” a new report by ConsenSys concludes. Excepting a few Asian countries, most of the world wants to find information about Bitcoin.

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Bitcoin Searches Rocket to 13-Month High Amid ’60 Minutes’ Hype

By CCN: Google searches for bitcoin have climbed to a 13-month high, in tandem with its price spikes following the brutal 2018 crypto bear market. Google Trends tracks search interest for certain terms.

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Nigeria: Entrepreneur Uses Blockchain and Biotech to Tackle Oil Spill Menace

Chinyere Nnadi, a Nigerian entrepreneur based in the United States, is spearheading a drive that seeks to solve Nigeria’s oil spill menace. According to an article published by The Hindu on April 22, 2019, Nnadi is using the dual power of biotech and blockhchain technology to aid the noble cause.

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Nigeria: Users Accuse Paxful Bitcoin Exchange of Fraud and Illegal Account Closures

Aggrieved Nigerians are demanding that the country’s banking and financial regulators, as well as the Foreign Affairs Ministry (NIIA), look into allegations of fraud leveled against Paxful – a bitcoin peer-to-peer (P2P) exchange platform, reports The Guardian, April 6, 2019.

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Top 5 Countries Where Google Searches for Bitcoin Just Tripled

While the mass media warn people not to buy Bitcoin, the number one cryptocurrency just blasted through its 2019 ATH. The number of google searches for Bitcoin is skyrocketing again as well, especially in these five countries.

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Bitcoin Curiosity Went Parabolic During Tuesday’s Massive Rally: Google

Google’s trend explorer shows that global searches for the keyword ‘bitcoin’ more than tripled during Tuesday’s massive rally. Bitcoin Searches Spike as Crypto Market Booms While the precise number of searches was not available, Google’s backend algorithms determined Tuesday’s search volume by comparing it with the number of queries over time.

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Bitcoin Is Ranking High on Google Trends Again

The naysayers said it wouldn’t last. The public’s interest over the last 12 months dwindled along with the price. But now BTC is leaping into the green again, there are signs of FOMO setting in.

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Paxful Introduces AI-Powered, Biometric Verification to Improve KYC and AML

The peer-to-peer bitcoin marketplace Paxful announced today, April 2, 2019, that it’s introducing AI-powered identity verification to help improve know-your-customer (KYC) and anti-money laundering (AML) procedures on the platform.

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Dash Nigeria: Bitcoin Dominance Challenged By Unstoppable Adoption

Bitcoin is the undisputed global crypto king. Its dominance on exchanges stands at just over 50 percent, and it’s the standard by which all other cryptocurrencies are measured. However, in Nigeria, a dedicated group is carefully scripting a different narrative.

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Why Nigeria has the Potential to Make Cryptocurrency Dominant in Africa

At present, cryptocurrency is still yet to take its full course in any country on the African continent. With several hinderances from the government and traditional banks, it is nearly impossible for any cryptocurrency, be it Bitcoin or any other altcoin to receive full adaptation from African citizens.

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Trading Platform Paxful Completes Construction for Second School in Rwanda

Children in the Rwandan village of Kasebigege are being given a greater chance to pursue a sound education as construction on a new school, developed by bitcoin marketplace Paxful, has been completed.

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Outrage Over Union Bank of Nigeria’s Threat to Close Crypto-Related Accounts

Nigerian digital asset owners have reacted angrily to Union Bank’s threat to close all cryptocurrency-linked accounts. Investors have accused the local banking system of hypocrisy, asserting that banks are “unfit” and “scammers” that continue to steal from the poor through spurious charges such as ATM maintenance fees and SMS alerts.

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Nigeria’s Union Bank Threatens to Shut Down Cryptocurrency-Related Accounts

A large commercial bank in Nigeria has threatened to shut down an undisclosed number of cryptocurrency-related accounts without explanation. Lagos-based Union Bank claims that any decision to do so would be in line with the Central Bank of Nigeria’s (CBN) past warnings about cryptocurrency trading.

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Nigeria’s Opposition Leader Promises Cryptocurrency Policy If Elected President

Nigeria’s main opposition leader and former vice president, Atiku Abubakar, has said the country will adopt blockchain technology and cryptocurrency if he is voted into power. In his policy document, Abubakar revealed plans to create a legal policy that, among other things, will see blockchain and cryptocurrencies taught from primary school through university.

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Nigerians want Cryptocurrency, And They Want It Now

In 2017, the Central Bank of Nigeria (CBN) placed a ban on traditional banking systems to halt transactions in Bitcoin and other virtual currencies saying that the “Central bank cannot control or regulate Bitcoin”.

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