In 2017, two of Nigeria’s most important regulatory authorities — the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) released circulars denouncing cryptocurrencies.
At this point, you must already be fantasizing about how valuable cryptocurrencies must be now and how crypto traders must be smiling to the bank. Unfortunately, that is nowhere near reality. Holders of the popular cryptocurrency, Bitcoin, have been counting their woes since the novel virus went on a global rampage. Here is why.
The Story so far Iran has been known to consistently struggle with segregation from global payment systems, limitations on its nuclear programme and oil export, due to the United States sanctions over the years. The situation worsened recently after the re-imposed U.S. sanctions forced Iran to engage in traditional banking. SWIFT banned major Iranian banks […]
Cryptocurrencies are digital assets designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Terms such as digital currency, and virtual currency are used in place of crypto currency. As the numbers of persons involved in cryptocurrencies […]
Introduction “In this world nothing can be said to be certain, except death and taxes”Benjamin Franklin Cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets. The ‘coin’ carries value which can […]
Bitcoin Flashback to 2009 when the Bitcoin was launched by an individual or a group known under the pseudonym “Satoshi Nakamoto”. It was the first cryptocurrency to capture the public imagination. As at May 2018, there were over 17 million bitcoins in circulation with a total market value of $140 billion. Today, the total […]
“Gee, what’s up? I have 0.4 bitcoin ready for market. Got any interested clients? ” “Eeyahh! I just outsourced same request from a client to another friend since I couldn’t meet up with the demand. So far you agree to my 5% commission, I’ll get you a buyer within a week” That’s […]
According to a 2018 publication by Bloomberg, Nigeria is currently ranked the most likely nation in the whole of Africa to adopt cryptocurrencies. In addition to the fact that the country is a hot bet for cryptocurrency, it ranks first on Google trends in bitcoin-related searches. Despite this, the country has refused to adopt the digital […]