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[sh199]

Recently, In an interview with Paxful(peer2peer digital asset exchange platform), CEO Ray Youssef said that

"Everyone should have all eyes on Africa right now."

He specially mentioned Nigeria for this crypto exploration. In a data, Paxful has around 1.5 million users only in Nigeria. He also added that new startups are now building to blow up the market.
What do you think about this statement? Does Africa has much potential to lead the crypto adoption?

 

[Niftyicon]

How are they working around the ban in Nigeria? Such businesses will either have to operate illegally or will never thrive in such an environment.

 

[GoldenLady]

Recently, In an interview with Paxful(peer2peer digital asset exchange platform), CEO Ray Youssef said that

He specially mentioned Nigeria for this crypto exploration. In a data, Paxful has around 1.5 million users only in Nigeria. He also added that new startups are now building to blow up the market.
What do you think about this statement? Does Africa has much potential to lead the crypto adoption?

As a market for entrepreneurs, Africa should not be ignored especially with the large population. Furthermore, a lot of Nigerians prefer cryptocurrency because of the devaluation of the Naira, and as a hedge against inflation.

 

[ElPaule]

I am very confident the potential of the African crypto market is not fully visible. The growth rates are just impressive and there are macro economic chances to lift Africa to a deserved higher wealth level. But since there are also so many experienced users, there is the need of customers/consumers protection.

 

[GoldenLady]

How are they working around the ban in Nigeria? Such businesses will either have to operate illegally or will never thrive in such an environment.

Binance has been thriving though. The government did not ban cryptocurrency itself, just prevented it's financial institutions especially banks from dealing with it. Peer to peer on binance is now the way if one wants to purchase cryptocurrency in Nigeria.

 

[Brain]

How are they working around the ban in Nigeria? Such businesses will either have to operate illegally or will never thrive in such an environment.

It is the same thing I'm thinking as a Nigerian. I wonder how this will play out in my country. I hope it will not be illegal transactions everywhere as usual

 

[BullyMaguire]

I don't think the government agrees that nigeria will be leading the world Cryptocurrency adaptation though seeing how they can ban it despite the number of their people who uses it

 

[Niftyicon]

It is the same thing I'm thinking as a Nigerian. I wonder how this will play out in my country. I hope it will not be illegal transactions everywhere as usual

Honestly, I am on the lookout on how the country/its government will react to the digital naira to be launched soon because I really don't see any form of sensitization that would make it very easy to embrace such.

 

[Brain]

Honestly, I am on the lookout on how the country/its government will react to the digital naira to be launched soon because I really don't see any form of sensitization that would make it very easy to embrace such.

You are right mate, I keep wondering same how this be done considering how things can easily go bad within the shortest time. But let wait it go out and see how it goes

 

[Kennysplash]

The ban on cryptocurrency does not affect its usage in Nigeria. In fact, the ban gave it more awareness. Besides, the use of cryptocurrency is not banned in Nigeria, they only ban transactions through the banking sector.

 

[Niftyicon]

The ban on cryptocurrency does not affect its usage in Nigeria. In fact, the ban gave it more awareness. Besides, the use of cryptocurrency is not banned in Nigeria, they only ban transactions through the banking sector.

Realistically, do you think that if the government had known about the p2p alternative, it wouldn't have made it ban policy a bit clearer and definite? It wasn't portrayed in so many words but the effects would have been the same.

 

[Razor1911]

Realistically, do you think that if the government had known about the p2p alternative, it wouldn't have made it ban policy a bit clearer and definite? It wasn't portrayed in so many words but the effects would have been the same.

But don't you think that is a complete ban here? I mean, there is no other thought when a government is completely banning the crypto market. Even doing p2p transaction would be restricted.

 

[Wisdom01]

Even with the current ban on cryptocurrency , I think Nigeria are still even leading ,there is obviously an increasing interest in making money online in the country too

 

[Kennysplash]

Realistically, do you think that if the government had known about the p2p alternative, it wouldn't have made it ban policy a bit clearer and definite? It wasn't portrayed in so many words but the effects would have been the same.

The government is helpless when it comes to ptp trade. There is nothing they can do about it, unless they ban all the crypto wallets. And that will certainly cause uproar.

 

[BullyMaguire]

Even with the current ban on cryptocurrency , I think Nigeria are still even leading ,there is obviously an increasing interest in making money online in the country too

Given the circumstances.. earning money online is probably the easiest for the people but the government choose to make it hard for them when they can just support them and make them feel secure

 

[Wisdom01]

Given the circumstances.. earning money online is probably the easiest for the people but the government choose to make it hard for them when they can just support them and make them feel secure

The government are making it hard since they don't want many to get rich and want to use the money they have to suppress people b

 

[BullyMaguire]

The government are making it hard since they don't want many to get rich and want to use the money they have to suppress people b

That's harsh bro. Governments are supposed to give and open opportunities for their citizens not take it away.. i hope they reconsider lifting the ban

 

[Wisdom01]

That's harsh bro. Governments are supposed to give and open opportunities for their citizens not take it away.. i hope they reconsider lifting the ban

It's the level of democracy most country are into up till this extent ,the ban would be lifted definitely as time goes on if maybe there is change in government or government change their idea

 

[a_jerobon]

Africa is really doing a great job in cryptocurrency adoption, though it is mostly an individual effort as governments have not fully approved them. Indeed Nigerians are the most enthusuastic about the cryptocurrencies.

 

[Wisdom01]

Africa is really doing a great job in cryptocurrency adoption, though it is mostly an individual effort as governments have not fully approved them. Indeed Nigerians are the most enthusuastic about the cryptocurrencies.

Yeah it's most individual effort and despite not encouragement from the government , the citizens are not ready to stop the use of it , but ready to continue to adopt it