MUST READ: Bitcoin And Other Crypto Ban In Nigeria? FIND OUT NOW
Many people are confused about the status of bitcoin and crypto in Nigeria. In this post, I want to address these concerns.
Is Bitcoin banned in Nigeria?
The answer is no; according to a memo released by the central bank of Nigeria, bitcoin and other cryptocurrencies were not banned here; rather, financial institutions (Banks) were prohibited from interacting with crypto. That means you can't purchase or withdraw directly from your bank account.
People in Nigeria buy and sell their cryptocurrencies through peer-to-peer platforms, just like the one we have on the Binance exchange. We look forward to seeing banks fully involved in crypto once again.
Do you think Nigeria has what it takes to become a crypto hub in Africa?
Share your views.
