Topic: banks in 9ja that are most p2p crypto-friendly bank with fast transaction speed - page 2. (Read 272 times)

Wiwo, you know very well that no bank in Nigeria accept Cryptocurrency (Bitcoin). So no one is crypto friendly. Except p2p. If banks are crypto friendly they have to create platform in which Cryptocurrencies will be received and probably converted to Fiat if you don't want to sell it. Just like ramotatano app. There must be an app in the bank for Cryptocurrencies transaction.

You are contradicting the whole issue, all the transactions you made mentioned is not inline with the question Wiwo ask. Re-read it again. You are talking about Fiat Bank to Bank transaction and not crypto transaction. The exchange platforms, the vendor accept crypto to their Binance wallet and not to bank and send you Fiat money through their local banks. Crypto transaction is between your wallet and and vendor wallet. If what you are saying is the Cryptocurrency friendly transaction process then I will say all Banks are good probably it because of the network at the time transfer. But I don't think that what he means.

No bank be a mobile, online and offline banking is crypto friendly. It is only exchange platforms are crypto friendly. Op if I would restructured the topic, it should be "Which of the Crypto Exchange platforms in Nigeria is Good"?

I missed to add this to the first thread, that no bank is crypto-friendly when the head of the banks, the CBN do not support bitcoin and other cryptocurrencies. What should be regarded as crypto-friendly banks are banks that go into crypto businesses, but we have none. I remember when my friend in UK wanted to buy bitcoin, he bought it using his bank and kept by the bank which he is using. There is nothing like that in Nigeria for now and CBN is making it more impossible. Although, I do encourage noncustodial, not custodial means. But just trying to point out how banks are crypto-friendly.

As for Opay, Palmpay, Kuda and other Fintech, they have fast transaction time and they alert very fast, but there are many commercial banks like that as well.

I don't know which of the Nigeria banks that are crypto friendly,since we are to change our coins in an exchange before sending fiat currency into our local bank accounts. I was using union bank late last year and they performed well,in terms of fast payments and alerts. Another bank which I have used is Zenith bank. This bank are very poor in sending sms,which is the alert for confirmation of your transaction. There was a time after two hours of trade,I was waiting to receive alert but not didn't. I had to lay complain on the exchange and the merchant showed me prove of payment. It was then I had to check my account balance with my ATM card and behold my funds was in my account. I prefer the online banking platforms like Kuda,Opay,Palm pay since they are more crypto friendly than these other ancient banks.

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My advice is to never have just one bank account when you can open as many possible bank accounts. With this, you will be able to see the better ones for yourself which would even be more than one.

Also it is good to know that banks are centralized services, we should expect disappointments at times. This is one of the reasons we need more than one bank so that if one is having network problem, we can use the other one.

I do not know which banks I can suggest because I have not before read the complete terms and conditions of all banks that I am using, not to talk if all banks in Nigeria. I am only using them to keep little amount of money. But according to someone that have experience about banks, he told me sometimes ago that First Bank and Union Banks are better because they will be able to refund back your money if they lost customers money, this can be very wrong and I do not think it is correct and not based on my own understanding.

If I should suggest you a bank, Guarantee Trust Bank is good in fast transaction update.

Among the OPay Digital Services Limited, Palmpay and Kuda Microfinance Bank, these are young Nigerians favorites. Young Nigerians are the ones mostly in crypto, which would not be a surprise if they are choosing these three Fintech. According to what I have noticed about people around me, they prefer Opay, Palmpay is not bad to them at all, while Kuda being the third which they fear of the Fintech company no to go down at anytime because of the rumours heard. I consider Fintech as organizations that you should not have only the amount of money that you can afford to lose with.

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It is worth knowing that fiat receiver should not depend on alert for transactions, they should check the bank app or login through the web.

Note: cryptocurrency transaction what I mean is not direct bank involvement but their services in adding faster p2p transactions without crypto related key words as those are red flagged offense by the CBN

Why I think this topic is necessary, is because of the recent events in the Nigerian banking system and how the central bank is putting more attention to e-transactions and monitoring citizens' banking transactions.

Secondly why I created this thread is to also equip us with the necessary information as related to 9Ja bank vs cryptocurrency transactions, as we all are aware of the fact that the CBN have a blanket ban on the bank - cryptocurrency interactions and any account found guilty may get banned or blocked.

To this challenge, a lot of cryptocurrency traders and ordinary users have become sceptical about the on most of the banks we have in our financial system because we all know the attack from the bank of cryptocurrency most especially decentralized coins such as Bitcoin since they see it as a threat to their own existence.

So the ultimate question is.

Which bank in Nigeria do you think is the most cryptocurrency-friendly and you have used it for your transactions without any issues, in terms of network speed, availability of bank on P2p platform and what is the extent of your trust in them to not link your accounts to crypto and leaking your data to governments agency.
 
From my own experiences, I think the most cryptocurrency-friendly bank at the moment are

1: Kuda Microfinance bank
2: palmpay
3: Opay

The most crypto-unfriendly bank is.

1: standard chartered bank plc, from history this bank and is known for easily flagging customers' account so cryptocurrency users are advised to avoid using the bank for cryptocurrency transactions.

Ehe