But hey this is not the ban from Nigerian government, just banks don't want their customer to involve in any crypto related activities but still they can simply use a stable coin pair for crypto trading and keep making profits, the only difficulty will be converting those profits into fiat. But due to this ban people will be started to use decentralied peer to peer like Localcryptos.
When banks are involved and in the case of Nigeria which is Central Bank of Nigeria, I think that it will be enough that there will be a government intervention. We should know that banks and governments protect each other despite both of them scheming to get one up against the other. This ban in my opinion will not stop people from using cryptocurrency because the masses always yearn for freedom and the moment that they feel that their freedom is threatened, they will do anything to escape the grasp. 
Topic: Nigeria is now the No.2 bitcoin market on this fast-growing global marketplace - page 2. (Read 176 times)
February 07, 2021, 04:43:05 AM
February 07, 2021, 03:20:33 AM
law enforcement will deactivate their bitcoin wallets.
Bitcoin wallets can't be accessed by anyone, so users have to give the private keys if the government want to seize those funds. But hey this is not the ban from Nigerian government, just banks don't want their customer to involve in any crypto related activities but still they can simply use a stable coin pair for crypto trading and keep making profits, the only difficulty will be converting those profits into fiat. But due to this ban people will be started to use decentralied peer to peer like Localcryptos.
February 06, 2021, 03:27:07 PM
Nigeria by the below data is the second largest user of pax to bitcoin and now the CBN has issued an instruction to banks to go after cryptocurrency account and pull them down. What effect do you think this could have on the bitcoin as Nigeria is fast becoming a large investor in the bitcoin market or is it just going to be one of those news coming from China on cryptocurrency ban and yet bitcoin kept moving higher.
For almost a week, I faced this case with several media outlets, and I think the impact would be huge, if bitcoin users and investors in Nigeria faced the fact that their balances in their accounts were frozen. The first thing is that the bitcoins they hold will be immersed before they are completely free from punishment. then until the next drop in the number of bitcoins that are considered lost as banks and law enforcement will deactivate their bitcoin wallets.
February 06, 2021, 02:20:19 PM
Nigeria by the below data is the second largest user of pax to bitcoin and now the CBN has issued an instruction to banks to go after cryptocurrency account and pull them down. What effect do you think this could have on the bitcoin as Nigeria is fast becoming a large investor in the bitcoin market or is it just going to be one of those news coming from China on cryptocurrency ban and yet bitcoin kept moving higher.
Binance already issued Notice Of Temporary Suspension Of NGN Deposits
Country Volume $ Country Volume BTC
USA $3,755,463,837 USA 535,660
Nigeria $566,668,692 Nigeria 60,215
China $181,329,392 China 20,553
Canada $131,108,721 Canada 15,367
UK $119,440,278 UK 11,169
India $94,794,948 India 10,017
Australia $75,643,905 Australia 7,050
Kenya $55,292,942 Kenya 5,895
Philippines $22,733,649 Vietnam 3,323
South Africa $18,935,812 Philippines 2,121
https://www.google.com/amp/s/qz.com/africa/1947769/nigeria-is-the-second-largest-bitcoin-market-after-the-us/amp/
Binance already issued Notice Of Temporary Suspension Of NGN Deposits
Country Volume $ Country Volume BTC
USA $3,755,463,837 USA 535,660
Nigeria $566,668,692 Nigeria 60,215
China $181,329,392 China 20,553
Canada $131,108,721 Canada 15,367
UK $119,440,278 UK 11,169
India $94,794,948 India 10,017
Australia $75,643,905 Australia 7,050
Kenya $55,292,942 Kenya 5,895
Philippines $22,733,649 Vietnam 3,323
South Africa $18,935,812 Philippines 2,121
https://www.google.com/amp/s/qz.com/africa/1947769/nigeria-is-the-second-largest-bitcoin-market-after-the-us/amp/
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