OKX has stopped its p2p service for Nigerian customers - page 3.

Antotena

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Quote from: Coyster on May 03, 2024, 05:50:13 AM

E be like say the fight against crypto by our government no go stop anytime soon, so e better make everybody begin protect themselves and their funds, they might start blocking bank accounts at the slightest suspicion of any involvement in crypto transactions.

There where speculations that the platform was used to manipulate the usdt p2p market and if this is true, I support the motion that they willingly exited before the government comes for them because they are making USDT/NGN trade as a tool for manipulating the FX market and this is pushing the government to finally make crypto an unfriendly environment. Yesterday, moniepoints announced that they are going to be suspending any accounts engaging in crypto transaction and today, Opay released the same memo, this is giving crypto a bad name.

I just think that Tinubu government doesn't want to be too strict because of his reelection in the second term, if all this naira manipulation were to be in his second tenure, they would have ban crypto but for now, they are playing politics.

Igebotz

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Quote from: nelson4lov on May 03, 2024, 10:16:31 AM

The Government doing everything possible to make crypto seem like the culprit for the worsen economy. One thing I learnt from the Binance P2p shutdown was the fact that the problems in the country span far beyond P2p market. The economy is generally weak. They're going to go after Bybit next. It's no brainer at this point. I would be pleasantly surprised if decentralized p2p markets come up and govt tries to attack them too as they have done the centralized ones without knowing it's not going to work.

After Bybit is taken down, we'll go back to WhatsApp and TG groups before decentralized p2p markets make their stand? It needs to happen soon.

Decentralized exchanges are there ready to use but the volume is extremely low for Naira p2p trading since most Nigerian do not know much about DEX exchanges and how it works - CEX makes p2p very easy and safer that's only reason it's more popular.

Back to the old traditional p2p ? Money go loss oooo, the only best way I see is Bitcoin to gift cards then trade it to Naira.

nelson4lov

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The Government doing everything possible to make crypto seem like the culprit for the worsen economy. One thing I learnt from the Binance P2p shutdown was the fact that the problems in the country span far beyond P2p market. The economy is generally weak. They're going to go after Bybit next. It's no brainer at this point. I would be pleasantly surprised if decentralized p2p markets come up and govt tries to attack them too as they have done the centralized ones without knowing it's not going to work.

After Bybit is taken down, we'll go back to WhatsApp and TG groups before decentralized p2p markets make their stand? It needs to happen soon.

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Quote from: Coyster on May 03, 2024, 05:50:13 AM

If you are an OKX user here, you must have found out by now that you can no longer trade crypto for Naira in that platform. E be like say our government don secretly warn this platform and told them to stop offering trading in Naira for Nigerians. First it was Binance, now it is OKX, i dey believe say very soon trading in Naira in centralized exchanges no go dey possible again.

I raised alarm about some duvious movement on the p2p marketplace on the other forum a few days ago - there are few p2p Marchants ( could be Govemment agents) coming on these marketplace to set a ridiculous rate to score cheap point and to have reasons to go against these platforms.. there was this Marchant who set his buying rate at N1,500 while the official black market rate was between N1,300- 1,350.

I suspect something like this would happen - the Govemment and Nigerians are careless about everything. Tbh.

Doan9269

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Quote from: Coyster on May 03, 2024, 05:50:13 AM

If you are an OKX user here, you must have found out by now that you can no longer trade crypto for Naira in that platform. E be like say our government don secretly warn this platform and told them to stop offering trading in Naira for Nigerians. First it was Binance, now it is OKX, i dey believe say very soon trading in Naira in centralized exchanges no go dey possible again.

E be like say the fight against crypto by our government no go stop anytime soon, so e better make everybody begin protect themselves and their funds, they might start blocking bank accounts at the slightest suspicion of any involvement in crypto transactions.

I don't know why the government continue to see the wrong vision concerning the win of the naira currency with dollar gaining momentum steadily, this is not about the crypto exchanges, they are not the ones causing naira devaluation against dollars, the country economy is bad and if nothing is done to tackle on this, things will always remain the way they have been, stopping the use of p2p will not be the end of the use of USD in Nigeria, there are many dependencies in the economy whereby we make use of the foreign exchange in achieving them, including the ones being under the control of the government, they also have to use dollar in some certain extent.

Nwada001

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Another one down; which one is next? It's just a matter of time before they finally reach all centralised exchanges and disable anything that has to do with NGN on their platform. They are on the losing side if they don't even know it, and their way of tackling all these things won't bring about any positive change.

Just like they did last time they banned crypto, there has been the rise of P2P trades on all platforms, so if they eventually succeed in getting NGN trade off the centralised market, then people will start fully using Dex.

There will always be a way, and when they want to regulate all these exchanges and want Nigerians to use them back, it will be way too late for them as better options will already be adopted by Nigerians.

SmartGold01

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Quote from: Charles-Tim on May 03, 2024, 07:02:09 AM

Quote from: SmartGold01 on May 03, 2024, 06:55:22 AM

Well today very early in the morning I was trying to see how I can some p2p trade I noticed my app wasn't loading correctly so I had to go back to play store to update my app, after which I tried going back to the p2p trade all to my noticed I found out that NGN has been disabled and I was like what's really happening here. Which way forward our country people, if time not taken same thing will be applicable to the rest exchange and please could you guys ref me the best place to buy NGN.

It is worth knowing that the removal of naira P2P on OKX is not the cause of the exchange app not to load. There are sometimes the exchange app may not load. Although not common. I mostly experience that on Binance.

But sometimes if I uses VPN I got it easily accessed without even incurring much difficulty.
Yes, Binance during their period if removing p2p priors to their notice I keep observing that the app has been malfunctioning like not allowing Nigerians to have smooth access to the site, that was then a friend told me to download VPN after which it works smoothly without evening keep loading the window.

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Quote from: SmartGold01 on May 03, 2024, 06:55:22 AM

Well today very early in the morning I was trying to see how I can some p2p trade I noticed my app wasn't loading correctly so I had to go back to play store to update my app, after which I tried going back to the p2p trade all to my noticed I found out that NGN has been disabled and I was like what's really happening here. Which way forward our country people, if time not taken same thing will be applicable to the rest exchange and please could you guys ref me the best place to buy NGN.

It is worth knowing that the removal of naira P2P on OKX is not the cause of the exchange app not to load. There are sometimes the exchange app may not load. Although not common. I mostly experience that on Binance.

SmartGold01

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Well today very early in the morning I was trying to see how I can some p2p trade I noticed my app wasn't loading correctly so I had to go back to play store to update my app, after which I tried going back to the p2p trade all to my noticed I found out that NGN has been disabled and I was like what's really happening here. Which way forward our country people, if time not taken same thing will be applicable to the rest exchange and please could you guys ref me the best place to buy NGN.

Coyster

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Quote from: Amphenomenon on May 03, 2024, 06:01:51 AM

Actually this changes was probably done today because I still remember doing p2p there yesterday.

Yes, this morning, the news is not everywhere yet, but you can find it on Twitter. So many people were trying to trade crypto for Naira on OKX this morning, but they found out that they couldn't do so, after inquiring about it in OKX's official "Help Desk" page, they got the information i posted in the OP.

Quote from: Charles-Tim on May 03, 2024, 06:09:30 AM

We have incompetent government and regulators. They should continue to tackle their incompetence in a wrong way.

So incompetent, our government no know wetin dem dey do, and it is very typical of them to go after things that are not the cause of the actual problem.

Charles-Tim

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That is why decentralized exchanges are existing. The liquidity is small but I believe as naira P2P is banned on centralized exchanges, likely the liquidity on decentralized exchanges might increase.

We have incompetent government and regulators. They should continue to tackle their incompetence in a wrong way.

Amphenomenon

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This is just becoming more annoying, they are going for the top exchanges, maybe soon Bybit will just do the same, I really will like to know the essence of all these.
Actually this changes was probably done today because I still remember doing p2p there yesterday. What annoy me most in all these is from the fact it is clear this is not the main problem in our naira devaluation.

Quote from: Coyster on May 03, 2024, 05:50:13 AM

E be like say the fight against crypto by our government no go stop anytime soon, so e better make everybody begin protect themselves and their funds, they might start blocking bank accounts at the slightest suspicion of any involvement in crypto transactions.

I think that news earlier this year about the unbanning of any crypto related transactions from CBN was just to lure others in order to do this because the way they are acting now is way off from those who support cryptocurrency adoption.
Thank God fee is currently pretty low, we can try using https://peachbitcoin.com/ or any other DEX from here https://kycnot.me/

Coyster

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If you are an OKX user here, you must have found out by now that you can no longer trade crypto for Naira in that platform. E be like say our government don secretly warn this platform and told them to stop offering trading in Naira for Nigerians. First it was Binance, now it is OKX, i dey believe say very soon trading in Naira in centralized exchanges no go dey possible again.

E be like say the fight against crypto by our government no go stop anytime soon, so e better make everybody begin protect themselves and their funds, they might start blocking bank accounts at the slightest suspicion of any involvement in crypto transactions.

Topic: OKX has stopped its p2p service for Nigerian customers - page 3. (Read 532 times)