The sooner you find an alternative the better

Makus

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Quote from: Gormicsta on March 27, 2024, 06:09:13 AM

But seriously, na serious situation we dey face for Nigeria as e concern crypto. No be only binance wey Federal Government wan cause problem, other exchanges dey under threat, and as you talk am, the effect fit go extend to crypto community for the country as a whole.
But make we no just dey focus on di negative side alone. As you know, e fit make this issue push more people to di crypto space, e fit make people take di matter go court, and if we fit be optimistic, make we imagine say all this issues fit help in the long run as e go force the government to dey do proper research and realize say crypto na im be the future of finance.

My brother, with the way the federal government dem dey present this crypto matter, I no sure say e dey make look good or even add benefit to crypto, rather e dey spoil our reputation and cryptocurrency reputation. Because I no understand wattin reach to arrest exchange official in the first place, though I hear say e don escape but that fit even put fear for other exchange body make them for make changes to remove us from p2p totally.
E get one thing about this our government and that na be say even when them know say this thing wey Dem dey do na bad thing, them go just carry their face look another direction with the mindset say, this na my turn to me, this cryptocurrency matter na to just use am destroy the reputation of the cryptocurrency so that, the citizens without knowledge go say crypto na scam meanwhile those wey know the benefits no much like that.

Gormicsta

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But seriously, na serious situation we dey face for Nigeria as e concern crypto. No be only binance wey Federal Government wan cause problem, other exchanges dey under threat, and as you talk am, the effect fit go extend to crypto community for the country as a whole.
But make we no just dey focus on di negative side alone. As you know, e fit make this issue push more people to di crypto space, e fit make people take di matter go court, and if we fit be optimistic, make we imagine say all this issues fit help in the long run as e go force the government to dey do proper research and realize say crypto na im be the future of finance.

iBaba

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Quote from: Cryptoprincess101 on March 02, 2024, 05:33:44 PM

The only thing that baffles me is that a lot of scammers would take this as an advantage for them to scam people more especially the newbies so everyone have to be very careful with the exchange they want to use and as well ask questions from experienced individuals in the crypto industry so that you don't fall a victim to scams.

I agree with you that there are plenty of alternatives to Binance, but the main issue, as you mentioned, is the problem of scamming. Binance has managed to earn the trust and reliability of its users. Therefore, many people have chosen to use Binance exclusively for exchanges due to their positive experiences with the platform. Although I have personally tested platforms like KuCoin and found them to be performing well, I remain cautious, especially with certain P2P activities, as I don't perceive them to be as secure as Binance.

Removing Binance from the Nigerian market could have significant negative impacts on some users, as they may be hesitant to switch to other platforms initially. However, if it ultimately benefits the country, then it might be the right decision.

Gormicsta

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Truth be told, if we no get an alternative as a Naija person for this economy pressure we dey like so, we no go survive am at all, to get alternative really dey important because say things no dey go as we plan or things no they fall for our own favour, if we no get alternative whether na for money side o, or anywhere at all, to get alternative dey really necessary, especially when it comes for work, that is work wey go dey pay you money, no be only one work, we supposed work again, we supposed get side work even if na hard work too, dey work for company dey also do your hand work small small especially if e don red for us, or if company or person wey you dey work for never pay you on time, you fit use that handwork dey guard yourself for the mean if not hunger and debt go kill us, Sha anything wey person they do for life require to get alternative so that if plan A no work plan B go work, na so life be now o, no be to dey depend on one thing o, if not na suffer we dey suffer and no be to dey wait first to see if plan A go first work before you go start to think of another way, the world don they exposed o so make everybody shine their eyes.

Dailyscript

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I i know that we are fully concerned about the actions that the government has taken and how they have affected Binance and the users of Binance in Nigeria, but there is no alternative to the Binance platform. My reasons are that Biancne has been one of the most trusted centralised cryptocurrency exchanges that has stayed for years, and the level of security there has made so many Nigerians invest in cryptocurrencies with full assurance that there coins are safe. And that is why it would be difficult for any investor in Nigeria to just wake up one morning and send his coins to a different centralised exchange. It will take some time for those exchanges to win the trust of Nigerian investors, and during this time, there will be a slow movement of investors that will be willing to taste those exchanges.

AVE5

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Quote from: teamsherry on March 02, 2024, 05:04:22 PM

For most of us wey dey use crypto almost every day and get some of our value stored inside, we know say binance na our most preferred and probably the only online exchange wey most of us dey use use for the country, federal government don tie their hands, dem don even charge them untop am, this matter fit long pass like this and binance fit no gree pay any fine wey federal government go give them so easily, them go want do stubborn head so some negotiations go dey, so instead of you to dey wait till dem ban binance for the country start to find alternatives.

I for say make una go for other exchange like kucoin but we never know if fg eye go reach all the exchange or if na only binance for now.
I come hear say we get some p2p vendors for Nigeria here wey get good rates wey fit trade our coins give us cash for our country here but the only problem na say scam people plenty inside and to find legit one go hard unless by recommendation.

I read through one thread and I see say our boss cryptobrainboss dey run am too, so if things cast na to petronize am be that.

Op try to be specific other times. You said Binance was almost and only exchange we Nigerians uses for exchange and there you can recommending Kucoin exchange again.
Well, other exchanges has been affected that we Nigerians can't have access to it again just as we can't access the Binance exchange again. Exchanges like OKX, BTC, ByBit OKX are all that affected. But I must tell you Op that Binance was only a global dominance exchange and has played an influential role here to our local investors and not that it was the only option we could trade our assets for exchanges.

Promocodeudo

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Quote from: teamsherry on March 02, 2024, 05:04:22 PM

For most of us wey dey use crypto almost every day and get some of our value stored inside, we know say binance na our most preferred and probably the only online exchange wey most of us dey use use for the country, federal government don tie their hands, dem don even charge them untop am, this matter fit long pass like this and binance fit no gree pay any fine wey federal government go give them so easily, them go want do stubborn head so some negotiations go dey, so instead of you to dey wait till dem ban binance for the country start to find alternatives.

I for say make una go for other exchange like kucoin but we never know if fg eye go reach all the exchange or if na only binance for now.
I come hear say we get some p2p vendors for Nigeria here wey get good rates wey fit trade our coins give us cash for our country here but the only problem na say scam people plenty inside and to find legit one go hard unless by recommendation.

I read through one thread and I see say our boss cryptobrainboss dey run am too, so if things cast na to petronize am be that.

There are many exchanges out their, it must not be binance but right now we have to be careful so that we don't be a victim of circumstance, I know that many people are much conversant with binance thats why it looks as if other exchanges does not exist, I will tell anyone for free that better one's dey.

As some looking for alternative exchanging you have to make enquiries very well on the particular one that is reliable to an extent and make sure you know their minimum deposit in other not lose you funds because this same thing happened to me, 10.68$ was sent to me in kucoin but I don't know that in BTC the minimum deposit is 0.0002 so I lost that fund without the exchange refunding me, so I wouldn't want anyone to fall victim of such, we should always trade with caution.

Ticdeneb

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Quote from: teamsherry on March 02, 2024, 05:04:22 PM

For most of us wey dey use crypto almost every day and get some of our value stored inside, we know say binance na our most preferred and probably the only online exchange wey most of us dey use use for the country, federal government don tie their hands, dem don even charge them untop am, this matter fit long pass like this and binance fit no gree pay any fine wey federal government go give them so easily, them go want do stubborn head so some negotiations go dey, so instead of you to dey wait till dem ban binance for the country start to find alternatives.

I for say make una go for other exchange like kucoin but we never know if fg eye go reach all the exchange or if na only binance for now.
I come hear say we get some p2p vendors for Nigeria here wey get good rates wey fit trade our coins give us cash for our country here but the only problem na say scam people plenty inside and to find legit one go hard unless by recommendation.

I read through one thread and I see say our boss cryptobrainboss dey run am too, so if things cast na to petronize am be that.

Na to use other exchanges nai sure pass. Until FG put eyes there too. I successfully use Bitget exchange P2P yesterday sha. No stress at all and the merchants dem dey pay fast.

Y3shot

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Their are good exchanges out there, their is no need to struggle with binance that is not working fine the way it use to be. Even if you still want to use your binance to recieve bitcoin, if you want to trade it yoi can transfer it to another exchange. We have kucoin, bybit exchange. These exchange are good, don't just force yourself on binance that can later be a problem for you.

Marykeller

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Em get existing post topic by Charles-Tim that says that the FG no ask Binance for $10 billion fine. Na wetin Binance talk.
Link to the post: https://bitcointalksearch.org/topic/binance-said-government-did-not-ask-for-10-billion-fine-5487243

For that reason we go debunk the news as rumor cos em no happen.

Back to the topic discussion; Binance no be the only crypto exchange wey Nigerians d trade with. Em get other top crypto exchange like Kucoin, and Huobi wey you and I go fit use perfectly well to trade our usdt for naira.

Why the FG are after Binance na because of sae dem find them guilty of currency manipulation and money laundering. If no be because of the stated reason, Binance for the run their peer-to-peer trade peacefully as d been d run am before.

Nevertheless, Reps don sermon Binance boss over the accusation wey dem give them. The info is being posted in our local board here by Charles-Tim
Link: https://bitcointalksearch.org/topic/m.63751478
Anyway, make we see wetin go be of the development. Until then our hands are fold to wetin the outcome go be.

Orpichukwu

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I they make use of binance swap coin once’s in a while but I no they ever use am save coins for any reason infact most of them time I just they use am hide my coin transaction to unlink am from my main address way eyes they on.

Binance nah exchange and we just suppose use am so which nah to swap coin or buy coin and aside from that to save their nah at the risk of the person.

We suppose they use noncustodial wallet to carry receive pay or to carry save our coins because nah their we get full power over them person no suppose remind us of that one and who they send for personal wallet anything way they happen for this binance or any other exchange eh no suppose affect am.

Cryptomultiplier

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Quote from: Su-asa on March 03, 2024, 02:26:10 PM

Already I have created a new topic https://bitcointalksearch.org/topic/--5487070 some days ago on how to use binance exchange without p2p options, you only have to swap your coins from Bitcoin to USDT and sell. There is more means to sell Bitcoin on the internet, Bitcoiners have to be careful with the exchanges they use for selling their coins or any wallet they want to save their coins with.

Swapping to USDT might be a good idea if one intends to HoDL or withdraw to a wallet.
What if one wants to withdraw after they have swapped BTC to USDT, have withdrawn to a wallet or wants to withdraw to the local bank where we get to withdraw or save in Naira?
Oh wait, I almost forgot how hard it is to trust that the exchange one uses currently still allows the Naira as a tradeable pair.

That's where the issue lies, because there's no point having crypto that can't be changed to the local currency for use when needed, hence an alternative like kucoin as an exchange will be a good backup plan, as well as looking for other sources of income that isn't cryptocurrency or involves a decentralized or centralized exchange and network to work.

DaNNy001

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Quote from: Moreno233 on March 03, 2024, 05:39:02 AM

This is nothing but the gospel truth. The way the country is going now, one need several sources of income to be able to survive and meet targets. In Nigeria now, the worst hit in this present economy are those working, because salary barely increased yet prices of things has doubled. Now relying on the same salary that was just enough for the needs is totally a disaster. The only option available now is to look for alternative source of income that will compliment the salary. It is a worse situation for those who do not even have a job who are in the majority. We really have to try because help from government is not forthcoming so we have to help ourselves as we cannot afford to fail our children and loved ones. Suggestions on alternative opportunities that can help will be welcome.

Before before when I been dey grow up, I been carry 100knaira salary people as the ones with the most convenient and GoodLife style but as things began to happen and the country began to tie wrapper I have now found out that even those 100k salary per month earners sef follow for the struggling class of citizens in the country. It's not easy for everyone in this country and being hopeful for a particular means of income is really a journey that carries anguish and long suffering because the problems you will be amounted with will finish that funds within a twinkle of an eye.

Su-asa

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Already I have created a new topic https://bitcointalksearch.org/topic/--5487070 some days ago on how to use binance exchange without p2p options, you only have to swap your coins from Bitcoin to USDT and sell. There is more means to sell Bitcoin on the internet, Bitcoiners have to be careful with the exchanges they use for selling their coins or any wallet they want to save their coins with.

Bitco55

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True talk, but if things go haywire we fit move go another crypto exchange platform. OP don already mention some and the thing be say, plenty exchange platforms dey weh legit. Be like say na cause some of us don already too hype Binance as the baba, na im we dey too concerned. And if worse comes to worse there are vendors too... Be like say we don already get solution of this our problem, and also, e be like say this Binance thing no dey affect everybody for here... But make dey see

Moreno233

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This is nothing but the gospel truth. The way the country is going now, one need several sources of income to be able to survive and meet targets. In Nigeria now, the worst hit in this present economy are those working, because salary barely increased yet prices of things has doubled. Now relying on the same salary that was just enough for the needs is totally a disaster. The only option available now is to look for alternative source of income that will compliment the salary. It is a worse situation for those who do not even have a job who are in the majority. We really have to try because help from government is not forthcoming so we have to help ourselves as we cannot afford to fail our children and loved ones. Suggestions on alternative opportunities that can help will be welcome.

Uhwuchukwu53

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Actually alternative is the answer to situation like this but one thing I will like tell us here is to first conquer fear, most challenges like this also pave way for better ways of doing it right. If before now when government place some restrictions on crypto people cry but today P2P came and become the best for us have it in mind that it will still be a better way out the end of the road is not yet.

I believe that most our ogam them are not sleeping to make sure we override this menness from our government.

Let play out part by being careful on the exchange we run to don't be rumors monger be sure your passing the right information on any exchange that is trust worthy to avoid misleading any who don't seek knowledge before joining.

Samlucky O

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Quote from: teamsherry on March 02, 2024, 05:04:22 PM

I for say make una go for other exchange like kucoin but we never know if fg eye go reach all the exchange or if na only binance for now.

That one no mean na. The matter be say make everybody enter kucoin and okx for now. If them say them wan come that side too, then people no get choice than to use decentralized wallets. But I know say no matter how E be option for P2P must dey. FG no fit block all P2P wey Nigerian dey for the world.

Quote from: teamsherry on March 02, 2024, 05:04:22 PM

I come hear say we get some p2p vendors for Nigeria here wey get good rates wey fit trade our coins give us cash for our country here but the only problem na say scam people plenty inside and to find legit one go hard unless by recommendation.

I for say make people still hold on and make more research about more P2P option for many exchange, dan to dey look for vendor, because that one na big stress. Emagin wettin you go do for house withing 4 to 5 minutes, wey person go dey Waka dey find vendors. You fit waste transportation to dey locate physical p2p.

Barikui1

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Quote from: Cryptoprincess101 on March 02, 2024, 05:33:44 PM

Quote from: teamsherry on March 02, 2024, 05:04:22 PM

I for say make una go for other exchange like kucoin but we never know if fg eye go reach all the exchange or if na only binance for now.
I come hear say we get some p2p vendors for Nigeria here wey get good rates wey fit trade our coins give us cash for our country here but the only problem na say scam people plenty inside and to find legit one go hard unless by recommendation.

There are lots of genuine exchanges just that we hype binance too much that's why this decision the federal government took on binance is affecting a lot of us and just a you said, there is need to have an alternative not only in the crypto space but in everything so that in a case where a place we give our most priority fails us we can have where to fall back to, so I believe that there is no way the government can ban all the whole exchanges from operating with Nigerians so to me I see all this things they are doing as wasted efforts. Okay, since they started the fight against binance, it there any positive impact in our currency to show that their efforts are yielding good results?

The only thing that baffles me is that a lot of scammers would take this as an advantage for them to scam people more especially the newbies so everyone have to be very careful with the exchange they want to use and as well ask questions from experienced individuals in the crypto industry so that you don't fall a victim to scams.

In this life it's very good that you have several options, because you might got disappointed by your single option, so it's very important you have several options so as to easily navigate your way, especially in this crypto space, though to me binance is more trust worthy due to their security, unlike others, but I think I have an account with kucoin and bybit before now, so anytime I want to make withdrawals, I normally use binance, but for some reasons, I use kucoin or bybit most times, but it's very good you have more than one option.

Secondly, I don't think the government can ban binance completely from the country, because even when their was restrictions on cryptocurrency in the country, people were still utilizing binance and others, even countries around the world that place a ban on cryptocurrency worldwide, their citizens are still trading cryptocurrency in one way or the other, without the government stopping them, so I don't think they can shot down binance completely from the country, besides why would they do that when we have a bigger problem to solve in the country?

Cryptoprincess101

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Quote from: teamsherry on March 02, 2024, 05:04:22 PM

I for say make una go for other exchange like kucoin but we never know if fg eye go reach all the exchange or if na only binance for now.
I come hear say we get some p2p vendors for Nigeria here wey get good rates wey fit trade our coins give us cash for our country here but the only problem na say scam people plenty inside and to find legit one go hard unless by recommendation.

There are lots of genuine exchanges just that we hype binance too much that's why this decision the federal government took on binance is affecting a lot of us and just a you said, there is need to have an alternative not only in the crypto space but in everything so that in a case where a place we give our most priority fails us we can have where to fall back to, so I believe that there is no way the government can ban all the whole exchanges from operating with Nigerians so to me I see all this things they are doing as wasted efforts. Okay, since they started the fight against binance, it there any positive impact in our currency to show that their efforts are yielding good results?

The only thing that baffles me is that a lot of scammers would take this as an advantage for them to scam people more especially the newbies so everyone have to be very careful with the exchange they want to use and as well ask questions from experienced individuals in the crypto industry so that you don't fall a victim to scams.

Topic: The sooner you find an alternative the better (Read 251 times)