Is There Any Effect Of Crypto Currency In Your Country

[Planet408]

Many countries are accepting crypto currency while some countries are banning crypto currency. I'm yet to find out any negative effects of crypto currency in the economy of any country. Why are some governments not comfortable with the popularity of crypto even when crypto is no increasing the account balance of many people who are into buying and selling if crypto Currency
What is your view on the above subject? Kindly share with me

 

[Victor001]

Crypto currency to some is a digital advancement in transacting money,while others like the elites see it as a means to embezzlement of funds. But in a more advanced way crypto currency aid the development of any country it provides linkage to outside world through business, investment and even marketing,it makes transaction go swiftly and smoothly.

 

[btaliat]

To me, I will speak with both sides of the mouth. Government may be trying to protect his economy by not feeling comfortable with cryptocurrencies. We all know that circulating of money always have effects on the improvement of the economy. And cryptocurrencies has prevented this. People prefer to save their money on cryptocurrencies rather than circulating the money. Aside this, it may because they are not gaining from the crypto activities.

 

[marcusfe]

There is absolutely no county in the world that doesn't have effect of covid-19 it's just that the gravity of the havoc differs. Covid-19 is global pandemic that has negatively affected the economy of many countries of the world even Nigeria is not excluded. The effect cuts across every aspect of human life, such as business, health, freedom of movement etc.

 

[Planet408]

Crypto currency to some is a digital advancement in transacting money,while others like the elites see it as a means to embezzlement of funds. But in a more advanced way crypto currency aid the development of any country it provides linkage to outside world through business, investment and even marketing,it makes transaction go swiftly and smoothly.

Our government refused to see it from this perspective. That's too bad of them. I love using crypto for most transactions because it is very swift in transactions than going to Banks to do wire transfer of funds to outside country.

 

[Haypril]

I believe there has been negative effects of this very digital currency instead my country. Just that it has not been a public thing since its transactions are untraceable. Economically, Crypto currencies posses a negative effects on Nigeria economy. And again this so called coins will give long way hiding the dirt of our money looting leaders.

 

[wizyoung54]

I'm from Nigeria, Cryptocurrency was banned from my country about two weeks ago although, Central Bank of Nigeria has warned bank from accepting exchanges that involve cryptocurrency. The reason for the ban was that the introduction of cryptocurrency has led the country's economy to be stable due to that fact that citizens now prefer to save in virtual currencies.

 

[Planet408]

I believe there has been negative effects of this very digital currency instead my country. Just that it has not been a public thing since its transactions are untraceable. Economically, Crypto currencies posses a negative effects on Nigeria economy. And again this so called coins will give long way hiding the dirt of our money looting leaders.

Well, I respect your opinion but I don't think crypto currency is the problem of Nigeria. Nigerian leaders have been looting money over decades ago.

 

[eojo2401]

The simple and the bitter truth is that all the country that are banning cryptocurrency will surely regret there actions in the nearest future, most especially the present leaders in my country. They leave the crucial issues that is affecting the economy and now waging war on what will boost the economy of the nation. Anyway what do I expect from the government that closed the borders for no reasonable reason but just to put citizens in more hardship.

 

[Haypril]

Well, I respect your opinion but I don't think crypto currency is the problem of Nigeria. Nigerian leaders have been looting money over decades ago.

Thanks for taking time to share your thoughts based on my own opinion. I really do appreciate your time. However, looting of national budget by how leaders is not the only threat this Crypto currency posses on Nigeria economy. And to be sincere with you, the development of such currencies with untraceable transaction address Is just a means a means of carrying out fraudulent activity. I believe if statistics are to be taken, Mexico will be the highest users of this digital money.

 

[Planet408]

There is absolutely no county in the world that doesn't have effect of covid-19 it's just that the gravity of the havoc differs. Covid-19 is global pandemic that has negatively affected the economy of many countries of the world even Nigeria is not excluded. The effect cuts across every aspect of human life, such as business, health, freedom of movement etc.

Your comment is not related to my topic