Possible outcomes of crypto regulation in Nigeria.

[btaliat]

The cryptocurrencies users in Nigeria have been having tough time ever since the regulation on the using of banks for cryptocurrencies transaction in the country. However, there is always light at after the tunnel. The cryptocurrencies users in the country should not let this weigh them down but rather channel diffrent means of trading in cryptocurrency. This are the implications of the regulations
1.This recent regulation will give Nigerians ability to involve in long term investment. Which is even better than having any money in bank. The ban can never go for life. You can just leave the coins till when he the ban will be lifted. I am very sure by then that your money won't be the same value.
2. The increment in the rate of peer to peer transactions, people will go back to the root. We will start looking for platforms like binance, remitano and the likes that support peer to peer.
3. Government will want to come into the market. They may ask Banks to find a way of regulating their activites.
Which other ones can you think of?

 

[Ekuvero]

The ban would surely be lifted even If it isn't lifted now I would advise anybody not to sell his Cryptocurrency but rather hold for long term cause they are many optiins to bypass the CBN directive

 

[sincerem]

The cryptocurrencies users in Nigeria have been having tough time ever since the regulation on the using of banks for cryptocurrencies transaction in the country. However, there is always light at after the tunnel. The cryptocurrencies users in the country should not let this weigh them down but rather channel diffrent means of trading in cryptocurrency. This are the implications of the regulations
1.This recent regulation will give Nigerians ability to involve in long term investment. Which is even better than having any money in bank. The ban can never go for life. You can just leave the coins till when he the ban will be lifted. I am very sure by then that your money won't be the same value.
2. The increment in the rate of peer to peer transactions, people will go back to the root. We will start looking for platforms like binance, remitano and the likes that support peer to peer.
3. Government will want to come into the market. They may ask Banks to find a way of regulating their activites.
Which other ones can you think of?

Both options you mentioned are great i must say. Leaving our Cryptocurrency over there in our wallets is also a nice idea. Saving it there for the long time will surely boost the price higher as time goes on. Cos long time crypto investment always brings immense success. Using P2P method to cash out our funds is also good, cos its been the old system, before the emergence exchange platforms that acts as banks to our Cryptos.

 

[Olajidey]

Leaving your crypto coin for long term investment will give more than 100% but there are some factors that will make you want to convert your crypto to money and withdraw. The Ban on crypto with the bank is the beginning of wisdom on Kryptonian in Nigeria, Now there are many options on how to get your money from crypto wallet.

 

[Haypril]

I really pray and looks forward to the lift of the ban. Crypto currency in Nigeria has been more of a blessinga than curse. Although, there's nothing that comes into Nigeria that we don't abuse. I think government should try as much as possible to lift the ban.