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Hello Hiver's
About Crypto Currency Knowledge Here In My Country
Here almost across the thirty six federating states , even before 2020 and 2021 respectively . Crypto currency mainly Bitcoin has long gained and earned people recognitions . Here i would have it clear that , not as if verse majority of people did knew an existing of Bitcoin meant that they subsequently did invested to hold even a pieces of bitcoin crypto or coin.
But at most , the widest range of Bitcoin popularity among kind of social media enthusiast here in my country. Was mainly on the ground jest upon such knowledge that , here we do have denomination early in circulation of which is no more . Instead as Nigerian we only experience it within a bank account balances integration or well standards supermarket shopping receipt . The initial bank notes was in local coins called fifty kobo and one naira that's to be respectively.
But , the coins has being long withdrawn from usage and from public circulation. On still part in corporate account balance , as it do ends and compliment all naira related transactions.
It was base on such ground , Bitcoin became very popular among mostly young people . That there happening to be mainly a coin called Bitcoin and it gradually appreciating , and it not same with our local known Kobo and Naira coins. Instead that as being Bitcoin , under blockchain . And it happens to be digital currency known as Crypto Currency . Though it hasn't been for once before recent did discussed by financial Expert here in my country.
But now here we have lots of locally own's and foreign fintech promoting and talking about blockchain and crypto currencies actively.
The Bitcoin popularity was truly increasing here , while few people did invested most people was only acted carrier of the knowledge of Bitcoin existence during 2012 -2014. Surprisingly while i myself being long look off , only to learnt that Bitcoin has hit and reached millions in terms of local currency exchange or conversion during 2020.
The Governor Of Central Bank Perception And Action Towards Crypto Currency Here
Before our cental bank governor intervened and passed his very side of judgement on crypto currency in general.
All local bank mainly both pure commercial and some microfinance banks , has been accepted direct deposit into any desired cypto related wallet own by given person's. Even an available supporting bank cards , like master and visa card . All of that has been ease and facilitating the rapid deposit into choice wallet , to buy and holding of your choice crypto currencies if so be.
After Bitcoin and other coins get surge up effectively during late 2020 to early 2021 .
Only to have our central bank governor came up with his own side and sight judgement. Which was based on his outright perception . Stated that , Anything crypto currency can't get regulated . That it's like kind of money created into tin air.
So , though due to his actual actions immediatly following that sayst of his . That left most business men and other's who did invested huge sum into , all these only MLM which are more like ponzi scheme in nature . That , usually promise high returns per investment.
There happened to be one , that has been very popular across the federating states . Known as MMM. Below shows kind of an example onto their enticing packages . Of which whenever you get invested within 24hours you gain your double return of an investment , plus other incentives of which they did run more as pure MLM .
Example here :
| Packages To Be Invested | Return Of An Investment Within 24hrs |
|---|---|
| $10 | $20 |
| $20 | $40 |
| $30 | $60 |
| 40 | $80 |
| $50 | $100 |
| $100 | $200 |
| $200 | $400 |
| $500 | $1000 |
| $1000 | $2000 |
| $2000 | $4000 |
Here in this country most people will never forget what that known MMM did to them , because most business people invested their capital waited to gained it big just within a 24hours plus. Due to such huge lost , ever experienced here on an online things so the central bank governor's actions wasn't gained serious destable actions by the crypto enthusiast across the states.
The Central Bank Governor Action Here Towards Crypto Currencies
Here in this country it was quite very annoying , painful and very bitter to have a central bank Governor came up . Upon personal perception , get passed personal judgement on crypto currency.
Stated with an immediate effects , let all commercial banks and any other's banks stopped their involvement into handling and aiding anything crypto transactions.
Do note , here that all my quotes might not be a hundrend percent correct . In terms of sentences . Because i only make this post base on all i learnt then from the google updating local news relating to my cental bank actions , as i can put them all together here.
Fact is that our central governor till date has long since 2021 placed a Ban on anything crypto direct transactions with the applicable bank . Mainly commercial and microfinance banks.
Now only well recognize exchange dealings in crypto by our central bank should be Binance. At that , even Binance here are using peer to peer transaction known as cashlink merchant's.
