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Bitcoin Investment In Nigeria Rises By 5%
Despite the cryptocurrency losing $562.93bn of its market value in 2022, Nigerians’ investment in Bitcoin grew by over five per cent. The market cap of BTC has dropped from $875.94bn as of December 2021 to $313.01bn as of November 20, 2020. Also, prices have fallen from $46,306.45 to $16,291.83 within the time under review. However,…
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Nigeria Tops Sub-Saharan Africa’s P2P Bitcoin Trade
According to data from UsefulTulips, Sub-Saharan Peer-to-Peer Bitcoin trading has surpassed that of North America. This makes the region the largest P2P market in the world. UsefulTulips analyses data from LocalBitcoins and Paxful trading platforms. In the last trading week, a total of $17,599,679 was traded in BTC volume from sub-Saharan Africa. For the North…
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INFOGRAPHICS: Countries Moving To Launch Cryptocurrency
Having gained the interest of the majority – population and investors– countries are beginning to make provisions for the establishment of their digital currencies where their citizens can trade on a ‘regulated’ platform. The growth of cryptocurrency has been hindered in several countries after claims that the platforms can not be regulated or negates certain…
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Nigerians Trade N92.25m Bitcoin On Paxful
Despite the ban on cryptocurrency trading, Nigerians traded bitcoin volumes of over N92.25 million ($225K) on Paxful– a cryptocurrency trading platform– from March to June 2021. According to a source in Paxful, reported by the Punch Newspaper, from November 2020 to February 2021, trading volumes from Nigeria was about N73.8 million. The source said, “From…
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Nigeria Leads Bitcoin P2P Trading Across Africa in Q1 2021
Despite the suspension of crypto trading in Nigeria, amidst regulatory works, Nigeria is leading the Bitcoin P2P trading in Africa in the first quarter of 2021. Between January and March, Nigeria posted a peer-to-peer (P2P) Bitcoin trading value worth $99.1 million, Kenya followed with $38.4 million,( $61 million less than Nigeria’s). Ghana and South Africa…
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CBN, SEC To Regulate Cryptocurrency Trading In Nigeria
The Securities and Exchange Commission (SEC) has announced a collaboration with the Central Bank of Nigeria to work on regulating cryptocurrency trading in Nigeria. The Director-General, SEC, Lamido Yuguda, revealed this at the 2021 first post-Capital Market Committee (CMC) virtual news conference. He said that the commission had suspended the implementation of crypto assets guidelines due…
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Here Are Eight Countries That Have Banned Crypto Exchange
As bitcoin recently hit a $1 trillion market cap at $54,000 per coin, many crypto traders might be unable share in the wins as few countries have ordered the ban of crypto exchange in local banks and currencies. TwentyTen Daily brings you eight countries where cryptocurrency trading has been banned. ChinaThe People’s Bank of China,…
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Nigeria Ranks No.2 Bitcoin Market in the World
Over the last five years, Nigeria has traded 60,215 bitcoins, valued at more than $566 million which, apart from the US, is the largest volume worldwide on Paxful, a leading peer-to-peer bitcoin marketplace. The data scraped from Coin Dance shows from the beginning of May 2015 to the middle of November this year, bitcoin trade…