Crypto Ban In Nigeria: Owner Of Binance Gives Nigerians Other Ways To Safeguard Their Money

Changpeng Zhao, the founder of the largest cryptocurrency exchange platform in the world, Binance, has provided options on how Nigerians can safeguard their money following a ban on cryptocurrency transactions by the Central Bank of Nigeria (CBN).

Reports were made that the CBN in a statement, prohibited the use of bitcoin and other cryptocurrencies in Nigeria, directing banks and other financial institutions to identify and shutdown accounts used to trade cryptocurrency.

In the midst of the confusion which gripped many Nigerians, Zhao reacted to the CBN ban on Twitter, advising Nigerians to take the withdraw option, by pulling out their naira from Binance as early as possible to avoid system issues.

He, however, stated that Nigerians willing to continue investing in cryptocurrency can take the convert option, which enables them convert their naira on Binance to crypto without leaving the platform, “Crypto is not affected. Also looking at other P2P fiat options.”

While making the suggestions, Zhao said he “Received notice from our channel partners that NGN (naira) deposits and withdrawals will be affected. Still confirming details on when/how. Please withdraw your NGN (naira) as early as possible to avoid potential channel issues. Will share more details as they become available.”

Zhao also disclosed that the Binance platform will no longer receive naira deposit as the cryptocurrency platform has disabled deposit feature, “To err on the safe side, we have also disabled deposits to prevent more NGN (naira) coming in.”

While addressing a Nigerian user, Zhao said......,
CONTINUE READING BELOW.....
https://www.callydgists.com/2021/02/crypto-ban-in-nigeria-owner-of-binance.html

Hmm

From the ash we shall rise

Wahala

E pain me sey i neva make profit from crypto.

But am stil using crpto now with bitcoin