Kakashi2020 Posted December 6, 2018 Share Posted December 6, 2018 It has come to my attention that Nigeria has recently banned all Bitcoin and Cryptocurrency transactions. What are your thoughts on this? Quote Link to comment https://slingbank.com/forums/topic/1852-why-is-bitcoin-and-other-cryptocurrencies-banned-in-nigeria/ Share on other sites More sharing options...
Alania Posted December 7, 2018 Share Posted December 7, 2018 I didn't know about it, actually. Oddly enough almost any country has cryptocurrencies, especially when it cant sustain all the economical factors. Perhaps Nigeria wants to have a full monopoly on the economical life of the citizens. Quote Link to comment https://slingbank.com/forums/topic/1852-why-is-bitcoin-and-other-cryptocurrencies-banned-in-nigeria/#findComment-3257 Share on other sites More sharing options...
NerdIndeed Posted December 7, 2018 Share Posted December 7, 2018 I just learned about this today, and I'm on the same predicament as to why they are not allowing the use of the cryptocurrency, knowing for a fact that it is now widely used all over the world. Quote Link to comment https://slingbank.com/forums/topic/1852-why-is-bitcoin-and-other-cryptocurrencies-banned-in-nigeria/#findComment-3275 Share on other sites More sharing options...
focusedwriter10 Posted December 7, 2018 Share Posted December 7, 2018 My guess is simple. Scams have led the government of Nigeria banning Bitcoin and cryptocurrencies. Nothing else. Quote Link to comment https://slingbank.com/forums/topic/1852-why-is-bitcoin-and-other-cryptocurrencies-banned-in-nigeria/#findComment-3291 Share on other sites More sharing options...
JPK0007 Posted December 8, 2018 Share Posted December 8, 2018 Well, I am hearing this for the first time. No country has completely banned Bitcoin till now. However, there are many countries in the World where Bitcoin transactions are not considered legal. In recent times Cryptocurrencies have been known to be misused by some rogue individuals and institutions for illegal and nefarious activities. This may have been the reason for a total ban. Quote Link to comment https://slingbank.com/forums/topic/1852-why-is-bitcoin-and-other-cryptocurrencies-banned-in-nigeria/#findComment-3307 Share on other sites More sharing options...
Alania Posted December 8, 2018 Share Posted December 8, 2018 14 hours ago, focusedwriter10 said: My guess is simple. Scams have led the government of Nigeria banning Bitcoin and cryptocurrencies. Nothing else. Scams are all over the place, but banning Bitcoin and cryptocurrencies is not the reason and source of the scam. I have a friend from Ukraine who says he'd rather have Bitcoin over his own national currency, because he despises his government's economical state of affairs. Quote Link to comment https://slingbank.com/forums/topic/1852-why-is-bitcoin-and-other-cryptocurrencies-banned-in-nigeria/#findComment-3315 Share on other sites More sharing options...
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