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Bitcoin is legal in nigeria, but the nigerian sec, or securities and exchange commission, warned citizens about cryptocurrency investments being risky and sometimes even fraudulent.
The decentralized and anonymous nature of bitcoin has challenged many governments on how to allow legal use while preventing criminal transactions. Bitcoin is neither legal or illegal in nigeria. The nigerian business climate is a dynamic one. However, the securities exchange commission of nigeria warned people regarding investments of cryptocurrency being unsafe and sometimes even fake. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: I bought my first bitcoin in 2016 … read more. If you are in nigeria, bitcoin exchanges are the best platforms to buy the currency. So, what's the stance of the central. Btc in nigeria explained bitcoin is legal in nigeria. Bitcoin gains its popularity in nigeria since 2015. Although bitcoin and cryptocurrencies aren't considered as legal tender in the federal republic of nigeria by the central bank of nigeria, the nigerian people are completely free to buy, sell, and trade bitcoin and cryptocurrencies. Are cryptocurrencies recognized in nigeria? A distributed, worldwide, decentralized digital money.
But, you can still purchase btc and transform bitcoin to naira. I guess theyre tired of fighting the movement, so now they have no other option but to join the other countries with young citizens having interest in bitcoin by trying t. Now that you have a clear knowledge of what bitcoin is and before we delve into how you can open a bitcoin account, let us explore the best quidax is currently headquartered in malta and has most of its operational activities here in nigeria. • bitcoin nigeria fb group • bitcoin nigeria subreddit • nigeria bitcoin community. If you are in nigeria, bitcoin exchanges are the best platforms to buy the currency.
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So, most likely you have heard or read about it and you are thinking of going into legitimate bitcoin in this article, we are not going to talk about bitcoin business in nigeria itself, we will discuss its legal status.
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Is bitcoin illegal in nigeria? Bitcoins have lower transfer fees than banks. Some people are of the opinion that bitcoin might be an easier means of sending and transferring fund abroad; Just like the internet, it is difficult to regulate cryptocurrencies. The nigerian business climate is a dynamic one.
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Now you might wonder who controls the bitcoin platform;
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