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But no matter what, i commend cbn for this. Bitcoin trading sites in nigeria are legal and protected by state recognition of bitcoin startups A quick answer to the question is: There is no official legal law that stops you from using bitcoin in nigeria and although bitcoin is not a legal tender in nigeria, there are many platforms where you can use bitcoin to carry out transactions. Rather, it sees bitcoin and other cryptocurrencies with skepticism. During the same period, bitcoin prices have risen sharply 5 legit ways to trade bitcoin in nigeria despite cbn's. Central bank cannot control or regulate. In january 2017, the central bank of nigeria announced that bank transactions in virtual currencies were banned in nigeria, however, the bank has since clarified it's stance on bitcoin, stating : There has been a cautious stance taken by the nigerian government regarding bitcoin cryptocurrency. China bitcoin nigeria trade adoption bitcoin in africa disclosure the leader in blockchain news, coindesk is a media outlet that strives for the highest mar 12, 2020. They sent a notice to all financial institutions in january 2017, warning against the conversion of naira to btc. … the concept of bitcoin can threaten the dominance of fiat. The central bank of nigeria doesn't even acknowledge digital assets as a legitimate tender.
Although bitcoin's legal status in nigeria is a little murky, for now it seems that bitcoin trading is continuing as normal. Instead, it is an unregulated aspect of financial assets and tools. Now, let the debate begin. Bitcoin is neither legal or illegal in nigeria. If you want to buy n5,000 worth of btc, type 5,000 in the field.
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