Browsing: bitcoin in africa

It is now possible to store, buy, exchange and resell Nigerian naira for bitcoin and a hundred other cryptocurrencies directly from the Binance platform.

The Chinese giant headquartered in Malta is opening up to the fiat currencies of Africa’s largest economy. And for the occasion, it is the Nigerian naira that will serve as a trial balloon.

• Cryptocurrency exchange platforms are generally available to holders of euros or dollars, it is now the turn of the Nigerian naira are to be accepted
• Binance has adopted African currencies and is looking at Kenya and South Africa as well.
• Cryptocurrencies are now competition for Western Union and Moneygram

In an October 24 2021, press release, Binance explains that this milestone was reached thanks to a partnership with Nigerian fintech Flutterwave, which offers secure payment solutions for small entrepreneurs in 150 different currencies. In a second press release, Binance announces that it will …

Twitter founder Jack Dorsey appointed four Africans to sit on Btrust (Bitcoin Trust) board on December 15, 2021.

Btrust is an initiative co-founded by Jack and the United States singer, Jay-Z, to deploy 500 bitcoin to develop and foster the currency in Africa and India.

Ojoma Ochai, Obi Nwosu, Abubakar Nur Khalil and South African Carla Kirk- Cohen. There were 7,000 applications interested in the same positions. The application form for board members established a mission to “make bitcoin the internet’s currency.”…

The Central Bank of Nigeria has banned all cryptocurrency transactions as of February 5^th 2021 citing terrorism concerns. The central bank is of the view that cryptocurrency transactions are been used to fund terror groups.

As a result, it has ordered all banks as well as non-bank financial institutions and all other financial institutions that deal in cryptocurrencies or facilitate payment for cryptocurrencies to stop with immediate effect.

The development comes after the Central Bank issued a warning back in January cautioning against the use of cryptocurrency.

Cryptocurrencies are volatile and risky since unlike in regular banking transactions, these are transactions that are irreversible. Further still, transactions are anonymous so you do not know who you are dealing with and also, there are no regulators for cryptocurrency dealings, it is all just you and a host of other people that you do not know trading online, to call it …