We all know the importance of centralise exchanges in our country, though they are not the best because the risks in it is greater than the benefits but when you get to understand a way of avoiding the risks then you can enjoy the benefits with having little worries. The two common we use CEX are trading and p2p but my focus today is the p2p.

 We know the risks involve in buying and selling our bitcoin to vendors even sometimes the trusted still scam especially when the amount is huge or they know that you can`t catch/locate them, alot of people has fallen victim and many will still fall victim to these scammers. To avoid these issues  many Nigerians have opt for using exchanges like binance, kucoin, remitano and others, which has trusted p2p transaction and this has really helps us well.

 Aside this, the p2p exchange rate from the exchanges are better than the exchange rate of these vendors most times because some of them buy/sell from these exchanges and so will have to to make their gains. These exchanges doesn't stop the scam of p2p but just reduce the risk and also serves mediator to help you get your fund's in case the other party try to scam you but that's if it was done according to their terms and conditions.

some ways by which we avoid the risks involved in CEX include:

• Use exchanges with good reputation and always try to stay inform about the exchange
• Always remember the phrase Not Your Key Not Your Wallet
• Only keep few of your coin which you know you either use for trading/use frequently
• you don't have to store gains from trading there

Still yet we ought to be cautious when using p2p like addressed here: Be smart while using a p2p exchanges and Pay attention on xchange's P2P transactions.

Question:
Aside all the dangers on these exchanges, there have been really helpful to us, How do think Nigeria would have gone in our bitcoin adoption without CEX and also how bad would be the scamming rate on p2p ?

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ps, I notice that there have been some post from some users about the number of none bitcoin related post on the board which is good but the approach makes it more like you are spamming the board I guess that is the reason our seniors on this board use this thread instead of creating two or more post like as been done by some others.

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I will still prefer bitcoin and my reasons are :

• No capital hurdle: aside being able to start hodling bitcoin in small amounts, you can also earn bitcoin through Freelancing , getting paid for doing task and others
• Volatility: this volatility are being use by some bitcoin investors who are trading bitcoin. Though trading seems much harder to become successful than HODL but many are making a living out of it. While Bitcoin may drop but most times when there is a huge drop, it's something that affect the stock market, forex market and others. But the good thing about bitcoin is that when the price drops it will rise again with time and the chance of a landed property to increase its value after its depreciated is lower.
• dual purpose: aside from the point stated by you, dual purpose is more preferable to the fixed here because in case of emergency you can easily sell your bitcoin while for the real estate it may not be possible to get a buyer ready to buy during such state of emergency while the ones available will offer a less fee.
  
• scam: if you follow the proper ways for going into these two investments then you can escape scam, for the real estate by going to verified trusted real estate agents can help you overcome this while for bitcoin, going to a trusted and verified vendors or following the guide given by the exchange before using the p2p.
  
• Profitability: outside all the FUD, bitcoin do better in the long run than the real estate, we can see through the price movement from the pass decade.
  

Like as Charles-Tim said this is would be actually the best for the government because the current restriction by the cbn is not really affecting us much while the 10% tax which shows more that the government is in support will also attract foreign investors, bring employment opportunities and other benefits to the economy. The first regulation which was a failed one when they created the eNaira, we know they would have thought about this also but they opt for the eNaira because that was an easy way for them to squander more money because they did little or nothing in making the public aware of it even during the cashless season this year and Thank God the fraud cbn governor is out. Though we know the eNaira could never have affected the adoption of Bitcoin in Nigeria.


The fact is even in this current restriction by cbn, as long as the person you are doing the payment/transaction with agrees for you to pay them with bitcoin then you can, the government will not hold you and it does not matter if the person is a driver, market woman, barber or any other person as long as they accept it then you can.



 We don't have to blame the law enforcement agency for this, we just have to be careful even after the regulation this will still continue as long as yahoo boys remain. That's why we have to be cautious of how we act and dress. CryptopreneurBrainboss address this issue one time here :

I experience this also, guess we all did now wondering what was the cause of it though?

Na this part be some of issue, we too believe on these people because say them popular but always dey forget say even if person popular nor mean say them fit give financial advice or get money sef way them dey claim. we don see how many of them EFCC don detain bcos of fraud or other illegal activities. Lastly, make we nor forget say these people fit bankrupt sef .

op, some of these influencers know say watin them dey advertise na scam or say risk dey involve like the octaFX copy trading but they go just choose to do/sugarcoat am bcos say they go pay big money and nor be them dey lose.

Here is list of beginners guide to trading, from the beginners encyclopedia by Ratimov which contain other beginners guide about blockchain, security, bitcoin and others.



What you explain is buy the DIP, DIP is a temporary price fall of a coin in the term of crypto currency trading.

Is over a decade now and US government has not given up on their pursuit to control bitcoin, just read an article about Sam Altman being dissappointed against the US government desire to control bitcoin and about him being against CBDC Here. Am surprised to see US government is also planning to create their own digital currency, I thought they where smarter than this, for them to be thinking that CBDC will fight against Bitcoin is funny.

Question

• what is the reason why countries are still going for CBDC when they speak of regulating bitcoin?
• Why do the US government give up their pursuit to control bitcoin after over a decade because bitcoin is Decentralise and no one can have total control over it so won't they just give up on their pursuit?

Is not like him, LoyceV, lovesmayfamilis and others hate them, they just don't like rule breakers while some beginners are reading rules and trying to understand the forum system, some are just don't care about that rather making shit post even to the point of plagiarising or making Ai generated posts while others just come to spam the forum or find means to scam. Even after they might even give warning/pardon.

I get your point, aside this bitcoin was created to be anonymous but I will like to tell you that it was cheaper at first in Nigeria when we buy directly from CEX like binance before the restriction and the other reason most opt for it is that getting scam in p2p in Nigeria is high so that why most of us still opt for CEX for the p2p because at least this add some sense of surety that we may not be scam but the bank to exchanges works better for us.
Here is a post about an issue we Nigerians also face on p2p Pay attention on xchange's P2P transactions

Op, your point valid but even sha go better if you make the main part of these your points bold, like I tel do this one way I quote.

All these things na true way you talk and aside all these, people dey mostly nor dey reason say as bitcoin dey give person total control of their money if them dey use non-custodial wallet, say na their responsibility to make am secure and if they nor fit do am way them use Custodian wallet but if anything happen to their money way them nor cor dey blame anybody because as you dey use bitcoin you suppose to dey learn how to protect am nor use am play because you nor go fit tell me say person way get bank account nor dey   hide he Bvn or say if you get money for house you go cor open your door down or let everybody know where your money dey.

In addition to what @mocacinno has stated, here is a post about this : Merkle Trees and Merkle Roots for dummies

Omo 🤣, I need to cor learn from you sha, they deserve it the highest I have to them is burn their airtime. All these scams nor dey funny especially all these ATM scam because this one nor be cause of greed but ignorance many people don fall for am and many go still fall put, sometimes I dey wonder these scammers tel dey know say person get ATM because I remember say na wen I tel request for ATM na I tel first recieve their call. This na one reason way bitcoin tel better bcos bitcoin dey anonymous and nor go fit fall for this kind scam say person call/text you say person wan hack your wallet if you dey use non custodian wallet.

Op, watin you do good but next time once you see any message like this way dey obvious say na scam, just better leave am instead to click am and one thing way you need to know na be say incognito mode nor dey protect against hack or malware to avoid every issues e dey advisable not to click any link way person from random person or even person way them know especially wen the link cor dey suspicious.

This one na be the biggest issue way cryptocurrency dey face and na this thing dey affect why SEC never accept bitcoin ETF and also this one dey make people to avoid crypto investment because either they know person way don fall for this scam or na them fall put themselves but if they fit see say bitcoin dey different from all these crypto, it sha go better because SEC know say they nor go fit stop all these scams and others like trading manipulation totally because even for other like the forex scam and other issue like the trading manipulations still dey self.

Forex trading is similar to crypto trading is just that in one you trade cryptocurrency like bitcoin while in Forex you trade traditional currency like USD (dollar). Though the terms might be different but it has almost same approach like Technical Analysis, Fundamental analysis and others.
While bitcoin and other cryptocurrency can be traded anytime forex trading is done Monday to Friday.

I swear, people wan just dey wake up be millionians that why them dey invest on shitcoin for naija remember 2021 way trustwallet dey glitch and people go cor see their coins dey turn millions but them nor fight withdraw am. Now all those their coin don dip and as the matter be so those coins nor go even fit reach another all time high because project manager don forget them as they don already make their money.

Wallet like Mycelium and bluewallet that doesn't have dusk control so only have option of either sending the coin  to a mixer, sending to some charity address. Is it also possible for these wallet to separate the coins from their main coin before transferring also?

This is the first problem, most people don't ever think of what they would do after retirement until they collect that retirement letter then issue of investment or building a house will then come and most of them sometimes opt for building a house because they know that the luxurious apartments they are staying they can't afford it after retirement and so they quickly build a house and then start struggling to feed themselves and family while others after retirement because of greed or the fact that they don't have anything to fall back once they retire and their retirement is already closed by will be looking for high ROI and then invest in a scam project while others get wrong investment ideas and plans.

 Another way to sure of getting something from their children and those they are taking care of is also trying to get a good job opportunity for them because we all know how job hunting in Nigeria is and I guess this is the reason most parents do decide careers for their children.

Most people don't have long term plans for themselves, they just continue to live everyday as it comes by while others have short term plans. Aside all these there are still reasons to invest early because sometimes people lose their jobs one way or the other which may not be their fault and the next step for them will either be getting another job or starting their own business (this one may be tasking if they don't have capital while the other is that they may start hunting for job which may take years before getting a good one).
In the end the best is to plan early so that getting something to fall back on after retirement, if one might not get old their children and family may have something to fall back on since we have heard of stories are some families final struggles Started after the death of their breadwinner. Investing in bitcoin won't be a bad idea either like Hal Finney did for his children

 whitelisting in cryptocurrency is a way by which developers allows investors to participate in some events like Airdrop, Presale and others in the coin/NFT and also the addresses they allow for accept for withdrawal.

 Among the reason why whitelisting is important in cryptocurrency is the fact that it helps developers to place restriction on those allowed for events like presale, withdrawal and others in order to avoid spammers and unauthorized access to such events.

 Though whitelisting acts as a good security measures but the fact is that the transparency and fairness can be questionable since it can be manipulated or hack, Here are some ways to identify bad whitelisted projects :

• Know the risk involved in whitelisting, this will make you more cautious in any of these projects
• Check for reviews for other investors
• Check who are the project managers in order to know how far they can go for the project
• Avoid whitelisting projects that request for your personal data and also which are not sincere about the actual requirements for participating in such events
• Check if the project whitelisted is really from the official website/social media, we have seen alot of false airdrop after a legit airdrop/ presale as ended from scammers who claimed to be doing another round for such events.
• Doing your own research and avoid social media hypes

what other ways by which investors can identify fair and transparent whitelisting?

 We know Bitcoin was created as a decentralise Blockchain and its value is base on how we the users value it but its still a known fact that people can be swayed by those big names like Elon Musk and others who are called influencers.
 while there are others who try to control the market for their own good, they are called trading manipulators they use various schemes to go against the trustworthiness of cryptocurrency and bitcoin.
 This as affects some investors trust on the market and some exchanges, even on cryptocurrency as a whole though this is not only people are not only present on crypto market, they are also present in stocks and others.
 
  Some ways by which these individuals/groups manipulate the market include the following :

• Pump and dump Schemes :
  Here the manipulators suddenly makes the market looks like as if its going for a rise (this is the Pump) in order to use other investors as bait and once they fall for it, they dump for their gains while others take the loss.
• spoofing :
  Here the manipulators place an order and cancel it quickly before it's been executed in order to deceive other traders using the order book to make trade in regards to the false order while they make a more favourable order
• wash trading :
  This is also known as volume manipulation, here the manipulators simultaneously buy and sell the same coin to increase the trading volume.

How to identify Manipulators :

• Be cautious of social media hype and criticism because we have seen most times when they criticise bitcoin and in the end it do shame them while they hype some altcoins especially meme coins which turned out to scam or overhyped or nothing.
• High trading volume since they do try to increase the trading volume.
• Sudden drop or hike of price
• Don't trade with emotions and avoid FOMO (fear of missing out)  

How to protect against Trading Manipulators :

• Include long-term/ Hodling mentality in your trading analysis
• Go for reputable exchanges only, since smaller exchanges  may not have the capacity to fend off manipulators
• Do your own research
• Be cautious of where you get investment advice
• Don't panic buy or sell

Lastly, all these are helpful but are just some ways of protecting against trading manipulators and don't totally believe information gotten from Coinmarketcap especially in regards to trading volume because they most times fabricated.

What other ways can one identify and protect against trading manipulators?

I know SEC is among those fighting against these set of people and its among the reason bitcoin ETF as not been accepted but lately its seems more like SEC are fighting against Bitcoin and cryptocurrency and this as somehow brings FUD to investors and manipulators as seen this as an opportunity to manipulate the market with this can I say SEC as been instigating trading manipulation?

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Trading Manipulations. How to Prevent Crypto Market Manipulation?

What is Market Manipulation in Cryptocurrency?