See this as a question.

This business account company is new, make more research about it yourself.

On Android: https://play.google.com/store/apps/details?id=com.swwipe.app

It is a business account
You do not have to register the account name with your name, you can use any name that you like
For another bank to transfer cash to which is your bank, Opay, Kuda and Palmpay are not listed
Only commerical banks like First bank, GTbank that are listed
Said it is licensed by the Centralized Bank of Nigeria (CBN)


The last time I tried Chipper cash and other means bitcoin and other crypto P2P users can accept naira payment, I always see my name displayed if I want to send to myself. But with Swwipe, it is only the name that you used that will be displayed, not your real name.

I noticed on Nigeria local board that we do not like P2P. This might be because of privacy. Is this app worth using?

You can read more about it yourself. It is created for business and it has more features than what I have explained about it.

Is it worth it?

It is new so I will only advise people to try it with small amount of money. What do you think?

Hacked amount $2.7. Although, Tether has frozen $1.4 million

I created this on our local board because we Nigerians know many people among us are using this exchange. And this will be a warning again that if it is not your key, it is not your coin. Avoid saving on centralized exchanges. Move your coins to a noncustodial wallet and have the full control yourself.

Crypto exchange Remitano experienced large withdrawals under suspicious circumstances on Sept. 14, with some blockchain analysts concluding that it may have been hacked. A total of $2.7 million worth of crypto has been withdrawn through the suspicious transactions. Tether has frozen one address the attacker allegedly used, potentially saving $1.4 million worth of customers’ crypto.

Is deposit and withdrawal still available on Remitano or it has been disabled?

The link is about the state of web3 perception around the world:
https://consensys.io/insight-report/web3-and-crypto-global-survey-2023#05-crypto-awareness

Participants: 15000
Age group: 18-65
Languages: 9


Under table of contents, the fifth (number 5) is about crypto awareness. You can click on it if it is only what that interest you.

Although cryptocurrencies keep appearing in the media and the public sphere, do people really understand what they are? In general, there is a very high level of awareness about cryptocurrencies: 92% of respondents globally have heard about them. 50% of respondents stated that they have heard about them, and also understand what they are. The proportion of respondents who affirm they understand what cryptocurrencies are is much higher in Nigeria (78%), South Korea (63%), South Africa (61%) Brazil (59%), and India (56%), while being much lower in Indonesia and Japan, with only 1 in 3 saying they know what crypto is.

The proportion of respondents who affirm they understand what cryptocurrencies are is much higher in Nigeria (78%) while those that have heard about bitcoin and other cryptocurrencies in Nigeria is 99%.


I have once commented before on a post on this local board some months ago that people in my street know what bitcoin is. This is not a surprise for me. But I think this might not be accurate enough if the survey is taken in a rural area along, I am not certain.


What is your take on this?

User: cryptoEthS

Fake pepe airdrop scam.

He keeps spamming with it.

https://ninjastic.space/topic/5465384
https://ninjastic.space/topic/5465385
https://ninjastic.space/topic/5465386

[The margin between buy and sell on BinanceP2P has become wider recently:]

The margin between buy and sell on BinanceP2P has become wider recently:

This may lead to arbitrage trading.


 



Comparing it with Kucoin:



 



What do you think? Is this not profit for some people?

Despite the warning, Nigeria, Africa like stable coins. The reason for this thread. Awareness to convert your BUSD to bitcoin or other stable coins, or to dollar in your domiciliary account.

Many people among us do not hold naira because naira is a depreciating asset, we all hope maybe one day this would changed. But as of now, inflation has encouraged us not to save money in naira but in cryptocurrencies like bitcoin. But some Nigerians also prefer stable coins like USDT, USDC, BUSD, DAI, TUSD, USDP, FDUSD, ex cetera. BUSD because I know many people among us use Binance exchange.

It is better you convert your BUSD to bitcoin or other stable coins. I will advice people to use domiciliary account and hold dollar directly, but do not let us deceive ourselves, we know many people among us just want to avoid bank. But domiciliary account will still be my advice.

The purpose of this thread is to tell you people to just convert from BUSD without thinking about it twice.

Paxos Will Halt Minting New BUSD Tokens
https://twitter.com/binance/status/1697159019234791909

The main link the read: Binance Encourages Users to Convert BUSD to Other Stablecoins Prior to February 2024

As Paxos has halted minting of new BUSD, Binance will gradually cease support for BUSD products. Announcements will be released for any impacted services. Please be assured that BUSD will always be backed 1:1 by USD.

Binance will continue to support multiple stablecoins and digital assets on its platform. Users are encouraged to convert their BUSD assets into other available assets on Binance prior to February 2024. Users may trade their BUSD balances for FDUSD at zero trading fees, or convert their BUSD balances to FDUSD at 1:1.

Although Binance will allow people to convert BUSD to other coins until February 2024. I think this is one of the exchanges that knows how to plan for their customers not to panic, but not during hack.

If you see posts that is having enough quality, and useful, you can start reporting it so that hugeblack can merit it. Hugeblack is a merit source.

[Merit] Help posts in local boards that did not receive enough merits

Make sure you read the rules.

I only wanted to look at the daily BTC/NGN price on Binance and I saw bitcoin gone up to ₦122,886,640 eight days ago.



Is this not manipulation? I have also noticed this is not the first time if you look at the past prices, but just that this is more obvious.

[Obey the forum and local board rules]

I will edit this thread from time to time and more information will be added. I do not have time for now which will make me to take this slow.

You are free to ask questions here as a newbie. We are going to give you answers to your questions.
Obey the forum and local board rules

Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ
Unofficial General Guidelines For Posting( Na de koko dem)

Merit, activity, rank, position and badges

Merit and activity
FAQ: Everything you need to know about forum 'activity, account ranks and merit
Forum ranks/positions/badges (What do those shiny coins under my name mean?)

Staking of bitcoin address

As you have already registered on this forum, it is good to stake you bitcoin address. You can do that here: Stake your Bitcoin address here

Staking of your bitcoin address is used to claim the owner of a bitcoin address. It is good to stake it on this forum because if your Bitcointalk account is compromised or hacked, it can be used to recover back your Bitcointalk account.

You can not use an exchange address or a centralized platform address for staking because private key is used to generate the digital signature. You need a noncustodial wallet for it.

Recommended wallets for staking

• Bitcoin Core
• Electrum (you can not sign a message with bitcoin address on mobile Electrum.
• Bluewallet
• Sparrow
• Specter

What you will stake are:

• your bitcoin address
• your message (you can write anything you like)
• and the digital signature

You can stake your address to prove the ownership of your Bitcointalk account which can be important during Bitcointalk account recovery, borrowing of money, trading and changing of address in a signature campaign.

The use of the forum search engine for local board

For Google search:
For people that will prefer google search, you can use this for the search:

Code:

<topic title> Nigeria (Naija) - Bitcointalk</topic title>

For forum search:
At the left upper corner of this forum is a search space which you can use to search for topics. You can search for topics to know if the topic is already existing on this forum, to learn from the topic and the whole thread or to avoid thread duplication. But this is more about local board and I will be more specific to let you know how to know the threads that are existing on this local board which is the second forum search engine that you will see at the upper right corner on this forum which is beside 'home', 'help' or 'profile', 'my messages ' that are all written within blue color.



Click on the search -> write the topic you are searching for 'on search for'. At the down part, click on 'choose a board to search in, or search all' after you uncheck 'check all'. Look for Nigeria (Naija) and check ✔️ it and scroll down to click on search.


             

Before posting any topic or creating a new thread, you can use the search engines to know if there are existing topics already. You can use it to learn from existing topics as well.


Searching if recent occurrence has been created on local board, to avoid duplicating topic


Important info: [Guide] Searching effectively

[Key elements for conversion to LPG]

HydroCIS is Nigeria and West Africa’s First Energy Information Platform. So they are more reliable to give information about converting from petrol generator to gas generator. We have a thread about a warning last week, but which we are not satisfied with because it gives just simple information that there should not be a leakage but which we all that are using gas (in the Kitchen) all know about. Nigerians have even prefer to use gas to cook in the kitchen.

If you have a LinkedIn account, you can see the information HydroCIS shared which are about petrol to gas generator conversion.

You can check this site to see the information also: https://nairametrics.com/2023/08/07/hydrocis-shares-what-nigerians-should-know-about-lpg-powered-generators/

Key elements for conversion to LPG

According to HydroCIS, the key elements for generator conversions are:

High-quality cylinder regulator, which must have an excess flow shut-off valve.
High-quality safety relief which must be recertified every 5 years and replaced every 15 years. Note that all cylinder valves must have a safety relief.
High-quality cable ties that are used to secure gas hoses safely.
High-quality and high-pressure hose with no folds/cuts and must be replaced every 24 months. Note that water hoses are not suitable replacements for this.  
High-quality dual fuel carburettor that is properly sized for generator capacity and has an easily accessible fuel selector switch/knob.
Jubilee clips that are the correct size for the diameter of the pressure hose should be replaced as required. Note that the user should discard it if it is bent or broken.
HydroCIS also stated that when in use, the generator should be positioned firmly on the ground and ensure that vibration during operation does not result in a change in the position of the generator.  

HydroCIS also talked about the benefits like cost effectiveness and easy maintenance and the steps to take after deciding to convert to LPG.

Read more nairametrics or the infographics on LinkedIn. You will like the infographics.

I was sent an email today that Kucoin users can use wire transfer to send money. What I know about wire transfer is that someone from aborad can use it to send foreign currencies to you in Nigeria. This is why it can be useful on Kucoin to send foreign currencies to your Nigeria account. One of the reason I hate it is the time it would take before the money would be sent to you, it can take two weeks or more, although those are free wire transfers.

Kucoin wire transfer will take 3 to 5 business working days. The withdrawal fee is 80 USD.



The parallel market rate is getting higher than the I&E windows. Wire transfer will use I&E windows which is another reason this is not a good alternative at all.

Del

This is only for Nigerians
Kucoin website and Android OS supported. Not yet on iOS.
Trading pair is NGN/USDT
Minimum top-up: ₦5000

 


It is instant.

I have not used KucoinP2P before. I just saw this as a push notification which could be useful for Kucoin users among us.

Part of what I like to do on this forum is to report spam and off-topic posts, but I have not been reporting topics that contains referral link.

Does referral link violate one of the forum rules?

4. No referral code (ref link) spam. [1]

1. Such posts as "SELL SELL SELL", "I agree", "+1", "Support", "Watching", "Interesting", "LOL", "SCAM", "LEGIT", "FAKE", other one word posts, posts consisting mostly of swearing, quote pyramids, useless introduction threads, threads about a topic already recently discussed in several other threads.

I noticed that if some people bring legit site on this forum with their referral link, some people do point to number 4 of the Bitcointalk forum rules.

But what the referral link is only on the OP's topic and not elsewhere? I mean if not spamming with it.

Although, this is not new to us on this local board. In the Financial Act 2023, 10% capital gain tax for bitcoin and other cryptocurrencies was included and has been signed. But how about crypto regulation in Nigeria?

The president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), Obinna Iwunna, has commented on the implementation of the Finance Act, 2023, which was signed into law on May 28. According to Iwunna, the successful execution of the law will be challenging due to its premature introduction.

Continue to read on this link there are more to read: https://cointelegraph.com/news/nigerian-crypto-tax-move-is-premature-local-stakeholders

We have people of wisdom in Nigeria, but why the process to do something correctly is hard in the country. Nigeria need to be fast on regulating cryptocurrencies. The suspended CBN president failed to see how Nigeria government will earn from regulating cryptocurrencies, how cryptocurrencies will increase Nigeria economic growth and development and how it will increase employment. Even without regulation, employment increased and many Nigerians depends on crypto job as of today.

The SEC regulates securities and commodities in Nigeria, no doubt they are the best for this and work with law makers. I have not seen any law maker that is directly interested in crypto regulation. Also nothing about it coming from the president or the ministry of finance. SEC needs to be fast about this and work with ministry of Finance and the law makers. Or any of them should be fast about this.

In Africa, Namibia has passed a bill to regulate cryptocurrencies. South Africa will finally have a bill to regulate cryptocurrencies by the end of this year. When is Nigeria crypto regulation coming?

https://cointelegraph.com/news/nigerian-crypto-tax-move-is-premature-local-stakeholders
https://cryptonews.com/news/namibia-passes-bill-for-licensing-regulating-virtual-asset-service-providers.htm
https://www.bloomberg.com/news/articles/2023-07-04/south-africa-to-require-crypto-exchanges-licensing-by-year-end

Good news that the CBN rate has been removed from noncustodial wallets and exchanges' naira exchange rate as CBN do not determine the Investors and Exporters rate again. It was frustrating before, but I have seen it changed and more correlate to the parallel market rate.

This thread is strictly about BTC/NGN price speculation, neither altcoins nor any other fiat should be included.

Most or all of us here are using the parallel (black) market rate to exchange naira to bitcoin or bitcoin to naira. Because of this, we are going to use naira exchange rate in the parallel market. We are not using CBN rate, neither are we using Investors and Exporters rate. But this may change with time if there is any need to change it to I&E rate.

We can make short term or long term speculation. But we know how long term speculations are more accurate if compared with short term speculations.

We should not take the speculation on this thread as an information to be used for investment. This thread would likely be helpful, but research more before investing in bitcoin. Do not post on this thread if you have nothing good to speculate about. I will not make this thread to be self-modetrated, but any spam will be reported and most likely would be deleted by a moderator.

Edit:
Which exchange rate should be used? Parallel or I&E rate?

[The first:]

I saw the two sites on this thread: Btc accelerator sites. Posted by: anubizz, which might later get my red trust if those sites are scam sites.

The best would be from a mining pool operators confirming this.

If no solid evidence to prove the legitimacy of these two paid accelerators, no one should use both of them if you want to avoid scam.

The first: Free and Paid service.

https://www.bitcoinjumper[dot]com/

Paid Accelerate:
With paid submission your transaction will be manually added to be confirmed by one of our partner mining nodes. The fee for this special inclusion into one of the next blocks means you'll need to pay above the current miner processing rate for BTC/kB. This miner fee is automatically calculated for you to make sure you only pay what is needed.

The site also offer free accelerator, but obviously it can not work, just like other accelerators that should be avoided as they are doing nothing than rebroadcasting the transaction:

Free Accelerate:
With free submission you only need to submit it once and our app will resubmit your transaction every 15 minutes to the broadcast nodes automatically until confirmed. This is what makes our free BTC accelerator so powerful and user friendly.

The Second: Paid service.

https://btcnitro[dot]com/

Paid Accelerator:
Bitcoin transaction stuck or slow waiting for confirmation? This can happen with the network is very busy or if you used a low mining fee.

BTC Nitro sends your transaction to our network of mining partners who will include it in the next block they mine.

I too or anyone can come up with such idea and use it to scam people. Are they not scam sites? The bitcoin transaction accelerators that we should believe are the ones owned by mining pool like ViaBTC accelerator.

Federal government wants to remove fuel subsidy, but NLC are going against it. They want to strike, and Electricity workers are also in support, also planning to leave the nation in blackout. According to what I read from Punch:

Subsidy: NLC shuns FG meeting, electricity workers back strike:
https://punchng.com/subsidy-nlc-shuns-fg-meeting-electricity-workers-back-strike

During the meeting attended by the Governor of the Central Bank of Nigeria, Godwin Emefiele, Managing Director, Nigeria National Petroleum Corporation Limited, Mele Kyari, Dele Alake, and others, the NLC had insisted on the reversal of the fuel pump price pegged at between N488 and N540.

According to what the president had said, PMS (petrol) exported to Benin Republic, Cameroon and Republic of the Niger are also subsidized.

What I am thinking is that if fuel subsidy is removed, this will lead to inflation. But why subsidizing what that supposed not to be subsidized? I did not know who or the government that came up with such an idea that is now giving the country problem.

What do you think about this? Are the NLC right about this? Or fuel subsidy should just be removed and see its effect on economy?

I read a news recently about CBN dollar to naira exchange rate, that CBN has devalued naira from ₦465 to ₦630. Later it was said to be a rumour, but which many of us would have known as no changes in the parallel marker either.

https://twitter.com/cenbank/status/1664195669484097536?s=20

According to what I read later, it was reported that the rumour was as a result of what the recently elected president said about naira exchange unification and its importance.

In Nigeria, we know that different institutions like banks have their own exchange rate which is close/similar in price with CBN rate but different from bank to bank. Banks foreign exchange may not be possible anymore because CBN itself discouraged it.

CBN Ends Forex Sales To Banks

I do not know how true that is but I have watch a video before about how Nigerians can not more exchange naira to foreign currencies again in bank. You can obtain a dollar card in bank but which you will be the one to fund it yourself, not with the help of the banks.

Parallel market has its own price which is also different but what Nigerians are using because naira is more devalued in parallel market and of course it is what CBN will like.

The recently elected president talked about naira exchange to foreign currencies unification, and the rumour of CBN rate of dollar to naira, to ₦630 per $1 was what that happened next.

What do you people think would happen if the president make sure there is naira unification? Is it going to help Nigeria economy? We all know that if that is what would happen, CBN rate is going to become the parallel rate or there will be more decreasing of foreign reserves in Nigeria because we depend more on imports.

I do not know how true this is for now. But if true, is it not surprising that CBN is thinking that creating bitcoin and other cryptocurrencies is like printing fiat, naira to be specific.

I am still surprised to see this online. Please, if this is a fake news, let me know.

These are the valid links:

https://twitter.com/TheNationNews/status/1664301760876359681?s=20
https://community.thenationonlineng.net/forum/why-we-kicked-out-cryptocurrency-cbn?xg_source=twitter

Obiora said members of the private sector, fearing that the CBN’s decision to print more money will lead to hyperinflation decided to create cryptocurrency as a response.

According to Obiora: “When the central bank started reacting to COVID with what we call printing money and responding to the crisis, a lot of people in the private sector felt that printing of money could lead to hyperinflation and these private sector people decided to respond by creating cryptocurrencies.

I read this and I think I understood it. Or am I not getting what is on the news correctly? Because I am surprised that an official from CBN can say something like that.

Or is he right?