SEC don approve two crypto firms to operate as exchange.

[Felicity_Tide]

I am not really sure of how to comment about this, because from what I know, the Nigerian Government has been against crypto for long, and now they have registered two companies as stated by you, so does it mean that crypto usage is now fully legalized?. My problem with the government is that, they tend to implement certain rules that are not clear. It's just like telling a child not to go out, and at the same time, telling him/her to get you a milk from a shop across the street. Will they even operate as a proper exchange with good akp for their suppose customers?. I will really like to see how they will operate.

Well, I personally don't have plans on using such service, especially when I understand the current state of cryptocurrency usage in the country, and how our security agencies threat those in possession. I think the government are trying to play smart, and some people will definitely fall for it, as long as the two companies are understand the subject of the government.

[Davidvictorson]

But the problem wey I dey see bi say, the government go control this exchanges well well.  And then fit just nak any customer allegations to use the opportunity seize their money. Just check the way dem just freeze people account becos of allegation say na dem sponsor end bad government protest. The advice go bi say make we no go put plenty money for centralized exchanges because person money fit enter voicemail.

If you check sef you fit see say na one politician get this exchange. I nor fucking trust these people. Any Nigerian wey use am dey use am at their own risk. Personally I nor go ever dare say I even download their app for my phone talk less of to sign up. If them fit kidnapped that investigative journalist using his USDT address because say him not dey their side na this one dem nor go fit do?

[CryptSafe]

Well, I personally don't have plans on using such service, especially when I understand the current state of cryptocurrency usage in the country, and how our security agencies threat those in possession. I think the government are trying to play smart, and some people will definitely fall for it, as long as the two companies are understand the subject of the government.

Using such services is the least on the plan for now because you never can tell what the government is up to. They have never come out publicly to make announcement with respect to Crypto adoption and policy implementation in the country and of lately, they have a running battle with a global exchange which is yet to be resolved how come they were quick to approve two crypto exchanges for Nigerians to use.  Doesn't that looks fishy? I just pray no Crypto enthusiasts falls for that trap because it would be very wrecking and disastrous the out come of such mistake of any does use that exchange.

[Samlucky O]

But the problem wey I dey see bi say, the government go control this exchanges well well.  And then fit just nak any customer allegations to use the opportunity seize their money. Just check the way dem just freeze people account becos of allegation say na dem sponsor end bad government protest. The advice go bi say make we no go put plenty money for centralized exchanges because person money fit enter voicemail.

This thing wey you talk Naim be wetting I just dey reason, say Nigerian government no get good intentions for their people so anything wey go make person involved himself for their exchange, E better make person use foreign exchange make person money no go enter voicemail one day.

My question na bi say, which exchange you go like to dey use. You go like use the one wey don register with Niaja SEC or the foreign one wey men dey use since?

For this aspect I believe as Nigeria don delist P2P for some foreign exchanges, so we all know the exchange we dey use sell our coin them, I no wan talk about any exchange. For me I prefer to use the foreign exchange than the one dem registered with Naija sec.

[EarnOnVictor]

Yesterday the Nigerian Security and Exchange Commission just approve two companies wey bi Busha Digital Limited and Quidax Technologies Limited to enter the business of buying and selling of cryptocurrencies. Maybe this move dey show say the government don dey open thier door small small to crypto businesses.

Hahaha...I read the news some days ago and was just laughing, who cares? I've never seen a lagging government like the Nigerian government, what they ought to have done decades ago but were just busy playing politics and stealing people's money should never be celebrated now. Our foresight in the country is so poor but instead of waking up to the challenge, our government would start clamping down on companies thinking that is the best way out. What a shame!

As a good citizen, I sarcastically congratulate the government for this lagged achievement and I hope they will be true to their responsibility. On experience, Quidax is a "reaper" in the crypto field, my brother and I were victims of this company years ago. What do you expect of any company operating in the country unregulated? We caught it many times shifting the price in their favour (bucket shop), that's not cool and the reason why we left it. Thanks to Binance and others, there is no need for such like them when there are better transparent ones.

Specifically, if Quidax quoted your Bitcoin rate at $30,000 for instance, upon your acceptance of the deal, you might see it at $28,500 despite Bitcoin being stable in price. I wonder what could have caused that if not for fraud. I hope such will change this time that the company is being regulated by the SEC. That's if the Nigerian SEC is not being bribed as usual...lol