Discourage by our country.

[Goddybit]

Why it is that Bitcoin is not accepted in our country (Nigeria)?

[Hackabu]

What is the situation there, exactly? Is it made illegal to accept it by the government authorities? Or is it simply the case that few businesses accept/pay in Bitcoins?

[CryptosapienZA]

Why it is that Bitcoin is not accepted in our country (Nigeria)?

Accepted how? I am not sure I understand what you mean because there's plenty of Nigerians that buy bitcoins. If by accepted, you mean retailers. Then that is all up to anyone who runs a business to start accepting bitcoin. As far as I am aware, there is no law in Nigeria that says bitcoin should not be accepted in Nigeria....

PS: I am not from Nigeria, I could be wrong. Please correct me if I am.

[OMGyasuo]

Do not own your own country I think that is the common situation of many countries. They do not accept btc simply because they want the banking system and the currency they are issuing to be the only way they can easily control and benefit from it.

[avikz]

Why it is that Bitcoin is not accepted in our country (Nigeria)?

WHat do you mean by not accepted? Is it not accepted by the merchants or has been blocked by the government? If it is about the merchants, then chill! That is not available in most of the countries so the people are using it as an investment asset instead of purchasing currency. However, if it is by the government, then you have to understand that your government don't want their people to stand financially.

Even in my country, the legal status of bitcoin is not clear. The government never issued any notice to the users nor legalized it. So I am mainly using it as a trading tool and as an investment asset. Whatever I cash out through out the years, I always include it in to my tax filing just to be safe.

[flag39]

IF YOU CAN OPEN THIS WEBSITE, THAN BITCOIN IS ACCEPTED IN YOUR COUNTRY.
You can get bitcoins from a lot of exchanges and you can get a credit card linked with your bitcoin, usable in any ATM or Shop that accepts VISA or You get your bitcoins and keep them to store value and gain profit as the price goes up. This is more than acceptance, it is usage value.

[fudster]

Don't take it that it comes from me but we all know there are thousands of scams coming from your country. I receive emails from prince and prince scams of Nigeria some are also becoming very creative that its almost very believable. I would approve not accepting bitcoin in your country.

But I'm sure you can earn bitcoin. Whatever you do with it and how you can encash it, its up to you.

[RomanPetrush]

Do not own your own country I think that is the common situation of many countries. They do not accept btc simply because they want the banking system and the currency they are issuing to be the only way they can easily control and benefit from it.

Probably that countries still haven't got real information about cryptocurrencies and how government can benefit from using blockchain technology. Because, countries with developed economics find out something interesting in that technology and accepting new banks on cryptocurrencies.

[MostHigh]

Ginvolobbybit your country do not accept bitcoin could be good considering the fragile nature of Nigeria's economy and it's exposure to scam. Bitcoin involvement might even worsen your case.

[neinnein125]

Economies are ruled by monetary policies. Bitcoin creates alternative road for common people. It is so unexpected that some countries completely ban bitcoin cause they cannot really measure how its gonna affect their policies and general economy.

[KennyR]

In Nigeria it hasn't have legalized acceptance for bitcoin. Same time there is not much opposition. Recently it's been stated that African countries are getting into bitcoin use and soon it helps with the growth of the country's economy. Also one of the transaction service provider mpesa was overcome by bitcoin due to the low transaction fee of bitcoin.

[Pursuer]

if bitcoin is not illegal in your country (which I don't think it is based on a google search) then it is like anywhere else, because people aren't really familiar with bitcoin. you may see bitcoin becoming popular these days but still there are so many countries that are behind this adoption curve.
and besides You can be the first to accept bitcoin in your country, for example if you have a business, shop or something like that, start accepting bitcoin payments. put up the sign and everything and begin spreading the word. that may even help your business.

[joseafonso123az]

Is it accepted or the problem is most of country people don't know about it? I am at Mozambique, and by their rules and regulations I don't see anything that makes bitcoin illegal. A different story is how many people around here actually knows what's a bitcoin or a blockchain, and these aren't much. if it is the same issue, it is not discouraging, it's lack of information about this topic maybe.

[matuson]

Nigeria is not an exception to the rule. Most countries in the world do not recognize bitcoin. Some of them allow you to use bitcoin for a limited number of operations. But you do not worry. All users use their bitcoins through exchanges. If you have coins you will find a use for them.

[phr0stbyt3]

So what there are still many countries which doesn't accept bitcoin this isn't discouragement some countries are still under development and implementing bitcoin really help them in any situation. However as of now I'm sure nigeria hasn't banned bitcoin so you can still purchase it and hold if you want it is not complusory that the country needs to regulate for you to purchase

[ss890]

Why it is that Bitcoin is not accepted in our country (Nigeria)?

As far as I know bitcoin is accepted in whole Africa. But in your case that might be related to technological advancement that we need to discuss. I mean Nigeria is not having big infrastructure of IT park as well as the internet is not wide spread. This I know from the friend of mine who studies with me in university and comes from Nigeria. I believe that's the reason government as well as merchants might not be accepting bitcoin yet. Let me know if I'm true.

[Andalusy]

that's same case with my country,, i m just waiting for that will be legal in my country, but the goverment usually can put the taxes from income,,

[Juggy777]

Why it is that Bitcoin is not accepted in our country (Nigeria)?

Well the answer that works for mostly all the country's is that it's not a legal currency, and very few countries have accepted it, and many countries do not really like it. Now why they don't like it, cause you can't track the owner of Bitcoins, there is no reverse payment, one can technically disappear with his coins and no one will even know where he went. No offence to your country but major scams are reported from Nigeria, and if it were to be allowed it could increase as it leaves no paper trail. So that's the simple reason why it's not keen,according to me that's the scene.

[deadsilent]

Im sorry about that mate. You country just banned Bitcoin recently (January 2017). I don't know why. Maybe just they see Bitcoin is a threat to your country's banking system. But there's still hope mate. I heard that government is working on possibility of adopting the technology. They already submitted the report and it's still on going. https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory. So cheer up.

[Netnox]

Why it is that Bitcoin is not accepted in our country (Nigeria)?

90% of the nations does not encourage the usage of crypto-currency, because they feel that coins such as BTC could be used for criminal activity such as payment of ransom and tax evasion. It is our responsibility to prove that Bitcoin is not linked to these criminal activities.