Naija Novice Hangout {Newbies introduction & Orientation} Thread.

[Cookdata]

It is a disappointment that Tatcoin failed to be the proposed Africa's cryptocurrency. I was happy that such technology was coming from us the giants of Africa. I didn't know it wouldn't last

The truth is this, I hardly invest on Nigeria crypto project and no cap or hard feelings. Nigeria has a long way to go and a reputation to build and this is why they are still far above the oyibo guys.
I have met some start up with good Idea about crypto project and Defi but it's lacking finance and angel investors because of what we represent and the experience. There is this project I was following, they called it Credit. The project was physically marketed to many Nigerians and also sold in many p2p's. The volume is zero with a 15k market cap.
There is another one, they called it Markaccy, they did a private sales and listed on Hotbit and MEXC, they manipulate the whole coin to $2 and it was later dumped by team. they locked about 81% of some presale and till today, they have abandoned the project without any development.

It's not easy to manage crypro project sha but we still have a long way to go when it comes to digital currency. CBDC wey every country they manage, e reach Buhari turn, the thing no work.

[Anguwa]

Nigeria to join "Financial Action Task Force"

Good morning my fellow colleagues, I was going through my news channels this morning, I jam this news that Nigeria Government is showing interest to join "Financial Action Task Force (FATF). And according to them, this task force they in charge of monitoring financial terrorists globally. Also that this task force have their standard towards handling unnecessary financial activities that have effect to the society in general.



Source: https://cryptotvplus.com/2021/10/nigeria-to-join-financial-action-task-force-fatf/

I was confused and I want to know how this matter take relate to cryptocurrency, na why I decide to bring this up here so that my senior colleagues in the likes of @Charls-Tim, @cryptopreneurBrainboss and other senior colleagues to shade more light in this issue. Thanks so much as I await different opinions on this matter.

[Charles-Tim]

Nigeria to join "Financial Action Task Force

First of all, the best is for individual to learn ways to avoid scam, these can be through online forums and researches, but many people no dey concern about how to avoid scam until they are scammed. Irrespective of the existence of certain governmental and intergovernmental organizations, criminal activities can never extinct, scam is inevitable. Although, it can be reduced, but the main focus of this organizations should more be about how to spread 'how to avoid scam' to people all over the world.

About terrorism financing, it dey good to be monitoring this but nearly all terrorism financing are not in cryptocurrencies, fiat proved effectively efficient for terrorism financing. Examples are the Dapchi girls in which the Nigerian federal government paid naira to Boko Haram. Bandits and the increasing rate of abduction in Nigeria is also increasing, all demanding for naira.

I do not see how this will affect cryptocurrencies, what this intergovernmental organization is all about are criminal activities, but fiat are mostly used. About cryptocurrencies, there are also ongoing regulations going on already, but criminals just as they were able to make successful criminal activities while using fiat are now also making use of fake KYCs on centralized exchanges and other centralized platforms.

[Igebotz]

Nigeria to join "Financial Action Task Force

About terrorism financing, it dey good to be monitoring this but nearly all terrorism financing are not in cryptocurrencies, fiat proved effectively efficient for terrorism financing. Examples are the Dapchi girls in which the Nigerian federal government paid naira to Boko Haram. Bandits and the increasing rate of abduction in Nigeria is also increasing, all demanding for naira.

Yes statistically most of the ransom payment has been in Fiat but we can not say the same about funding, the terrorism situation in Nigeria and Africa at large are heavily funded by the people in the government and I'm sure most of funding are paid via crypto currency, why some are paid through gold and other natural resources.

I do not see how this will affect cryptocurrencies, what this intergovernmental organization is all about are criminal activities, but fiat are mostly used

Agreed but the major aim of the FATF is to track money laundering in crypto currency space,  with the high adoption of cryptocurriencie among our politicians e make sense to have this organization in the country because sooner or later our politicians will start laundering money with crypto currencies.

For those who want to use E-naira you want to know the charges

1. You are given 90 days free transactions afterward you pay N10 for transactions from N5000 and below, N25 from N5001 - N50,000 and N50 for N50,001 and above, this is insane charged man.

[Charles-Tim]

Yes statistically most of the ransom payment has been in Fiat but we can not say the same about funding, the terrorism situation in Nigeria and Africa at large are heavily funded by the people in the government and I'm sure most of funding are paid via crypto currency, why some are paid through gold and other natural resources.

Although, we are now in 2021 and the year has almost ended, but according to Chainanalysis report last year, less than 1% of crypto transactions are involved in illicit activities. Also, Africa has the lowest share of regional cybercrime value sent. Scam receive most of the illicit value. There is much about Darknet like drugs...







With this report not emphasizing on terrorism, I do not think cryptocurrencies are used for terrorism in Africa or just little are used if compared to fiat. People supply terrorists foods and other things they need will even prefer it in fiat. Although, may Nigeria terrorists will be gradually changing from fiat to cryptocurrencies, but cryptocurrencies like bitcoin can not be used as its blockchain is transparent and available to the public.

For those who want to use E-naira you want to know the charges

1. You are given 90 days free transactions afterward you pay N10 for transactions from N5000 and below, N25 from N5001 - N50,000 and N50 for N50,001 and above, this is insane charged man.

ENaira is naira, I do not see the difference between them both while I will also prefer to make use of naira directly for payment with low charge. Also, CBDCs are not cryptocurrencies, they are just digital currencies not different from the digit fiat used for electronic transactions.

[Anguwa]

Nigeria to join "Financial Action Task Force

First of all, the best is for individual to learn ways to avoid scam, these can be through online forums and researches, but many people no dey concern about how to avoid scam until they are scammed. Irrespective of the existence of certain governmental and intergovernmental organizations, criminal activities can never extinct, scam is inevitable. Although, it can be reduced, but the main focus of this organizations should more be about how to spread 'how to avoid scam' to people all over the world.

About terrorism financing, it dey good to be monitoring this but nearly all terrorism financing are not in cryptocurrencies, fiat proved effectively efficient for terrorism financing. Examples are the Dapchi girls in which the Nigerian federal government paid naira to Boko Haram. Bandits and the increasing rate of abduction in Nigeria is also increasing, all demanding for naira.

I do not see how this will affect cryptocurrencies, what this intergovernmental organization is all about are criminal activities, but fiat are mostly used. About cryptocurrencies, there are also ongoing regulations going on already, but criminals just as they were able to make successful criminal activities while using fiat are now also making use of fake KYCs on centralized exchanges and other centralized platforms.

Well expressed and i don learn more, though we are here to learn and give contributions. I will never for once regrets knowing my native community in this great forum.

[CryptopreneurBrainboss]

I dey very disappointed wey thing dey turn out and just like others I go soon pull support from the struggle make una kill d place with English una hear continue. Wen all Snr members dey speak Grammer like wetin I no know wetin una expect from the new comers. Place no even dey sweat again to talk. Continue.

Na wetin people go use vex for me na him I go dey do now lol. Need join this WhatsApp trend.

[Igebotz]

Notice of N80K MSMEs Survival Fund For Beneficiaries Not From Us, FG Warns

There is a fraudulent message spreading on WhatsApp asking you to drop your bank account details to enroll for N80k MSME's survival fund from the minister of trade and investment, please disregard such information and do not share your bank details to any maga. According to what the HON Minister talk she yarn say all na frausters dey send those messages say the ministry nodey give the said amount, she talk say and I quote....

The amount given to beneficiaries remain N30,000 and N50,000 for payroll support; N30,000 for artisans and transport grants; N50,000 for the general MSMEs grant; and N100,000 per MSME for the guaranteed offtake stimulus scheme."

Abeg make una use una head the country is hard but no be everything you see you go put head and expose your bank

Na wetin people go use vex for me na him I go dey do now lol. Need join this WhatsApp trend.

Na to dey cause trouble I wan dey do now..  

[BIT-BENDER]

I dey very disappointed wey thing dey turn out and just like others I go soon pull support from the struggle make una kill d place with English una hear continue. Wen all Snr members dey speak Grammer like wetin I no know wetin una expect from the new comers. Place no even dey sweat again to talk. Continue.

Na wetin people go use vex for me na him I go dey do now lol. Need join this WhatsApp trend.

Na wetin go bring this board together na wetin go do sir, you are the heart and brain here and you be person I respect so much, no doubt wetin you don do for the nigerian struggle and also wetin you don do for the forum join, you be man for real, but I one make you no too reason mata, no throwaway the struggle just like that, e no easy sha to dey talk one thing over and over but for the sake of the realization of the board I plead make you forgive, and abeg we have more than twenty boards to do our thing this is just the only one we get make we no complete run english for our post, even me way dey yarn pidgin I no too like am.

[CryptopreneurBrainboss]

Ma people, if you dey stay PH den better dey, this guy wey get this company dun dey this forum before e username na Paradise25 if you dey free d day of this event no miss am as you no go regret am. Make una no see this thing as advert as shishi no dey enta my pocket but I say mak I update una.
 

Na to dey cause trouble I wan dey do now..  

I dey tell you, like dis now eh I wan enta anywhere belle face for forum go cause havoc.

***

Boss wetin you dey talk, forget dat one. Right now ehh na wetin go pain people I wan dey do now, since all of us the crazy make we crazy dey go.

[nelson4lov]

Today I saw this on instagram and I am dumbfounded. It seems Bitcoin chief played on our sentiments and want for a digital currency for Nigerians made by Nigerians and pulled a fast one. He has unfollowed everyone on his page and deleted all his posts. It looks like he is wiping his slate clean. What do you think? Did you buy Tatcoin and are you still going to hold after this drama? 

I just check him Instagram now and I no see anything of such nature. While I never hold tatcoin before or even plan om buying anytime soon, I still admire wetin the guy dey do. If you notice, we no get much creators and crypto CEOs in Nigeria. Na why I dey enjoy whenever I see am striving and trying to take crypto in Africa to another level. Him Instagram still dey. Him dey even collect new investments for a new project last time I been check am on Facebook, Meta.

[Rruchi man]

Ma people, if you dey stay PH den better dey, this guy wey get this company dun dey this forum before e username na Paradise25 if you dey free d day of this event no miss am as you no go regret am. Make una no see this thing as advert as shishi no dey enta my pocket but I say mak I update una.
 

The venue kukuma near my house, i go must carry my two leg that day if i nor get engagement, i go enter that way go update my cryptocurrency knowledge from my oga dem. Na better thing be this oooo, opportunities like this, person nor suppose dey miss am. if you dey PH side, my people...make una lap the remit side make we update our knowledge on crypto, i sure say you nor go regret am.

[CryptopreneurBrainboss]

The venue kukuma near my house, i go must carry my two leg that day if i nor get engagement, i go enter that way go update my cryptocurrency knowledge from my oga dem. Na better thing be this oooo, opportunities like this, person nor suppose dey miss am. if you dey PH side, my people...make una lap the remit side make we update our knowledge on crypto, i sure say you nor go regret am.

I dey tell you  me I no dey talk ear hear say any free cryptocurency seminar dey oh. I dey lap that place steady to the update my knowledge. You see trading ehh I no understand why I never learn that thing. I feel like say na waste of time as forex do me 40 back in the days. I blow my 2.5k account that year wey to see money hard. The thing weak me ehh but we push on.

Me I go try make out chance to lap there as well. Any means to use secure the bag na wetin I wan dey do now. We don Sabi how to get the money, na multiplying am na e remain. As e be like this, we go soon enta bear market so we get just few months remaining to secure enough cash to hold us through the pandemic period for crypto.

For another news, our brother wey dun do well for himself dun get permanent banned; Nathrixxx appeal thread, make una try dey take advice abeg because e dey worrisome the way we just dey decrease for the forum.

[Charles-Tim]

I blow my 2.5k account that year wey to see money hard. The thing weak me ehh but we push on.

Crypto trading no that dey different, the best is to use low amount (very low amount of money) to start for months to a year or more as it is very risky. Trading is not that hard, na leverage trading that is most risky. Trading is not about the losses when position is opened, it dey about gain after position is closed, but leveraging could have resulted to liquidation before the trade favours the trader's position. Also life work best most for people that turn smartness into profit, not only about trading.

[Marykeller]

Ma people, if you dey stay PH den better dey, this guy wey get this company dun dey this forum before e username na Paradise25 if you dey free d day of this event no miss am as you no go regret am. Make una no see this thing as advert as shishi no dey enta my pocket but I say mak I update una.
 

Na to dey cause trouble I wan dey do now..  

I dey tell you, like dis now eh I wan enta anywhere belle face for forum go cause havoc.

***

Boss wetin you dey talk, forget dat one. Right now ehh na wetin go pain people I wan dey do now, since all of us the crazy make we crazy dey go.

Baba I d think of when peso go take see you one on one cos person gat so many things to learn and relate with you about. If sae I dey ph I for show asap for the seminal.
I like the way you just d lecture people about crypto whereby impacting knowledge into them. Keep it up. You're doing well. Na oluwa go bless u

[Mpamaegbu]

@Marykeller, your username make me rememba one blind ogbenge female writer wey get dat same name. E bi like sey you too na literature lover, ba. Anyway, welcome to d fold.

[gabbie2010]

I blow my 2.5k account that year wey to see money hard. The thing weak me ehh but we push on.

Crypto trading no that dey different, the best is to use low amount (very low amount of money) to start for months to a year or more as it is very risky. Trading is not that hard, na leverage trading that is most risky. Trading is not about the losses when position is opened, it dey about gain after position is closed, but leveraging could have resulted to liquidation before the trade favours the trader's position. Also life work best most for people that turn smartness into profit, not only about trading.

Na dis crypto trading dey keep me busy wey bi say na binance app chart be my second place, I always dey do research everi time, I dey study those candlesticks patterns like ehh, I dey enter live trade with small money, omo money dey crypto trading if you know am well well. another thing be say you go enter express P2P straight and cash out na so alert go enter bank account sharp sharp, na cross margin 3x na im I dey do, I never get that boldness to dey do leverage trading wey be 125x, if you enter binance telegram you go see guys with big money

[Charles-Tim]

money dey crypto trading if you know am well well

For people that have the experience already, not for beginners. Beginners should use what they can afford as they will lose it all before they have the experience.

na cross margin 3x na im I dey do, I never get that boldness to dey do leverage trading wey be 125x, if you enter binance telegram you go see guys with big money

For isolated margin, low leverage is the best. Also it depends for cross margin in which you can reduce the money to enter position. 125x is highly risky, even 10x is very risky, but going for 3x is still better while lower leverage like 2 is better but no leverage at all is the best.

But professionals still make use of leverage (not high leverage) and make profit.

[BIT-BENDER]

I blow my 2.5k account that year wey to see money hard. The thing weak me ehh but we push on.

Crypto trading no that dey different, the best is to use low amount (very low amount of money) to start for months to a year or more as it is very risky. Trading is not that hard, na leverage trading that is most risky. Trading is not about the losses when position is opened, it dey about gain after position is closed, but leveraging could have resulted to liquidation before the trade favours the trader's position. Also life work best most for people that turn smartness into profit, not only about trading.

I confirm your last sentence my brother, I believe sey trading don suffer many people, even people wey don use time and their rab take learn am, trading no be moi moi case na person wey never start trading no go understand, but I be this kin person wey no dey give up and also wey dey get knowledge via many things, trading no be the whole koko for crypto-currency, I don see scammers wey dey rinse their hand with sey them be traders, this things they make rookies or newbies be like trading na the koko for them to turn millionaires, make una dey careful.

[Rruchi man]

trading no be moi moi case na person wey never start trading no go understand.

You remember that proverb abi na lingua for street -"who never go, nor go know". I dun meet many people for this life wey e be say if anything just bring up discussion of how money wan take come out, wetin you go hear na say - "I am learning crypto trading (others forex), so once i have enough money to fund my portfolio, i will start making money". Na good plan ooo normally, but the reality that they will come to terms soon when they start trading is that trading is not as rosy as they thought it was, people wey dey learn trading before them never learn finish, some others dun learn lesson, dem come stop, lol. All in all, anybody wey wan learn any trading, better tell yourself the truth about it, understand the risks involved, so that e nor go shock you.

Abi na wetin you nor understand you wan dey do?