Naija Novice Hangout {Newbies introduction & Orientation} Thread.

[CryptopreneurBrainboss]

The Number of Crypto Users in Africa Grew By 2,500% in 2021

Despite estimated 45% of adults that owns smart phones and 33% that can access the internet on a stable basis in Africa. Yet, Africa has the highest rate in bitcoin and crypto adoption in general in 2021, even despite 86% in Europe and 81% in US that have access to a stable internet.

This story no clear, maybe dem they try say transaction increase and no be users. Same person fit dey do multiple transactions and no mean say users increase like dat. Me I dey perform many peer2peer transactions for exchange dialy and I know e dey count towards all this kind stats when they come out. although I no go doubt say users dey increase for kucoin. Many Nigeria dun dey find better alternative to Binance Exchange as dem Sabi mumu. Me self I dun open kucoin account earlier this year and na there I dey buy alts wey enta my eyes as dem get better low gems dem wey many top exchanges no get.

For the election matta, I know say finally we go only get options to choose form two old people from the top party wey he PDP and APC. Today Atiku just openly declare e intentions to run for presidency. Normally ehh I dey fan Atiku from day one due to e industrialized mindset although now e dun old. If finally e still come to this two old guys Atiku and Tinubu, I go prefer Atiku to emerge make we see if e fit bring his business ideas to help Nigeria.

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[Charles-Tim]

This story no clear, maybe dem they try say transaction increase and no be users.

It is 1386.7% increase in transaction, while 2467.2% (approximately 25x) increase in number of users. If you noticed, IP address was included in the article. Although, it is not directly linked to the article but I guess IP addresses were used to get the result.

The average number of monthly transactions across African countries has shown a 1,386.7% increase from January 2021 to January 2022. The number of users has also increased significantly, showing a 2,467.2% spike over the same period. The average amount per transaction has, however, decreased, indicating that the adoption of this technology is taking place not only for large transfers, but for small payments as well.

Snowballing demand and the increase in user numbers by almost 25 times in the last year shows the readiness of the population for such changes.

Although, some Africans can be using different IP addresses, rerouting VPN, DPN and Tor connections to access different wallets, and also using different IP address for different exchanges. All these can make the methodology used not to be completely accurate if it is based on IP addresses, but this still gives us a prove that number of crypto users in Africa significantly increased in 2021.

[CryptopreneurBrainboss]

All these can make the methodology used not to be completely accurate if it is based on IP addresses, but this still gives us a prove that number of crypto users in Africa significantly increased in 2021.

True but the mata here be say this survey or stats na mainly based on users on kucoin right? If yes then wetin dey increase cryptocurrency users on the platforms. Are new African users likely to use kucoin, normally dey no get African market, like their exchange no sound over here. I no dey talk about just Nigerian but Africans as a whole. If you dey watch all this crypto hangout, seminars etc na Binance dey always get representative. Even for the AFCON wey just finish na still binance sponsor am, all this dey increase their awareness and fit draw in new users users, wetin kucoin dey do?

Wetin I dey try talk na say maybe this supposedly new users,  majority fit be just old users for the game already and they just changed exchange. For the VPN mata you dey also make sense and make we no forget say for a very good amount of last year Nigerians been dey use VPN wella, me I dey always forget my own login/access other platforms.

[Mpamaegbu]

Bestchange get free one man slot now. Abeg, those of una wey dey come there make una make sure sey una posts tap wella and no yamayama inside to avoid stories wey go touch d kidney. Who get ear make e hear. One luv!

[CryptopreneurBrainboss]

Bestchange get free one man slot now. Abeg, those of una wey dey come there make una make sure sey una posts tap wella and no yamayama inside to avoid stories wey go touch d kidney. Who get ear make e hear. One luv!

Wise words, for group self many people dey commot buddy remembering stories of you and poka. Me I dun advice poka to apply again, last time they accept am if him sure say e account clean make him go reapply. For others this Snr man campaign dem dey expose your account to the forum so you  go also get benefits nobi only losses. Just do wetin dey necessary, review your account wella and apply.

My whole advice to every Nigeria for this coming election wey wan happen for 2023 be say.
2023: Don’t die for dia wars oooh. All politicians be friends. Buhari, Atiku, Tinubu & co are all friends. If you no see that at his son’s wedding, you dey on a long thing.
Be wise and vote rightly in 2023. No go kill and dull yourself for dia matter

Very true, e just dey like the videos wey I see few months back wey Wike dey vibe with some APC members for night but if na morning now. Dem go dey fight fight demselves. Politics is an interest game that's why there's a saying 'There's not permanent friend or enemies' everything dey do na for their pocket (interest), know this and participate wisely.

In other news: How Zugacoin is Gaining Grounds in The Nigerian Crypto Market, says Prof. Zuga

Abeg wetin be this coin, I know say e get the time wey e been dey reign for the country then e come die after people realizing say nothing come out for the coin side. Anybody get information on this, which exchange e dey trade etc

[Charles-Tim]

In other news: How Zugacoin is Gaining Grounds in The Nigerian Crypto Market, says Prof. Zuga

Abeg wetin be this coin, I know say e get the time wey e been dey reign for the country then e come die after people realizing say nothing come out for the coin side. Anybody get information on this, which exchange e dey trade etc

It's a shitcoin not worth going for.

All-time-high, $285677.51 according to Coinmarketcap (in September)
Average recent price, $1210 (Coinmarketcap)

Trading on:
https://coinmarketcap.com/currencies/zugacoin/markets/

It's a shitcoin not worth going for.

[Doan9269]

COMPUTER VILLAGE TO RELOCATE GO KATANGOW IN LAGOS

I believe say most of us hia dey used 2d popularly known computer village for lag wey dey ikeja under-bridge, some of us sef dey dia dey huzzle or awa brothers bin dey dere making trades, na so i jam d news from d nation's newspaper saying government dey relocate people comot d whole place go katangow for lag.

As we all know well that computer village is one of the centres for information and technology gurus and any kind of digital device pakages, selling and buying is fast moving with such location and considering the proximity, its not far to been accessible, i can't count on several occasions I've been their even earlier last month, one of the amazing aspect of CV is that name whatsoever thing you could ever wanted regarding computer and digital technology is made available there.

The other side of the story is that marketers are complaining of leaving that specific location will impose great loss on them such as loosing their customers, poor sales, high transportation cost, wasted paid rent for the year, proximity to their harboard, and the likes will all affect their businesses as it implicate starting all over again.

Advise please, what do we see to this?

https://thenationonlineng.net/computer-village-relocation-traders-count-losses/amp/

[Maestro75]

Na Wiwo wey dey understand me well when I dey talk about Nigeria politics.

No be say I no deh understand you like that. Na just say because I want make we deh call this people weh deh misbehave out and not to deh defend them. They misbehave, they see anyhow. Maybe na wetin go make them sit up.

infact you personally e get as your money go long reach you no go send Nigeria again and whoever wants to be president.

No be so people deh see am o. E get wetin you fit do as president weh your money with all the muscles weh e get no go fit do. Wetin make you think say Tinubu want to be president for? Abi Tinubu no get money reach? Tinubu has enough money. Infact na billionaire weh him be but still he wants to be president. He wants absolute authority. Na the thing weh money no fit do be that.

If we youths wan make difference, make we fight for Vice president, Speaker, Senate and governors, so dat we go fit mature for the surugede dance.

Na real tough dance e bi o. But make we talk true. All the elective positions weh the youths them enter wetin come out of them, any improvement? See Yayaha Bello of Kigi state, abi no be youth? One time like that the House of Representative for Nigeria get youthful leader called Dimeji Bankole but no better thing happen then. He joined the old politicians yo pack money.

[CryptopreneurBrainboss]

It's a shitcoin not worth going for.

All-time-high, $285677.51 according to Coinmarketcap (in September)
Average recent price, $1210 (Coinmarketcap)
Trading on:
https://coinmarketcap.com/currencies/zugacoin/markets/
It's a shitcoin not worth going for.

Thought as much, the coin name self no follow and for the fact only one person self dey carry am for head I no go surprised if e turn another ponzi scheme. Coinmarketcap sometimes no dey try, I understand them be just ranking site for coins but we know dem no be decentralized platform so why not just use ur centralized privilege and declined some of this coins listing. I fit remember that year wey projects dey use Coinmarketcap as achievement and some newbies still dey buy into that crab, thinking just because it's on coinmarketcap, it's worth investing/legit.

infact you personally e get as your money go long reach you no go send Nigeria again and whoever wants to be president.

Brother no be so oh, na person self wey no get money no dey reason who wan be president but you see this man dem wey hold, dem dey reason oh. Na president doings get make ur business grow or fall based on the economy of the nation. Imagine if buhari dey around for another eight years. Naira go devalue to the extent e go belike everybody poor for the country.

[Igebotz]

All these can make the methodology used not to be completely accurate if it is based on IP addresses, but this still gives us a prove that number of crypto users in Africa significantly increased in 2021.

True but the mata here be say this survey or stats na mainly based on users on kucoin right? If yes then wetin dey increase cryptocurrency users on the platforms. Are new African users likely to use kucoin, normally dey no get African market, like their exchange no sound over here. I no dey talk about just Nigerian but Africans as a whole. If you dey watch all this crypto hangout, seminars etc na Binance dey always get representative. Even for the AFCON wey just finish na still binance sponsor am, all this dey increase their awareness and fit draw in new users users, wetin kucoin dey do?

Because of the Bitcoin restrictions in most of the leading African countries, exchanges such as Binance, OKX, HitBtc, and the rest are not very popular in Africa; the most popular platforms are p2p exchanges such as Paxful, localbitcoin, and the rest. Binance may be the world's largest cryptocurrency exchange in terms of trading volume, but it is not the most popular in Africa. Right now, there are more Nigerians on Paxful than on Binance.

[Charles-Tim]

Because of the Bitcoin restrictions in most of the leading African countries, exchanges such as Binance, OKX, HitBtc, and the rest are not very popular in Africa; the most popular platforms are p2p exchanges such as Paxful, localbitcoin, and the rest. Binance may be the world's largest cryptocurrency exchange in terms of trading volume, but it is not the most popular in Africa. Right now, there are more Nigerians on Paxful than on Binance.

I am not sure if there are more Nigerians on Paxful than Binance for P2P transactions, but there are many custodial exchanges that supports P2P means of exchange. Binance, Huobi, OKX and many other have P2P means of exchanging fiat to bitcoin or altcoin(s) or vice versa. Binance is a very popular exchange in Nigeria, or maybe in my region, that some people are even having misconception about it, thinking it is a wallet. I have corrected many of my friends about it. Nigerians trade P2P very well on OKX too. You will be surprised how Nigerians are using Huobi if you see how plenty Nigerians are on that exchange doing P2P trading just like Binance.

Some people may not use exchanges like Binance because they want to use ads for P2P trading, this is easy on Paxful, even someone that just registered can display ads on Paxful (correct me if wrong) unlike Binance that you will need to have to make 20 P2P trades before you can do that (that can be frustrating to some Nigerians). But there are many Nigerians on those exchanges, especially Binance and Huobi.

[BIT-BENDER]

Weldone everyone abeg I one make a request, as of now many people dey believe say the Altcoin season go lap for Crypto market soon, although I no dey believe in speculations, I gats the plan for anything, so I one request say make we share our Altcoins experience, the way we choose altcoin, anyone that has giving us financial heart ache and those that put smile on our faces.
I no many of us go benefit from this kind talk.

[Maestro75]

I no many of us go benefit from this kind talk.

And many oga them for here go tell you say altcoins na shitcoins, say make you run away from investing there. Sometimes e deh happen like that weh dem talk but most times e no deh be so. Altcoins deh give money and altcoins deh reck people too. My own be say if anybody want to invest in altcoins make them look for solid ones weh get better team. No just follow follow coins weh people deh hype.

[Igebotz]

Because of the Bitcoin restrictions in most of the leading African countries, exchanges such as Binance, OKX, HitBtc, and the rest are not very popular in Africa; the most popular platforms are p2p exchanges such as Paxful, localbitcoin, and the rest. Binance may be the world's largest cryptocurrency exchange in terms of trading volume, but it is not the most popular in Africa. Right now, there are more Nigerians on Paxful than on Binance.

Some people may not use exchanges like Binance because they want to use ads for P2P trading, this is easy on Paxful, even someone that just registered can display ads on Paxful (correct me if wrong) unlike Binance that you will need to have to make 20 P2P trades before you can do that (that can be frustrating to some Nigerians). But there are many Nigerians on those exchanges, especially Binance and Huobi.

Another reason why P2P platforms such as Paxful and LocalBitcoins are more popular in Africa than Binance is that P2P vendors on Binance are charged 0.2% 0.5% on each transaction, which is why most vendors charge N100 for VAT charges.

Weldone everyone abeg I one make a request, as of now many people dey believe say the Altcoin season go lap for Crypto market soon, although I no dey believe in speculations, I gats the plan for anything, so I one request say make we share our Altcoins experience, the way we choose altcoin, anyone that has giving us financial heart ache and those that put smile on our faces.
I no many of us go benefit from this kind talk.

If you want to invest in altcoins, you should avoid Twitter crypto influencers and YouTube influencers because the majority of them are paid to hype shitcoins. The most promising altcoins to invest in for the long term are blockchain coins and multi-chain tokens. This is the best time to invest in altcoins, and I'm holding some of the best tokens/coins that I believe will skyrocket in the next 2-3 years: #ADA, #ONE, #MATIC, #SPELL, #AVAX, #LUNA, #CAKE. If you hodl these coins now, they will do well in the next 2-3 years.

Meme and Gamefi tokens are the best options for a short-term investment.

[CryptopreneurBrainboss]

Weldone everyone abeg I one make a request, as of now many people dey believe say the Altcoin season go lap for Crypto market soon, although I no dey believe in speculations, I gats the plan for anything, so I one request say make we share our Altcoins experience, the way we choose altcoin, anyone that has giving us financial heart ache and those that put smile on our faces.
I no many of us go benefit from this kind talk.

How you no go believe in speculations when the whole industry na just speculations e dey survive on. Without speculators the market no for dey active and probably die off the radar. This same speculation of the future been operated in the metaverse na him dey give the projects working in that sector exposure just as bitcoin been dey get previously based on people believing the current money system go soon crash and decentralized currency take over.

As for the Altcoin season, the truth be say this last bull cycle no end well. When we finish no body expect am so everybody still dy believe we get another move incoming. Of Bitcoin begin they pump as e dun dey show signs then definitely alts go benefit bit in my own opinion I no think low cap coins go benefit that much instead those too established coins especially those with links to metaverse fit follow Bitcoin they go up if this him current momentum continues.

[Charles-Tim]

Another reason why P2P platforms such as Paxful and LocalBitcoins are more popular in Africa than Binance is that P2P vendors on Binance are charged 0.2% 0.5% on each transaction, which is why most vendors charge N100 for VAT charges.

I am not certain if percentage is used on Binance, I just noticed I wanted to be charged $1 when I wanted to try it out sometimes ago.

What I also noticed on Binance, if you want to exchange ₦20000 or below, likely you will be charged ₦100 by the vendor, but if you are buying or selling ₦30000 or higher amount worth of bitcoin or altcoin(s), there should be no any charge. Especially if the seller is having low amount in total it displayed ad for, they charge, but if the person display ad for very high amount, he will not charge. Although, Nigerians displaying ads on the P2P exchange on Binance would have their own rules but it has been like I comment about it.

As for the Altcoin season, the truth be say this last bull cycle no end well.

If you compare prehalving price and all-time-high in 2016/2020 with 2020/present, the percentage rise is almost the same which are both above 5x, below 6x but 2016/2020 a bit higher in volatility. This may not be accurate if used to analyze, but it indicated to certain extent that $69000 could be bitcoin all-time-high price until 2024/2025.

Russia could be planning to include bitcoin as a means of exchange with its crude oil export, I do not know if this triggered the continuing bull market today. Bitcoin reached $45800 in the last bull market, let us see if this price would be achieved again first. If bitcoin increase beyond this price, then I will believe bitcoin can got to $49900. But I do not believe in all-time-high for now until 2024/2025.

I too do not believe in analysts, especially when making short term speculation. But I believe all-time-high would be achieved after long period of time.

[Maestro75]

Russia could be planning to include bitcoin as a means of exchange with its crude oil export, I do not know if this triggered the continuing bull market today.

Ok, so na the thing weh cause price to rush up today? I was asking what caused it. Now I get the koko. Na around 17hrs ago self weh that news come out according to the article weh you share. This one mean say better things deh in stock for bitcoin. Oya Russia go and pack bitcoin o. Those weh buy bitcoin last week or even two days ago are very lucky now. Make the thing just deh rise deh go like that so men can smile small. Also, I hope una remember say today na Ghana-Nigeria match. In 2hrs time the match go shelle. Goodluck 9ja.

[Doan9269]

Exxon Mobil Plan using Waste Natural Gas in Mining Bitcoin In Nigeria.

Nigeria is one of the fast groy developing countries in the world and Africa at large, it is said to rank third in the global statistics of bitcoin users and first in Africa respectively, going with the consideration of how fast is the booming of  bitcoin activities in the country and considering the population of user on exchanges from the region, it could be said that Nigeria has a suitable avenue with great potential for bitcoin expansion.

Exxon Mobil, which is an oil and gas company in the United State is determined to set a "bitcoin mining activities in Nigeria using waste from the natural gas" in other to help create an effective maximization of the waste energy realized through the exploration of crude oil thereby converting the energy for use in bitcoin mining rather than constituting environmental pollution of waste energy.

Exxon Mobil is trying to reduce its carbon footprint by turning excess natural gas, which would otherwise be burned off, and would cause harm to the environment, to become useful in generating revenue for the company in form of crypto mining.
https://nairametrics.com/2022/03/24/exxon-mobil-to-run-pilot-bitcoin-mining-operation-in-nigeria/?amp=1

Better opportunities await Nigerians as it about to set a new record for its first bitcoin mining in the south south region where oil and gas exploration takes place.

[Charles-Tim]

Exxon Mobil Plan using Waste Natural Gas in Mining Bitcoin In Nigeria.

Better opportunities await Nigerians as it about to set a new record for its first bitcoin mining in the south south region where oil and gas exploration takes place.

These natural gases are waste products and burned but bitcoin mining is making these natural gases to be useful, the petroleum company will sell the natural gases (which suppose to be a waste) to the bitcoin mining company. I believe Nigeria government will accept this. Bitcoin making wastes to become a useful material that would add to the economic growth of a nation.

Also three other countries are included by Exxon, the largest oil producer in United States.

The oil giant has an agreement with Crusoe Energy Systems Inc. to take gas from an oil well pad in the Bakken shale basin to power mobile generators used to run Bitcoin mining servers on site, said the people, who asked to not be named because the information isn’t public.

Exxon, the largest U.S. oil producer, is considering similar pilots in Alaska, the Qua Iboe Terminal in Nigeria, Argentina’s Vaca Muerta shale field, Guyana and Germany, one of the people said.

Maybe, with this, Nigerian government can start knowing the usefulness of bitcoin and not listening only to CBN decisions on it which we have known to be anti-bitcoin criticisms.

Ok, so na the thing weh cause price to rush up today? I was asking what caused it.

Just a fundamental analysis. Positive news at times can make people buy bitcoin. Also how about this March 17 news about Terra plans to obtaining $10 billion worth of BTC as reserve.

We’re already buying’: Terra founder plans to obtain $10B BTC for reserves.

[Maestro75]

Also how about this March 17 news about Terra plans to obtaining $10 billion worth of BTC as reserve.

We’re already buying’: Terra founder plans to obtain $10B BTC for reserves.

If I be big time investor I no go trust this Terra news like I go trust the news on Russia accepting bitcoin for oil and gas sales. One of my reason be say I no go believe any businessman weh tell me say him deh push a rival business when him own business deh there. I doubt am. Another one be say Russia na big player for oil and gas and if them begin accept bitcoin in exchange for that na better demand e go be for bitcoin o. Omo you go see rush weh go happen.