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Author Topic: Kucoin suspended P2P in Nigeria  (Read 338 times)
Antotena (OP)
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May 15, 2024, 07:01:54 AM
Merited by hugeblack (2), SmartCharpa (2)
 #1

woke up this morning and I decided to check rate as usual to see what's going on, only to my surprise, I couldn't find NGN/USDT and other trading pairs. It seems the Nigerian Security exchange commission are pushing hard and want to kill the p2p market in Nigeria. No official announcements yet but I can confirm from other people and it's not showing from their end, this is not a glitch.




They will surely comes for other exchanges.

R


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Barikui1
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May 15, 2024, 07:34:09 AM
 #2

woke up this morning and I decided to check rate as usual to see what's going on, only to my surprise, I couldn't find NGN/USDT and other trading pairs. It seems the Nigerian Security exchange commission are pushing hard and want to kill the p2p market in Nigeria. No official announcements yet but I can confirm from other people and it's not showing from their end, this is not a glitch.




They will surely comes for other exchanges.
My brother, as I see this ur thread, the first thing I go check na my kucoin account and if I fit transact, bro their reply is; your can't perform this trade due to country or region, I just wonder which kind government we get as a country,  other countries problem dy totally different, but our own problem na man made problem,  bad bad leadership up and down.

Though e fit still be network wahala because no announcement has been made, but if truly say kucoin don leave the Nigerian market, then no be good news at all, because wetin I just observe from this present government administration is that them dy only pursue policies wey go hit the common man hard, I no know if anyone dy also see am like that.

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May 15, 2024, 07:40:46 AM
 #3

This is no longer funny anymore as I also woke up to same notification this morning, it is now clear that the government is mean in their decisions to clampdown on cryptocurrency exchange platforms but my question is how long will they continue to fight cryptocurrency even when they know that they can not completely succeed but however even if they clampdown the whole exchanges i trust Nigerians because they can convert their crypto to USDT and other tokens then accumulate it to some huge amount afterwhich they can convert it to other country's currency and still make use of it abi you dey whine Nigerians?


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May 15, 2024, 08:20:06 AM
 #4

[Though e fit still be network wahala because no announcement has been made
The exchange just did not announce it but naira P2P on the exchange has been removed. It has been removed and we know that our government and regulators are the ones responsible for it.

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May 15, 2024, 08:54:43 AM
Last edit: May 16, 2024, 12:00:47 PM by Promocodeudo
 #5

woke up this morning and I decided to check rate as usual to see what's going on, only to my surprise, I couldn't find NGN/USDT and other trading pairs. It seems the Nigerian Security exchange commission are pushing hard and want to kill the p2p market in Nigeria. No official announcements yet but I can confirm from other people and it's not showing from their end, this is not a glitch.




They will surely comes for other exchanges.

This didn't come as a surprise to me, I already know that this is going to happen, after binance removed their naira p2p I already know that the next people the government will be sanctioning is kucoin, it has happened and we should expect more, I don't know what the government stands to gain in this, if there purpose of sanctioning all this exchange companies is to help naira to appreciate in both the parallel and black market, I think such action of theirs is trial in furtility, many exchange company do exist so we should carefully research about the ones we like and chose from their, this is a clear indication that the government doesnt encourage crypto business here.
Naira will only appreciate if the right approach is been practice or used to tackle the matter at hand, as Nigerians we know that the government are not getting it right, an underdeveloped nation do not fight innovation or technology instead they embrace it and figure out ways it can benefit their country, naira does not have value we know that already, so what next, have the government been able to workout modalities in solving this menace without throwing blames for know reason, no matter how they try to frustrate bitcoiners and crypto business in the country, we wont give up, we will keep doing what we know how to do the best without distraction.

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May 15, 2024, 11:46:29 AM
 #6

To be frankly speaking, It's really sad to see our Naira (NGN) p2p trading pairs been removed from reputable exchanges every single day. I really don't know what we did to deserve all this from this present administration. But however, one thing for sure is that no matter how this administration tries to fight and eliminate Bitcoin by all means, they can never force me to prefer fiat over Bitcoin when it comes to long term investment. I'm a die fan of Bitcoin, and I shall remain a die fan of Bitcoin. So the earlier our government understand that the youths of now our days have chosen the part of Bitcoin over fiat, the better for them. And thank God for the anonymousity Bitcoin grants us, because who knows what they would have done to us, had Bitcoin been transparent.

R


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SmartCharpa
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May 15, 2024, 12:07:11 PM
 #7

This is no longer funny anymore as I also woke up to same notification this morning, it is now clear that the government is mean in their decisions to clampdown on cryptocurrency exchange platforms but my question is how long will they continue to fight cryptocurrency even when they know that they can not completely succeed but however even if they clampdown the whole exchanges i trust Nigerians because they can convert their crypto to USDT and other tokens then accumulate it to some huge amount afterwhich they can convert it to other country's currency and still make use of it abi you dey whine Nigerians?




This is not a matter of joking anymore, we need to fear government because if they put their mind say they want to do this, they will surely do it even though they will not succeed at the end of it. The issue of dislist naira p2p in every exchange no dey funny at all, after Binance and OKX now is Kucoin. We don't know the one wey dey will ban later. Truthful, I no reason am say dey will ban this so quick because there's other exchanges that are more popular than kucoin. If they are not tire to fight cryptocurrency, we can also not tired as well. My advise be say make we try have account like 3 to four exchanges, at least as they ban Kucoin now na to use the one wey dey available.

However, you're right, even though all the exchanges suspend p2p trading for Nigeria, we go still look for another way because na naija we dey, everything is possible.

R


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May 15, 2024, 12:08:07 PM
 #8

[Though e fit still be network wahala because no announcement has been made
The exchange just did not announce it but naira P2P on the exchange has been removed. It has been removed and we know that our government and regulators are the ones responsible for it.

I believe kucoin have gotten some signal that they me be a target after what biance experience by taken away their two staff,  fir them to announce it official may not be deem necessary for them the truth remain that we all know where everything is coming from which is not less than the government, what our government is doing is very disheartened because not just to stop all means money is entering the system without building up the nation to generate income due for it's citizens.

When some people do argue about our leaders mostly the so called APC that nothing good will come but destroying the economy I thought they are haters but is clearly becoming reality, it easy to start a fight but ending the fight that's where the problem lies because I don't think one nation can make crypto currency to stop beside our government are good in touching hand in every system or things without doing it well at the end.

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May 15, 2024, 12:38:37 PM
 #9

They will surely comes for other exchanges.

And we are ever ready to see them manifest these, maybe we can see if that will be the reason that can drag the performance of naira against dollar or not, but am very sure they cannot halt on all other exchanges, this is something that the government will have to understand, this thing the government are doing is going to cause another loophole to them that will serve a vulnerability to more fall of naira against dollar.

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Obim34
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May 15, 2024, 02:14:27 PM
Last edit: May 15, 2024, 02:46:40 PM by Obim34
 #10

[Though e fit still be network wahala because no announcement has been made
The exchange just did not announce it but naira P2P on the exchange has been removed. It has been removed and we know that our government and regulators are the ones responsible for it.
In a case like this, what do we do? Do we just sit and watch the government ruin everything, because I have seen no impact upon all their actions everything seems void and empty. Now they have successfully removed NGN P2P from the most reputable exchanges how do we cope or we just have to continue spreading out our privacy to many more exchanges and after a while they aswell becomes a target. How many more exchanges are left? What decentralized P2P is valid to use? A lot is really going on in the country which needs to be addressed but why no one standing out?

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Su-asa
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May 15, 2024, 02:29:00 PM
 #11

This is not the first time Nigerian government is closing p2p from exchange, it all started from binance and today kts kucoin. However, from the beginning of this clash between p2p and Nigerian government fight against dollar and naira we have lost binance already and we moved to kucoin, so today kucoin p2p is no longer available to Nigerians, I believed there are more exchanges that we can use if we want to exchange coins to fiat.

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May 15, 2024, 03:09:29 PM
 #12

In a case like this, what do we do? Do we just sit and watch the government ruin everything, because I have seen no impact upon all their actions everything seems void and empty. Now they have successfully removed NGN P2P from the most reputable exchanges how do we cope or we just have to continue spreading out our privacy to many more exchanges and after a while they aswell becomes a target. How many more exchanges are left? What decentralized P2P is valid to use? A lot is really going on in the country which needs to be addressed but why no one standing out?

Unfortunately, there is nothing we can do that is government for you they have the ultimate power over the affairs of a country so we just fold our hands and watch them do their worst after all this form of frustration isn't new to us anymore, when they banned cryptocurrency did they stopped everyone from participating in crypto projects? Were they not the ones that still lifted the ban in December last year? So let's chill and see how far they will go in making life unbearable for the common man but however, to everything there is an end.

My concern is just that a lot of Nigerians may get scammed and defrauded because moving to other exchanges that are not reputable can lead to loss of funds and assets and there is no one to hold accountable, this is really a bad news for me because ever since they banned binance from performing the Naira p2p transactions i moved to kucoin and now that kucoin have been affected as well were do i move to again? Chaiii there is God o but worst come to the worst we convert our cryptos to USDT and keep them in spot wallets till anytime they change their mind, it's even an advantage regardless of the fact that it will be a hard decision to take but by then you must have accumulated a lot of USDT such that when you sell it you can compete with one wealthy paramount ruler at my place but come to think of it, this is really becoming too much let's call 'a spade' 'a spade' but anyhow e be we go bear am highest sef we learn how to hodl to accumulate more Bitcoins as against the upcoming bull run then we explode, every disappointment is a blessing in disguise.

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May 15, 2024, 03:26:58 PM
 #13

woke up this morning and I decided to check rate as usual to see what's going on, only to my surprise, I couldn't find NGN/USDT and other trading pairs. It seems the Nigerian Security exchange commission are pushing hard and want to kill the p2p market in Nigeria. No official announcements yet but I can confirm from other people and it's not showing from their end, this is not a glitch.




They will surely comes for other exchanges.
I'm surprised they didn't make any announcement, which for me is wrong on their own side. They where suppose to send a mail to their customers in informing them about the new development, at least that's the standard.
The government of Nigeria have been seriously fighting these central exchanges on the low, for them to stop P2P transactions.
Omo e no get how them wan do, we go always improvise other means to use do our transactions. The first to remove Naira P2P on their platform was Binance, now it's Kucoin, they are literally fighting all the reputable xchanges.

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May 15, 2024, 03:49:35 PM
 #14

Nigerians contribute a lot to crypto be it this forum or trading volume or in support functions but this country is rules by psychopaths because not only they create hardship and when they cannot uplift the situation where they have pushed people when people have found a way to improve their standard of living and have extra income they are restricting that as well. What is it they want? Do they want people to starve and die?  First Binance, now Kucoin









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May 15, 2024, 04:11:44 PM
 #15

Accounting to the information I got from the kucoin message it is a temporal suspension but the vanguard newspaper headline of online blog says, kucoin finally bow down for federal government and suspended their p2p. And my question is always like this. Upon all the crackdown of cryptocurrency centralized exchanges in the country, dollar is still going up. As for me they are just doing all these to show that they are doing work to make sure that naira appreciate but from their mind na lie. As far as Tinubu na be di president of Nigeria, dollar go dey dominate.

Because Tinubu himself e no dey use Naira na only dollar. So all these things we dem dey do. Na just for formality and nothing go happen. Even di person wey go come after Tinubu go worse pass am. Until we have someone who really like and love di Nigeria Naira before we go fit enjoy Nigeria again.









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HajiBagi
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May 15, 2024, 04:25:38 PM
 #16

woke up this morning and I decided to check rate as usual to see what's going on, only to my surprise, I couldn't find NGN/USDT and other trading pairs. It seems the Nigerian Security exchange commission are pushing hard and want to kill the p2p market in Nigeria. No official announcements yet but I can confirm from other people and it's not showing from their end, this is not a glitch.




They will surely comes for other exchanges.

This matter na hand of the enemy of progress and the enemy no pass our government, this matter shock me to the extent say I Dey think am again and again, as I hear the matter my first think be say waiting Dey do our government, who goes them wey them no wan make the youth survive, another exchange wey person Dey use them don block am again, this thing is getting out of hand, the first time na Binance and now na KuCoin the next one go be another exchange and gradually them go block all the exchanges and at the end everybody go eyes go open and see maybe na good or bad decision our government Dey make.

I be wan ask, waiting be the main achievement that Nigeria will get from this thing ? Waiting them wan gain? Abi the government are thinking that this is the only way to make the country better, okay na make we Dey see our this thing go end whether what the government are doing is good, but for this thing na greediness and another way of sleeping from the people who are into crypto.

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Kelward
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May 15, 2024, 04:34:46 PM
 #17

A friend send me message dis morning to give me dis sad news, di thing just ruin my day, I just de wonder how our government go take dem hand de comot food from dem citizens mouth, our country matter just de tire me di more everyday. First na Binance, den na okx, now na cucoin, who know di one wey go be next, dem just de disable all di reputable exchanges naira p2p. I hope say people no go jump enter scam crypto platforms because of dis developments, e de really pain me say na our government de do dis things to us, dem go leave where Nigerian problems de, come de destabilize people legitimate sources of income. I know say crypto business don come to stay for Nigeria, we na wise people, we must always find a way to do our businesses and survive.

R


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Marykeller
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May 15, 2024, 04:54:26 PM
 #18

With all these moves by the FG against crypto exchange, I think there is a hidden agenda the FG is pursuing to actualize. Let's not be surprised that at the end of the whole drama, the Federal Government would like to introduce an exchange app that Nigerians will use to transact their USDT to naira.

Our government knows how much is been made from P2P trade. Them, it will be ideal and huge business for them if they succeed in stopping the P2P trade on exchanges and come up with theirs(exchange trade app) so that they can generate revenues in that area.

Listen to the words of our president below. What can you deduct from this?
Quote
“If we reduce the purchasing power of the people, we can further slow down the economy,. Let’s widen the tax net, those who are not paying now, even if it’s inclusive of me, let the net get bigger and we take in more taxes. And that is what we must do in the country.”

R


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Chibit01
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May 15, 2024, 05:01:18 PM
 #19

A friend send me message dis morning to give me dis sad news, di thing just ruin my day, I just de wonder how our government go take dem hand de comot food from dem citizens mouth, our country matter just de tire me di more everyday. First na Binance, den na okx, now na cucoin, who know di one wey go be next, dem just de disable all di reputable exchanges naira p2p. I hope say people no go jump enter scam crypto platforms because of dis developments, e de really pain me say na our government de do dis things to us, dem go leave where Nigerian problems de, come de destabilize people legitimate sources of income. I know say crypto business don come to stay for Nigeria, we na wise people, we must always find a way to do our businesses and survive.
Yeah buddy I see that Due to recent regulatory developments, access to popular cryptocurrency exchanges like Binance, Kraken, and Coinbase may be restricted in Nigeria. I don't know if that was the reason behind kucion restricting naria from their wallet now removing P2P I don't even know.what think of all this restriction is really much and most of us might start thinking other you all Nigerian youth with the way they handle their own issue it is really alarming I don't even where the country is actually driving to P2P has actually been one of the easiest meant to sell of your cryptocurrency but today it is not more... Which way Nigeria???
Crypt0Gore
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May 15, 2024, 05:56:19 PM
 #20

You haven't seen anything yet, even if the government will come up with its own platforms to trade the tax will not be nice, is this even the solution?

These exchanges are not even decentralised exchanges why won't the p2p service get destroyed ? It is obvious nah.

The solution will be a no man's land Dex exchange that deals with only P2P, no team to approach, no email to send letters to, etc, this is the only way we can be saved.

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