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Author Topic: Kucoin suspended P2P in Nigeria  (Read 353 times)
Fiasem20
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May 17, 2024, 04:01:33 PM
 #41

Nigerian government na true definition of hypocrites.Could you imagine na these popular p2p exchanges na dem dey use trade their foreign exchange.Person of President Tinubu that man dey deal on dollar so if dem remove NGN for all p2p exchanges dem go regret am because how dem wan take trade their foreign exchanges.We thank God say no be Kucoin be the only p2p exchange,when them ban NGN for binance p2p we go for Kucoin now wey dem don suspend Kucoin there are other safe exchanges where we fit trade our coin,there's always gonna be an alternative.
Cityhunter34
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May 17, 2024, 10:59:52 PM
Last edit: May 21, 2024, 05:19:30 PM by Cityhunter34
 #42

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.
Already when I hard that Nigeria government have stop Binance operation in Nigeria I knew that the next one is going to be kucoin because they didn't want to see the progress of the youths in this country, they just want the youth to surfer but God go shame them because new mater how they do even if them like make them stop the whole exchange for Nigeria but will know go give up on Bitcoin, will must look for solution because Bitcoin na really good blessing for our youths.

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CryptopreneurBrainboss
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May 19, 2024, 10:57:43 AM
 #43

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?

Provided say na centralized exchange wey we dey use, we no get choice as the governments go dey attack dem as dem get to know about them. Governments dem get spy among us wey dey update them on the next exchange wey people dey use dey sell their Bitcoin or usdt to Naira. Scammers go chop Nigerians plenty this periods because alot of newbie wey no understand how some platform dey work go fall victim to scams. E go just better to use local P2P merchants if you get a trusted one than to dey move from one centralized exchange to another because this exchanges fit crash too and them go close with our money

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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

Spot wallets are exchange wallets and that is a wrong approach to hodling crypto. Converting our crypto to usdt no also makes sense unless you wan invest for dollars based on how you dey see Naira dey misbehave but still when you dey invest in crypto wey dey in USD, you dun still invest in dollars because when you want convert your money to Naira na the current Naira /dollars market price na wetin you go use. It's better you hold your Bitcoin for non constodial wallets and keep hodling then you fit sell anytime wey you wan sell with the exchanges wey go still dey allow Naira trading or use local merchants.

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Agbamoni
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May 19, 2024, 11:34:33 PM
 #44

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.

I'm beginning to suspect that Nigerian government has issued order to these major exchanges to quit the trading of NGN/USD in their various platforms and they complied with a deadline. Seeing major exchanges removing NGN on their platforms one after the other is very abnormal and I'm now convinced that something fishy is going on behind the scene.

Will they write the same warning to all available exchanges, will they have the economy clampdown fixed through all these, am just afraid if this is not going to set another means of getting the whole challenges been escalated, something from my mind is saying that this year, naira will record #2,000 per $1 if they are not careful, most of the politicians are having foreign investments, trading have always been, no government plan towards increasing the GDP of the country, instead they are busy chasing after trading platforms.
Obviously, Nigeria would remain the same because it is not the crypto platforms that have affected the economy. Even if the Naira became balance i the foreign exchange there will be inflation in the country and the reason is because the problem is not in the government only it has infected the entire society. Everybody feeds from the weakness of the other. No real friendships and love if they are not benefitting from each other. One must have something to offer before they can be seen as an individual ion the country.

I pray for my country each day but i pray for every individual in it more. If eventually the country has been restored from the crisis and problems, we do not have individuals with the right mindset to manage that change which means it will still fall to the ground again.

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May 20, 2024, 08:03:34 AM
Merited by CryptopreneurBrainboss (1)
 #45

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?

Provided say na centralized exchange wey we dey use, we no get choice as the governments go dey attack dem as dem get to know about them. Governments dem get spy among us wey dey update them on the next exchange wey people dey use dey sell their Bitcoin or usdt to Naira. Scammers go chop Nigerians plenty this periods because alot of newbie wey no understand how some platform dey work go fall victim to scams. E go just better to use local P2P merchants if you get a trusted one than to dey move from one centralized exchange to another because this exchanges fit crash too and them go close with our money

Na how to get trusted local P2P merchant for naija but how person wan take confirm their authenticity, we know of plenty P2P platforms wey been don really make waves for naija as one of the best platforms but today, them no dey again.

Like you talk, even some people wey get these platforms go fit see this as opportunity to take scam some naive people them, since them now know say them no get option and when them see some kyn money wey go enter their system, them go just shut am down or release important information to person wey go enable am to hack the system make e no be say the fault from them so that nobody go accuse them. Na these kyn things we dey see everyday and because of that, even when we see legit ones, we go dey fear to work with them.

The best thing na just fyn better DEX wey dey reputable and dey support P2P, at least person go know say government no fit get access to them or influence them easily like that.
Or better still, find trusted person wey dey outside Naija, even if na the least African country, wey go dey help you dey trade ya coins dey send the money for you via bank transfers. At least that one go dey even better and safer than to dey use these CEXs or P2P platforms. Until this whole government palaba subside, cos I know say very soon, this whole gra gra go end.

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May 20, 2024, 06:08:29 PM
Merited by hugeblack (1), Adbitco (1), Davidvictorson (1)
 #46

Omo me no go lie oo, I actually taught this whole matter will die off but looking at the way things are going, It seems Nigerian government really wan blame cryptocurrency for the fall of their naira whereas dem know within dem selves say na dem be the whole cause of everything. If dem wan really make the naira strong then make dem first of all ban the use of dollars itself from the country so that even the government officials dem self go get no option but to see the idiotic move they are taking towards making naira strong.
me self think say the matter go die untill i see kucoin own and okx the matter just they shocking to me. i they reason say them wan comot all the p2p for all exchanges and them done they do am one after the other. them just they look for ways to regulate crypto and the thing no go work make them no even they reason that kind thing. them they feel say na crypto the increase dollar against naira but very soon there solution go create more problems. and if them ban the use of dollar the matter go worst even for our economy because if you look the whole thing how foreign reserve na dollar they inside. so  there is no way they can stop the usage of dollar and as them they try stop this things them just wan increase crime. you did not create opportunity but you they cause wahala with crypto the end result no go good sha.

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