With the growing popularity in cryptocurrency trading and investment in Nigeria despite its ban by Nigeria’s apex bank Central Bank of Nigeria , DANIEL UDECHUKWU examines why it is gaining more traction than the traditional forms of investments.
Aside being a major or supportive source of income, what other benefits can be behind its growing popularity and investment? Tobechukwu Ejiofor, a 27-year-old investor and trader describes its benefits as endless. “The benefits of venturing into cryptocurrency are endless,” he stated. “It can be an additional source of income, it can be a retirement plan for long time investors, user autonomy because it is decentralised.
Since its announcement, many Nigerians have reported that their bank accounts have been frozen due to cryptocurrency-related activity. Others are receiving warning from either their account officer or bank manager to desist from all crytocurrenccy related transactions or have their account closed.
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Source: GuardianNigeria - 🏆 1. / 94 Read more »