RE: Crypto in Thailand - Tell me about Crypto in your home country and win 10 Leo!
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This is quite interesting, am from Nigeria and am glad to say the little I know about crypto in my country.
When crypto came to abduction in Nigeria, most people started joining crypto but then Nigerian government ban crypto because they said crypto currency was devauling the Naira which is the currency been used here.
So it was banned meaning users can own crypto but cannot use Naira to buy crypto but can have crypto in our wallet but cannot transact or convert crypto to naira or naira to crypto.
During this time, Nigerians have always been among the top three users making use of crypto currency in the world to exchange money to send or transact to each other.
https://www.statista.com/statistics/1196092/bitcoin-market-size-nigeria/
Nigerian government thought that the ban would be able to stop Nigerians from using crypto currency in Nigeria but rather it was even a success for people to use and also invest in it and we have more people joining the crypto currency daily.
Now since the ban was placed, Nigerians now use what we call 'ptp' which means pair to pair in binance which is used for exchange of crypto which is useful and helpful for Nigerians to convert their crypto to their local currency which is the Naira.
Though the 'ptp' is not only used on binance we have other crypto account like remitano and the likes Where ptp can be used but it's mainly used on binance which is well known by most people.
Thanks for this. It's exactly what I wanted to read. So you move it to Binance, then to Remitano and then cash out? How exactly do you get from the ptp to the hard cash in your hand? Through a bank or do you rely on illegal crypto brokers?
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Remitano is another alternative if you don't want to use binance. To cashout your money in hand we move the coin to binance then use the 'ptp' in the binance platform to cash it out because there will be someone willing to give you cash then you sell your coin to the person.