5 Minutes Freewrite - The second to last resort.

This is my entry to the 5 Minutes Freewrite prompt for the day, released @daily.prompt.

sunday-abegunde-C8N-j4ZmZBU-unsplash (1).jpg

I'm writing this off the back of the recent ban that was placed on the exchange of Crypto for Naira, the local currency of Nigerians. This is already effective in Binance. The P2P trading option for Naira is no longer on their exchange. I heard that the same is applicable in some other exchanges.

What does this mean for Nigerians? Are we going to be stuck with our Crypto with no means of trading it for Fiat?

These have been the most recurring questions I've had to face due to this and one of the ways to go about this is to directly sell your Crypto to someone interested in buying them with Fiat. I wouldn't advise that though especially when it's not someone you trust. Maybe, go for that as a last resort when all hell gets loose.

For now, the second to last resort for those who are already accustomed to the P2P option in Binance and other affected Exchanges would be to switch to another Crypto exchange that still has Naira listed in their P2P section. Bybit works just fine. I started using that a few days ago.

Thanks For Not Missing Any Full-stop or Comma.
Thumbnail Image is taken from Unsplash



0
0
0.000
2 comments
avatar

Bybit works just fine. If their plan is to throttle Crypto, then they have failed woefully.

0
0
0.000
avatar

True. Bybit is the one I've been using since a week ago. It's fit for purpose and gives a fairly decent alternative to what Binance offers.

0
0
0.000