Nigeria is my country. I just don't know why I found myself in this country. 😂. I am grateful to be a citizen of Nigeria. It is said that there is no place like home and that’s nothing but the reality. No matter how far we travel, we still can't find it as accommodating as our homeland. So no matter what happens to Nigeria I will always be a proud citizen. But why?
Nigerians are so strong, rugged, wise, intelligent, and talented. What else?? We still claim to be that giant of Africa.
I remember a time around the year 2019, there was some kind of airdrop that came up for users who have used GitHub before. In as much as you registered before the time, you are automatically white-listed to be eligible.
I was qualified due to my experience in the Steemit utopia community back then. The token drop was not that big but at least the first drop I got was worth around 33,000 naira then. Free money they call it? Oh. I was happy, but what made me happier was that the drop was said to keep coming for 24 months. The joy from that kept me happy.
Not until the following month did the community have to take sympathy and then open the floor for new users to register. My friend, if I could advise them I would have said they shouldn’t. Immediately they did, the flood on their website and app got beyond control. So many Nigerians flooded in and not only that, they started creating multiple accounts. The value of the token dropped drastically, and they had to ban some accounts of suspicion.
I was in so much pain then. But I knew we were all going to pay for it. After the second drop, they announced that Nigeria and some other countries were excluded from the community.
Fast forward to Crypto in Nigeria.
I can say boldly that Nigeria is among the top countries when it comes to cryptocurrency, be it trading, or any other aspect of crypto. But it's so sad that the country must have been experiencing hardship trying to embrace the so-called cryptocurrency.
Though crypto is not widely accepted all over the world some countries went against it and some embraced it. Some laid out regulations guiding the use of crypto in their countries. But we never had much of that put in place.
We were enjoying everything about crypto without many restrictions, not until sometime in the last bull run around the year 2021 when the government decided to take it up against cryptocurrency. It was tagged with a lot of meaning that it served as a medium of fraudulent activities just because of the anonymous nature of its transaction.
They decided to lay a ban on cryptocurrency. The move they made was to ban naira withdrawal from all exchanges. And if you are caught a victim there would be a penalty over your bank account. This makes the citizens of the country tremble in fear of losing crypto. But there was always a way out. We resorted to the peer 2 peer method and that became the way for youths that are into cryptocurrency.
Recently, the hike in the price of naira against the dollar in the exchange market was tagged on cryptocurrency again. The government never saw the good side of cryptocurrency but always saw it as negative towards its economy. This time around they have found out about the peer 2 peer method and decided to scrap it out. Which they did.
My conclusion
I strongly believe that there is a future for cryptocurrency. And the revolution of cryptocurrency can't be hindered. It might not be now, just the way Web 2 wasn't welcomed, but at the end of it all, almost everyone in the world is engaged with Web 2 platforms.
If the government decides to keep banning crypto in Nigeria, then I think they are just making or becoming widespread to those who are yet to know what it's all about. And with time when the time comes they won't have an option than to accept it.
This is my response to the hive learners community weekly featured content on Hive for the week 104 edition 2 and the topic to be discussed is CRYPTO NEWS
