NairaEx Blog

Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.

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NairaEx Monthly Roundup- September Review


As the month of September comes to a close, Nigeria’s Security and Exchange Commission(SEC) recognizes cryptocurrencies as securities while the Bitcoin network passes 18,500,000 incirculation and a Canadian software firm put 40% of its cash reserves into Bitcoin. Nigeria Securities and Exchange Commission Regulates Cryptocurrency Nigeria’s Securities and Exchange Commission (SEC) in a landmark...

NairaEx put smiles on the faces of more Nigerians after announcing a 1,000 giveaway


NairaEx put smiles on the faces of more Nigerians after announcing a 1,000 giveaway on Tuesday 11 August. The cryptocurrency exchange encouraged readers to check the jackpot tab for more details on the giveaway. NairaEx Announces Giveaway Times have certainly not been easy for many Nigerians. Thankfully, on Tuesday 11 August, Nigeria’s leading cryptocurrency exchange, NairaEx helped brighten the...

The Differences Between Perfect Money and Bitcoin


Perfect money has often been confused for Bitcoin due to the similar purposes that they appear to serve for people who are not conversant with the origins of Bitcoin and how much better user experience is with the apex cryptocurrency than with Perfect Money. Perfect Money and Bitcoin Perfect money is a financial service that offers instant payments through the internet for users of the internet...

Scams Using Bitcoin As Payment Method On the Rise In Nigeria


“You know what my problem with man is? For everything that has the potential to become beautiful, man can turn it into something ugly.” – RR The above quote echoes the current sentiment around the cryptocurrency industry, as more schemes using Bitcoin as payment methods continue to rise. While this is alarming, what is more, worrisome is the gullibility of the victims of these...

Here’s everything you need to know about Bitcoin Halving


Bitcoin will undergo supply cut today May 11, 2020, during the time governments around the world are printing more money and increasing debts in order to combat the economic effect of the COVID-19 pandemic. Nigeria’s total debt profile now stands at N33trillion and is expected to reach an unprecedented level. What’s Bitcoin halving? It means that the amount of new bitcoin being generated and...

Nigerians are Buying More Bitcoin


In the month of May 2020 Nigerians contributed to $35 million in Bitcoin transactions, further emphasizing the role of Africa’s most populous nation as the leading economy on the continent for Bitcoin. $35 Million in Bitcoin Transactions and Counting Nigeria dominated Africa’s cryptocurrency markets with the highest volumes of Bitcoin transactions by Nigerians over thirty days. The volume of...

Public Warning on Ethereum Million Money Scam


Million Money is a new fraudulent scheme, operating under the pretense of a legitimate Ethereum blockchain project. The scheme has gained more popularity since it sprung up in 2019. False Representations of Million Money Million Money is an attempt to mimic traditional blockchain applications on Ethereum. It purports to use a smart contract that automates secure and automatic payments. The...

Major Chinese Miners Expecting Increasing Investment in Bitcoin

Hash rate

Major Chinese cryptocurrency miners are betting on increasing Bitcoin investments in the next six months which will help keep them in business after the May 12 halving. The sentiment was found in a survey conducted by crypto services firm RockX on May 4, 2020. According to this survey, approximately 57% of the total Chinese cryptocurrency miners believed that a large influx of new investors was...

Bitcoin Buying and Selling Strategies


There is much to be gained from taking a deep dive into Bitcoin. The learning experience is rewarding in more ways than one. Not only can you gain monetary benefits but also, you gain a deeper understanding of the world of finance. Key buying and selling strategies open up windows of opportunity for traders of Bitcoin.  Dollar Cost Averaging Dollar-cost averaging is a method by which one...

Bitcoin’s Price Behaviour during Previous Halvings in 2012 and 2016


In cryptocurrency circles there is considerable discussion going on around the May 2020 Block reward halving. Previously, two halvings were undertaken back in 2012 and 2016. Let us discuss briefly what is this halving and how previous halvings impacted the cryptocurrency’s price.  What is Block Reward Halving? Every 10-12 minutes, 12.5 new BTC are created by the Bitcoin network and...

NairaEx Blog Providing latest news and announcements related to the NairaEx website as well as the general cryptocurrency in Nigeria.