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- November review

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november news roundup

The month of November saw Bitcoin reach unexpected highs as it tested $20,000 levels with an average price of $18,000. At just under $20,000 the cryptocurrency hit its highest level in almost three years, since 2018. More institutional investors entered the markets, driving up activity. Near the end of the month, the price of the cryptocurrency slipped as investors tried to cash out on gains made...

NAIRAEX MONTHLY ROUNDUP- OCTOBER REVIEW

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The month of October was filled with a myriad of activities for cryptocurrency users in Nigeria and outside of the nation. Nigeria’s celebration of independence was cut short by tensions that arose as the #EndSARS protests and government opposition to the protests shed more light on the utility of Bitcoin in a nation where human rights continue to be threatened on a daily basis. Outside of the...

NairaEx Monthly Roundup- September Review

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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

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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

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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

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“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

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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

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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

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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

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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...

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