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

NairaEx Monthly NewsLetter – August 2019 RoundUp


Welcome to the NairaEx/ monthly newsletter. Here we refresh all crypto activities from the past month and projections for the new month. Stay tuned

The month of August played sideways for the cryptocurrency community. While there major events and announcements, the market and price movement did not grow significantly as Bitcoin (BTC) closed the month below the $10,000 support; just as altcoins also dipped.

However, with the third quarter of the year in motion, and major events such as Bakkt set for September 2019, anticipation is brewing with regards to a potential price surge as institutional investors prepare to join in the cryptocurrency market.

That said, here is a recap of major stories from August. Did you miss any? We’ve got you covered.

Facebook Launches Bug Contest for Libra Coin Project

The Libra Association (founding members of Facebook’s Libra cryptocurrency) have launched a bug bounty program for the Libra project.

The association invites the public and developers to discover bugs or security issues on the Libra blockchain and earn up to $10,000 in rewards. Facebook’s believes this contest will put to test all security concerns about the Libra and test any vulnerabilities on the coin’s blockchain.

See details here:

MUST-READ: Three Important Events for Bitcoin until Mid-2020

Nigerian US-Based NFL Player Leads ‘Pay Me in Bitcoin’ Campaign, Hosts Bitcoin Event September 1

Nigerian native and American football player – Russell Okung has made crypto headlines again. The LA Chargers player and Vice President of the US NFL Players Association, has followed up on his “Pay me in Bitcoin” campaign where he voiced his opinion and those of keen NFL players on wanting their wages paid the number one cryptocurrency.

Okung has now launched a “Bitcoin for Rookies” event to educate crypto beginners on the potential and benefits of this asset. The event holds September 1 in Los Angeles.

Will Okung receive his $13.25 million per year salary in Bitcoin? Check here

New Zealand Legalises Receiving Salaries in Bitcoin

New Zealand’s Tax Office this August ruled that receiving salaries in cryptocurrency is legal and goes on to give guidelines for its taxation.

The new tax bulletin addresses crypto salaries under the PAYE (Pay As You Earn) scheme; as the country joins an elite list of nations adopting more crypto payments.

Two US NBA Teams Begin Accepting Bitcoin (BTC) Payments

In August, US Basketball teams Sacramento Kings and the Dallas Mavericks announced a partnership with crypto platforms; with Dallas Mavericks announcing they will begin accepting Bitcoin and cryptocurrency payments for match tickets and club merchandise.

The news received wholesome welcome across the cryptocurrency community as many expressed enthusiasm over the continued fusion of cryptocurrency and sports.

Ever imagined “Cristiano Ronaldo offered 500 BTC to stay at XYZ FC”…It’s coming soon.

Full read here:            

See other sporting stories: Everton signs a new partnership with crypto firm; as Leicester City renews.

Bank of England Governor: Cryptocurrencies Could Replace USD as World’s Reserve Currency

BoE Governor – Mark Carney had at a recent meeting of central bankers globally, expressed his opinion on the adoption of a digital currency supported by a coalition of central banks; in a bid to replace the US dollar dominance of the global market.

Mark argues that while the USD has served its use in times past, the recent cases of trade tensions, sanctions and hoarding of US dollar by global government’s are having negative effects on the various national economies.

The BoE head proposes a blockchain-based cryptocurrency similar to the Facebook Libra as a solution to the “domineering influence of the US dollar on global trade.”

See full story here:

Have you seen China’s Bi-monthly Crypto Rankings? See What Coin is Number One

MoneyGram Adopts Ripple (XRP) Payment Platform

Global money transfer company – MoneyGram has begun official use of the Ripple cryptocurrency payment platform – xRapid for its international payments.

The partnership sees MoneyGram adopt a cryptocurrency alternative to execute trades and daily transactions. The company says this will help streamline its global liquidity management.

Full details here:

Binance Unveils ‘Venus’: A Competitor to Facebook’s Libra Cryptocurrency

World’s largest day trading exchange – Binance is launching an open blockchain project dubbed “Venus”.

The Venus Project which many terms ‘Facebook’s Libra competitor’ is focused on the development of stable coins pegged to different traditional fiat currencies. Binance says it will partner governments globally to issue these fiat-backed digital assets.

Read about Venus here:

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International News

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For daily, trending crypto stories and analysis: visit BUY/SELL Bitcoin on Nigeria’s premier Bitcoin exchange:, instant orders, ease of use, secure platform.

About the author

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