NairaEx Blog

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

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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...

Things Every Cryptocurrency Beginner in Nigeria Should Know


Owning cryptocurrencies is one of the best decisions anyone can make. As a Nigerian, this statement holds more weight as technology offers boundless opportunities for economic freedom. Cryptocurrency has made it easier to carry out transactions and other activities. It radically changes how one can live their lives. It is important that one is aware of the different factors that can enhance their...

The Best Cryptocurrency Applications


The rate of innovation in the cryptocurrency space gives both newcomers and veterans in the sector more opportunities to benefit from superior customer experiences. Unlike when cryptocurrencies were first introduced, the competition is stiffer among cryptocurrency firms. Crypto Tracker Crypto Tracker may seem simple at a glance but it is incredibly powerful. It gives you access to the prices of...

10 Reasons to Buy or Hold Bitcoin in Nigeria


1. Nigeria Will Face a Recession in the Future Most developing economies like Nigeria expect their economies to go into a downturn in the coming months. The nation is still gasping for breath after being beaten severely by a 2016 economic recession. The nation’s pace of recovery has been slow, despite achieving a milestone: 2.55% gross domestic product (GDP). History has shown that bitcoin can be...

COVID-19 — A note to our community


You’ve probably received numerous emails about the impact of COVID-19 over the past couple of weeks. As Nigeria imposes lockdown in cities to curb the coronavirus, we feel it is important to update you on what is happening at NairaEx as we know this unexpected event raises many questions. As always, we are open for business. NairaEx is a digital-based Bitcoin company, hence we are always ready to...

Bitcoin, the Economy, and the Coronavirus


Price Retracements as Markets Face the Coronavirus Woes Price retracements have been witnessed in numerous sectors, including the cryptocurrency markets. Sliding bitcoin prices pose questions as to whether the cryptocurrency is really a safe-haven commodity. As a consequence of many factors, like the coronavirus, the economies have encountered major obstacles to the sustainability of their...

The Incoming Bitcoin Halving


The Bitcoin halving is approaching. Bitcoin halvings are scheduled to take place once every 210,000 blocks (every four years)- until the maximum supply of 21 million bitcoins has been made by the network. Bitcoin halvings will continue to take place until all Bitcoin is supplied. The Halving Effect Source: Fintechna When the halving occurs, the mining rewards for BTC, BCH, and BSV will be reduced...

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