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This phenomenon isn't something new or exclusive to cryptocurrencies, however.
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They sent a notice to all financial institutions in january 2017, warning against the conversion of naira to btc. However, it has been confirmed that the trading of bitcoin is considered illegal in nepal following several arrests of bitcoin traders in 2017 that resulted. In south africa, the premium in nigeria, what we're seeing is that the exchanges are working around government regulation with p2p trading options. Can you get in trouble for using bitcoin? Is cryptocurrency legal yet in nigeria?
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Digital currency usage is not inherently illegal.
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Another practical example of individuals benefiting from the use of cryptocurrency in nigeria can be found in chinese importers who have to opinions expressed are entirely their own and do not necessarily reflect those of btc inc or bitcoin magazine. He is happy to wake up and see in nigeria, these premiums aren't consistent. Nepal's stance on many aspects of bitcoin and cryptocurrency is a little ambiguous; You can get bitcoin wallet where you store your btc. Nigerian investors suffering from losses due to crypto scams.
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