Despite Challenges, Nigerian Bitcoin Miners Are Poised To Profit
Nigeria is leading Africa in Bitcoin adoption, and miners there are overcoming regulatory and power grid challenges to find economic freedom.This is an opinion editorial by Emeka Ugbah, host of the “Bitcoin This Blockchain That” podcast based in Rwanda.Imagine that you are nursing a cup of caffé mocha in a coffee shop in Lower Manhattan. Then you overhear this African-looking fellow — who, from his countenance, confident demeanor and high-energy voice, strikes you as a Nigerian — saying that he is a Bitcoin miner. You would probably try to get a better glimpse of the fellow, because you....
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The Nigerian blockchain and crypto advocacy group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) recently announced the introduction of a code of conduct for Nigerian virtual assets service providers. The code of conduct, which was initiated by the office of the President of Nigeria, applies to all Nigerian VASPs.
Making the Nigerian Blockchain Industry a Safe Space
The Nigerian blockchain group, the Stakeholders in Blockchain Technology Association in Nigeria (SIBAN) has introduced what it called a code of conduct for virtual asset service providers....
A Nigerian court has rescheduled the hearing of a tax evasion lawsuit against Binance and some of its executives to May 17. This adjournment represents the latest development in the ongoing regulatory saga between various agencies of the Nigerian government and the Malta-based cryptocurrency exchange. Related Reading: Impending Extradition? Nigerian Authorities Trace Fleeing Binance Exec […]
According to an analysis of the $417.5 million that was raised by Nigerian tech startups during the first nine months of 2021, fintech firms accounted for about $379 million or 90.78% of the total. Nigerian Fintechs Dominate the African Continent Nigerian fintechs currently account for more than 90% of the $417.5 million that was raised by tech startups during the first nine months of 2021, a local report has said. While the report, which was compiled by local media outlet Punch, notes that the $417.5 million is already significantly higher than the $300 million that was raised in the....
NFL star and Nigerian descendant Russell Okung asks the Nigerian government to adopt a Bitcoin standard or risk falling behind.
Nigerian artists are now increasing their net worth by leveraging the art world’s lucrative pivot to non-fungible tokens (NFT). According to reports, this move to NFTs is happening despite the Nigerian central bank’s renewed anti-crypto stance. NFT Bubble Concerns As a recent CNN report explains, growing interest in NFTs from Nigerian artists comes alongside warnings of a potential downturn in sales. For instance, Bitcoin.com News has already reported that NFTs sales plummeted by 90% since the market’s record sales on May 3. The same report also revealed that the number....