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Nigeria’s Naira Loses Ground on Forex Black Market Just a Few Days After Devaluation
28.5.2021
The Nigerian naira currency lost further ground against major currencies after it depreciated to 493 nairas for one dollar on the black market on May 25, 2021. Before the latest depreciation, the currency had stabilized at around 485 nairas to the dollar. This was shortly after the exchange rate...
Grayscale Fund Touts ETF Conversion as Price Discount Issue Solution
16.5.2021
Grayscale, one of the largest cryptocurrency fund managers, has declared it is trying to morph the bitcoin trust GBTC into an exchange-traded fund (ETF) to solve its price woes. The exchange rate is now at a 20% price discount compared to its bitcoin holdings, a fact that has many worried about...
Bitcoin Whale Count Shrinks- Speculators Assume Trickle Distribution or Possible Address Reorganizations
14.5.2021
The price of bitcoin has seen better days, as the coin’s value hit $59,600 four days ago and then saw the exchange rate tumble to a low of $45,700 per unit on May 12. There have been talks of whales selling coins and data shows that there’s been some large wallet inflows. However...
Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency
23.4.2021
Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use...
The Turkish Lira Plunges Following Removal of a Central Bank Governor, BTC Searches up
23.3.2021
The Turkish lira currency plunged by more than 10% on March 22 after the country’s President Recep Tayyip Erdogan unexpectedly fired Naci Agbal, the country’s central bank governor. Having initially touched a new low of 8.280 a dollar, the lira recovered to close at 7.75 a dollar...
BTC to Gold Exchange Rate Surges to New All Time High of 17 Ounces per Bitcoin
2.1.2021
Bitcoin’s record-breaking rally is continuing into the new year with the bitcoin to gold exchange rate touching a new all-time high of 17.38 ounces per bitcoin. According to data from Marketwatch, the new high easily surpasses the all-time high recorded on January 01, 2021, of 10.74 ounces...
Central Bank of Nigeria Governor Decries the Use of Parallel Exchange Rate as Citizens Switch to Crypto
4.12.2020
The governor of the Central Bank of Nigeria (CBN) Godwin Emefiele says the embrace of the parallel market exchange rate by some professionals in that country is unfair and unfortunate. The CBN governor says the parallel foreign exchange market only accounts for a share of the market that does...
Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate
26.11.2020
A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed...
Dollar Decline and the Paralysis of Conventional Monetary Policy
15.11.2020
A reading of Kenneth Rogoff’s latest piece on the strange reality of the dollar’s global status
Paycoin to Integrate with Chainlink to Access Exchange Rate APIs
28.10.2020
Decentralized data oracle network Chainlink announced that South Korea’s leading crypto payments network Paycoin integrates with the platform. As per the official tweet, Paycoin will use Chainlink’s price feeds and exchange rate APIs for crypto payments across retail and e-commerce networks....
The $700 Million Wallet Crack: Bitcoin’s 7th Largest Address Is Under Constant Attack
11.9.2020
During the last two years, hackers have been trying to crack the seventh-largest bitcoin wallet, an address that holds 69,370 BTC or $712 million using today’s exchange rate. According to the CTO of the cybercrime intelligence firm, Hudson Rock, the wallet is being publicized on hacking...
Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further Devaluation
2.9.2020
Pressure on Nigeria’s current exchange rate is likely to get worse in 2021, when the expected recovery of imports is set to force another devaluation of the local currency to N430/$ next year, according to two Bank of America analysts. Earlier rate adjustments, one in March and another...
The Controversial S2F Model Predicts Bitcoin Price Will Reach 100,000 USD Within 2 Years
4.2.2020
The current price of BTC is roughly in line with the popular stock-to-flow (S2F) system for technical analysis, and if the trend continues some speculate the price of the asset could reach $100,000 within the next two years. Though the S2F tool is still a controversial metric, and various groups...
Traditional Law and Finance Can Adapt to Bitcoin, These Examples Show
20.10.2019
Bitcoin brought about solutions to persistent problems that stood in the way of previous attempts to invent digital money, such as the risk of double spending. Some of its features, however, like the characteristic irreversibility of blockchain transactions, have created certain challenges for...
Localbitcoins Removes In-Person Cash Trades Forcing Traders to Look Elsewhere
2.6.2019
On June 1, cryptocurrency enthusiasts were shocked to hear that the peer-to-peer exchange Localbitcoins has ceased offering in-person cash trades. According to a few users, all pending fiat trades have been canceled, leaving local traders who prefer cash high and dry and forced to seek other...
Bitcoin.com’s Local Bitcoin Cash Marketplace Gathers Thousands of Pre-Launch Signups
27.5.2019
On June 4, Bitcoin.com is gearing up to launch our peer-to-peer trading platform Local.Bitcoin.com. After the exchange was announced, the public were invited to create their accounts and place orders. So far the exchange has seen a huge swarm of interest, with over 4,500 signups to date. Also read:...
Bitcoin.com Launches Free Bitcoin Cash Register Platform for iOS Devices
25.5.2019
About a month ago, Bitcoin.com launched its free point-of-sale solution, Bitcoin Cash Register, for Android operating systems. This week our developers have released Bitcoin Cash Register for iOS mobile phones allowing any merchant with an Apple device to accept bitcoin cash payments. Also read:...
Local.Bitcoin.com Aims to Spread Economic Freedom Through P2P Exchange of BCH
16.5.2019
On June 4, Bitcoin.com is launching a peer-to-peer marketplace called Local.Bitcoin.com that will allow users from around the world to buy and sell bitcoin cash (BCH). Now crypto enthusiasts and traders can create a pre-launch account to explore the trading platform and create orders on...