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If Nigerian Authorities Come For Binance...

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@mistakili
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If you ask me, I’m glad that Binance is the safest haven for Nigerians in crypto, but I also feel very uncomfortable. Most Nigerians in crypto turn to Binance to convert fiat to crypto through p2p, it’s proven to be the best and most efficient method for me, compared to Paxful which a lot of people also use but is plagued with complaints like fraud and random account freezing.

Yesterday the Central bank of Nigeria made another funny move, the governor of the CBN publicly insinuated that a website that aggregates and displays foreign exchange rates was responsible for the decline in value of the naira, it’s like blaming supersport for showing that Arsenal lost to Man U 2:1 instead of blaming the team including the coach. While many of you may be surprised at the display of such level of ludicrousness,....

.....for a lot of us this is just another ridiculousness that usually comes out of my country. It is preposterous that the governor of the CBN will publicly state something like this despite the obvious mismanagement of the entire economy plaguing the country.

First they claimed it was crypto, they banned financial institutions from facilitating crypto transaction, then they blamed fintech applications and banned some.

Now it’s FX aggregate website, what will be next? They’ve shown that the level of their ridiculousness knows no bounds with zero concerns for the people, how long till they come for entities facilitating exchange of crypto like Binance? I mean, if Binance can be banned in the U.S, there’s no assurance that it won’t happen here especially with the way these people are moving.

This is why I cannot scream for the need for a decentralized P2P platform enough, such that can’t be fucked with by any entity, but I know it won’t be easy, nothing good comes easy isn’t it.

But in the mean time, the best solution is to use VPN if Binance is ever banned from being accessed in Nigeria, change ones location to anywhere apart from the U.S and Nigeria and business will go on as usual, majority just need to be aware of this.

Interesting how VPN has turned out to be such a useful tool for most of us in Nigeria, who could have thought? Who could have thought we would have to hone these tech tools so dearly like our lives depends on it? If the Nigerian authorities choose to be ridiculous, I won’t be a part of it.

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