CBN’s Ban On Cryptocurrency Is a Joke Taken Too Far, Youths Can Close Down Their Bank Accounts (1) -By Micheal A. Adeniyi

BTC has never been a legal tender in Nigeria, so it is impossible to announce its ban. This fact on its own questions the mental capacity of the governor of CBN. Secondly, BTC is not a currency where it is not legalized to be so, it is a commodity and that is how it appears in the stock market, it can be exchanged as barter system, so investors can technically still hold on to their Bitcoin and other digital currency and can also trade in cash or through a third party payment gateway app named “My Sugar Rush.” The apps is a virtual bank account. Members will be able to get money paid into the Sugar Rush with the term “Dividend” and Bank Deposit will be paid for each transaction as “Dividend for Sugar Rush Plantation” To know more about this apps which is on its beta test. Just send an email to tapreadwebmaster@gmail.com

Although government can put an end to any form of tender. It lacks the power to put a hold on deposit made to bank accounts of BTC traders until after Today and it lacks the absolute power to stop any other legal deposits. But the power still belong to the youths. You can ditch the banks!

Millennial can ditch Banks when buying and selling Crypto. Government can never pay into it.

From zero interest rate on deposits to security of funds and the fact that government might take over your funds with stupid policy. It is almost wise enough to ditch Nigerian Banks and use payment gateways registered abroad while joining the crypto market which has already skyrocketed with over 100%  increase in 7 months.

CBN major interest.

CBN wants to reduce crime. But it’s banks have always broken the deposit limit law for political looters, to go scot free. EFCC cannot access BTC accounts of the youths they harass on daily basis. Bitcoin blockage was introduced to rekindle the sales of $£€ Bureau de change biz and also stop easy donations to human rights campaign. If you ask me I will say the government is anti-youth and nothing else.

Decentralized Currency!

Cryptocurrency are not currency wherever it has not been legalized. It is a mere commodity. And you can exchange it by barter. It is decentralized and out of government control. I will also explain how owners of any account blocked can sue FG and CBN for damages and unlawfully seizure of money.

To be continued……