The Revolutionary Step by TigerEx That Can Raise The Bar of The Cryptocurrency Market in Nigeria (2024)

The TigerEx company based on the Nigerian Naira has made a revolutionary break on the cryptocurrency market. With such fewer opportunities in Nigeria, this country’s cryptocurrency market was lagging behind until this revolutionary step. It has provided a vast opportunity to the citizens of Nigeria to invest rightfully and make transactions just like the other countries.

The Revolutionary Step by TigerEx That Can Raise The Bar of The Cryptocurrency Market in Nigeria (1)

TigerEx has released the best pay products for instant transfers done via domestic as well as international. The citizens of Nigeria can invest and exchange bitcoins seamlessly after this massive feat. This tremendous step can significantly encourage investors to invest without considering the payment issues that were previously a major setback. To know more about this take part in the yuanpay group private sale.

According to Nicholas Levenstein, the founder of TigerEx, Nigerians can have a centralized, safe place for handling their transactions with complete disclosure. They will have thorough knowledge regarding the entire transaction. The counterparty will be dealing with Naira or Bitcoin to complete the whole process and wrap up the whole deal immediately.

Nigerians can deal directly with the complete cooperation of their opinion regarding the price discovery, which will eventually lead to cheaper transactional rates along with fair pricing. He also states that if this entire process has consistency and invite other traders to invest in a continuous manner in the difference of naira dollar, naira pounds, and naira euro rates, which are the common currencies of Nigeria, this will be a boon for the entire country since this will help in the better transactional facility.

With this impeccable facility, the Nigerians can finally use their cryptocurrencies in the renowned markets like Euro Zone, USA, Japan, and many more without any hassle.

Furthermore, TigerEx also claims to pay the “Maker” fee. This particular fee will be negative for the people who would buy or sell based on other’s bids and referrals. These people will be paying the market makers more, and TigerEx will be having only half of it or even less than since most of the referral fees will be spent on them.

Even though this is quite a generous amount, yet TigerEx has made this decision on keeping the future of the Nigerian cryptocurrency industry in mind and with the sole purpose of driving it further with the full pace at the moment. This great initiative will have a massive impact on the entire bitcoin industry in the best way possible since this major leap can transform the entire market significantly to build the market simultaneously.

TigerEx has been making extreme efforts in bringing the entire business and cryptocurrency industry forward in Nigeria. According to the resources, An income hedge fund had performed approximately 38% with 50% annually between the months of September 1st, 2019 to March 31st, 2020, which is quite a great deal.

The Revolutionary Step by TigerEx That Can Raise The Bar of The Cryptocurrency Market in Nigeria (2)

The innovative transfer service named ZapCash can help withdraw in the form of dollars, euro, naira, or bitcoin according to the convenience of the user. This way, they can use their local currency Naira seamlessly in every transaction out there without any hassle.

To bring more attention to this entire process, an escrow service wherein customers can get amazon gift cards or any prepaid cards to boost the usage and promote safe and immediate transaction within the investors. This extra advantage will help raise awareness and attract more people to gradually start bidding and investing in this market, claiming it to be completely safe, secure, and rapid. This initiative was taken keeping the competition with MyParicia and Paxful in mind.

TigerEx will also have a specific referral system along with customer service with live video transactions for complete transparency. Furthermore, they will also provide instant resolutions to every query regarding any difficulty within the trades. Therefore, the Nigerians need not worry regarding any apprehensive situation during the entire process since the maximum they need to do in such scenarios just makes a single call. They will get their queries resolved by the experts of the company itself.

With so many innovative features and advancements, TigerEx is sincerely making a big revolution in the entire market. People can now finally invest without worrying about the transactional methods with foreign stocks or products and even use the Naira currency for the same. There has been no ignorance towards other currencies as well here, keeping in mind the investors who would prefer bidding or withdrawing in euros or dollars. The entire step is relatively neutral in nature, and if the right leverage is taken here of this amazing facility, the market can drastically strike up in comparison to the previous years.

The Revolutionary Step by TigerEx That Can Raise The Bar of The Cryptocurrency Market in Nigeria (2024)

FAQs

How does cryptocurrency affect the Nigerian economy? ›

Financial inclusion and empowerment.

Cryptocurrencies have enabled millions of Nigerians to access and benefit from the global digital economy, without the barriers and limitations of the traditional financial system.

What makes cryptocurrency revolutionary? ›

Decentralization: Cryptocurrencies operate independently of a central authority, such as a government or a bank. Transparency: Transactions on the blockchain are visible to all participants, enhancing trust and accountability.

How to make money from crypto currency in Nigeria? ›

The basic idea is to purchase crypto coins at a lower price and then hold onto them until the price increases, at which point you can sell them for a profit. In the world of cryptocurrencies, staking crypto is a profitable means to make money online in Nigeria and one of the best strategies for crypto beginners.

Why was cryptocurrency banned in Nigeria? ›

The official reason given for the move against IPs is, according to the local Premium Times, the “continuous manipulation of the forex market”, and the decision was taken “following reports that currency speculators and money launderers were using [crypto platforms] to execute criminal activities”.

What is the importance of cryptocurrency to revenue generation in Nigeria? ›

Unemployed Nigerians can generate income using blockchain technology and cryptocurrency, as traditional jobs steadily become obsolete as a result of new technology.

What happened to cryptocurrency in Nigeria? ›

In 2021, the CBN had restricted banks and other financial institutions from operating accounts for cryptocurrency service providers. However, in December 2023, the financial regulator lifted the ban and announced a reversal of the policy.

What are the pros and cons of cryptocurrency? ›

Cryptocurrency in India offers financial inclusion, protection against inflation, remittance benefits, new investment avenues, fast transactions, and decentralization. However, it faces regulatory challenges, volatility, fraud risk, power consumption, and impact on traditional banking.

What's causing crypto to rise? ›

A major factor in bitcoin's rise since the start of the year has been the approval by the US financial regulator in January of exchange-traded funds [ETFs] – a basket of assets that can be bought and sold like shares on an exchange – that track the price of bitcoin.

How has cryptocurrency changed the economy? ›

Using traditional banking systems may be time-consuming, costly, and sluggish. With cryptocurrencies, transactions can be finished quickly (within seconds or minutes) and inexpensively. Businesses and people may now operate more effectively and spend less money.

What is the most used crypto in Nigeria? ›

The most-traded crypto currencies are Bitcoin and Ether. Other popular options are BNB and Dogecoin. Nigerians use crypto for P2P trading and to hedge against problems like inflation, as well as for investment – 90% expressed an interest in investing in cryptocurrencies in a survey released in 2023.

How do I cash out Cryptocurrency in Nigeria? ›

  1. One can receive and withdraw Bitcoin in Nigeria by following these steps:
  2. - Create a Bitcoin wallet that allows you to withdraw directly to your bank account. ...
  3. - Verify your account if required by the platform. ...
  4. - Deposit your Bitcoin to the wallet you created. ...
  5. - Sell your Bitcoin on the platform and convert it to Naira.
Nov 5, 2023

Is crypto taxed in Nigeria? ›

The Finance Act 2023 introduced a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. This implies that the Nigerian government recognizes the economic value and potential of digital assets and seeks to capture a portion of it for the country's development.

Is Bitcoin legal or illegal in Nigeria? ›

Cryptocurrencies are not illegal in Nigeria but firms must register in order to operate there, the government says.

Can I still use Coinbase in Nigeria? ›

Exchange platform Coinbase remains accessible in Nigeria despite reports to the contrary, as renewed calls for a crypto ban in the country have intensified, a spokesperson for the exchange confirmed to CoinDesk on Thursday.

Is bitcoin legal in Nigeria in 2024? ›

Crypto is not illegal in Nigeria! There are currently no laws or legislation criminalizing the use of crypto. Cryptocurrencies are widely traded on crypto exchanges across Nigeria.

What effect does cryptocurrency have on the economy? ›

Speculation and Volatility: The speculative nature of cryptocurrency markets can lead to rapid price fluctuations. While this can create investment opportunities, it can also pose risks and affect market sentiment and stability.

Why is crypto so popular in Nigeria? ›

The most-traded crypto currencies are Bitcoin and Ether. Other popular options are BNB and Dogecoin. Nigerians use crypto for P2P trading and to hedge against problems like inflation, as well as for investment – 90% expressed an interest in investing in cryptocurrencies in a survey released in 2023.

How big is the crypto market in Nigeria? ›

Nigeria's crypto transaction volume grew year-over-year to $56.7bn, Chainalysis has disclosed. This was a nine per cent y-o-y growth recorded between July 2022 – June 2023, the firm noted.

Does Nigeria tax cryptocurrency? ›

The Finance Act 2023 introduced a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. This implies that the Nigerian government recognizes the economic value and potential of digital assets and seeks to capture a portion of it for the country's development.

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