The Nigerian Government last Friday made the most heart breaking announcement for crypto lovers, declaring a ban on all crypto currencies including my favorite BCH. The ban came few years after a warning on the use of crypto currencies within the country in 2017. The Government claims that all crypto currencies are not trustworthy since they are not actual assets and can not be regulated hence, it shouldn't be allowed to operate in the country. The ban came with strict order from the central Bank to all the banks and financial institutions operating within the country to immediately dissociate themselves from all crypto exchanges and close every crypto related accounts operating with them.
Nigeria is possess the second largest cryto market with a lot of merchants adopting crytocurrencies including Bitcoincash and Bitcoin. The Nigerian youths unarguably are among the most dugged and hard working group of individuals. Despite the high level of unemployment in the country, they are still making a living from other struggles and huslings. High percentage of them are currently into cryto trading and cryptocurrencies happen to be the only financial gateway between them and the outside world as the Nigerian government had literally closed every other financial channels and prevented companies like PayPal and others from operating within the country.
This ban on cryptocurrencies is nothing else but a move from the government to further frustrate the people especially the youths and to prevent them from reaching their goals in life. Imagine a government which could not provide jobs for More than 80% of it's citizens and with a local currency which is continuously loosing value, placing a ban on the means of livelihood of the people. Many people including myself see cryptocurrencies as a means of making a living and as an opportunity to shapen the future. The Truth about this ban is that, the government is trying to get back at the youths for deciding to stand and speak up for their right or a fight against the total progress of the country.
The ban will have a slight effect on how I will use the bitcoincash in my possession now since I could no longer sell it easily for naira on exchanges and there are no much retailers accepting it. The few ones accepting it may now have to stop since the usage of cryptos is considered illegal. But in the middle of all this, all I see is an opportunity to even build a stronger and better future for myself.
Can the ban stop me from earning BCH?
I have been earning Bitcoincash on read.cash and I also have bitcoincash asset which I'm trading with, earning profits. The ban obviously has no effect on how much BCH I could earn from these places. This platform has really contributed to my BCH fund and I'm not giving up on writing here for any reason.
The read.cash fund also had recently been boosted to over $1Million dollars by non other than thesame @MarcDeMesel who has been making a lot of sacrifices to give people means of livelihood by promoting BCH and serving as the back bone of read.cash and noise.cash. This is definitely a motivation for every writer here to increase their earnings by writing more good articles. I'm not also going to miss out on receiving my fair share of the $1Million. So, I'm going to continue writing and earning.
It is an opportunity to hold more BCH against the Future
Since I could no Longer easily sell my BCH for naira on exchanges via spot, I'm going to save a lot of Bitcoincash. The ones I earn from writing and the profits I make from trade would be sent to a secured wallet awaiting when bitcoincash price will increase and BCH lands on the moon.
The world financial system is soon bowing to cryptos like BCH which could literally serve as cash and gold. I'm not having doubt that the government will make a U-turn on their decision soon when they realize the good in crypto and see that it's unstoppable; that the rest of the world had already adopted it.
I'm not giving up on the ambition to keep accumulating BCH and plan my future with it because of any ban because I Know that BCH is a project that has a bright future. Away from Nigeria, I can even use BCH anywhere in the world.
