This ignorance they hold back some people from getting into it fully, as government come dey against am, that one make am worse.
You are absolutely right. But never mind me, I think we need to differentiate when to use government or CBN. In my opinion, so far no bill was passed by the legislative arm of government in Nigeria and no bill signed by the president (Mohammedu Buhari) to illegalize the use of cryptocurrencies in Nigeria, I think we should not use government in this regard, using government can even create more fear among Nigerians. It is CBN than ban cryptocurrencies in Nigeria while the use is actually not deemed illegal but direct bank-crypto transaction is not possible for now due to the CBN ban but crypto P2P transactioni are 100% legal in Nigeria.
I am not saying your points are wrong, you are completely right, even CBN ban could have made some Nigerians not to invest in bitcoin and other crypto assets, and yet many people are not crypto literate enough.
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Removing the fuel subsidy should definitely result to price hike in Nigeria, but according to what I read recently, it is said that the price will not be increased much to the extent Nigerian economy will be affected, but I know this is Nigeria, we should be expecting price hike in my opinion. The federal government are tired of buy the fuel subsidy. Nigeria will use 94% of its revenue for servicing debt, you know Nigeria is in debt as this present government are mismanaging the country.
she actually said she wanted to start with $10 which is about our 5,000 naira but the person turned it down saying it's to small to start with and it's below trading minimum on binance, that she should have at least $200 which is about our 100,000 naira
You can trade even below 510 naira ($1) on some exchanges.
On binance, you need to have a minimum of 5100 naira ($10) for spot trading, but you can trade use less than 510 naira ($1) to go long or short on future contract.
5100 naira is enough to hold, but not enough to trade on binance because she will need to first learn spot trading even if she want to learn future trading. But using 100000 naira is also too much for beginners, having 25000 naira is enough to begin trading on biance, and not all will be used at ones.
I believe you teach her how to hold? Because as a beginner, she may only want to hold, confusing it to trading.
This is not funny at all, when the government is contributing less on the youths, yet still imposing sanction on having huge amount in ones account as EFCC collaborate with banks to query our source of income, I swear dem go search tired.
I have my money in Bitcoin and other cryptocurrencies like Tether, only the money I want to spend is in naira, naira is depreciative.