DiutoCoinNews

Bitcoin, Cryptocurrency News in Nigeria And Africa

WEEKLY OVERVIEW

Diutocoinnews Weekly: Announcing Diutocoinnews Magazine, a Weekly Publication to Fight Fake Cryptocurrency News and Scams. 

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Diutocoinnews Magazine is a weekly publication from Diutocoinnews Media. The main focus of Diutocoinnews Magazine is to investigate fake news, critical cryptocurrency known scams or suspected scams in Nigeria and Africa.

Diutocoinnews Magazine will be live by the third quarter of 2020. You can follow us on Twitter or join telegram @diutocoinnews. Subscribe to our Channel. The motto is “Safe Crypto, Faster Adoption”. We believe that when people get to see reasons to believe in what they are being told to use, they will find it more enthusiastic to use.

Getting people to be interested to use cryptocurrency is a different thing, it shouldn’t always be about using cryptocurrency to make money. Adoption is use case, making the ecosystem safe is also good so that people believe that they are safe with what they are using.

This weekly publication came about due to the increasing questions with the cases of Satowallet hack, Cryptsone and other claimed crypto scams in Nigeria.

Diutocoinnews Magazine will be out to investigate and report on a general community based views and contributions with facts.

Following the New Case of Coronavirus in Nigeria, the Value of Naira Depreciates to Dollar Affecting the Price of Bitcoin to Naira.

The Nigerian Naira (NGN) price to dollar depreciates, trading past N400 to dollar at the forward market after Nigeria reports the first case of coronavirus in the country.

Naira is priced at N413.55 to the dollar which is higher and more expensive compared with the N399.73 that it was trading last three weeks. 

Moreover, the spread of the coronavirus might be one reason that Bitcoin went down from its $10,000 plus high over the last few weeks. Many more blockchain based companies might start to work from home.

Binance Adds Support for Nigerian Naira on Binance P2P Platform Competing With Paxful.

Binance Cryptocurrency Exchange adds support for the Nigerian Naira (NGN) on Binance P2P (peer-to-peer) platform. This is part of its ongoing fiat-to-crypto expansion. 

Binance users in Nigeria can now directly buy and sell cryptocurrency like Bitcoin, Ethereum (ETH) and Tether (USDT) stablecoin with other users and verified merchants using the P2P platform.

With an Increase in the Number of Cryptocurrency Users in Nigeria, Central Bank of Nigeria Will Effect the Cashless Policy From 1st April 2020.

According to the Central Bank of Nigeria (CBN), cashless policy laws will take effect starting from 1st of April, 2020. 

Read in Full: Amidst the Growing Number of Cryptocurrency Users in Nigeria, Cashless Policy from the Central Bank of Nigeria Starts From 1st April 2020.

As regards to this development, most commercial banks like GTBank and other banks in the country is now sending out reminders to their customers to inform them before the day finally arrives. 

According to a message sent out by Guaranty Trust Bank Plc, customers will be charged for deposits and withdrawals exceeding the limits set by the CBN. This new fee charge is different from the already existing bank charges on withdrawals.

Moreso, personal bank account holders will be charged 3 percent for withdrawals and 2 percent for deposits exceeding N500,000 naira. Moreover, corporate account holders will be get a 5 percent processing fee for withdrawals above N3 million.

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