As known from:
known from Coinwireknown from Benchknown from Coinindex
  • About CryptoGmblr.com
Contains commercial content
Cryptogambling / European crypto exchange WhiteBIT enters Nigerian market

European crypto exchange WhiteBIT enters Nigerian market

Publish Date: 05/06/2023

w, tags: european exchange whitebit - images.unsplash.com

European cryptocurrency exchange WhiteBIT has expanded its operations to Nigeria, recognizing its strong demand for blockchain technology and its potential as a thriving hub for finance and blockchain advancements.

“Opening a representative office in Nigeria is a logical step in the development of not only WhiteBIT, but the cryptocurrency community as a whole,” said WhiteBIT CEO Volodymyr Nosov.

“Nigeria is a country that understands the prospects that cryptocurrency holds. There is a big public demand for blockchain technology. Nigeria today has all the chances to become the centre of finance and blockchain technology. That is why it is quite logical that WhiteBIT is launching in Nigeria.”

WhiteBIT, one of Europe’s largest cryptocurrency exchanges, facilitates spot, margin and futures trading with a wide range of trading pairs and a maximum daily trading volume of $2.5 billion.

Having received an AAA rating from blockchain security auditor Hacken, WhiteBIT is the second most secure exchange globally. With stringent security measures, including identity verification and two-factor authentication, WhiteBIT claims to ensure transparency and safeguards user accounts.

Crypto scene in Nigeria

Nigeria, which cracked down on crypto trading two years ago, is now considering introducing tokenized coins on exchanges.

This move comes as the country’s authorities explore ways to reset adoption and harness the potential of digital assets. The pilot program aims to create a permissioned liquidity pool that includes tokenized bonds and deposits.

The decision to explore tokenized coins marks a shift from Nigeria’s previous crackdown on the crypto industry in 2021. The country’s central bank had raised concerns about fraud, terrorism financing and volatility associated with virtual currencies. However, authorities now see the potential benefits of regulated digital assets.

The Securities and Exchange Commission of Nigeria (SEC) plans to act as a regulatory incubator, allowing users to trade asset-backed tokens while ensuring investor protection and a level playing field.

Abdulkadir Abbas, the Head of Securities and Investment Services at the Nigerian SEC, explained the regulator’s approach, saying, “We always like to start, as a regulator, with a very simple, clear proposal before we go into the complex ones.”

The Nigerian economy has faced challenges, with the national currency, the Naira, experiencing depreciation against the dollar amid rising inflation. Many young Nigerians have turned to cryptocurrencies as a refuge.

However, the country’s central bank digital currency, the eNaira, has had limited adoption, with less than 0.5 percent of citizens using it, as reported by Bloomberg.

Despite the cautious approach towards cryptocurrencies, the SEC’s openness to tokenized offerings could foster innovation and growth in the industry. The move is expected to make the Nigerian market more accessible and attract foreign exchange into the country.

In a political context, Nigeria recently launched a national blockchain policy, which aims to create a blockchain-powered economy supporting secure transactions, data sharing and value exchange.

“We will reform government policy to encourage the prudent use of blockchain technology in finance and banking, identity management, revenue collection, and the use of crypto assets,” said Nigeria’s newly elected president Bola Tinubu in a manifesto before the 2023 election.

Top Online Casinos
Top Casinos Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
7.500 Gold Coins + 2,5 Sweepstakes Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 70,000 Lucky Coins and 44 Sweeps Coins
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75M WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5
Latest News
Charles Hoskinson forecasts Altcoin season showdown: ADA vs. DOGE
Cardano (ADA) Faces Dual Meme Coin Competition where ...
Top 5 AI cryptocurrencies ready to thrive during the next bull market
New crypto ventures merge the groundbreaking capabilities of ...
Top Crypto Exchange Sites
Crypto Exchange Guide
  • Crypto Exchanges
  • Betting Exchange
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
4.6/5
McLuck
McLuck
McLuck Review
4.6/5
High5Casino
High5Casino
High5Casino Review
4.5/5
Sweeptastic
Sweeptastic
Sweeptastic Review
4.5/5
Wow Vegas
Wow Vegas
Wow Vegas Review
4.5/5
Stake.us
Stake.us Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
T&Cs apply
4.6/5
McLuck
McLuck Bonus
7.500 Gold Coins + 2,5 Sweepstakes Coins
T&Cs apply
4.6/5
High5Casino
High5Casino Bonus
5 Sweeps Coins + 250 Game Coins + 600 Diamonds
T&Cs apply
4.5/5
Sweeptastic
Sweeptastic Bonus
Get 70,000 Lucky Coins and 44 Sweeps Coins
T&Cs apply
4.5/5
Wow Vegas
Wow Vegas Bonus
1.75M WOW Coins + 35 Free Sweepstake Coins
T&Cs apply
4.5/5

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPGGamblers AnonymousCloudflareSSLco² neutral
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$55 Stake Cash + 260K Gold Coins + 5% Rakeback
Promo Code
Go to Stake.us
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: CRYPTGAMBL
  • Play Stake Originals games for free
  • Get free Stake Cash daily just by logging in
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site