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0 sats \ 3 replies \ @stack_harder 15 Jun \ on: How Nigeria’s Youth Are Surviving in a System Designed to Break Them bitcoin
how safe is it in general to trade crypto there with the gov ban? i imagine they're pretty incompotent , no?
are many vendors and things accepting sats and usdc directly?
You're right to question that it's a bit of a gray zone here.
After the CBN ban, most banks were ordered to freeze accounts linked to crypto transactions. So people adapted.
We now mostly trade peer-to-peer (P2P) using platforms like Binance (before it got limited), Telegram groups, or trusted third-party vendors but without a narration to prevent lock on account.
Many still use USDT and BTC, but through unofficial channels.
No one really accepts sats directly for everyday things yet except me trying to change people notion to SATS (lightning adoption is close to zero), but USDT on Tron is often used like cash for buying phones, cars, services, even rent.
So is it safe?
👉 Yes, if you're discreet and know who you're dealing with.
The government might be incompetent, but they do make examples when they want to scare people.
But overall?
Crypto is alive and thriving underground. Nigerians will always find a way. 🔐⚡
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nice, when they use btc are they just moving on chain and using it as savings?
also wonder are the vendors who are accepting tron usd at risk, since they;re more visable etc?
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Yeah, most people here treat BTC as savings it’s stored on-chain and rarely spent. When it’s time to pay for things, we swap to USDT on Tron for fast, cheap transactions.
As for vendors accepting USDT, they’re definitely more visible and at risk, especially if they use local banks or public groups. That’s why most keep it low-key, use codewords, and rely on referrals.
It’s a bit of a grey market… but people still find ways to survive.
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