Puff, like a $wif of smoke, they are gone. All gone. The thriving community of binance p2p traders from Nigeria disappeared overnight. It is hard to imagine how many people are affected or what the impact on Crypto in general or Binance in particular will be in the medium term. One thing is certain, it is a great loss. Nigeria, with apopulation of over 220m people is the largest country in Africa by population, has the largest economy as measured by GDP and is also the poverty capital of the world with an estimated 90m people living below the poverty line. With high youth unemployment, endemic corruption, high rates of crime and growing insecurity, the crypto economy had provided income and employment opportunities for many urban youth. However, bad economic policies, a surging inflation, raging insecurity and poor governance had led to surging inflation which had push the Nigerian currency, the Naira to record lows. The falling Naira and rising insecurity led to a mass exodus of not just talent but also multinationals which closed down operations and fled the country. The one bright spot, the Nigerian capital markets which had had a recent resurgence after the relative peace that followed the transition to a new government in May last year has come tumbling down. The government has decided to scapegoat Binance, going as far as arresting 2 binance executives in the country. This is a developing story..

Good advice

comprehensive

Tomorrow Jan 31st at 10am EST is the big #JUP launch on #Solana. If you haven't, pls check put lfg.jup.ag to see if you are eligible for the airdrop. An estimated 1m solana users will be getting free $JUP Even if you aren't one of the lucky few, there are still opportunities to make few bucks. The trick is to be able to buy at launch. Fortunately, Jupiter provides the tools to actually buy the #JupiterToken during the launch right on the website. You can use Trust Wallet or any Sol compatible wallet such as Solflare or Phantom. Alternatively, you can use the Fluxbot on Telegram. Naturally, you will need to acquire a bit of #SOL and have USDC or USDT. You can place limit orders or DCA directly on jup.ag or lfg.jup.ag. Most importantly, you will be positioning yourself to benefit from future JUP airdrops. There's still time. no dulling. #Write2Earn

This week I believe is going to be all about $SOL . I have been actively monitoring Binance launchpad and since #ALT farming ended, no new projects have been listed. The Solana ecosystem on the other hand has witnessed the launch of MockJup and WEN and is about to experience the monster launch of #JUP on January 31. With the launch of season 2 of SolanaMobile also going on, demand for #SOL is only likely to increase. Then there is the Solana ecosystem Telegram Trading tool FluxBot which also has a token release FluxB planned and is already distributing airdrop points. Lastly, there are a couple of prominent $SOL projects with token releases in the pipeline and airdrops already planned. These include #marginfi, #kamino.finance, #ZetaMarkets and meteora where you can start amassing airdrop points today. These are exciting times for Solana enthusiasts. Try not to miss out. #TradeNTell #Write2Earn:

Yesterday, for the first time ever, I received my first airdrop. It was 643,652 WEN, the new meme coin from Jupiter. One of over one million wallets that received the airdrop. I am elated, but that's not why I made this post. I have been in crypto since 2017 and I only just received my first airdrop yesterday. How's that possible? Its not like I don't own different Cryptos, I do. I have a diversified portfolio of more than 50 different Cryptos. Its not like I don't use wallets, I do. Up until the end of last year, I had Coinbase wallet, metamask and Trust Wallet. Its not like I'm not familiar with defi. I am, having occasionally swapped on Pancake, Uniswap, Sushiswap. Its not like I am not familiar with staking. I am. I have been staking Eth, Dot, Atom, BNB, XTZ, CTSI, MATIC and a whole range of Cryptos for the past 3 years. So what did I do wrong that you may also be doing and missing out on airdrops? First, I have primarily held on my Cryptos on Centralised Exchanges (CEXes) like Coinbase, Binance and Nexo. A very Conservative approach to Crypto. Secondly, I have been chasing small potatoes, farming new releases on Binance by staking BNB and get drips of #MANTA #ALT #AI #XAI and stuff like that or locking #MATIC or #SOL or #CTSI for 120 days at some pittance interest rate. Well, no more. The #JITO airdrop open my eyes, now I am off on a whole new trajectory. #WEN is just the beginning. I may have missed out already on the JUP genesis airdrop, but that's the very last time. Follow me to learn what I am doing differently now #Write2Earn

#BullsVsBears It is notoriously difficult to time the market, and many who have tried to do so have ended up on the losing side. If you do succeed, it is down to mere luck. No different from choosing red on the roulette wheel. That being said, how does one make money in the crypto markets irrespective of whether it is a bull or a bear market? What positions should you take? What does it mean to go long or short? How to maximise opportunities for success and minimise chances of failures? The most obvious strategy for success is to play the long game. That is, think like and investor, not a gambler. Research on coins you want to invest in to ensure that they are legit projects with a sound business case and some level of utility, diversify your portfolio according to your risk appetite, DCA when possible to reduce your average cost of acquisition, and avoid #shitcoins like the plague. That being said, all of this is well known. So what does it mean in practice? Say you have $1000 in USDT, how do you maximise your returns while minimising risks? Well, you have to buy something, right? Not really. If you believe in the power of compounding, you can stake USDT between 12% and 16% annually on most CEX and a few DEXs and still grow you capital, albeit slowly. That is the least risky option. You can also identify a blue chip coin like #DOT or #ATOM that has great staking returns. That way, you have some upside if the coin appreciates and still have between 14% and 16% staking returns. There is also the downside if the coin depreciates but in the long run, you come out net positive. Of course, you an always place bets that a particular crypto will rise or fall in the short term and take long or short positions, and pray that there are no wild swings and you lose everything. That is futures trading and probably the most risky of strategies, especially if you combine it with leverage where you buy a multiple times an underlying crypto. Lastly, you can trade. Try to buy low and sell high, timing the market. If you use limits and stop limits, you can minimise your losses

#cNGN There seems to be a buzz around the news that Nigeria's Central Bank plans to launch a stable coin in February this year. Amid established stable coins like USDT and USDC that have already cornered the market and fringe stable coins like FDUSD from Binance, PYUSD from payments giant Paypal and DAI from MakerDAO trying to get a slice of the action, it is hard to see what niche the cNGN will occupy, how it will be backed and what value it will bring to Nigerian crypto users or even the Nigerian economy. The Nigerian Naira (NGN) lost an estimated 80% of its value in real terms in the past 12 months due. This was primarily caused by an incompetent and corrupt administration, a clueless central bank governor and disastrous economic and monetary policies. Issuing a new stablecoin will not fix the Naira's woes. Better economic and monetary policies will.

#MyFirstFeedPost Hello, Binance Square!
many friends I know who are new to crypto don't take time to learn, don't know the difference between a coin and a token, have heard of a Blockchain only in passing and have never read a whitepaper. They just want to trade with the hope of making a fast buck. Some have been in crypto for years and don't even have a wallet and have never been on a dex. The singular focus on a single or multiple cex accounts and speculation on shit coins must have some major drawbacks. on the other hand, there are so many wallets, so many dexes, so many new dApps being released practically on a daily basis , it is hard to keep up, especially as these wallets and dApps seemed to be locked in different ecosystems. What's the best approach to this dichotomy ?