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Binance disables the naira feature on its P2P market; REASONS First, the government got a court warrant to hold the officials for a minimum of twelve days. In a press conference, President Bola Onanuga’s spokesperson claimed Binance was “blatantly” determining the 🇳🇬 exchange rate and taking over the CBN’s position as the entity that sets currency rates.

Telecom companies were directed by the NCC to restrict access to some of the biggest bitcoin exchanges globally, including Binance, Coinbase, and Kraken.

According to Nigeria’s top state officials, cryptocurrency companies enable money launderers and currency speculators to carry out illegal operations. Authorities think that a major factor in the naira’s decline is the “criminal activities” taking place on the platforms.

According to a report from Chainalysis, Nigeria continues to have the highest cryptocurrency usage in Africa and is among the most developed globally, with a 9% annual growth rate. This places Nigeria in third place out of only six countries that have seen consistent growth since 2021.

Nigeria has one of the youngest demographics in the world, with 43% of its current population under the age of 15, and one of the fastest-growing populations in Africa, with a current population of 223 million. A younger, tech-savvy population combined with declining smartphone costs is opening new avenues for cryptocurrency-related activities.#write2earn🌐💹 #Memecoins #bitcoinhalving

Binance disables the naira feature on its P2P market; seasons

Binance, a widely used crypt exchange with over 170 million users worldwide disabled its peer-to-peer feature for Nigerian users.

Known as the P2P market, the network lets users, buyers, and sellers transact without the intervention of a third party. It gained popularity among Nigerians in 2021 after former president Buhari’s administration outlawed the country’s vibrant Crypto industry.
Following the swift depreciation of the naira, which contributed to inflation reaching an almost three-decade high of 29.9%, the FG shifted its attention to websites that offered cryptocurrency services. These websites have become a viable option for engaging in trade and setting an informal value for the naira.

Concerns were expressed by the Central Bank of Nigeria regarding the $26 billion that came through Binance Nigeria from “unidentified sources” in the previous year.

“In the case of Binance, $26 billion has passed through Binance Nigeria in the last year alone from sources and users who we cannot adequately identify,” stated CBN Chief Olayemi Cardoso. “.
The head of CBN also suggested that the Office of the National Security Adviser (NSA), the Securities and Exchange Commission (SEC), the Police, and the Economic and Financial Crimes Commission (EFCC) work together to combat such illegal financial activities.#write2earn🌐💹 #BullorBear #BTC

what's the major issues on binance...?

Binance, one of the world's largest cryptocurrency exchanges, has faced several noteworthy issues and challenges. These can include regulatory scrutiny, security incidents, and operational challenges. However, please note that the situation can change rapidly, and I recommend checking recent news sources for the latest developments. Here are some common issues that have been associated with Binance:
Regulatory Concerns: Binance has faced increased scrutiny from regulators in various countries, with some jurisdictions either imposing restrictions or investigating its operations. Regulatory challenges can impact the availability of services in certain regions or lead to changes in compliance requirements.
Security Incidents: Although Binance has a strong security track record compared to many exchanges, no platform is immune to security threats. In the past, there have been incidents involving hacking attempts or unauthorized access to user funds.
Service Disruptions: Like other exchanges, Binance has experienced service disruptions during periods of high market activity or technical issues. This can affect users' ability to trade or access their accounts.
Customer Support: Binance has faced criticism for its customer support, with users reporting delays or challenges in getting timely assistance for account-related issues.
Regulatory Compliance: Meeting evolving regulatory requirements in different jurisdictions can be challenging for a global exchange like Binance. Compliance efforts can impact the availability of certain services or require changes to operational practices.
Market Manipulation Concerns: Cryptocurrency markets are susceptible to manipulation, and exchanges like Binance have had to implement measures to detect and prevent abusive trading practices.
Token Listings and Due Diligence: Binance's token listing practices have been a subject of discussion within the crypto community, with questions raised about due diligence and transparency in the selection process.
#write2earnonbinancesquare

THE SERVALS OUT GOING ISSUES ON BLOCKCHAIN?

Scalability:
One of the primary challenges facing blockchain technology is scalability. Public blockchains like Bitcoin and Ethereum have limitations on transaction throughput and speed. As adoption grows, the networks become congested, leading to higher fees and slower transaction confirmations. Solutions such as layer 2 protocols (e.g., Lightning Network for Bitcoin, and Ethereum's Layer 2 solutions) aim to address scalability concerns.
Energy Consumption:
Proof-of-Work (PoW) consensus algorithms, used by Bitcoin and Ethereum among others, require significant computational power, resulting in high energy consumption. This has raised environmental concerns and prompted exploration of more energy-efficient consensus mechanisms like Proof-of-Stake (PoS) and other consensus innovations.
Interoperability:
Blockchain networks often operate in isolation, making it challenging for them to communicate and interact with each other seamlessly. Interoperability protocols and frameworks are being developed to enable cross-chain transactions and data sharing.
Regulatory Uncertainty:
Blockchain and cryptocurrencies operate in a rapidly evolving regulatory environment. Different jurisdictions have varying approaches to regulating blockchain technology, cryptocurrencies, and related activities. Regulatory clarity is crucial for fostering innovation while ensuring consumer protection and compliance.
Privacy and Security:
While blockchain is touted for its transparency and immutability, privacy remains a concern, especially for public blockchains where transaction details are visible to all. Solutions such as zero-knowledge proofs and privacy-focused blockchains aim to enhance confidentiality without compromising the integrity of the blockchain.
User Experience (UX):
Blockchain applications often have complex user interfaces and require users to manage private keys, which can be challenging for non-technical individuals. #write2earn🌐💹 #write2earnonbinancesquare #BTC🌪️

To earn money through writing on Binance, you can participate in various programs and activities offered by Binance that involve content creation. Here are some steps and options you can consider:

Binance Blog Submissions:
Binance has an official blog where they regularly publish articles related to cryptocurrencies, blockchain technology, trading tips, market analysis, and more. They sometimes accept submissions from guest writers. You can inquire about their submission guidelines and topics of interest.
Binance Academy:
Binance Academy is an educational platform that covers various topics related to blockchain and cryptocurrency. They accept contributions from writers. You can create educational articles, tutorials, or explainers about crypto-related subjects.
Binance Research:
Binance Research publishes reports and analysis on cryptocurrencies and blockchain projects. If you have expertise in market analysis, fundamental research, or technical analysis, you could contribute to their research team.
Binance Community Content:
Binance often runs campaigns and contests where they reward users for creating content such as articles, videos, infographics, and more. Keep an eye on Binance’s announcements for such opportunities.
Partnerships with Binance Affiliates:
Some Binance affiliates and partners run programs where they pay writers for content creation related to Binance services, tutorials on using Binance products, or market analysis.
Freelance Writing:
Apart from official Binance platforms, you can also write articles for crypto-related websites, blogs, or publications that pay for content related to Binance and cryptocurrency trading.
Content Creation for Binance NFT Marketplace:
Binance has an NFT marketplace. If you're skilled in creating digital art or NFT-related content, you can explore opportunities to sell your work there.
When aiming to make money through writing for Binance or related platforms:
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HOW to Navigate to the Markets Section??

Look for the "Markets" tab on the website or app. This will take you to the trading markets.

To navigate to the Markets section on the Binance website or app, follow these steps:

On the Binance Website:

Open your web browser and go to www.binance.com.
If you're not already logged in, sign in to your Binance account.
Once logged in, you'll be on the Binance homepage. Look for the navigation menu at the top of the page.
Click on the "Markets" tab in the top menu. This tab is usually located next to other main tabs like "Trade" and "Wallet".
On the Binance Mobile App:

Open the Binance mobile app on your smartphone.
Log in to your Binance account if you haven't already.
You'll be on the home screen of the app. Look for the navigation bar at the bottom of the screen.
Tap on the "Markets" icon in the navigation bar. This icon is typically represented by a graph or chart symbol.
By clicking or tapping on the "Markets" tab or icon, you'll be directed to the trading markets section on Binance. Here, you can explore different trading pairs, view price charts, check the latest listings, and discover the top trending cryptocurrencies. Feel free to explore the various markets available on Binance to stay informed about the latest developments in the cryptocurrency world! If you have further questions or need assistance, let me know.#write2earn🌐💹 #ScamRiskWarning #BTC #EthereumPower

.WHAT BRINGS LOSE MOSTLY TO THE AMATEUR TRADERS ❤️‍🔥?

Amateur traders often face several challenges and pitfalls that can lead to losses in their trading endeavors. These challenges stem from a combination of factors, including lack of experience, insufficient market knowledge, emotional decision-making, and inadequate risk management. Here are some common reasons why amateur traders may encounter losses:

1. Lack of Education and Experience: Amateur traders often enter the markets without a solid understanding of financial markets, trading strategies, and risk management principles. This lack of education and experience can result in poor decision-making and increased vulnerability to market fluctuations.
2. Overtrading: Beginner traders may fall into the trap of overtrading, where they execute too many trades without a clear strategy or rationale. Overtrading can lead to higher transaction costs, increased exposure to market volatility, and diminished focus on quality trading opportunities.
3. Emotional Trading: Emotional decision-making, such as fear, greed, and impatience, can significantly impact trading outcomes. Amateur traders may panic-sell during market downturns or hold onto losing positions for too long, hoping for a reversal. Emotional trading often leads to irrational decisions and losses.
4. Lack of Risk Management: Risk management is crucial in trading but is often overlooked by novice traders. Failing to implement stop-loss orders, position sizing rules, and risk-reward analysis can expose traders to significant losses when trades move against them.
5. Poor Market Timing: Timing the market accurately is challenging even for seasoned traders. Amateurs may enter trades at the wrong time, chasing momentum or buying into overbought conditions, resulting in losses when the market corrects. #write2earn🌐💹 #BTC #Metaverse #bitcoin #Token2049

Traders often love feature trading because it offers several advantages and opportunities that can enhance their trading strategies and outcomes. Here are some reasons why traders are drawn to feature trading:

Increased Market Access: Feature trading allows traders to gain exposure to a broader range of markets and assets beyond traditional securities like stocks and bonds. This can include commodities, currencies, indices, and more specialized instruments.
Diversification: Feature trading enables diversification of a trader's portfolio beyond what is achievable with conventional investments. By trading features of various assets, traders can spread risk and potentially enhance returns.
Leverage: Futures contracts typically involve trading on margin, which allows traders to control larger positions with a smaller amount of capital. This leverage can amplify potential gains (but also losses) compared to trading the underlying asset directly.
Liquidity: Many futures markets are highly liquid, meaning there are often many buyers and sellers at any given time. This liquidity can make it easier for traders to enter and exit positions quickly and at desirable prices.
Hedging: Futures contracts provide a way for traders to hedge against price fluctuations in the underlying asset. For example, a commodity producer can hedge against price declines by selling futures contracts.
Speculation: Futures markets attract speculators looking to profit from price movements without necessarily taking physical delivery of the underlying asset. This speculative nature can create opportunities for traders to capitalize on market trends and volatility.
Price Transparency: Futures markets are generally transparent, with prices and trading activity publicly available. This transparency can provide traders with valuable information for making informed trading decisions.
Standardization: Futures contracts are standardized in terms of contract size, expiration date, and other terms. #write2earn🌐💹

Privacy Coins:
Privacy-focused cryptocurrencies like Monero (XMR) and Zcash (ZEC) offer enhanced privacy features. These coins may appeal to users seeking anonymity and fungibility in transactions.
Interoperability Projects:
Projects focused on interoperability, such as Cosmos (ATOM) and Chainlink (LINK), aim to facilitate communication and value transfer between different blockchains and networks.
When considering which coins to invest in:

Conduct thorough research into the project's technology, use case, team, and community.
Evaluate the project's roadmap and upcoming developments.
Consider the market dynamics, including competition and regulatory environment.
Diversify your investment portfolio to manage risk and exposure to different sectors within the cryptocurrency market.
Keep in mind that investing in cryptocurrencies involves risks, including volatility and potential loss of capital. It's essential to stay informed and make investment decisions based on your risk tolerance and investment goals. Consulting with financial advisors or experts in the cryptocurrency space can also provide valuable insights. #write2earn🌐💹 #bitcoin

Privacy Coins:
Privacy-focused cryptocurrencies like Monero (XMR) and Zcash (ZEC) offer enhanced privacy features. These coins may appeal to users seeking anonymity and fungibility in transactions.
Interoperability Projects:
Projects focused on interoperability, such as Cosmos (ATOM) and Chainlink (LINK), aim to facilitate communication and value transfer between different blockchains and networks.
When considering which coins to invest in:

Conduct thorough research into the project's technology, use case, team, and community.
Evaluate the project's roadmap and upcoming developments.
Consider the market dynamics, including competition and regulatory environment.
Diversify your investment portfolio to manage risk and exposure to different sectors within the cryptocurrency market.
Keep in mind that investing in cryptocurrencies involves risks, including volatility and potential loss of capital. It's essential to stay informed and make investment decisions based on your risk tolerance and investment goals. Consulting with financial advisors or experts in the cryptocurrency space can also provide valuable insights. #write2earnonbinancesquare #written2earn

Predicting which coins will be the best to invest in for 2024 involves a high degree of uncertainty and risk, as the cryptocurrency market is dynamic and subject to various factors such as technological developments, market sentiment, regulatory changes, and macroeconomic conditions. However, here are some considerations and potential areas of interest for investment in 2024:

Established Cryptocurrencies:
Bitcoin (BTC): As the pioneer and largest cryptocurrency by market capitalization, Bitcoin remains a popular choice for long-term investment due to its store of value properties and widespread adoption.
Ethereum (ETH): Ethereum is the leading blockchain platform for decentralized applications (DApps) and smart contracts. The upcoming Ethereum 2.0 upgrade aims to improve scalability and efficiency, potentially driving further growth.
Binance Coin (BNB): Binance Coin powers the Binance ecosystem and offers utility within Binance's products and services, including discounts on trading fees. BNB has shown strong performance and utility growth.
DeFi (Decentralized Finance) Projects:
DeFi continues to innovate in the cryptocurrency space, offering decentralized lending, borrowing, and trading services. Projects like Uniswap (UNI), Aave (AAVE), Compound (COMP), and Synthetix (SNX) are leading DeFi protocols worth considering.
Look for projects with strong fundamentals, active development, and growing user adoption within the DeFi ecosystem.
Layer-1 Blockchain Platforms:
Besides Ethereum, consider other layer-1 blockchain platforms such as Polkadot (DOT), Solana (SOL), Cardano (ADA), and Avalanche (AVAX). These platforms offer scalability solutions and unique features, attracting developers and users.
NFT (Non-Fungible Token) Projects:
NFTs have gained significant attention and adoption, especially in art, gaming, and digital collectibles. Look into platforms like Decentraland (MANA), Enjin (ENJ), Flow (FLOW), and Theta Network (THETA), which are involved in NFT ecosystems.
Privacy Coins:

To earn interest on your funds in Binance, you can participate in their various interest-bearing products and services. Binance offers several options for users to earn interest on their cryptocurrencies. Here's how you can add interest on your funds in Binance:

Binance Savings:
Binance Savings allows you to lock up your funds for a specified period and earn interest. This can be done through Fixed Savings or Flexible Savings.
Fixed Savings: You can lock your funds for a predetermined period (e.g., 7 days, 30 days) at a fixed interest rate. The interest rate is usually higher for longer lock-up periods.
Flexible Savings: You can deposit and withdraw your funds at any time. The interest rate for Flexible Savings may fluctuate based on market conditions but typically offers lower rates compared to Fixed Savings.
Binance Staking:
Binance Staking allows you to earn rewards by holding certain cryptocurrencies in your Binance account. Staking involves participating in the validation and governance of specific blockchain networks.
The rewards can be in the form of additional cryptocurrency tokens or a share of transaction fees generated on the network.
Lending:
Binance offers lending services where you can lend out your cryptocurrencies to other users who want to borrow assets for margin trading.
By lending your assets, you can earn interest on the borrowed amount. The interest rates vary depending on the demand for specific assets.
Launchpool:
Binance Launchpool allows users to farm new tokens by staking BNB, BUSD, or other cryptocurrencies. Users can stake their assets to earn rewards in the form of new tokens issued by projects launched on Binance.
Binance Liquid Swap:
Liquid Swap is a liquidity pool trading platform on Binance where you can provide liquidity to pools and earn trading fees and LP (Liquidity Provider) tokens.
By providing liquidity to these pools, you can earn interest based on the trading activity within the pool.
To add interest on your funds through these methods:
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Monetizing your funds on Binance involves using various strategies to generate returns or profits from your existing capital. Here are several ways you can monetize your funds on Binance:

Trading Cryptocurrencies: Binance is primarily a cryptocurrency exchange, so one common way to monetize your funds is through active trading. You can buy and sell different cryptocurrencies based on market trends, aiming to profit from price fluctuations. This can involve day trading, swing trading, or longer-term investment strategies.
Staking: Some cryptocurrencies supported on Binance offer staking opportunities. Staking involves holding certain cryptocurrencies in a wallet to support the operations of a blockchain network and earn rewards. These rewards can be in the form of additional cryptocurrency tokens.
Lending: Binance offers lending services where you can earn interest on your cryptocurrency holdings by lending them to other users who want to borrow assets for trading purposes. The interest rates can vary based on demand and market conditions.
Yield Farming: This involves providing liquidity to decentralized finance (DeFi) protocols on Binance Smart Chain (BSC) or other platforms. By supplying liquidity to liquidity pools, you can earn rewards in the form of interest or tokens.
Binance Savings: Binance offers savings products where you can lock up your funds for a specific period in return for fixed or flexible interest rates. This can be a relatively low-risk way to earn passive income on your crypto assets.
Launchpad Participation: Binance Launchpad hosts initial coin offerings (ICOs) or token sales for new projects. Participating in these sales can allow you to invest in promising new tokens and potentially realize profits if the projects succeed.
Trading Futures: Binance also offers futures trading, where you can speculate on the price movements of cryptocurrencies with leverage. This can be more complex and carries higher risk but can also offer higher potential returns.

If you're looking for guidance specifically tailored to using Binance effectively, 👍

6. Consider Joining Binance Communities
Engage with Binance's community of traders and enthusiasts through platforms like Binance's official Telegram groups, Reddit, and other social media channels. Participating in these communities can provide valuable insights, trading tips, and networking opportunities with experienced traders.

7. Secure Your Funds
Prioritize the security of your funds by implementing best practices such as enabling two-factor authentication (2FA), using a hardware wallet for cold storage, and regularly reviewing your account activity. Binance offers various security features and recommendations to help you protect your assets.

8. Diversify Your Portfolio
Avoid putting all your funds into a single cryptocurrency or trading pair. Diversifying your portfolio can help mitigate risks and maximize potential returns. Explore different cryptocurrencies, tokens, and trading pairs to build a well-balanced investment portfolio.

9. Learn from Mistakes and Adapt
Trading cryptocurrencies can be volatile, and losses are part of the learning process. Take the time to analyze your trades, identify mistakes, and learn from them. Adapt your strategies based on market conditions and your own trading experience to improve your overall performance.

10. Stay Patient and Disciplined
Cryptocurrency trading requires patience, discipline, and emotional control. Avoid making impulsive decisions based on FOMO (fear of missing out) or market hype. Stick to your trading plan, set realistic goals, and remain focused on long-term success.

By following these guidelines and continuously educating yourself about cryptocurrencies and trading, you'll be better equipped to navigate Binance and make informed investment decisions. Remember that trading involves risks, and it's essential to approach it with caution and responsibility.

If You're Looking For GUIDANCE specifically tailored to using Binance effectively, beyond the basics of trading, here are some additional tips and information that can help you navigate the platform and make informed decisions:

1. Explore Binance Academy
Binance offers a comprehensive educational platform called Binance Academy. This resource provides articles, tutorials, videos, and courses covering a wide range of topics related to cryptocurrencies, blockchain technology, and trading strategies. Take advantage of these resources to deepen your understanding of the crypto ecosystem.

2. Understand Trading Fees
Binance charges trading fees for every transaction you make on the platform. These fees vary depending on whether you're a maker (providing liquidity) or a taker (removing liquidity). Make sure to review Binance's fee schedule to understand how fees are calculated and how they impact your trading activities.

3. Utilize Advanced Trading Features
Once you're comfortable with basic trading, explore Binance's advanced trading features such as margin trading, futures trading, and options trading. These features allow you to trade with leverage and potentially amplify your returns, but they also come with increased risk. It's essential to fully understand these features and their associated risks before participating.

4. Conduct Technical Analysis
Learn how to perform technical analysis using Binance's charting tools. Binance provides a variety of indicators and charting features that can help you analyze price trends, identify patterns, and make informed trading decisions. Experiment with different chart settings and indicators to develop your own trading strategies.

5. Stay Updated with News and Announcements
Keep yourself informed about the latest news and announcements from Binance and the broader cryptocurrency industry. Binance regularly announces new listings, updates, and events that can impact market sentiment and prices. Following Binance's official blog, social media channels, and community forums can help you stay ahead of market trends.

YOU AS A BEGINNER

Learn from Mistakes: Mistakes are a part of the learning process. If you encounter losses or make poor trading decisions, take them as opportunities to learn and improve. Analyze your trades, identify areas for improvement, and adjust your strategy accordingly.
Join Crypto Communities: Engage with cryptocurrency communities, forums, and social media groups to learn from experienced traders, share insights, and stay updated on market trends. Networking with others in the crypto space can provide valuable insights and support.
Practice Patience and Discipline: Successful trading takes time, patience, and discipline. Avoid chasing quick profits or getting influenced by hype. Stick to your strategy, stay disciplined, and focus on long-term success rather than short-term gains.
Remember that trading cryptocurrencies involves risks, and there are no guaranteed profits. It's essential to invest time in learning, practicing, and gaining experience. Be prepared for volatility and be cautious when dealing with highly speculative assets.
#write2earn🌐💹 #BullorBear

Trading on Binance as a beginner can be a good option as it is one of the largest and well-established cryptocurrency exchanges globally. However, it's important to approach crypto trading with caution and take the necessary steps to increase your chances of success. Here are some tips for beginners trading on Binance:
(1) Educate Yourself: Start by gaining a solid understanding of cryptocurrencies, blockchain technology, and how crypto markets work. Learn about different trading strategies, technical analysis, and risk management principles. There are numerous online resources, tutorials, and courses available to help you enhance your knowledge.

(2) Start Small: As a beginner, it's advisable to start with a small amount of capital that you can afford to lose. This allows you to gain practical trading experience without putting your financial well-being at significant risk.

(3) Research and Due Diligence: Before trading any cryptocurrency on Binance, conduct thorough research on the project, its team, technology, market trends, and potential risks. Make informed decisions based on reliable information.

(4) Set Clear Goals and Stick to a Strategy: Define your trading goals and develop a trading strategy that aligns with your risk tolerance and investment objectives. Establish clear entry and exit points for your trades and stick to your strategy, avoiding impulsive decisions driven by emotions.
(5) Utilize Binance's Tools and Features: Familiarize yourself with the trading tools and features offered by Binance, such as limit orders, stop-loss orders, and trailing stop orders. These tools can help you automate and manage your trades effectively.

(6) Stay Updated with Market News: Keep abreast of the latest news, market trends, and regulatory developments related to cryptocurrencies. This information can help you make more informed trading decisions.
7) Practice Risk Management: Implement proper risk management techniques, such as setting stop-loss orders, diversifying your portfolio, and not investing more than you can afford to lose. #write2earn🌐💹

AS A BEGINNER NEVER INVEST MORE THAN YOU CAN AFFORD TO LOSE.

Now that we have that out of the way there are two routes you can take depending on if you are going to be an investor or a trader.

If you are an aspiring investor:

Go to Coin Market Cap (this is going to become one of many bookmarks)
Look at any of the cryptocurrencies in the Top 100 (organized by market cap) and pick a handful that sound interesting
Go to each ones website, determine what their project is aiming to accomplish, read their white paper.
Ask yourself: Does this even belong on a blockchain? (If you don’t know what a blockchain is refer to Coin Desk’s Blockchain 101 section or educate yourself further before contemplating making an investment decision in an asset class you know nothing about)
If you answered yes to the above, keep reading. Otherwise go back to the drawing board and research other interesting cryptocurrencies (also known as Alternate coins or altcoins for short)
Once you’ve found a cryptocurrency that you find interesting/are passionate about, its time to perform some fundamental analysis.#write2earn🌐💹 #Token2049