On the Nigerian crypto exchange bitcoin rate exceeded $38 thousand.

On the Nigerian crypto exchange bitcoin rate exceeded $38 thousand.

Author: Robert Strickland

On the Nigerian crypto exchange bitcoin rate exceeded $38 thousand.
At the platform NairaEx the first cryptocurrency is sold at 64% higher than the current market price

The rate of bitcoin on the crypto platform NairaEx exceeded $38 thousand. According to data as of 11:30 January 30, the value of the asset on this platform is 17.8 million Nigerian Naira (NGN) - about $38.7 thousand at a rate of 460 NGN per $1.

NairaEx is a Nigerian crypto platform that offers exchanges of 12 cryptocurrencies for the country's national currency, as well as savings programs and crypto products with yields of up to 4% per annum.

The bitcoin rate recorded on the Nigerian crypto platform is 64% higher than the current market price of the asset. According to CoinGecko, the value of the asset at 11:30 Moscow time is hovering around $23,500.

The sharp rise in the value of bitcoin on the Nigerian crypto-platform comes amid new restrictions on cash withdrawals by individuals and companies at banks and ATMs in the country. On January 9, rules went into effect in Nigeria, according to which individuals and businesses will be allowed to withdraw 100,000 naira ($217) and 500,000 naira ($1.08,000) per week from banks, respectively, and 20,000 naira ($43.5) per day and 100,000 naira ($217) per week from ATMs. Amounts in excess of the limits will be subject to a fee.

The introduction of the limits is aimed at reducing cash turnover and the introduction of the national digital currency eNaira, launched in 2021. The Nigerian government has been actively promoting its use, but despite the efforts of the authorities, a year after the launch of the digital national currency, only half a percent of the population has used it.


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