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Nigeria Is Paxful’s Second Biggest P2P Bitcoin Market, Trades Top $566 Million in Five Years

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Nigeria Is Paxful's Second Biggest P2P Bitcoin Market, Trades Top $566 Million in Five Years

Nigeria, Africa’s biggest economy and most populous nation, traded more than $566 million worth of bitcoin between 2015 and 2020, making it the world’s second-largest peer-to-peer (P2P) bitcoin market after the U.S., which traded $3.75 billion in the period under review.

According to an analysis of bitcoin trading platform Paxful’s database shared with news.Bitcoin.com, Nigeria has traded the equivalent of 60,215.7 BTC – more than any other country in the world. Only the U.S. exchanged more bitcoin – 535,660.3 BTC.

With trades of $55.3 million or 5,894.8 BTC, Kenya comes on as the world’s eighth most active bitcoin market and Africa’s second-biggest. South Africa traded $18.9 million bitcoin’s worth, making it the tenth biggest trader in the world and third in Africa.

Paxful chief executive officer and co-founder Ray Yussef said cross-border liquidity challenges spurred Nigeria’s BTC success: “Africa’s largest economy has problems and restrictions in sending and receiving money from inside and outside its borders.” He added that his organization’s gift cards have contributed to improving bitcoin liquidity.

Nigeria Is Paxful's Second Biggest P2P Bitcoin Market, Trades Top $566 Million in Five Years

Per the Paxful data, the U.S. reported a 32% decline in the number of bitcoin trades executed in 2020 while the Philippines recorded the biggest increase with 7,339% more BTC traded in 2020 compared to 2019. Vietnam’s 58% decrease in traded BTC was the biggest drop this year.

China transacted $181.3 million worth of bitcoin over the past five years, Canada $131.1 million or 15,367.4 BTC, and the UK $119.4 million (11,168.5 BTC), to complete the world’s top five bitcoin trading economies.

Paxful head of market insights Brian McCabe attributed large volumes of BTC transacted to the Covid-19 recession, which made cryptocurrency an alternative for earning income, moving money, and storing value. “There is also an analysis that there is the potential for economic pain in countries with USD denominated debt, especially emerging economies,” McCabe said.

“Countries such as Argentina who can only borrow in USD will need to repay more as their own currencies lose value to the dollar. As you can see here, most of Argentina’s debt is denominated in USD,” he explained. Argentina traded BTC worth $1, 771, 398 in 2020, recording an increase of 18, 641% since 2019.

“The problem for them is if the coronavirus continues to weaken their currencies and make the USD stronger, the money will continue to flow out of these economies and their relative debt will increase. If emerging currencies continue to experience pressure, bitcoin could once again become the alternative if people are unable to preserve wealth in their own currency,” McCabe noted.

What do you think about Nigeria’s surging bitcoin trades? Let us know in the comments section below.

The post Nigeria Is Paxful’s Second Biggest P2P Bitcoin Market, Trades Top $566 Million in Five Years appeared first on Bitcoin News.

Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com

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Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com

The privacy-centric web browser Brave has partnered with Bitcoin.com in order to give users access to cryptocurrencies like bitcoin cash from directly inside their browser. The newly added Bitcoin.com widget has been added to the latest Brave software and is now available to users in various countries.

  • The latest version of the privacy-oriented Brave browser now has a Bitcoin.com widget that allows people to purchase cryptocurrencies like bitcoin cash (BCH). The widget is available to users in select regions such as the EU, UK, Australia, New Zealand, Canada, and Russia.
  • Bitcoin.com’s founder Roger Ver tweeted about the recent partnership on October 21. “Bitcoin.com has partnered with Brave to allow users to buy Bitcoin Cash directly inside their privacy-centric browser,” Ver stated.
  • According to recent statistics, the privacy-centric Browser has roughly 19.6 million monthly users and around 6.6 million active on a daily basis. Brave’s Bitcoin.com widget follows a number of other popular exchange widgets hosted on the browser.
  • The new widget announcement was extremely popular on the Reddit forum r/btc, as a great number of BCH fans were pleased with the added accessibility. “This is great news,” explained one BCH proponent. “Been using Brave for almost a year now. I think I’ve made about $50 and have tipped a lot of journalists with it.”
  • “A lot of people love BCH, and the Bitcoin.com service,” Jonathan Sampson, Senior Developer Relations at Brave said on Twitter. “We want these people to be safe, and secure when they’re using Brave. For this reason, a widget helps to protect their transactions,” he added.
  • Bitcoin cash (BCH) transactions are lightning-fast and fees are always negligible. According to data on Saturday, Oct. 24, 2020, the next block fee for BCH is $0.0014 and the current median fee is $0.0012. In comparison, bitcoin’s (BTC) next block fee is $4.64 and the current median fee is $2.35.

What do you think about Bitcoin.com’s integration with the privacy-centric Brave browser? Let us know what you think about this subject in the comments section below.

The post Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com appeared first on Bitcoin News.

The Moss Piglet Dilemma: Paypal Bans Payments to Merchants Using the Word ‘Tardigrade’

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The popular payment provider Paypal has been known for cutting off a number of merchants and organizations over the years. This week, the public found out that Paypal has been censoring merchants that sell items related to the name “tardigrade” just because a Balkan arms dealer uses the same name. The story shows just how beneficial censorship-resistant money is today and how centralized monetary systems are ultimately doomed.

Ever since Paypal came out in 2001, the payment platform has seen broad use and a great number of users worldwide leverage the system. However, the payment processor is a centralized system, and over the years it has been known for restricting services to certain individuals and organizations.

For instance, Paypal censored the web portal Wikileaks and this invoked the nonprofit organization to start accepting bitcoin (BTC). Last year, Paypal shut off ties to workers leveraging the adult web portal Pornhub and 100,000 performers were left stranded. Now the most trafficked adult website worldwide accepts bitcoin (BTC) and litecoin (LTC) for payments.

Archie McPhee’s Paypal support response screenshot and some of the water pig or tardigrade themed ornaments he sells.

On September 11, Paypal once again was caught censoring merchants over the use of the name “tardigrade.” Basically, a tardigrade is an eight-legged micro-animal and people also call them “moss piglets” and “water bears.” The funny little water bears have a global fanbase and people collect all types of tardigrade merchandise.

On Twitter, the Seattle-based gift salesmen, Archie McPhee, complained that Paypal was censoring his tardigrade-themed products. The problem is there is a known Balkan arms dealer called Tardigrade Limited, and Paypal has blocked all payments to anything tethered to the word. This means any tardigrade merch that mcphee.com sells is banned by Paypal due to an algorithm that flags the name even if it is tied to moss piglet ornaments.

“Just an FYI— Paypal is currently blocking all transactions containing the word “tardigrade” in the product name or description,” McPhee tweeted. “We’ve contacted them and they told us we should just stop using the word tardigrade.”

McPhee said he changed the name on the page to “Water Bear Ornament” but he said it was a “terrible solution.” “You can still purchase all our tardigrade items with a credit card through Shopify, but not through Paypal,” McPhee stressed.

The gift salesmen continued:

If we can’t use the word ‘tardigrade’ in the text on the page, tags, or in the URL, how can customers find it? This is not limited to Archie McPhee. This is ALL OF PAYPAL. And they give a message that the USER is violating their agreement. It’s scaring customers away.

Screenshot shared by Archie McPhee on Twitter.

It’s a shame that merchants have to deal with such absurd rules and a mega-company like Paypal can’t even fix the system’s algorithm to give these sellers a better solution. McPhee also highlighted another merchant who was experiencing the same issues trying to sell plush tardigrade merchandise. Other types of merchants explained how Paypal censored them for dealing with sanctioned countries or other types of arbitrary decisions.

“Our transactions for Cuban coffee were blocked by Paypal,” one merchant replied to McPhee’s tweet. “We buy green beans from UK importers, roast and sell in the UK, and are not subject to Cuba sanctions. We had to omit Cuba from the title, but could use it in the description which isn’t passed to Paypal. Then we quit using [Paypal], they suck.”

Crypto proponent John Moriarty responded to McPhee’s Twitter thread as well, and he suggested using digital currencies instead. “Maybe then people should ‘just stop using’ Paypal— Direct crypto payments can’t be censored because there is no third party,” Moriarty wrote to the tardigrade salesman.

A number of Archie McPhee’s moss piglet or tardigrade-themed products.

For years now, companies like Paypal and other payment processors have censored a number of businesses, organizations, and individual merchants. Simply for trying to make a living, accepting payment for activism, or being located in a sanctioned country, centralized processors can destroy people’s livelihoods.

However, ever since Satoshi Nakamoto created Bitcoin, the world has had access to censorship-resistant funds that can be sent to anyone and bypass any border in a permissionless fashion.

Individuals, nonprofit organizations, sex workers, whistleblowers, journalists, and a myriad of other types of people have been barred from a variety of payment processors, as other firms like Visa and Mastercard have censored as well. McPhee and many other people should learn about digital currencies and how easy it is to accept crypto for payments.

One thing is for sure, blockchains like Bitcoin remove unnecessary third-party actors who have to either follow regulatory guidelines or have arbitrary opinions. The autonomy of crypto payment networks will never stop micro-animal gift sellers from selling cute moss piglets and stuffed tardigrades.

What do you think about Paypal censoring the tardigrade merchants over the name? Let us know what you think about this subject in the comments below.

The post The Moss Piglet Dilemma: Paypal Bans Payments to Merchants Using the Word ‘Tardigrade’ appeared first on Bitcoin News.

LZ Lending Innovates and Integrates Peer2Peer Into Platform

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LZ Lending, London’s premier cryptocurrency Peer 2 Peer lending solutions, announces the official launch of their new fully integrated and simple to use P2P platform designed to remove barriers and obstacles that have prevented millions of potential investors from entering the cryptocurrency community.

In addition to serving their already robust portfolio of investors, borrowers, and lenders, LZ Lending continues to revolutionize the blockchain and cryptocurrency industry by creating seamless, simple, and elegant P2P platform solutions that will attract new investors who have traditionally remained hesitant to dabble in the field.

The new simple and fully integrated platform is the result of several years of tireless work, ranging from research and development, testing, market research, focus groups, and input from other respected industry leaders.

“We are beyond pleased to finally share this elegant and powerful platform with the entire cryptocurrency community,” said LZ Lending President and CEO Yousba Bletoh. “Our goal was to provide a robust P2P platform that would not only thrill those who had extensive experience with cryptocurrency, but also be easy and user-friendly enough to encourage new faces and organizations into the community. We simply could not be more pleased with the results.”

In development for the last three years, the LZ Lending P2P Platform is already being lauded as one of the greatest developments in the past five years, and has been responsible for bringing in an estimated 30,000 first-time investors, lenders, and borrowers into the blockchain community during the beta testing alone, and is expected to add billions of additional funding into the industry by year end.

About LZ Lending

Founded in 2020 out of the United Kingdom, LZ Lending provides direct lending and loaning opportunities for individuals and organizations working with a wide assortment of cryptocurrency. A pioneer in blockchain technology, crypto asset diversification, and decentralized crypto lending designed to put the power of financial freedom into the hands of our users, LZ Lending offers the highest interest rates on deposits anywhere on the Internet.

Website: https://lzelnding.com

Email: [email protected]

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post LZ Lending Innovates and Integrates Peer2Peer Into Platform appeared first on Bitcoin News.

ClinTex’s Ongoing CTi Presale Gives Unparalleled Access to the $350bn Medical Trials Market

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Bitcoin Press Release: ClinTex announce details of their CTi Token Presale, which will give participants access to the $350bn/year Clinical trials market with a 50% price discount until 25th September 2020.

17th August 2020, London, United Kingdom – With the current global pandemic sweeping the globe, the fiscal impact can be seen everywhere, and in industries once considered safe havens, impacts expected to last a decade are commonplace. From the tech moguls of Silicon valley, to the high-tech production centres of Europe, It is clear that the world is crying out for innovation in a time where opportunities are few and far between.

To this end, London-based company ClinTex says it has the answer to a disempowered financial ecosystem. It looks perfectly poised to provide a solution not only to medical patients worldwide, but the healthcare industry as a whole and of course, to provide a potentially amazing return to its stakeholders through its CTi token pre-sale, which is currently ongoing.

Pharmaceutical Industry Inefficiencies

The value proposition for ClinTex lies in one simple observed fact – For an industry which is considered cutting edge, the Pharmaceutical industry is fraught with inefficiency. In such a notable time for health globally, these inefficiencies are having widespread consequences:

  • Large Time Delays – A promising medicine can take up to 15 years to get to patients, with untold amounts of heartache and emotional trauma for families and individuals alike. The CTi platform will help issues to be detected and prevented generating millions in savings.
  • High Testing Cost – It now costs over $2,500,000,000 to get a drug to market, with every day in clinical trials costing up to $8,000,000 in revenue erosion for each day a new medicine is delayed – And that cost gets passed onto the patient. CTi will vastly reduce costs, helping deliver medicines not just faster, but cheaper to those who need it.
  • Poor Data Quality – With the Clinical Data Visualisation App in CTi, fundamental and systemic errors in data can rapidly be detected and addressed, leading to greater insights and far better data application. Developments like this lead to greater industry progression long-term.
  • Little-To-No Collaboration – Currently, there exists almost no collaboration between industry players. This problem has been been magnified with the covid-19 pandemic. The opportunities for efficiency by extracting the intelligence and insights inherent in clinical data across the globe are many – This is perhaps one of the largest benefits – As the ecosystem grows in value, more partners sign up, and the value increases.

COVID-19 & CTi – Returns to Rival DeFi?
With the current pandemic raging on, and 142 COVID-19 vaccines currently awaiting trials, there has never been a better time for CTi’s implementation in the industry. We are already seeing haphazard attempts at research collaboration in the hunt for a COVID-19 vaccine and treatments. And with these spends potentially reaching into the trillions, CTi could represent the next generation of innovative profits to follow DeFi in re-igniting the crypto wave not seen since the ICO boom of 2017.

The CTi token pre-sale runs until 25th September 2020, and CTi can be purchased for a 50% discounted price of 0.05$ by visiting this link. $1m USD in CTi is available for purchase, which is equivalent to 10% of the total CTi supply. Leftover tokens will be burned, and the main sale commences in October 2020 where tokens will be available for $0.10.

ClinTex is doing what all companies strive to do in times of hardship – To innovate. And with a market valued at $350,000,000,000 per year, the possibilities are endless. Now is the time. Be a part of this exciting project and enjoy discounts on one of the industry’s most promising projects this year by visiting the CTi token presale link now.

ClinTex Website: https://www.clintex.io/

ClinTex Telegram: https://t.me/ClinTexCTi

ClinTex Twitter: https://twitter.com/ClinTexCTi

ClinTex Medium: https://medium.com/@clintexcti

Media Contact Details

Contact Name: Sean Flanagan

Contact Email: [email protected]

ClinTex is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The ClinTex token sale is closed to US participants and participants of all countries in which ICO/IEOs are illegal. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post ClinTex’s Ongoing CTi Presale Gives Unparalleled Access to the $350bn Medical Trials Market appeared first on Bitcoin News.