Cameroon Government To Legalize Cryptocurrencies

 

Cameroon to embrace cryptocurrencies soon.

Cryptocurrency is the world’s digital currency, used exclusively for online transitions. It is the currency the government of Cameroon has begun making plans to legalize.

Senior officials of the Ministry of Post and Telecommunications discussed “cryptocurrency Challenges, opportunities, and risks in Cameroon” in a workshop in Yaoundé on November 15.

Discussions were chaired by the Minister of Post and Telecommunications, Minette Libom Li Likeng during which
participants examined mechanisms that will facilitate the process to legalize and possibly regulate the use in Cameroon.

What is Cryptocurrency?

Cryptocurrency is a digital currency used for online financial transactions. There are currently about 6500 cryptocurrencies among some of the most widely used currencies are ; Bitcoin, Cardano, Stellar, Etherium , Solana, BCH, Binance coin and many others. 

The currency which is 100% virtual is the fruit of digital technology. Cryptocurrency can be stored in a digital wallet, and protected by a secret code, which belongs to the owner.

According to Minister Libom Li Likeng, “cryptocurrencies are decentralised digital currencies, which use cryptographic algorithms and a protocol called blockchain, to ensure the reliability and traceability  of transactions”.

Since cryptocurrency went into use in 2009, they have continued to be popular because of the absence of control of central banks. The cryptocurrency age is seen by many people as the most convenient era of exchange. As far as cryptocurrency is concerned, coins in gold, or silver or even bank notes are completely inexistent. It is a system of transfer of digital assets.

Buying and selling using cryptocurrency is done through online exchange platforms.

Cryptocurrency blessings

Many countries around the world are now creating and using their own digital currency. The over 6,000 cryptocurrencies in the world, have varied properties, features and uses.

Many people who have welcomed the new currency saying it is a decentralized digital currency with traceable transactions, secured by blockchain. People do not need banks to do transactions. Transactions are instant, and void of worries about interest rates and bank requirements. Cryptocurrency also uses a technology known as cryptography, to secure the system.

As for the Cryptocurrency services, Minister Minette Libom Li Likeng says “Cryptocurrency offers among other things, greater speed in transactions, greater reliability and security, availability and mobility, transparency and accessibility, as well as lower costs. Moreover, their values are driven by scarcity, as with precious metals”.

The Dark Side

A host of countries around the world have been using cryptocurrency for online financial transactions for over a decade now. Some African countries like Botswana, Ghana, South Africa, Zimbabwe, Kenya and Nigeria have developed their own digital currencies.

Regardless of how many countries have embraced Cryptocurrency for online transactions, but many worry about the volatile nature of the currency. Dr. Winfred Mfuh, Technical Adviser in the Ministry of Post and Telecommunication says cryptocurrency can not be regulated. It’s worth can’t be measured. Values change as demands also change.

“ There are scamming risks. Someone says he is selling cryptocurrency, do you know how it looks like ? Do you know where it comes from ? Who regulates it ? Once you take that risk, you have you have no insurance no one to blame, and nobody to go to”.

Cryptocurrency is not really accepted in most countries as a means of payment. The value also changes quickly, often determined by its demand.

Cryptocurrency use around the world is fast growing, regardless.

Do you wish to buy and sell or learn how to trade cryptocurrencies? Contact Cameroon Online School of Forex now +237675421156.

How To Buy and Sell a Cryptocurrency On Bkex Platform

 

Invest with Alex today.

bkex.com is a cryptocurrency trading platform with hundreds of cryptos- digital assets even more than coinbase and binance combined.

Bkex offers a simple to use platform even for crypto novists. Below i will explain how to use the platform with ease.

How To buy a cryptocurrency on Bkex.

Use chrome browser to login, enter email and password the click "get" to receive your sms code.

On the menu, click spot followed by "Exchange". From there you will have different cryptos to your left. To buy a crypto make sure you have USDT on your account.

Below the chart you will see Limit order, Market order and Sell-limit order. Please click "Market order". On buy volume enter the amount of the small coin (memecoin) you wanna buy. Just below it you will see the usdt value of the coins you wanna buy. Hit buy. Hurrrreeee you have bought your first crypto.

How To Sell Your Profit made on bkex.com Back to USDT.

To your right, under chart you will find the available amount of the small coin (crypto) you have. Under "Sell volume" enter the amount of the smaller coin you want to withdraw. Below it you will see the amount in Dollars. Click sell and your money transferred to your USDT wallet ready for withdrawal.

How To Withdraw your USDT to external wallet.

On your menu, click "assets" then click "Withdraw" then select "USDT". Make sure you select the same "Chain name (network) e.g TRC20 meaning that the network receiving is also TRC. Fill in your wallet address on blank space then below it enter your " withdrawal amt". Hey network fee is $1. Then click confirm to withdraw.

How To deposit using USDT

Still under assets, click "deposit", followed by USDT and select the "chain name" e.g TRC20

Copy the address and enter on the wallet you wish to use to send money to your Bkex account and follow the procedure and send. Now you will receive your cash on Bkex and can use it to buy cryptos as explained above.

Please register and account here and trade 200+ cryptocurrencies on one platform www.bkex.com and contact us on whatsapp +237675421156 your best cryptocurrency and forex trainer in Cameroon and Central Africa for more mentorship.

Nshing Rooney is a crypto and forex trader and trainer from Cameroon. He founded Cameroon Online School of Forex in 2017 and today is one of the best forex academy in west and central Africa. He is passionate about Agriculture, blogging and teaching.

SHIBA INU On A Bullish Move

 

SHIBA price prediction.

SHIBA inu is currently trading at 0.000035.9, ranking it at 4th position on binance with a 24h trading volume of 370.8 M

At D1, you will notice that for the past 3 weeks SHIBUSDT has crossed waves 1 and 2 and now heading to wave 3 of Elliott's waves.

SHIBA Inu rose by 1.60% on Friday. Partially reversing a 5.95% slide from Thursday, Shiba Inu Coin ended the day at $0.00002793.

A bearish start to the day saw Shiba Inu Coin fall to an early morning intraday low $0.00002703 before making a move.

Steering clear of the first major support level at $0.0000266, Shiba Inu Coin rallied to a late morning intraday high $0.00002850.

While falling short of the first major resistance level at $0.0000288, Shiba Inu Coin broke through the 23.6% FIB of $0.00002831.

An afternoon pullback saw Shiba Inu Coin fall back through the 23.6% FIB of $0.00002831 to sub-$0.0000725 levels before finding support.

SHIBA next target is 0.000045 before the end of December and it low 0.000023.

Create and account here on binance.com and start trading.

Cameroon Online School of Forex

Nshing Rooney.

Best Broker- Deposit And Trade With MTN MOBILE MONEY In Cameroon, Nigeria, Ghana and Africa- Breaking News

 

Best broker accepting mobile money for Cameroonians, Nigerians, Ghanaians e.t.c...

Now Forex traders from Cameroon, Nigeria, Ghana, Tanzania, Uganda, South Africa, Ivory Coast, Rwanda and countries using MTN Mobile money can deposit and withdraw with MTN Mobile Money. This will also ease traders from the stress of buying bitcoin and other cryptocurrencies to deposit or to convert them back to their local currency.

HOW TO CREATE AN ACCOUNT

Click this link www.exness.com and follow the simple instructions on how to create a real account with Exness broker.

After the one time click, enter your country, valid email address and create your own password, it should contain at least 1 uppercase letter, lowercase and any figures. Now you will receive a thank you message and below you will find a button asking you to open a trading account. Hit the button.

A message will pop up with username; Cameroon, then account number. don't bother much about this one but record it and keep.

Now, you need to verify this account with 1. Email 2. phone number, and Personal information. For phone and email, they will send codes there for you to confirm. For personal info, upload your ID card and Proof of residence(You may do this any time).

After doing this, click "open new account". Select REAL and MT4 and create a password for the account too. Now you have a real account with www.exness.com .

This is one of the best forex brokers for Cameroonians, Nigerians, Tanzanians, Ghanaians, Zimbabwe, Malawi, Kenya, South Africa, Uganda e.t.c... You have a minimum deposit of $10 and can even withdraw $5. Other means of deposit with the broker are bitcoin, USDT, Neteller, Perfect Money and many more...

Hey guys if you wish to trade Indices, CFD, pairs, cryptos and commodities create an account here www.deriv.com traded by millions of traders worldwide.

Welcome to Cameroon Online School of Forex, the best Forex trading school in West and Central Africa. Whatsapp us here if you have a problem in Forex trading https://wa.me56 or if you wish to learn forex trading in in Cameroon, buy trading robots and indicators.

Nice trading...

Social Media(Facebook, Instagram and Whatsapp) 4hrs Shotdown Caused a BTC Bull

Btc bull as Facebook, Instagram and whatsapp went off.

Social media and communication platforms Facebook, Instagram and WhatsApp went offline Monday as the price of Bitcoin and other cryptocurrencies surged.

As data from Cointelegraph Markets Pro shows, Bitcoin (BTC) price moved above $49,000 after falling to a daily low of $47,166, an increase of roughly 4.5% in less than two hours. Similarly, the price of Ether (ETH) rose 3.5% over the same period to reach $3,411 at the time of publication.

The sudden price volatility comes as major social media platform Facebook, photo and video sharing app Instagram, and messenger app WhatsApp — both owned by Facebook — went down at approximately 3:16 pm UTC on Oct. 4. According to Facebook's communications team, which communicated through Twitter, the company was “working to get things back to normal as quickly as possible.”

At roughly the same time on March 13, 2019, all three platforms reported a major outage that lasted more than 24 hours. At the time, Facebook attributed the problems to a “server configuration change.”

The interruptions may impact community engagement around crypto and blockchain projects, but Discord, Twitter, YouTube and many other platforms are still functioning normally. Many Crypto Twitter users are already using the incident to highlight the need for a decentralized social network built on blockchain.

“If they built Facebook on a blockchain, it would never go down,” said Allen Farrington, who regularly writes about Bitcoin and cryptocurrencies on his Medium blog.

The outage also follows former Facebook employee Frances Haugen turning over to journalists and others thousands of documents that imply that the company was not doing what it claimed in regard to removing from the platform hate speech and posts encouraging violence, among other things. Facebook’s stock fell by more than 5% on Monday to reach $324.90 at the time of publication.

How the Bitcoin model can solve the social media dilemma

Twitter is already working on its own decentralized social media initiative. CEO Jack Dorsey first announced in December 2019 that the platform would be funding a dedicated team to develop a decentralized standard for social media, and recently hired a crypto developer to lead the group. At the time, Dorsey said the aim was to shift away from content hosting and removal to recommendation algorithms directing users’ attention and to avoid content that sparks controversy and outrage rather than healthy and informative conversations.

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