On the 5th of February 2021 the Central Bank of Nigeria circulated a letter to all Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFs), and Other Financial Institutions (OFIs) in Nigeria. The letter, in summary, prohibited these institutions from working with cryptocurrency exchanges.

What does this mean for BuyCoins?

We no longer have any accounts or integrations with any bank, payment processor, wallet etc. As such, we can no longer directly accept deposits or process withdrawals in Nigeria.

Introducing P2P (peer-to-peer) deposits & withdrawals

We make this work by matching user deposits to user withdrawal requests. Here’s a simple example to elucidate:

  1. User A wants to deposit N5000.
  2. User B wants to…

Our mission has always been to usher truly borderless exchange of value across the African continent and beyond.

We’ve always been aware that this mission is a complex, multistage marathon and in 2020 we took some important strides that we’re admittedly proud of – not because we’ve achieved our mission (we’re very far from that) but because we feel like we now have a decent foundation upon which we can build.

Stats

  • In 2020, users bought and sold a total of $141,395,605.75 of cryptocurrency across all products (Instant, P2P etc).
  • That’s 5 times more than last year’s trade volume (~$28m).
  • There…

Sometimes I think about those interviews where Elon Musk is asked about whether or not he thinks we’re in a simulation à la The Matrix. The question is somewhat nuts (like a lot of super broad, unanswered science questions) because it’s not necessarily straightforward to describe what being in a simulation means.

Anyway, I digress.

He often answers that he thinks the chances are higher than one might expect (he proposes a percentage that sounds to me like it can’t be based on any actual probability math).

The logic of his conclusion is as follows:

  • If you consider how realistic…

Not (just) Africa

There are a lot of very serious, seemingly insurmountable problems in Africa. I live in Nigeria, a place that’s now considered as the poverty capital of the world.

The thing I find the most ridiculous about that assertion makes the situation feel even bleaker — we have no idea how many Nigerians are in Nigeria. Incompetence is one thing, but worse still we’re led by people whose entrenched interests have prevented us from an accurate population estimate. …

A month ago, I wrote an article about a dApp game that someone anonymous built on top of NGNT. A good amount of people responded to me (on Twitter) that it all sounds very interesting on the surface, but they don’t really understand what a dApp (decentralised application) is and how to interact with one.

This post is supposed to help with that, somewhat. It should at least serve as a good “starting point” for anyone interested in getting a sense of what this is all about with as little technical jargon as possible.

Note: This article only talks about…

I’ve been working with people all over the world, almost entirely remotely (from Lagos, Nigeria), as a software developer, project manager, CTO & CEO for more than 6 years now.

Working from home (or anywhere, really) is something that comes naturally to me but I find that a lot of people struggle with it especially in these times. Millions of people have essentially been forced to work from home (WFH) and if my Twitter timeline is anything to go by: it sucks.

I recently did a remote (ha!) presentation about how to do good, healthy remote work, hosted by Tix

I was considering writing a separate review for each of these devices but given that I haven’t written any such thing since December 2018, I couldn’t trust myself to follow through with that plan.

Instead, what you’re gonna get is a mashup style review of every single device I use to output sound.

Speakers

HomePod

Black HomePod

The HomePod isn’t the only speaker in my home but it’s the only one we’ve been using for almost 2 years. That’s because it excels in certain, important aspects:

  • The sound is amazing. It’s obviously impressive for it’s size and when you pair two (which we sometimes…

Support received two emails sometime early this morning from an admittedly curious (and funny) sender email address.

NaijaSatoshi’s first email

Aren’t we all?

Was

I, like most people who were raised in Nigeria, held traditional & problematic views when I was younger.

There were definitely some generally accepted things that I think never made any sense to me but there were others that I truly believed, for varying lengths of time.

I don’t remember ever understanding why people thought women were inherently bad at math & science but I was definitely someone who cared about “body counts” & wanted “my women” more chaste than I was. …

(This read — and honestly any other one — would be nicer if you had any playlist from duduke playing in the background)

I still struggle with what exactly these year reviews should be, despite having already written 5 of them (this one being the 6th).

I woke up this afternoon (had a long ass irresponsible night) feeling like I didn’t have anything to talk about per this year until I started looking at pictures on my phone and found that I was wrong.

As someone who is perpetually unsatisfied, I’m always looking forward, with ideas as to how he…

Timi Ajiboye

I make stuff, mostly things that work on computers. CEO at BuyCoins (https://buycoins.africa).

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