Binance has restricted Nigerian users’ access to free token airdrops, causing significant frustration among users who could earn up to $50 daily. This follows ongoing tension between Binance and the Nigerian government amid regulations targeting cryptocurrency exchanges. Many users are now resorting to VPNs to regain access to the platform amidst these restrictions.
Binance, the prominent global cryptocurrency exchange, has recently restricted Nigerian users from accessing its free token airdrops, marking a significant development in the ongoing tension between the exchange and Nigeria. This change has sparked discontent among users who previously benefitted from these airdrops, which could yield earnings of up to $50 daily.
Nigerians often received these tokens as rewards for completing various tasks on the platform, including signing up for projects, staking tokens, testing decentralized finance (DeFi) protocols, or referring friends. However, last week, many Nigerian users logged onto Binance’s platform only to discover that access to these rewards was no longer available.
Chike Nnadi, a Nigerian student and avid Binance user, expressed his disappointment, stating that it is unfortunate for a country with a strong interest in cryptocurrency to face increasing restrictions. He highlighted the frustration of losing a potential income source in a region where many live below the poverty line.
Since early 2023, Binance has been involved in a conflict with the Nigerian government, particularly following the naira’s rapid devaluation. This pressure prompted authorities to take action against peer-to-peer crypto exchanges, particularly targeting Binance. Consequently, the government directed local internet service providers to block access to Binance, leading the exchange to disable its peer-to-peer trading platform in Nigeria.
As a result, numerous Nigerian crypto enthusiasts have shifted to over-the-counter peer-to-peer exchanges or employed virtual private networks (VPNs) to regain access to Binance services. These VPNs enable users to conceal their real locations and bypass restrictions imposed by the government, thereby continuing to engage in cryptocurrency activities.
The recent restriction imposed by Binance on Nigerian users highlights ongoing tensions in the cryptocurrency landscape, exacerbated by governmental regulations and the economic challenges faced in the region. Individuals who once leveraged the platform for supplementary income now find themselves limited in their participation. This situation underscores the significant impact of regulatory measures on access to cryptocurrency opportunities.
Original Source: www.mariblock.com
