Binance has restricted Nigerian users’ access to free token airdrops, denying them potential earnings of up to $50 daily. Users expressed dissatisfaction on social media. This move follows ongoing tensions between Binance and the Nigerian government, resulting from a crackdown on peer-to-peer crypto exchanges. Many Nigerians are now using VPNs to bypass these restrictions and access Binance.
In a significant development, global cryptocurrency exchange Binance has restricted access to free token airdrops for users in Nigeria. This restriction represents the latest chapter in the ongoing strained relations between the Binance platform and the Nigerian authorities. Many users who previously benefitted from these rewards expressed their discontent on social media regarding the loss of potential earnings, which could reach up to $50 daily.
The airdrops had been offered as incentives for engaging in various activities such as signing up for projects, staking test tokens, and referring friends to the platform. A report from DL News indicated that Nigerian users visiting Binance to participate in these rewarding tasks were greeted with notices stating the unavailability of the giveaway program.
Chike Nnadi, a Nigerian student who regularly used Binance, voiced his frustration about the situation, pointing out the adverse effects on a country where many live below the poverty line. He noted, “It is a pity that for a crypto-loving country like Nigeria, our access to the industry is becoming severely limited as the days go by. This opportunity being taken away is frustrating.”
This restriction is compounded by an ongoing tussle between Binance and the Nigerian government, which began in early 2023. Following a sharp devaluation of the naira, Nigerian officials initiated a crackdown on peer-to-peer crypto transactions, primarily targeting Binance. This move led to local internet service providers being instructed to block Binance’s access shortly before the exchange itself disabled its peer-to-peer trading service in the country.
In response to these restrictions, many Nigerian crypto users have turned to over-the-counter exchanges and virtual private networks (VPNs) to access Binance. These VPNs enable users to change their internet locations and bypass restrictions, effectively masking their IP addresses to regain access to the platform.
The recent decision by Binance to block access to free token airdrops for Nigerian users highlights the increasing tension between cryptocurrency platforms and governmental regulations. Users are facing significant financial limitations, especially in a challenging economic environment. As individuals seek alternative ways to access Binance through P2P exchanges and VPNs, the ongoing conflict raises critical questions about the future of cryptocurrency access in Nigeria.
Original Source: www.mariblock.com
