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Nigerian Cryptocurrency Marketplace Tanjalo Closes its doors on Its second anniversary

Published

5 years ago

October 5, 2019

Nigerian Cryptocurrency market place closes its doors citing difficulty in business operation as primary reason for shutting down

West African based Cryptocurrency marketplace, Tanjalo has closed its doors on occassion of its second anniversary after it was launched in 2017. Tanjalo launched as a service that made it possible for anyone to purchase Bitcoin without having to undergo overbearing KYC requirements and restriction.
The firm prides itself as the first in West African oil rich country of Nigeria that enabled users to purchase and own Bitcoin directly to wallets they own the keys to. Marking its second anniversary, Tanjalo announced it will be shutting down business. Giving reasons for the decision, Tanjalo revealed that after several months of making all available and known attempts to keep the platform business a going concern and not succeeding meaningful progress, it had decided exploring the last option which was closing down business for good.
Putting up a short post on its index page, Tanjalo which was formerly described as “Tanjalo is the fast and easy way to buy Bitcoin in Nigeria” now reads “Adios! Tanjalo was the fast and easy way to buy bitcoin in Nigeria.”
The Exchange platform expressed its appreciation on the growing industry in Nigeria and is confident that others in the space industry in Nigeria will continue to offer unique and world class products in the industry to both local and global customers.
This is the second platform owned by Nigerians to make headlines with such news in recent times. In September 25th, Satowallet’s CEO, Samuel Benedict released a detailed medium blog post revealing the challenges which the exchange was facing. In the blog post, Samuel Benedict accused the French hosting firm OVH.Com of deliberately sabotaging its operation by withholding access to the servers which powers the platform and theft of the crypto assets on the wallet server.
Investigation is currently going on as reported by local self-regulatory body SiBAN. While Satowallet has come out to accuse its Hosting Service provider, Tanjalo has announced the discontinuation of its service giving reasons why it has decided to tow this line.