Would you like to buy bitcoin with credit card in Nigeria but don’t know how?tinyurl.com Well, today might as well be your lucky day. I can recall losing some of my money while I’m trying to buy bitcoin easily from the comfort of my room. The goal was to have a hassle free transaction, but Instead, I end up losing some of my money. I lose some of my money because I wasn’t informed. I don’t know the right way to go about it. The good thing is, you don’t have to make to make the same mistake like I did.
I this article you’re going to learn how to easily buy Bitcoin with your credit where ever you are in Nigeria as easy as possible. Buying Bitcoin from several merchants in Nigeria can be risky because you stand the chance of falling a victim. In other to avoid this I recommend buying your Bitcoin with credit card using Luno wallet. A simple breakdown of how to buy bitcoin with credit card in Nigeria using Luno wallet. Before we get started, let me give you a quick overview of Luno and how it works in Nigeria. Luno, formerly BitX is a Bitcoin exchange company headquartered in London with operations in Nigeria, South Africa, and 38 other countries. Luno accepts Master or Visa Card from any bank and accepts Nigeria local currency. This way you won’t be charged for Dollar to Naira conversion before you buy your bitcoin.
Additionally, another good thing about Luno is that, as you can easily buy bitcoin with instant funding. You can also cash your Bitcoin as Naira into your local bank account. For now, Luno is still the cheapest bitcoin exchange in Nigeria and they charge 1.5% of your transaction. Click on the get started button to Register Bet 9ja a free account with Luno. After registration, a confirmation link will be sent to your email, click the link to confirm your account. Upon login, you will need to verify your account through SMS code. Click the more button and proceed to deposit money.
After that, you will be directed to the above page. Click the PayU icon to deposit your money into your Luno wallet. Input the amount you want to pay and click next. Proceed by clicking… Continue to PayU. Input all the necessary card details and Timmy Gallegos click continue. Your bank OTP will be sent to you to verify you are the one doing the transaction. Finally, input the OTP from your bank and click next before the OTP expires. After clicking the Next button its going to direct you to a success page and your account will be credit immediately. What you need to do now is exchange the deposited money for bitcoin. Now refresh your wallet and go back to the homepage. At the home page, you should see something like the above image, hit the bitcoin logo to proceed to the next page. Choose what you want to buy. In this case Bitcoin, the same thing goes for Ethereum too if that’s what you want to buy.
Below is a simple step-by-step guide to buying ProximaX in Luno-supported countries. Sign up for a Luno account and verify your identity. Log into your Luno account and navigate to Accounts. Click on your local currency account and on ‘fund account’. After you’ve added money to your Luno wallet, you’ll be able to buy Bitcoin. Look for the XPX /BTC currency pair ranked by 24h volume. VantageX is a cryptocurrency exchange platform that facilitates trades of various cryptocurrencies between users. Started in early 2016 as a platform for trading cryptocurrency tokens hosted on the NEM blockchain, VantageX has since expanded to include some of the most popular cryptocurrencies in the world. Depending on the platform you’re using, you’ll be provided with a Bitcoin address. You can send the Bitcoin from Luno to your preferred XPX exchange.
Once the funds arrive, simply follow the platform’s instructions on how to purchase XPX . Since day one, we’ve been keeping a close eye on the progress, use cases and adoption of ProximaX and most other blockchain projects. We’ll keep monitoring the payments, cross-border and remittance landscape and keep working hard to build the financial system of the future. ProximaX’s advantageous tech has the potential to transform the Internet as we know it. There are challenges because of tech’s immaturity, but the increasing investments and R&D promise a bright future. It’s not an easy road, as many companies can be reluctant in implementing blockchain. But blockchain can help with that by providing conditional information based on what needs to be shared. With more enterprises trying to join consortia to work on blockchain proof of concepts and pilots, it won’t be long before large-scale projects are introduced. Blockchain has emerged as a disruptive technology and it’ll be an exciting journey for this tech as it takes the world by storm.
Ray Youssef, Co-Founder and CEO, Paxful. Paxful, peer-to-peer bitcoin marketplace, has announced the official launch of their wallet app. They have also pledged to continue aiding the growth of entrepreneurship in emerging markets by giving away bitcoin to those who attend the workshop and download the wallet app. Through interactions with customers, Paxful has gained valuable insights into how consumers are evolving their use of digital currencies, with bitcoin becoming more mainstream in everyday lifestyle and business transactions, rather than for investment or speculative trading. Based on these insights, Paxful determined that it should launch a wallet app to make buying, selling, and storing bitcoin easier. The Paxful wallet app will work seamlessly in connection with the Paxful website, providing secure storage to all customers. It is available for Android and iOS devices. “As a values-driven company, we want to make the bitcoin economy accessible for everyone, especially the underbanked. To this end, we would like to reach as many young people as possible to help them understand the digital currency market and transact safely and with confidence. Our aim is to continue to partner with customers and other key stakeholders to ensure they are well informed about the opportunities presented by peer-to-peer finance,” stated Ray Youssef, CEO, and co-founder of Paxful.
Abuja — A financial technology solution company and widely recognised Bitcoin Exchange in the world, Belfrics Global Technology, has launched its operation in Nigeria, under Belfrics Nigeria PVT Limited. The Executive Director of the Nigeria branch, Mr. Victor Evoh said that the company is known for its Blockchain solution, which entrenches local content and effective regulations where necessary to boost the economy of the country. The Nigeria branch came after its successful launch of Kenya's operation last week. Unveiling the solution, the Chairman and CEO of Belfrics Global, Mr. Praveen Vijay said that the Blockchain solution helps to enhance all existing data base in a system, transparency in government operations and openness in public service. In fact, we have Blockchain in virtually in every facet of life because everything we do is not tangible but digitalized. It is digital information.
Blockchain solution harnesses all this information and gives transparency to it. That is why it recorded everything it does in a ledger. It is like a book everybody goes in and see. Also speaking on the digital technology solution, the Director Administration and Human Resources, Jay Ukachukwu said Blockchain came to eliminate corruption and enthrone openness in governance and all public establishments. He explained that people may be sceptical to embrace the technology now but would soon realise the potency in eliminating corruption, double registration and usher in public confidence in every public business and transaction. Blockchain technology was developed as an aftermath of what happened in Wall Street in 2008. There was financial down turn in the world called economic meltdown.
On May 11, 2019, The Ferrum Network team conducted a live Q&A session in Telegram, hosted by AIG Investors International. We’ve compiled all the question and edited it for our future Ferrum Network community members to read. Some of the questions, answers, responses and sequence of questions may have been edited or modified for clarity and readability. Questions were answered from several community members. We want to thank everyone who participated in asking questions or watched with interest!bit.ly Main Participants: Naiem Yeganeh — CEO of Ferrum Network; Ian Friend COO of Ferrum Network; Germaine Ifudu — Ferrum Advisor and Co-Founder of Kudi Exchange; Mike Co-Founder of AIG International; and Crypto Holland Founder Angels Investor Group Entrepreneur. We have a Live Telegram AMA with the Founding team of Ferrum Network.
Naiem, can you give us a brief introduction of yourself, some background on how you got involved in crypto and how you guys started the Ferrum project? Ian Friend (COO Ferrum Network) — Hey guys, excited to be here! Naiem Yeganeh (CEO Ferrum Network) — Hi everybody. I am Naiem Yeganeh CEO of Ferrum Network. I first learned about Bitcoin in 2009 while I was doing a PhD in UQ Australia researching distributed database systems. Since I moved to U.S. I’ve worked for: Microsoft, Amazon, and Bloomberg. Ian — In terms of how Ferrum Network got started, Naiem and I met in early 2018, while he was working at Bloomberg.
By the time we met the Ferrum Network test net was already operable and connected to the BTC and ETH blockchains and could achieve instant peer-to-peer exchanges of those assets over the network. We then won a competition at Consensus 2018 and were one of 5 projects to pitch to investors on the main stage. After that we got some initial buzz and attracted our seed investors. Since then it’s been heads down building out the first of our products that run on the Ferrum Network — Kudi Exchange. That’s a fantastic accomplishment, and so early in the project. Ian — Yeah, we were blessed to have that opportunity.
It’s now Consensus 2019 and we are excited to come back to the conference better and stronger than ever. Could you give us a brief overview of what problems Ferrum is aiming to solve? Ian — Ferrum Network was designed to solve the problems of lack of interoperability between the networks, and the slow speeds of blockchains in general, and also the lack of interoperability with fiat. Ferrum Network is designed to connect to any blockchain and works natively with fiat. How did you choose or come by the current active Ferrum Network team? How many members in total? Ian — The team is comprised of experienced professionals across the spectrum from big tech, blockchain, law, finance and the world of ICOs.
We chose them based on their experience and the value they bring, so for instance we recently brought on two experts in tokenomics, we also have a team of Fin. Tech pros on the ground in Nigeria for the Kudi Exchange product. Who are your biggest competitors? Ian — In terms of competitors, Register.bet9ja.com each product has its own set of competitors, as does the network itself. For Register.bet9ja.com the product that is live with users now (Kudi Exchange) the biggest competitors are Luno, NiaraEx and other similar exchanges in West Africa. We have differentiated ourselves because we are not only a faster and cheaper digital currency exchange, it is the only in West Africa with access to US Dollar backed stable coin, and the ability to send fiat currency instantly peer-to-peer. What have you done now to set yourselves up for success 5 years from now?
Naiem — Ferrum Network’s focus is on core business metrics to make sure we are going to have a sustainable Fin. Tech business. The main focuses are on growth and our core differentiating technology. You guys are building among other things an Interoperability Network, can you explain a bit how this works and what the advantages are compare to the existing networks? Ian — Our interoperability network is unique in that we have a patented technology for value transfers across networks using decentralized proxy tokens and value pegs to the underlying asset. Naiem can explain the technology further, but it’s a unique technology based on his years of experience in distributed-database systems. What made you decide to start with the Kudi Exchange and why Africa? Ian — Africa is the perfect use case and place for our product.
5-10mil volumes per month. And you already had a seed round/private sale if I understood it right? 120k. The private sale round is opening up at the end of May or early June. I know I might be a bit ahead, but any plans on expansion to other regions? If so, how will you make your selection? Ian — Yes, we are already in talks with people in Ghana and Kenya to expand Kudi there. In fact, the app is nearly ready to accept the Ghana dollar and Kenya Shilling. The other reason we did not focus on a more saturated market is because competition is very steep in those places and its very expensive to get licenses there. We had the connections in Nigeria and the market did not have large incumbent players. That makes a lot of sense Ian.
Thanks. Think a strong argument is also the weak value of the local currency that drives bitcoin in these countries. Ian — Yes, which is why we partnered with Gemini to be the only exchange with GUSD available. Is there already a schedule for the private sale? 120k doesn’t sound like a lot of funding. Do you think this initial investment in your company will be enough to keep you on track for the ICO/IEO? Ian — 120k is not a lot, but we are a very lean start up and have a low cash burn rate. We focused only on the product and business development and Register.bet9ja.com guerilla marketing.
Once we raise more, we will do a greater marketing campaign. You guys are building among other things an Interoperability Network, can you explain a bit how the other platforms work and what the advantages compared to the existing networks/cryptos? Naiem — This is a question that is hard to answer with the limited time in this Q&A but, overall, we use a method we call decentralized proxy tokens. We have also partnered with Fusion to improve the security of the decentralized proxy solution based on some recent academic publications. One unique feature is that we can interop with any network that uses elliptic curve cryptography (DAG). Are there a lot of current elliptic curve cryptography networks? Naiem — Pretty much any Crypto worth the ironic exception of IOTA which our DAG blockchain is based on.
What makes the Unifyre wallet different from existing cold wallets and how do you secure this wallet? Ian — UniFyre Wallet is actually a hot wallet but it is unique in that it runs on the Ferrum Network so it cross-chain, extremely fast and super cheap to exchanges/transact any digital asset. Every transaction in the Ferrum Network happens in milliseconds because it is a DAG. It also costs about 1 cent in FRM tokens for that transaction as a gas fee. Therefore, to send 100k worth of BTC you don’t have to pay the bitcoin miner fee. Just 1 cent in FRM network fees. We have a solution cold-wallets as well.
It’s called Sub-Zero Wallet and it’s the most secure and accessible cold storage app on the market. It works with any offline android phone and can interact with our hot wallet and our exchanges. Sub-Zero Wallet will be released in Q3 as an app. It’s not a hardware wallet per se. But this means it is much cheaper and accessible worldwide. It was designed with emerging markets in mind but will be marketed to the greater portion of crypto enthusiasts, investors and traders. What tokens can u store on the Unifyre wallet? Germaine Ifudu (TLG Ventures) — The technology can work with any network or coin, but we will be selective on which we enable at launch. Ian — Right now, Ferrum Network is connected to the Bitcoin blockchain, Ethereum blockchain and Ripple network. So, it supports ERC-20 tokens, BTC, and XRP.
Next, we’re looking to connect to Binance’s chain, EOS, Timmy Gallegos and some other major chains to support more assets. Can u tell us something about the listing process on the Exchange? Ian — So for Kudi Exchange, we are being extremely and only listing assets that make sense in that market. For UniFyre, we will list more tokens, but only through a highly vetted process. Does it have disadvantages to have ‘shit’ tokens on Ferrum? Ian — No just reputational harm if they are scams. The truth is we want all respected and worthwhile tokens to be tradeable in Ferrum, even the up and coming ones!
How will you get enough liquidity on the DEX? This seems like a big challenge for a starting crypto with many ideas/platforms already being worked on. Ian — In terms of the DEX that is a longer-term product that we will focus on when the market conditions are ready for a DEX. Ours is very unique in that is a true cross-chain high speed DEX that can compete with the best CEXs but never holds your assets. How can we compare your cold storage solution (Sub-Zero Wallet) with the current Ledger device? How is Sub-Zero different and what makes it more secure than Ledger? Naiem — From the market point of view there is no hardware cost because it’s based on any Android wallet and available around the world.
Where-as Ledger is a luxury hardware wallet, there’s a monetary investment that an investor or generic crypto enthusiasts have to acquire a Ledger or Nano. 1. I want my cold wallet to have NO physical or air connection to the internet not even through a USB. 2. We utilize several layers of security, the on device trusted computing unit (through Rivetz), Android encryption and Sub-Zero encryption. 3. We will have 3 out of 3, and 3 out of 5 recovery phrases to drastically reduce the risks of having a single recovery card. A very important subject is the FRM token, which are spent and burned for every transaction on the network.
Can you tell a bit more about the token and how it’s used in the network? Ian — The FRM token is the gas of the network. It’s like Ethereum gas. It is required to be spent and burned for each transaction. For example, when someone on the UniFyre wallet sends BTC to their friend, that will cost 1 cent in network fees. But since there are no miners, it’s not Proof-of-work (POW), rather it’s called proof of burn which require the FRM token be burned to confirm the transaction. We earn revenue from small fees we charge to use the products.
For instance, Kudi Exchange charges about 1.5% every time you deposit or withdraw money to and from your bank account to your Kudi app. We also have very unique token metrics that allow us to raise a fraction of what other projects raise and yet still hit our roadmap goals. It’s called The Reserve Model. Token metrics are not published yet, right? Ian — We think you will love the metrics. They align the incentives of the project and the investors and place more risk on the project and not the investors. We think they represent the future of crypto project fundraising.
The available details can be found in our One-pager. Is it possible to currently run a node on your network? Naiem — Yes eventually. We are working to release the test net publicly as soon as possible. Is the Reserve Model already described in the whitepaper? Or Register Bet 9ja will it be elucidated with the token metrics? Ian — It is not in this version of the whitepaper but will be in future versions. We will be publishing a medium article about it in the next few weeks. But essentially what it does is keep a percentage of tokens locked in the company reserve, and they only get released when we hit certain traction-based milestones and slowly over the passage of time.
For example, if we get 100k users on Kudi, a small amount will become available, and so forth. This way our initial circulating supply is very low and the raise is also very low. But we are incentivized to be successful. Are there any rewards for staking in the future? Ian — Yes, we are devising very exciting staking model which will be quite beneficial especially in the early months after TGE. We have another article on that coming out later. Would there be some type of reward or bounty-based system to incentives people to trade on the Kudi Exchange once it’s live? Ian — Yes we are actually working on a bounty program now to reward people in FRM for referring people and using the app.
We will also have a built-in referral reward system into the app which will reward people in actual Naira (Nigerian currency). BTW, the Kudi Exchange app is going live publicly the week of the 20th! When will this article be ready regarding the staking? Ian — Staking will be finalized a little closer to the public sale. There’s a lot of moving parts and we want to make sure we get it exactly right rather than prematurely rush out a non-optimal structure. Thank you Ferrum team and all participants for your time and effort here. We are looking forward to see the project develop the coming months and hopefully all goals will be achieved the coming year(s).
Coin Dance portal conducted a study of the legality of Bitcoin in different countries of the world and reported that the first cryptocurrency is completely legal in at least 111 countries around the globe. Analysts noted that among the 20 most often used national currencies in trades between fiat and Bitcoin, only 3 countries do not give Bitcoin legal status. At the same time, Nigeria is in 15th place, in which Bitcoin is not illegal, but is not completely legal. Over the past 24 hours, the volume of transactions with Bitcoin and Nigerian Naira amounted to 0.03% of all transactions with the first cryptocurrency. The Indonesian rupee is in 10th place, although Bitcoin status is considered to be “limited” in Indonesia.
At the 18th place, we see trades with the Vietnamese Dong. At the same time, in Vietnam it is legal to trade and store Bitcoins, only the use of cryptocurrency as a means of payment is prohibited. Analysts also stressed that Bitcoin is outlawed in only a limited number of countries. The list includes Afghanistan, Algeria, Bangladesh, Bolivia, Pakistan, Qatar, Macedonia, Saudi Arabia, Vanuatu, and Vietnam. The status of “limited” Bitcoin received in nine countries, but they included such major markets as China and India. Researchers explain that in most of these countries they simply did not determine the official status of cryptocurrencies. Note that at the beginning of the year, the Chinese Cyberspace Administration (CAC) introduced new standards to regulate the blockchain-based companies operating in the country. The rules, which will come into force on February 15th, should promote the healthy development of the industry. Freelance Journalists/Writer and Crypto enthusiast.
A quick look at the Naira shows how the currency has been losing its value consistently over the past years. With that in mind, it’s no surprise Nigerian entrepreneurs would rather deal in Bitcoin than their own currency. One example is Silas Okwoche, co-founder of Nerve Mobile. The self-taught engineer was purchasing Android smartphones from China via Alibaba. However, when the Nigerian Naira fell over 15% against the Chinese Yuan, his venture came to an end. While Nigeria’s adoption of cryptocurrencies might not be news, it is still interesting to see how people come up with creative ways to use them to ease their lives. Nigeria’s Central Bank might’ve called Bitcoin a gamble, and even warned against investing in it, but that hasn’t seemed to deter young entrepreneurs from pursuing their dreams.
In a two part series, I will be baring my thoughts on how the census problem bedeviling Nigeria might be solved by using the technology behind Bitcoin crypto-currency. Bitcoin as a crypto-currency has failed. 2008 and launched on the internet in 2009 for the purpose of processing payments that are neither controlled by any bank or government. 2. That a new block(more on this later) has been created and pushed into the blockchain (more on this later). The interesting mathematical computation that all the computers engage in is simply this, given the target 256 bit hash reached through a democratic consensus by the participating computers, find another 256 bit hash that is smaller than the target. Once a 256 bit hash that satisfies this requirement is found by any participating computer through a process called mining, voila!
A block is a data structure consisting of two essential parts namely, the block header and the transactions. Before a block finally rests somewhere in the blockchain, a number of interesting things happen. Remember I said that a block consists of the block header and the transactions. Now transactions ,in the language of Bitcoin original construct, consist of all bitcoin related payments generated between the last time the last block was created and now that a new one is created. So all these transactions awaiting the arrival of a new block will happily find a new home to repose forever. There is something called the Merkle root in a block header, it is a hash as well, that is constructed from the hashes of all the transactions that has been placed with a block.
This means that if you start at any given block in the blockchain, you can trace back in time all blocks that precede the one you started from. This is one of the great strength of the Bitcoin technology because its makes it really difficult to falsify a block and inject it into the blockchain. According to the Guardian News website, a blockchain is essentially an incorruptible ledger of blocks of data, and that data can be just about anything. So then, how can the blockchain technology be used in solving, the Nigerian census problem? One of greatest problem of the Nigerian census, is keeping a valid database of information about the Nigerian populace. Over 170 million plus records of individuals, consisting of birth certificates, banking records, family relations, educational data and any other desired information about an individual can not sit on a single computer or even a VPS. This poses a greater risk of losing the entire thing in a flicker of an eye, the solution here is not about purchasing the largest storage or even outsourcing to large companies. The solution is a Robust Distributed Storage, pretty much like the blockchain of Bitcoin.
Last week, social networking giant Facebook announced that it plans to create what it calls an “alternative financial system” based on a cryptocurrency called the Libra. The crypto will be backed by a basket of currencies to keep its value stable. Pundits immediately pronounced that the Libra could represent the beginning of the end for traditional banking. But while Facebook’s plunge into this space is the most ambitious effort by a Fortune 500 company to profit from the crypto market, the company hasn’t exactly done a stellar job of protecting user data. That makes me skeptical of its ability to safeguard your money. Last October, Facebook announced that hackers had compromised more than 30 million accounts by taking advantage of vulnerabilities that have now been patched.
A month later, researchers uncovered a vulnerability in Facebook Messenger that hackers could use to reveal the identity of the people with whom you exchanged messages. And who can forget the seemingly innocent quizzes that were used to gain access to 50 million Facebook accounts in an effort to affect the outcome of the 2016 presidential election? It’s one thing to load photos of your cat doing stupid tricks onto your Facebook account. It’s quite another to trust the company with your money. Although Facebook says that Libra’s governance model will ensure “separation between social and financial data,” I suspect Libra will appeal mainly to people who don’t have bank accounts and have no practical way to open them. Facebook cited a figure of 1.7 billion adults in this category, with nearly half of them living in Bangladesh, China, India, Indonesia, Mexico, Nigeria, and REGISTER.BET9JA.COM Pakistan.
Still, the launch of the Libra is a proverbial shot across the bow for the banking industry. And it couldn’t come too soon. Our global financial system is built on the flawed foundation of a poorly understood concept called fractional reserve banking. Five hundred years ago, if you owned valuables you didn’t want to store at home, you could keep them in a secure warehouse. You gave the warehouse-keeper a sealed bag and received a receipt for it. You paid the warehouse-keeper a fee for keeping the bag safe. So long as the warehouse-keeper didn’t run off with your valuables or let someone else steal them, your wealth was secure.
Not all depositors, however, insisted on receiving the same bag of valuables back from the warehouse-keeper. They were satisfied to receive back equivalent value. Depositors could now use the receipts warehouse-keepers issued as a medium of exchange. Warehouse-keepers soon realized that not every receipt would likely be redeemed simultaneously. So they began lending out a fractional reserve of the stored valuables in exchange for interest payments. In this manner, warehouse-keepers evolved into interest-charging fractional-reserve banks. The biggest risk of fractional reserve banking is, of course, the “bank run.” If a bank lends out too much of the funds on reserve and everyone wants their money at once, the bank won’t be able to pay everyone. Deposit insurance schemes evolved in the 20th century to shield bank customers from this possibility.
As a result, bank customers in most countries treat their deposits, including those that are uninsured, as if they’re 100% backed by actual reserves. Then came the 2013 Cyprus financial crisis and the collapse of the country’s banking system. Bank regulators around the world quickly took notice, and by the end of 2014, decided to extend the bail-in model worldwide. Deposits in banks that are “too big to fail” will be “promptly recapitalized” with their “unsecured debt.” This avoids the taxpayer-funded bailouts that proved so politically unpopular during the 2008-2009 financial crisis. And the largest chunk of unsecured debt is your bank deposits.
Insolvent banks will recapitalize themselves by converting your deposits into stock. Historically, in return for the risk you take by exchanging your hard-earned money for an IOU (and now, the threat of a bail-in), fractional reserve banks paid you interest. Three decades ago, for instance, you could earn 4% or more annually in a domestic passbook savings account. Those days are long gone. You’d be hard-pressed to find a domestic bank that pays more than 0.5% on ordinary checking or savings accounts or a little more than 2% for a certificate of deposit. Indeed, many banks outside the US offer negative interest rates to customers. In effect, you’re paying the bank to lend out your money.
In other words, in return for very paltry interest (or even negative) payments, your bank lends out the money you deposit in your bank account for whatever purpose the bank (and the agencies that regulate it) deems acceptable. And if the bank makes enough mistakes, your savings could be bailed in. Facebook’s Libra won’t fundamentally change this system, because customer deposits will be stored at traditional fractional-reserve banks. But many other organizations already offer alternatives to traditional banking. And if you look hard enough, you can often bypass banks altogether. You no longer need to go to a bank to borrow money; peer-to-peer services such as Lending Club instantly match borrowers with investors with money to lend.
Need to make or receive payments without a bank account? You can use Bitcoin or other cryptos to do that; Libra will just be one more. Indeed, an avalanche of product launches to woo depositors away from banks is coming. Management consultancy Bain & Company predicts that a banking service from Amazon could gain 70 million customer accounts within five years after launch. That would give it the market clout of Wells Fargo, America’s third-largest bank. Not to mention the rapidly growing market penetration of e-commerce platforms like Apple Pay and Google Wallet. Facebook, Amazon, Google, and Apple haven’t exactly done a great job of protecting user data. But traditional banks aren’t doing much better - a recent study from security consultancy Positive Technologies revealed that more than half of banks with an online presence allow fraudulent transactions and theft of funds. But security is likely to gradually improve, and Timmy Gallegos the tech giants will provide much-needed competition for what was for many years an effective payments monopoly by fractional reserve banks. I look forward to the day when the fractional reserve banking system takes its last breath. If you’re tired of dealing with soaring banking fees, stifling compliance requirements, or the threat of “de-risking,” you have reason to smile. In the not-too-distant future, banks will be obsolete.
I am wary of any opportunity to make easy money in Nigeria, as experiences have taught us to avoid get-rich-quick schemes, or face the ultimate certainty of losing your investment and profit. Schemes like MMM, Diamond Cash Club etc. lured Nigerians into investing by promising to generate huge returns without any justification or reason for the perceived boom until the burst of the Ponzi scheme. Similarly, Bitcoin has experienced a boom in Nigeria but unlike Ponzi schemes, Bitcoins are still in use and accepted. In Nigeria, Bitcoin adoption was in response to the 2016 financial crisis, which limited international trading due to the insufficiency of foreign currencies. The common factor for Bitcoins in both Nigeria and the USA is the isolation from financial crisis and that it serves as a great medium for exchange during these times. The implication of this trend is that while currencies are at the risk of government interferences, Bitcoin does not follow this trend. Thus during financial instability Bitcoin becomes more viable in the country. In Nigeria, Bitcoin primarily serves as an alternative investment opportunity that is not under the influence of any economic pressures or uncertainty. The great thing about Bitcoin in Nigeria is that it is easily accessible and with the use of a debit card or bank transfers, users can easily purchase or sell Bitcoins at their convenience. For more information, visit Luno for details.
The best and simplest definition for Bitcoin is this “Bitcoin is Money”. Yes, Bitcoin is the money of our generation and the future generations. Well, in the history of money, several object has been used to carry out transactions. Money in itself is any clearly identifiable object of value that is generally accepted for payment of goods and services and repayment of debts within a market or which is a legal tender. Bitcoin fulfills all of these. In the past, money has taken many forms like cowry shells, beads, precious metal, paper, and in our generation it is becoming digital in form of bitcoin and other cryptocurrencies. Bitcoin is digital money; this simply means that unlike the previous form of money, Bitcoin is not anything physical.
It is not physical yet more real than any form of money earlier used. It exists on a technology called Blockchain which helps to store all the information and transactions about all the Bitcoin that ever exist. The information on Blockchain can never be destroyed or manipulated. Also Blockchain cannot be controlled by one central body or government, making Bitcoin the best form of money to ever evolve. With Bitcoin, you are simply your own bank, as you can spend your money anytime, anywhere, with no restrictions whatsoever. Recently Bitcoin has gained more popularity in the world, and even in Nigeria, people now choose to send money to their families and friends using this unique form of money. Young men and women working online now prefer to receive payment with Because of the advantage it has over ever dropping value of naira.
With this new form of money (Bitcoin) gaining popularity and acceptance around the globe, how can you as an individual benefit from it? I have tried to list a few ways to get you started. Buying and selling bitcoins is probably the fastest and easiest way to try and make some money with bitcoin. Just like the stock market, bitcoin trading involves buying at a low cost and selling when the price has gone up. 10-100 per bitcoin value. Bitcoin like gold is scarce, this is due to the finite or limited supply of Bitcoin, Timmy Gallegos there are going to be only 21 million Bitcoin ever.
With bitcoin you can invest for the future. For Nigerians, register.bet9ja.com Bitcoin can serve as a high profit investment, Timmy Gallegos due to the behavior of the Nigerian Naira in the foreign exchange market. 220 on the black market. 1,078,550. Can you imagine the profit margin. 1. First you’ll need a bitcoin wallet - an app that lets you receive, hold, and spend bitcoin. 10 worth of bitcoin without no extra fees. 3. For day trading, open trading accounts with some of the major foreign bitcoin exchanges and load it with Bitcoin funds. This will allows you to trade bitcoin directly with other fiat currencies such as USD,EURO,GBP.
There has been a lot of buzz lately concerning cryptocurrencies such as bitcoin? Each and every day has seen its own fair share of looming questions about what it really is, what its advantages are and how profitable and beneficial it really is. Over and above that there has been a growing traction in the media regarding cryptocurrency as a potential investment vehicle. So what exactly is cryptocurrency? Simply put, it is a digital medium of exchange that secures and regulates the processes that are involved in generating units of currency, conducting transactions and verifying the transfer of funds by using encryption techniques. Quite frankly, when put in direct comparison with the current traditional currencies system, the cryptocurrency happens to be far more efficient in terms of both usage and transaction costs. How do Bitcoin work? The basis of the creation of these currencies is often a mathematical formula.
In the mining of the currencies, the computers are often supposed to solve complex mathematical problems and then get rewarded with virtual coins. However, the supply of new cryptocurrencies slows down progressively with the complexity of the equations which often become too difficult to solve. An alluring yet defining feature of digital currency is the fact that it is immune to government interference and manipulation seeing as it is not issued by any central authority. What can you do with Cryptocoins? A study done by Technavio research analysts in 2014 stated that the global cryptocurrency market grew by about 622.7% from the previous quarter.
Bitcoin which happens to be the most liquid cryptocoins can be readily exchanged into US dollars. You can use crypto coins to buy physical goods. Computing giants such as Microsoft have accepted the use of Bitcoin as one of the payment options for a variety of digital content across its online platforms. The giant computer technology Dell in July 2015 accepted the use of Bitcoins to purchase items and get a 10 percent off on high end purchases done using Bitcoin. You can also buy furniture, jewellery and electronics from overstock. Digital currencies have the capability of working well both in large or small scales.
There is pseudonymity in that owners of the currencies have the luxury of keeping the digital coins tucked away in an encrypted digital wallet that they have full control over. They are purely digital and cannot at any one point be counterfeited. They do not have any transaction fees since the miners are often paid by the network. They minimize the occurrence of identity theft in that, you only send the merchant what they need with no further information. It is highly accessible seeing as there are about 2.2 billion people who not only own mobile phones but also have access to the internet but may not necessarily have access to traditional exchange systems. It is operates on a user-to-user basis without any centralized authority hence minimizing the chances of manipulation and interference. It can be used at an international level due to the fact that it isn’t bound by exchange rates, interest rates, transaction charges or any other charges of any country.
President Trump's Criticism of Bitcoin in his recent statements have largely been focused on the use of Bitcoin and other Cryptocurrencies to fund illegal drug activity including darknet marketplaces and organized criminal entities and drug cartels. On this singular issue, US President Trump is 100% Spot On. We MUST put an immediate end to this practice and stand together as a community to ensure cryptocurrencies are never used to fund illegal drug activity.bit.ly So How exactly can this be accomplished? It's seemingly a tall task given the efficient and fluid nature of how cryptocurrency operates. But there is one single solution that will guarantee to us and the world that cryptocurrency will NEVER be used to fund a single transaction or transfer involving any form of illegal drug activity.
Ending the War on Drugs would be a massive undertaking which would require coordination at the state, local, and federal levels of government, in addition to international cooperations. 1st Step would be to overturn the archaic and draconian laws at every level of government which make it a criminal act for someone possessing, using, selling, manufacturing, or transporting drugs and/or paraphernalia. Ending this war would require the overturning of all convictions of non-violent drugs offenders and would call for their immediate release from jails and prisons both state and federal. Except this time, it's no longer 'illegal drug activity' like Trump has explicitly stated. It's now more accurately referred to as 'non-criminal drug activity' and Bitcoin is perfectly fine funding these activities.
From the inception of Bitcoin, different exchanges have come with different creative teams and ideas like the development of cross-chain architecture and Dual-Ledger Byzantine Fault-Tolerant Consensus (DLBFT) features. 473 million to scam can’t be so forgotten any time soon, which cost the Company its existence. In creating an exchange or OTC market place, there are so many factors that a company that wants to succeed ought to put in place in order to meet the expectations of future users. Any Crypto trader would always want any exchange / OTC Market Place having these features for better trading. And spice it up with a wonderful trading app!
Putting all these features into consideration, one can confidently say that CoinCola is the best option for Register.bet9ja.com any trader right now in Nigeria. Are you looking for a crypto market place that allows P2P trading without constant news of cheats and scams? CoinCola Exchange has been well created and established for the trading of digital currencies that includes Bitcoin (BTC) and tether (USDT) as the basis with Ethereum (ETH), Bitcoin Cash and Litecoin (LTC) supporting it. Why is CoinCola Different? CoinCola is a product of a dedicated, hardworking and creative team members and advisors. Go to Buy Bitcoin In Nigeria page at CoinCola and see which guys are selling bitcoin.
In actualization of this, the team has successfully put in place these measures to ensure for smooth trading experience.tinyurl.com Security has become one of the most feared challenges in the Crypto Exchanges. As earlier stated, some major exchanges have been hit by hackers in the past, causing loss of funds reaching into millions of dollars on the part of both the exchange and Timmy Gallegos the investors. In some cases, some of these exchanges could not handle the loses, thereby ends up bankrupt. Trading in CoinCola comes with an added advantage of the easy, fast and less complicated platform. Going with statistics gathered from other exchanges, if one attempts to compare Coincola’s fees with that of other exchanges, that of CoinCola is indeed far much better.
Hence, in the long run, traders stand to regain a lot of profits that could have gone to fees In terms of transaction fees, CoinCola charges 0.5% of the value of the transaction. And if it is looking directly from the withdrawal fee, CoinCola charges 0.0005btc for outgoing transactions and nothing for transfers to other users of the platform until a certain limit. That’s not all, for sending of BITCOIN to other users in the platform, CoinCola takes absolutely nothing from you as long as it measures the expected transfer of 0.5btc a month. If I am to quote CoinCola rightly, “We value our customers and pride ourselves on providing excellent customer service”. And that has not been just about flattering words.
CoinCola has dedicated Customer Care, which renders their services in the most polite and efficient way, with quick response to you as per your service requires, by taking into account every customer’s query.tinyurl.com CoinCola is here to provide you with an easy verification and also maintain the safety of your data used in verification. The essence of CoinCola implementing the KYC process cannot be farfetched. Most investors have been scammed through exit scam and other various scamming schemes. To avoid this, CoinCola has set up the KYC/KML for the establishment of trust and transparency in the blockchain ecosystem. For the accessibility of every platform, the first thing first in every potential user’s mind is an understandable user interface.bit.ly The CoinCola has been built for the users to trade bitcoin and other cryptocurrencies anywhere, anytime from the convenience of a mobile app.