Through its evolutionary process, money has transformed beyond recognition. The medium of exchange has changed over time from commodities to fiat money, from fiat to internet-enabled electronic payments and presently advancing to digital or virtual money. Crypto currencies belong to the family of virtual or digital money.
Crypto currency is digitally created based on advanced mathematical algorithms that use cryptography for security and anti-counterfeiting measure. It is created and stored electronically in the blockchain using encryption techniques to control the creation of monetary units and to verify the transfer of funds. Bitcoin is a good example of it among others such as ethereum and litecoin.
The superiority of crypto currencies that makes them the currency of the future lies in their anonymity – being independent of governments. They are borderless yet secure; they can be used as contracts and they attract lower transaction and remittance charges than what it costs to move money across borders in the real world.
Cost and convenience have been some of the factors driving the evolution of money through the ages. Another is the capability to retain value with time. Currencies that are beaten in these qualities are bound to phase out in the continuing evolution of money. This is the basis for predictions that blockchain technology is progressing to make cash obsolete and remake the global economy.
The world is seeing a whole new platform of online shopping with digital payment services powered by blockchain technology. This is gradually assuming the proportion of becoming the next great upheaval in global e-commerce growth.
Central bankers around the world had looked away from digital currencies in their traditional conservative stance, dismissing them as the purview of speculators and coders. But now that digitalization is gearing up speedily to become the driving engine of global commerce, governments and central bankers can no longer afford to close their eyes to a force that is continually sweeping tradition and restrictions in the use of money out of relevance.
Lael Brainard, Federal Reserve governor noted recently that the “potential for digitalization to deliver greater value and convenience at lower cost” has piqued the interest of the US’ monetary system. He said Fed is investigating the possibility of issuing its own digital currency – one big step forward from apparent resistance to official embrace of digital currency. This appears to be a notable sign of how the world has changed and where it is headed.
Nigeria is not left out of the blockchain technology that is set to play a dominant role in the world of finance. Nigeria’s tech companies are leading the rise of world-class digital currency exchanges that are powering the future of crypto finance. They are harnessing the power and advantages provided by blockchain technology, providing platforms to empower people in the knowledge of the new technology and crypto currency in Africa.
Seeing the world advancing unstoppably into digitalization, these tech specialists are the firsts to venture out with the changing world, thereby pioneering the great innovation in Nigeria and Africa. By their unveiling of a whole new world of opportunities, Nigeria has emerged a fertile market for crypto currency, already having the highest number of traders of crypto in Africa.
The top 10 names in crypto in Nigeria constitute the captains in the knowledge of blockchain technology and crypto currency in Africa. They are the people setting the pace and configuring the digital space in which the 21st century world of commerce and finance is to run from this part of the globe.
Among them are software and hardware wizards laying the channels and extending the networks for safe and convenient flow of digital money. Some are innovators and developers of tools and facilities to bridge infrastructure gaps and advance the pace of blockchain technology in Nigeria and Africa.
Some of the innovators have developed native digital wallets that support crypto and cash in response to strong organic demands for digital currencies coming from Africa. They are doing a lot to advance the pace of this movement, linking up masses of people to limitless opportunities in the emerging borderless, digital economy.
They are in the forefront of setting the tempo in terms of blockchain and general ICT services through innovative solutions. They run the well-established and dependable exchanges for crypto and fiat currencies. Among them are found Africa’s foremost borderless digital financial platforms and the fastest growing tech companies and bitcoin brands in the continent.
Others are the key drivers of blockchain consumer loyalty adoption in Africa, matching technology with innovation; the generals in bitcoin and crypto trading education in Nigeria and beyond; the most simplified digital currency trading platforms for mass inclusion into the crypto value chain and leading innovators in creating alternative windows for foreign remittances at reduced charges. The Top 10 Most Influential People in Crypto Nigeria emerged from critical tests for their reach in touching lives, shaping a novel market as well as their ability to navigate through the challenges in the business at which many have stumbled.
Gaius Chibueze – CEO, Abit Network
Mr. Gaius Chibueze is managing director/CEO, ABiT Network – a blockchain creative solutions brand on a mission to empower people with the right knowledge of blockchain technology and cryptocurrency in Africa. He is a serial entrepreneur and one of the reigning and influential names in cryptocurrency in Nigeria.
Popularly known as bitcoin chief, he is focused on helping people understand and easily use blockchain powered solutions, setting the pace for the rise of smart, 21st century investors and traders, who will be at the forefront of blockchain innovation.
Chibueze is Nigeria’s pioneer investor in bitcoin and also the brain behind ABiT Mobile Applications Limited, a global tech company. ABiT Mobile Application Limited, established in 2018, comprises many brand but notable three are ABiTrader App Platform for Learning, buying and selling cryptocurrencies; ABiTCrowd Real Estate App – a fully decentralized crowd-funded real estate company and ABiT Discount Shoppers, which is a decentralized e-commerce platform operated at big discounts.
He also established ABiTrader Cryptocurrency Academy in 2018 and by the third quarter of the same year, he had raised 4,000 successful cryptocurrency traders in Nigeria. Chibueze has successfully led his team in pursuit of one of the most amazing projects in Africa – Tatcoin with the introduction of various marketplaces that harness the power and advantages provided by blockchain technology.
He is passionate about helping people maximise the enormous potentials of the internet and how they can sell anything to anyone using the power of the new media. He has trained over 13,000 persons, who are currently making a living by trading bitcoin and other cryptocurrencies from the comfort of their homes, using the smartphone.
ABiT Network has rolled out a number of products while a lot more are yet underway. ABiTrader is a simplified system for people to learn and trade cryptocurrency from anywhere, using the mobile phone.
ABiTTFarm is an agro business-based generational product that guarantees good returns on investment. ABiTCrowd is a simplified real estate investment that makes it possible for people to invest in real estate online with as low as $15. Tatcoin is the native token for the ABiT Network that serves as the transactional currency for all of ABiT Network’s products. ABiT Go is a travel product that guarantees easy, affordable and memorable trips. ABiT Play provides a game and entertainment platform where people can catch fun and earn money doing that. ABiTPay permits users to make instant transactions and spend their crypto on the go with lifestyle and luxury cards.
Other products in process include, ABiT Discount ShopApp that permits up to 30 percent discount on purchases and also earn money by signing up as a delivery agent. ABiT Charity will use blockchain technology to make philanthropy more transparent and decentralized.
Also on the way is ABiT Skills Mart – which is a digital learning academy that would connect the best candidates to well-paying digital jobs where they can work remotely and earn a living. Another product on the way is College Situation, which is an interactive app that connects students with schools, scholarships and fellowships abroad.
Tatcoins whitepaper was released in the first quarter of 2019 with CEO’s promise to deliver on it. ABiTrader and ABiTCrowd web applications were launched in the second quarter and by the third quarter ABiTCrowd web application recorded 3000 users while ABiTrader platform attained a record of 5000 paying subscribers.
The company created tatcoin – Africa’s own utility token for the continent tradable for the cryptocurrency market. It serves as the core transactional currency of the ABiT Network. The utility token focuses on simplifying payment processes for goods and services. It is made available to every user on the ABiT Network.
Tatcoin was created as an ERC20 token contract and minted on the Ethereum Blockchain with a total supply of 200 million tokens. Up to 35 percent of the total supply is set aside for public sale/IEO sale, and 12 percent is allocated for sale in the pre- public sale campaign and 5 percent is for the seed sale.
Seed sale was carried out at the end of last year with over $100,000 raised. Pre-public sale for the token ended in June 2020 and was sold at 3 cents on ABiT Network. Listing of tatcoin was done on over 7 exchanges including popular Uniswap.
The new cryptocurrency is designed to serve in three dimensions – a utility token for the ABiT network platform, a reward token for tasks on the company’s ecosystem and to be accepted by other vendors as a utility currency. Chibueze sums up his company’s purpose in all the grand pursuit. “At ABiT Network, we are always looking for smart solutions to prevailing issues in the economy”.
Tatcoin therefore serves as the capital and value estimation of ABiT Network from investor’s standpoint and in case of value increase over a long time, it will be a huge reward for all that believe in the project and bought some token at the early stage.
Many investors are therefore persuaded to buy it presently to help them build a safe investment in an uncertain market. Using the token on the ABiT platform is on discounted rates on the company’s product and services.
The company’s programmes for next year include installation of ABiT Network free wifi in tertiary institutions across Africa, launch of ABiTPlay, unveiling of ABiTPay, ABiTMove and ABiTLoans. A reality TV show of ABiTGo is also planned for next year with the aim of promoting tatcoin use cases to small, medium and large scale businesses across Africa.
ABiT Network recently rolled out a central system deployed to server users better. The new system allows both new and old users to access the company’s platform with a single click. It is designed to make it easy for users to connect and have a feel of the entire platform with one login details, according to the company.
Chibueze said the new system has the capacity to handle logins, transactions and user management across all ABiT Network applications. The company is implementing gradual feature/product integration across all ABiT Network products, according to Chibueze. This would permit login to all ABiT Network products with one unique login details without signing up again if they already had an account on one.
Franklin Peters – Founder/CEO, Bitfxt Technologies Ltd
Mr. Franklin Peters is founder/CEO/chief strategist at one of the fastest growing blockchain companies in Africa: Bitfxt Technologies, a registered trademark of Bit4value International Limited. He is an e- marketing business consultant and blockchain expert with years of experience, he is known as blockchain oracle in the crypto community. He started his career as an internet marketer and software developer in 2008 and has emerged as one of the leading developers and internet marketers in Nigeria.
Peters is also a computer scientist and the founder of Peters Consults Initiative, a brand that provides blockchain education, start-up consultation, business idea development, start-up funding, financial intelligence coaching and general mentorship.
Peters wrote the algorithm for the first peer2peer IEO startup launchpad, he most transparent and secure way to raise funds through initial coin officering in the e crypto space.
Bitfxt is a technology company that provides digital services to users and an online exchange for trading cryptos at low fees. The company’s operational strengths are counted in low trading fees it offers, instant deposits and withdrawals, low coin listing charges, a rewarding affiliate program and solid international partnerships.
Safety is also counted a key operating advantage of Bitfxt in a market that is laced with a number of risks and challenges. Being one of the well-established and fastest growing blockchain companies in Africa, it stands out as a dependable exchange for crypto investors from anywhere in the world to buy and sell cryptocurrencies conveniently in a fast, secure and affordable exchange for fiat currencies like naira and dollar.
At Bitfxt Technologies, Peters has set up a decentralized team of over 15 technology and finance experts, operating across several countries and continents.
The company is driven by its conviction that decentralized digital currencies like bitcoin and ethereum will change fundamentally how the world views and uses money. The driving forces of change consist in the quality of the digital currency market – cheaper, faster and safer transactions; increased privacy and freedom; a significantly better user experience and ultimately, equal access to everyone in the world to the same financial system, no matter who they are or where they come from.
Cryptocurrency-based solutions in Nigeria range from digital exchange platforms to payment gateways and trading education platforms. With more and more people joining the digital currency stream, new crypto solutions are being created to meet the needs.
Other startups in the Nigerian crypto space provide digital exchange services. However, Bitfxt’s solutions go beyond the traditional exchange platforms. Bitfxt Technologies has developed a wide array of cryptocurrency solutions for users of decentralized digital currencies. Through its products on offer, the company is building a large community of users, who are leading the way into the emerging world of digital currency.
In partnership with several financial institutions, Bitfxt is currently working on a new project called BOUNDLESSPAY APPLICATION. Boundlesspay is a decentralized finance (DeFi) system that permits transactions globally with no limitations. The app turns the telephone handset into a mobile bank. This creates access to a digital wallet for users, thereby enabling them to store and spend cryptocurrencies with ease.
WIthboundlesspay, digital assets users all over the world can send and receive money, pay for utility services, take low interest loans with crypto collateral, participate in mutual funds, invest and save for a descent annual interest, trade and spend their crypto currencies in real-time using BPay ATM card. He is on a great mission – to empower billions of people around the world by bringing digital currencies to everyone, everywhere by revolutionizing the way people use money.
The product was built on the company’s blockchain and stands as one of the first blockchains with aim to unite several FinTech applications through its technology.
Mr. Peters is not relenting, He is upgrading infrastructures to complement existing financial networks in readiness to unleash new dimensions of solutions in the African crypto space. From the infrastructure upgrade, Peters expects that Bitfxt will make it possible for people to receive payment in US dollars as well as settle payments in either US dollars or naira. Users of Boundlesspay will have options of settling in US dollars or naira through the startup’s portal and also earn in US dollars locally.
Adekunle Daniel – Founder/CEO, Blockstale Nigeria
Mr. Adekunle Daniel is founder and managing director/CEO, Block Stale – a blockchain startup that focuses on the use of intuitive software and hardware components to solve real time, global financial problems. He is the inventor, designer and developer of the first ever bitcoin Automated Teller Machine in Africa.
Daniel began trading digital assets as far back as 2009. His experience as a trader made him enthusiastic about digital assets. As he sees the world advancing unstoppably into digitalization of everything, he saw it as a great opportunity for his outfit to scale up.
He ventured into pioneering the great innovation in Nigeria and Africa on some solid convictions. In his view, Nigeria is a fertile market for crypto currency and already has the highest number of traders of crypto in Africa. “Bitcoin is the only financial instrument that can transform any economy positively now.
“Blockchain technology is the most secure innovation that the world is about to experience. We developed our system using this technology; so it is 100 percent guaranteed”, he said.
Daniel sees the digital currency as the preferred currency of a digitalizing world. He considers the features of bitcon in terms of operating independently and being usable for all business transactions globally as the fitting currency of a transforming world.
According to him, the currency is already functioning in the United States, China, Japan, the United Kingdom, Canada and other developed countries as a means of payment and settlement. He is pressing that it should be given a legal tender status in Nigeria. “If bitcoin can be instrumental in these countries, how much more in Nigeria where there is little or no infrastructure”, he said.
Counting the benefits associated with bitcoin, the inventor said it operates on lower charges, eliminates money laundering, allows for cryptographic proof in lieu of trust, eliminates unnecessary spending and reduces the need for printing of traditional currencies – which induces inflation.
The inventor was challenged by the fact that while Nigeria has the largest number of crypto currency users and traders in Africa, it had no bitcoin ATM. The situation, he said, had negative effects on most of the international transactions done by Nigerians. The infrastructure gap created room for some vendors with ill intentions to take advantage to cheat vulnerable traders, Daniel said. “That is why I took it upon myself to design the bitcoin ATM to build trust among traders.”
Daniel has attained a great milestone in pursuit of his vision for official endorsement of crypto currency in Nigeria with the invention of bitcoin ATM, specifically tailored for Africa. He said the ATM simplifies what bitcoin really is by providing users a seamless, secure and convenient exchange between the naira and bitcoin without any fear of getting scammed.
The young entrepreneur, who is pioneering this great innovation to enhance business in Nigeria and Africa, sees great potentials for Nigeria’s economic development with the embrace of bitcoin in the country.
Going by the estimated trading volume of about $60 million in crypto currencies by Nigerians during the economic lockdown, Daniel is convinced that the digital currency represents a strong growth driver for the economy.
“This means that Nigerians have been busy trading and cashing out on crypto currencies while some businesses were shut down. So crypto currencies have been instrumental and will be to our growth.
“In this hard time, bitcoin is the only financial instrument that is possible of transforming any economy positively, also serving as an investment too for both the banked and the unbanked”, he said.
The Bitcoin Teller Machines [BTM] can be used to buy and sell bitcoin, according to Daniel and only bitcoin can be traded presently. He explained that anyone with a bitcoin wallet can walk to the nearest BTM, select buy bitcoin and click the amount desired.
The process requires the user to scan the bitcoin wallet (from the phone) on the machine and then put the cash notes equivalent of the intended bitcoin purchase in the slot.
Daniel is hoping to see his innovative yield proper regulations or framework for official recognition of crypto currencies in Nigeria. The CBN ranks crypto currencies as commodities, not legal tender. For Daniel, that literally means there isn’t a law that governs crypto operations yet in Nigeria, which he said, leaves trading the currencies at the people’s own risk.
It is in consideration of such a precarious situation that Block Stale has taken it upon itself to develop a user-friendly, secure and advanced device that guarantees trust and transparency in every operation.
TheBTMs are built with special considerations given to the concerns of the Central Bank of Nigeria, according to Daniel. “We are neither a bank nor a financial inclusion organization, we are operators and vendors and our machines do not accept bank cards, only fiats [naira],” he said.
Daniel is quite confident that the crypto currency revolution would soon catch on with Nigeria. He expects the present official hesitation to give way with time. “Just as the internet came, people were skeptical, so every new technology comes with critics”, he said.
No doubt, the unveiling of the BTM in Nigeria appears to have registered in regulatory quarters that the move towards digital currency is unstoppable. Daniel is at least seeing some green light of his expectations. “This invention and the little achievement has made the federal government of Nigeria want to set a framework for bitcoin, according to a press release by the attorney general”, he said.
Daniel has a clear demand: that the federal government should make the crypto currency – bitcoin a legal tender in Nigeria.
Yele Badamosi – CEO, Bundle Wallet Technology Ltd
Mr. YeleBadamosi, is managing director/CEO, Bundle Wallet Technology Ltd – a crypto platform inspired by the success of WeChat in Southeast Asia. Founding partner at Microtraction and formerly a director at Binance Labs, Badamosi is set on the goal of driving mass adoption of digital assets in Africa.
He has launched a social payment app within the Binance ecosystem known as Bundle, which is designed for both cash and crypto. The product is a wallet that promises to make it easy to send, request and receive cash as well as buy, sell and store digital assets such as BNB, BTC, ETH and BUSD.
Badamosi defines a great mission in the crypto currency world and sees it within reach with Bundle. “Bundle’s mission is to create a world where all Africans regardless of their geographical locations, have access to the best, open and inclusive financial services that will improve the quality of their lives and help them achieve their personal goals,” he stated.
Bundle is expected to evolve into a super app with a native digital wallet that supports crypto and cash while at the same time having a number of value-added differentiated services on top of it. Africa is already demonstrating one of the strongest organic demands for bitcoin and digital currencies. Badamosi’s mission is to advance the pace of this movement, ushering in economic freedom and prosperity to all Africans.
In 2019, Nigeria took the lead in Africa among countries with the most interest relative to bitcoin, with South Africa and Ghana following. Yet in Nigeria and the rest of Africa, users do not have access to crypto currencies via exchanges unlike in the West and Asia. A significant percentage of crypto currency deals in Africa is done via peer-to-peer trades, either through informal channels like WhatsApp groups, run by trusted admins with minimal KYC or peer-to-peer marketplaces.
For digital currency to go mainstream in Africa with millions of users, Badamosi defines the way forward as building a product that makes crypto inclusive and useful. For him the task is to enable one app for both the traditional fintech and open finance, thereby letting two previously separate worlds to co-exist in parallel through the power of Blockchain technology.
“That is what inspired us to build this product and try to put traditional money – fiat alongside crypto currencies,” says Badamosi. The layering of cash and crypto trading together spells the uniqueness of Bundle within the crowding crypto platforms. Beyond that, Badamosi said the product is multifaceted in reflection of its name.
The idea, he said, is to bundle together a bunch of essential services for African millennials into a category of cohesive and seamless user experiences. “We knew from the beginning that we wanted to bundle a bunch of essential services, starting, but not ending, with finance,” he said.
Bundle’s target audience is young, digitally savvy and educated consumers with spending power. This is apparently the largest single market in the world. Africa has the largest young population in the world with a median age of 19 and more than one billion people are expected to be born over the next 30 years. Bundle’s target is this majority demographic that will lead Africa’s rapidly evolving digital economy.
The start-up was incubated by Binance, a global crypto currency exchange that provides a platform for trading various crypto currencies. Badamosi, was a director at Binance Labs – the venture arm of Binance, which was established to incubate, invest and empower Blockchain and crypto currency entrepreneurs and communities.
Badamosi’s relationship with Binance – a company that is in the forefront of building crypto infrastructure around the world, gives him an edge within the crypto currency space in Africa. Bundle is therefore leveraging Binance’s infrastructure and is the first of many projects to be incubated within the Binance ecosystem.
Though Bundle operates as an independent entity, it represents a strategic planting on the Binance’s roadmap. Binance provided a pre-seed capital of $450,000 for Bundle in September 2019. “One of Binance’s goals is to drive crypto inclusion on a global scale. Bundle is crucial to achieving this goal,” Badamosi pointed out.
A prospective user of the payment app will be required to sign up with his phone number and receive a confirmation OTP. A registered user will be required to connect his contacts and can transact immediately with contacts also registered on Bundle. Subsequently, users will be able to send bitcoin or cash to people who do not have an account with Bundle.
Bundle is low cost focused with transaction fees as low as 0 to 0.4 percent in the early days. The low cost strategy is to onboard as many users as possible, according to Bundle. It is however likely to be followed by incremental transaction fees on future transactions on the platform as well on the use of some of the features of the product.
Badamosi explains the reason for the low cost engagement. “For what we are trying to build, we can monetise through a variety of ways. We are not going to charge users any fees when we launch because we see ourselves more as a consumer company than a fintech company.”
The plan is for Bundle to onboard over 30 African countries and rake in many users before the end of 2020. The target is to keep the product in contention for the biggest payment application on the African continent.
Bundle promises a serious security configuration on its crypto currency platform in the absence of firm regulations for digital assets. “We have strong KYC and AML (Anti-Money Laundering) checks for all users and will continue to improve and offer the best service to ensure Bundle is not used for illicit activities. Also, since our goal is to drive the adoption and utility of digital currencies, we want to be an inclusive, fun but educative platform,” Bademosi assures.
He runs Bundle with a broad team made of operators and engineers within and outside Nigeria, fit together for building the future for finance and consumer technology in Africa. Badamosi defines success in the endeavour as “having millions of Africans earn a decent income through Bundle and see the platform as something they can’t do without ultimately.”
Gilead Okolonkwo – CEO, BeepMagnet International Group
Dr. Gilead Okolonkwo, chairman/CEO, BeepMagnet International Group that was established with a mission to make a mark in the e-commerce space through Blockchain/e-commerce technology. The company was founded on a trajectory that the next economic wave for Africa would be e-commerce and blockchain-driven solutions.
The company is therefore set on the goal of using blockchain technology as an instrument of solving everyday economic problems. It aims to become the No. 1 Blockchain company in Africa, driving blockchain consumer loyalty adoption.
Matching technology with innovation is its mantra, and creating use cases of Blockchain technology for mass adoption is its mission.
BeepMagnet Group has taken a position to lead the way in Africa by implementing the proof of concept of its blockchain through the integration of its utility token across all subsidiaries to drive the adoption of blockchain consumer loyalty solutions.
The tech company prides itself as a loyalty service provider that is global, decentralized and people-driven for mass adoption. What the company has done is to take the traditional consumer loyalty and reward solutions into blockchain technology.
It designed the BMCToken, a blockchain-based loyalty token reward system that it vouches for as safe, secured, and hack-proof. BMToken reward solution is crafted on the rule of decentralization driven by value exchange, according to the company.
Okolonkwo is rolling out future-focused solutions by thinking deep into what lies ahead. “Beepmagnet innovative approach is the first of its kind in Nigeria. While the banks are still talking about the internet for transactions, we are saying you can do transactions without the internet. While people are still talking about PMD cards, we are talking about wristbands.
To facilitate blockchain adoption, beepmagnet group is focused on practical use cases. In the last 5 years, “we have been building applications and blueprints that will support our community. These use cases cut across the key aspects of the economy”.
– electoral system.
– cooperative mutual financing.
We have carefully applied blockchain adoption through the consumer loyalty of our Token. As you subscribe to any of these services provided by beepmagnet group you get rewarded in BMToken. The following product and services are live.
– We have our sanitary product called sisibox
– we have our ready to eat and ready to cook meal called beepAgro quick ninja soup mix.
– we have our multi integrated e-commerce portal called, Global Empowerment Initiative.
– we have our merchant portal ready.
– we have our health drink called BeepNoni drink launching the first quarter of 2021.
– we have our Mobile game application
– we have a laundry mart.
The above are the use cases that beepmagnet group is offering to the global market. We seek to use our Multi integrated commerce platform to empower 100,000 Business consultants and 10,000 stockists who will leverage on our affiliate business model. This platform supports the following products and services:
– Beepagro soup MIx
– beepNoni extract drink
– sisibox sanitary pad
– GEI revenue share program
– BeepCity leverage program (making it possible with a simple process of becoming a homeowner in our real estate project).
We have also developed a service that will disrupt the recruitment industry. This is called harnessMLM. We hope to use this service to support MLM and affiliate companies globally and create massive employment of 100,000 business executives working with harnessMLM which is one of our subsidiaries. who will be paid in BMToken and cash.
“We have a wristband which is part of our payment system. We are not relenting because we are thinking deep into the future. Our innovation in real estate is that we want everybody to be connected to our cryptocurrency which is the BMToken, whereby when you access a package of the coin, in no time, you should be able to gain access to owning your own property,” he said.
Beepmagnet’sBMToken adds to the movement of decentralizing tokens. It promises a secured network of blockchain users based on Blockchain security and encryption techniques that have stood the test of time. Based on the trust endorsement, the company is setting new frontiers in Africa for consumer loyalty to be secured using BMTokens.
It said the BMToken Rewards solution is built with an evolution model to evolve as Blockchain technology grows into mass adoption. It assures that organizations can count on BMToken Blockchain as secure, decentralized, encrypted, and value exchange-driven.
The group employs a combined affiliate marketing strategy with e-commerce and Blockchain technology to stand out in the marketplace. It promises a fast speed of value exchange of BMCT Blockchain that creates a global inclusion impact on businesses with BMTokens.
Beepmagnet has designed different solutions aimed at leveraging the power of tokens as loyalty points. The possibilities are unlimited, it says, and can open up a whole new world in the retail industry. The expectation is that this would not just be the loyalty points but can also lead to great financial success for both customers and merchants.
The company specializes in developing mobile apps for all platforms – Android, iOS, and cross-platform using robust technology. It uses an agile development method that enables its team to save clients time and money. It has at its command a high capacity of business analysts, design architects, and app usability analysis skills combined with a team of native iOS and Android developers, cross-platform developers, testing, and IT support teams. It is therefore well equipped to provide mobile application development services that enable solutions to real-life problems.
The company also builds Chatbot Systems, which are software programs that perform automated tasks at a much higher repetitive rate than a human would do. ChatBots provide human-like interaction models, which Beepmagnate stands ready to develop and integrate into clients’ projects. The company is also a leading web application development enterprise with professionals that assess clients’ business needs and deliver results above their expectations.
Beepmagnet also provides offline transaction systems based on the NFC (Near Field Communication) technology. This allows devices to communicate with themselves within a short range of no more than a few inches. The technology works offline (without internet data) – which makes the payment experience seamless. Payment or other programmed tasks can then be performed by tapping the medium.
Use cases for the technology include revenue/tax collection, thrift collection/microfinance scheme, event/attendance system, and toll collections. Others include discount/loyalty cards, parking systems, and school cards.
Beepmagnet also serves as a digital marketing agency, taking care of all its clients’ digital marketing services. It promises to be a one-stop-shop for all the brand marketing needs of clients. It leverages digital channels to connect prospective customers to its clients with successful projects delivered over the years.
Fejiro Hanu Agbodje – CEO of Patricia Technologies Limited
Mr. Fejiro Hanu Agbodje is founder/CEO of Patricia Technologies Limited, a company that harnesses the power of cryptocurrency to create alternative solutions to financial infrastructures, digital payments and global e-commerce. The tech company recognizes the potential that Africa possesses in the e-commerce space, crypto currency and human resources.
Patricia Technologies is Nigeria’s premier indigenous crypto currency company acknowledged as the fastest growing bitcoin brand in Africa. It established its first branch in Lekki, Lagos in August 2017. From a small office meant to serve less than 80clients, the firm has blossomed to international acclaim with branches in Dubai, China and Ghana, servicing well over 15,000 clients on daily transactions.
The Warri-born graduate of mathematics and statistics from University of Port Harcourt, governs the multi-billionaire e-commerce company that processed over N10billion in transactions volume in 2019. Fejiro described himself as a goal-getter, a big dreamer and a hard-worker who wouldn’t let any opportunity slip by. He has been an entrepreneur since he was eight and probably one of the most optimistic people around. “Somewhere, I always knew that the dot would connect,” he said. He started Patricia as a side hustle that turned out to be far bigger in reality than the dream. A side hustle to earn an extra N30,000 a month blew up into a multi-billion enterprise. “I think all my failures and trials have been preparing me for this,” he said in an interview.
Patricia has become a leading e-commerce platform that trades unused iTunes, Amazon,and Google Play gift cards and it is arguably the first of its kind in sub-Saharan Africa. It is however a child of a disappointment in Fejiro’s attempt to sell unused iTunes. “I had an uncle who visited Nigeria, who used to give me an iTunes gift card. I didn’t own an iPhone so I literally had no use for it, so I tried to find where I could exchange this for real money. I couldn’t find any local company doing that and I ended up getting scammed of the card. At that point, I realized I had stumbled on something. I figured if I had this problem, a fleet of other persons would most likely have the same problem and that was the birthplace for Patricia,” he said. Fejiro sets out on a mission to create the perfect market to unleash Africa’s potentials in e-commerce and crypto currency world. His goal is to create a safe, secure and interactive space that can usher Africa into the digital age.
At Patricia, he is driven by the will to do the most, to go the extra mile to give the Patricia standard. The company churns out immense customer services from its thriving idea hubs. The business thrives by pushing the boundaries of thought and innovation to the limits. “Doing the most is part of our story. Building user-focused products, finding solutions to problems that have otherwise been overlooked and pioneering new industries have made us what we are today. Our team has worked consistently this whole time to achieve our fundamental goal – becoming the standard of excellence in the bitcoin and crypto space”, Fejiro said. Fejiro is keen to ensure that his company is always on top of the game in the market place – availing customers of the best in class services that make their everyday life easier. Patricia uses the power of blockchain and cryptocurrency to solve every day needs.
The company’s products and services have been crafted to anticipate customer needs and serve them well. “We embrace a customer-first culture and portray a high level of transparency in all our dealings,” the company said. The company’s operations are driven by Team Patricia – a collection of amazing young minds and brains with experience and versatility in every bit of the task. Innovation, service and commitment have been recognized as the three core values of Patricia Technologies. In three years of its operations, the company has been able to build innovative products that are exciting in the marketplace.
It offers a customized Patricia Bitcoin debit card, which enables users to withdraw BTCin cash and avails them an opportunity to spend their Bitcoin. It promises to be the preferred guide in exploring the easiest way to buy, sell, use and spend bitcoin at the best rates in Africa. Gift cards can be traded on the company’s platform from anywhere in the world with cash delivered within minutes. It also offers safe, secure and flexible wallets for storing bitcoin on the platform.
Patricia has taken steps to solve the issue of bitcoin’s volatility by introducing a feature called “Fix” to Africa that never again would users have to worry about global fluctuations and the risks associated with trading Bitcoin. Fix would be one promising feature of crypto currencies that appears poised to succeed where its predecessors failed. It can be pegged to only Bitcoin at the moment. Patricia is positioning it to advance the pace, efficiency and reach of e-commerce.
The company operates a service that converts excess airtime into cash. It provides secure channels to send and receive perfect money, PayPal or Payoneer funds. Other services include day to day use cases for Bitcoin like buying data and paying bills all using bitcoin; And a technological device (Hank) that helps you find your missing valuables with just a click of a button).
Though building user-focused products, finding solutions to problems that have otherwise been overlooked, and pioneering new industries have made Patricia what it is today, they are privileged to connect with thousands of users by educating the crypto-community and enthusiasts through their learning platforms while also providing;
● A secure platform
● Good rates
● Instant payments
● Convenience, and
● Insanely great customer service
It is hard not to get excited about what’s still to come in the nearest future.
Tony Emeka Onourah – Chief Executive Officer, MA media Ltd
Tony Emeka is the CEO of Ma Media Ltd, the firm behind the largest and No. 1 blockchain and cryptocurrency media outfit in Africa. With his vision and foresight in predicting the needs in businesses, he setup CryptoTv plus to give the voice of the media to blockchain firms, entrepreneurs and business leaders help them reach out to the vast market available for their products and services.
Tony Emeka is a media professional with the entrepreneurial passion burning within him has with the launch of CryptoTv plus in 2018, also released several other products/programme such as the Blockchain and Cryptocurrency Awareness Tour (BCAT) which has been able to expose upto twelve thousand Nigerians across the country to the revolutionary technology and its varied applications.
It was launched in 2019. Knowing the effort leaders in the cryptocurrency industry are working tireless to release defining products, Tony also launched the BUIDL Africa program with the singular aim of recognizing, rewarding and appreciating the contributions of entrepreneurs in the industry.
Amongst his several notable achievements are the launch the first ever cryptocurrency focused comic show which is called Crypto Roast. A program which seeks to explore happenings in the industry in comic ways. The program has had record numbers in terms of engagements. Under the leadership of Tony Emeka, the launch of the first ever early morning show that explores the exiting and hot topics in the blockchain industry at every Monday morning by 8:00, an online Radio focused on Blockchain and Cryptocurrency etc.
Mr. Tony Emeka as an individual that has traveled several countries in almost all the continents has brought with him experience, expertise and deep knowledge and commitment to passionately use his skills and competences to continually lead, empower, mentor and guide young people in the achievement of their goals. He has led a record number of individuals under him with impressive results; mentoring young people, empowering them both financially, morally and leadership values.
As a skilled business man, Mr. Tony Emeka has built systems that run without much human intervention. He’s also the Founder of the Emeka Tony Onuorah Foundation, where he caters for the needs of indigent children helping them to return and remain in schools by providing the needed provisions.
Mr. Tony Emeka is currently working on defining products that will take both the local and global cryptocurrency industry by storm.
The Importance of Blockchain and Cryptocurrency in Nigeria
By Tony Emeka
Nigeria is a country rich in diversity and natural resources, but most of its greatness is from its teeming youthful population. The country is the largest black nation by population size in the world and it holds key market for various unique products and services and also presents an inroad into other markets.
Blockchain technology was developed by the individual or group of individuals known as Satoshi Nakamoto.
This invention was the basis of the Bitcoin cryptocurrency which has dramatically redefined the world of finance as we have come to know today. With the creation of the internet, value could easily be sent across the internet with both parties retaining the same quality and quantity of the value sent.
This was a serious issue with the early attempt to create a currency that could run on the internet. This problem was apparently solved by the creator of Bitcoin. The novel innovation that has come to stay and present fascination solutions to varied societal challenges.
As a base layer technology, blockchain technology provides a technological foundation upon which crucial societal solutions can be experimented, developed and deployed. The blockchain technology has the following features which makes them very much suitable and important to proffering solutions to local challenges. These are Increased security, Transparency, Speed, Low cost, efficiency etc.
Nigeria is a country with lots of challenging situations, issues etc and these can be mitigated and total solved by exploiting inherent features in the blockchain technology both in the private and public sector. Blockchain technology holds importance to the Nigerian society and below are some of the ways it can be adopted and implemented in the Nigeria state.
A trusted and unified identity system
Blockchain technology can be implemented to create a unique identifying document that can be used to access all resources of the state. This eliminates the cost of using various access credentials or ID to different systems.
For example, with the adoption of Blockchain technology, a smart Identity System could be created to issue a Smart ID to every citizen and this ID could be used for all activities with interoperability to social services, banking services, healthcare etc.
The blockchain technology can be adopted and implemented in the Nigerian electoral system. There has been clamor e-voting in Nigeria considering the challenges which had arisen over the years due to physically going out to vote. The major drawback to the implementation of e-voting has been not including political will but the concerns over hacking the system and changing voters by and in favour of certain persons.
This concern is largely to a limited extent justified however, blockchain technology presents a fascinating solution to this problem.
With its unique tamper proof inherent feature, records or votes casted by voters in a blockchain powered e-voting system cannot be changed. Voters can also vote from the comfort of their homes and thus eliminates the violence that has been recorded in previous elections, reduce cost and ensure faster electoral exercises. This no doubt works hand in hand with a unified identity system as mentioned above.
Supply Chain Management, Logistics and Anti-Counterfeiting
Across the various industries in Nigeria, there has been at least one record of product counterfeited. This is a serious concern as fake products could be and has been consumed with fatal consequences. Blockchain technology can help to prevent counterfeiting by applying a unique identifier to each product which is easily traceable and verifiable.
This helps to easily eliminate or mitigate fake products on sale in the market. As a technology with public or easily traceable records entries, Blockchain technology allows a simple and efficient inventory tracking solution that anyone from anywhere with the required access (if any) can easily identify the constituent of a particular product, the movement or transit history. This is particularly imperative for traceability and audit.
The reduction in Administrative Cost and Efficient Utilization of Resources
Blockchain technology as an open system, a record ledger that anyone (with the required access) can access, allows for an efficient utilization of resources, reduces time spent on authorization as every record is publicly available and accessible. It uniquely reduces cost of administration by eliminating wasteful intermediaries that could also reduce the speed of execution. In the public sector, especially with the recent distribution of COVID-19 relief, by using blockchain powered solutions, reliefs could be easily distributed across the country with every party monitoring the distribution flow.
Efficiency in Financial System
Bitcoin has proven itself to be a success in its role in ushering the financial revolution. With the ability to send value across the world as a fraction of the cost when compared with traditional financial system, cryptocurrency has proven to be an efficient money transfer system. Also, Blockchain and by extension cryptocurrency can ensure an efficient financial system in the banking sector because it is faster, it records information securely and thus the integrity of banking records cannot be breached.
As a powerful nation, Nigeria also requires powerful solutions to its defining issues. And by adopting blockchain technology, it can no doubt help to promote the nation by reducing cost, improving efficiency and generating more revenue as entrepreneurs begin building globally competitive solutions and businesses around the technology.
Tony Emeka is the Chief Executive Officer of Ma Media Ltd, owners of CryptoTV Plus
Seun Dania – CEO, Tradefada Nigeria Limited
Mr. Seun Dania is CEO, Tradefada Nigeria Limited, a foremost Nigerian digital assets trading platform with a vision to create innovation-driven economic freedom through the promotion of blockchain and cryptocurrency technologies for economic development.
Tradefada is a state of the art cryptocurrency exchange on a mission to solve the insistent challenge faced by Africans to enter and exit the crypto currency markets at the right price by reducing the unbearable margins being charged by most brokers in the industry.
Dania is a graduate of electronics & computer engineering from the Lagos State University with a diverse portfolio that cuts across information technology, oil & gas, agriculture, film making, education and healthcare.
He is an International Council of Electronic Commerce Consultants (EC-Council) Certified Ethical Hacker, a Certified Information Security Expert, VMware Certified Professional, Microsoft Certified Professional, Microsoft Certified Technology Specialist, VCE certified infrastructure associate, amongst others.
He is an ambassador of the Association for Computing Machinery (ACM), a fellow of the Institute of Management Consultants, a Certified Management Consultant, a member of the Project Management Institute, National Council of Childs Rights Advocates of Nigeria (NACCRAN), Association for Childhood Education Practitioners (ACEP) and also a multi-award-winning movie producer.
Founded in 2017, Tradefada boasts a spot exchange with multiple trading peers and deep liquidity unrivaled by any other exchange in the whole of Africa. It has an OTC platform with a high level of security, strict KYC and AML policies in line with global best practices. It promises to maintain the most secure wallets around.
In the few years of existence of Tradefada, Dania has led the company to provide a crypto trading platform accessible to everyone to trade with little entry and exit amounts. Traders may buy and sell bitcoins and altcoins to Tradefada using their bank accounts. The company delivers on its promise of instant, automated payments, 24/7 and dedicated customer support via various channels.
With instant payments for bitcoin sales, Tradefada puts liquidity on the fingertips. Automated withdrawals to bank accounts and instant crypto withdrawals are enabled on the platform.
It provides 24-hour support for users to trade assets globally on a proven fast exchange that permits one million transactions per second. The high transaction capacity makes Tradefada the most actionable digital currency trading platform.
The company has helped incorporate Nigeria’s young and rapidly growing youth population into the blockchain ecosystem, leading to a rise of crypto resellers and traders – who are able to provide prompt services to end users. The financial inclusion through the reseller programme has helped the youth put their time to productive use for decent incomes.
Tradefada runs a business model aimed at mass inclusion into the crypto value chain through partnerships as customers, employees and entrepreneurs by developing real life applications for the average user. The design is to harness talents and improve incomes and living standards across the board.
Dania is also in charge of UNO Homes, a crypto-backed real estate company that aims at providing affordable lease-to-own housing schemes for the average and low-income earners.
Some other disruptive, inclusive innovations from Tradefada that leverage the power of blockchain and crypto currencies are under-collaterized lending and crypto-staking, interest bearing crypto wallets, crypto invoicing and settlements and crypto payment gateways for merchants.
The company’s services are powered by UNO – cryptotoken – which is unique for its low inflation, limited supply, fair launch and distribution. Unobtanium is merged mined with bitcoin, resulting in a secure high difficulty blockchain that is three times faster than bitcoin and known as the “Rockchain”.
The limited supply of UNO is both in the number of coins issued and its fair launch and distribution. It was not pre-mined; the launch was pre-announced on Bitcointalk and is rated fair in that the first 1000 blocks were mined at low reward to provide miners time to configure equipment. There is no POS inflation and no stealth or ninja launch of Uno.
Years after its launch, Unobtanium remains a highly collectible cryptotoken that has held its value. Though not invulnerable to short-term price swings, its long-term price charts show an unparalleled history of growth and value retention. Long-term growth punctuated with short term volatility has made Unobtanium a favorite of savvy investors and traders.
The team at Tradefada isn’t considering developing its own coins or tokens but seeks to leverage and further develop the many valuable projects already on offer. This informed its vote for Uno. Unobtanium is its loyalty coin with multiple use cases in Nigeria and across the world.
Dania truly believes that the only way to true liberation in Nigeria and Africa is through the creation of wealth and prosperity for all in the continent. To him, Africa is the destination for life and business sustainability and Tradefada is a mission to see this come to fruition.
John Chijioke – Founder/CEO Chiji14Xchange
Mr. John Chijioke is founder/chief executive officer, Chiji14Xchange – a leading e-commerce company in crypto currency trading and gift cards exchange he built in a space of two years. The exchange is a key player in the crypto currency space with platforms where traders can exchange digital currencies. His goal is to provide services that will lead Africa into the next generation of e-commerce transactions.
Chijioke is a graduate in mathematics from the Federal University of Technology Owerri (FUTO), Imo State. He began his journey into the hi-tech space at the age of 14 – when he created his first website that provided a forum for tech interactions and webiners for some 200 users.
He came across bitcoin in 2017 when the tech and the number of Nigerians involved in the trade were quite low. People then were getting scammed by bogus traders and exchanges.
Chijioke traded bitcoin for a while using various platforms available. Having discovered the lapses to be corrected and innovations to be introduced, he decided to form his own company. The result was the birth of Chiji14Xchange, which has blossomed to become a leader in the business.
Seeing the great potentials of trading in the crypto currency, he took up the challenge of dealing with the immediate challenges to create a safe environment for the market to thrive. When he was introduced to bitcoin in 2017, 1 bitcoin was worth about $900. Presently, it sells at over $11,741, which is a whopping $10,842 profit.
Chijioke therefore ranks bitcoin above any other asset when it comes to building value for investors. “Stock investments are great if done right but I will choose bitcoin over stocks any day,” he said.
Chiji14xchange has launched a mega product – Rocket, which the CEO said is a solution to the rising demand of credible digital exchange platforms. The product, which is available on the Google Play store and the iOS Aple store, has received the endorsement by users as delivering on promises.
Positive reviews from the users of the product affirm it is an exciting development for the future of crypto currency in Nigeria and Africa. This is a great contribution by Chiji14xchange in changing the negative connotations associated with crypto trading.
With Rocket, Chijioke promises to take digital trading to its height. The offers include immediate payment on completion of transaction directly to the bank account, round the clock facility for secure trading, no extra charges and a large capacity to handle millions of transactions daily.
“I am excited to introduce Africa to the height of digital trading, an unprecedented move that will change the sphere of money as we know it. Rocket is packed with amazing features that put the trader in charge and our users will enjoy the full experience of a practical trading platform,” Chijioke assured.
The platform assures of trading bitcoin and giftcards with ease and maximum security. It is designed for traders to buy and sell bitcoin, have access to secure naira and bitcoin wallets and execute transfers from naira to the bank accounts. Users can also send and receive bitcoin with the maximum security of a 2-factor authentication system and KYC validation.
Traders can fund their BTC wallets and withdraw from their naira wallets. They can also receive, sell and send BTC from the BTC wallet. The KYC verification and 2-factor authentication with Rocket app ensure that transactions are completely safe and secure.
Trading is simplified by permitting up to three registered bank accounts to the wallet system to enable transfers from the wallet to the bank accounts. The all-in-one integrated system of Rocket makes this happen smoothly.
The platform permits users to sell bitcoin &giftcards to Chiji14xchange without signing up. Traders can initiate transactions from anywhere with the click of a button. On the exchange, Chijioke promises a solid system built to facilitate the smoothest buying and selling of the digital assets.
To Chijioke, going into crypto currency trading has been a life-changing experience. Yet, he warns that it is not a get-rich-quick scheme. He insists that the core attitude that will help Nigeria’s active youth population is an embrace of sound crypto education provided by such bodies as Cryptohub, Abit and others.
The growth of the crypto currency market has been massive in Nigeria, as the adoption and acceptance of digital money among Nigerians have continued to grow. Chijioke sees Nigeria and Africa maintaining the massive growth well into the future.
The testament to the trend, he said, is that so many big international exchanges are setting up branches here and many other blockchain start-ups have sprung up. There is a rise in the demand and adoption of digital currencies in Africa with a sprawling community of traders on the rise. This rise has, therefore, birthed a clamour for innovative solutions that facilitate the exchange of digital money, Chijioke added.
“The only hindrance remains the silence of financial agencies to this emerging tech and this still keeps us far behind compared to the elite nations,” he said. This has made navigating the trade of crypto currency in Nigeria much challenging to the operators with the market space riddled with misconceptions and general mistrust, according to Chijioke.
He expects that as crypto currencies develop over the next 10 years, they can become part of everyone’s use in Nigeria for overcoming many of the issues currently associated with fiat. He sees the adoption of digital currencies leading to financial inclusion, economic growth and financial freedom.
Chiagozie Iwu – Co-Founder/CEO, NaijaCrypto
Mr. Chiagozie Iwu is co-founder/CEO, NaijaCrypto, a fast-growing peer to peer order book crypto currency exchange. He runs the all-in-one digital asset exchange with the objective of providing state-of-the-art services for digital currency exchange in one platform.
Founded in 2019, the platform offers its users the opportunity to convert fiat currency into crypto and vice versa. In addition, the exchange also supports trades between different crypto currencies. The platform also offers Futures contracts and other forms of Derivative Products. As more people switch over to using crypto for remittances, NaijaCrypto aims to be their top destination.
The platform offers mobile tools for trading on the go, giving users a unique opportunity to access most of the services they get on the web platform. Iwu is advancing on his mission of providing an ecosystem for crypto currency traders and enthusiasts that enables seamless spot and derivative trading.
Part of his package also is an educational platform his outfit offers through its academy and state of the art competition module where traders simulate trading experiences and win amazing prices. It also enables businesses and non-profits crowd fund via IEOs. Its peer to peer order book system has proved to be a libertarian’s heaven whereby trading is done in an actual market rather than a broker arrangement. This has permitted price efficiency and market continuity.
The exchange also owns a payment gateway in its testing phase which operates on Naijapay.io. This allows both small and large businesses to receive crypto currency payments without being exposed to Volatility risk.
Iwu is a graduate of International Finance from the prestigious Eastern Mediterranean University, where he finished with high honours. He has been active in the crypto currency space for years, generally building blockchain-related solutions and guiding individuals and businesses on how revenue optimization could be achieved using blockchain and crypto currencies.
He developed one of the most strategic crypto currency indexes called the Bitcoin Altcoin Risk Weighted Index (BARWI30), which has helped to provide information about the health of the crypto currency market as well as a base strategy for thousands of traders and analysts all over the world. He is also a certified blockchain and finance professional with a key focus on how blockchain can be utilized for financial derivative efficiency.
Iwu has built NaijaCrypto from ground zero with modest start-up funding and has turned it into a technological marvel that it has become presently. He holds a record of having made NaijaCrypto the first Nigerian owned exchange to have a tracked listing – which gives the exchange a level of transparency not found among digital exchanges this side of the globe.
He has overseen NaijaCrypto’s transition to automated fiat deposit systems via bank APIs and the development of a simple widget to allow instant conversion of crypto to fiat. He has also accomplished the building of a top-ranking competition module as well as derivative modules for futures and staking.
His futures platform is the first ever by an indigenously owned exchange in Nigeria as well as the first African owned futures exchange to offer users a liquidity pool from the biggest exchanges in the world. With massive upgrades, the spot trading system, like the futures, pools liquidity from the biggest sources, which enables highly competitive price discovery.
The innovative steps that have extended the market reach and dimensions have made Iwu’s NaijaCrypto the first choice for high volume, over the counter (OTC) and institutional traders. The unique offerings and attractions have led to a rise of over a 1000 percent in trading volume this year to stand in the region of $3 million monthly.
The company’s payment gateway Naijapay.io is currently in the beta phase after Iwu overhauled the initial CI Cryptopay. The systems were equipped to fully optimize the process for businesses to receive crypto for payment. Businesses can receive payments via crypto without worrying about the volatility of the currencies because payments can be hedged to fiat. These initiatives have led to increased interests in the payment gateway from users and partners alike.
Iwu’s creation of the right partnerships as well as development of the right B2B networks has also contributed to the massive increase in trading volume. He has retained the vast network as well as these massive technological integrations while working out an operating cost structure that is one of the lowest in the industry.
He assures users of having taken every step to ensure the security of the NaijaCrypto’s platform. The platform uses a cold storage system to store cryptocurrencies therefore making customer deposits safe. It also uses second factor authentication tools such as Google authenticator to ensure further protection of customer accounts. NaijaCrypto in its bid to keep to Anti money Laundering laws imposes a KYC on withdrawals over a certain amount.
His benchmark standard for listing any coin on the exchange is that it must be linked to a project and a confirmation that it has a proper use-case. This can be seen with the fact that the exchange has only accepted a few listing requests out of the multitudes it gets daily.
On the case of whether the exchange intends to list its own token, Iwu is quoted as saying “Many Blockchain and Cryptocurrency projects take the route of selling a token before any actual product is developed, this has been the major reason why many projects in the African space fold without a product or a half-baked product, no one should sell you a nonexistent project. We at Naijacrypto spent over a year building the perfect product and on boarding users without selling any token. The token would come soon but like everything Naijacrypto, it has to be done properly.”
The exchange currently has crypto currrencies such as Bitcoin Litecoin, Ethereum, Ripple and others. It even Listed some DEFI tokens which it felt met some reasonable utility and filtered the hype around the DEFI market. The Naijacrypto team possesses a multiplicity of tools to filter noise and give its users access to the best.
Digital Cash (Dash) is one of the crypto currencies that can be traded on the NaijaCrypto platform. It is a top-ranked crypto currency used by millions of individuals and thousands of merchants and businesses across the globe to carry out fast, secure transactions for less than a cent. It has a market cap of over $1.14 billion, accessible via 700+ ATMS and 90+ exchanges worldwide and stands as a rising alternative to bitcoin.
For the first three months after listing, NaijaCrypto availed users the opportunity to trade Dash at zero percent trading fee. This is one of the ways which the platform has promoted crypto adoption and brought it closer to everyday users.