If you’re in Nigeria but thinking about starting a lucrative business, I’m happy to share these 6 amazing ways you can make money with cryptocurrency in Nigeria without getting scammed.
Although, there are hundred ways to make money online in Nigeria but cryptocurrency and other digital currencies are gaining more influence than any other online businesses in this country.
Since the introduction of Bitcoin, the use of digital currency has multiplied greatly in Nigeria and the world at large. Though it’s not widely accepted as a suitable means of making payments in all banks in Nigeria but, cryptocurrency is a sure way to make money online in Nigeria.
It’s not a get-rich-quick scheme. But I know those people who have gotten insanely rich because of these digital currencies.
Do you wish to join the leagues of Bnaira?
Who is Bnaira?
Bnaira is one of the rich young guys who are smart enough to make money with cryptocurrency in Nigeria without defrauding others. He shows his luxury lifestyles on Instagram and that has motivated a lot of other Nigerians to start this business.
Since cryptocurrency is gradually gaining wide acceptance and people are making money with it, I’ll be showing you 6 ways in which you can make money with Cryptocurrency in Nigeria.
But before then, i will also like you to read this 6 ways you can make money on Instagram in Nigeria
How To Make Money Online with Cryptocurrency in Nigeria
- Adopting cryptocurrency as a means of payment:
This option will appeal more to business owners.
If you’re a business person you can may be thinking how is it possible to make money with Cryptocurrency in Nigeria where it’s not sold in banks.
One of the quirks of the crypto world is its constant changing value, owners of business can take advantage of this.
Once you begin accepting payments using digital currency, you can sell to people who wish to buy digital currencies, the value of the currency should be in your favor in respect to your business before selling.
This is not a safe way of making money with cryptocurrency but it’s a sure way if you can manage the risks involved.
- Through cryptocurrency trading
This is probably the best way to make money with digital currency in Nigeria – cryptocurrency trading.
Each type of currency has several different underlying factors which affect the price of it.
Bitcoin has certainly been the most successful one, but that’s mainly because of its wide acceptance. Especially if you go on to shop anything out on the online, you’ll wonder if Bitcoin is greater than US dollar.
There are several companies who provide the platform for trading cryptocurrencies in Nigeria, they include; Luno, Reminato, Quidax, paxful etc.
These companies bring together traders from all work of life together and makes it easier for them to trade on digital currency.
- Buy and hold digital currency
This is one of the easy methods in terms of how to make money with cryptocurrency in Nigeria. The process involves buying the preferred coin and holding until the price appreciates. Then, sell the coin for a profit.
The method is among the strategies that many investors in cryptocurrencies use. For example, when an ICO is announced, people buy the native coins in large quantities because the price is low. Then, they sell them for a profit when the tokens hit the market, and the price appreciates because of demand.
For those who will like to make cash with digital currencies in Nigeria you should try out this option. As I mentioned above, there are platforms which can assist you in achieving this.
- Earn cryptocurrency dividend
Another smart way to make money with cryptocurrency in Nigeria is buying and holding the coins that pay dividends. Some cryptocurrencies, especially those that use a proof of stake (PoS) consensus algorithm, encourage people to buy the native coins and holding them to secure the network.
In return, the coin holders are paid a dividend. This method was thought to be a better way of securing the crypto network as coin holders would find it hard to conspire to harm the network holding their investment.
Some of the digital coins that delivered high returns to investment to holders include Bitcoin, Ethereum and Reddcoin and I will say you take advantage of this.
Mining is another way to make money with cryptocurrency in Nigeria.
I’ll that this is the most difficult way to make money with digital currency, because of Its technicality. People turn to mining for one of two reasons: either it’s their hobby or they hope to make it rich. If it’s a hobby, you can use your own computer with no additional investments.
Types of Cryptocurrency Mining
There are three basic types of mining – Home, cloud and industrial or large scale mining.
- Home mining
In home mining you have to spend longer hours at your computer resolving algorithms that become more and more complex. You should note that the price of computing power rises as cryptocurrency prices fluctuate, the possibility of returns becomes uncertain.
- Cloud mining
Miners turn to cloud mining to slash hardware and energy costs by leasing mining hardware or hashing power from a remote datacenter.
There are companies which offer cloud mining but most of them are not profitable.
- Large Scale mining
Large-scale commercial mining uses powerful processors that draws several megawatts of electricity, enough to light a thousand houses .
If you’re willing to make huge bucks I’ll advise you go for mining cryptocurrency, but remember you’ll have to invest a lot in it. Internet connectivity isn’t that great in Nigeria, the same can be said with our electricity. If you can make provisions for these you’ll be making a lot money from cryptocurrency.
- Free cryptocurrency
Earning free digital currencies is another way to make money with cryptocurrency in Nigeria. Some of us may not be able to afford the price for purchasing cryptocurrencies which is why there’s a free option, but you won’t earn that much.
There are many website or apps that offer free cryptocurrencies. They are called ‘faucets‘.
Since Bitcoin is the more popular cryptocurrency among others, most of these faucets offer free Bitcoin.
These faucets have you do menial tasks such as solving captchas, playing games, clicking on ads, or watching videos. For each task you do, you earn a small amount of Bitcoin.
Example is Freebitco.in this is a website that offer certain amount of bitcoins for solving captchas. Freebitco.in offers you little amount of bitcoins every one hour, that is after earning you’ll have to wait for the next hour to earn again. Before withdrawing from the platform, you’ll need to get to a specified amount.
They also do jackpots which you can partake in.
This way of earning isn’t really an option for people who are already involved in hectic, full-time jobs.
In conclusion, making money with cryptocurrency in Nigeria is really viable. Some have taken it as a full time job while others see it as a means of earning passive income. I know of a woman, trading cryptocurrency has become a full time job for her, she stays at home making cool cash, she uses the profits to train her son in who’s in one of the higher institutions.
So if you’ve been nursing the idea of starting the time is now, why not join others who are earning massively from this?
How to Buy and Sell Bitcoin on Truexgold in Nigeria
Ever heard about TrueXGold.com? Or have you been looking for an easy, reliable but yet, profitable, and quick way to buy and sell your bitcoin in Nigeria? If yes, then look no more, as I’m going to introduce one of the best digital currency exchangers in the country to you right in this blog post.
And I will also show you how to buy and sell bitcoin on Truexgold; which is one of the many digital currencies you can exchange on the platform. Before I show you these steps, let’s take a look at bitcoin – the currency we’d be exchanging here;
If you’re new to bitcoin, you might have been asking that;
What is bitcoin?
Bitcoin is a digital currency that has been around for a decade and counting. It’s a form of money, but unlike the conventional money, it is decentralized; it has no bank regulating its flow.
Over the last couple of years, bitcoin is slowly getting wider acceptance as many merchants now accept it as a means of making payments. If you also work online, most platforms have an option to pay you with bitcoin.
In certain countries, the currency has begun to get more credence, it’s being slowly used but not regulated.
Despite all these, trading bitcoin is one good way of making money online, this can be achieved in many ways like exchange and mining. We’ll be discussing the former, but you may ask, why should I invest in bitcoin? Is it even worth it? Well, the answer is yes, and I’ll tell you why.
Why Invest in Bitcoin in Nigeria?
This is the question on the minds of many, and I’ll start by saying this: when a thing is owned by many people, it has little value; if it’s owned by a few persons, it is valuable!
Presently, bitcoin is the most valuable form of money in the world; more valuable than the United State’s Dollar, Pounds, Euro, and all other forms of conventional and digital money.
Although its price is inconsistent – which is the thing with all forms of money, it still holds more value, and one can make money whilst trading it for other conventional forms of money.
One of the cool reasons why you should consider looking into this currency is its flexibility as a means of payment. You can send money to anyone, and anywhere in the world without any form of restriction, no bank could block you for carrying out transactions with it, government policies are non-existent in the world of bitcoin.
Most Nigerians make money trading bitcoin, and some have lost money in this business which is quite unfortunate. The big problem is that there are lots of bad apples in the crate, lots of scammers posing to be legit, and you might easily fall prey to their antics.
To help salvage this situation, I’ll again love to introduce you to Truexgold.com – a platform for cryptocurrency exchange; with all the major currencies available.
TrueXGold.com will buy your bitcoin or sell to you without cheating or “ripping” you. But most people ask, which you might have also been thinking right now that;
Is Truexgold.com Legit or Scam
Truexgold is legit!
Truexgold is a cryptocurrency exchange platform where any Nigerian can exchange various forms of digital currencies. But the most bankable reason about this platform is that it has been around for quite some time now, and so far, they’ve remained true to delivering the best crypto exchange service in Nigeria.
Well, a man can be old with grey hair and still be useless. But Truexgold.com has been in the bitcoin buying and selling game for a while, and they’re still useful, strong, and legit.
A lot of positive feedback has been given by users of this platform, this speaks volumes of their credibility in this field. You can check them here: https://truexgold.com/reviews/
It’s pretty easy to exchange any form of currency via Truexgold.com; they’ve got highly skilled personnel who put in their “A-game” to make sure you keep coming back for business.
Truexgold offers some of the best rates in the market across all the available currencies. They have a partially automated system that makes transactions much faster and efficient.
Visit https://www.truexgold.com to get started. Signing up should take some clicks and you could begin exchanging right away.
Requirements to Get Started on Truexgold
Before heading on the start exchanging, here are certain things to have;
1. You Must be a Nigerian:
Truexgold is currently serving Nigerians and so to be able to carry out any transaction, you have to be a citizen.
2. A crypto wallet/address:
This is where you hold your digital currencies. There are quite a good number of wallets out there, kindly make sure you have one already.
3. Bank Account:
This is a no-brainer! Anyone willing to engage in financial transactions ought to have this.
The requirements below are not compulsory but may be needed for additional verification. Without verification, there are automatic limits imposed on your account, and you may not be able to carry out a certain volume of transactions without a verified account.
In order to verify, you need to have carried out at least 10 transactions on this platform, with addition to the following;
4. A Regulatory ID Card:
Having any of the government-issued ID cards is important here. Truexgold suggests you have either an International Passport, National ID Card, or a Driver’s License, any of these will work just fine.
5. Face/ID/Date Verification:
This is done by most crypto exchange firms; you have to take a picture of yourself holding your ID card and a paper showing the day’s date. So, your picture should clearly show your face, your ID, and a paper with an inscription of today’s date if you’re signing up today.
Below is what it should look like:
6. Phone Number:
You should get a call from the account operator to verify your number.
These are what you need in order to start exchanging on Truexgold.com; with these in place, I think it’s time I show you how to buy and sell bitcoin on Truexgold.
How to Buy bitcoin on Truexgold
Buying bitcoin via Truexgold is quite easy, and you can do that with these few steps;
- Visit their official and only website: https://www.truexgold.com.
For mobile users, you would need to switch to the original website by tapping on the “Go to Original site“, which can be found at the bottom. This is the best way to transact.
2. On the site, tap “Exchange” on the horizontal dashboard
3. Since we’re buying bitcoin, we have to select Naira (NGN) on the left, which should show us a handful of options on the right, which we’re to select BTC.
4. Click on “Bitcoin BTC” on the right, or the Bitcoin logo, to enter the exchange panel
5. On the panel, fill out the required information, answer the mathematical captcha, then click on “EXCHANGE”.
N.B. The minimum amount you can buy is N4,000.
6. Right after that, you’d be promoted to create order; read and agree to the Ts and Cs, then select “CREATE ORDER”
7. On the next page that pops up, you’d be given instructions on how to pay and verify your payment. Follow the instructions, submit the required information, and then tap “PAID”.
8. Upon verification of the transaction, your corresponding value of BTC would be sent to your wallet. This usually takes between 5 minutes – 1 hour during working hours, but could be longer outside working hours.
These are the steps to take in order to buy BTC on truexgold.com
But sometimes, you may have bitcoin in your wallet and you need to sell it. So, what if you want to sell bitcoin on Truexgold? Well, here is…
How to Sell bitcoin on Truexgold
- Repeat steps 1&2 above.
- For the sale of bitcoin, we are to select BTC on the left.
N.B. On Truexgold, you pay on the left and then, receive on the right.
- Tap on the Naira logo on the right. You’d be taken to the exchange panel.
- Fill out the required information, take note of the minimum BTC value, solve the mathematical captcha, then select “EXCHANGE”.
- On the next page, you’d be shown a brief summary of your transaction details. You need to accept the terms and conditions, then select “CREATE ORDER”.
- Next up, you would be given an address to pay the required amount of bitcoin. After successful transfer, verify your transaction, then select “PAID”.
When confirmed, Truexgold will send the equivalent Naira value to your bank account.
That’s all – On How to Buy and Sell Bitcoin on Truexgold in Nigeria
If you have any question or face any technical issue, you can see how to contact the Truexgold.com’s admin on the website or better still, you can use the following to contact them;
Email address: Hi@Truexgold.com
Contact form: https://truexgold.com/feedback/
Remember, this is a legit exchange platform, so you have nothing to worry about. Just follow the instructions, get your account verified, and you could exchange all day, no matter the amount but below 100BTC tho.
If this blog post is helpful, kindly share with your friends by clicking on the social media icons floating here. If you have any questions regarding buying and selling bitcoin on Truexgold, please contact the admin responsible using the contact details above.
Also, I’ll be happy if you can tell me and other readers your experience on Truexgold.com by using the comment box below.
Good News! Bitcoin ATM in Nigeria is Now Available — Withdraw from Wallet
Are you looking for a way to withdraw cash from your bitcoin wallet in Nigeria, or you’re even doubting if this will be possible? Well, that was impossible for some years but now, you can now withdraw your bitcoin earnings via Bitcoin ATM in Nigeria.
As you know that Bitcoin is a digital currently, the most traded in financial market. Regardless of its ups and downs prices, investing in Bitcoin or cryptocurrency business is one of the most lucrative and passive ways to make money in Nigeria.
There are lot of people who’ve made fortune from cryptocurrency, and people are still making some hefty income from bitcoin in Nigeria.
Here is one of the sad demerit of it;
Smart entrepreneurs are really making money from crypto in this country but unfortunately, they’re not enjoying their profits to the ‘fullest’. Why? Because some percentage of their profits are lost to exchangers.
Well, that was the only way you can enjoy your bitcoin earning in Nigeria, I mean sending those bitcoin from your wallet to the exchangers’ wallets and he will send you cash in returns.
This is what I’m saying;
Let say 1Btc is $20,000 on normal exchange rate.
But if you want to sell the same 1Btc to an exchanger in Nigeria, you could be paid $18,000 — $19,000. But I’m sure no exchanger will give you $20k.
In some countries, they have ATM machine to withdraw cash from their bitcoin wallets. Which makes it possible for them to enjoy their maximum profits trading or investing in bitcoin. They don’t have to send to any exchangers unlike Nigerians.
Apart from loosing some percentage of your profits to an exchanger in Nigeria, you can also be scammed.
To be safe and enjoy all the benefits that comes with bitcoin, we need to have a stable Bitcoin ATM in Nigeria to withdraw cash from your bitcoin wallet.
First Bitcoin ATM in Nigeria is Launched
For the past few years, we didn’t have such in Nigeria, I don’t no why. Maybe because it’s too expensive or those cryptocurrency entrepreneurs didn’t value it.
But I’m happy to announce to you that; there’s a Bitcoin ATM in Nigeria where you can withdraw your bitcoin earning!
Yes, hundreds of people are happy on Facebook when a media entrepreneur who is also into crypto business, Makinde Azeez (founder & CEO of famous Naijaloaded.com) made the public announcement that his Bitcoin ATM just got delivered to him. And of course he shared the picture of himself with the BATM as a proof.
Although, Makinde Azeez bought the first (and currently the only) Bitcoin ATM in Nigeria but I’m sure that someone else is ala thinking of the same thing in this country.
Currently the bitcoin ATM can only be found in Lagos, Nigeria
Although Makinde Azeez is not in all 774 local government areas in 36 States in Nigeria, but you as a person who’s into cryptocurrency can benefit from him.
Ask me how!
Remember I said the only way to withdraw cash from your bitcoin wallet in Nigeria is to sell it to exchangers in return for money or cash.
That’s the method we are still going to be managing for now until we have these Bitcoin ATM saturated in Nigeria.
So, how are you going to withdraw cash from your bitcoin wallet in Nigeria?
It’s simply by contacting Makinde Azeez!
To contact him physically, you will need to find his location in Lagos and close the transaction between you guys or contact him digitally (online).
To contact him digitally, you’ll send the bitcoin to him and he’ll help you withdraw it from his BATM.
Note that he’s not going to do the transactions for free. He will surely charge you a taken according to how much you want to withdraw from your bitcoin wallet.
No matter how much he charge you, it’s safer than giving your hard-earned and expensive bitcoin to someone that will scam you or ripped out some profits more than normal as his exchange fee or percentage.
Let me use the previous example to explain this better.
If normal exchange rate for 1btc is $20,000. An bitcoin exchanger in Nigeria may buy it from you at $19,000, making you to loose a whole $1,000!
And that $1,000 in Nigeria currency is equivalentIs to N362,000! That’s lot of money. In fact, you can use this to start a business or buy a plot of land in some areas in Nigeria.
But sending your bitcoin to Makinde Azeez for Cash withdrawal will be little bit lesser.
Why sending your bitcoin to Makinde Azeez for Cash withdrawal via Bitcoin ATM? Is he trusted?
Yes! He’s trusted and has been building his reputation online for past decade. He’s the founder of Naijaloaded where you download your latest music.
Please note that a lot of people will be trying to impersonate him or act as if they are his agents in order to scam you but please, don’t fall from them.
I don’t how many percent he’ll take but very possible he will be the best and most affordable bitcoin exchanger in Nigeria.
Conclusion — Bitcoin ATM in Nigeria, Withdraw Cash from Bitcoin Wallets
This is NOT a sponsored post or post published for advertising sake!
I don’t know Makinde Azeez and same from his side. But as an entrepreneur, it’s a good news that someone made an effort to sacrifice and buy this expensive bitcoin ATM in Nigeria.
And also, making it more easier to withdraw cash from your bitcoin wallet without loosing much from your profits.
You may be asking..
How can I Contact Makinde Azeez?
To contact him is easy but you need to be very careful because people are impersonating him a lot. I won’t drop any link here but you can go to go to Naijaloaded.com, click on the contact us page and you’re good to go.
Please don’t fall for scam trying to get to him. I can help you get his personal WhatsApp number if you wish (kindly comment below for this)
Also, I’m not a cryptocurrency exchanger. So don’t contact me for this.
But if you have payoneer funds, I can buy from you at a good exchange rate.
Over to you….
Are you happy for this good news? Will you like to try the bitcoin ATM out? Do you have anything to say about this bitcoin ATM and cash withdrawal from your bitcoin wallet? Please let share them using the comment box below
And don’t forget to share!
Facebook’s Libra Cryptocurrency – Benefits & Everything You Need to Know
Have you heard about Facebook cryptocurrency called “Libra”?
Few days ago, Facebook announced it’ll be having its own cryptocurrency, despite the constant fluctuation in the price of cryptocurrency, they’ve taken bold steps in introducing “Libra” to the world.
They released a document of up to hundred pages, explaining everything about the Libra project. Contained in the document is its founding members—currently composed of 27 organizations plus Facebook.
Other details were given, I’ll be breaking down the important parts of this document in this post.
Fasten your seatbelt, it’s gonna be a long ride!
What is this Facebook Cryptocurrency, Libra?
The term ‘Libra‘ is the Roman unit of weight, it’s equivalent to 327 grams. It a Latin word which means “scales” or “balance”.
The latter may seem to be the reason for choosing the name, given the current instability in the cryptocurrency industry.
Libra is Facebook cryptocurrency, just like Bitcoin and Etheruem.
It’s regulated by Blockchain.
Reason for Creating Libra, Facebook Cryptocurrency
The reason for creating this currency comes from the bane of high transaction charges for sending money—especially abroad.
It’s aimed at enriching the lives by reducing these cost which sometimes, have deterred some from sending money to their loved ones.
It is built on a scalable and secure Blockchain network, to be governed by an independent association—The Libra Association, and a reserve to protect its value in the financial world. The reserve is made up of real assets, also bank deposit and government owned securities will be deposited into the Libra reserve once a Libra is created.
Although they didn’t promise it’ll be free of charge, they’ve describe the charge to be that similar to that of “gas”. With this you can pay for anything online and offline (when it gets adopted) without worrying about charges.
Here is a big news about this Facebook Cryptocurrency, Libra
It’s going to have its official wallet— “Calibra”, that’ll be used for holding the Libra.
Calibra will allow users to pay for product and services, send/receive money or any other form of trading. This wallet will also be integrated into Facebook’s messenger and WhatsApp on the Android and iOS platform so as to ensure easy sending of money, it’ll be easy as sending of messages on those platforms.
Symbol or Logo for Libra, Facebook Cryptocurrency
The currency is represented by the (≋) symbol.
Facebook also announced that owning a Facebook account isn’t a priority for making use of Libra, they’ve also highlighted that a subsidiary body will be in charge of the affairs—Calibra.
They’ve also promised anonymity for users of Libra, this is due to recent events on breach of users’ privacy on the part of Facebook. According to the document, your personal details won’t be shared to Facebook, and won’t be used for targeted ADs, the Calibra organization will see to this.
RECOMMENDED: Top 10 Apps to Make Money for FREE
Although it’s been seen as a Facebook product, they’ve stated that all founding members will have an equal stake, this means no decision will be taken independently by Facebook as all members (more on this below) will have a 1% vote in taking of decisions.
The Libra Association – Facebook Cryptocurrency First Sets of Shareholders
As at when writing this, 28 organizations from different sectors around the world have combined to form the Libra organization.
Facebook also stated that it’s targeting at least hundred members before the official launch, direct competitors including Google and Twitter are also free to join the project. The organization will have it headquarters in Geneva, Switzerland. The choice of country was chosen based on the country’s support for innovative banking technology and neutral status as an institution.
Members of this facebook cryptocurrency, Libra are required to meet in Geneva twice a year.
The association will be a “not-for-profit” organization, at least in the early stages of Libra.
They aim to create an ecosystem where everyone can make use of money at all times without worrying about security and outrageous charges. They aren’t interested in making money currently, but in the future plans will be made to monetize the platform. We could see a possibility of taking loans, just like the conventional banks do.
Members paid $10 million each so as to join the association. This entitles them a single vote, a validator node (network that handles the Libra Blockchain), and a share of whatever is gained from the reserve. The members have been charged with the responsibility of helping enhancing the currency, recruit other members to serve as validator nodes.
According to Facebook;
An important objective of the Libra Association is to move toward increasing decentralization over time.
The Complete List of 28 members in Libra Association
The following members make up the Libra Association;
Technology and Marketplaces
- Bookings holdings
- Mecado Pago
- Union Square Venture
- Thrive Capital
- Ribbit Capital
- Andreessen Horowitz
- Breakthrough Initiatives
Non-profit and Multilateral Organizations, and Academic Institutions
- Women’s World Banking
- Creative Destruction Lab
- Mercy Corps
- PayU (Naspers’ fintech arm)
- Xapo Holdings LTD
- Bison Trails.
These are the 28 founding members of the Libra Association with a goal to reach 100 members before the official launch.
They’ll work together to finalize the Association’s charter. In the meantime, Facebook will maintain its leadership position throughout 2019. Calibra, a subsidiary of Facebook, currently headed by David Marcus—Facebook’s VP on Blockchain, will ensure that users data wouldn’t be shared with Facebook.
Once Libra is launched, all members will have equal rights and privileges in operation of the Association, even though teams from Facebook led to formation of the Libra Association.
These members have met certain requirements and future members will need to meet them. Here are they:
Requirements to Join Facebook’s Cryptocurrency, Libra Association
- They’re are ensure that they’ve got a dedicated internet connection, 100 megabits per second or half portion of server space
- More than a billion dollar worth of assets
- Blockchain firms like Xapo, Coinbase etc. would have been into business for more than a year, have an enterprise-grade security and more than a hundred million dollar worth of asset
- Non-profit and Multilateral Organizations, and Academic Institutions are required to have at least $50 million in terms of budget, must be in Charity Navigator’s top 100 and must reach out to a lot of multinationals.
Benefits of Facebook’s Cryptocurrency, Libra?
Facebook has hammered on the need for a decentralized and portable currency, this will lead to a better financial inclusion and competition. There’s need for merchants and developers around the world to work seamlessly with digital currency, the Association has this as one of its primary objectives.
Sending money will be as easy as sending a message using your favorite instant messaging app.
Privacy has been promised in the Association’s White paper which was released days back, this has been an ongoing issue in recent times and the Association is tasked with maintaining anonymity of transactions, at least you don’t need a Facebook account to own and use Libra—you financial details are safe (according to them).
Its 28 member (to increase in the future) association will ensure a highly decentralized currency which will be readily available to anyone one with internet connection—according to Facebook CEO, Mark Zuckerberg.
Also, to ensure stability—which is one of Libra features, the currency value will be similar to rate of currencies like the Dollar, Pound, and Euro. With this you can exchange your Dollar for Libra without losing much value, send to friends and pay for products without incurring much charge.
Security will also be top notch as you’d be protected by reliable cryptography, especially for those who would be using it on the social platforms like Messenger and WhatsApp.
Facebook Cryptocurrency, Libra: Launch Date
With all the goodies promised by Facebook, one may be itching to lay their hands on this new digital currency.
Well, it’s gonna be a long wait as the Libra project is still in its developmental phase, developers are working on making the Libra and its wallet—a remarkable one.
Although Facebook didn’t give a specific date, they’ve hinted that the launch will happen in the first half of 2020. Until then, Facebook will continue to lead the Libra Association.
Developers are also encouraged to join the project. They are expected to make use of the Association’s programming language called “Move Programming Language”.
The language was created to make writing of Blockchain easier, meanwhile the Rust Programming language will be used to implement the core APIs of Libra. The Move language is still going through development, so it’s not been released to developers yet. Once it’s released (on or before the launch in 2020), developers will be able to create apps that be able to work with Libra platform. But for now, they’ll be able to create script and prototypes using Move IR, which should be available to them.
What Experts Say About this Facebook Cryptocurrency, Libra
Many experts have hinted at the possibility of incongruous developers using the platform for fraud, this is due to the fact that the Libra Blockchain is open source, with an Apache 2.0 license.
There has been no response from Facebook on this even though they’ve stated they’re open to public enquiry from policy makers and regulators.
Later this year, the Association will be partnering with HackerOne, they’ll pay experts in cybersecurity for identifying bugs, breaches and flaws that may be present. This is why the Association has chosen to use Rust in the development of Libra’s core. Since Move will be open source, it wouldn’t be recommended for implementing the important parts of Libra Blockchain.
Public Reactions on Libra
Many person have hinted at Facebook’s shady practices in terms of privacy and are still not convinced on the idea, believing it’s the same good old Facebook that ‘says and never does’. Someone the other hand, are very excited about the initiative and are ready to jump on it once it gets launched.
Experts believe that the Libra wouldn’t be decentralized as has been promised by the Libra Association, they believe that true decentralization in almost impossible even though Facebook has promised it. Many are still skeptical, never liking the ideologies behind cryptocurrency and with Libra’s promised stability, scalability and wide acceptance, they’ve chosen to remain unchanged.
You’ve gone through just a brief from the Libra Association’s White Paper, you can read everything >>>>>> https://libra.org/en-US/white-paper/.
This is what you need to set your mind on;
Facebook and its founding members of the Libra project has promised stability, scalability and a more decentralized currency. Privacy and top notch security has also been promised and we wait to see if all these get implemented when it’s launched in the first half of 2020.
What do think of Libra?
Do you think that this Facebook Cryptocurrency, Libra will work in Nigeria?
Kindly share your opinion with us here in the comment box below!
How to Get Auto or Vehicle Insurance in Nigeria (Updated 2020)
How to Get Travel Insurance in Nigeria (Everything You Need to Know)
15 High-Paying Digital Skills to Make Money Online in Nigeria
9 Best Referral Apps to Make Money in Nigeria (Updated 2020)
How to Buy and Sell Bitcoin on Truexgold in Nigeria
10 Best HMO in Nigeria (2020) & Their Contacts – Health Insurance
11 Best Ways to Promote or Market Your Music in Nigeria and Beyond
Top 10 Freelance Websites to Make Money Online in Nigeria
Top 10 Money Making Apps in Nigeria (2020) – Earn Money Using Smartphone
Top 10 Online Paid Survey Sites in Nigeria
10 Best Affiliate Programs In Nigeria to Make Money Fast
How to Easily Open a PayPal Account in Nigeria (and Verify It)
Earn $25 for Free While You Send & Receive Money Online Easily!
Interested in Recharge Card Printing Business?
Subscribe to Receive Free Updates;
Buy a Reliable Web Hosting or Server
- Business51 years ago
Top 10 Agricultural Businesses in Nigeria with Little Capital but Huge Profit
- Business51 years ago
Malthusian Theory: Is Corona Virus a Man-Made Weapon to Control the Population?
- Business51 years ago
How to Dress Like a Smart Entrepreneur in Nigeria
- Make Money Online2 months ago
20 Ways to Make Money from Home in Nigeria During this COVID-19
- Banking51 years ago
How to Get a Payoneer Account in Nigeria (FREE) & Obtain MasterCard Easily
- Business51 years ago
How to Start a Junk Hauling Business in Nigeria – Make Money from Trash/Waste
- Business51 years ago
5 Smart Ways to Save Money in Nigeria – Save & Earn Money Passively
- Business51 years ago
Top 10 Hot-selling Products for Mini-Importation & Dropshipping in Nigeria