Author: Koladele Olaitan

Once upon a time, around 1972-1983, the Nigerian Naira was worth more than the dollar as $1 (1 USD) then traded below #1 (1 Naira). This didn’t last for more than that initial ten years as the Naira began to fall gradually since then. Usually, currencies aren’t stable, their values fluctuate due to several economic conditions thereby causing them to rise and fall. But the Nigerian Naira has a long history of falling. The few times it managed to appreciate, it went down lower after. See Full History of Exchange Rates (Naira to Dollar). What is inflation? Inflation is the…

   Blockchains are digital records of transactions duplicated and publicly available to anyone interested in taking a look. Transactions are only added to a Blockchain only after they have been verified using a consensus mechanism.  Read more about consensus mechanisms here. Different Blockchains employ different consensus mechanisms. Cardano is a Blockchain that uses Proof of Stake (PoS) to verify transactions. Cardano was founded in 2015 by Ethereum’s co-founder Charles Hoskinson, supervised by The Cardano Foundation. “Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. Cardano is designed to be the platform of choice for the…

Bitcoin is one of the over thirteen thousand (13,000) cryptocurrencies tracked on CoinGecko and over 19,000 on CoinMarketCap. It is a digital decentralized currency that runs on a Blockchain. It helps to facilitate peer-to-peer, fast and borderless payments. Bitcoin was created by a mysterious man named Satoshi Nakamoto in 2009. The currency has since then gained mass adoption and popularity. The success of this digital currency has made its creator really wealthy. Satoshi Nakamoto Now The 15th Richest Man in The World. Why is Bitcoin so volatile? Bitcoin’s popularity and adoption have made it tradeable by millions of traders across…

A Blockchain is a digital ledger that contains records of transactions duplicated and is publicly available to anyone that wishes to access it. A Blockchain is secured using cryptography and transactions are verified or validated with a consensus model. This validation is what ensures that all transactions recorded or approved on the blockchain are accurate and correct. Read more on how a Blockchain works Consensus model? A consensus model is a method in which transactions on the Blockchain are verified. Anyone can decide to verify transactions on a Blockchain by using the consensus model of such Blockchain. The two most…

The world is turning out to be progressively unstable. Presently, inflation is at its most noteworthy over the last forty years, previously surpassing 5% in Europe and arriving at 7.5% in the United States. One can see rising costs of goods going on in the world presently. Financial specialists say an enormous piece of this is basically on the grounds that the ‘buying influence’ of cash is diminishing over the long run, and is endured as a means to an end to fuel the general economy. The falling value of government issued currencies drives more investment decisions. You need significant…

Despite the city’s position as a popular destination for trading virtual assets, it was reported that the UAE government wants to transform the city into a global hub for this type of asset. Prior to this decision, the Dubai Multi Commodities Center, the biggest deregulation zone in the UAE, had set up an administrative system for crypto firms in March 2021, and has previously authorized 22 organizations, according to Bloomberg. Abu Dhabi’s International Financial Center, a money center and deregulation zone, had given its first crypto trade permit, to Matrix, in May 2020. Last December, the Dubai Media Office said…

The sanctions around Russia have caused its western-based Oligarchs to increasingly explore ways to empty their Cryptocurrency wallet into Dubai’s Real Estate. Cryptocurrency exchanges located in Dubai are said to have been receiving requests to liquidate large amounts of bitcoin. The liquidated funds were used to purchase real estate in Dubai and physical cash. According to a report, one crypto firm has received lots of queries in the past 10 days from Swiss brokers asking to liquidate Bitcoin worth billions of dollars because their clients are afraid Switzerland will freeze their assets, one executive said, adding none of the requests…

According to recent reports, the possibility of banning Russia from the SWIFT global interbank payment system after its invasion of Ukraine has skyrocketed. However, there has been broad speculation that the Russian government might be considering the use of Bitcoin to bypass international sanctions. This is because digital currencies like Bitcoin, Ethereum, and Litecoin are decentralized (they’re not controlled by the governments or central banks). But, there are a number of challenges: BLOCKCHAIN: (the technology that underpins Bitcoin and other digital currencies) is a public ledger of activity. Therefore, it’s possible to track transactions. The biggest misconception about crypto remains…

Bear markets are an integral part of the market cycle and it’s hard to anticipate them due to individual sentiments, know how long they will last or their impact on the market. However, you can survive them by managing your risks effectively. In the crypto world, the bear market is the opposite of the bull market – a time when prices of all crypto assets are increasing and confidence is high. Cryptocurrencies are very volatile, prices of assets can fall by up to 90% under 24hrs. Prolonged price drops are some of the most difficult times any investor can face.…

NFTs collection NFTs (Non-fungible tokens) are tokens deployed on a blockchain that have a unique ID and can’t be replicated. A token is fungible when it can be replaced by an identical one. Since NFTs are non-fungible, only one of each can exist on a Blockchain. NFTs have been around since 2014 but didn’t gain popularity until 2020/2021. The NFT hype really went over the roof in 2021 as virtually everyone in the crypto space wanted to know what an NFT is. Owning digital arts used to be difficult because there’s no proof of ownership of the item and it…