Mrs Nneka Oyeali-Ikpe MD/CEO Fidelity Bank Nigeria
A woman of Excellence, A woman of Integrity, A woman of Influence With over 30 years’ experience in the Banking Industry, we remain confident that you will take Fidelity Bank to even Greater Heights
We are proud of you and wish you success in your new role
CONGRATULATIONS!
Signed: Friends of Mrs Nnneka Onyeali-Ikpe
Cryptocurrency has gained worldwide recognition in the finance sector, especially in the past year despite the many uncertainties that came with 2020. The tremendous growth the crypto industry saw in 2020, especially for Bitcoin, has drawn the attention of more users. As of December 2020, Blockchain.com wallets reached over 63 million wallet users, and now more than ever, there are millions of people interested in investing and trading bitcoin.
While this might sound interesting especially to beginners, there are certain crypto investment mistakes you should not make. This article highlights some of them.
The fear of missing out is one of the wrong reasons why people go into investments. It is not enough that a lot of people are talking about it, especially with the surge Bitcoin experienced towards the end of 2020. The exciting news of getting more money might cloud your judgment and you end up investing in what you don’t have adequate knowledge about.
The first rule of investing is to never invest in what you do not know or understand. Take some time to learn about what you intend to commit your funds to. Learn the basics and do further research where necessary. One of the things you’ll find out from your research is that cryptocurrencies are decentralized and highly volatile. This means you could lose your money in the process and you are fully responsible for your money.
Don’t get carried away by the noise. Be aware of all the risks involved and know how it works, then proceed to commit to it if you’re convinced enough.
Overtrading refers to buying and selling stocks in excess. This is not far-fetched especially for people who started trading for the sole purpose to make quick money. As tempting as this seems, it’s dangerous. You might end up losing your profits due to the cumulative trading fees. Trading sometimes works like trial and error, which means you will likely not consistently have good trades all day.
Take deliberate action to avoid overtrading. Practical steps to take include being self-aware, creating rules, taking breaks, and practicing risk management.
Your choice of exchange goes a long way in the outcome of your trades and your overall experience. There are several platforms to use today, including the bitcoin evolution exchange. However, before deciding, you must first read up on the features, fees, and practices of the exchange. Also, consider security and transparency for the safety of your funds. Put your options together and decide based on what suits your preference best.
Every expert in trading would always advise you not to put all your eggs in one basket however tempting it may be. While Bitcoin might be the first and most promising of all cryptocurrencies, you don’t have to stick to just that. Diversify your portfolio by investing in other cryptocurrencies. To make it easier, choose an exchange that allows you access to other cryptocurrencies apart from Bitcoin.
As more people embrace cryptocurrency in 2021, it is important to avoid these common mistakes if you’re looking to get the best outcome.
There has been a spike in Bitcoin’s price recently, especially in the past few months, and it has sparked a lot of conversations on what moves the price and why it keeps rising. 2020 experienced a 41% increase in the number of bitcoin users as the numbers increased from 49 million in 2019 to 63 million in 2020.
What drives this growth? Is there a logical explanation as to why bitcoin keeps rising?
As the price of bitcoin continues to increase, more people are beginning to find some interest in it compared to when it was just launched in 2009. A report from JP Morgan in 2020 claims that more institutions are buying bitcoin three times more than they did in the previous quarter. One of the major reasons why the demand for bitcoin increased in 2020 was the COVID-19 pandemic that impacted financial markets all over the world.
Technological advancements have also made bitcoin trading easier than ever, as there are now improved high-tech platforms designed to allow seamless bitcoin trading. Ease of access and use has also been simplified for everyone whether you’re a beginner or an expert.
The higher the demand, the higher the price would be, especially if the supply is limited. Considering the factors that contributed to the rise in demand for bitcoin in 2020, it is not far-fetched that the price kept increasing.
Bitcoin has grown beyond a simple digital currency that you can invest and trade in and is now being adopted as a payment method all over the world. More people now have an extra solid reason to own bitcoin, as long as they can make everyday payments with it. PayPal announced in 2020 that it would allow users and merchants to buy, sell, hold, and accept bitcoin. With PayPal being a globally recognized payment platform with over 350 million users, this is a huge move and will further propel more people to own bitcoin.
In addition to PayPal integrating bitcoin, several other platforms have also embraced cryptocurrency as a form of payment. Many business owners have also made it an option to receive payments.
With the continuous adoption of bitcoin as a payment method by several platforms, the demands will continue to increase, which will impact how the price moves.
Bitcoin has no doubt earned its respect over the years since its launch in 2009. It has managed to maintain the top position among other cryptocurrencies and has improved its authority and relevance in the crypto world. Several upgrades have been made to bitcoin over the years, including the ease of access and the availability of licensed and regulated exchanges such as the bitcoin circuit in local and international sectors.
Whether or not bitcoin will continue to rise depends on a lot of factors. This includes the finite supply of bitcoin capped at 21 million and also the availability of several other cryptocurrencies competing with Bitcoin. We are however gradually settling into the era of digital currencies and as technology continues to advance, there’s still a chance that the price will continue to rise, at least for the next few years.
China is one of the most technologically advanced countries in the world and this means they have explored some of the best technology innovations. China is said to be driving technological innovations in emerging areas, which include the finance sector. People in China have gotten familiar with digital payments even if other developing countries seem to just be catching up in recent years. For years, they have moved around shopping digitally with WePay or AliPay or with a Smartphone App.
So, it’s not much of a surprise to hear about the China cryptocurrency, as China is now the frontrunner in developing a Central Bank Digital Currency (CBDC). This digital currency is referred to as China’s Digital Yuan or the Digital Currency Electronic Payment (DC/EP) and has so far been projected as the most advanced of the several CBDC initiatives developed around the world.
China has always been at the top of its game with digital payments but in the past few years, the Chinese government has managed to crack down the use of bitcoin, ether, and other coins. In September 2017, Chinese regulatory authorities were reported to have imposed a ban on initial coin offerings (ICO) and termed it illegal.
Despite their moves so far on cryptocurrency, they seem to have encouraged other blockchain applications and services. The government emphasized the difference they see between cryptocurrency and blockchain users and informed organizations in the blockchain technology sector to pay close attention to these differences. Regardless, people in China still trade cryptocurrencies but do so by using foreign exchanges.
Could they have left the blockchain technology to reign in China due to what they intend to do with it for the China digital currency? That may be the case as their recent moves have affirmed that.
China seems to be racing to a completely cashless society and according to Reuters, a commentary published by the country’s central bank said: “China needs to become the first nation to issue a digital currency in its push to internationalize the yuan and reduce its dependence on the global dollar payment system”. It’s becoming a competition among nations.
This digital Yuan may threaten other cryptocurrencies, considering how much impact china has on the tech sector at large. When China made reports in 2017 on banning ICOs and shutting down local exchanges, the price of bitcoin reportedly dropped.
However, bitcoin is also making huge global moves regardless and there’s no telling what exactly to expect in the long run.
There are several digital currency solution providers in China such as the Yuan Pay Group. These platforms have been created to cater to people and the governments in China to take advantage of well-structured digitized payment solutions.
The Chinese government is moving faster than ever to fully implement these changes and make their digital currency available to everyone. Digital Currency Electronic Payment (DC/EP) has been under development for more than five years and it’s only a matter of time before it is fully implemented into the economy.
Bitcoin has increased in value over the years since its launch in January 2009 and had its highest records of all time in December 2020. This surge in the price of bitcoin in the past few weeks has attracted more bitcoin users than ever before.
If you’re just getting started with bitcoin trading and curious about how it works, this article can serve as a quick guide.
Bitcoin trading is the act of buying bitcoin at a low price and selling it when the price is high. When you invest in bitcoin, you only have to buy it and keep your coins there, usually for the long run and watch your money grow.
On the other hand, bitcoin trading doesn’t require you to hold your coins for a long period of time. Rather, the traders would watch the market closely so they can buy as much as they can when the price is low and sell later when the price is high. The difference between the price at which they bought and sold would determine their profit.
There are different kinds of traders, which could depend on the trading method used. The trades are done via bitcoin exchanges with features to help every trader make the most of them, such as the Bitcoin Compass trading features. Some of the most common methods used by traders include the following:
This is the most well-known active kind of trading that involves conducting multiple trades all day long. Day traders buy securities in a day and ensure they sell them before the day is over and no
position is left overnight. Since their profits would be based on the difference in buying and selling prices, they stare at the computer all day to not lose track of when the price changes.
The scalping method is becoming more popular lately, as it involves making profits repeatedly over small price changes. Since it’s short-term trading, it helps with risk management and creates advantages for traders.
This form of trading focuses on capturing short- to medium-term gains. Traders tend to take advantage of the natural swing of price cycles, which is usually at the time there’s a bitcoin trend due to the price volatility. Swing traders buy or sell their bitcoins as the price volatility sets in. They don’t have to stare at their screens all day like day traders but rather look at the big picture, which might take them weeks or months.
The major factor that drives bitcoin trades is price volatility. The value of bitcoin has been historically volatile, which means the price tends to change over a short period of time. Factors that move the price include Supply and Demand, Press, Regulation, and Adoption.
Many traders take advantage of this volatility and make the most of it. While it has its advantages by helping you gain more profits over time, it could also be a disadvantage if you’re not careful. It takes time, effort, knowledge, and practice to be an experienced trader with fewer losses.
The number of bitcoin users grew to 63 million in 2020 and as the value continues to increase, the demand also increases. More people are beginning to embrace cryptocurrency and be a part of the trend. However, beyond the trend, everyone must understand what they are getting into.
If you’re just getting started with bitcoin, here are some important questions you must ask before you make a major move.
It’s important to know why you have chosen to follow this part. Is it because of the trend? Is it the fear of missing out? Is it for business purposes? Or do you just love the idea of investing in a digital currency?
Knowing why you have chosen to buy bitcoin would go a long way in the numerous decisions you’ll have to make later. It will also guide you on your journey and help you know if you should invest or trade bitcoin and for how long. For example, if you’re looking to create a long-term additional source of income, you may choose to invest in bitcoin. If on the other hand, you prefer short-term gains, you could consider day trading.
Before you buy your first bitcoin, you must first understand how it works. This includes the basics of what bitcoin is all about and how you can buy and store it.
Bitcoin is a highly volatile asset and you must tread with caution especially if you’re just starting. If you do not know this, you are likely to buy more bitcoins than you should and possibly lose them. The common rule of investing is to never invest more than you’re willing to let go. Your emergency savings should not be invested into bitcoin.
There are several bitcoin exchanges available today, including the Immediate Bitcoin app. Choose a reputed and reliable app with the necessary features that will make your bitcoin trading and investing journey smooth.
You can also get a safe and secure wallet to store your bitcoin. Bitcoin wallets come in different types such as software, hardware, desktop, or mobiles, and wallet privacy is important. Most exchanges already offer wallets and you may want to consider this when choosing, especially if you don’t want to use different apps.
Now that you have bought some bitcoins, where can you use them? Knowing where you can use them will put a lot more things about owning bitcoins into perspective for you.
Bitcoin can now be used to pay for goods and services, depending on where you’re buying from. As more businesses and brands incorporate bitcoin as part of their payment methods, there will be more options to spend your coins. You can also send bitcoin to other people within your country and across borders. It is easier, faster, and cheaper compared to the traditional bank method.
Bitcoin has come a long way since its launch and there’s much more to expect in the coming years. However, if you’re considering buying bitcoin, you must understand the questions and answers in this article.
Pula, an African InsureTech service provider that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a $6mn Series A fundraise. The Series A fund was led by TLcom Capital, with the participation of Women’s World Banking. The new investment will be used to scale up operations in the company’s existing 13 markets across Africa. Currently, Pula has impacted over 4.3mn farmers on the continent and the new funding will also help propel its expansion into Asia to power resilience and profitability for Asian smallholder farmers.
Launched in 2015 by Rose Goslinga and Thomas Njeru, Pula designs and delivers innovative agricultural insurance and digital products to help smallholder farmers endure climate risks, improve their farming practices and bolster their incomes over time. For smallholder farmers in emerging markets, the traditional method of calculating insurance through farm visits is often unaffordable for farmers, meaning these farmers are often neglected from financial protection against climate risks.
Through its Area Yield Index Insurance product, Pula leverages machine learning, crop cuts experiments and data points relating to weather patterns and farmer losses to build products which caters for a variety of risks including drought, excessive rainfall, pests and diseases. The company’s key clientele include the likes of the World Food Programme, Central Bank of Nigeria, Zambian Government & the Kenyan Government. Pula has also launched an NDVI Livestock insurance as an offering for livestock farmers.
Speaking on the new fundraise, Co-Founder and Co-CEO at Pula, Rose Goslinga, says “When Thomas and I launched Pula in 2015, we had one goal in mind – to build and deliver scalable insurance solutions for Africa’s 700mn smallholder farmers and with our latest funding, now is the time to break into new ground. In our five years since launching, we’ve built strong traction for our products but the fact remains that across Africa and other emerging markets, there are still millions of smallholder farmers with risks to their livelihoods that have not been covered.”
“In the midst of a global pandemic, farmers need assurances now more than ever and with this in mind, it’s time to scale up. Having TLcom Capital and Women’s World Banking along on the journey with us, opens up many more opportunities as we build across the continent and beyond.”
Through its partnerships with banks, governments and agricultural input companies, Pula is at the center of an ecosystem which provides insurance to smallholder farmers and has amassed 50 insurance partners, as well as six reinsurance partners. In December 2020, the startup was named as the “InsurTech of the Year” at the African Insurance Awards 2020 held in Lagos, Nigeria. As part of the new fundraise, TLcom’s Senior Partner Omobola Johnson will join Pula’s Board.
Maurizio Caio, Managing Partner and Founder at TLcom Capital, states “In Pula, we found a company addressing a hugely underserved market in one of Africa’s key drivers of growth and with this, an opportunity for major economic upside. The potential for the insurance market for smallholder farmers in Africa is huge and under the leadership of Rose and Thomas, Pula has rapidly established a strong presence throughout the continent and has a number of high-profile clients on their books. We are confident of Pula’s potential for growth in spite of the pandemic and look forward to partnering with them as they execute the next phase of their journey.”
Christina Juhasz, CIO at Women’s World Banking, also states “Given the legions of women engaged in small-hold farming and securing the food supply for communities around the globe, Women’s World Banking is delighted to partner with Pula Advisors in providing them financial safety nets against the risks of pests, disease and climate change”.
In 2018, Pula announced the close of its $1mn seed round from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors. Previous funders have included the Bill & Melinda Gates Foundation, Mulago Foundation and Mercy Corps Social Ventures and the company presence in Africa currently extends to Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique.
For additional information on Pula, contact Cedrick Todwell of Pula | cedrick@pula.io
About Pula
Pula is an agricultural Insurance and technology service provider that designs and delivers agriculture insurance and digital products that help smallholder farmers edure climate risks,improve their farming practices and bolster their incomes over time.Currently Pula has insured 4.3 Million smallholder farmers across 13 countries.Pula has won numerous awards including the Singapore Fintech Award, Women’s world banking award,African Insurance award and Credit Suisse Innovation Award
For more information: www.pula.io
About TLcom Capital
Founded in 1999, TLcom has $200mn of VC assets under management across Africa, Europe and Israel and manages the $71mn TIDE Africa Fund, dedicated to technology and innovation for Sub-Saharan Africa at all stages of venture capital. The TLcom portfolio includes Twiga Foods, Andela, uLesson, and Kobo360 among others, and it has completed successful Africa VC exits with Upstream acquired by Actis and Movirtu acquired by BlackBerry. The TIDE Africa Fund delivers capital as part of a larger strategic, operational and financial support to entrepreneurs.
About Women’s World Banking
Founded in 1979, Women’s World Banking is the global leader in women’s financial inclusion with the mission to expand the economic assets, participation, and power of low-income women and their households through access to financial services, knowledge, and markets. Women’s World Banking’s managed funds invest in innovative, emerging market financial service providers and assist them to expand their outreach to low-income women clients with targeted, scalable solutions and to increase their gender diversity in staff and management teams. Through such women-focused strategies, the funds seek to provide higher returns on investment while promoting women’s economic empowerment.
For more information: www.womensworldbanking.org
Aston University has been named University of the Year 2020 by The Guardian, a crucial league table that focuses on student satisfaction, graduate employability and quality of teaching.
Professor Alec Cameron, Vice-Chancellor of Aston University, said:
“Being named ‘University of the Year’ by The Guardian is a fantastic testament to the hard work of all our staff and students here at Aston. I am incredibly proud of our diverse, creative and dynamic community who, particularly since the start of the coronavirus pandemic, have proven that we are truly a team.
“I’ve been particularly inspired by how our staff and students have risen to the challenge of the last nine months, as the education and assessment of our students was disrupted and we moved to online education. Our staff have worked tirelessly to enable us to prepare for a blended delivery model of teaching starting in the autumn term.
“This award is also a recognition of the work by our staff across the University to ensure we are giving students the best possible learning experience and supporting them to achieve the best possible outcomes.
“The resilience and flexibility of everyone in our community during this difficult time has been outstanding and I am delighted that they have received this accolade.”
Other notable areas include Aston University’s engagement with the Race Equality Charter and gaining the institutional Silver Athena SWAN award in 2018. The award encourages and recognises commitment to advancing the careers of women in science, technology, engineering, maths and medicine (STEMM) employment in higher education and research. The University also signed up as a member of the Race Equality Charter in November 2019.
Rachel Hall, Universities Editor at The Guardian, said:
“Aston University came top of the measure this year thanks to its sustained improvement in The Guardian University Guide, along with its commitment to sustainability and a focus on enabling students from a wide range of backgrounds to achieve their potential, including graduate employability.”
Matt Hiely-Rayner, compiler of the University of the Year award and the University Guide, added:
“Aston University has been on an upward trajectory since our 2017 Guide, when the University fell out of the top 50 for the first time. Climbing in steady increments, the University has reached 30th position and has achieved this while catering to a very diverse student body.
“Meanwhile the University has been taking its commitment to sustainability very seriously. Scoring 63% in the people & planet rankings of 2019, Aston University has the ninth highest score of the institutions included in our rankings.”
The awards usually take place at an event held in London, but this year the ceremony was hosted online due to Covid-19. A full list of winners is available on The Guardian website.
For details on application and generous scholarship opportunities at Aston University, you may visit https://www2.aston.ac.uk/international-students/your-country/africa or contact Babajide Ogundeji, our Regional Manager for Africa via b.ogundeji@aston.ac.uk or africa@aston.ac.uk or call +2348136091160
The advancement in technology over the years is evident and transcends all sectors, including the finance sector. How we process payments has evolved from the trade by barter method to paying via currencies. However, while using a physical bill has proven effective so far, new forms of technology have introduced a different, secure, and seamless method of payment known as a digital currency.
Cryptocurrencies are categorized under digital currency and secured by cryptography which helps keep them transparent. In a 2018 study, researchers found that the cryptographic system is a strong and reliable medium for new digital currencies. As digital currencies continue to make the news, it begs the question of whether it will transform payments or be a threat to government-issued currencies.
Bitcoin is a popular cryptocurrency and now more than ever, investors are taking deliberate steps to own bitcoin after seeing its tremendous impact in the finance sector in recent years. Bitcoin is the first decentralized peer-to-peer payment network that was launched and several other cryptocurrencies have come to exist after it. Regardless, it has managed to maintain its top position and has improved its authority in the finance industry.
Bitcoin has consistently improved since its launch in 2009 and just recently in December 2020, it surpassed its last all-time high of $19,783 and pushed to over $23,000 with a current market cap of over $428 billion. The statistics are mind-blowing and it’s beginning to look like a threat to government-issued currencies.
What’s more, is that as the traditional currencies, you can use bitcoin to pay for goods and services, which is much easier and cheaper. Most people would do anything for a low-cost transaction that would take only a few minutes. There are also several improved exchanges such as the bitcoin champion that allows an easier way to trade and invest in bitcoin at your convenience.
Everything about bitcoin points towards a better and seamless way to make payments and also invest for the long haul. But the question of if it will ever replace government-issued currencies leaves us an indefinite answer.
Despite how popular bitcoin is and the authority it has gained over the years, the chances of it replacing the traditional currency completely are still bleak.
This is due to several factors such as the decentralization of bitcoin, which makes it a little complex to track transactions and reverse failed or wrong transactions. It could also be due to scalability, as bitcoin is yet to get a global audience and coordinate hundreds of thousands of transactions like a traditional bank would.
To gain the trust of the global audience, some more work will still have to be done, as most people would have to be convinced to choose digital payments over what they’ve been used to for many years.
However, bitcoin is gradually infiltrating the financial sector globally and with its rapid growth recently, there might be more room for it to thrive.
The future of bitcoin looks promising and with the constant inflation in the traditional currencies, more people will continue to embrace the digital payment option. It might take a while but digital currency is the future!
The world seems to be talking about bitcoin a lot more today than in previous years since it was launched in January 2009. A study on the issue of competing currencies shows how bitcoin has emerged as the most popular currency over the years. As much as this compels more people to join the train and invest in bitcoin, experts would often advise that no one should invest in what they do not understand. It might be a little intimidating at first when you’re just getting started as a beginner in bitcoin but there are key things you must know before you make your first move.
The crypto industry is a relatively new one and many people are still trying to understand how it works or what makes the prices move. You will be doing yourself a great disservice by venturing into the industry without first getting a proper understanding of how it works. If you understand what you’re getting yourself into, you will make better-informed decisions, which can improve your success rate in the bitcoin market.
Do your homework by doing proper research. Don’t stop at a few random articles on the web but rather read more in-depth research articles, watch some explanatory videos, and seek the help of experts if you have access to them. It will be worth it in the end. You don’t have to be perfect before making your first move but you also don’t have to be completely naive.
A bitcoin wallet helps you store your coins and some of these wallets also allow you to trade on the same app. Choosing a bitcoin wallet is an important decision to make, as this concerns your finances and you can’t afford to play games with it. Look for important features on the app such as the payment methods and the security measures, which must include two-factor authentication. You also want to ensure it is easy to use and understand for a beginner. Some of these apps have resources to guide you on how they work and an example is this page on how Bitcoin Digital App | The Official Bitcoin Digital Platform works. More importantly, ensure you can guarantee the reputation and transparency of the app before you start using it.
Perhaps you have heard how beneficial it is to trade and invest in bitcoin but you must also be careful not to rush into the market. Regardless of what you know about crypto, based on your research, it is never advisable to take giant leaps from the onset. Take baby steps and gradually work your way up the ladder as you gain more knowledge and understand better how it works. Be reminded that digital currency is still new in the financial industry and no one can tell what exactly the future holds for it.
Anyone can invest in bitcoin whenever they are ready but as a beginner who is just trying to penetrate the crypto market, these tips are important. Learn the basics before you get started.