Crypto companies in ghana
Binance is considered a safe cryptocurrency exchange. Binance provides 2-factor authentication and offers both multi signature wallets and cold storage options. With millions of active users, an international market, and strategic investors on board, Kraken, joins Coinbase and Binance to become the big three cryptocurrency exchanges in the global market. Kraken provides cryptocurrency to fiat trading and provides price information to Bloomberg Terminal. Kraken is considered one of the safest bitcoin exchanges around.
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- Metaverse and its connection with cryptocurrency
- Ghana has the 9th highest rate for cryptocurrency ownership out of 27 countries
- African Bitcoin Exchange Busha Raises $4.2 Million Seed, Led By Jump Capital
- Digital trust, delivered
- Blockchain business Valereum to buy 90 percent of Gibraltar Stock Exchange
Metaverse and its connection with cryptocurrency
Africans and people in emerging markets missed out on the first set of opportunities that technological advancements brought to the world. Computers, the internet, fintech, artificial intelligence, any tech you can name except mobile tech , people in these regions have always had to play catch-up.
But new technologies such as crypto and web3 provide hope to Africans to play a massive role in defining what it looks like in the years to come. Regional inflation, weak currencies, high unemployment rates and economic uncertainty are a couple of reasons behind this growing adoption.
With these issues not leaving Africa anytime soon, we should expect stronger crypto growth despite several governments' efforts to stifle it.
Peer to peer transactions and retail trading are two of the biggest drivers of crypto adoption on the continent. Before starting Nestcoin, founders Yele Bademosi and Taiwo Orilogbon led the charge at Bundle Africa, one of the continent's well-known crypto trading platforms.
Bademosi was the director of Binance Labs in Africa, overseeing the incubation and development of blockchain projects, when he decided to start Bundle as CEO in Orilogbon was the company's chief technology officer. With Bundle incubated within the ecosystem of the largest crypto exchange platform, Bademosi had lofty ambitions for the company.
By the time he left, three years after, Bundle was only live in Nigeria and Ghana with fewer than , active users. Bundle's numbers might not seem impressive from a global standpoint.
Still, it is when compared with its peers in Africa, as no local crypto platform serving just Africa has reached a million customers.
Bademosi thinks this is because crypto trading alone cannot drive mass adoption of blockchain and crypto-native applications. To create products that can scale to a million users or several million in the next couple of years, companies should build applications that are more accessible for the everyday person, which is the basics of web3. The second iteration has been more around like decentralized finance and non-custodial trading of financing activities," said Bademosi.
And that's sort of what we are trying to do with Nestcoin. The Connecticut-based venture capital and holding company has more than 60 crypto and blockchain subsidiaries and investments across 30 countries, including LUNO, CoinDesk and Bitso. However, the difference is that while DCG focuses on western markets and building products for HNIs and institutional clients with custodial features, Nestcoin primarily builds , invests and operates web3 and non-custodial products that are more accessible for everyday people in frontier markets.
Nestcoin's products cut across Decentralized Finance DeFi , media, digital art and gaming. The company, which Bademosi describes as a venture collective, launched its media arm called Breach last year to create bite-sized and informative crypto content for the average African.
It also set up Metaverse Magna MVM , a gaming guild that introduces users to the world of play-to-earn crypto-powered games like Axie Infinity. The NFT-based online video game developed by Sky Mavis has been a sensation since but is expensive to play.
What MVM has done is to buy Axies and lend to players in its guild while employing a revenue-sharing agreement with them. Bademosi said MVM has had more than 2, applications since its launch. However , only gamers are currently live on the platform, a number he's looking to increase to 1, before next quarter for context, some of the largest guilds have a player size of around 2, to 3, Nestcoin also hopes to introduce its DeFi projects by Q2 this year.
In addition to that, the company will be exploring ways in which content creators on the platform can earn crypto while educating its 6, subscribers with structured learning paths. The company's pre-seed round, the second-largest in Africa and largest in Nigeria and sub-Saharan Africa right now, will provide it with the firepower to build these products and several others in its pipeline.
A part of the funds will also go into investing in web3 projects. The company has done so in a handful of projects but the only publicly disclosed deal is in Lazerpay, which allows businesses to accept payments in crypto. It recently backed AltSchool Africa, an entry-level tech talent project introducing Africans to software engineering and web3 courses like blockchain.
Nestcoin has involved itself with other projects like collaborating with crypto-exchange platform Bitsika to launch a social token for Davido, an African music artiste. Bademosi said Nestcoin might raise an independent fund to invest and participate in such deals and projects going forward. That said, there's a growing concern that web3 is falling into similar pitfalls for which its enthusiasts blame web2 projects.
Asides from centralization, many think web3 projects such as NFTs are becoming expensive to participate in and enriches only a select few. Bademosi disagrees. According to him, crypto trading, the most accessible form of web3, was accused of the same issues years ago but has become cheaper to use. He referenced his time at Microtraction, an early-stage investment firm he founded in to back African startups.
But today, there's a whole ecosystem of companies making it easier and cheaper to buy other cryptocurrencies, not just bitcoin, he said. So the same way you don't think of crypto trading as a luxury activity, that's just because of the evolution of the last three to four years," the chief executive continued.
He also pointed out the success of Axie Infinity in the Philippines, where thousands of gamers who couldn't earn money with Web 2. He said if Nestcoin can replicate something similar in Africa, a market with over million mobile gamers, wealth will be distributed among millions of people and not a select few.
Web3 and crypto is that equalizer between the distribution of talents and the distribution of opportunities," he said. The company, with team members in nine countries, has onboarded strategic web3 and traditional investors to back its mission. Growing up, Kevin Song witnessed his Korean immigrant parents build and grow a grocery store business in Brooklyn, New York. The experience left a lasting impression on Song. The singer on celebrating her individuality, making resolutions and why real self-care is "hard work.
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Ghana has the 9th highest rate for cryptocurrency ownership out of 27 countries
Africa is booming in terms of cryptocurrency adoption, according to the Geography of Cryptocurrency Report by Chainalysis — a blockchain analysis company that provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 50 countries. Most of the activity from Africa is going to Binance — the largest cryptocurrency exchange in the world in terms of trading volume. It provides platform for trading various cryptocurrencies. Yet, the Nigerian Central Bank recently directed banks to stop offering services to cryptocurrency providers. With Nigeria excluded from what Mr.
African Bitcoin Exchange Busha Raises $4.2 Million Seed, Led By Jump Capital
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Digital trust, delivered
These are the core obsessions that drive our newsroom—defining topics of seismic importance to the global economy. Our emails are made to shine in your inbox, with something fresh every morning, afternoon, and weekend. In the last decade, bitcoin and other cryptocurrencies and their underlying blockchains have teased eye-catching use cases for their technology, from non fungible tokens NFTs and decentralized finance DeFi , to decentralized autonomous organizations DAOs. Despite their enthusiastic adoption around the globe, not everyone is convinced that cryptocurrencies are anything more than a dangerous fad ask Jamie Dimon , Warren Buffet , Nassim Taleb , or the Chinese government. Central banks are happier to pursue their own digital currencies. And while Facebook, in its curious rebrand to Meta , hopes crypto will form a central role in its future success, FT columnist Jemima Kelly believes it will be as useless in the metaverse as it is right now in the real world.
Blockchain business Valereum to buy 90 percent of Gibraltar Stock Exchange
Cryptocurrency is digital money. This type of currency uses blockchain technology, which is considered secure because it is capable of establishing distributed consensus even among untrustworthy parties. Cryptocurrency blockchains resemble old-fashioned bookkeepers' ledgers, except that the ledger is electronic, and everyone with access to the ledger can also be the bookkeeper. Investors worldwide have invested and are starting to invest in cryptocurrency. While Bitcoin is likely the best-known digital money, thousands of cryptocurrencies already exist. Cryptocurrency can be considered as one of the newest and most exciting asset classes that is available to investors. When you think of investing in cryptocurrency, you might think about buying and holding one or more crypto coins. Buying cryptocurrency directly is probably the most common way to add crypto exposure to your portfolio, but when it comes to investing in cryptocurrency, you have a few different options:.
Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralized network with a transparent set of rules, thus presenting an alternative to central bank-controlled fiat money. Log into your BFX account on www. Click NEXT. Bitcoin is neither legal nor illegal in Ghana.
Pivoting to blockchain or bitcoin is proving lucrative for some lesser known companies — and it's reminding people of the dot com bubble. Pivoting to blockchain is proving to be lucrative for some otherwise unheard of companies. The growing trend is reminding some people of the dot-com bubble of the late 's. Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more.
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Blockchain company Valereum has announced plans to acquire 90 percent of the Gibraltar Stock Exchange GSX as it bids to create a trading venue where cryptocurrencies can be used to buy listed securities. Over recent years, authorities in Gibraltar have adapted regulations with the aim of encouraging crypto and blockchain firms to the British territory. The enclave is the third-most popular location for crypto hedge funds to domicile, after the Cayman Islands and the US, according to a report by PwC.