Technext Technext
  • Home
  • Stories
    • Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      17 hours ago 0
      22
    • ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      21 hours ago 0
      61
    • Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      1 day ago 0
      34
    • ‘We are Reviewing our Rates,’ Bolt Tells Boycotting Drivers in Kenya
      ‘We are Reviewing our Rates,’ Bolt Tells Boycotting Drivers in Kenya
      2 days ago 0
      74
    • Possible Reasons why NCC Resumed SIM Sales and Registration Before Concluding its Audit
      Possible Reasons why NCC Resumed SIM Sales and Registration Before Concluding its Audit
      2 days ago 0
      58
    • uduX Partners Piggyvest to Help Nigerians Invest in their Favorite Musicians
      uduX Partners Piggyvest to Help Nigerians Invest in their Favorite Musicians
      2 days ago 0
      57
    • Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      3 days ago 0
      78
    • Breaking: FG Lifts Ban on Sale and Activation of Sim Cards From April 19
      Breaking: FG Lifts Ban on Sale and Activation of Sim Cards From April 19
      3 days ago 0
      124
    • Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      3 days ago 0
      51
  • Features
    • Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      Jamb Isn’t the First! Here are 10 times Nigerian Govt Agencies have Been Hacked in the Last Decade
      3 days ago 0
      78
    • Ramadan Kareem: 5 Ways Tech Can make Ramadan Easier for Your Body and Soul
      Ramadan Kareem: 5 Ways Tech Can make Ramadan Easier for Your Body and Soul
      5 days ago 0
      109
    • Identity Theft, Foolproof Scams: How Data Breaches in Tech Companies can Cost You
      Identity Theft, Foolproof Scams: How Data Breaches in Tech Companies can Cost You
      6 days ago 0
      119
    • CBN’s BVN Verification Ban: What it Means for Nigerian Fintechs and their Customers
      CBN’s BVN Verification Ban: What it Means for Nigerian Fintechs and their Customers
      1 week ago 0
      448
    • ‘Limiting Mindsets Prevent Women from Making the Most of Tech Communities’ – Temilade Adelakun
      ‘Limiting Mindsets Prevent Women from Making the Most of Tech Communities’ – Temilade Adelakun
      1 week ago 0
      177
    • Electronic Transactions Increased by 77% to N2.3bn in 2020 as USSD Transactions Increased by 80%
      Electronic Transactions Increased by 77% to N2.3bn in 2020 as USSD Transactions Increased by 80%
      2 weeks ago 0
      175
    • The dying cybercafe culture is still driving ICT penetration in low-income areas
      The dying cybercafe culture is still driving ICT penetration in low-income areas
      2 weeks ago 0
      246
  • Reviews
    • Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
      1 day ago 0
      34
    • Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      Fundall is Helping Nigerians Gain Financial Intelligence and Make Investments
      3 days ago 0
      51
    • Lagos is the PoS Capital of Nigeria with about 70% of Total Transactions Carried out in 2020
      Lagos is the PoS Capital of Nigeria with about 70% of Total Transactions Carried out in 2020
      4 days ago 0
      109
    • Tech Events this Week: Cashless Africa, Deloitte’s Black in Tech Summit and Others
      Tech Events this Week: Cashless Africa, Deloitte’s Black in Tech Summit and Others
      6 days ago 0
      116
    • Global Tech Roundup: Twitter Wanted to Buy Clubhouse for $4 Billion!
      Global Tech Roundup: Twitter Wanted to Buy Clubhouse for $4 Billion!
      1 week ago 0
      151
    • Scholarships Africa Connects Students to Hundreds of Int’l Scholarships in Minutes
      Scholarships Africa Connects Students to Hundreds of Int’l Scholarships in Minutes
      1 week ago 0
      164
    • Godzilla Vs Kong Raked N17m in 3 days but Cinema Revenue Dropped 10% in March
      Godzilla Vs Kong Raked N17m in 3 days but Cinema Revenue Dropped 10% in March
      2 weeks ago 0
      177
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    Is the BuyCoins App the Ultimate Solution to Cryptocurrency Trading Challenges?

    Anibe IdajiliAnibe Idajili
    July 31, 2018
    Is the BuyCoins App the Ultimate Solution to Cryptocurrency Trading Challenges?

    Before I dig into the crux of what this post is about, I need to first emphasize one of the key reasons Cryptocurrency is of an important point of interest.

    Bitcoin craze was supposed to take us to the moon, literally. However, in the past one year, we have seen the prices of cryptocurrencies take a downward slope, the dip occurred so many times. Although the virtual currencies have retained some measure of admiration, the scare of a track record of price instability and a lingering concern of its long-term viability is nagging.

    Because I don’t have a crystal ball, I have no idea what the very short-term portends. However, if #Bitcoin can manage to hold $8k, it will have demonstrated a MAJOR decline in downside volatility…and corresponding increase in upside stability!

    — Andy Hoffman (#HODLBTC) (@Andy_Hoffman_CG) July 31, 2018

    Related Post: Trouble for Bitcoin? CBN Calls Cryptocurrency a ‘Gamble’, Set to Make Announcements

    The interest in Bitcoin and its ‘brothers’ seemed to have peaked in Nigeria during the heydays of the Mavrodi Mondial Moneybox (MMM) Ponzi scheme. It all started when MMM’s operators began asking their victims to use Bitcoin following the Central Bank of Nigeria’s clamp down on their activities.

    Recall that about 3 million Nigerians lost varying amounts of money to the Ponzi scheme but as far many were concerned Bitcoin was now the future.

    Nigeria has experienced one of the strongest ‘bitcoin hype’ waves since the inception. Countries which have less efficient payments systems, less liquid currencies and more volatile exchange rates are in theory more likely to see a surge in demand for alternative payments system. pic.twitter.com/bs3EqHWrjj

    — Crypto Experts (@CryptoExpertsNL) July 29, 2018

    Being the risk-takers that we naturally are, many are still willing to wager on the cryptocurrency train. It is for this potentials investors that Bitkoin Africa has developed the BuyCoins app, an instant cryptocurrency exchange in Nigeria.

    Related Post: Again, Bitcoin’s Price Plunges to Below $10,000 as Regulations Stiffen

    A brief about BuyCoins

    In February this year, with the sudden popularity in the cryptocurrency market, Bitkoin Africa launched BuyCoins, an app that supports multiple cryptocurrencies. Before then, Nigerians who were interested in buying Ethereum and Litecoin had to first buy Bitcoin and transfer it to a foreign exchange.

    New BuyCoins App Enables Nigerians to Buy Cryptocurrencies on their Smartphones – https://t.co/bppWkMv4Dq via @BitcoinAfricaio #bitcoin #litecoin #bitcoincash #ether #nigeria pic.twitter.com/gATCzj7HZS

    — BitcoinAfrica.io (@BitcoinAfricaio) July 29, 2018

    Although it was previously on Beta mode and only accessible through a waitlist developed by the company, the transactions on the platform are instant and very seamless. To move up the waitlist, users had to sign up and refer people. The more people they referred to the platform, the faster they moved up the list.

    Related Post: Bitcoin Gold Rush! Despite all odds, Bitcoin Now Trades for $10,903

    How the BuyCoins App Works

    Unlike Bitkoin Africa, the BuyCoins app is not peer-to-peer, so users would not have to wait or look for traders before they can buy or sell. In fact, users can sell and buy cryptocurrency with ease and within a minute.

    https://technext.ng/wp-content/uploads/2018/07/buycoins-video.webm

    First, you have to sign up for a free account on the BuyCoins using either the iOS or Android applications.

    For users who already have a Bitkoin Africa account, simply sign in with your email address and password. Then, you will be required to verify your identity using your Bank Verification Number (BVN), bank account, and phone number.

    Then,  you can begin to buy or sell cryptocurrency within seconds!

    Our portfolio company @bitkoinafrica just launched buycoins, a mobile app for Nigerians to easily and securely buy/sell BTC, ETH, LTC, BCH with NGN. It’s available on both iOS and Andriod today! s/o to @timigod and @ireaderinokunhttps://t.co/LZRC661eLs

    — Yele Bademosi (@YeleBademosi) July 21, 2018

    Interestingly, there are no transaction fees; you only need to select a coin and pay with your bank account or debit card.

    Related Post: Cryptocurrency Crisis: Bitcoin’s Price Falls As China Bans Domestic Exchange

    My Take on the BuyCoins App

    The BuyCoins app seems like an excellent option to invest your money since it has eliminated a number of key limitations.

    However, like some Nigerians, I am a bit unsure of what extent the prices of cryptocurrencies are being influenced by market volatility. This is particularly because bitcoin has gone through its craze-and-sober moments in the recent past and still does not appear to be out of the woods yet.

    On the flip side, BuyCoins would have to contend rigorously with the existing entrenched suspicion for platforms that demand sensitive data input such as BVN, account details etc. It will take a great dose of credibility for users to be so trusting to let out these details, even for investment purposes.

    Therefore, my advice is–if you must invest, do so wisely.

    This article does not necessarily reflect the opinion of Technext.ng and its owners.

     


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email
    Anibe Idajili

    Anibe Idajili

    Anibe is a Freelance Writer, Content Developer and Editor. Her works refute edges and ignore limits. She's a fan of old school jams.

    AIMS Partners Google and Facebook to Launch Masters Program in Machine Intelligence
    Next article
    AIMS Partners Google and Facebook to Launch Masters Program in Machine Intelligence
    Update: Three Nigerian Students Win Gold at 2018 World Adolescent Robotics Competition in China
    Previous article
    Update: Three Nigerian Students Win Gold at 2018 World Adolescent Robotics Competition in China

    Related Posts

    • Stories 17 hours ago

      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others

      Social Media Roundup: Twitter in Ghana, Ahmed Musa Rejoins Kano Pillars and others
      Stories, Women in Tech 21 hours ago

      'Banks Told me I was too Young to Buy Stocks' - Tomie Balogun on why she Ventured into Investments

      ‘Banks Told me I was too Young to Buy Stocks’ – Tomie Balogun on why she Ventured into Investments
      Reviews, Stories 1 day ago

      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach

      Global Tech Roundup: Facebook Faces $3.4Bn Fine for Latest Data Breach
    • Stories 2 days ago

      'We are Reviewing our Rates,' Bolt Tells Boycotting Drivers in Kenya

      ‘We are Reviewing our Rates,’ Bolt Tells Boycotting Drivers in Kenya
      Stories 2 days ago

      Possible Reasons why NCC Resumed SIM Sales and Registration Before Concluding its Audit

      Possible Reasons why NCC Resumed SIM Sales and Registration Before Concluding its Audit
      Stories 2 days ago

      uduX Partners Piggyvest to Help Nigerians Invest in their Favorite Musicians

      uduX Partners Piggyvest to Help Nigerians Invest in their Favorite Musicians

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • Marek Zymslowski’s Latest Story Shows How Nigerian Startups Could Be Vulnerable to Powerful Godfathers
      Marek Zymslowski's Latest Story Shows How Nigerian Startups Could Be Vulnerable to Powerful Godfathers
      February 15, 2019 0
    • After 14 Years and $170m Trapped in Iran, MTN is Set to Sell its Stakes in the Middle East and Focus on Africa
      After 14 Years and $170m Trapped in Iran, MTN is Set to Sell its Stakes in the Middle East and
      8 months ago 0
    • Data Privacy Day 2020: CSEAN President Calls on President Buhari to Assent to Data Protection Bill
      Data Privacy Day 2020: CSEAN President Calls on President Buhari to Assent to Data Protection Bill
      January 29, 2020 0
    • MultiChoice to List on the Johannesburg Stock Exchange By February
      MultiChoice to List on the Johannesburg Stock Exchange By February
      January 22, 2019 0
    • Tony Elumelu Foundation to Launch Resource Platform, TEFConnect, for African Entrepreneurs this October
      Tony Elumelu Foundation to Launch Resource Platform, TEFConnect, for African Entrepreneurs this October
      September 20, 2018 0

    Follow Us

    Latest Tweets

    • technextdotng RT @gbemmygbenga: Could these have been the practice board for them former Dubai billionaire Bros them..now lately of American prison? Simi…
      about 8 hours ago
    • technextdotng A likely reason the government has ordered the resumption of SIM reg could be due to complaints by several Nigerian… https://t.co/azNWYXX2j2
      about 15 hours ago
    • technextdotng RT @KVanderhoydonk: Ugandan Fintech Startup, Numida Closes $2.3M Seed Round to Scale across Africa https://t.co/8uGi1BrVSG via @technextdot…
      about 17 hours ago
    • technextdotng Over the last 10 years, there have been several attempts but not all have been reported. Based on Technext’s findi… https://t.co/l20ICn5Giq
      about 17 hours ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    For many people, managing money and knowing the ri For many people, managing money and knowing the right opportunities to invest in is still a challenge. A survey of over 2,000 youths in Nigeria, Kenya, Uganda, Tanzania and Cote D’Ivoire by Geopoll revealed that more young Nigerians only save after spending than their counterparts in other countries.

More youths in Tanzania and Uganda set aside a fixed amount to save than in Nigeria and Ivory Coast, who are more likely to save what remains after spending

The popularity of apps like @Piggybankng and @Cowrywise has made more people curious about saving, investing and creating a financial strategy to grow their money. However, there is need for more apps that take a more deliberate and friendly approach towards gaining financial intelligence and map out a sustainable path to monetary stability.

This is where Fundall comes in. @get_Fundall is a fintech service whose app is available for download on android and iOS.
.
.
.
.
.
#Fundall #LifeStyleCard #FinancialPlanning #Africa #Fintech #Finance #Financial #Nigeria #SaveMoney #Payments #Nigeria
    @theflutterwave has partnered with American eComme @theflutterwave has partnered with American eCommerce fraud detection firm, Forter to enable merchants to identify legitimate buyers on their Flutterwave platforms. This effort is aimed at detecting fraudsters masking themselves as legitimate buyers on the payment platform.

The partnership touted as the first of its kind in Africa will enable merchants to accurately identify legitimate buyers from fraudsters in the hopes of increasing transaction approvals and reducing friction in the purchasing experience, all without the fear of fraud.

Read more on Technext.ng
.
.
#ecommerce #crypto #marketplace #Merchants #fraudsters #Fraud
    Things are gradually returning to normal as the nu Things are gradually returning to normal as the number of covid-19 cases continues to fall. Although it may take a while before we hug people or shake hands without second thoughts, things are getting better.

Only 523 new cases were recorded between April 6 and 13. This is a slight increase compared to the 497 people that tested positive over the previous week. Two weeks earlier, Technext reported that 584 people tested positive.

The numbers show a sustained decrease in the spread of infections across the country. Indeed the Lagos state government is now confident enough to allow event centres and relaxation centres to increase their crowd capacity. Along with that, here are other developments during the week.

Read more on Technext.ng
.
.
.

#COVID19 #Nigeria #Education #Vaccine #Government
    Today, @Google unveils a Doodle to posthumously ma Today, @Google unveils a Doodle to posthumously mark the 74th birthday of Nigerian music legend and highlife maestro Oliver de Coque, one of Africa’s most prolific recording artists of all time.

The Doodle, created by Lagos-based graphic artist and illustrator @OhabTBJ, pays tribute to the guitarist who died in June 2008 at the age of 61, following a heart attack. The creative inspiration was drawn from De Coque’s love for the guitar, his energetic performance style, his unique music brand, and his love of tradition and culture.
.
.
.
.
.
.
#afrobeats #music #music #musiclover #naijamusic #musician #musicvideo #musicislife #musicproducer #musically #musicblog #musicjunkie #Africangiant #musicjournalism
    The use of Point of Sale (PoS) machines in Nigeria The use of Point of Sale (PoS) machines in Nigeria is growing but a majority of this growth is concentrated in the country’s economic capital, Lagos. According to NIBSS Instant Payment stats, the state recorded the largest number of PoS transactions in the country.

The report shows that Lagos accounted for about 70% of the total volume of PoS transactions in 2020. This represents a 100% growth in the volume of PoS transactions in the state as the volume of PoS transactions rose from 226 million in 2019 to over 453 million at the end of 2020.

Read more on Technext.ng
.
.
.
#finance #Nigeria #Lagos #Tech #POS #ATM #Money #Cash #Funds #TechNews
    Cryptocurrency trading company, @Coinbase, is list Cryptocurrency trading company, @Coinbase, is listing on the stock exchange today for $250 per share under the ticker ‘COIN’. With a share count of 261.3 million, this gives it a valuation of $65.3 billion.

This valuation is less than the $100 billion valuation that it got from @NASDAQ. At its current valuation, however, the crypto-based startup shows growth from recent years due to uptake in its subscriber base and generated revenue.
.
.
.
.
.
.
.
#stockmarkettimes #coinbase #coinbaseipo #uslisting #bitcoin #cryptocurrency #nasdaq #cryptocurrency #btc #forex #nft #bitcoinnews #cryptocurrencies #bitcoins #tech #investment #defi #investing #entrepreneur #invest #business #cardano #eth #coinbase #tesla #dot #polkadot #xrp
    Load More... Follow on Instagram

    Random News

    • After Falling Short of its $100bn Projections, Coinbase’s Valuation is not Certain Yet
      After Falling Short of its $100bn Projections, Coinbase's Valuation is not Certain Yet
      4 days ago 0

      Cryptocurrency trading company, Coinbase, is listing on the stock exchange today for $250 per share under the ticker ‘COIN’. With ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy