If you have been paying attention, you would probably have caught up that “crypto is bae” right now. Bitcoin surged up to $20k dollars in late December 2020. At the time of reporting, the number is closer to $45k. Astonishing? Yes. While Twitter has been going wild since Elon Musk made posts about different cryptocurrency, a whole segment of Nigeria’s upwardly mobile population have come to terms with the whole movement and they have done so massively.
Read more about FinTech
Interestingly, Ethereum is experiencing its own small boom at the time of reporting as it has been inching ever closer to the $1000 mark. All in all, it is a good time to be a crypto investor.
Many start-ups have thus risen to the challenge of linking Nigerians to bitcoin and other cryptocurrencies via dollars. I had not quite come across any that did it via Nigerian naira until LoadNG. LoadNG is particularly interesting for its bitcoin or any crypto to naira automation which is not even common if you know the space well.
Established in 2019, the start-up recently signed celebrity ambassadors to boost awareness further. The idea according to CEO, Tunde Buremo, was to smooth over the challenges of crypto enthusiasts who find it immensely tricky and complicated converting crypto to naira which is a practical need. The app is available via Google Playstore and Apple’s App Store.
Sign up to the Connect Nigeria daily newsletter
The system works seamlessly with both Blockchain and Paxful in converting crypto to naira and straight to your local bank. When selling via Paxful, the system directs you through your account and allows you to confirm your transaction from there.
With Blockchain, the system creates a custom wallet for you on the app and allows you to confirm your transaction directly from there.
Now note, this system specifically targets an audience that wishes to transact Bitcoin into naira. It’s pretty specific like that. It is certainly useful as more and more Nigerians invest in bitcoin. It seems timely that we are knowing of it since bitcoin is currently on a roll.
Featured Image Source: App Load NG
Got a suggestion? Contact us: firstname.lastname@example.org