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Writer 5 Other Likely Challenges E-Naira Will Face in Nigeria After The App's Disappearance From Google Play store

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The E naira is the first digital currency to be launched in Nigeria. Just days after the app was made available on the google play store, it has been reported to have been taken down. According to the Cable NG, the reason for the removal from the play store app was because it was said to violate policies.

Many Nigerians gave negative reviews about the app after encountering problems during registration. These problems were what caused the poor ratings and eventual removal because the app couldn't meet the minimum functionality policy

Although the E naira is a good innovation, seeing as it aims to facilitate digital transactions. However, there are some challenges that are bound to come up when trying to implement this digital currency. In this article, we would examine the likely problems likely to be encountered while implementing the app...
Writer CBN E-NAIRA : The introduction of digital currency in Nigeria
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The Central Bank of Nigeria (CBN) is set to launch the eNaira Today 24th of October 2021 unfailingly.

Let us take a closer look at the eNaira, what it means for you, and how you can position to take advantage of its launch.

What is the e-Naira?

The e-Naira will be a digit representative of the paper Naira currency issued by the Central Bank of Nigeria.

The eNaira will be a “complementary” legal tender in Nigeria, having the same exchange value as the Naira, and maintain a “parity of value” with the Naira.

The e-Naira will not earn any interest to holders.

The e-Naira is built on a blockchain open ledger technology.

Creating the eNaira on the blockchain means you cannot have a duplicate or fake eNaira.

Each eNaira note will be unique.

Is the e-Naira a Stablecoin?

A stable coin is a cryptocurrency backed by reserves.

The keyword is reserves, but what kind of reserves?

Stable coins are backed by holding an equal equivalent of FIAT money like the US dollar.

News Bitcoin ETF Will Make It Hard for Retail Traders
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Bitcoin ETFs are investment instruments, similar to stocks, so investors don't have to deal with real Bitcoins.
Bitcoin ETF twitter.jpg
According to Woo, on his Twitter account, tweeting, "If the Bitcoin ETF is approved then the ETF effectively provides Bitcoin storage to hedge funds through the chain, a profit incentive, because of the dominance of futures contracts then Bitcoin futures ETFs have the potential to suppress prices and volatility. So that Bitcoin futures will be more expensive than the spot price because large long positions have been opened by hedge funds. To make a net profit, will sell the futures contract while buying the spot. Most of the amount of Bitcoin in circulation will be controlled by hedge funds, whales, institutions and banks, so they can manipulate the price of Bitcoin and the Bitcoin ETF will be a hoax for retail investors. There are several alternatives or possible tricks and manipulations that will be carried out by big players, one of...
News Flokinomics Just launched yesterday already up 2400%
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Totally Crazy, Elon Musk Fans created a new token named after his dog Elon Musk, just yesterday it was launched it has gone up 2400%, this token is called Flokinomics FLOKIN. On Sunday Oct 03, 2021 it was trading at $0.000002254 and according to Coinmarketcap as of Wednesday morning it was up 2400% for 24 hours. The current price of Fokinomics is $0.00005005. Critics lamented the behavior of Elon Musk who always pumped crypto at his own pace so that it would be detrimental to retail investors.
News SEC Approves ETF for 'Bitcoin Revolution Companies', Portfolio Includes Tesla and Twitter
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The new ETF from Volt Equity will give investors exposure to a range of companies like MicroStrategy and Square that hold crypto.​

In brief​

  • The SEC approved an ETF consisting of companies holding large amounts of Bitcoin on their balance sheet.
  • The ETF's portfolio will include around 30 companies, including Tesla and PayPal.
  • The approval comes as the crypto world continues to wait for the SEC to approve a pure Bitcoin ETF.

As the crypto world awaits anxiously for the Securities and Exchange Commission to approve a Bitcoin ETF, the agency took another step in that direction by approving a fund called the "Volt Bitcoin Revolution ETF."

Managed by San Francisco-based Volt Equity, the fund will provide retails investors with exposure to Bitcoin by creating a portfolio of...
News El Salvador Mines Bitcoin Using Volcano
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Not long ago we heard that Bitcoin has become a legal tender in El Salvador, This time the country is horrendous by mining Bitcoin using Volcano. El Salvador experts say it will provide about 95MW of geothermal energy that is 100% sneezing and zero emissions from volcanoes. Although the value is still very small, but for the first time Bitcoin mining using Volcana in El Salvador has earned around 0.00599179, US$ 270, but it has shown the success of mining Bitcoin using Volcano.