Every civilisation has been built on one invisible infrastructure. The Romans built roads. The Industrial Revolution built electricity. The Internet built information. The next economy may be built on something far less tangible.

Trust.

That sounds counterintuitive because we have spent centuries believing that money is the foundation of every economy. It isn’t. Money has never been the foundation; it has simply been the mechanism through which trust is exchanged.

Every major financial innovation, from coins and paper notes to credit cards, online banking and blockchain, has been humanity’s attempt to solve the same problem: “how do we help strangers trust one another without ever meeting?”

Seen through that lens, today’s financial revolution looks very different.

Most discussions about digital finance revolve around whether cash will disappear. We debate mobile wallets, central bank digital currencies, cryptocurrency, real-time payments and digital banking. Yet these conversations often mistake the visible change for the actual transformation.

The real shift is not that money is becoming digital. The real shift is that trust is becoming programmable. That single idea explains why the financial landscape is changing faster than many people realise.

For decades, finance has depended on institutions to create confidence. Banks verified identities, governments authenticated currencies, contracts relied on lawyers, payment networks validated transactions and every exchange involved an intermediary whose primary role was to reassure two parties that the system could be trusted.

Technology is quietly rewriting that arrangement.

Today, identities can be verified digitally. Transactions can be authenticated within seconds, smart contracts can execute agreements automatically once predefined conditions are met, and artificial intelligence can detect suspicious activity before humans notice it. Increasingly, confidence is being built into the infrastructure itself rather than added afterwards.

This is why I believe we need a new way to think about the evolution of finance, not as a journey from cash to digital payments, but as “three generations of financial trust”.

The first generation was Physical Trust. Trust was tied to tangible assets like gold, paper currency, handwritten signatures and face-to-face interactions. Confidence came from what people could physically see and hold.

The second generation was Institutional Trust. As economies expanded, institutions became the guarantors of financial confidence.

Banks, regulators, payment networks and financial intermediaries enabled transactions at a scale impossible through personal relationships alone. Trust shifted from physical objects to established organisations.

We are now entering the third generation: Programmable Trust.

Here, trust is embedded directly into technology. Verification happens automatically. Payments settle in real time, financial services become integrated into everyday experiences instead of existing as separate destinations. Increasingly, people interact with trusted systems rather than trusted institutions alone. That distinction is more profound than it first appears.

Many organisations still measure digital transformation by counting how many services have moved online, but digitising an existing process is not the same as redesigning how trust flows through an economy. Converting paperwork into an application does not automatically create a digital financial ecosystem.

This explains why some economies process millions of digital transactions every day yet continue to face friction, inefficiency and limited financial inclusion.

The missing ingredient is rarely another payment platform. More often, it is interoperable infrastructure, trusted digital identity, consistent regulation and systems capable of working together seamlessly.

In other words, the future of finance will not be determined by who builds the fastest application. It will be determined by who builds the most trusted ecosystem.

This has significant implications for Africa. The continent has rightly earned global recognition for accelerating digital financial adoption.

Yet the next opportunity extends beyond increasing transaction volumes. The greater challenge is designing financial infrastructure where payments, identity, data, compliance and commerce interact intelligently rather than operating in isolation.

That is where long-term competitive advantage will emerge.

Perhaps the greatest irony of all is that the more advanced finance becomes, the less visible it will appear.

People rarely think about the internet protocols that power a video call or the cloud infrastructure supporting an online purchase. Likewise, future generations may hardly think about payment rails, settlement networks or blockchain architecture. Financial experiences will simply happen securely, instantly and almost invisibly.

History suggests that successful technologies eventually disappear from our attention not because they become less important, but because they become so reliable that we stop noticing them altogether.

So, are we entering a fully digital financial economy? Perhaps that is no longer the right question.

A more useful question is whether we are entering an economy where trust itself becomes digital infrastructure because if that is true, then the organisations shaping the future of finance are not merely moving money more efficiently.

They are redesigning how entire economies create confidence at scale and that may prove to be the most valuable innovation of all.

*Bidemi Oke is the Chief Executive Officer of FlashChange, a fintech platform focused on secure digital asset exchange. He is an entrepreneur and vibrant leader, recognised for driving innovation and redefining access in the financial technology industry.

The post Are We Entering a Fully Digital Financial Economy? appeared first on Tech | Business | Economy.

This resulted from households and small firms looking for faster and cheaper ways to pay and receive funds.

The IMF says this transition has moved beyond early crypto users. It is now a payment channel in Nigeria’s financial system, even if it’s still outside traditional banking rails.

Between July 2023 and June 2024, Nigeria recorded about $59 billion in crypto inflows. That placed the country among the most active crypto markets globally.

The IMF also notes that Nigeria accounts for roughly 60% of stablecoin inflows in sub-Saharan Africa since 2019.

A smartphone and internet connection are usually enough to receive remittances or send payments abroad within minutes. Costs are also lower in many cases when compared with bank-led transfers.

The World Bank estimates that sending $200 to sub-Saharan Africa costs about 9% of the transaction value on average. That compares with a global average of around 6%. Stablecoins have become a cheaper alternative in some of these flows.

On the domestic side, the naira weakened through 2023 and 2024, while inflation stayed high. At the same time, access to foreign exchange was tight. Many users turned to dollar-pegged assets as a way to protect value or pay overseas suppliers.

When the Central Bank of Nigeria restricted banks from servicing crypto exchanges in 2021, activity moved further into peer-to-peer platforms and informal digital channels.

What started as small-scale crypto trading now overlaps with everyday financial needs, especially payments and savings in foreign currency terms.

Looking at the benefits, transfers move faster, costs can fall, and access improves for people outside formal banking systems. Small businesses also use stablecoins to settle cross-border trade more quickly.

However, the IMF warns that broad use of dollar-pegged tokens can weaken the role of the naira. When more value moves into dollar-based digital assets, domestic monetary policy becomes less effective in influencing real economic activity.

There are also issues around oversight. Transactions pass through digital wallets and crypto platforms that do not always fall under traditional banking supervision. That makes it harder for regulators to track flows in real time.

Financial integrity risks cannot be overlooked. Faster and less transparent channels can create space for illicit transactions, even if most users are acting within the law.

These challenges are not unique to Nigeria, but the scale of adoption here makes them more visible.

Policy responses are already taking shape. The Securities and Exchange Commission in Nigeria has introduced policies for virtual asset service providers, while the Central Bank of Nigeria has issued guidance on how banks should interact with crypto-related firms.

The IMF suggests that regulation alone will not be enough. It recommends a stronger approach that keeps innovation open but reduces risk.

One priority is macroeconomic stability. A stronger and more predictable naira would reduce the need for dollar-linked alternatives in the first place.

Another is better supervision. Transparent regulations for stablecoin issuers, aligned with frameworks emerging in places such as the European Union, Singapore, Hong Kong, Japan and the United States, could help close regulatory gaps while still allowing innovation.

Data collection is also a gap. Regulators need better insight into how stablecoins move through the system, especially where they convert into naira or interact with local banks.

Finally, on payment infrastructure, Nigeria has made progress with instant payment systems and regional efforts like the Pan-African Payment and Settlement System. Still, gaps in cross-border transfers still push users toward alternative digital routes.

Stablecoins are unlikely to replace traditional finance. They are instead filling gaps that already exist in cross-border payments.

The post Nigeria Sees Surge in Stablecoin Use as IMF Flags Policy Risks appeared first on Tech | Business | Economy.

From remittances and cross-border trade to inflation hedging and digital savings, millions of Africans now interact with crypto not as speculation, but as utility.

Yet while the market is maturing, many African crypto brands are still communicating like Silicon Valley startups, fast, flashy, informal, and overly obsessed with hype. That approach may have worked in the era of early adoption. It will not sustain trust in the era of mainstream finance.

The future belongs to crypto brands that communicate like banks.

This does not mean becoming boring, bureaucratic, or detached. It means understanding that financial services are built on trust, clarity, consistency, and accountability.

Customers can forgive a fashion brand for vague messaging. They cannot forgive a financial platform for uncertainty.

Across the continent, trust remains one of the biggest barriers to financial innovation. Consumers have witnessed collapsed schemes, frozen wallets, rug pulls, and overnight disappearances disguised as “investment opportunities.”

Many people do not distinguish between legitimate blockchain businesses and opportunistic fraudsters. To the average customer, they often look the same: sleek logos, social media promises, referral bonuses, and aggressive influencer marketing.

That is where communication becomes strategic.

Banks spend decades refining the language of confidence. They explain risk. They publish policies. They reassure customers during uncertainty.

They understand that silence during a crisis can trigger panic. Crypto brands operating in Africa must adopt the same discipline.

When customers ask where their funds are stored, how transactions are processed, what happens during delays, or how disputes are resolved, the answers should not be buried in jargon-filled FAQs. They should be visible, simple, and repeated consistently across channels.

In practical terms, this means moving away from the startup culture of “move fast and explain later.” Financial trust does not work that way.

If a platform experiences downtime, users should hear from the company immediately. If regulations change, brands should educate users calmly and clearly. If there are risks, they should be disclosed honestly, not hidden beneath marketing slogans.

African regulators are also paying closer attention to the digital asset sector. From the Central Bank of Nigeria to the Securities and Exchange Commission, institutions increasingly want visibility, compliance, and consumer protection. This should not be seen as hostility. It is a signal that crypto is entering the serious room of finance.

And in serious rooms, communication standards matter.

The brands that will thrive are not necessarily the loudest on social media. They will be the most credible. They will issue timely updates, publish transparent policies, train customer-facing teams, respond professionally to complaints, and speak with the calm authority expected of custodians of value.

Take remittances as an example. Many Africans use crypto rails because traditional transfers can be expensive or slow.

But if a user sending school fees from United Kingdom to Nigeria encounters a delay, speed is no longer the only concern. Assurance becomes everything. A prompt explanation can retain a customer. Silence can lose them forever.

This is where African crypto brands have a strategic advantage. They understand local realities better than many global competitors. They know the pain of currency volatility, settlement delays, and fragmented payment systems. But local relevance alone is not enough. They must pair innovation with institutional-grade communication.

At FlashChange, for instance, the broader lesson is clear: in a trust-sensitive market, users do not only buy rates or speed. They buy confidence. Every message, update, customer response, and public statement contributes to that confidence.

The next growth phase of crypto in Africa will not be won solely by technology stacks, token listings, or referral campaigns. It will be won by reputation.

Banks learned long ago that money moves where trust lives. Crypto brands on the continent must learn the same lesson, and fast.

Because if you are handling people’s value, their savings, or their transfers, you are no longer just a startup. You are a financial institution in the public mind. Communicate accordingly.

* John Kokome is the Corporate Communications Manager at FlashChange, a fintech platform redefining secure digital asset exchange. With experience across fintech, cryptocurrency, telecoms, and development communications in Africa. He currently leads strategic storytelling, reputation management, and stakeholder engagement initiatives at the company, focusing on building trust, transparency, and financial literacy in the digital assets space. John’s work sits at the intersection of policy, technology, and public perception, with a strong emphasis on Africa-first narratives and responsible innovation. He has contributed opinion pieces and thought leadership articles on governance, youth empowerment, branding, and Nigeria’s evolving digital economy.

The post Why African Crypto Brands Must Communicate like Banks, not Startups appeared first on Tech | Business | Economy.

“The 2020 UN Report on Trade and Development, estimates illicit losses of USD 88.6 million each year in Africa alone. In 2019, 2,1% of all global crypto transactions globally were categorised as illicit, in 2020 this number dropped to 0.34% of all global cryptocurrency transactions.

This translates to roughly USD 10 billion globally,” she says.

Reasons for rise in financial crime

According to Crouwel, there is a perfect storm of three main reasons for the rise in financial crimes across the continent.

“First, financial education levels tend to be lower in Africa and combined with financial hardship caused by Covid-19, citizens are seeking good returns. Second, crypto is a new technology, so users are uncertain about how it works and how to protect themselves.

Finally, personal data in Africa has not been well protected compared to Asian and European markets, even though POPIA was recently introduced in South Africa, one of the continent’s largest economies. This makes it easy for people with bad intentions to get hold of personal information,” she explains.

Among its 9 million customers across 40 countries, in around 95% of Luno’s current financial crime cases, customers have been scammed.

This varies from traditional ‘get-rich-quick’ scams to cases where customers are scammed into surrendering their login information to fraudsters, who sometimes pretend to be from Luno.

Regulation, or the lack thereof, is a significant factor. “Luno fully supports regulation of crypto and believes that it will help to combat fraud. But the reality is that even highly regulated sectors experience financial crime, especially scams,” she says.

Given that crypto is so new, crypto businesses have a significant role to play in teaching customers how to stay safe and protecting customers.

Luno uses external blockchain monitoring companies and restricts crypto movements when the data indicates that customers are at risk.

Says Crouwel, “Interestingly, there is no specific demographic for victims, despite widely-held perceptions that scammers target either the ignorant elderly, or young mavericks looking to make a quick buck or previously disadvantaged users.”

Keeping customers safe

Luno recently underwent the rigorous process of independently verifying the existence of customer funds by means of a proof of reserves report prepared by Mazars South Africa. “The proof of reserve report confirms to crypto holders that their wallets do in fact contain the cryptocurrency stated and avoids the dangerous situation of thinking they have digital assets which don’t exist.”

In addition, Luno conducts financial audits, security audits, audit of reserves and compliance audits. “We invest heavily in advanced technology that allows our dedicated investigations team to access  real time, tech-driven insights, which means we are able to respond much more quickly to behaviour that has been identified as risky. We have always said that Luno is a safe platform to secure and store cryptocurrency and we now have external validation of this,” she says.

The financial services industry tracks patterns and fraud margins. “While risk appetite differs between institutions, traditional financial service providers like banks would generally consider overall fraud loss thresholds of 5% or even as high as 8% as acceptable. In fact, according to a recent PWC report on fraud losses, most fraud is not even further investigated. Luno’s threshold is much lower at between 0,5% and 1,5% depending on the region. While it is a bold statement, based on these numbers Luno can confirm that our security is better than bank-grade.”

Customers also need to be alert and careful. “We also count on our customers to keep the best interest of their funds in mind when dealing with cryptocurrency. We recently embarked on an email campaign to our customers to explain the risks and what to look out for.”

Tips to keep your crypto safe

• Use a recognised, reputable exchange, as the significant investment in security will mean that your money remains safe.
• The weakest link is human beings. It is very rare to see actual hacking in crypto financial fraud.
• It is true that crypto is volatile but be aware that if something sounds too good to be true, it usually is.
• Treat your login information with as much respect as you do your bank login details.

The post Luno Speaks as Crypto Crime Drops Against Rising Global Illicit Financial Transactions appeared first on Tech | Business | Economy.

The Nairaex brand gave tech experts, Developer teams, Founders, blockchain entrepreneurs, policy experts and tech businesses an educative and indelible impression at a recent Blockchain Summit held in Lagos, showcasing emerging technologies like cryptocurrencies, NFTs and other innovations in the industry.

According to Nairaex, sponsoring the event is a part of its commitment to supporting blockchain development and driving education in Nigeria to stimulate technological growth.

Speaking at a panel session on Web3 and regulations, Yomi Bilewomo, Nairaex Growth Manager, said that, “There is room for the cryptocurrency industry to contribute to the rules and regulations governing them. Tech enthusiasts must explore a way for the government to have both the centralized and decentralized systems obtainable in Nigeria.”

He added, “We believe that with proper regulations and support, the Cryptocurrency market can be an economic game changer for the country.”

During the Summit, the hackathon also sponsored by Nairaex, saw judges from the tech and blockchain industry; Shard Labs Blockchain Engineer, Mayowa Tudonu; TalentQL and AltSchool Africa Co-founder, Sultan Akintunde; Africhange Chief Operating Officer, Ekene Egonu, and BetDemand Chief Executive Officer, Akinyemi Akindele and Crevatal Co-founder, Clement Hugbo award three Web3 teams for originality, design, relevance and innovation with a $2500 cash prize.

Chemotronix Team emerged winner by receiving $1,250 (approximately N752,000) for building a prototype Internet of Things (IoT) device as part of its solution to reduce carbon emissions and other climate-related problems in Africa using the blockchain.

Team Block Baddies won $750 (about N450,000) for creating a digital blockchain library that could be useful to African writers, while Team JPS earned $500 (Over N300,000) for its NFT market for digital fashion assets.

While conversing with pressmen at the Summit, Yomi Bilewomo stated that funding the hackathon was an attempt to encourage more innovative blockchain-based solutions and urge more industry players to build blockchain communities in Nigeria.

Nairaex also gave 20 Nigerian tech enthusiasts free tickets to attend the Summit through an engaging media campaign.

Since inception, the company has been at the forefront of driving blockchain innovation, education and regulations while providing a safe and secure platform for its users to fund their accounts easily and quickly.

Nairaex, a product of Africhange Technologies, is a leading cryptocurrency exchange platform that enables on and off ramp bitcoin transactions.

The post Nairaex Calls for Improved Industry Policies, Empowers Web3 Teams with over N1 million appeared first on Tech | Business | Economy.

Powered by the Blockchain Nigeria User Group (BNUG), Nigeria’s largest, most vibrant, and most intelligent blockchain/cryptotech community, the programme is an immersive experience and growth summit focused on the technologies of the 4IR and their intersection with blockchain technology.

Since 2017, BNUG has organised a series of annual conferences and the Lagos Blockchain & FutureTech Conference/Exhibition, themed “Immerse and Grow in FutureTech”, is the 13th edition.

The two-day programme will be held at the Civic Center, Ozumba Mbadiwe Street, Victoria Island Lagos Nigeria. It is expected to be the most advanced, impactful immersive tech and growth conference granting participants access to Virtual Reality Rooms, GameFi platforms, and interactions within different metaverse worlds.

Mr. Stanley Jacobs, former Business Development Manager for MasterCard Africa, VP FintechNGR, and Chief Executive at Stanbic IBTC Financial Services Limited, will chair this year’s conference, with the Special guest of honour being Mr. Kashifu Inuwa Abdullahi, Hon. Director General National Agency for Technology Development NITDA. 

Prof. Pat Utomi, Founder/ CEO, Centre for Values in Leadership (CVL), Founding Senior Faculty, Lagos Business School-Pan African University is expected to deliver the Keynote address.

“Our previous conferences have attracted key figures like Prof Kingsley Muoghalu, Dr. Mrs. Oby Ozekwesili, Dr. Andrew Nevin, Dr. Segun Aina, and several eminent personalities favourably disposed to the positive impact of Blockchain Technology in our polity as keynotes.”

Other stakeholders expected to speak at the conference include:

• Founders of leading blockchain and NFT companies;
• NFT artists;
• Famous collectors;
• Metaverse founders and developers;
• Crypto lawyers and legal entrepreneurs.

The organiser’s objective, Blockchain Nigeria User Group (BNUG), is to create a pro-innovation environment for the blockchain industry, meeting the growing global demand for accessible, transparent and democratic financial and collaborative systems. 

Now transitioning into a DAO, BNUG is a sub-set of Organisation of Blockchain Technology Users (OBTU), a duly incorporated Trust with CAC, and an association desiring Self-Regulatory Organisation (SRO) status for the Blockchain Technology Industry in Nigeria and across Africa.

How to register

To be a part of the life-changing Lagos Blockchain & FutureTech Conference/Exhibition, register now while the portal is still open. 

The post Be Part of the Growth Stimulating Lagos Blockchain & FutureTech Conference/Exhibition by BNUG appeared first on Tech | Business | Economy.

• With the Nigerian currency devaluation, people are running to other assets, especially virtual assets that can at least hold value over time and cryptocurrency just happens to be one of them
• People lose money in crypto because of FOMO – Fear Of Missing Out
• Cryptocurrency and blockchain technology in general are essentially the future of value transactions 
• If you want to retire rich, it’s best to start early and before diving in, you must understand the market, technology, the ups and downs, tricks of the trade, the investment landscape, macroeconomic factors, and everything that affects it
• If you’re 25 to 50, you can take a bit more risk; there’s a lot of time for you to work, earn and recover even if there is a loss
• You should have a long term view, it’s not a get-rich-quick scheme

What’s your view about cryptocurrency? How much do you know about it? Can it help you retire rich? What’s your take on this? 

Well, the lack of or inadequate understanding of cryptocurrency has held a lot of people back from enjoying the benefits it brings in the long term. While some hold back from investing in crypto, others go ahead to invest, lose so much and get back out.

Dr Oluseyi Akindeinde, the Co-founder and CTO of Digital Encode Limited emphasised that this loss comes with inadequate understanding of the crypto space, whereas, it can give you a return rate that no other investment in the world can give and is infinitely high and valuable.

Despite the initial ban on cryptocurrency in Nigeria, it still managed to get a boom in the country’s market. What would you say was the responsible factor for this?

I don’t actually think it was banned, what was banned was the financial services sector having anything to do with it, it wasn’t banned in the sense people could not buy or trade but they just didn’t want the bank to be a conduit through which people would interact with cryptocurrency. You’re free to buy it off exchanges using peer-to-peer and impressing transactions but you can’t go through the bank. 

If you look at the statistics, Nigeria is probably the second largest country that trades in cryptocurrency by volume. It’s not farfetched, with the Nigerian currency devaluation, people are running to other assets, especially virtual assets that can at least hold value over time and cryptocurrency just happens to be one of them.

Secondly, it is decentralised and stored on the blockchain so it’s not like a bank account where the government can freeze your account or stop you from spending your money. It is actually a digital asset that can be stored on the blockchain and is censorship resistant, meaning that there is no one that can have access to it. 

Over time, it increases in value and it will help you preserve access to your funds better because we know the naira is losing a lot of value and in order to forestall that, a lot of people, especially the millennials are investing in crypto. It is easier to buy, unlike opening a bank account. You have to go through a lot of processes, look for guarantors and all.

For crypto, it’s online, open an account with an exchange and you have it already in your wallet. That’s why lots of Nigerians are going towards that digital asset sector.

What about situations where people lose so much in crypto?

As with any market, there are ups and downs. You have to remember that the reason why crypto became very popular is that it started going up in price, when Tesla, Elon Musk and others started talking about it, they brought it to a lot of people’s consciousness.

The truth is, for every market, there’s the up and down cycle just as we have with the traditional financial system. So most people that bought in at the very top have made a lot of money, although there has also been losses. 

The requirement is that you buy low and you sell high. The time to buy is when the price is low and the time to sell is when the price is high but you will find out that most people have what you call FOMO – that’s the fear of missing out. When the price of crypto is going up, people are more incentivised to buy, but when the price goes down, they are no more incentivised to buy, they start selling.

They need to wait for the price to come down before buying, and selling when it’s going up. 

Secondly, most people should have a long-term view of it. So it’s not something that you want to buy today and sell tomorrow, you must have a year, two years or even three, four years in view. You should think of it as some kind of savings. 

Would you say cryptocurrency is an essential requirement in the lives of everyone?

Well, not in the lives of everyone, it depends on your investment outlook. If you’re a younger person, fresh out of the university, you’ve just gotten your first job, there’s room to take more risk. Cryptocurrency and blockchain technology in general are essentially the future of value transactions. If you’re 25 to 50, you can take a bit more risk; there’s a lot of time for you to work, earn and recover even if there is a loss.

It is an asymmetric bet because even if you invest $1,000 in cryptocurrency, the highest you can lose is $1,000 but the highest you can gain is infinity. That money can become $100,000 within 5 years. It’s a bit of a risky play, it’s an asymmetric risk.

With the continuous increase in the dollar rate, should we be rest assured that there would be no loss in crypto investment or there can be a downfall irrespective?

It’s a market, any market, whether it’s a housing market, stocks, shares and bonds, every market has its ups and downs, even business, there’s a market cycle. There’s no guarantee, nobody knows what will happen in future, if everybody knew, everyone would be buying it.

But, if you’re willing to stay long term, if your outlook is anywhere from two years to five years, you can be rest assured that the price will go up because the crypto itself is a definitionary currency especially Bitcoin. 

There’s a limited amount that you would have so after a while, you wouldn’t be mining and there wouldn’t be new ones being distributed and the ones in existence would automatically become more valuable.

But the thing is that you should have a long-term view, it’s not something that you put money in today, you make money tomorrow and it’s not a get-rich-quick scheme. 

Is it possible for a person to leave other jobs and focus on investing in crypto?

Of course, some people have done that. But before I advise anybody to do that, you must understand the market, the technology and what you’re getting into. Just like with everything, if you start any business today, there’s no guarantee that you would make money, but make sure you know the ups and downs, the tricks of the trade, and understand how everything works before you resign from your current job to focus on crypto. 

Once you do that and you have the conviction that this is a future then of course you can go for it. There are so many people that have also done it, they’ve resigned from their lofty jobs to start investing in crypto and it’s working out perfectly for them 

What is the assurance that cryptocurrency can help a ‘healthy investor’ retire rich?

As I said, you can only do that if you have a long-term view. Taking myself as an example, I started buying Bitcoin when one was less than $500, today, one Bitcoin is over $23,000 so imagine the gain and I started this in 2016. Just within a period of six years, $500 has become $23,000. Imagine if someone had bought 10 for $5,000, it would automatically be worth about $230,000 now. There’s no other investment in the world that would have given you that kind of return. 

That’s why I always say if you want to retire rich, it’s best to start early and then it’s also best to be buying and accumulating it in steps, buy like $100 worth or any amount each month, consistently so that you can do what is called dollar cost averaging. 

Over a year or two, you would have accumulated so much, just leave it and let it do its thing and by the time you’re retiring at the age of 60 or 65, obviously, it would have increased in value. But it is not a short-term thing, it’s a long term. If you are planning to do it for a long time, you have to start now and you must be consistent with the investment, otherwise, you would not retire rich.

It’s not a get-rich-quick scheme, it’s not automatic that you would become rich but with consistent effort, adequate understanding of the technology, market, the investment landscape, macroeconomic factors, and everything that affects it. Ultimately, anyone that gets in at the right time and is consistent in investment will retire rich. 

How do we term ‘now’ as a good time to start when one Bitcoin is over $23,000? How would a graduate earning between N100,000 to $150,000 be able to take part in this?

We can start small. Crypto is like gold; if you want to buy one ounce of gold, you don’t go out to buy the entire thing, you can buy 0.01 ounce first and go up gradually. 

For instance, someone that is earning N100,000 to N150,000 can be setting aside N10,000 every month. It doesn’t have to be Bitcoin, Ethereum is less than $2,000 and there are others that are smaller. So you do this for two or three years and let it increase in value. You don’t have to buy one at a go, buy in bits over a period of time.

Is there a best platform to buy crypto from or anyone goes?

There are food platforms but one has to be very careful. There are some licensed in Nigeria — Binance, Gundo, Luno, FTX, Quidax, Bundle, Patricia and there wouldn’t be need for fear that they would crash one of these days. The only thing you should not do is buy from someone on Telegram, WhatsApp, etc, they are full of scammers. 

Rather than giving a friend or anyone to trade for you, it’s best you do it yourself so someone doesn’t run away with your funds, it’s not hard at all. Just open an account on Binance for instance, register and all the processes are there to direct you on what to do. 

Recently, a lot of cybersecurity issues have been linked to crypto, what are your views with regards this?

Generally there are cybersecurity issues, not just in crypto. Most organisations are also hacked and anything that stores value, hackers are going to target it. What we advise is that you should be careful with how you access your crypto, don’t store your password, there will always be attacks on crypto so it’s a normal thing, just be careful. Most of the exchange too are implementing security measures to forestall those hacks as well.

The post Will Cryptocurrency Make You Retire Rich? Oluseyi Akindeinde Expounds appeared first on Tech | Business | Economy.

In a period of rapid digital innovation and economic realignment, the integration of digital assets into the national tax framework is one of the most consequential developments our fintech ecosystem has seen.

While digital assets have previously been acknowledged in Nigeria’s regulatory conversations, the NTAA marks one of the clearest attempts to place them within a coherent fiscal structure.

The Nigeria Tax Administration Act (NTAA) 2025 clarifies how digital assets fit within the tax system. Income from trading, transfers, mining, staking, airdrops, or compensation in crypto is now formally taxable. It is now firmly positioned within Nigeria’s taxable economy and recognized as part of mainstream financial activity.

This is not a specialized crypto tax. It is a declaration of relevance and contextual clarity, aligning modern financial behaviour with long-standing tax principles.

This reform, at its best, is taxation as recognition. Recognition that digital assets are not speculative distractions but economic instruments of consequence.

With that recognition comes responsibility, but also stability, confidence, and long-term credibility, creating the conditions for a more resilient digital economy.

However, the moment is not without tension as we know that regulation is only as effective as its execution. The concern shared by industry leaders is not taxation itself but complexity.

When compliance becomes layered with unclear processes, overlapping authorities and inconsistent interpretation, participation begins to feel like punishment rather than partnership.

For small traders, startups, and everyday users, even well-intentioned rules can become walls that discourage engagement rather than encourage accountability.

As leaders in business, regulation and community, we must work together to simplify compliance, improve reporting technology, and educate users. Compliance should feel manageable and fair, not confusing or punitive.

When systems are easy to understand and use, people are naturally more willing to follow them and integrate formal processes into their daily financial activity.

Nigerians do not reject responsibility, we only reject systems that feel inaccessible. Taxation must be clearly tied to value, transparency, efficiency and public service. Only then does it become a rational choice rather than an emotional burden.

If implemented wisely, the NTAA does not weaken innovation, it stabilizes it. It moves crypto from speculation toward institutionalization and from uncertainty toward durability. It provides a framework for trust, which is the currency on which all sustainable markets ultimately depend.

Nigeria’s digital asset economy is already global in relevance. The opportunity now is to ensure it grows not in spite of regulation, but through regulation, in a way that is confident, accountable, and sustainably integrated.

This inclusion is not the conclusion of Nigeria’s crypto journey. It is a checkpoint, a moment to align ambition with structure and creativity with responsibility.

How we navigate this transition will determine whether Nigeria remains a market of adoption or becomes a leader of sustainable digital finance in Africa and beyond.

About the Author

Bidemi Oke is the Chief Executive Officer of FlashChange, a fintech platform focused on secure digital asset exchange. He is an entrepreneur and vibrant leader, recognised for driving innovation and redefining access in the financial technology industry.

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A popular influencer insists that buying a particular token is the smartest financial move you will make this year.

Everywhere you look, someone is pointing you toward the next big crypto opportunity that may give more returns than Bitcoin. It feels exciting, fast, and full of promises. It also feels like everyone else is getting rich without you.

This feeling has a name. The fear of missing out, often called FOMO, has become a driving force in the world of cryptocurrency.

Many people today are drawn into digital assets by the hope that their money will rise quickly in value.

Phrases like going to the moon have become part of everyday conversations about crypto. But behind all the excitement, there is also a need for understanding.

Crypto can be rewarding, but it can also be confusing and risky. To make wise decisions, we need to look beyond the hype.

The Superbowl Effect and the Power of Influence

One moment that showed the cultural rise of crypto was Superbowl LVI. During one of the most watched events in America, several crypto companies paid for prime advertising time.

They wanted millions of viewers to see that crypto was the future and that they should join in. Coinbase, a crypto exchange, even displayed a simple QR code on the screen. This alone led to more than twenty million visits to their website in one minute.

But the hype had consequences. If a viewer invested one hundred dollars in Bitcoin on the Monday after the Superbowl, that investment would be worth about forty eight dollars by July of that same year. This means more than half the value disappeared. If all twenty million viewers had invested one hundred dollars each, their combined loss would be over one billion dollars.

This example reveals something important. Excitement can push people into quick decisions, but excitement does not erase risk. Crypto can rise fast, but it can also fall fast. Understanding it is essential for anyone thinking about investing.

What Exactly Are Crypto Assets?

Crypto assets are digital assets. They exist only in electronic form. While they were originally created as a way to make payments, many people today treat them as investment tools. The idea is simple. You buy a crypto asset like Bitcoin or Ethereum and hope its value increases.

But this hope comes with risk. A risk is the chance that your investment may lose value. This has happened many times in the crypto world.

Bitcoin, the first and most popular crypto asset, has experienced large rises and large declines. Even though it is considered one of the most stable coins, it has lost almost seventy percent of its value during some periods.

Crypto asset market capitalization refers to the total value of all units of a particular asset. In November 2021, all crypto assets combined reached a value of about $2.9 trillion dollars. By mid 2022, almost $2 trillion dollars of that value had vanished.

Some people, including well known investors like Bill Gates, question the idea of crypto as a strong investment. Gates argues that crypto value depends mainly on what someone else is willing to pay, rather than on a product or service that benefits society.

To understand crypto properly, it is helpful to look at where it comes from.

The Technology Behind Crypto

Distributed Ledger

Blockchain technology forms the heart of crypto assets. A blockchain is a digital ledger that records transactions. For example, when people buy or sell Bitcoin, the information is stored on one shared public ledger.

Every transaction must be verified before it becomes official. This is done by a network of powerful computers called miners. Miners solve complex math problems to confirm each transaction and are rewarded with new Bitcoin.

Once a group of transactions is verified, it is placed into a block. Each block connects to the one before it, creating a long chain. This is why it is called a blockchain.

Decentralized System

The blockchain is not stored in one place. It is spread across many computers around the world. This means no single government, company, or person controls it.

The creator of Bitcoin designed it this way to avoid control from any central authority. Unlike traditional digital payments like PayPal or bank transfers, Bitcoin allows people to transact directly with one another. This is known as peer to peer interaction.

Cryptographic Protection

The word crypto comes from a Greek word that means hidden. Cryptography protects information and ensures secure communication. With crypto transactions, special encryption keys act like digital signatures to confirm a user is the real sender. This creates trust without needing a central authority.

Why So Many Crypto Assets Exist

Once the world understood blockchain technology, developers began creating many different crypto assets. These assets are like different apps built on similar technology, each with a unique purpose.

Here are common types of crypto assets:

1. Cryptocurrencies like Bitcoin are used for payments, storage of value, and trading.
   
2. Stablecoins like Tether are designed to keep a stable price by matching the value of another asset such as the dollar.
   
3. Meme coins like Dogecoin are inspired by internet humour and often have no clear use.
   
4. Non fungible tokens often called NFTs represent ownership of unique digital objects.
   
5. Utility tokens like MANA allow users to participate in specific digital platforms.
   

The variety shows both creativity and speculation in the crypto world.

The Dark Side of Popularity

Crypto has become a target for scams. The Federal Trade Commission reported that scammers stole more than one billion dollars in crypto from forty six thousand people since 2021. Young adults between 20 and 49 years old are most affected. Almost half of these scams began with a message or advertisement on social media. Many scams promise huge profits but end in complete loss. Once you send your crypto, there is no way to reverse the transaction.

Regulation and Protection

Authorities are paying closer attention to crypto. The United States Securities and Exchange Commission, also known as the SEC, has increased its efforts to supervise crypto activity. In 2022, the agency doubled the size of its crypto enforcement team.

At the time, President Biden also issued an executive order to address both risks and benefits of crypto.

Despite these efforts, crypto is still not monitored as closely as traditional investments.

Smart Choices Before You Invest

If you ever choose to invest in crypto, consider these points:

1. Only use money you can afford to lose.
   
2. Be cautious of celebrity endorsements. Many are paid promotions and may not reflect real financial wisdom.
   
3. Do your own research before trusting online suggestions.
   
4. Protect yourself from scams by avoiding offers that promise guaranteed profits.
   

Celebrities and influencers may also invest in the assets they promote, which means they benefit from price increases. Their priority may not be what is best for you.

Learning Crypto the Easy Way with MEXC

You can learn about crypto in a simple and confident way by using MEXC. The platform provides clear learning materials, practical guides, and beginner friendly explanations that help you understand how crypto works without confusion.

MEXC Learn offers lessons on key topics such as blockchain, trading, and risk management, while the MEXC app gives you real time market updates that help you learn by observing real activity.

Through its live sessions, community discussions, and helpful support team, MEXC makes it easy for anyone to grow from a curious beginner into an informed crypto user.

Conclusion

Cryptocurrency began as an innovative way to make payments. Over time, it became a global investment trend. Blockchain technology changed how we record transactions and opened the door for thousands of digital assets. Yet crypto remains unpredictable. It has created wealth, but it has also caused significant losses.

To navigate the crypto world safely, knowledge is essential. Look beyond the hype. Study the risks. Be aware of scams. Never invest more than you can handle losing. Crypto is fascinating and full of potential, but it demands careful understanding.

That understanding begins with asking the right questions and not letting excitement make decisions for you.

Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.

The post Understanding Cryptocurrency Beyond the Hype appeared first on Tech | Business | Economy.

Young Africans are building wealth, discovering global markets, and taking control of their finances through crypto. It is a revolution driven by innovation, smartphones, and a hunger for financial freedom.

Yet, just like any gold rush, the excitement comes with danger. Scams, security threats, and poor decisions have cost many traders their hard-earned money. As crypto adoption expands, staying safe has become just as important as making profits.

This article explores how African crypto traders can protect their hard-earned assets, avoid common mistakes, and thrive in a fast-growing digital economy.

Understanding What You Invest In

The first step to staying safe in crypto is understanding what you are investing in. Every cryptocurrency represents a project or purpose, but not every project is built to last. Some tokens solve real problems, while others exist only to exploit investor excitement.

Before buying any coin, take time to research. Look into who created it, what it aims to achieve, and whether it has a clear roadmap. A flashy website or a trending hashtag is not proof of value.

The more you understand a project, the less likely you are to fall for false promises. In crypto, information is your first layer of protection.

Choosing Trustworthy Platforms

Your choice of exchange determines how safe your crypto journey will be. Trusted platforms like MEXC provide strong security systems, transparent operations, and global access, all essential for peace of mind in a volatile market.

A good exchange protects your funds through technology like two-factor authentication, withdrawal passwords, and robust data protection.

It also ensures you trade at fair prices with deep liquidity and fast order execution. When you trade on reliable platforms, you not only safeguard your assets but also position yourself for sustainable success.

Securing Your Digital Wallet

Your wallet is the digital vault for your assets, and protecting it must be your top priority. Hot wallets (those connected to the internet) offer convenience but are vulnerable to hacks. Cold wallets (offline storage such as hardware devices) are far more secure for long-term holdings.

Never share your recovery phrase or private keys with anyone, no matter how convincing they sound. No legitimate company or support staff will ever ask for them. The moment someone gains access to your private keys, your funds are gone forever.

Building Safe Digital Habits

Technology alone cannot protect you if your habits are careless. Many traders lose funds not because of bad investments, but because they fail to stay vigilant. Using weak passwords, ignoring security updates, or trading over public Wi-Fi are all risky mistakes.

Always double-check website links before logging in. Turn on two-factor authentication. Use strong, unique passwords for each platform.

And most importantly, think twice before responding to offers that seem too good to be true. In the world of crypto, if something sounds effortless and guaranteed, it is almost certainly a scam.

Recognizing Modern Scams

Crypto scams have become more sophisticated, and even experienced traders can fall victim. Fake investment schemes promise high returns and disappear overnight. Fraudsters create look-alike websites of legitimate exchanges. Others impersonate well-known traders or brands to gain trust.

Before you click, confirm. Check official handles, contact verified support channels, and rely only on recognized sources such as MEXC’s official website and social media pages. Protecting your funds means slowing down, questioning everything, and keeping your guard up.

Managing Risk with Discipline

Crypto markets are fast-moving and unpredictable. Prices can surge or crash within hours. The smartest traders understand that risk is part of the game, and they plan for it. They never invest more than they can afford to lose, they diversify their portfolios, and they always use tools like stop-loss orders to minimize potential damage.

On MEXC, tools such as Copy Trading allow newcomers to learn directly from experienced professionals. It helps users follow proven strategies while maintaining full control over their money and level of risk. Knowledge, not emotion, is what keeps you profitable in the long run.

Learning Is the Real Investment

The safest traders are the most informed ones. Knowledge is the most valuable currency in crypto. That is why MEXC Foundation has launched programs like IgniteX, which empower students and young Africans with blockchain education, mentorship, and scholarships.

Through resources like MEXC Learn, anyone can access free, easy-to-understand materials on topics ranging from trading and blockchain basics to advanced Web3 innovation. The more Africans learn, the better prepared they become to navigate the digital future responsibly.

Think Beyond Quick Profits

True wealth in crypto does not come from chasing short-term gains. It comes from patience, knowledge, and a long-term vision. Traders who focus on understanding technology, supporting meaningful projects, and investing in solid platforms are the ones who last.

Africa’s crypto revolution is still unfolding. Stablecoins are helping people preserve value, Bitcoin is becoming a digital store of trust, and blockchain is opening global opportunities. But this progress will only be sustainable if traders approach it wisely and securely.

Conclusion

The digital gold rush is real and Africa is right at the heart of it. But success in this new economy will not belong to those who rush in blindly. It will belong to those who take time to learn, who protect their wallets, and who make informed decisions.

In the world of crypto, safety is an important strategy. With trusted platforms like MEXC, the right education, and disciplined trading habits, African crypto traders can build not just wealth, but lasting financial empowerment.

[Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions].

The post Staying Safe in the Digital Gold Rush: How African Crypto Traders Can Protect their Assets appeared first on Tech | Business | Economy.