We are at a turning point in history. The outbreak of COVID-19 has changed not only our social plans. It disrupted every aspect of life, from social interactions to the global economy. While many are wondering what the economy will look like after the crisis. While fighting COVID-19 in other countries, such as Nigeria, other problems have arisen, as seen after the #ENDSARS protest.

In the aftermath of the coronavirus crisis, one thing is certain: governments and central banks are struggling to find solutions. Moreover, it seems that their efforts were exhausted already at the start. The history of money is sometimes marked by radical systemic changes.

Bitcoin was created in 2008 in response to the financial crisis, and the current global chaos has allowed it to assert itself as an alternative and new asset class. However, when liquidity is needed, as it is now, everything is sold, especially risky assets.

Bitcoin (BTC) is now regarded as “digital gold” and a safe-haven currency more than ever before.

(READ MORE: Why Bitcoin might go for $3 million in 2025)

John Bollinger, the creator of the Bollinger Band, rightly noted that during a crisis, investors will “sell whatever they can sell,” and only after the assets have been converted into cash, they will invest in anti-crisis assets.

Bitcoin has this advantage – firstly, Bitcoin prices are regulated without any intermediary intervention and are based solely on supply and demand. The number of Bitcoins that can be created is limited to 21 million, which means that unlike traditional fiat currency, new Bitcoins cannot be arbitrarily printed.

While Bitcoin may not necessarily rise during a crisis, it follows supply and demand drivers, which can be useful for risk management. It will be a clear advantage for our traditional monetary system to have alternatives to resort to in times of crisis.

It’s Time to Accept Bitcoin and Patricia Is the Best Choice

In the face of an expanding global crisis, the first and largest cryptocurrency Bitcoin (BTC) has managed to show a positive trend, doubling its value in the past few weeks. BTC/USD is up 40% since early October and 7% in just the first week of November, trading above $ 15,000 and hitting its highest level in nearly three years.

(READ MORE: Unknown entity transfers $115 million worth of Bitcoins)

A peaceful protest called #EndSARS, organized by Nigerian youths demanding the dissolution of the Special Anti-Robbery Unit (SARS) and other reforms in the Nigerian Police Force (NPF) was followed by a crisis. What began as a peaceful demonstration by thousands of young people turned into chaos after the protests were overrun by hooligans.

The hijacking of protest was later characterized by mob attacks on security personnel, assassinations, and vandalism of public and private property, including ATMs. Consequently, people don’t have cash, banks are locked, ATMs are looted and there is nowhere to get cash, if the adoption of Bitcoin was massive, these problems would be easily solved.

Bitcoin works everywhere and always. As with email, you don’t have to ask the recipients to whom you are sending Bitcoins to use the same software, wallets, or service providers. You just need their bitcoin address and then you can transact with them anytime you want. The Bitcoin network is always up and running and never sleeps, even on weekends and holidays.

There are no fees to receive Bitcoins, and many wallets allow you to control the amount of commission you need to pay when you spend. Most wallets have reasonable fees by default, and higher fees can help you confirm your transactions faster. Fees are not related to the amount transferred, so you can send 100,000 Bitcoins for the same fee as sending 1 Bitcoin.

(READ MORE:Crypto millionaire carts away with $224 million worth of Bitcoin)

Sending Bitcoins across the border is as easy as sending them across the street. There are no banks to keep you waiting for three business days, no additional fees for international transfers, and no particular restrictions on the minimum or maximum amount you can send.

Finally, Bitcoin transactions are protected by military-grade cryptography. No one can take your money or make a payment on your behalf. As long as you take the necessary steps to secure your wallet, Bitcoin can give you control over your money and a solid level of protection against many types of fraud.

There is no better time for Bitcoin adoption and Patricia is the best choice.

Ecobank Nigeria has launched Smart Small And Medium Enterprise (SME) Agency Banking campaign targeted at empowering 100,000 entrepreneurs under the Ecobank SME and Agency Banking proposition.

Emeka Agada, Head of SME, Ecobank Nigeria, said the initiative was introduced in line with the bank’s commitment to support the Federal Government and Central Bank Of Nigeria vision for financial inclusion across the country.

Aside improving financial inclusion, this campaign also aims to create self-employment for new entrepreneurs and help diversify income streams of existing small businesses across Nigeria. He reiterated that Ecobank has made it easy for entrepreneurs and small businesses to become the Bank’s Agents under this initiative.

“This laudable initiative is to empower small businesses and create new entrepreneurs. It is open to every honest and enterprising adult capable of using smart phones and/ or Point of Sale (PoS) Machines  as well as every small and medium enterprise subject to their meeting the terms and conditions as set out for Agents. Why not join the Ecobank Smart SME Agent network today and become a mobile financial services provider?“ he stated.

Mr Agada explained further that an Xpresspoint agent could perform basic banking services such as account opening, deposit collection for Ecobank, interbank transfers to other banks, card and card-less withdrawals, bill payment, airtime top-up, remittance services amongst others. He said Agents will earn money through-fees and commission on all successful transactions done through the agency. Ecobank will also train the agents and provide branding materials for free.

In her comment, Mrs. Nike Kolawole, Head Ecobank Agency Network lauded the Initiative and added that the Ecobank Agency proposition remains the best in the industry today. She encouraged small businesses to partner with the bank to drive financial inclusion and employment.

On a general note, Mrs. Kolawole emphasized that “banking has greatly evolved and has become closer to the people. With the introduction of Agency banking, no one needs to visit a bank branch to carry out a transaction. With your phone, you can perform your own transaction or perform transactions for other people on behalf of the bank and earn commissions. I encourage the youth and owners of small businesses (men and women) to use this initiative to expand their revenue streams while offering this value-added service to customers”.

Quality education is one of the pillars required to build a secure future for our children and wards. Despite it being the primary responsibility of parents and guardians to provide sound education for their children and wards, inadequate finance sometimes presents a challenge to its achievement.

With the Stanbic IBTC “Education Trust” (SET) scheme, a product of Stanbic IBTC Trustees Limited, the story is different. SET is a convenient and flexible investment plan with long term benefits, designed to support parents and guardians as you strive to provide quality education for your children and wards.

The future may hold uncertainties but SET covers up for unforeseen events by helping to prepare for difficult times so that the education of your children and wards is not negatively impacted.

Your funds are invested in conservative instruments, and the Education Trust is created professionally and administered by a Corporate Trustee. This offers a chance for your children and wards to enjoy access to quality education, regardless of any adverse circumstance. Payment of school fees is guaranteed as the Trustee pays directly to the school(s) thereby helping to avoid any diversion of the funds.

You can also nominate SET as a Beneficiary for your insurance policies to cushion the effect of permanent disability or other eventualities on your children or wards.

Parents and guardians attest to the benefits of proper planning and investing in Education Trusts like SET with the primary objective of ensuring that the education of their children and wards continues to the desired level. You can also take that wise step today and SET up your children and wards for a secure future.

For details on how to open a Stanbic IBTC Education Trust for your children or wards, please send an email to [email protected] or visit our website www.stanbicibtctrustees.com for more information.

Follow us on social media @stanbicibtc to learn more about the solutions we have to support your financial growth.