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Cryptocurrency

Meet Bittle: The Cryptocurrency brand empowering people with ‘Shared Prosperity’

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Bittle is relentless about empowering people through a reliable bitcoin to naira business.

The Covid-19 pandemic has accelerated Nigeria’s grim reality into a state of near-bleakness. In the wake of the pandemic, unemployment hit an all-time high of 27% with many businesses laying off their staff, sending them back to an already overcrowded labor market. What this means is that the percentage of the country’s population that is productively engaged is not enough to drive the economy.

Prior to the pandemic, Nigeria has been a country struggling with dual reality. A country blessed with so many mineral resources yet one of the poorest in the world. More than a dozen Nigerians are among the world’s richest, including the famous Aliko Dangote, who happens to be the richest black man alive. Yet, more than two-thirds of the population live on less than a dollar per day. Nigeria is truly two sides of a coin, two worlds in one.

Amidst this chaos and economic calamity enters bitcoin; the first and most successful cryptocurrency created in 2010 by Satoshi Nakamoto. From undeniable facts, Bitcoin is helping thousands of Nigerians to overcome poverty and attain financial freedom despite the scourge of a dwindling economy. The fast-spreading adoption of bitcoin in the past five years by Nigerians is predicated on the consistent devaluation faced by naira and the staggering economy of the country. Because of this, it was an easy decision for Nigerians who are risk-inclined to stake their investment on bitcoin, leading to mass adoption that keeps growing with every tick of the clock.

This explosive growth, if spelled out in numbers, means the following:

  • Annual growth of 19% in the number of bitcoins traded in Nigeria.
  • Since 2015, over 60,000 Bitcoin has been traded in Nigeria with a total worth of $566m
  • Over N12 billion worth of bitcoin is traded every day in Nigeria which led to the birth of the bitcoin exchange business: an industry with a market value of $350 million in 2020.

These facts and more are why Bittle was created; to empower enterprising Nigerians with simple and accessible cryptocurrency solutions using the concept of ‘shared prosperity’ Unlike other cryptocurrency exchange, Bittle is driven by a passion to help people own a bitcoin to naira exchange without stress, cash or experience.

“The bitcoin exchange business in Nigeria is a big and growing market (current market value of about $560m). At Bittle, our mission is to help anyone take their share of this bitcoin cake. Therefore, we made Bittle so simple and accessible so that anyone without prior experience of cryptocurrency can own a bitcoin to naira business and make lots of money. With the negative effect of the pandemic on people’s income, anyone who needs a side business to support his earnings will find Bittle a perfect choice,” Ejovwoke, the CEO of Bittle explained.

The traction Bittle has had in less than one year of commencement is a testament to its mission. With a current merchant base of 3,000 members and an average weekly payout of $10,000, Bittle is leading the way with an empathy-driven business model that makes people beneficiaries of their “shared prosperity” mantra. Ejovwoke gave more insight on the purpose that drives this intentional stand.

“When you do transactions with other exchanges, you get nothing in return. Some even delay payments coupled with bad customer service. However, Bittle is changing the game. We are relentless about solving the problem of poverty and helping people to become financially empowered through a reliable bitcoin to naira business they can even start for free. We believe in the concept of ‘shared prosperity’ because we are a human-first company. We operate from a position of abundance and our desire is to see every human with an enterprising spirit take their share of the bitcoin prosperity.”

Ejovwoke Enakirerhi gave us a peep into what it was like moving into uncharted waters of the cryptocurrency market when the pandemic hit, and the company lost a major share of its businesses.

“Looking back to March 2020 when the lockdown was announced, it was really a bleak period in the history of our company. The lockdown met us unprepared, but despite this, I and my team pulled ourselves together. After some days of research and brainstorming, we came up with Bittle as our flagship product in the cryptocurrency market. The energy the team brought to bear was insane. We pushed the MVP out and in less than 4 months, we had over 1,000 merchants monthly transactions of about $300,000. Currently, we have over 3,000 merchants and an average weekly payout of $10,000 to our merchants. Our goal is to increase this to $100,000 in the year 2021.”

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

1 Comment

1 Comment

  1. Emmanuel Ahunye

    February 3, 2021 at 2:02 pm

    How can I be part of Bittle?

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Cryptocurrency

No retreat no surrender, Ethereum explodes

Ethereum was trading at $1,532.05 on the FTX exchange with a 24 daily trading volume of $26.6 Billion.

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Ethereum whale transfers 200,000 ETH, as price drops to $387

Ethereum has been on a record buying spree amid its most recent price correction as institutional investors buy more at its dips.

At the time of drafting this report, Ethereum was trading at $1,532.05 on the FTX exchange with a 24 daily trading volume of $26.6 Billion. Ethereum is up 11.54% for the day.

Ether is the crypto asset that powers the Ethereum network. Crypto developers build apps on the Ethereum network, as it offers a unique type of decentralized software platform, which is different from the flagship crypto, which is designed to just be a currency or store of value.

READ: Binance Coin moves faster than Tesla, gains 114% in a week

Prakash Chand, Managing Director at FD7 Ventures also revealed also believes Ethereum would do far better than Bitcoin in the coming years;

“I’ve been lucky enough to spend lots of time with the brightest minds in crypto and I’m willing to bet that each of Ethereum, Cardano, and Polkadot will be more valuable than Bitcoin within the next few years,” he said.

That being said there has never been so much sustained activity of addresses interacting with Ethereum.

The 3-month average of aa’s has broken over its previous all-time high and it doesn’t look like it wants to go back!

READ: Bitcoin’s transaction fees Jump by 344%

READ: Investor moves $1 billion for $7 fee on Ethereum Blockchain

In addition, Ethereum (ETH) miners seem to have an edge now over their arch-rivals, as they have surpassed Bitcoin (BTC) miners on transaction fees charged for some months now.

Crypto market data aggregator, Messari revealed key metrics showing that it is the longest period for which Ethereum’s transaction fee revenue has surpassed BTC in the crypto asset’s history.

bitcoin train

This prevailing macro is positive for Ether miners whose turnovers have been increased by higher fees and more transactions. In fact, Ethereum’s network hash rate has been growing consistently, having reached a near two-year high.

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Cryptocurrency

Dubai-based hedge fund plans to sell $750 million worth of Bitcoin for Cardano and Polkadot

FD7 Ventures has revealed plans to sell about $750 million worth of their Bitcoin holdings over the next month.

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IMF calls crypto "special currency" and educates the public, Crypto: Why investors are rushing to DeFi assets, total market capitalization of cryptocurrencies, Crypto, Whales move 100,000,000 Tether, USDT in less than 24 hours

A Dubai-based, global crypto investment fund, FD7 Ventures with about a billion-dollar under management recently reveals a plan of selling about $750 million worth of their Bitcoin holdings over the next month to increase the company’s positions in Polkadot and Cardano.

Such a move will effectively sell-off a majority of the investment fund’s flagship crypto assets in buying rising cryptos like Cardano and Polkadot. According to the hedge fund, the increase in these altcoin holdings will better cater to the needs of its investors who are looking to diversify their portfolios in the growing crypto market.

  • Polkadot’s native DOT token serves two clear purposes: providing network governance and operations, and creating parallel chains by bonding. Its founders are Dr. Gavin Wood, Peter Czaban, and Robert Habermeier.
  • The fast-rising crypto asset is an open-source multichain protocol that enables the cross-chain transfer of any data or asset types, cryptocurrencies, thereby expanding blockchains interoperable with each other.
  • Cardano (ADA) has been tipped to outperform, on the bias that it had its smart contract launch last month, which will lead to a significant amount of applications built on Cardano in 2021.
  • This means that more developers will see it as an attractive medium for building their desired apps.

READ: Red Sunday: Crypto market drops $70 billion in value as Bitcoin, Ethereum, Litcoin tumble heavily

Also, Prakash Chand, Managing Director at FD7 Ventures revealed why such crypto assets based on their fundamentals showed more future.

“Aside from the fact that Bitcoin was first to market and society has given it meaning as a store of value, I think Bitcoin is actually pretty useless,” Chand said.

Chand says the firm intends to sell $750 million in Bitcoin in order to increase its exposure to Cardano (ADA) and Polkadot (DOT), which he believes are the foundation of the new internet and Web 3.0.

READ: Cardano to give crypto a cash like experience without internet access

The fund manager also believes Ethereum could outperform Bitcoin in the coming years;

“I’ve been lucky enough to spend lots of time with the brightest minds in crypto and I’m willing to bet that each of Ethereum, Cardano, and Polkadot will be more valuable than Bitcoin within the next few years,” he said.

The hedge fund has already started the process of converting their Bitcoin (BTC) to such Cryptos and expects to finish the conversion transactions by mid-to-end of March.

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