Parents lining up to pay school fees in cash, lenders charging extortionate rates, and cash savings held under mattresses—these are some of the things residents in Africa have had to resort to due to financial technology not having yet fully expanded in the developing continent. According to Statista, only 48 percent of the African population […]
Bitcoin can facilitate economic growth and progress that would have never been possible under a fiat standard.
Renewable energy is a big emerging market and experts believe new-age renewable energy plants are the gold mines of the 21st century. This is mainly because of the benefits derived from renewable energy, which include environmental benefits, low investment risk, consistent cash flows, explosive demand, and reduced operating costs. Carbon credits further increase the potential […]
Russia announced a willingness to accept bitcoin in exchange for oil, but will countries actually pay in bitcoin or will they stick to gold?
Bitcoin Loses $37.7K Support as It Revisits the $34.4K Low – May 7, 2022 BTC/USD has fallen to the low of $35,290 as it revisits […]
Alex Gladstein and Fodé Diop join a Bitcoin Magazine Twitter Spaces to share updates about the Central African Republic’s plan for Bitcoin adoption.
Bitcoin Bulls Overwhelmed by Bears as BTC Revisits the $37.5K Low – April 30, 2022 On April 26, BTC/USD was faced with selling pressure at […]
There is a massive drive for clean energy adoption which has increased demands for renewable energy sources as the world heads towards net-zero carbon. This has opened up the market for renewable energy, making it one of the fastest-growing spheres globally with over $286 billion dollars invested in renewable energy last year alone. The demand […]
Bitcoin (BTC) prices saw notable volatility on Friday, frequently breaching the $40,000 mark but failing to maintain that level. As of this writing, the top cryptocurrency by market capitalization had increased by 3.2 percent during the previous 24 hours, trading at $40,205. Bitcoin saw stiff resistance after breaking over that mark, plummeting below $40,000 in less than an hour, according to CoinDesk data. Over the next several hours, the world’s most valuable cryptocurrency traded at the previously mentioned price level, occasionally topping it and then falling below $40,000. Suggested Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300% More Countries Embrace Bitcoin Bitcoin rose alongside US stocks as new evidence of investor accumulation and increased use by nations ranging from Africa to Central and South America emerged. The global cryptocurrency market capitalization stood at $1.80 trillion, a little decrease over the previous 24 hours. However, the overall volume of cryptocurrency trade increased by nearly 14% to $95.54 billion. Bitcoin traded flat for the second day straight, with virtually little increase. It has been trading in a narrow range over the last few days, according to Mudrex CEO and Co-founder Edul Patel. “A similar pattern is anticipated to continue over the next one or two days. Ethereum, the second-largest cryptocurrency, is also trading similarly, with a slight increase. In comparison, the majority of cryptocurrencies have been in the red during the last day, said. BTC total market cap at $736 billion on the daily chart | Source: TradingView.com Failing To Sustain Momentum Bitcoin managed to sustain a brief gain during the early hours of Tuesday, but subsequently fell below the $40,000 support level in the afternoon, and has since reached repeated low points throughout the week. By Friday, the cryptocurrency Fear and Greed Index had fallen one point to 23, indicating that it remained in “severe fear.” On the same day, Bitcoin had an upward correction in response to stronger market indices. However, BTC is facing further selloffs as it strives to break through the $40,000 barrier. Suggested Reading | Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike Significant Resistance Recent price swings of the cryptocurrency “indicated substantial resistance” in the range of $40,000 to $41,500, according to John Iadeluca, founder and CEO of multi-strategy firm Banz Capital. He added that selling pressure has been especially intense “around the $40,000-$40,500 price levels.” Meanwhile, the Central African Republic recently became the world’s second country to legalize bitcoin as a form of payment. Cuba’s Central Bank announced the issuance of licenses to virtual asset service companies. The license will be offered to Cuban and foreign people and organizations. Featured image from Pixabay, chart from TradingView.com
The African country has become the second nation in the world to adopt bitcoin as legal currency.
Coming out of the COVID pandemic, sub-Saharan Africa is defying the odds with an explosive level of economic growth that has been unseen for decades. With more people moving about and more goods needing transportation, this growth is putting unprecedented strain on Africa’s logistics. As a result, parcel delivery and taxi driving entrepreneurship have become quite popular, their drivers being able to earn an above-average income. While this is fantastic for the economy, the local environment is suffering. Most logistics entrepreneurs rely on old and cheap imported motorcycles with inefficient single-stroke engines. These engines are not equipped with modern emission-saving technologies, making them especially polluting and costly to fuel. Bob Eco, a crypto-funded renewable energy and electric vehicle company, is trying to make a difference in Africa with its electric motorcycles. Specially designed for the challenges that drivers in developing countries face, these motorcycles are made with practicality in mind. And, featuring slick modern designs and bright orange paint, they are as stylish as they are useful. A single flat fee covers an all-inclusive package for drivers – high-tech safety gear, road safety training, vehicle insurance, and family life insurance all come with a motorcycle lease. Drivers also gain free and unlimited access to Bob Eco’s vast network of battery swapping stations, where drivers can quickly and easily swap their batteries for freshly recharged ones. Thanks to this amazing benefit, Bob Eco drivers skip on refueling costs and nearly quadruple their take-home income on average. As an easy choice for drivers, Bob Eco’s all-inclusive package has been a slam-dunk win since their first bike hit the road in 2020. To keep up with demand, founder Bob Ultee has been hard at work forming partnerships and finding ways to finance new facilities. Most excitingly, Bob Eco has struck a production deal with legendary motorcycle manufacturer Jincheng Suzuki. Jincheng Suzuki is currently producing over 300,000 units per annum for Bob Eco, and has been involved in the designs of Bob Eco’s most popular bikes, the Model E-AX100 and Model-X: The Bob Eco Model E-AX100 Together, Bob Eco and Jincheng Suzuki reinvented the legendary 1984 Suzuki AX100, transforming this classic into a smart electric model that is specially designed for taxi and parcel delivery services in developing countries. Though it is extremely affordable, the E-AX100 is virtually indestructible and reliable on tough terrain. Resembling a dirt bike, it is easy to ride where roads may be sparse or completely off-road travel is required. And, if it were ever to need maintenance, replacement parts for the E-AX100 can be found anywhere. The Bob Eco Model-X As an ultimate strategic motorcycle developed by Bob Eco and Jincheng Suzuki for emerging markets, the Model-X is a next-generation street model created with local land surveys in mind, incorporating design aspects that take into account the real-world traffic environments that drivers face on a day-to-day basis. With an extended flat seat, a second pair of board-style footrests, a high-capacity rear carrier, and suspension capable of handling heavy loads, the Model-X is the perfect e-bike for transporting parcels or tandem riders. Though it is designed for utility, this e-bike is also a fun ride – at the heart of the Model-X is Bob Eco’s proven powertrain, which delivers a thrilling riding experience. How Crypto Is Making Africa Greener To finance its expansion throughout Africa, Bob Eco has begun the sale of BobCoin, a cryptocurrency token that is linked to all of Bob Eco’s assets: from its growing fleet of bikes to the thousands of entrepreneurships that have joined under its wings. Mirroring Bob Eco’s success in Africa, BobCoin is making big moves to the upside. Come April of 2022, BobCoin will be publicly available on primary market exchanges. Soon after, BobCoin utility tokens will be accepted for Bob Eco’s lease-to-own products.
Per a survey published by Bitstamp, the crypto space is on track to become a mainstream industry. The platform conducted a survey with over 28,000 participants, 5,400 senior institutional decision-makers, and 23 retail investors, across 23 global markets to try and take a pulse on the sector. Related Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter Since its inception, digital assets have grown into a $2 trillion industry at its all-time high. Once an interesting way for tech-savvy individuals to send money across the world, the participants of Bitstamp’s survey claim that they used crypto to buy groceries, donate, shop online, and other day-to-day items. A majority of retail responders believe the industry is in its early stages. Therefore, they expect the next 5 years to be crucial for this industry’s growth. 75% think digital assets will reach mainstream adoption within 10 years. As an additional sign of its potential to increase its adoption levels, institutional participants have been recommending it to its clients, the survey claims. As seen below, 68% of the institutional responders have been “actively recommending crypto” to their clients, with a 6% minority taking the opposite stand. Similar to retail responders, 82% of institutions believe crypto will be mainstream in the coming decade. These investors class, the survey discovered, are very active in the space with 62% trading digital assets over 2 times per week and 54% claiming to have over 30% of their portfolio in cryptocurrencies. CEO at Bitstamp, Julian Sawyer said: The adoption of crypto and other digital assets is advancing at an unprecedented rate. In the last few years, cryptocurrencies have moved from the outskirts of the financial ecosystem to find themselves front and center of mainstream investing, with many of the largest trading venues in the world now catering to both retail and institutional crypto needs (…). The Countries That Could Adopt Crypto Faster Over the next years, as digital assets gain popularity, emerging economies could be critical in boosting their expansion. At the moment, the emerging world leads in terms of trust with institutions in Nigeria, Brazil, Colombia, Argentina, South Africa, and others surpassing first-world countries. Retail investors in the developing world are keener to trust digital assets. As seen below, these countries record over 75% in trust in contrast to the 50% or 60% in first world countries, such as the U.S., Spain, and the United Kingdom. Regulations continue to be a key subject for both retail and institutional investors. 47% of retail and 55% of institutions believe the industry lacks a regulatory framework. Thus, the industry’s future adoption seems highly tied to investors pressing their governments to provide more clarity on this item. Related Reading | Bitcoin 401k? Fidelity Investments Says Yes In short timeframes, the crypto markets stand at critical support levels as Bitcoin and larger cryptocurrencies trend to the downside. At the time of writing, BTC’s price trades at $38,500 with a 3% loss in the last 24 hours. The bulls need to display strength to prevent further losses.
The Middle East has risen to prominence as a favored location for cryptocurrency exchanges, with Kraken becoming the latest to be granted a license by the Abu Dhabi Global Market (ADGM). Kraken is the first worldwide virtual asset exchange group to get a complete financial license from the ADGM in the United Arab Emirates, the […]
Zurich, Switzerland, 22nd April 2022 – The MBC GROUP has released seven rare NFTs from its Fananees genesis NFT to auction them at OpenSea. The release of the seven characters comprises individual non-fungible Fananees featuring the top rarity ranging from 0.01 – 0.07%. The release of super rare Fananees aims to leverage contemporary technology such […]
Meditating on one of the World Prayers can offer a perspective from a beginner’s mind about Bitcoin and money, which may allow for inner guidance.