Business Activity|The goal of crypto as the investors undisturbed wealth empire and its effect on Nigerian|@sirpchannel

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Nice having you on my blog, hope you are feeling good. It is a great interest to discuss on the general phenomenon of crypto as it's boasts economy and expands the gross domestic product of the country. Also to establish the negative effects of the ban of cryptocurrency in Nigeria.

• What really is crypto
• Idea of crypto currency
• The crypto global achievement
• Investors views of crypto
• Crypto stability as the global means of exchange
• The negative effects of government on crypto trading ban in Nigeria.

What is crypto:
Crypto or coins is a digitalised currency designed to function as a means of exchange with a discentralized computer networking blockchain.

Idea of cryptocurrency:
Unlike the fiat currencies which is controlled by the government the central authority as the third party, crypto currency like steem was develop as a way to transact business without the third party.

The crypto achievement:
The ecosystem of crypto blockchain has made a good history for the past 7 years of invention. On record over 5% of people in America hold steems as their medium of business transaction. It is quite impressive to know that over 26 million people around the globe uses steem

The great achievement so far is that steem is peer-to-peer trust and genuine system of payment and no body or institution is in charge of crypto. It is a discentralized blockchain of computer networking digital money.

Investors view of Crypto:

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As the world changes day by day to digital economy and technology. It is the view of investors that the cowries system of buying and selling of goods and services will be more convenient to monitor through the ecosystem platform of computer blockchain, which also enhances the value of tokens invested with time.

Crypto Stability as the global means of exchange

The fiat equal amount has been deposited in the company reserves, what this means is that the company is equal to any task as it has the equivalent amount of stable coin valued at hand, and the general stability of the coins is back by crypto collaterized with others cryptocurrencies.

The negative effects of government on crypto trading ban in Nigeria.

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The government of Nigeria through the CBN and other financial institutions on 5th February, 2021 ban the dealing in crypto currencies, and this ban has a very serious effects and implications on Nigerian economy, such as mentioned below.

• The evacuation of some Fintech companies and the losses of job by their staff as a result of poor capital inflow with the high rate of unemployment in the country.
• The ban of Crypto currencies trading can increase social vices in the country as the steeming youth who solely depends on this trade of crypto as a means of livelihood, will becomes idle, and we know as said that the idle mind is a devil workshop.
• It will make people to find it so difficult to own crypto since they cannot buy or sell the crypto's.
• The ban will contribute to the depreciation of the Naira, and loss of money by Nigerians.

The crypto trading enhances the economy growth of the Nation's and expand its gross domestic product, but the ban of the cryptocurrency trading causes emotional shock and trauma to Crypto investors and the industry stakeholders.

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