The global growth and adoption of digital property and Blockchain technology has inevitably extended its reach to Nigeria, where CoinEx, a renowned cryptocurrency exchange, has been actively contributing to the development of the Nigerian Blockchain economy since the appointment of its first effective Nigerian partner in 2021.
Getting familiar with the Nigerian Blockchain Landscape
Nigeria’s tech-savvy, heavy content-consuming population and thriving digital innovation ecosystem make it an ideal market for Blockchain adoption. However, challenges such as limited awareness and lack of understanding of Blockchain’s potential, and hindrances due to certain laws have prohibited its widespread integration across sectors. Nigeria is an economy that has been going back and forth on things like Her take on “new” technologies and software solutions, but what has always been unwavering is the enthusiasm its citizens have displayed at all times towards these innovative tools and their will to gain financial freedom.
CoinEx’s Entry into the Nigerian Market
It didn’t take long for CoinEx to recognize Nigeria’s immense potential early on and establish a strong presence in the country. By providing a user-friendly platform and offering services for a diverse range of digital assets, including popular options like Bitcoin (BTC), Ethereum (ETH), and of course the native CoinEx Token (CET), CoinEx strategically targeted the Nigerian market with hopes of getting an upper hand on the Blockchain space while it’s still early, catering for the growing demand for digital assets in an economy with an almost unprecedented exponential growth.
Initiatives to Educate and Create Awareness
One of CoinEx’s primary milestones in Nigeria has been its dedication to education and raising awareness of the miracles of Blockchain Technology. The exchange has been proactive in organising workshops, summits, conferences, webinars, and educational campaigns to enlighten Nigerians about the fundamentals of Blockchain and its uses besides the world of finance, digital assets, safe trading practices and financial security.
CoinEx sponsors and promotes classes (both physical and virtual) hosted by their partners regarding everything web3. We recently received an award from the Student body of the University of Uyo in recognition for our excellent support to the student community among others.
“Giving Wings to Dreams“
CoinEx has been instrumental in easing access to educational materials and equipment for impoverished youths and people from other third world countries. In order to empower children’s dreams, CoinEx Charity has launched the global “Grant for Fulfilling Dreams” this year 2023. This charitable initiative will be implemented in various regions including Vietnam, Nigeria, Thailand, Indonesia, Syria and Turkey. It aims to offer grants and school supplies to disadvantaged students, assisting them in pursuing their education. With the mission of “Via Blockchain, Making the World a Better Place”, CoinEx Charity always focuses on disadvantaged groups in need of help around the world and advocates humanistic care through various public welfare activities.
Compliance, Security Measures and Governmental Bodies
To establish trust with Nigerian users, CoinEx spends a good amount of time conducting research and development to prioritise regulatory compliance and security over profit and growth. The exchange collaborates with Nigerian organisations like SiBAN to adhere to relevant regulations, ensuring a safe and transparent environment for Blockchain education, thanks to bodies like the National Information Technology Development Agency (NITDA) for the updates on the Blockchain policy, and everything else they have done for the Space,
another body that has been monumental in the journey to regulation and adoption is the National Communications Commission (NCC).
Community Engagement and Partnerships
CoinEx actively engages with the Nigerian Blockchain and FinTech community.
Collaborations with organisations, influencers, and community-driven initiatives have fostered a sense of belonging and has encouraged an active participation and engagement on our various social media platforms. Recently we Partnered with SiBAN on the “Digital Asset Summit“, where we were blessed with the opportunity of making long lasting and meaningful connections that will propel business. We also sponsored the Web3bridge organised “Web3 Lagos Conference“, here we gained massive networking opportunities, and the chance to brainstorm with other revolutionary industry leaders in the Blockchain sector like the Ethereum Foundation.
Making Crypto Trading Easier
“The No.1 Easy Crypto Trading Platform” is not just an ad campaign. In CoinEx
“simplicity” is our watchword. Every individual, project, or organisation within the economic and financial ecosystem stands to benefit from the orderliness, rationality, and fairness it upholds. The development of the ecosystem of simplicity” provides individuals with increased choices and decision-making power. This change in roles, coupled with the opportunity for long-term benefits derived from the ecosystem, represents the “new freedom” brought by said simplicity.
The ultimate goal of our aesthetic is to create a healthy ecosystem. This ecosystem is characterised by openness, transparency, and sustainability, with decentralisation being its core principle. This means that the development of the system relies heavily on widespread public involvement. Therefore, it is essential to encourage more people to participate so that everyone can benefit from incentives, freely engage in the community and make meaningful decisions, all while operating under the principles of open-source code and information symmetry.
The Vision (Future Prospects)
CoinEx’s tenacious efforts have made a significant impact on the Nigerian Blockchain economy, but this is just the beginning. CoinEx holds the Nigerian community very dear to heart. By driving education, fostering innovation, ensuring compliance, and engaging with the community, CoinEx has contributed to increase Blockchain understanding and higher Blockchain/web3 adoption rates in Nigeria (and Africa in the long run). The future prospects for Nigeria’s blockchain economy look promising with CoinEx’s continued support and innovative solutions leading the way.
CoinEx’s milestones and its efforts towards the development of the Nigerian Blockchain economy highlight the importance of collaboration between crypto companies and local stakeholders. By empowering Nigerians with knowledge, promoting innovation, and providing secure and accessible trading platforms, CoinEx has played a vital role in Nigeria’s journey towards embracing blockchain technology. This journey is paving the way for a more inclusive and digitally empowered future for the country.