Global cryptocurrency platform, Luno is working to improve cryptocurrency education and awareness for consumers across Nigeria. At the weekend, the firm held a meetup in Enugu, in the eastern part of the country to boost the understanding of the digital currency and its potential benefits.
The Luno Meetup is a free quarterly event that gathers people with different levels of understanding of cryptocurrencies, from experienced traders to beginners, and provides a platform for them to learn and share ideas on the evolving trends of the market.
The company “strongly believes” the world needs to upgrade to a new financial system and that cryptocurrencies can play a huge part in that according to Chinedu Obidiegwu, Marketing and Community Lead for Luno Nigeria.
Having already held sessions in Lagos, Abuja and Port Harcourt, Luno continues to host educational meetups in Nigeria, which is one of its biggest markets among over 40 countries where the firm has operations.
The Enugu event featured discussion topics such as Improving cryptocurrency literacy in Eastern Nigeria; Addressing myths around Bitcoin and other cryptocurrencies; and Industry information on where cryptocurrencies stand today.
Speakers at the forum included cryptocurrency enthusiast, Professor Olaleye Awe, who is a serial entrepreneur with experience in Fintech. As one of the most influential voices on cryptocurrencies in Nigeria, he also hosts weekly training sessions for anyone eager to learn about cryptocurrency.
Increasing crypto awareness
A recent report by Luno suggests that Africans are more open to adopting cryptocurrencies than people from other continents. Compared to the United Kingdom (7 percent), over three times as many respondents from Nigeria (23 percent) think a single global currency would make the current financial system better.
Where traditional ways of exchanging value are very expensive, prohibited or subject to fraud across Africa, Luno believes savvy people will love the distribution and access cryptocurrencies provide. The firm also predicts that African markets may be quicker to adopt cryptocurrencies than more developed markets. These factors highlight the need to improve the understanding of how cryptocurrencies work.
“As early pioneers in this industry, we feel it’s our duty to bring this knowledge and excitement to the world as best we can,” Obidiegwu said. “This is why we hold regular meetups and organize cryptocurrency literacy tours across Africa to raise the understanding and level of awareness of cryptocurrencies.”
Luno is a leading global cryptocurrency company with operations across Europe, South East Asia and Africa, and more than three million users (wallets) on its platform. The firm currently has its headquarters in London with regional hubs in Singapore and Johannesburg and a team of over 290.
Co-founded by CEO, Marcus Swanepoel and CTO Timothy Stranex, Luno has raised over $13 million in funding since launching in 2015 and is backed by global tech giant the Naspers Group and Rand Merchant Investment Holdings.
Luno’s products and services make it safe and easy to buy, store and learn about cryptocurrencies like Bitcoin, Ethereum and Bitcoin Cash.
