How Zugacoin is Gaining Grounds in The Nigerian Crypto Market, says Prof. Zuga

How Zugacoin is Gaining Grounds in The Nigerian Crypto Market, says Prof. Zuga

  • The funder of the first ever cryptocurrency in Nigeria and Africa, Sam Zuga has that the digital currency is gaining momentum in the country
  • He said more traders and merchants are beginning to adopt the crypto as means of trade and exchange in Nigeria
  • According to the entrepreneur, Zugacoin will become a much sought-after trade and business tool in Nigeria soon

Sam Zuga, a serial entrepreneur and founder of Zugacoin has explained how Nigerians are now using ZUGACOIN for goods and services across the country,

Zuga is the first professor of digital economy and the founder of Africa's first cryptocurrency.

Zugacoin, Nigeria's first cryptocurrency
Zugacoin, Nigeria's first cryptocurrency Credit: Sam Zuga
Source: UGC

Speaking on the importance of the cryptocurrency to the Nigerian economy, Zuga said that using the digital currency for transactions comes in three different types of merchants in the Samzuga ecosystem which are premium, registered and verified merchant.

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Analysing how various categories work, he explained that 'premium merchants are people who would be accepting ZUGACOIN for goods and services without any form of registration both online and offline.'

How to use or operate Zuga

For Registered Merchants, the cleric said it was made for " people who have paid money to the company's account, forwarded proof of payment to the number that was published and got a temporary code.'

Categories of payments

The clergy clarified that when the that the information given are uploaded and their KYC documents and Customer Due Diligence documents are completed and verified by the technical team by one click, the user will be able to see all verified merchants in the locality or their neighbourhoods who are looking for any ZUGACOIN Merchant

He urged more Nigerians to "accept ZUGACOIN for goods and services.

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According to him the crypto will become a much sought-after in Nigeria and Africa as users can accumulate it and get rewards.

Bitcoin crashes, loses N1.2m as Over 129,600 investors are liquidated has reported that the world’s largest crypto by market share, Bitcoin lost nearly N1.3 million on Tuesday, December 27, 2021, as it traded at N19.9 million at its support level which analysts see as crucial for estimating its perspective for 2022.

Losses that occurred due to liquidations at the cryptocurrency market crossed N153. 5 trillion on Tuesday, December 27, 2023, according to a report by Nairametrics.

Almost 80 per cent of the liquidations happened on long placements, which are futures agreements in which traders haggle on a price rise.


Pascal Oparada avatar

Pascal Oparada (Business editor) Pascal Oparada is a Mass Communications Graduate from Yaba College of Technology with over 10 years of experience in journalism. He has worked in reputable media organizations such as Daily Independent, TheNiche newspaper, and the Nigerian Xpress. He is a 2018 PwC Media Excellence Award winner.

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