The concept of cryptocurrency keeps spreading globally every day and continues to gather mass adoption from people. It is also speculated that more than one thousand cryptocurrencies exist, and more are being invented daily.
The crypto market is quite competitive; hence the value of a crypto coin is often dependent on the use value it gives users.
Many cryptocurrency projects have surfaced in the past, but unfortunately, they could not live up to the test of time before they crashed.
Apart from the use value of such coins, some other factors may determine the success or failure of cryptocurrencies. An example is News and speculations around such coins, which will push investors to buy or sell.
This is why prices of cryptocurrencies are very volatile such that crypto traders make profits by trading the price changes.
Zugacoin is a new cryptocurrency innovated by a black Archbishop in Nigeria and has continued to grow traction in the crypto space since it was launched.
In this article, we will discuss the Zugacoin project and the price of Zugacoin in Nigeria.
What Is Zugacoin?
A new cryptocurrency named Zugacoin was introduced to the African crypto space by a clergyman, Archbishop SamZuga, a philanthropist, Global peace ambassador, and successful businessman.
This project aimed to become an African cryptocurrency that will help alleviate poverty in Africa and find African government investments instead of China.
According to Sam Zuga, loans will be given out to small businesses and investors through the project since obtaining startup loans in Africa is herculean.
The project represents a unique entry point for upcoming African entrepreneurs without access to capital through a unique business model that integrates blockchain technology into the African financial sector.
The project promises to integrate Zugacoin into ATM and POS machines in Africa to withdraw funds quickly and share transaction fees between the merchants and vendors.
The Zugacoin is built for the future, and its potential includes a pragmatic delivery on a highly automated platform.
Characteristics Of Zugacoin
The primary feature of every cryptocurrency is that they are decentralized digital currencies that any central government does not control. People can exchange money from different wallets and pay for their goods and services online and offline, at a POS or using barcodes. Therefore, people can carry out transactions with Zugacoin without any regulation from the authorities.
You can use Zugacoin for transactions anywhere in churches, schools, hospitals, or markets. The platform keeps you in charge of your money while you are your bank and your wallet is proof of ownership. It’s a payment system where financial applications like smart contracts, payment APIs and other payment solutions will thrive.
Zugacoin once held the record as the most expensive cryptocurrency in 2021, surpassing giant coins like Bitcoin and Ethereum.
Zugacoin witnessed an 18% increase in the first three days of its initial coin offering (ICO), which drove the price to about $42,000 price level and increased to $49,000 after a few days.
Zugacoin project is a very innovative and phenomenal one which will, in turn, benefit everyone participating in the project’s early process and initiative.
From all indications, Zugacoin has the prospect of being the next big thing in the financial world and has all the digital layout to help the ailing economy of Africa.
Zugacoin Price In Nigeria Today
Recall when I said earlier that cryptocurrencies are pretty volatile for some reason, this is the current fate of our sweet saviour, Zugacoin.
When one is used to the constant ups and downs of crypto prices, then the current fate of Zugacoin will not be a surprise.
Recall that Zugacoin (SZCB) once sold at $49,000 a few days after its initial coin offering.
Today in Nigeria, Zugacoin sells at $ 0.2744728 (N122.04) per coin.
Zugacoin market cap is $0, and its 24-hour trading volume is $20,741.80. The coin has lost about -99.64% of its value in the last 24 hours.
How To Buy ZugaCoin(SZCB)
1. Download a Metamask Wallet:
Metamask is one of the best-integrated crypto wallets to choose from within the Ethereum network.
There are many ways to access and use the wallet. For example, you can download Google Chrome and the Metamask wallet Chrome extension if you use a desktop computer.
If you are a mobile phone user, you can download the wallet from Google Play Store or App Store but ensure you get the official wallet by using the official website.
2. Set Up Your Metamask Wallet:
After downloading the wallet, you need to set it up via the mobile app or Google Chrome extension.
If you are confused about how to do that, check the wallet’s support page for help. Also, endeavour to safeguard your passwords and seed phrases because you’ll always need them.
3. Buy Ethereum as Your Base Currency:
After setting up your wallet, visit your Binance app or account and click on the Buy & Sell crypto page to buy Ethereum.
4. Send Ethereum From Binance to Your Crypto Wallet:
After buying Ethereum from your Binance account, check your Binance wallet section for the Ethereum you already purchased and withdraw.
Change the network setting to Ethereum, give your wallet address and input the amount you want to transfer.
Once you click the withdraw button, the Ethereum will appear in your Metamask wallet
5. Choose a Decentralized Exchange (DEX):
Many DEXs are available for you, but you must ensure that the exchange supports your selected wallet. For example, 1 inch is quite suitable for people who use Metamask.
6. Connect Your Wallet:
Connect your Metamask wallet to the decentralized exchange of your choice.
7. Trade Your Ethereum With Zugacoin:
Finally, select Zugacoin as the coin you want to buy and use Ethereum as the payment.
Conclusion
Zugacoin (SZCB) is still a growing project which is just going through the general crypto bear market phase as other cryptocurrencies.
If the project succeeds in implementing and achieving all its goals in the African financial space, it will be one of the greatest innovations to grace the crypto space.
However, it could also be another scam project built to swindle unsuspecting users, so you should research and do your due diligence before investing in any cryptocurrency.
