By Dipo Olowookere
The future of the cryptocurrency market in Nigeria looks brighter and it is one sector that can be used to empower the youths, a leading global peer-to-peer fintech, Paxful, has projected.
The CEO and co-founder of Paxful, Mr Ray Youssef, speaking at a stakeholders’ forum organised recently in Lagos to chart a course for the industry, said he is impressed with the adoption of digital assets by Nigerian youths.
“The adoption of cryptocurrency by Nigerian youth in recent time is quite impressive. What is most striking is the success they have made with cryptocurrency with only a basic knowledge of it. It goes to show their passion, drive and tenacity in making the most of every opportunity,” Mr Youssef said.
“The future is even brighter ahead. But to effectively leverage and maximize the humongous potentials, we need to do more as industry players in deepening knowledge of the crypto market,” he added.
The Paxful chief used the occasion to restate the company’s commitment to advancing the crypto market in Nigeria by constant engagement and enlightenment efforts that foster a clear market understanding while also driving increased adoption among Nigerians, particularly the youths.
Mr Youssef noted that while Nigeria has become Paxful’s biggest market, there are still huge untapped potentials for the youth, calling for increased collaboration among players in the Nigeria crypto market to promote learning.
“As the demand for a decentralised marketplace continues to increase, there is a need for us to work together if we plan to thrive and power global finance.
“We can do this by taking responsibility to constantly engage and enlighten the public about cryptocurrency and its potentials for driving sustainable growth and prosperity,” he submitted.
Speaking on how he has been empowered through the Paxful platform, Sulaiman Muyideen, a Paxful VIP trader, who started trading on the platform with $10 about 11 months ago, stated that crypto is a game-changer and an enabler of wealth creation.
“I am financially liberated in just a short period of my joining the platform. I also like the fact that the Paxful Peer Program allows you to educate people on selling Bitcoin as well as gives priority to individual users to safely trade on the platform,” he said.
The event had in attendance stakeholders from the blockchain technology sector, banking and financial institutions, crypto market players as well as Paxful peers and VIP traders.
Modupe Gbadeyanka