Similar to how consumers can earn incentives with their credit cards such as cashback when they shop or a sign-up bonus when opening a new account, cryptocurrency platforms such as Crypto.com, Coinbase, and Mushe World offer investors perks for referrals, completing transactions, or taking quizzes on their platform. These incentives are a great way for crypto enthusiasts to increase their crypto holdings at no extra cost.
Receiving free cryptocurrency through reward programs
Coinbase allows its users to earn crypto by learning how cryptocurrency works. They offer educational tutorials on their platform to teach their users about the different digital currencies available on the market and how the system works.
After the user watches a video, they must complete a quiz to test their knowledge of the topic they just learned. After successfully completing the quizzes, the user will receive Graph (GRT) and Amp (AMP) tokens.
Crypto.com allows users to earn its native token Cronos (CRO) by staking CRO tokens in their DeFi Wallet. What is staking? It is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. This reward system is similar to earning interest in a traditional bank. Crypto.com rewards users for storing their tokens in their DeFi Wallet; you can choose the length of time you stake your tokens and see the amount of interest you will receive before committing.
Mushe (XMU) is offering a 5% referral bonus to XMU holders on the tokens purchased by each referral during their presale period, which is happening now.
The Mushe tokens became available on April 18th for purchase at the introductory pre-sale price of $0.005 per token exclusively at www.mushe.world. Since the start of the presale, increased demand has more than doubled the token price, seeing it jump to over $0.01356 per XMU token.
When it officially launches in July, the price is predicted to be around $0.05 per token. Mushe is also planning to reward its users with Mushe tokens for ethical behaviour and customer loyalty. The company has allocated 4% of all tokens to its community fund, which will issue rewards, and a further 1% of all Mushe tokens to charitable organizations and ESG initiatives.
The best strategy for optimizing the reward programs
Retailers and traditional banks offer consumers several incentives to gain or retain their business; however, their reward programs are usually lacklustre. They offer points or items that consumers do not always want or need. Coinbase, Crypto.com, and Mushe have injected some innovation into how they reward their customers. The customers’ tokens can be used for transactions on their platform or online shopping on decentralized networks.
Each of the exchange platforms has various ways to optimize its reward programs. For Crypto.com, crypto enthusiasts agree that the DeFi Wallet is where customers can get the highest returns for their CRO tokens. With Coinbase, the best strategy is to complete the available video tutorials. It’s a win-win situation for customers of the platform because they learn more about the blockchain network and gain tokens simultaneously.
For Mushe, the referral program is an excellent opportunity for their customers to boost their earnings while also building community by inviting their friends and family to purchase cryptocurrency. A bonus is that the Mushe community will have the opportunity to help decide which charities and causes will receive the 1% of Mushe tokens (7,770,000 to be exact) that the company has allocated for its philanthropic endeavours.
Learn more about Mushe (XMU)
Official Website: https://www.mushe.world/
Presale Registration: https://portal.mushe.world/sign-up
Sterling Bank Assures Shareholders More Value With New Structure
By Aduragbemi Omiyale
Recently, shareholders of Sterling Bank Plc authorised the board of the company to transform its organizational structure into a holding firm to be known as Sterling Financial Holdings Company.
A holding company or Holdco is a company set up for the purpose of making and managing, for its own account, equity investment in two or more companies, being its subsidiaries, engaged in the provision of financial services, one of which must be a bank.
The Chief Executive of Sterling Bank, Mr Abubakar Suleiman, said with the new arrangement, shareholders would have value for their money as the company would have the opportunity to increase its income streams because of its involvement in new ventures.
He disclosed that the advantages of the newly formed holding company include value creation to maximise earnings through new businesses, agility to optimise for opportunities and adapt to a rapidly changing market, maximise current and future talent potential with opportunities within the group and subsidiaries to nurture and engage its wealth of young and innovative talent.
According to him, the holding company also affords Sterling another opportunity to leverage its successful HEART strategy, which has seen the bank make consolidated investments in the Health, Education, Agriculture, Renewable Energy and Transportation sectors, growing the company’s year-on-year profits to record highs despite strong economic headwinds.
With the adoption of a Holdco structure, Sterling now possesses the latitude to make inroads into other sectors within financial services, such as pensions, asset management, payment services, real estate, and different verticals, along with the current banking licenses held by the commercial and non-interest banking subsidiaries, Sterling Bank and The Alternative Bank.
In recent times, the bank has doubled down on digitisation with specialised products through the development and introduction of Specta, OneBank, I-invest, Gazelle and Omni X to fulfil the market’s needs for innovative retail and commercial banking solutions.
On his part, the Chairman of Sterling Bank, Mr Asue Ighodalo, said, “Following the implementation of the scheme, shareholders will exchange their shares in the Bank for shares in HoldCo in the same proportion as their current holdings in the Bank, which will be a regulated entity for CBN purposes.”
He added that the scheme would provide several benefits to the shareholders of the bank, some of which include facilitating diversification into other permissible business lines, thereby promoting growth and enhancing shareholder value and facilitating a consolidated financial strength of the group, which will improve access and ability to raise capital.
It was gathered that upon the final ratification by the regulators, the commercial banking subsidiary of the holding company, Sterling Bank; will continue to operate with its current name as a limited liability company, with shares transferred from the publicly traded company transferred to the newly formed Sterling Financial Holdings Company.
Friesland Extends NASD OTC Securities Growth by 0.98%
By Adedapo Adesanya
FrieslandCampina WAMCO Nigeria Plc extended the bulls’ presence at the NASD Over-the-Counter (OTC) Securities Exchange by 0.98 per cent on Tuesday, September 27.
This expanded the market capitalisation of the bourse by N9.38 billion to N963.94 billion from N954.56 billion and jerked the NASD Unlisted Securities Index (NSI) up by 3.19 basis points to end the day at 762.12 points as against the 765.31 points it recorded in the previous session.
FrieslandCampina WAMCO Nigeria Plc appreciated yesterday by N4.90 to sell at N78.00 per unit compared to the N73.10 per unit it was transacted a day earlier.
Despite the growth posted yesterday by the NASD OTC securities, there was a price loser and it was Niger Delta Exploration and Production (NDEP) Plc, which declined by N1.00 to settle at N199.00 per share compared with Monday’s value of N198.00 per share.
During the session, there was a rise in the volume of securities traded by 408.8 per cent to 189,296 units from the 37,205 units transacted by market participants in the preceding session.
In the same pattern, there was a rise in the value of shares traded by 129.1 per cent to N6.2 million from the N2.7 million recorded on Monday.
These transactions were completed in 18 deals, the same amount of deals carried out in the previous trading session.
At the close of trades, AG Mortgage Bank Plc was the most traded stock by volume (year-to-date) with the sale of 2.3 billion units valued at N1.2 billion, Central Securities Clearing System (CSCS) Plc stood in second place with 687.6 million units worth N14.3 billion, and Mixta Real Estate Plc was in third place with 178.1 million units worth N313.4 million.
The most traded stock by value on a year-to-date basis was CSCS Plc with the sale of 687.6 million units worth N14.3 billion, VFD Group Plc was in second place with 27.7 million units valued at N7.4 billion, as FrieslandCampina WAMCO Nigeria Plc was in third place with 14.3 million units valued at N1.7 billion.
Naira Appreciates at P2P, Falls at I&E, Stable at Black Market
By Adedapo Adesanya
The value of the Naira appreciated against the United States currency in the Peer-to-Peer (P2P) segment of the foreign exchange market on Tuesday by N2 to close at N740/$1 compared with the previous day’s value of N742/$1.
However, it depreciated against the American Dollar at the Investors and Exporters (I&E) window of the FX market yesterday by 33 Kobo or 0.08 per cent to trade at N436.33/$1 in contrast to Monday’s value of N436.00/$1.
Data from the FMDQ Securities Exchange disclosed that the value of forex transactions recorded at the spot market yesterday went up by 27.31 per cent or $21.33 million to $99.43 million from the $78.10 million reported a day earlier.
In the interbank segment of the market, the Naira closed flat against the Pound Sterling at N463.96/£1 and against the Euro, it also remained unchanged at N416.15/€1 on Tuesday.
In the same vein, the exchange rate of the local currency paired with the greenback closed flat at the parallel market yesterday at N722/$1.
Meanwhile, the digital currency market was bearish yesterday, with Bitcoin (BTC) falling below the $20,000 mark again after it managed to rise above that level a day earlier.
On Tuesday, its value went down by 6.5 per cent to close at $18,765.50 as Ripple (XRP) recorded a 10.1 per cent slump to trade at $0.4282.
Ethereum (ETH) saw its value go down by 6.9 per cent to sell at $1,284.29, Solana (SOL) recorded a 6.5 per cent slide to quote at $32.44, Cardano (ADA) recorded a 5.6 per cent decline to settle at $0.4312, Binance Coin (BNB) shed 5.1 per cent to sell for $270.03, Litecoin (LTC) went down by 5.0 per cent to trade at $52.07, and Dogecoin (DOGE) saw a 4.5 per cent slump to trade $0.0594.
But Binance USD and the US Dollar Tether (USDT) closed flat at $1.00.a
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