WHAT IS ZUGACOIN?
WHAT IS ZUGACOIN?: Zugacoin is a cryptocurrency that was launched in Nigeria in 2020. It was created by Osita Arinze, a Nigerian entrepreneur, and is named after Zugakos, a town in Anambra state, Nigeria. The aim of Zugacoin is to help promote financial inclusion in Africa, particularly in Nigeria, by providing a decentralized payment system that is fast, secure, and transparent.
Zugacoin is based on the Ethereum blockchain, which is a decentralized platform that allows developers to build decentralized applications (DApps) on top of it. The Ethereum blockchain is known for its smart contract capabilities, which allow developers to create self-executing contracts that automatically execute when certain conditions are met.
One of the main features of Zugacoin is its focus on promoting financial inclusion in Nigeria. The country has a large unbanked population, with many people lacking access to traditional financial services. Zugacoin aims to provide an alternative to traditional banking by allowing users to send and receive payments quickly and securely, without the need for intermediaries like banks.
Aim of Zugacoin
Zugacoin aims to make digital transactions more accessible and affordable for everyone, including those who may not have access to mobile devices or internet access. The Zugacoin team has developed a system that allows users to buy and sell Zugacoin using simple SMS commands. This means that even those with basic mobile phones can participate in Zugacoin transactions.
Another feature of Zugacoin is its focus on security. The blockchain technology behind Zugacoin ensures that all transactions are secure and tamper-proof. The decentralized nature of the blockchain also means that there is no single point of failure, making it virtually impossible for hackers to steal funds or manipulate the system.
Additionally, the Zugacoin team has established a network of agents and merchants who accept Zugacoin as payment for goods and services. These agents can facilitate transactions on behalf of users who may not have access to the internet or mobile devices. This means that even those who are not able to directly participate in Zugacoin transactions can still benefit from its use.
Zugacoin has also been designed to be user-friendly. The platform is easy to use and navigate, even for those who are not familiar with cryptocurrencies. The Zugacoin team has also created a mobile app that makes it easy to buy, sell, and store Zugacoins.
Zugacoin does not currently have its own standalone application. However, Zugacoin can be stored in any wallet that supports ERC-20 tokens, such as MyEtherWallet, MetaMask, and Trust Wallet. Users can download any of these wallets and add Zugacoin as a custom token to store, send and receive Zugacoin. Users can proceed here to get a detailed step on how to buy Zugacoin.
In terms of its value, Zugacoin is similar to other cryptocurrencies in that its value is determined by supply and demand. As more people use Zugacoin, its value is likely to increase, making it an attractive investment option for those looking to invest in cryptocurrencies.
Furthermore, Zugacoin is designed to be a stable and reliable store of value, which can help protect people’s wealth from the inflationary pressures that are common in Nigeria’s economy. This can be particularly beneficial for those who do not have access to traditional banking services, as they may be more vulnerable to the impacts of inflation.
Web-based platforms like DartAfrica allows users to instantly exchange their crypto assets for fiat without any third-party interference or hidden charges whenever they want, just like Zugacoin’s goal of financial inclusion, DartAfrica aims to let users do what they want with their assets and have fiat instantly deposited to their local banks. Plans are currently in the works to expand the range of assets offered by DartAfrica to include Zugacoin amongst a host of others. DartAfrica can be easily accessed by anyone with access to the internet whenever they need to, all that’s needed to be done is:
How to trade on Dart Africa
- Visit their website to register in just a few simple steps.
- Next, log in to your account and click “Security” to create a transaction pin for authorizing withdrawals.
- Click on “Account Details” to set up your local bank account.
- Click on “Sell Coins”, and select the coin you wish to deposit. Enter the USD amount (min $20).
- Click “Sell Now” and a barcode (and wallet address) is provided for you to deposit the equivalent amount you wish to sell. Once the deposit is complete, you can monitor your transaction in the “Trades” section and after 2 block confirmations, the equivalent fiat is deposited in your account. This can be viewed on your “Dashboard”.
- Click “Withdraw funds” and enter the amount you wish to withdraw to the already set up account in step 3. Your local bank is credited instantly with no hidden charges.
Pending the time Zugacoin is added to the list of coins available for exchange on DartAfrica, you can still proceed to exchange USDT, USDC, ETH, and BTC.
However, it is important to note that like all cryptocurrencies, Zugacoin is a high-risk investment. Its value can be volatile and subject to sudden fluctuations, so it is important to conduct thorough research and understand the risks involved before investing.
In conclusion, Zugacoin is a cryptocurrency that aims to promote financial inclusion in Nigeria and provide a fast, secure, and transparent payment system. While it is still a relatively new cryptocurrency, it has already gained popularity in Nigeria and is likely to continue to grow as more people become aware of its benefits.