Business

How To Set Up A Crypto Wallet

Published

8 months ago

March 13, 2025

In a world where digital currencies are fast gaining relevance and acceptance for daily income earning in digital trade and Web 3 evolution is a mainstay, it is important to dissect certain aspects that could continually yield money making opportunities for people on the internet.

Trading and investing in crypto currencies is a significant one.

This article explores the short steps a trader could follow in order to set up a crypto wallet and apply precautionary/restrictive steps to navigate potential risks.

1. Choose the right type of wallet for your needs

Making the right choice for the type of wallet that suits your needs is he first important step in setting up a crypto wallet. This should be done with the consideration of the risks attached, convenience and comfort.

For easy use and plan to make transactions often, software wallets is highly recommended due to its simple interface and low fees. However, if you care more about security, especially if you own a lot of cryptocurrencies, a hardware wallet is suitable for that.

2. Creating your crypto wallet

After making the choice of your wallet provider, the next step is to create your crypto wallet by going on their official website or downloading their app from a trusted and risk free app store. You will be required to set up your account with your personal information such as email address, phone number, and sometimes a form of verification to prove your identity.

Ensure you are on a secure internet connection while working on this and check that the website or app is genuine before giving any personal details.

3. Secure your wallet with strong passwords and backup

The next thing after setting your crypto wallet account is to apply a few security features to it. This could be creating a strong and unique password for it–not used for other social accounts.

Similarly, good wallets provide two-factor authentication (2FA) for extra security. When you turn on 2FA, you add another step to log in. This often requires a code sent to your phone or email.

4. Deposit your Cryptocurrency to your wallet

When you have fully set up your wallet and applied security features to it, you can then deposit cryptocurrencies to it. The first thing to do is to find your wallet address– a special mix of letters and numbers that shows where your wallet is on the blockchain. This is quite similar to your bank account for cryptocurrencies.

If you want to deposit funds in your wallet, start a transfer from an exchange or another wallet where you keep your cryptocurrencies. Then, you must be very careful to choose the right cryptocurrency and enter the correct wallet address.

5. Transact with your crypto wallet

Having completed the aforementioned steps and procedures, you can now send, receive, or manage your digital assets with cryptocurrencies in your wallet.

If you want to complete a transaction, just enter the recipient’s wallet address, the amount to send, and confirm the details.

Business

Naira Records Second Consecutive Depreciation Against US Dollar

Published

6 days ago

November 12, 2025

Editor

The Naira recorded its second consecutive depreciation against the United States dollar at the foreign exchange market on Tuesday to continue the bearish trend this week.

The Central Bank of Nigeria’s data showed that the Naira further weakened on Tuesday to N1,438.71 against the dollar, down from N1,437.2933 exchanged on Monday.

This means that the Naira again dropped by N1.42 against the dollar on Tuesday on a day-to-day basis.

At the black market, the Naira remained flat at N1465 per dollar on Tuesday, the same rate traded on Monday.

This is the second consecutive decline of Nigerian currency at the official market since the commencement of this week.

Meanwhile, the country’s external reserves had continued to rise, standing at $43.37 billion as of Monday, 10th November 2025, up from $43.35 billion on November 7.

Business

Tinubu Approves 15% Import Duty On Petrol, Diesel

Published

3 weeks ago

October 30, 2025

Editor

President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), also known as petrol.

This was announced in a letter dated October 21, 2025, where the private secretary to the president, Damilotun Aderemi, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Tinubu gave his approval, following a request by the FIRS to apply the 15 percent duty on the cost, insurance and freight (CIF) to align import costs to domestic realities.

With the approval, the implementation of the import duty will increase a litre of petrol by an estimated N99.72 kobo.

The latest development has led to the Nigerian National Petroleum Company Limited (NNPCL) announcing that it has begun a detailed review of the country’s three petroleum refineries, with a view to bringing them back online.

NNPCL Group Chief Executive Officer (GCEO), Bayo Ojulari, made the announcement in a post on his official X handle on Wednesday night.

According to Ojulari, one of the options being explored by the NNPCL is to search for technical equity partners to ‘high-grade or repurpose’ the facilities.

Tagged: “Update on Our Refineries”, Ojulari said: “The NNPCL continues to remain optimistic that the refineries will operate efficiently, despite current setbacks.”

It can be recalled that despite spending about $3 billion on revamping the refineries, only the 60,000 barrels per day portion of the facility worked skeletally for just a few months before packing up.

The Warri refinery has remained ineffective weeks after it was gleefully announced to have returned to production, while the one situated in Kaduna State never took off at all.

Business

NNPCL Raises Fuel Price

Published

1 month ago

October 13, 2025

Editor

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol from ₦865 to ₦992 per litre, marking a fresh hike that has sparked widespread concern among motorists and consumers .

As of the time of filing this report, the company has not released any official statement explaining the reason for the sudden adjustment.

During visits to several NNPC retail outlets, The Nation observed fuel attendants recalibrating their pumps to reflect the new price.

At NNPC filling station on Ogunusi road, Ojodu Berger, petrol attendants at the station said they were instructed to change the price to reflect the new rate N992 per litre.

However, checks at Ibafo along the Lagos /Ibadan expressway showed that NNPC outlets still displayed the old price of N875 per litre, although they were not selling to commuters.

Most of the NNPC stations were not dispensing fuel.