Business

How To Set Up A Crypto Wallet

Published

3 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 Appreciates At Official Market

Published

3 weeks ago

May 24, 2025

Editor

The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.

Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.

This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.

The local currency maintained consistent strength throughout the week, recording gains daily.

On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.

These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.

Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent.

Business

BREAKING: Again, Dangote Refinery Cuts Petrol Price

Published

3 weeks ago

May 22, 2025

Editor

The Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with new prices now ranging between ₦875 and ₦905 per litre, depending on location.

The ₦15 per litre cut applies across all regions and partner fuel stations, and was confirmed via an official announcement posted on Dangote Refinery’s social media channels on Thursday.

Major marketers participating in the new pricing regime include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy — partners in the distribution of Dangote-refined products.

Under the previous pricing structure, Lagos residents paid ₦890 per litre, while prices reached ₦920 in the North-East and South-South regions. With the latest adjustment, Lagos now pays ₦875 per litre, while the North-East and South-South will see prices drop to ₦905.

A regional breakdown of the revised prices is as follows: Lagos: ₦875, South-West: ₦885, North-West & Central: ₦895, North-East & South-South: ₦905 and South-East: ₦905.

In its announcement, Dangote Refinery encouraged consumers to purchase fuel only from authorised partner stations and urged the public to report any cases of non-compliance via its official hotlines: +234 707 470 2099 and +234 707 470 2100.

“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company said.

Business

Naira Appreciates Against Dollar At Foreign Exchange Market

Published

4 weeks ago

May 17, 2025

Editor

The Naira ended the trading week on a positive note, recording a bullish close on Friday at the official foreign exchange market.

It appreciated N1,598.72 against the U.S. Dollar, reflecting a modest gain that suggests continued efforts to stabilise the local currency.

According to figures published on the Central Bank of Nigeria’s official website, the Naira strengthened by N0.60k against the Dollar on Friday.

This upward movement represents a 0.03 per cent appreciation compared to the N1,599.32 exchange rate recorded at the close of trading on Thursday.

The local currency had shown some resilience earlier in the week, posting gains on both Tuesday and Wednesday trading sessions.

On Tuesday, the Naira appreciated by 0.02 per cent, followed by a stronger gain of 0.21 per cent on Wednesday.

These improvements were seen as positive indicators of growing investor confidence and increased supply in the foreign exchange market.

However, Thursday’s trading session saw a minor setback, with the Naira slipping by N2.62 against the Dollar.

This loss equated to a 0.16 per cent depreciation, dampening the midweek rally seen in previous sessions.

Market analysts attributed Thursday’s dip to a brief increase in Dollar demand from importers and other market participants.

Despite this, the week still closed on a positive note, with the Naira showing signs of gradual recovery and increased market stability.

Analysts continue to monitor the Central Bank’s policies, especially interventions aimed at improving Dollar liquidity and managing demand pressures.

The Naira’s performance in the coming weeks will likely depend on consistent supply inflows and investor sentiment across the broader economic landscape.