Top cryptocurrency articles on Stears Business

What crypto persona are you?

At the Stears Business newsroom, we probably have all types. From our articles, you could guess who the “enthusiasts” are. You might also be able to find the “newbies” or pick out the “curious investors”.

But this is about you, and whichever persona you possess, we have the best articles in our Library to guide you through the toughest questions and unforgettable moments—whether red dollar signs or rocket blue skies.

If you are wondering how? There is a simple explanation. One big decision we took as a growing newsroom was to create some time away from our usual schedule to research, interview industry bigwigs and analyse all the things you need to know about cryptocurrencies.

Then for a whole week in January, the newsroom published these articles, much to the delight and appreciation of our audience. But it did not stop there. There has been a regular update to our cryptocurrency archives. 

And with the never-ending cryptocurrency drama—sometimes happy, other times sad—we believe it is time for our stellar pieces on the topic to find their rightful place in our growing library. 

Top on the list is this entry from the journal of a novice crypto trader who doubles as the newsroom’s editor-in-chief.
 

1. Diary of a crypto trader: The rise, fall, and rise again

This writer is driven by the crypto space because of one thing—to buy a yellow Lamborghini. For you, it might be to retire at 35. Whatever your goals are, you will gain insights into how crypto traders think about the market after reading this piece. Embedded within it are also the factors that drive the major moves, from whales in the market to Reddit threads and fraudulent Initial Coin Offerings.

It is a beautiful story and the Stears Business premium community can’t forget it in a hurry. So, grab some popcorn, get comfortable, and dig into this blockbuster based-on-a-true-story of crypto living + learning, and loving every bit of it.

Read the full article here: Diary of a crypto trader: The rise, fall, and rise again
 

2. Cryptocurrency's anonymity: A platform for bad actors?

Are bitcoin and other cryptocurrencies truly anonymous? This story teaches us that cryptocurrencies are not. At best they are pseudonymous. 

Silk Road, a darknet platform, was notorious for the sale of heroin, cocaine, LSD and other illegal drugs with payment using bitcoin only. But in the end, we saw how the FBI shut it down because everyone’s crypto wallet address can be recorded and tracked. With crypto exchange platforms stepping up to collect more identity information from users, it’s now even harder to commit financial fraud without being caught.

Read the full article here: Cryptocurrency's anonymity: A platform for bad actors?

3. Crypto investments: The good and the ugly

If you’re an inquisitive person, then you’ve pondered a lot about cryptocurrencies and their ramifications. Would we ever be able to use bitcoin to buy everyday goods? Or is this all just going to be audio money? What does it mean for society or the economy? You probably have a million more questions. But one thing that is clear is that cryptocurrencies are too big to ignore. 

With the growing acceptance of crypto, this article does a fine job of helping you understand how investors are gradually embracing cryptocurrencies and the potential good, bad and ugly outcomes of such an embrace.

Read the full article here: Crypto investments: The good and the ugly

4. Cryptocurrency regulation and participation from the Central Bank of Nigeria

Last year, the US Senate introduced a bill to help the Federal Reserve create digital wallets for its citizens. The idea behind this was to find a way to digitise the dollar using distributed ledger technologies (DLT).

DLT is similar to what engineers use to create cryptocurrencies. Naturally, people were curious to know what it meant for other cryptocurrencies and actions pursued by other central banks globally, including Nigeria. This article provides the tools to help you answer such questions, showing how the money-stabilising and value-preserving roles of a central bank work in a decentralised financial system.

Read the full article here: Cryptocurrency regulation and participation from the Central Bank of Nigeria

5. What are the use cases of cryptocurrency?

This was the pioneer piece for our #StearsCryptoWeek. It is an insightful article that lays the foundation about the trends and fundamentals in the cryptocurrencies space.

In the story, you would find the common use cases of cryptocurrencies, i.e. what can we use them for and whether they provide solutions or make things worse? One way or another, cryptocurrencies or the technologies behind them will be a big part of our future.

Read the full article here: What are the use cases of cryptocurrency?

6. Analysing the CBN's cryptocurrency exchange restriction

After watching how Nigerians flocked to bitcoin and other cryptocurrencies, the CBN stepped in and told Nigerian banks to block accounts that were trading in these coins. This threatened the use of cryptocurrency exchanged in the country, pushing the market towards a peer-to-peer system.

In the same week that CBN issued its decree, Mastercard, an American multinational financial services corporation, announced that it was adopting cryptocurrencies.

Till today, many people do not understand why the CBN would try and stifle the use of cryptocurrencies just when they were really taking off at home and abroad. But as a part of the Stears Business premium community, you don’t need to guess, this article succinctly breaks down the entire story about this ban, from the motives to its impacts.

Read the full article here: Analysing the CBN's cryptocurrency exchange restriction

7.  Accelerating bitcoin trading in Nigeria

How did exchanges like Buycoins, Luno and Binance get the courage to set up shop in Nigeria? As one of the founders of Buycoins would explain in this free to read article businesses found bitcoin and other cryptocurrencies as a solution to Nigeria’s foreign exchange challenges. 

Also, when it comes to bitcoin, Nigeria accounts for the largest trading volumes in Africa. Tomiwa, a Co-Founder at BuyCoins, estimates that more than $200 million worth of bitcoin is traded every month, but as you may have seen there are threats to wider adoption.

 Read the full article here: Accelerating bitcoin trading in Nigeria

8. How 18-year-olds are becoming millionaires with cryptocurrencies

Today’s finance world is gripped with cryptomania—from non fungible tokens to meme cryptocurrencies. There is no better evidence for this trend than the crazy price oscillation association with DOGE, a cryptocurrency made in two hours, with no known fundamentals but keeps increasing in value. 

This article tried to make sense of DOGE and other marginal cryptocurrencies that have created millionaires this year. As always with cryptocurrencies, there is a lot more than meets the eye.

Read the full article here: How 18-year-olds are becoming millionaires with cryptocurrencies

9. Is bitcoin a threat to the naira?

Bitcoin, the world’s first digital currency, has been touted by some groups as the future of money. Unfortunately, some enthusiasts only see the coin's glory and not its weaknesses. Yet those weaknesses are glaring and sometimes scary for many people. Bitcoin’s volatility is its Achilles heel. Would a government in their right mind give up their need for stability in favour of a currency whose value changes like the letters on Elon Musk’s tweets?  

This story provides excellent viewpoints to answer that question. Beyond volatility, it goes the extra mile in explaining the friction that comes with handling bitcoin.

Read the full article here: Is bitcoin a threat to the naira?

10. Cryptocurrency markets in the red: The story of a rookie trader

Our final piece on this compilation is a beautiful sequel to the story we started off with. What has changed for our yellow-Lamborghini aspiring crypto trader after five months? A lot. But one person to beware of is Elon Musk—Tesla’s CEO. You would agree that his name appears too frequently in crypto-related matters. 

By now, you must have guessed who the Stears crypto enthusiast is. Cheers to more tales of his fortunes with bitcoin, ethereum, and other lesser-known coins.

Read the full article here:  Cryptocurrency markets in the red: The story of a rookie trader