Bittle is relentless about empowering folks by way of a dependable bitcoin to naira enterprise.
The Covid-19 pandemic has accelerated Nigeria’s grim actuality right into a state of near-bleakness. Within the wake of the pandemic, unemployment hit an all-time excessive of 27% with many companies shedding their workers, sending them again to an already overcrowded labor market. What this implies is that the proportion of the nation’s inhabitants that’s productively engaged isn’t sufficient to drive the economic system.
Previous to the pandemic, Nigeria has been a rustic scuffling with twin actuality. A rustic blessed with so many mineral assets but one of many poorest on the earth. Greater than a dozen Nigerians are among the many world’s richest, together with the well-known Aliko Dangote, who occurs to be the richest black man alive. But, greater than two-thirds of the inhabitants dwell on lower than a greenback per day. Nigeria is really two sides of a coin, two worlds in a single.
Amidst this chaos and financial calamity enters bitcoin; the primary and most profitable cryptocurrency created in 2010 by Satoshi Nakamoto. From simple details, Bitcoin helps 1000’s of Nigerians to beat poverty and attain monetary freedom regardless of the scourge of a dwindling economic system. The fast-spreading adoption of bitcoin previously 5 years by Nigerians relies on the constant devaluation confronted by naira and the staggering economic system of the nation. Due to this, it was a straightforward choice for Nigerians who’re risk-inclined to stake their funding on bitcoin, resulting in mass adoption that retains rising with each tick of the clock.
This explosive progress, if spelled out in numbers, means the next:
- Annual progress of 19% within the variety of bitcoins traded in Nigeria.
- Since 2015, over 60,000 Bitcoin has been traded in Nigeria with a complete price of $566m
- Over N12 billion price of bitcoin is traded day-after-day in Nigeria which led to the beginning of the bitcoin trade enterprise: an trade with a market worth of $350 million in 2020.
These details and extra are why Bittle was created; to empower enterprising Nigerians with easy and accessible cryptocurrency options utilizing the idea of ‘shared prosperity’ In contrast to different cryptocurrency trade, Bittle is pushed by a ardour to assist folks personal a bitcoin to naira trade with out stress, money or expertise.
“The bitcoin trade enterprise in Nigeria is an enormous and rising market (present market worth of about $560m). At Bittle, our mission is to assist anybody take their share of this bitcoin cake. Subsequently, we made Bittle so easy and accessible in order that anybody with out prior expertise of cryptocurrency can personal a bitcoin to naira enterprise and make plenty of cash. With the destructive impact of the pandemic on folks’s earnings, anybody who wants a facet enterprise to assist his earnings will discover Bittle an ideal selection,” Ejovwoke, the CEO of Bittle defined.
The traction Bittle has had in lower than one yr of graduation is a testomony to its mission. With a present service provider base of three,000 members and a mean weekly payout of $10,000, Bittle is main the best way with an empathy-driven enterprise mannequin that makes folks beneficiaries of their “shared prosperity” mantra. Ejovwoke gave extra perception on the aim that drives this intentional stand.
“If you do transactions with different exchanges, you get nothing in return. Some even delay funds coupled with dangerous customer support. Nonetheless, Bittle is altering the sport. We’re relentless about fixing the issue of poverty and serving to folks to turn out to be financially empowered by way of a dependable bitcoin to naira enterprise they will even begin without spending a dime. We consider within the idea of ‘shared prosperity’ as a result of we’re a human-first firm. We function from a place of abundance and our need is to see each human with an enterprising spirit take their share of the bitcoin prosperity.”
Ejovwoke Enakirerhi gave us a peep into what it was like shifting into uncharted waters of the cryptocurrency market when the pandemic hit, and the corporate misplaced a serious share of its companies.
“Trying again to March 2020 when the lockdown was introduced, it was actually a bleak interval within the historical past of our firm. The lockdown met us unprepared, however regardless of this, I and my crew pulled ourselves collectively. After some days of analysis and brainstorming, we got here up with Bittle as our flagship product within the cryptocurrency market. The vitality the crew dropped at bear was insane. We pushed the MVP in and out lower than 4 months, we had over 1,000 retailers month-to-month transactions of about $300,000. At the moment, now we have over 3,000 retailers and a mean weekly payout of $10,000 to our retailers. Our aim is to extend this to $100,000 within the yr 2021.”