Cryptocurrencies have introduced the world to many new innovations including NFTs. NFTs or non-fungible tokens, are unique, meaning they cannot be duplicated. Owing to their uniqueness, NFTs have been used widely for identity purposes and serve as important tokens for issuing rewards inside gaming ecosystems. BudBlockz ($BLUNT) is an upcoming cannabis industry trading platform that will feature a unique collection of 10,000 Ganja Guruz NFTs. It could provide strong competition to Axie Infinity NFTs in the future.

Axie Infinity is a pokemon inspired game where users can mint avatars and own land in the form of NFTs. These NFTs can be traded providing monetization options for the users. Some Axie NFTs have previously sold for 300 ETH in the past.

However, the Ganja Guruz collection of BudBlockz features more utilities. Owners of these NFTs (which will soon be released on Opensea) will be able to access discounts while purchasing products powered by the BudBlockz platform. Users will be able to trade and receive rewards and discounts each time they make a purchase of cannabis products on the BudBlockz platform. That’s not all! Users will also be able to gain fractional ownership of various farms and dispensaries throughout the world. BudBlockz Ganja Guruz NFTs, therefore, provide more options for monetization and also provide fractional ownership or a percentage of shares in cannabis farms and dispensaries. More rewards will be unlocked for users in the future.

BudBlockz is building a cannabis marketplace powered by the $BLUNT Token and its exclusive Ganja Guruz NFT collection. Interested users can buy the $BLUNT Token on presale. The Ganja Guruz collection will be made available on Opensea and users will be able to trade it easily. Given the wide use cases of the Ganja Guruz collection, many analysts have predicted a quick rise for the NFT series. It might provide 5000x gains in a short period of time and perform even better than the Axie Infinity NFT collection in the long run.

BudBlockz has rightly identified a unique opportunity for potential investment in the cannabis industry. It is a huge empire that could yield big gains over the long term. Ganja Guruz NFT collection is central to BudBlockz’s plans to monetize the cannabis industry and provide a passive source of income through fractional ownership to its users. Currently, the presale event where users can buy the $BLUNT Token has generated a huge interest among cryptocurrency enthusiasts and many investors have accumulated huge volumes.

Verified users who hold Ganja Guruz could also potentially benefit from a massive price rise since the BudBlockz NFTs are linked to real-world utility in the form of discounts and fractional ownership.

Learn more about BudBlockz (BLUNT) at the links below:

Official Website: budblockz.io/

Presale Registration:: https://app.budblockz.io/sign-up

Telegram Group: https://t.me/BudBlockz

Discord Server: https://discord.gg/s7hBFgvTmN

All BudBlockz Links: https://linktr.ee/budblockz

Nowadays it has become not just a trend but a prudent financial decision to invest in cryptocurrencies. Everyone is jumping on the bandwagon and realizing the huge potential they have for the future and wants to make the most out of it. One of the most important things that you can do for your cryptocurrency tokens is to keep them safely and securely. This is where crypto wallets come in and almost everyone that gets into crypto sooner or later gravitates toward them. If you do not know what a crypto wallet is, we will tell you all about it and why you should get one. And before you get yourself a crypto wallet or if are already using one, we will tell you about the five common mistakes everyone makes in crypto wallet.

What Is A Crypto Wallet

A crypto wallet is exactly what you think it is. Like a regular wallet that you use to keep your money, a crypto wallet is used to store your cryptocurrencies. Even when you buy a cryptocurrency token on an exchange, it is reflected in your wallet, that wallet is a crypto wallet. Now there are various kinds of crypto wallets. But the first major difference between wallets is:

• Custodial Wallet

A custodial wallet is a crypto wallet that is under the control of some other entity/third party such as your crypto exchange. When you store your crypto on cryptocurrency exchanges such as Binance, Coinbase, etc., the wallets they give you are custodial wallets. A lot of you might have heard that an exchange has stopped the withdrawal of cryptocurrencies from it at times. This is because even though the cryptocurrency tokens are yours, the wallet that they are stored in belongs to the exchange and they can control what can be done with the tokens inside it.

• Non-Custodial Wallet

A non-custodial wallet is simply a self-custodial wallet. It means that if you have a non-custodial wallet and have cryptocurrencies stored in them, then you are in control of those cryptocurrencies at all times. But at the same time, all the risks associated with it are also yours. Such as, in case you forget or lose your seed phrase or private keys to your wallet, there is no way to recover them ever.

Another major difference between crypto wallets is whether they are Software Wallets or Hardware Wallets.

• Software Wallet

A software wallet is one that is connected to the internet at all times and is also known as a Hot Wallet.

• Hardware Wallet

A hardware wallet is also known as a Cold Wallet as it is not connected to the internet at all times. It is like a USB drive that can be used to take your cryptocurrency tokens offline and store them safely. Ledger Nano S, Ledger Nano X, Trezor Model T, etc. are some of the best hardware wallets available.

Now that we know the differences, it is time to learn about the five common mistakes everyone makes in a crypto wallet.

Five Common Mistakes Everyone Makes In Crypto Wallet

1. Forgetting Private Key/Seed Phrase

When setting up your own crypto wallet, a private key or seed phrase is required which is to be stored securely. But a lot of people have ended up forgetting or misplacing their private keys resulting in losses of tens, hundreds, or thousands worth of cryptocurrencies. This is more common than you think and you should always store your keys in a place where they would not be lost, damaged, or even stolen.

2. Connecting Your Wallet To Malicious Or Spam Websites

With the increase in interest in cryptocurrencies, the number of scammers has also increased. If you are into cryptocurrencies and are an active member of the social media communities, you will get multiple messages across various platforms asking you to connect your wallet or give out your seed phrase and earn a hefty return on your holdings. Those are in all probability a scam and a ploy to steal your tokens and you should avoid such links at all costs.

3. Storing Cryptocurrencies In Custodial Wallets

Unless you are a day trader and need access to your cryptocurrency tokens at almost all times, there is no reason for you to keep your tokens in a custodial wallet, such as that of an exchange. It makes your tokens vulnerable to hacks or other forms of cyber attacks, on top of instances where an exchange locks up the funds for some reason or the other.

4. Wrong Wallet Address Or Network

While making transfers over the blockchain from one wallet to another, it is important to enter the correct wallet address and the correct network. Because in case you enter any of the above information wrong, the chances of your tokens being lost or being sent to the wrong address increase dramatically.

5. Accessing Your Wallet On Public Network

If you connect your device or wallet to a public WiFi network, the chances are that it can be hacked and the hacker can very easily make away with all the crypto stored in your device. Hence, as a good rule of thumb, never access your crypto wallet or assets over a public network.

Conclusion

The mistakes mentioned above are more common than you think and now that you know about them, we are sure you’ll not be making any of these. Investing in cryptocurrency is risky as it is, and on top of that, you would not want all your investment to disappear due to some trivial errors. Thus, always keep your crypto wallet secure and make sure to double or triple-check any transactions you do on the blockchain.

Nigeria’s Consumer Price Index (CPI) has risen to 17.1% in the month of October, according to recent data published by the Nigerian Bureau of Statistics (NBS).

The latest rise of CPI, also known as core inflation – which results from less farm produce, is the highest the country has recorded in five years, and has pushed headline inflation further up.

Core inflation refers to inflation based on the CPI, covering the inflation of all the goods and services except the volatile food & fuel prices, excise duties, income tax, and other financial investments. It guides the governments in forecasting long-term inflation trends for a country.

According to the NBS, headline inflation also hit a new high of 20.77 percent in September, buoyed by food supply, foreign exchange crisis, and increases in import costs. This is an uptick from August’s 20.52 percent figure that marked a 17 year high.

“In September 2022, on a year–on-year basis, the headline inflation rate was 20.77 percent. This was 4.14 percent points higher compared to the rate recorded in September 2021, which was (16.63 percent).

“This indicates that in the month of September 2022 the general price level was 4.14 percent higher relative to September 2021. On a month-on-month basis, the Headline inflation rate in September 2022 was 1.36 percent, this was 0.41 percent lower than the rate recorded in August 2022 (1.77 percent),” the NBS said.

The statistics agency reported that on a month-on-month basis, core inflation rose by 1.58 percent year-on-year, repeating the same figure reported a month earlier. It has been on the rise since April, following the jump in the pump price of diesel to N700, which consequently stoked the cost of goods and services.

The NBS revealed that food inflation rose to 23.34 percent in September, year-on-year, due to increases in the price of bread, cereals, potatoes, yam, oil, fat, and other food products.

The agency further attributed the rise in headline inflation year-on-year to factors such as; the disruption in the supply of food products, increase in import cost due to the persistent currency depreciation, and general increase in the cost of production.

“Likely factors responsible for the decline in the monthly inflation rate (Month-on-month basis).

“Over the past two months, there has been a decline in headline inflation on a month-on-month basis due to a decline in the changes in the food index relative to the reference month index which is due to the present harvest season.

“Likely factors responsible for the increase in annual inflation rate (year-on-year basis). Disruption in the supply of food products, increase in import cost due to the persistent currency depreciation. General increase in the cost of production,” the agency said.

The rising core inflation has a weightier economic effect as it cripples purchasing power as people prioritize their spending to cope with the increase in the cost of living.

Experts are worried that Nigerians, whose meager disposable income has further been impacted by the rising cost of living, will have to face a multidimensional economic hardship. The situation is expected to be compounded by the flood that is currently wreaking havoc across Nigeria. So far, more than 13 states have been impacted, with major farmlands being submerged.

With factors responsible for the rocketing inflation, including forex scarcity and insecurity, yet to be addressed, Nigeria has found itself in a difficult situation. Prof. Akpan Ekpo, an economist at the University of Uyo, said that the government’s inability to address the issues, particularly, insecurity is driving food inflation up.

“If the issue of insecurity is not addressed and farmers can’t go back to work freely there will be problems, especially with the flood now-perhaps they might lift the ban on importing food.

“If they lift the ban on importing rice, that will become another problem for us, because right now, the flood has affected most of the rice-producing areas in the country.  So, I think it is more of a structural problem and supply-side issue we have to address and not necessarily a monetary phenomenon. That part is just the CBN lending to the government which is very high,” he said.