DD
MM
YYYY

CATEGORIES

PAGES

DD
MM
YYYY

spot_img

CATEGORIES

PAGES

Home Blog Page 4836

The Most Relevant Provisions of The Petroleum Industry Act 2021

By
Emmanuel Ifeanyi Ogbuka
-
0

The Petroleum Industry Act was signed into law/assented to by President Mohammadu Buhari on the 16th of August,2021 and has since served as one of the most notable innovations introduced to the Nigerian Oil and Gas sector.

The Act was introduced mainly for the following reasons :-

– To provide a Regulatory framework umbrella for the Nigerian Petroleum Industry.

– To encourage further private sector participation in the Petroleum sector.

– To create a more defined framework for Oil-host community development.

This has led to a very high demand for Professional guidance on the most relevant provisions of the law by virtually all stakeholders of the Petroleum Industry, a demand greatly increased by the fact that the Act has led to a sudden disruption in the way business is conducted in this sector at every level.

As a result, this article will try to explain in the most summarized manner possible, the most notable provisions of the Act on :-

– The New Regulatory Framework governing the Petroleum Industry.

– New provisions for increased private sector participation in the Petroleum Industry.

– Labour issues.

– The new Petroleum sector business licensees available.

– Provisions for Oil-rich host communities.

– The new Petroleum Industry Tax regimes in place.

What now makes up the Regulatory Framework governing the Petroleum sector under the Act?

The Regulatory Framework governing the Oil and Gas (Petroleum) sector under the Act consists of :-

– The Federal Minister of Petroleum

– The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) which is now in charge of regulating the Upstream Petroleum sector.

– The Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA)  which is in charge of regulating the Midstream & Downstream Petroleum sector.

– The Nigerian National Petroleum Corporation (NNPC) Limited, a company limited by shares and a replacement for the former Nigerian National Petroleum Corporation (NNPC) which was a Statutory Corporation owned by the Federal Government.

What this also means is that the following former Regulatory bodies have now been rendered defunct:

– The Department of Petroleum Resources (DPR).

– The Petroleum Products Pricing Regulatory  Agency.

– The Petroleum Equalization Fund.

What are the new Upstream, Midstream & Downstream Business Licenses available in Nigeria under the Act?

The Act now provides for the following Business Licenses:-

Upstream Licences

– Petroleum Exploration Licenses (PELs) which are valid for 3 years and then renewable for a further 3 years similar to Oil Exploration Licenses (OELs) that existed under the previous Petroleum sector Regulatory Framework.

– Petroleum Prospecting Licenses (PPLs) which are similar to Oil Prospecting Licenses (OPLs) under the former Regulatory Framework and are initially valid for 3 years and possibly renewable for another 3 years for shallow water and onshore acreages while they are valid for 10 years when meant for Deep offshore & frontier acreages.

– Petroleum Mining Licenses (PMLs), similar to Oil Mining Licenses (OMLs) under the former Regulatory Framework and which are valid for a term of 20 years and conditionally renewable for another 20 years.

Midstream & Downstream Licenses

– Petroleum Products Transportation and wholesale licenses.

– Distribution licenses.

– Filling station licences.

– Cooking Gas Wholesale/Storage & Retail licenses.

What is the fate of former OMLs & OPLs that are yet to expire under the Act?

All former OPLs & OMLs will automatically be converted to PPLs & PMLs via license renewal upon expiration while currently subsisting OMLs & OPLs can be freely converted to PMLs & PPLs freely on certain conditions, one of them being that all pending Litigation and Arbitral suits concerning the operation of those licenses be ended first. 

What does the Act say about Gas Flaring practices?

Gas flaring is deemed prohibited under the Act except in the following situations :

– Disaster prevention/mitigation.

– As a safety practice.

– With the prior exception approval of the NUPRC.

Are Environmental Impact Assessments (EIAs) required of Upstream Licensees under the Act?

Yes, they are. Chemicals are also not to be used for Upstream Operations except where applicable permits have been obtained.

What does the Act say about Labour issues?

Under the Act, all employees of all the former component Regulatory agencies in the Petroleum Industry have been transferred to the applicable inheritor agencies under the same terms by which they were initially employed under the old Regulatory Framework.

What does the Act say about Host Communities?

The Act provides that a settlor under a Joint Operating Agreement (JOC) must register a trust in favour of its host community. Compliance under this statutory ptovisiysill be the duty of an appointed operator where a group of settlors are involved. The Act also provides that a tax-exempt Host Community Development Trust fund be set up for each settlor to donate to out of its operational expenses. Settlor contributions are however deductible for hydrocarbon tax and company income tax purposes. 

Who is a settlor?

A settlor is a holder of interest in a PPL, PML, or a holder of an interest in a Midstream license having its operations physically located in or near to any community.

What is the fiscal framework applicable under the Act?

The following cost implications are applicable under the Act :-

– Hydrocarbon taxes from Upstream Operations in the onshore and shallow water.

– License charges in converted PMLs & PPLs.

– Non-deductible expenses consisting of :

a). penalties & gas flare fees;

b). expenditure for Petroleum deposit information

– A cost price ratio limit of 65% of gross revenue for Tax deduction purposes.

– Company income taxes(for Upstream Petroleum companies).

– Hydrocarbon taxes will not be deductible due for the reason of Company Income Taxes.

Conclusion:- Understanding fully the procedures involved in Petroleum sector licensing procurement as well as Operational &  fiscal regulations will require further Legal guidance as the Act are too vast to be accurately detailed in this write-up.

Court of Appeal Nigeria Orders ASUU to Immediately Call Off Strike

By
Samuel Nwite
-
0

In a new twist to the ongoing legal tussle between the federal government and the Academic Staff Union of Universities (ASUU), the Court of Appeal has ordered the union to immediately call off its ongoing strike.

The National Industrial Court had last month, ordered ASUU to resume academic activities in public universities until the court rules on the case brought against it by the federal government.

The Court of Appeal delivered the ruling as a precondition for granting the ASUU’s request to appeal the ruling of the National Industrial Court.

The court gave ASUU seven days to file an appeal to the ruling of the trial court, but it must first of all, obey the ruling of the lower court and call off the strike immediately pending the determination of the substantive suit.

The National Industrial Court on September 21, ordered ASUU to call off the strike following the suit brought before it by the federal government, asking it to order the striking lecturers and other members of the union back to the schools.

Among the provisions of the law that the federal government had asked the industrial court to determine is whether ASUU has the right to embark on strike over disputes as is the case in this instance. The court file said ASUU is compelling the Federal Government to employ its own University Transparency Accountability Solution (UTAS) in the payment of the wages of its members as against the Integrated Payroll and Personnel Information System (IPPIS) universally used by the Federal Government in the nation for payment of wages of all her employees in the Federal Government Public Service of which university workers including ASUU members are part of or even where the government via NITDA subjected ASUU and their counterpart UPPPS university payment platform system software to integrity test (vulnerability and stress test) and they failed.

The government had prayed the court to accelerate the hearing as the strike, which has lasted for eight months – crippling academic sessions in the public universities, has become a matter of national security.

The court granted the motion on notice filed by the federal government, urging the lecturers to return to classrooms. Ruling on the interlocutory injunction, the trial judge, Justice Polycarp Hamman, ordered ASUU to call off the industrial action pending the determination of the federal government’s suit against the union.

But ASUU appealed the ruling, praying for the stay of execution of the industrial court’s judgment until the determination of the case at the Court of Appeal.

Meanwhile, the federal government, in another move to quell the strike, had issued certificate of recognition to breakaway factions of ASUU. In response, the union had dragged the government to court.

However, given the judgment of the appellant court, ASUU is expected to return to the classrooms while it files an appeal to the industrial court ruling. That would be a huge win for the government. But ASUU is likely going to embark on a fresh industrial action as soon as it ends the current one.

Meta Plans to Cut 15% of its Workforce in ‘Quiet Layoff’

By
Samuel Nwite
-
3

As Meta’s hard time continues unabated, the social media behemoth is desperately seeking measures to ameliorate both user and revenue growth crisis.

According to a report by Insider, Meta is reportedly conducting ‘quiet layoffs’ at Facebook that may lead to thousands of job cuts — at least 12,000 or about 15% of its workforce. The layoff, which is targeted at underperforming workers, is under process overseen by the company’s senior executives.

Insider reported, quoting comments by several employees, that as much as 15% of the workforce could be cut within the next few weeks. This means that some 12,000 employees could be out of jobs soon.

“It might look like they are moving on, but the reality is they are being forced out,” the employee told Insider.

The development came following Meta’s unprecedented economic downturn early this year that saw its value dropped more than half. The company’s stock price has nosedived 60% from its peak of nearly $380 since last year.

Insider reported that Facebook employees have been bracing for layoffs for months since the social networking giant announced a hiring freeze.

Though hiring freezes became common among tech companies earlier this year following growing global inflation, Facebook is one of the hardest hit. The social media company has had to deal with a major drop in the number of users who are believed to be joining the high-flying short-form video app TikTok.

According to the Insider’s report, Meta, seeing its value plunging, had planned early enough to cut the size of its workforce to the barest minimum.

Meta Founder and CEO Mark Zuckerberg has made it clear that the social network is freezing hiring across the board, warning that more layoffs are in the pipeline.

According to reports, Zuckerberg made these comments during an internal call to employees.

Zuckerberg mentioned during the last Meta earnings call that “Our plan is to steadily reduce headcount growth over the next year. Many teams are going to shrink so we can shift energy to other areas.”

In May, Zuckerberg announced a hiring freeze affecting certain segments of Meta. However, he has now expanded the hiring freeze across departments and verticals.

Facebook’s parent company Meta is currently reducing staff to cut costs amid the economic downturn, apparently putting some of them on traditional 30 to 60 days “lists” to find a new role within the company or leave.

Meta has a “long practice” where employees whose roles are eliminated are subject to termination if they can’t find a new job internally within a month.

As Big Tech companies lay off employees and freeze new hirings, Zuckerberg said in July that the company’s plan is to steadily reduce headcount growth over the next year.

Admitting that the social network has entered an economic downturn that will have a broad impact on the digital advertising business, Zuckerberg said that many “teams are going to shrink so we can shift energy to other areas inside the company”.

Meta had earlier this year, laid out a recovery plan that includes shifting to short-form videos and divestment to metaverse. However, the plan is yielding no positive results yet, and Zuckerberg is said to have invested more than $10 billion on the metaverse idea.

New Cryptocurrency to Buy Today

By
TI Partners
-
0

The crypto market is still relatively young and new compared to ‘traditional’ asset classes, such as equities and bonds. As such, new and exciting projects are launching on a regular basis, each looking to obtain market share from leading coins like Bitcoin and Ethereum.

In this guide, we take an in-depth look at the best new crypto coins today, touching on what they are, their upside potential, and how to invest in them today – with low trading fees.

New cryptos to Buy and Invest in Right Now – Top List

Below are a list of the best new cryptos to buy, each coin offering a compelling use and investment opportunity. In the following section, we’ll explore these new cryptos in more detail and highlight why they are  highly thought of within the crypto market.

  1. STEPN (GMT) – Top New Crypto to Invest in with Move to Earn Program
  2. Shen (SHEN) – Best New Algorithmic Stablecoin to Buy Today
  3. Polygon (MATIC) – New Best Layer-2 Scaling Token To Buy
  4. The Sandbox (SAND) – Popular New Metaverse Crypto Asset to Buy and HODL
  5. Chainlink (LINK) – Best Interoperability Token To Buy Today
  6. Uniswap (UNI) – Exciting New Cryptocurrency to Invest In Within the DeFi Sector
  7. Dogecoin (DOGE) – Best New Cryptocurrency with ‘Meme Coin’ Potential
  8. Avalanche (AVAX) – One of the Newest Cryptos Looking to Rival Ethereum
  9. Hedera Hashgraph (HBAR) – Best New Cryptocurrency with Unique Blockchain Technology
  10. Theta (THETA) – Top New Cryptocurrency Today Featuring Compelling Use Case
  11. ApeCoin (APE) – Newest Crypto to Watch with High Price Potential
  12. Fantom (FTM) – Unique Blockchain Network with Low Fees
  13. Ankr (ANKR) – Exciting New Crypto Today with Interoperability Use-Cases

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

A Closer Look at New Cryptocurrency to Invest in Today

Investors looking to buy cryptocurrency must ensure that any potential investment opportunity is suitable for their crypto portfolio, whether in terms of risk level or diversification. Fortunately, the list above presents an array of different possibilities.

Now let’s dive in and explore the best new crypto coins to invest in. Some of these cryptos could also become the next cryptocurrency to explode.

1. STEPN (GMT)  – Top New Crypto to Invest in with Move to Earn Program

Stepn is our top pick for new cryptos to invest in. GMT is the native token for the wellness, lifestyle and blockchain gaming-focused STEPN protocol. It is also one of the best-performing tokens built on the fast-rising Solana blockchain and these are some of the reasons why it made it to our list of best new cryptocurrencies to buy in 2022.

STPEN is a blockchain-based protocol dedicated to fitness, wellness, and healthy living. It seeks to revolutionize the $5 Trillion-dollar health and wellness industry with its Web3 and Gamefi tools. Unlike conventional fitness and wellness tools, STEPN rewards its platform users for keeping fit with the GMT tokens.

The attention that the world has paid to healthy living in the recent past may explain the oversubscription to this protocol, the growing investor interest in GMT, the growing STEPN community, and its overall positive ROI of GMT tokens of more than 10000%.

STEPN is expected to continue attracting users to its fitness and wellness platform. The crypto community and investor interest in GMT are also expected to continue rising. And all these, plus a recovering crypto market, Solana’s growing popularity, and increased attention to WEB3 technologies are all expected to help trigger a massive value gain for GMT tokens.

By the turn of the decade, optimists estimate that GMT will be selling for around $40. This translates to a 5000% value gain and confirms why you should be adding GMT to your watchlist of the best new crypto to buy in 2022.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

2. Shen (SHEN) – Best New Algorithmic Stablecoin to Buy Today

Shen is another new cryptocurrency to consider today as Luna and Terra UST have collapsed. The two have taught us that there is a real and urgent need for a non-fiat-focused stablecoin – an algorithmic stablecoin. Cardano – the most secure blockchain network and COTI seeks to fill this gap with the SHEN coin that serves as the reserve currency for the Djed algorithmic stable coin.

At its peak, Luna was 15000% above its ICO price. This is the chief reason why we believe Shen is the best new cryptocurrency to buy in 2022.

The majority of crypto analysts and investors are convinced that Shen has what it needs to mirror Luna’s success. But what prevents it from collapsing, like Luna – you must be wondering? Well, the answer to this is that Shen’s design, unlike Luna, has been peer-reviewed and all possible loopholes identified and sealed.

Moreover, its developers are already familiar with the challenges that led to Luna’s failure and have put in place adequate safeguards to prevent their recurrence in this Cardano-based project.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

3. Polygon (MATIC) – New Best Layer-2 Scaling Token To Buy

Polygon looks set to become the best new crypto to buy this year. Polygon is one of the most popular and the most valuable layer-2 scaling protocols that seek to solve the scalability and gas fee challenges facing the Ethereum blockchain. It hopes to increase the network’s competitiveness against the likes of Solana and Cardano, and be more developer-friendly. We consider it one of the best new cryptocurrencies to buy today because we expect its value to soar as more brands take advantage of its effectiveness and build on this platform.

In the recent past, for instance, Polygon has grown its ecosystem severalfold. For example, more than 19000+ dApps have been built on Polygon, DeFi platforms like Aave and Uniswap V3, Web3 platforms like DraftKings, and NFT marketplaces like OpenSea have all leveraged Polygon’s efficiency. Big-name brands like Adidas and Prada have also expressed interest in building on Ethereum via Polygon.

Investor interest in MATIC tokens has also soared. This is evidenced by the number of wallets holding MATIC tokens as well as increased funding from reputed crypto-focused venture capitalists like Sequoia Capital and Tiger Global.

Moving forward, we expect more brands to launch on this Layer-2 scaling protocol. This, plus a recovering crypto market, Ethereum 2.0 upgrade, and sped-up blockchain adoption are all expected to catapult MATIC token prices to unprecedented heights. These could help it rally and reach $7 by 2025 and further up to reach $20 by the turn of the decade.

>>>Buy New Coins Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

4. The Sandbox (SAND) – Popular New Metaverse Crypto Asset to Buy and HODL

Another of the best new crypto coins is the Sandbox. The Sandbox integrates three emerging crypto technologies into one i.e. the play-to-earn model, NFTs, and Metaverse. It is a gaming metaverse that lets players earn when they play and interact with one another and sell and trade the land and other items found here as NFTs. The relatively new metaverse has been hugely successful and currently records more than 300,000 active monthly users.

This past success, the integration of the fast-rising technologies, and a promising future are some of the reasons we feature The Sandbox among the best new cryptocurrencies to buy in 2022.

We also liked the fact that The Sandbox has a solid roadmap with a revolutionary outlook. It, for instance, plans to introduce more games to the metaverse. It also seeks to introduce more activities that draw users to the platform, such as hosting virtual concerts. And ultimately, it seeks to transform these metaverses into the largest decentralized social media platform.

The promise of a massively successful Sandbox future has endeared the platform to different brands and a host of investors. Moving forward, we expect more brands and investors to flock into The Sandbox, effectively catapulting SAND token prices to unbelievable heights – which is why we consider it the best crypto to buy today.

By 2025, for instance, optimistic forecasters expect SAND crypto to have rallied by 1400% to hit $15 and by as much as 4000% to reach $40 in the next 10 years.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

5. Chainlink (LINK) – Best Interoperability Token To Buy Today

Another of the best new cryptos to watch in 2022 is Chainlink. We feature Chainlink among the top cryptocurrency to buy because it promises to be the next big thing in the crypto world. Through its oracle network, Chainlink makes it possible for developers to write safer and more accurate smart contracts by linking blockchains with off-chain data. And its use cases extend beyond Ethereum to every other smart contract platform in the crypto-verse.

The adoption rates for Chainlink and its Oracle technology have been on the rise. It has collaborated with multiple on- and off-chain brands looking to create more accurate and safe smart contracts. Investor interest in the coin has been on a steady rise. And all of these helped the network grow its introductory price by more than 31000% when it peaked in mid-2021.

Another reason Chainlink has proved to be one of the best new cryptocurrencies this year is its ‘smart contract’ system. Moving forward, Chainlink is looking to launch more smart-contract blockchains. Its development team is also looking to make the Oracle network more useful for such emerging crypto technologies as Web3 and NFTs – which would further boost the use cases for LINK tokens.

All these, alongside a sped-up adoption of blockchain technology, are expected to help catapult LINK token prices past $100 by 2025 and as high as $300 by the turn of the decade. And the promise of such gains makes LINK one of the best cryptocurrencies to buy right now.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

6. Uniswap (UNI) – Exciting New Cryptocurrency to Invest In Within the DeFi Sector

Uniswap is one of the most popular decentralized exchanges and with a user base of more than 2 million traders by the end of 2021. It is also one of the most liquid DeFi platforms – ranked 2nd by DeFi Pulse with more than $7 Billion in total value locked. So far, Uniswap has been integrated in 300+ DeFi programs and apps, which has helped boost the use cases for UNI tokens.

At their peak, UNI tokens were 11000%+ above their introductory price. And while they may have taken the hit from the current market contraction, we expect them to rebound quickly and chase new price records. It has already proven its resilience, which is why we consider it the best new cryptocurrency to buy today.

But we also acknowledge the growing need for privacy and anonymity among crypto investors – which DEXs like Uniswap address. Additionally, Uniswap presents its UNI token investor with a passive income-generating opportunity in the name of liquidity contribution to the Uniswap DEX. These should convince you too to add UNI to your watchlist for the best new crypto to buy.

>>>Buy Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

7. Dogecoin (DOGE) – Best New Cryptocurrency with ‘Meme Coin’ Potential

Although Dogecoin is not one of the newest cryptocurrencies on the market today, The meme coin remains a popular option due to its reputation. Investors and traders continue to buy Dogecoin thanks to its incredible community backing – both on social media and from high-profile names. One of the most prominent names backing DOGE is Elon Musk, who has tweeted about the token numerous times.

Dogecoin has been back in the news lately due to the lawsuit against Musk, claiming that DOGE is a ‘pyramid scheme’. However, the case has brought more attention to the token, leading to double-digit gains in recent days. Ultimately, Dogecoin remains one of the best new cryptos for risk-seeking investors looking to achieve market-beating returns.

>>>Buy Meme Coin Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

8. Avalanche (AVAX) – One of the Newest Cryptos Looking to Rival Ethereum

Another coin of the best new cryptocurrencies to keep an eye on is Avalanche. Avalanche has emerged as a viable rival to Ethereum, offering a faster and more scalable network for developers to build decentralized applications (dApps). Furthermore, since Avalanche is made up of three separate blockchains, the network offers much lower fees than many of its rivals.

Avalanche uses a directed acyclic graph (DAG) consensus protocol rather than PoS or PoW, which has been shown to make fraudulent transactions nearly impossible to facilitate. The network’s native token, AVAX, is used for validation and network fees – although it is also burned regularly to increase long-term value. Due to its potential, Avalanche is the newest crypto coin to capture the attention of vast numbers of retail traders.

>>>Buy Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

9. Hedera Hashgraph (HBAR) – Best New Cryptocurrency with Unique Blockchain Technology

One of the top new cryptocurrency releases recently is Hedera Hashgraph. Unlike many of the best cryptocurrencies to invest in, Hedera Hashgraph isn’t actually a blockchain-based project. Instead, it is a network using a directed acyclic graph (DAG) protocol that makes transaction speeds faster as more transactions are completed.

This network has scaled hugely over the past year and now claims to be able to handle over 100,000 transactions per second. Hedera Hashgraph’s primary use case is payment processing, as it looks to rival companies like Visa within this area. Furthermore, since the network has full support for smart contracts, developers can even launch new and exciting dApps within various niches.

>>>Buy Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

10. Theta (THETA) – Top New Cryptocurrency Today Featuring Compelling Use Case

Those who buy and sell cryptos regularly may have heard of Theta, which has burst onto the scene over the past year. Theta is considered one of the best new crypto coins because it aims to revolutionize how video streaming works. This is accomplished by making the process decentralized rather than centralized (as is the case with YouTube).

Content creators will get paid for sharing videos in TFUEL – one of the Theta network’s native tokens. The network uses the THETA token for governance, although it can also be used for staking, which exchanges it into TFUEL. Finally, Theta has already garnered investment from leading companies like Sony and Samsung, highlighting why it is the newest crypto coin on our list.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

11. ApeCoin (APE) – Newest Crypto to Watch with High Price Potential

One of the new crypto coins with high potential catching investors’ attention this year is ApeCoin. ApeCoin is closely linked to the Bored Ape Yacht Club (BAYC) collection – one of the most popular NFTs on the market. Although APE is not directly created by the collection’s developers, it was airdropped to NFT holders upon launching in early 2022.

ApeCoin has also been announced as the native token of ‘The Otherside’, BAYC’s upcoming metaverse project. The token has also been implemented into other blockchain-based games, such as the super-popular Benji Bananas. As such, many think ApeCoin is the best new crypto to invest in for long-term value potential.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

12. Fantom (FTM) – Unique Blockchain Network with Low Fees

Fantom could potentially be the best new crypto due to its appeal relative to ‘legacy’ blockchain platforms. Put simply, Fantom is a blockchain network that uses similar technology to Hedera Hashgraph, enabling it to offer lower fees and faster transaction speeds than other networks. Investors who trade and buy Ethereum will attest that this has become a significant issue over the past year.

Another great aspect of Fantom is that it is compatible with the Ethereum Virtual Machine (EVM), meaning dApp developers can port their applications over to Fantom if they wish. There are already numerous popular dApps on the Fantom network, such as SpookySwap and Fantom Finance. Given the continued delays for Ethereum’s ‘Merge’, Fantom could be one of the best new crypto coins within the blockchain space.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

13. Ankr (ANKR) – Exciting New Crypto Today with Interoperability Use-Cases

Ankr is the latest addition to our list of new cryptos to consider watching today due to its revolutionary take on interoperability. Instead of being a blockchain network, Ankr is a platform that offers numerous tools for dApp developers within several niches, including DeFi and NFTs. Ankr also has a protocol called ‘Ankr Earn, which allows investors to stake across multiple chains.

In addition, Ankr allows developers to set up their own nodes, which can be accessed remotely. As such, this dramatically streamlines the node-setup process – which tends to be costly and time-consuming. Overall, as the blockchain industry expands and interoperability becomes more critical, Ankr looks set to become one of the most popular new crypto listings in 2022.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

How to Find the Newest Cryptocurrencies

Finding new cryptocurrency releases today can be time-consuming, especially for new investors who want to buy new coins. However, there are a few widely-used approaches that can narrow down the selection of potential assets and highlight projects with high value potential. Let’s take a look at a few of these below:

  • Browse Social Media: Many of the newest crypto coins are regularly discussed on social media – with Youtube and Twitter being two of the most prominent. In
  • Look for ICOs: Initial Coin Offerings (ICOs) are a popular way for crypto developers to raise funds for a new project. These involve selling tokens at a reduced price, aiming to increase capital and boost awareness of their projects.
  • Stay Up-to-Date with the Latest News: Crypto news websites are a great way to keep tabs on new listed cryptos.

Where to Buy New Crypto Coins

Investing in the best new cryptocurrency coins has never been easier due to the incredible popularity of these projects with retail investors. One of the best platforms to make crypto investments is eToro, which boasts over 25 million clients worldwide. In addition, eToro is regulated by top-tier entities such as the FCA, ASIC, CySEC, FinCEN, and FINRA – providing a high degree of investor protection.

As one of the best cryptocurrency exchanges on the market, the platform allows users to invest in over 65 Top cryptocurrencies, including some new coins, with low trading fees. Fees are set at only 1% per trade (plus the market spread), ensuring a high degree of transparency. Furthermore, eToro offers a handy ‘fractional investing’ approach, meaning that positions can be opened from only $10.

eToro’s minimum deposit threshold is also only $10, which can be made via credit/debit card, bank transfer, or e-wallets (e.g. PayPal, Skrill). Once a deposit is made, users can begin investing in the best new crypto coins using eToro’s web-based portal or mobile app. The latter is particularly useful for investors who are on the go all day, offering real-time price charts and a selection of technical indicators.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

How to Buy New Cryptos Today

Many of the coins mentioned on our list of new cryptocurrencies can be purchased through eToro – one of the world’s safest and most popular online crypto exchanges:

  • Step 1 – Create an Account: Head to eToro’s homepage, and open a free account using any of the sign up buttons. Enter an email address, username, and password.
  • Step 2 – Verify Account: Verify your eToro account by completing the required KYC checks before uploading proof of ID.
  • Step 3 – Make a Deposit: Deposit at least $10 into your eToro trading account via credit/debit card, bank transfer, or e-wallet (e.g. PayPal).
  • Step 4 – Search for New Crypto: Type the name or ticker symbol of the coin you’d like to invest in into eToro’s search bar and click the ‘Trade’ button.
  • Step 5 – Buy New Crypto: In the order box that appears, enter your desired position size, minimum $10, and click ‘Open Trade’.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

Best New Crypto to Buy – Conclusion

To conclude, this guide has provided an in-depth analysis of the best new crypto assets on the market, highlighting their various use cases and the potential they have going forward.

Although the crypto market is undoubtedly a volatile place at present, these coins remain highly sought after – and could rebound rapidly once this bearish period is over. The market is now showing signs of recovery as the total crypto market cap is back over $1 trillion.

STEP and Shen are our top two picks for the best new crypto coins on the market right now.

Both coins prices soared after listing on the markets this year and now appears ready for another price surge ahead of more listings, giving it the potential to be one of the new growing cryptocurrencies.

FAQs On New Cryptos

What is the best new cryptocurrency?

ApeCoin, Shen are our top two picks for the best new cryptos to invest in this year. ApeCoin has just launched early this year, Shen pumped after its IEO  has huge hype around its upcoming update.

 

What new cryptos will rise in 2022?

The promising new crypto projects listed within this guide have exceptional price potential and are now trading at a discount due to the market decline. Although it’s impossible to say which cryptos will definitely rise, these new coins do have the use cases and backing to rebound in the future.

>>>Buy New Cryptos Now<<<

Virtual currencies are highly volatile. Your capital is at risk.

The Faded “1 Ghana Cedi = 1 USD” Abracadabra Magic and the Mess in African Currency System

By
Ndubuisi Ekekwe
-
12
A man holds Ghanian currency in his hands on September 20, 2016 in Accra, Ghana. Ty Wright/Bloomberg News

Poor Ghana: it made 1 Cedi = 1 USD a few years ago hoping that abracadabra magical algebra makes sense in global economics/currency: “In the report, the worst-performing currencies in the African region since the beginning of the year 2022, include Ghana with a depreciation rate of 60 percent, South Sudan with 50.8 percent, Sudan with 28.6 percent, Malawi with 25.4 percent, and CFA Franc with 13.3 percent.” Today, the Cedi has lost value against the US dollars due to the fact that Ghana is not doing what America does:  productivity, innovation and high export.  

But it is not just Ghana. Some Nigerian politicians promised to make 1 Naira = 1 USD. But here we are. Of course, such is not possible when we cannot even keep the universities open for business.

Look at the CFA Franc and how it is being rattled. This is also a strong indication that currency union will not save Africa until we begin to win on innovation and productivity. You have no national positioning under a supranational central banking ordinance under a currency union within a heterogeneous market system with limited commonalities. If Africa goes ahead on its planned single currency and does this without thinking, welfare losses will be huge. 

I have made that point before the African Union Congress – and I remain hopeful that we do not adopt the EU/euro playbook without considering that EU’s economy is very homogenous and shocks are relatively more manageable.

According to a recent report from the World Bank, it ranked the Ghana cedi as the worst-performing currency in Africa since the beginning of the year with a depreciation of 60 percent against the United States dollar.

In the report, the worst-performing currencies in the African region since the beginning of the year 2022, include Ghana with a depreciation rate of 60 percent, South Sudan with 50.8 percent, Sudan with 28.6 percent, Malawi with 25.4 percent, and CFA Franc with 13.3 percent.

The report stated that although inflation in the African region was moving on an upward trend before Russia’s invasion of Ukraine, factors including the depreciation of currencies against the dollar and an increase in commodity prices had contributed to inflationary pressures.

The World Bank stated that it was imperative to tame inflationary pressures in the African region, otherwise, inflation could lead to social unrest, intensify conflict, and ultimately ignite political instability.

Comment on LinkedIn Feed

Comment 1: Well done Prof, your articles are always on point. ??

It’s always mind blowing when I hear many of our fellow Africans talk the disparities our currencies against the dollar. They think it’s unfair, and its because of anything but production.

If we can focus on the economic fundamentals; build our capacities on the things that we have natural advantage and best the at it in the marketplace, our currencies will finds their right levels.

Comment 2: You don’t have to warn Africa about currency zone, their colonial leanings will not allow them get there. Yes productivity is the way to go but before that route becomes attractive the government has work to do. That’s why I love your post on diaspora remittances. If the policies are right we can move from remittances to investment. When the investment is made by knowledgeable people expect good things with time. Currency zone is not the way, well thought out productivity that will not only serve as import substitution but also foreign exchange earner via exports. That’s what will save our exchange rate.

Comment 3: Prof we can start from somewhere. It’s twisted discourse from scholars like yourself that has been keeping Africa stagnant for years now. If you try it’s risky. If you don’t try it’s risky.

I stand for anything that will get Africa to being united….Ndubuisi Ekekwe in the last paragraph of your post above you insinuated that we should consider how homogenous the European economy is before we work on a unified African currency.

Meanwhile, you know that its our collective efforts as Africans that can get us closer to achieving such a great height.

My Response: “Meanwhile, you know that its our collective efforts as Africans that can get us closer to achieving such a great height. ” I was expecting something tangible on the “somewhere” but you offered none.  We all want AfCFTA, closer integration of Africa but we have to consider going all the way to currency union. Think about it: the economy of Eti Osa LGA in Lagos is possibly bigger than the GDP of Gambia. If Nigeria messes up under ECO planned currency, ECO will suffer and all West African countries will suffer despite whatever they are doing since Nigeria’s GDP is a big component of the region’s GDP and exerts too much weight on the currency. 

But because the economy of Nigeria (oil) is totally different from Ivory Coast (cocoa),  you cannot decouple Nigeria’s risks to the price of oil on IV  since they use the same currency. So when oil falls, IV will suffer welfare losses irrespective of what they are doing on cocoa.

Contrast with Europe where most Euro users have industrialized or largely industrializing making them more homogenous that shocks cannot be overbearing on smaller economies. “Collective efforts” in Africa requires deeper thinking over blind optimism. I send briefs to governments, World Bank, AU, etc and I will continue to do so.

1...4,8354,8364,837...7,962Page 4,836 of 7,962

© Tekedia. All rights reserved.

Term & Privacy

© Tekedia. All rights reserved.

Term & Privacy