In order to raise awareness on crytocurrency among university students, Luno, last week, kicked off the campaign at the University of Lagos, with plans to extend the awareness drive to five other universities before the end of the year.
As the cryptocurrency market makes a dramatic comeback, Luno said it would not relent in its efforts to educate Nigerians about cryptocurrencies and to expose them to its benefits.
The company, which in January predicted a positive cryptocurrency market in 2019 driven by mass institutional adoption, said the literacy of potential investors in the market is critical to driving increased adoption and confidence in the market.
Luno operates in 40 markets across Europe, Southeast Asia and Africa and has seen nearly three million people registered on its platform.
Country Manager at Luno, Owenize Odia, said: “We are committed to educating our customers given the nature of the market and the tendency for people to fall into the wrong hands while online.
The literacy tour at the University of Lagos had over 300 students participated, where Odia reiterated that the market volatility required users staying ahead of the curve.
Odia noted that the existing financial system was built for a non-digital age, ignoring the needs of the modern individual. Unlike fiat money, bitcoin is decentralised, meaning it does not rely on any central body, government, financial institution or executive body to operate.
It is peer-to-peer network which relies on blockchain technology, cryptography and advanced mathematics.
“We are contributing by investing heavily into our Luno Learning Portal, which helps the public, the media, and other stakeholders educate themselves about the facts, opportunities, and risks in the cryptocurrency market,” Odia said.
Over 2.5 million people use Luno’s platform to carry out activities like buying and selling of Bitcoin and Ethereum. According to the company, its learning portal would provide valuable informative materials for end-users ensuring they have all the knowledge they needed to make informed decisions and also protect their investments. Luno has also carried out Webinars, Meetups and cryptocurrency events to bridge the learning gap both in Nigeria and across Africa, Europe and Southeast Asia.