With COVID-19 pandemic ravaging the world’s economy, the Chief Executive Officer of Chiji14xchange, an online trading platform designed specifically for crypto currency trading and Gift cards exchange has highlighted its effect on bitcoin trading in Nigeria.
Odum Chijioke John said, “The very wonderful thing about bitcoin is that it’s a decentralized online currency. This, simply means that it’s a currency stored online or in some cases offline but is controlled by the people and not any central bank or government. And although bitcoin was hit at first and suffered big losses as a result of the escalation of the virus but it has since recovered some pace and is expected to thrive during this period in the world market. As for Nigeria and Nigerian exchanges it is just the same as the rest of the world. Bitcoin also enables remote operations and that’s why Chiji14xchange even though we have our office base, in this time have adopted remote staff operations and still will function seamlessly.”
He said their major concern, in terms of operation goes beyond the pandemic but government agencies support to make the business more attractive to people.
“This is because we really do not know Nigeria’s stance on Blockchain and Cryptocurrencies. We have had several crypto traders being harassed and some even arrested by government agencies referring to it as scam or illegal. Also I am a very big fan of regulations as other countries are putting up for the tech, as this would help keep people in check and reduce instances of scam and illegal activities using this technology,” he said.
The company was incorporated in 2018 and has since been operating under the Cooperate Affairs Commission, Allied and Matters Acts of 1990 under the constitution of Federal Republic of Nigeria.
For milestones, the company was the first African platform for trading of bitcoin and gift cards to have application listed for downloads on the Apple and google play stores. In this regard, it has become leading company in the cryptocurrency space, with over 15,000 registered users and over 5,000 active traders monthly.
As a further push to control its space and remain dominant, Chiji14xchange will be launching an affiliate marketing system on its platform from Saturday 28th March 2020.
This platform was created to allow trading experts and non-traders to earn passive income in the African Bitcoin market, especially in Nigeria, he said.
