Over the past few years, digital assets such as Bitcoin have seen an astonishing increase in popularity. Much of this can be attributed to the growing list of innovative use cases and benefits offered by these virtual currencies and their underlying blockchain technology.
Some of the widespread use cases of popular cryptocurrencies include:
- Bitcoin — Access to fast and secure financial services to all users worldwide.
- Asset-backed tokens — Grant ownership to a real-world physical assets such as gold and real estate.
- Ethereum — Facilitates building and deployment of decentralized applications (DApps).
- Stablecoins — Provide stability in a highly volatile crypto asset markets.
- IOTA — Powering the future of the Internet of Things (IoT).
Despite some digital currencies offering wide ranging use cases, the majority of people still generally view crypto assets as investment vehicles and stores of value. If simply looking at the statistics, cryptocurrencies have appreciated significantly in price over the last few years and investment in them is very attractive to not only retail investors but even large investment managers like Ark Invest are proponents and publicly traded corporations such as MicroStrategy, Tesla and SpaceX now hold Bitcoin on their balance sheets
Bitcoin, the leading cryptocurrency, has maintained an average growth rate of 87% year-on-year since 2015 — over 100% growth in value was recorded between 2020 – 2021. Thus, it is not uncommon to see people buy bitcoin and wait for it to increase in value to make profits.
As the popularity of digital assets increases and they continue to receive significant attention, more people are increasingly getting exposure into the space. New investors are taking the leap by investing in crypto assets, with a lot of people choosing to buy bitcoin and other crypto assets.
However, just like any other investment, crypto investment poses its own set of risks and challenges — and if not careful, investors can lose their money. Many people are investing in crypto without being knowledgeable on how to keep their investments safe.
Before investing in crypto, all investors must have sufficient knowledge on how to keep their investments safe. Take the time to learn the common safety pitfalls and how best to avoid them.
Below are the top must-know tips to start investing safely.
Cryptocurrency exchanges are platforms that facilitate crypto trades. They allow customers to trade cryptocurrencies for fiat currencies or other crypto assets. Exchanges are the entry point for crypto investment and it is extremely important to choose the right one when entering the market. Currently, there are over 200 listed crypto exchanges available in today’s market.
When choosing the right crypto exchange, some fundamental features to watch out for include the location of the exchange and the country’s crypto restrictions, ease of use, the exchange services and support, security features, transaction fees, volume, and liquidity, etc.
Make sure you make properly research before choosing an exchange to use. Look into the exchange’s history, check whether it has any history of security and financial breaches. Get reviews on the exchange from the community and seek the advice of experienced investors.
Beware of fake crypto exchange platforms. It is recommended to stick to reputable and recognized exchanges. For fast and secure crypto transactions, check out reputable global crypto exchange platforms such as Remitano.
The platform features a host of interesting options that enables smooth crypto transactions. Users can buy bitcoin in South Africa through the peer-to-peer channel, swap with other cryptos, make extra income by investing using the Remitano invest option, and much more.
Remitano – the global peer-to-peer marketplace is also currently developing its native token, RENEC, to improve the quality of services delivered to customers, reduce transaction fees and ensure secure and swift transactions. While RENEC is still in the development phase, Remitano has provided an amazing opportunity for old and new Remitano users to earn FREE RENEC.
Understand the Project
Before diving into a crypto investment, it is highly advisable to take time to understand the crypto asset you are planning to invest your money in. Cryptocurrency projects, just like any other business project aim to solve relevant problems. Crypto projects with sound fundamentals, clear use cases, and realistic goals are likely to thrive in the future. Those types of project are good prospects and have potential to provide a good return on investment.
Carry out detailed and in-depth research on any crypto project before investing in it. Read the project whitepaper, understand its use cases, check what the community is saying about the project — this will give you an idea of the issues or highlight strengths and weaknesses. Check the project’s development activity, the exchanges that the crypto token is listed on to ensure its market is liquid, check the total coin supply, circulating supply, and market capitalization, etc.
Avoid investing based on hype and never invest based on FOMO (fear of missing out). This is no substitute for proper research and sensible assessment of risk potential and an understanding of what you are investing in.
Choose the Right Wallet
So, you have decided on the crypto asset you wish to invest in and you have chosen the right exchange to make the purchase. The next thing is to transfer your holding to a secure wallet for safe storage. Knowing the right crypto wallet is one of the most important steps to guarantee safety on one crypto investment. After you learn how to buy bitcoin, you have to store it in a secure wallet, otherwise, you risk losing your investment to digital theft.
Choosing the right crypto wallet can be a daunting task. There are hundreds of crypto wallets in the market — each with its security features and unique level of safety. The category of wallets available includes hot wallets, cold wallets, software wallets, and hardware wallets.
Choosing a safe and secure wallet is very important and should not be overlooked. Make sure you properly research when deciding on the type of wallet to store your crypto coins. Make sure you know the difference between each category of wallets available, understand their strengths and weaknesses before choosing the most appropriate one for you.
Consider such things as – Is the wallet easy to use? Does it have a backup feature? What are the security features? Is the wallet provider transparent on how they operate? And lastly, is the wallet or provider reputable? All these are fundamental questions to seek answers to before choosing a wallet.
Also, ensure you are protecting yourself from online theft by safeguarding your wallet key and password. Safeguard your wallet by incorporating a two-factor authentication system. Beware of scam mining platforms, fake giveaways, shady ICOs and many other scams. All these make you vulnerable and put you at risk of losing your investment.
Diversify Your Investment
Investment 101 — diversify your investment portfolio. This does not only hold true when it comes to crypto investments but all other asset types.
Cryptocurrencies are inherently volatile, and there is always a potential for a market downtrend. This makes diversification a good investment strategy in crypto. By spreading your investment, you are not only allowing yourself to profit on multiple fronts but also reducing the risk of losing all your money if a particular asset becomes unfavourable.
There are over 1000 crypto projects available in the market – each offering their own unique crypto token. You don’t necessarily need to only buy Bitcoin but can also purchase other assets such as Ethereum. Do not put all your eggs in one basket! Instead, hedge your bets through diversification. This will help mitigate the risk of digital currency investing.
Do ensure you do in-depth and detailed research on the assets you wish to invest in. With proper fundamental and technical analysis, you can find some good crypto projects with great prospects.
Understand Your Risk Tolerance
While there is no definite rule on the amount to invest in cryptocurrency, it is recommended that you always invest what you can afford to lose. In crypto investment, you win some and lose some. With this in mind, always invest within your limits. Understand your risk tolerance and invest accordingly.
By allocating investments in alignment with your risk tolerance, you are potentially mitigating losses.
What is the future of crypto trading in South Africa? Find out if crypto will gain more popularity or be subjected to stricter regulations by the South African government.
Article by: Heath Muchena
STEMbees: Aburi Girls Senior High School To Represent Ghana at Global Robotics Competition
STEMbees -Twelve students from the Aburi Girls’ Senior High School in the Eastern region are representing Ghana this year in the 2021 FIRST Global Challenge – the fifth iteration of the global Olympics-style robotics event. This year’s theme, “Discover & Recover,” focuses on overcoming the COVID-19 pandemic by discovering opportunities for innovative recovery and will have participants represented from over 160 countries participating. From social projects to miniature satellites to robot design, teenagers from around the world are required to develop solutions to problems the COVID-19 pandemic has presented.
The all-girls Team Ghana is being mentored by the STEMbees Organisation and will be a part of this virtual season which began on 27 June 2021 and will end on 28 September 2021. There are three main components which are a Solutions challenge, a CubeSat challenge and a Robotics challenge.
In the Solutions Challenge, teams are to innovate STEM (Science, Technology, Engineering and Mathematics) solutions to local problems resulting from the pandemic in the areas of education, environment, health and economy. Team Ghana’s solution is focused on making biodegradable nose masks from plantain fibres that are more comfortable and do not require strings to wear.
“At STEMbees we encourage young women to become problem solvers using technology. The problem this team identified is that a large number of Ghanaians do not properly dispose of the single-use nose masks. These disposable nose masks are made of polypropylene, which takes a long time to decompose and can carry a wide range of viruses including the coronavirus into water bodies, soil and ultimately to animals and back to us humans if not properly disposed of. Also, many people complain that the masks are uncomfortable to wear, causing them to wear them wrongly or not at all,” shares Angela Koranteng, a co-founder of STEMbees.
It has been discovered that plantain trees are readily available across the country. Often their stems are left to rot after the fruits are harvested. However, these pseudo-stems of plantain trees can be recycled into fiber, reducing wastage, and providing an affordable alternative to cotton to help produce more eco-friendly nose masks.
“An exciting part about this year’s FIRST Global Challenge is the prototyping of a CubeSat. The girls are designing and building a CubeSat miniature satellite prototype and will launch it into the lower layers of Earth’s atmosphere on 25th September 2021 at their school,” adds Koranteng.
Climate change has made our weather unpredictable with rapidly changing seasons and Team Ghana’s mission for the satellite prototype is weather monitoring (measuring temperature and aerial photos of clouds) as well as assessing air-quality within the Aburi area. Their CubeSat prototype will include a mini-camera, a digital temperature sensor and a laser particle sensor in a 3d printed cube box.
Twitter introduces new feature to automatically block abusive behavior
Authored by Amer Owaida, Security Writer at ESET (Image: Supplied)
Dubbed Safety Mode, the feature will temporarily block authors of offensive tweets from being able to contact or follow users.
Twitter has unveiled a new feature called Safety Mode, aimed at curbing abusive behavior by autoblocking any unwanted tweets and other forms of online harassment. Currently the feature is available to a handful of users.
“Unwelcome Tweets and noise can get in the way of conversations on Twitter, so we’re introducing Safety Mode, a new feature that aims to reduce disruptive interactions. Starting today, we’re rolling out this safety feature to a small feedback group on iOS, Android, and Twitter.com, beginning with accounts that have English-language settings enabled,” said Twitter in a blog post introducing the new feature.
When the Safety Mode feature is enabled it will briefly block accounts for a period of seven days for using abusive language such as insults or loathsome comments, as well as for sending out repetitive or unsolicited mentions.
Once the feature is turned on, Twitter’s systems will analyze the tweet’s content, the relationship between the tweet’s author and replier, and whether there is a probability of negative engagement. The technology also looks at the relationships; if the user regularly interacts with those accounts or follows them, then it won’t autoblock them.
However, if Twitter’s technology evaluates that the tweets do contain any offensive material, their authors will be autoblocked in short order. This means, temporarily, they won’t be able to follow you, see your tweets, or even contact you using direct messages.
Users will have the option to review the details of flagged tweets and autoblocked accounts from the Safety Mode menu at any time. Additionally, they’ll also receive a notification summarizing this information before each Safety Mode period ends.
That being said, the social media platform concedes that the system isn’t perfect. “We won’t always get this right and may make mistakes, so Safety Mode autoblocks can be seen and undone at any time in your Settings. We’ll also regularly monitor the accuracy of our Safety Mode systems to make improvements to our detection capabilities,” said Twitter.
The social media giant has worked with various partners from its Trust and Safety Council during the development of the new feature. Its main aim is to better protect users by reducing the frequency of hateful comments. In the meantime, it will keep on observing how the new feature operates and will add improvements along the way before it rolls Safety Mode out to all of its users.
Harassment and other forms of abusive behavior on social media have become a perennial problem, and social media platforms have been working hard to stomp it out for some time now. Earlier this year Instagram also rolled out its own set of features aimed at helping prevent cyberbullying.
Is Johannesburg The City of “AI” Gold?
Johannesburg city, South Africa (Image: British Airways website)
Recently announced research by the AI Media Group, Cape Town, South Africa, points towards Johannesburg fast becoming the continents Artificial Intelligence (AI) Tech Capital of Africa
Launched in early 2018 the AI Media Group set out to create a new hybrid analysis, trade & advisory operation to build one of the largest communities of technology practitioners discussing the application of AI/4IR technologies in a business context on the African continent.
Dr Nick Bradshaw, Founder and CEO of AI Media stated, “One of our key goals was to assess and showcase the growing emerging market opportunity in the Africa region for this particular technology category. When we started this journey there was literally zero, or at best, fragmented data on the companies and people driving this sector in Africa. Over the last two years we have been building a much more detailed picture analyzing organizations that are active (or seeking to be active) in the African AI/4IR tech ecosystem both locally, regionally and globally. Our analysis encompassed commercial and non-commercial entities and we also looked at No. Employees, Industry, HQ City, Country, Sector, Year Founded and Specialization.”
Some clear trends are now emerging with some top-level insights summarized below.
- 1500+ companies were analyzed to establish a baseline data set
- 1389 companies had consistent data, of which 826 (60%) are based / head quartered in Africa
- 74% of these are based in South Africa, 6% Tunisia 6% Nigeria 3% Kenya 2% Egypt 2% Ghana
- 18 other countries make up the remaining 7%
- Focusing on those based in South Africa, 67% are based in the city regions of Johannesburg and Pretoria while Cape Town accounts for 29%
- 62% of all African companies active in the region are privately held
- The vast majority (50%) having less than 20 employees.
- Based on year founded, the last 5 years have seen a significant rise in the number of companies active in this sector, most likely due to the combined effects of; available funding, lower start-up costs, cloud / compute and open-source resource availability and increased commercial demand in multiple market verticals.
Figure – Artificial intelligence business distribution in Africa by the AI Media Group
- The top 5 most “active” countries are South Africa, Tunisia, Nigeria, Kenya and Egypt – this broadly maps to the top tech investment hubs in the region as indicated by analysts such as Maxime Bayen & Max Cuvellier.
- We have a growing and dynamic AI / 4IR tech ecosystem in Africa with South Africa accounting for the most frequent country of origin for companies in this sector.
- Johannesburg and the wider Gauteng region encompassing Pretoria appears to be the No.1 contender for the “AI Tech Capital of Africa” based on the organizations we have assessed so far which may (in part) be explained by greater B2B economic demand for such products and services, a mature tech entrepreneur / supplier ecosystem and commensurate skills and job opportunities with both buyer and supplier side entities.
Bradshaw concluded, “A large vendor and partner ecosystem built around the likes of Microsoft, Google, AWS, IBM, Intel, Oracle & SAP who have historically had a significant operational footprint in South Africa may also account for the landscape we currently see. This is by no means an exhaustive survey and the data is continually changing and evolving. If you want to learn more about our analysis, we will be presenting our findings at AI Expo Africa 2021 ONLINE that will run as a three-day LIVE event 7-9 September.”
Delegates wishing to join this event can sign up for a FREE here https://aiexpoafrica.com/registration/ to hear from 80+ speakers / 40+ hours of talks via a 4 track speaking programme covering; innovation & strategy, platforms & process, case studies and technology demos. Show highlights will include;
- Plenary Keynote from AI4Good Summit founder Stephen Ibaraki
- Plenary Keynote from AICE Africa founder John Kamara
- Keynotes from our event partners NVIDIA, Intel & Telkom / BCX
- National AI Strategy updates from Kenya, Tunisia, Brazil & USA
- The story of creating Amazon’s Alexa by Al Lindsay
- 50+ vendors in the virtual Expo Hall with live meeting functionality
- Live networking lounge, meet -ups & business card swap
- Embassy of Switzerland SA e-Pavilion
- Tshwane Economic Development Agency Destination e-Pavilion
- Academic R&D posters located at the Telkom Innovation Wall
- Get inspired to create art, music and new media in the NVIDIA AI Art Gallery
- FREE resource centre with unique content, programmes & learning materials
Learn more at www.aiexpoafrica.com