How can Nigerians enjoy investing in technology?

How can Nigerians enjoy investing in technology?

FeatureByEmmaWolhe – Nigeria has recently been touted by CNN as an emerging location for tech entrepreneurs. The so-called techpreneurs are located in some 90 tech hubs across the country- the most locations out of the entire continent. But it is not just tech workers that are getting in on the sector’s growth. Many Nigerians are also looking to technology when it comes to investments. They are investing in tech-related assets or using tech platforms to invest and trade.

CFDs
A contract for difference or CFD is defined as a contract agreed between the investor and the seller. This contract states the investor should pay the seller any difference between the value of an asset at the time of the contract and the value at the end of the contract. This is a great way for investors to speculate on the rise or fall in the value of any asset without having to purchase it. The contract itself does not deal with the value of the investment per se but rather how much it changes over a certain period of time.

Cryptocurrency
Just how many cryptocurrencies there are in the world is a matter of some debate. Some say there are as many as 18,465 different cryptocurrencies in existence, while others say that many of these are inactive, and the actual figure is around 10,000. In addition, more than 300 million people are believed to use or have used cryptocurrency- a figure that grows every day. Investing in cryptocurrency and trading with it has become increasingly popular in recent years. The volatile nature of crypto, particularly coins such as bitcoin, means it has become attractive for those looking to make short and longer-term trades. But of course, this means there are risks, so investors are warned to do their research and be responsible.

NFTs
A non-fungible token is a kind of financial security that comprises digital information registered and stored on the blockchain. Each token has an owner, and this ownership is also stored on the blockchain, meaning it is completely immutable. Ownership can, however, be transferred, which means the token can be bought, sold, and traded. NFTs can include documents, music, photos, artwork or similar. Over the last couple of years, the NFT market has grown at record speed, and the trading of tokens has become a popular activity for investors. It is, however, classified as a speculative investment, and investors should be cautious regarding the legal rights bestowed through holding them.

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Asides from the other technologically advanced methods of investment, investors can also choose to invest in tech stocks. For example, there are indexes worldwide that focus on groups of tech or digital assets and equities, allowing individuals to speculate on the value of an entire sector of companies rather than just one. For those with a keen interest in technology and finance, this is a great option to consider.

There are many options available for investors that want to invest directly in tech or indirectly. Of course, investors should always have their eyes open and make sure they know exactly what they are investing in before parting with any money. There are many opportunities out there as the tech sector continues to be one of the most dynamic and exciting in the world.

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