Header Ads

Emerging Market Citizens Turning to Cryptocurrency

The next big thing in the crypto space

If you are conversant with global happenings, you would know that a lot of changes are happening in the economy of the world today. It is not news that the economy of the world, and particularly, that of the emerging market are getting hammered due to the impact of the Covid-19 pandemic. The virus has spread at an alarming rate, affecting millions of people and bringing economic activities to a near standstill as nations of the world imposed strict restrictions on movement to curb the spread of the virus.

The virus has caused huge economic damage and the impact is already evident and this is likely the largest economic shock the world has experienced in this decade. According to the Global Economic Prospect, the virus has triggered a global economic recession in decades.

The ultimate outcome is not yet known, however, the pandemic will bring about a contraction in the economies of most emerging and developing markets. There will be a reduction in the per capita incomes in most emerging and developing economies this year. This calls for an urgent need for actions to cushion the outcomes of the pandemic.

Despite the measures taken by different countries of the world, such as sizable fiscal and monetary policy support, the per capita incomes of all emerging market and developing economies are expected to contract due to the impact of the virus. And this will cause millions of people in these regions to fall back into poverty. 

In terms of regional outlook, the economic growth of all EMDE regions will fall by a certain percentage. In East Asia and the Pacific regions, the growth rate is projected to fall by 0.5%, which is the lowest rate since 1967. China, in particular, is expected to slow by 1% while the rest of East Asia and Pacific is projected to contract to 1.2%. The worst impact in this region includes Malaysia, the Philippines, and Thailand with a contraction of 3.1%, 1.9%, and 5% respectively.

 The regional economy of Europe and Central Asia, on the other hand, is forecast to contract by 4.7%, with recessions in nearly all the countries. The major impact is on the Russian Federation with a forecast contraction of 6.0%, while other countries in this region such as Turkey is forecast to contract by 3.8%, Central Europe by 5%, Western Balkans by 3.2%, South Caucasus by 3.1%, Eastern Europe by 3.6%, and Central Asia by 1.7%.

It is forecast that the shock stemming from the coronavirus pandemic will cause a regional economic activity of Latin America and the Caribbean to plunge by 7.2%. Particularly, Brazil is expected to plunge by 8.0%, Mexico by 7.5%, Argentina 7.3%, Central America 3.6%, and the Caribbean by 1.8%.

In the Middle East and North Africa, economic growth is forecast to contract 4.2%, Iran in particular, the economic growth in Iran is expected to shrink by 5.3% due to the outbreak of the novel virus.

In South Asia, the Gross Domestic Product is projected to contract by 2.7%. Taking some countries in this region into consideration, economic growth in India is estimated to have slowed down 4.2% in the 2019/20 Fiscal Year which ended in March 2020, while other countries in this region, such as Pakistan and Afghanistan are projected to experience contractions by 2.6% and 5.5% respectively. Growth in Bangladesh and Nepal is expected to contract by 1.6% and 1.8% respectively due to the pandemic related disruptions.

In Sub-Saharan Africa where I belong, particularly my dear country, Nigeria, growth is expected to shrink by 3.2% this year alone, due to the collapse in oil prices occasioned by the coronavirus pandemic. That of South Africa is forecast to contract 7.1% this year alone, which is one of the deepest contraction in a century.

The term emerging markets and developing economies encompasses almost the entire world with the exception of a few wealthy countries. This is because most countries in the world are poor and underdeveloped. So if we go by the above statistics we can see that the coronavirus pandemic has delivered a huge global shock resulting in steep economic recessions in many countries of the world. The baseline forecast puts it at a 5.2% contraction in global GDP in 2020 alone.

For this reason, many countries of the world are coming up with measures to curb the impact. For example, the Federal Government of Nigeria recently has been charged to engage in more economic diversification as a measure to curb the dwindling economic climate occasioned by the pandemic. One of the measures is the move to explore blockchain options in the fight against recessions and poverty in the country.

Reports from blockchain.com showed that Nigeria, South Africa, and the Dominican Republic are once again in the Top-10 list of countries showing increasing use of Blockchain.com products; while Bangladesh flipped from a Top-10 decreasing to increasing country. And news have it that many other emerging economies are embracing blockchain technology and cryptocurrency.

What does this mean to you as an individual? I want to stress here that, if you are still relying on the conventional system to build wealth in this digital era, you might be left behind forever. You see, blockchain technology has emerged as a digital solution around the world. It is capable of turning the fortune of an individual, organization, or even an entire country.

Yes, you read the above paragraph well. The earlier you begin to learn about blockchain technology and how you can use it to change your fortune, the better for you. Unfortunately, most Nigerians have not even heard the word blockchain before let alone know how they can use it to better themselves. I could remember, I was having a conversation with a young man, and he asked for my occupation, I told him I trade coins. He then asked me to expatiate. I told him I trade cryptocurrency. His next reply shocked me. He asked if cryptocurrency was the name of my company.

Well, if you are like the young man I talked about in the preceding paragraph, then thank your stars you locate this web page. While I cannot teach what blockchain and cryptocurrency are all about in this article, I can give you an opportunity in the crypto space that has the capacity to transform your financial fortune forever.

TerraCredit to the Rescue

As we can see from all the statistics above, the impact of coronavirus pandemic is hitting hard on the economy of the world. And this economic downturn will continue way beyond this year. The only thing some of us can do to rescue ourselves and maintain our purchasing power is to turn to cryptocurrency.

I tagged the subheading above, "TerraCredit to the Rescue" because it has already rescued a lot of lives, particularly during the total lockdown in the country. I in particular, and the people around me did not feel the heat of the lockdown, I mean financially because of my investment in TerraCredit. While others were crying of hunger, imposed by the pandemic, I was having enough for myself and for people with me. In this article, I'm going to show you how you too can benefit from TerraCredit.

So, what is this TerraCredit all about, you ask? Well, I've written so much about it in my previous entries, one of which can be found here: How I have been making money online with Terrabit. They say repetition is for the sake of emphasis, so because of the positive impact this can have on your financial fortune, let's have some more information about it in this article. However, I won't go into the details of the Credit blockchain here, you can read the previous post if you want to learn about the Credit blockchain.

My focus here will be on the swap that will take place on August 1st, the features that will be added to the new blockchain, and how that will benefit the investors.

TerraCredit Coin - The Financial Solution Enhancing Global Utilization of Cryptocurrencies

TerraCredit is a Cryptocurrency, a decentralized digital payment solution to the world's unbanked adult population, a trillion-dollar market population.

Terra Foundation has designed Credit (CREDIT) to offer free and fast blockchain-based payments. Credit employs Proof of Stake which allows any user to become a block producer. Block producers support the network and get rewarded with new coins for doing so.

Terracredit August Hard Fork

 The cryptocurrency payments and digital asset exchange platform (Terra-bit) with its native token (CREDIT) will undergo major upgrades and changes in 1st August, which is fast approaching than expected. The hard fork will bring about a decrease in block reward, introduces easy mobile app + desktop mining and Masternodes base governance (DAO).

Exciting New CREDIT 2.0 Features:

  • Fast and instant transactions with 176 TPS
  • Secure and highly decentralized PoS network
  • Reward (Proof-Of-Stake and Masternode system with 20 p/block)
  • Low transaction fee close to zero 0.00000003
  • DAO (Decentralized Autonomous Organization)
  • Privacy (Participate and earn from block production anonymously)
  • Reduction of supply by 1000:1 to approximately 74 million, from 74 billion
  • After upgrades, trading will open 1000x the last closed price
  • Approximately 1 billion CREDIT to be mine in 100 years
  • Introduction of Virtual/ Physical Visa Master card in the near future
  • A new reward per block will then become 20 CREDIT 2,. 5% of which will be allocated to the governance budget, while the remaining 95% will be equally divided among Masternode owners and MiniPoS-based Stakers
  • Terracredit Masternode will require the running of a full node with a minimum of 50,000 CREDIT 2.0 as collateral. As a Masternode owner, one can participate in the governance process, voting on proposals submitted by the community which aimed at developing and improving the project ecosystem

Of all the features above, I will like to stress Masternode and how it will benefit the investors.

What is a Masternodes Do?

A full computer node that rewards the operator for performing the core consensus function of running a blockchain is known as a masternode. A node can simply be understood as a computer that plays a part in ensuring the integrity of a coin network.  It is a crypto full node (computer wallet) that supports the network by hosting an entire copy of the coin's ledger in real-time. In return, the Masternode will receive crypto coins as incentives.

Features of a Master Node 

  • It increases the privacy of transactions
  • It helps carry out instant transactions
  • It allows for voting on proposals to improve the coins
  • It enables a treasury system in the cryptocurrency market

Benefits of Masternodes for Crypto-Coin Investors

Great Profits: Investors in masternode earn more profit than those who are not. You earn daily, weekly or monthly rewards on your holding in the network. You will continuously earn these rewards while your investment remains active in the Masternode.

Vote On Improvement Proposals: Investing in master nodes allows you to vote for improvement proposals on the coin. Your privilege to vote on proposals is of course, for your overall good. The more you invest in the project the higher your vote counts.

Increase the Price: A masternode investment also gives you the opportunity to strategically increase the demand of the coin by taking out a certain amount of coins from the total supply. When more coins are taken out of the supply, the total circulating supply will reduce. When demand is high and the supply is low, of course, you know what will happen to the price.

Honest Operator: A masternode investment has a high entry barrier with a strict punishment policy to minimize manipulation or cheating in the trade.

If you want to earn real passive income in TerraCredit, then be a masternode holder. And the best time to get involved in TerraCredit masternode is now, for two reasons:

  1. TerraCredit is very cheap now. At the time of writing this article, Credit trades between $0.00001 and $0.000015. The requirement to own a master node at the time is 50 million Credit. This brings the amount to about $750 (i.e. taking the upper limit of the quoted price here). 
  2. The first set of people to operate masternode in a coin that has such features earn more than the people that join later. This is because as the number of masternode increases, the reward shared between them decreases. Dash, for example, the percentage of earning in their master node decreases approximately by 7.14% once per year, which means the approximate annual earning per year for a master node owner is 7% and will continue to decrease over time. 
As you can see, the price point of entry for TerraCredit masternode is very low now. When Dash started masternode back in 2014, the price point of entry was around $200. Now it costs a whopping sum of around $74,000 to own a masternode in the Dash network. So if you want to be among the TerraCredit millionaire, the best time to join is now. Don't just buy a small amount, if you can afford it go for a masternode. 

Note that TerraCredit will be swapped on August 1st. So the 50 million mentioned above is for the current Credit in circulation. After the swap, 50 million Credit will become 50,000, i.e. a swap ratio of 1000:1. Also, note that the swap will happen on 1st August automatically in Terra-bit exchange. So everyone is expected to move his CREDIT 1.0 from external wallets and other exchangers to Terra-bit exchange before the date.

How Can You Get TerraCredit?

  • Head over to Terrabit Exchange and Register.   
  • Complete your KYC to upgrade and secure your account (KYC is needed only for fiat transactions. For crypto-based transactions, you don't need to do KYC)
  • Make a fiat deposit by bank or credit card
  • You can also deposit Eth or USDT
  • Buy credit
  • Transfer credits to MiniPOS
  • Start enjoying your mining rewards on an hourly basis while we wait for the swap in August. 
If you don't have money to invest, you can, for a limited time,  still benefit from this laudable project. You can get $11 worth of Credit 2.0 by joining their airdrop. Don't forget, this is for a limited time only, so hurry up while the offer lasts. Join the airdrop here.  

No comments

Powered by Blogger.