A learning institution in Nigeria’s Kano state, the New Oxford Science Academy, recently announced it will be accepting cryptocurrency as payment for school fees. According to the school’s proprietor, Sabi’u Musa Haruna, the institution arrived at this decision after consulting parents and guardians of the students.
Move Consistent With Global Trends
As reported by the Dailypost, the New Oxford Science Academy owner also justified the move saying this is in line with the changing global trends. Haruna said:
We have decided to accept cryptocurrency as school fees because the world today is tilting towards the system. We believe one-day digital money will gain more acceptance than paper money. The decision is aimed at easing the payment of school fees for the parents.
School Ignores CBN Warnings
By accepting cryptocurrencies, New Oxford Science Academy is ignoring the Central Bank of Nigeria (CBN) and other regulators’ repeated warnings against the use and acceptance of cryptocurrencies. In their warnings, Nigerian regulators — like many of their peers across the African continent — point to the volatile nature of cryptocurrencies. They also highlight the high number of scam operations that claim to be legitimate crypto investing platforms.
In addition to attacking cryptocurrencies’ volatile nature, the CBN leadership and its governor, Godwin Emefiele, have in the past implied that decentralized cryptos are helping to accelerate the naira’s plunge on the foreign currency black market. Therefore, to curb this growth and influence of cryptocurrencies on the country’s economy, Nigerian authorities directed financial institutions to stop offering their services to exchanges and individuals that are associated with cryptocurrencies.
However, it appears the CBN directive as well as the repeated warnings have not succeeded in persuading Nigerians to stay away from crypto. Instead, as data shows, Nigeria still remains one of the biggest cryptocurrency markets in Africa. In addition, New Oxford Science Academy’s acceptance of cryptocurrency suggests interest in cryptocurrencies has not regressed.
What are your thoughts on the New Oxford Science Academy’s decision to accept cryptocurrencies? Tell us what you think in the comments section below.
This week, IntoTheBlock takes a look at what effect El Salvador's Bitcoin law has on the markets.
Every week, IntoTheBlock brings you on-chain analysis of top news stories in the crypto space. Leveraging blockchain’s public nature, IntoTheBlock’s machine learning algorithms extract key data that provide a deeper dive into the major developments in the industry.
The Implications of El Salvador’s Bitcoin Law
Following Bitcoin 2021 in Miami, crypto markets have had an eventful past few days, the most relevant of which was the announcement of El Salvador taking Bitcoin as legal tender. Announced Saturday at the end of the conference, the El Salvador congress moved quickly and approved the law by Wednesday.
Prior to the approval, the news had barely any impact on Bitcoin’s price. In fact, Bitcoin crashed all the way to $31,000 on Tuesday — with Bloomberg pointing to a Bitcoin ransom recovered by the U.S. government as a potential culprit.
Though it is still unclear the method the U.S. government used to recoup the Bitcoin paid in the ransom, they must have managed to access the hacker’s private keys, which spooked buying interest. More information on this is expected to arise in the following days to clarify the process and its potential implications on Bitcoin.
Regardless, sentiment shifted quite quickly after El Salvador approved the Bitcoin Law, making them the first country to accept Bitcoin as legal tender.
Wondering what exactly it means to be considered “legal tender”? You are not alone.
In short, Bitcoin being legal tender in El Salvador means that any business in the Central American nation has to accept it as a payment by law. In a Twitter spaces, El Salvador’s president Nayib Bukele clarified that they would go through a transitional period and help merchants accept Bitcoin payments in areas with unstable internet or lack of electronic devices.
Moreover, president Bukele announced that their government would be developing a Bitcoin wallet along with the company Strike. However, he also clarified that Salvadorans will be free to use whichever wallet they prefer, embracing Bitcoin’s open approach.
El Salvador’s development bank will also be setting up a trust fund that will buy people’s Bitcoin if they decide to sell it for dollars. This allows Salvadorans to be able to choose to opt out of Bitcoin’s volatility with their government taking the risk (and potential returns) of buying their Bitcoin.
The approval of the Bitcoin Law has generated a domino effect amidst Latin American politicians.
The recent enthusiasm in Bitcoin in Latin America has the potential to be a catalyst for future growth. While El Salvador is a small country, they are already seeing very high interest from crypto-related entrepreneurs looking to move there — with some exploring ideas as wild as mining Bitcoin with volcano-powered geothermal clean energy — likely to have an economic impact in the country.
This attraction of capital and labor creates incentives for other countries to adopt Bitcoin and crypto broadly. In turn, this should increase activity on the Bitcoin blockchain and lightning network. This comes at a critical time as transaction activity has dropped steeply to levels not seen since 2018.
Over the next 90 days, El Salvador will go through the transitory process implementing Bitcoin as legal tender. While it’s still unclear the degree of transaction activity in the country that will take place in Bitcoin, it is likely to expedite remittances which make up for over 20% of the economy.
A community known as “Bitcoin Beach” in El Zonte, El Salvador had already adopted Bitcoin as a medium of exchange and based on the Salvadoran’s president played a key role in showing the potential for Bitcoin in the country. Through this program they educated people on Bitcoin and facilitated the use of the lightning network.
Overall, this education is likely to encourage greater adoption of Bitcoin as similar programs get implemented on a national level. Throughout the coming years (months?) it will be seen if more Latin American countries end up following suit and implementing their own Bitcoin laws. Ultimately this marks a milestone as countries open up to crypto and decentralized innovation.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
CryptoJobsList gives a rundown of the newest jobs available for those in the crypto and blockchain space, right now.
Now is one of the best times for candidates to get into crypto, or to seek that dream move. The jobs market is in great health, with companies from across the blockchain sector seeking key talent in a range of roles. What though, if you live out of the way, far from the world’s major technology hubs? No problem. We have plenty of remote jobs in cryptocurrency too.
This is an absolutely bumper month for job listings and opportunities. Here we have collated some of the best and most interesting roles currently advertised on Crypto Jobs List.
Project Ark is an up and coming, fast-growing NFT platform which supports important conservation efforts for the environment and wildlife. They are currently seeking a full stack engineer to join their growing team. The right person for the role will have a passion for sustainability — in line with the project’s mission — as well as relevant experience and a desire to build awesome tech products.
Project Ark is looking for someone with three years of front and back end web development for this job. This is a very meaty role which will involve building features end-to-end, as well as contributing ideas to products and features. The successful candidate will also be expected to take those ideas from the planning stage and build the full range of code to implement them. Lastly, this is a remote job, so no matter where you are in the world — this one could be a good fit.
Like the sound of Project Ark but don’t think this is the right job for you? The company is currently recruiting for two more roles which may suit you.
Zilliqa Research is advertising for a key role that may offer candidates with experience in development something just a little bit different. The company is currently focused on building DeFi products, such as a Singapore dollar-backed stablecoin, a stablecoin coin system based on collateralized debt positions, a regulated securities exchange and a decentralized exchange for fungible tokens.
As for the role itself, Zilliqa is seeking what they call a "developer Eeangelist." This hybrid job requires someone who is part developer, part marketer, and someone who can grow Zilliqa’s developer communities. This job will therefore require someone with a very strong technical knowledge, as well as someone who can clearly communicate the benefits of Zilliqa and its smart contract programming language Scilla.
If you're interested in developer work and marketing crypto jobs, this varied job really has it all.
Merlin is another project building products in the DeFi sector, this time focusing on yield farming and auto compounding assets. Merlin takes care of gas costs, APY tracking, optimal yield strategies and security for its users with the goal of maximizing DeFi users' yield farming rewards at the lowest possible cost. Some of the assets Merlin enables its users to Earn include BTCB, ETH, BNB and MERL.
The company is seeking to add a marketing manager to the team in order to drive adoption in this competitive sector. This will require an experienced, passionate, data-centric marketer. The successful candidate will be expected to develop the company’s marketing communications strategy and lead a marketing team. As well as experience in marketing, a good knowledge of the finer points of DeFi will stand this candidate in good stead,
LinkPool is the first third-party team creating products for the Chainlink network, driving forward its usability and creating new use cases. Founded in 2017, this well-established company is a truly global enterprise, with team members based around the world.
LinkPool is currently looking for a senior devops engineer. LinkPool says this role will offer the creative freedom to think of the best ways of how to do the task at hand while working in an agile environment. The role also demands managing cloud-based infrastructure (AWS, GCP) with IaC (Terraform) and container orchestration (Kubernetes).
For this position, LinkPool is seeking a candidate with at least four years experience in a similar role. This is one of the hot devops jobs in crypto right now, and would surely be an exciting challenge for the right person.
Multis has set out its stall to build the best crypto wallet for business with automated payments, an offramp to fiat and tracking wallet features. The Multis wallet and dashboard is designed to help with the financial administration tasks businesses need. The wallet is compatible with cryptocurrencies, euros and the dollar.
The company is looking for a front end engineer to work closely with the CTO as well as the engineering, product and design teams, in order to create multiple prototypes for the Multis banking application. Multis is operating at the cutting edge of fintech, so this position could offer the right candidate the chance to build and create something truly transformative.
The candidate should have 3+ years of experience as frontend engineer with React, and will ideally also be familiar with ClojureScript and re-frame. Unlike the bulk of the roles we are discussing today, this one is a little more location-specific. Although the company does work remotely, the Multis team would prefer someone based in Europe for this particular position.
Parity Technologies is building technologies which will support the Web 3.0. Based on Polkadot, some of the areas in which Parity Technologies has operated include on-chain governance protocol upgrades, proof-of-authority consensus, private Ethereum transactions, warp sync and pruning, Rust and Wasm in blockchain.
Parity Technologies is searching for a product marketing lead to market Substrate, Polkadot, Kusama and other tools in their development ecosystem to builders — a technical audience group. The role will also incorporate market research, marketing strategy, funnel design and analysis of key data and metrics.
This role will necessitate someone with significant marketing knowledge, and Parity Technologies are looking for someone with 8+ years of relevant experience in marketing and at least five in technology.
UMA is designed to make building DeFi products easy, in an effort to make financial markets universally fair and accessible. Hence UMA, which stands for Universal Market Access. UMA enables DeFi developers to build synthetic assets with ease.
The company is searching for a software engineer to work on their Ethereum-based web3 stack. The successful candidate will be implementing, testing and auditing client libraries that are used to interact with UMA smart contracts. They will also be required to write backend APIs and off-chain bots. This role will demand a candidate with at least 2+ years of experience in Engineering at a software or financial services technology organization.
The successful candidate will work remotely and with flexible hours. They will also be entitled to paid leave.
DEXTF enables the creation of hybrid structured tokens combining the features of multiple different DeFi projects including yields, derivatives, synthetics and options. The project enables anyone to mint, trade and provide liquidity for tokenized portfolios.
The team is looking for a Senior Blockchain Developer to design, develop, deploy, and maintain smart contracts on multiple blockchains, primarily on Ethereum. Another key component of the role will be designing second layer solutions which can connect multiple blockchains.
This highly technical role demands significant industry-specific knowledge. Specifically DEXTF are seeking a candidate with 3+ years of developing in solidity jobs and 5+ years of software engineering experience.
Venture Capital firm Eden Block was founded in Tel Aviv three years ago, and has gone on to back founders from around the globe in sectors such as Web3, DeFi, privacy, custody and payments.
Eden Block currently has an opportunity for an infrastructure lead, running validators for DeFi and Web3 networks including Nym, Pocket, Vega, and many more of their portfolio. The suitable candidate will be capable of monitoring blockchain data to optimise infrastructure setups and will be able to communicate best practice to the Eden Block community.
Kleros is a decentralized court system for dispute resolution, and is one of the best established names in blockchain. Kleros sources the wisdom of the crowd, which creates an online court and arbitration services secured by cryptography and game theory..
Kleros is looking for a crypto comms guerilla, a social media specialist who shares their vision. The successful candidate will be a crypto native and DeFi connoisseur. The remuneration package also includes a significant portion of the project’s native PNK token. PNK also confers voting rights in the Kleros Cooperative.
LATOKEN is an established centralized cryptocurrency exchange which has launched over 160 IEOs. The company is now building LACHAIN, with the goal of automating capital markets. To make this a reality, the company is seeking a core developer. This is a high level role which requires serious technical knowledge and skills. It demands building a blockchain codebase with transaction processing, consensus algorithms, blockchain governance mechanisms, storage and a virtual machine.
This job also has an eye-popping remuneration package. As LATOKEN put it, "we overpay’" The candidate who lands the role will be offered an extremely lucrative stock option of between $200,000 to $300,000.
Origin Games operate in the highly exciting world of blockchain gaming. Their mission is to establish the next generation of games, pushing the sector forward with the aid of blockchain technology. The company has already launched its first game, “Cradles: Origin Of Species”. In this prehistoric world players can hunt dinosaurs and gain massive NFT rewards.
The company is looking for a Chief Marketing Officer to complete their team. This position requires a proactive Head of Marketing with 2+ years of experience. The successful candidate will manage a multi-channel marketing and community-building program that will accelerate the growth of its protocol and ecosystem.
Besides marketing experience, the right person for this position will also be knowledgeable in blockchain technology. As a mark of how seriously Origin Games are taking this particular role the company has earmarked this role a co-Founder opportunity.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
Join the CoinMarketCap Hero program and help us build the crypto community.
CoinMarketCap Heroes are a group of passionate volunteers who support our community. They are users who love crypto and are excited towards building decentralized communities. CoinMarketCap Heroes primarily help the CoinMarketCap platform grow by answering user questions and addressing urgent issues.
At CoinMarketCap, we thrive to make the world’s most accurate price-tracking website for the rapidly growing cryptocurrency space. Which is why we need your heroic help, to help bridge the gap between our team and local communities around the world.
We invite you to join the “CoinMarketCap Hero Program,” a global initiative which will bring passionate crypto-minded individuals together in order to expand the cypher paradigm. Anyone who can speak English is eligible to join the Hero program. Being able to speak an additional language is a plus.
As a Hero, you’ll be able to meet the CoinMarketCap team, attend local meetups, gain access to exclusive online webinars and provide feedback for pre-launch products. Become the voice of the CoinMarketCap community!
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If you have some crypto investments, you probably bought them from a few sources: perhaps you bought BTC from Coinbase, bought BNB from Binance, and then maybe bought many other coins or tokens from different exchanges.
It is always hard to keep track of all the coins or tokens you have when they are all over the place, or you just simply cannot remember how much you own and where you put them!
Losing control on your crypto investments could potentially lead to an unexpected loss or missing the best timing to sell your cryptocurrencies. Therefore, a good tool to help you tidy up this mess is very important.
CoinMarketCap created the Portfolio tool that allows you to input your crypto investment records, similar to providing you a nice bookkeeping tool to keep all your investments in one place — but better, as we use only CMC data and methodology to help you analyze your investment value, profit and loss!
Although we allow you to input all the transaction details on the portfolio feature, remember that we DO NOT collect any of your funds, so you are not transferring any money to CoinMarketCap. We are just keeping these records and doing analysis for you. Don’t worry, we won’t touch your funds at all!
How to Use the CMC Portfolio
Before using Portfolio on our site, as we need to know what data belongs to you, you’ll need to have a CMC account and log in. If you don’t yet have an account with us, simply go to the sign up page and follow the instructions to create a new account. If you already have a CMC account, please go to the login page and enter your email and password.
Once you’re logged in, find “Portfolio” on the navigation bar. You can start creating your portfolio by clicking “Create your Portfolio.”
From here, select one coin or token that you want to add to your portfolio first:
Steps for Creating a CMC Portfolio
Step One: Add a “buy” transaction or a “transfer in” transaction
There must be an input of funds when you started your investment. If you bought some crypto as the first step, enter a “buy” transaction from this modal. You can enter the quantity of coins you bought, price per coin when you bought it, date and time of purchasing, fee associated with the transaction and a note to this transaction.
We auto-populate the price as of the timing you entered this modal, but you can still change the price accordingly. The ability to add notes could also be a very strong tool to use, as you can note down which exchange you purchased the crypto from, so in the future you want to sell you’d know where to go to!
You can also input a “transfer in” transaction from the “Transfer” tab, which indicates funds transferred in as gifts from your friend or family, salary from your boss or for any other reasons. Same here, enter the amount you received, and you can also change receiving time, fees, and any notes that would help you remember this transaction!
Just a quick recap of what the three tabs mean:
Buy: any transaction indicating you are buying a certain amount of assets.
Sell: any transaction indicating you are selling a certain amount of assets.
Transfer: transferring in some assets or transferring out your assets for some reasons. This action won’t involve any inception value that you need to input.
Step Two: Navigate to the main portfolio page
Now you have completed the first step of creating your own portfolio! You will be led to the Portfolio main page now. Let’s assume we added a buy-in of 0.01 BTC at the price of $51,000 and purchased on Feb. 17, 2021.
Here you can see:
Your current balance, charts and summary:
The current balance is using your current asset holding amount X current price to calculate. It also shows you the 24h change and 24h change %. Along with the current balance, you can also view a line chart showing the balance value changes over time, and we provide a few timeframes that you could use.
If you also want to check out the composition of your investments across different coins, check the “Pie Chart” tab on this summary section.
Let’s assume that I also bought 1 Ethereum at US$593 on Dec. 2, 2020. Now, my balance is composed of 23.22% of Bitcoin and 76.78% of Ethereum. These values also use the current price, so if the price of BTC goes higher, it might take a higher percentage too!
Hint! When you add any new transaction, or edit any existing transaction, both the line chart and pie chart will need some time to recalculate the historical balance for you. Please bear with us and give our system a little bit of time to work out the new result for you!
You can also check the summary stats of your investment from the “Statistics” tab. Here, we show you the total profit/loss of your crypto assets along with the P&L % (profit and loss percentage) from inception of your purchase. You can also find the best performer and the worst performer amongst your assets and see their individual P&L + P&L %.
Curious about what this icon is doing?
This is the privacy mode in which you can hide the most important values such as total balance or individual asset holdings. When you click again on the icon, it unlocks the privacy mode and shows you all the data available.
Your asset holding list:
On the right hand side of this page, you’ll find a list of all coins/ tokens that you’ve added in this portfolio with some data.
Here, you can see the current price of that asset, 24h price change %, your holding total current value in your currency and in the original currency, and the profit and loss of each asset with the P&L %. There are also some actions you can take. You can add new transactions from the “+” icon on the right, or click on the “...” to view transaction details or remove the whole asset from your portfolio.
By clicking on the coin name, it would bring you to our coin detail page where you could take a good look at the coin details, or by clicking on the other data items also brings you to the transaction detail page.
Want to add a new asset or new transaction record? Simply click on the “+ Add Transaction” button and follow the same steps mentioned above!
Asset transaction details:
Clicking on the line of one asset, e.g. Ethereum in my case, will bring you to a page showing the transaction details.
Here, you’ll see the balance of Ethereum based on the current price, 24h % change and the total P&L on the left hand box, or you can see a list of transactions you’ve inputted for Ethereum. This page also allows you to edit transaction details, or remove any unwanted transactions.
You can also use the privacy mode here by clicking on the eye icon!
Do you get our CoinMarketCap apps on your iOS phone or Android phone too? Good news for you! You can now view exactly the same data on both platforms when you sign in the same account! You can not only monitor and manage your investments from our webpage, you could also do the same from the mobile app! Data will be fully synced across the platform, so don’t worry that you’ll miss anything when you are on the go.
Portfolio vs Watchlist
You probably know that we not only provide our Portfolio feature, but also another feature called Watchlist. They sound similar, and you may wonder why we bothered to separate these two features.
The concepts of Portfolio and Watchlist, from CoinMarketCap’s point of view, are totally different. Portfolio helps you to manage and monitor all your invested assets in one place, while Watchlist provides you somewhere to “bookmark” assets that caught your eye.
You can “watch” as many assets as you want, but you might not actually purchase any of these assets. Watchlist gives you a good summary of lists of assets you can keep tracking, and you can even make your Watchlist public and share it with your friends. If you want to learn more about Watchlist, please click HERE!
Enjoy using our Portfolio and enjoy earning more profits on your crypto!
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
