The worlds largest exchange’s dedication to crypto adoption in Africa sees it target Millenials and Gen Zs from the continent’s most populous country.
Binance appears to be relentless in driving up crypto adoption in Africa’s most robust P2P market. This commitment has led to activities from the exchange to take crypto education directly targeted at millennials and Gen Z’s. The world’s leading cryptocurrency infrastructure provider is hosting a series of Campus Masterclass’ for Nigerian university students. This is in line with its efforts to increase crypto literacy in Africa through different educational channels.
Binance Educates Nigerian Universities
In a post-pandemic world afflicted by economic downturn and rising prices, the Binance Campus Masterclass Series aims to empower students. It does so by introducing them to practical strategies to obtain financial freedom. These students across several Nigerian higher institutions are set to benefit immensely from Binance’s latest efforts.
The campus masterclass falls squarely in line with the platform’s mission to drive crypto adoption and enable greater financial accessibility for Africans. It further substantiates the exchange commitments to rebuilding trust with Nigerians, as mentioned by its CEO in a recent letter to Nigerians.
Consequently, Binance ensures that students access essential resources to help them succeed in school and beyond, even as blockchain technology revolutionizes economies. The first iteration of the series would see the masterclass held offline across three universities. These higher institutions are the Federal University of Technology, Owerri, Federal University of Technology, Minna and Federal University of Lafia, Nasarawa.
On February 3, 2022, it began the series in FUTMinna, educating crypto enthusiasts about the potential available in the crypto world. Over 400 people were in attendance, learning about blockchain fundamentals, the Binance ecosystem, trading principles, and how to keep their crypto secure and avoid frauds. The following educational event will be held at FWT Theatre in Federal University of Technology Owerri (FUTO) on 10 February 2022.
Speaking about the series, Emmanuel Babalola, Director Binance Africa, reiterated the company’s commitment to ensuring more people have access to correct information. He said,
Blockchain education is at the heart of our focus in the global market. As a blockchain infrastructure provider, we are committed to ensuring that more and more people have access to the right information about the workings of the ecosystem. Africa is a very important market for Binance because we see the profound opportunity blockchain brings to the entire continent.
So far, Binance’s ongoing efforts at educating the world have seen it provide free crypto education to over 400,000 Africans since 2020. Its ongoing effort is simply bringing more awareness to thousands of people who may be disenfranchised by the economic state and poverty level they currently face. It also opens up more possibilities to them, ensuring they can secure a financial future for themselves.
Binance Sees Uptick In Wallet Users In Nigeria
Binance’s effort has brought about a corresponding increase in the number of people who use the platform’s wallet in Nigeria. Since recording its first set of users in September 2018, its user base has continued to slice a decent share of the marketplace for itself. According to Statistica, the average number of daily active users (DAU) stood at over 15,000 as of January 2021.
Average number of daily active users (DAU) of selected apps that allow for cryptocurrency storage in Nigeria from January 2017 to January 2021. Source: Statistica
The data places Binance in third place behind Luno and Blockchain wallet, which come in first and second with over 65000 and 29000 DAUs, respectively. However, Nigerians’ recent outrage across social media against Binance suggests that even more DUAs may now be using the app.
Do you think Binance’s effort will help Millenials and Gen Zs secure their financial freedom through crypto? Let us know your thoughts in the comments below.
Chris is a crypto enthusiast and a firm believer in the blockchain’s ability to create a new financial paradigm. Through writing, Chris hopes to expose the intricacies of this disruptive technology and how it is beneficial to Africans and developing countries. He aims to give readers a rational and unbiased outlook of the industry by equipping them with the necessary information to make enlightened investment decisions.
