The Nigerian sector exchange is one of the easiest platforms available for the purchasing of stocks and shares. Offering a number of successful shares, it has allowed civilians to cash in on opportunities to invest in the likes of united bank and the access bank which reaped investors millions of Niara in profit. Currently standing at a sum of 1.64 trillion naira, banks are one of the biggest sources of investment in the country. s currently they’re worth well over $1 trillion.
‘‘The shareholders are interested on what comes to their pocket at the end of the year. So those banks that consistently declare dividend, investors would also patronize them, that is why you see the banking sector driving the entire market,” Taiwan Oderinde
The Banks stocks may have performed overwhelmingly positively, but ultimately the NSE did encounter a fall of 6.04%. The volatile naira does mean that bank shares will move in accordance to markets even though stability is much higher. However Bitcoin as an investment asset has been underestimated by many as transparency is not a strong suit. Companies offering shares in crypto operations may not have the same regulatory structure as banks but can offer huge rewards to those looking to diversify their portfolio.
Misconceptions about Bitcoin potential as its link to illegal and sometimes shady business has been exaggerated, while legitimate cases for use thanks to the blockchain have been less discussed. Even though the blockchain is essentially a public ledger allowing investors to see exactly where and when their funds are being spent. It may be some time before Bitcoin is level with stock exchanges simply due to apprehension on the investor’s side and slower adoption rates.
To conclude the Nigerian sector exchange remains the dominant force in the investing markets in Nigeria. While it is the biggest in terms of volume, its ideas are replicated in Bitcoin and other crypto markets as stocks are extremely easy to purchase either in an ICO or even as shares of a gambling company for those look for a higher risk to reward situation. Popularity with banks and such stocks has been largely down to the transparent nature and well regulated system of transferring assets as dividends are regularly announced.
Disclaimer: commentary provided here does not express the views of the website BTC.NG or the author.