All you need to know about Nigerian Naira: Key Takeaways

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Nigerian naira (NGN) is the official currency of the Federal Republic of Nigeria. The Nigerian naira is managed by the Central Bank of Nigeria. It distributes and attempts to maintain price stability with it. One naira is subdivided into 100 kobos. As of March 2021, 1 U.S. dollar is equal to around 380 NGN, so it takes 380 NGN to buy one dollar. The Central Bank of Nigeria has the sole authority to issue banknotes and coins.

We won’t bore you with lots of dates and details. In this article, we’ve compiled some of the most important facts about naira, and here they are:

  • The name Naira was first introduced by more…

Altcoins Outlook: 3 Simple Trade Ideas (analytics + technical analysis)

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Bitcoin has been trading sideways for the entire month now. The BTC/USD pair has made 2 unsuccessful attempts to break through the bearish level of $ 40,000 and 3 failed attempts to break through the bullish $ 30,000.

While bitcoin is stagnant, traders have switched their attention to altcoins. After the BTC rate began to correct from $ 42,000 area, the altcoin market came to life: billions of dollars are circulating on crypto exchanges every day.

If you are stuck with Bitcoin trades, it’s time to take profits and look around: altcoins are becoming more and more attractive every day. Let’s start our analysis with Ethereum, the second most popular cryptocurrency.

Will more…

6 Interesting Forex Facts Most Traders Don’t Know

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1. How did the first Forex market look?

The barter system is the oldest method of exchanging goods for other goods. It was first introduced in 6000BC by Mesopotamia tribes. Back in the day, salt and spices were used as the main mediums of exchange. This is how the first-ever form of foreign exchange looked like. Eventually, the first gold coins were produced in the 6th century BC, and they acted as a currency. Although gold coins were widely accepted as a medium of exchange, they appeared to be impractical because they were quite heavy. In 1875, the countries adopted the Gold more…

Summing up 2020: Major events of the past year

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Congratulations, we’ve made it through 2020! This eventful year is almost over. Let’s take a moment to look back and recall its key events.

It’s difficult to even start to comprehend how much this expiring year has changed our lives. We are all wearing masks and washing our hands several times a day now. If someone told us back in 2019, that we wouldn’t be able to travel or even leave our house, we would laugh in their face. But we did face the lockdown and spent several months self-distancing, in isolation.

But apart from the much-hyped coronavirus, what other key events are worth considering? We believe that there were more…

Trading Trends We Expect in 2021

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As 2021 begins there are hopeful signs that the markets will continue to recover this year.  A new US president is promising a return to normalcy and the multi-billion US stimulus package is expected to provide a modest boost to the economy very soon. 

Other market trends are expected to continue well into 2021. Here are a few to look out for.

Biden-positive markets

On January 20, Joseph Robinette Biden Jr. will be sworn in as the 46th president of the United States.

Market analysts are predicting that his administration will bring more certainty and stability to the global economy, and that’s good news for the markets. The outlook is positive and Wall more…