Zuga coin or Zogacoin is a cryptocurrency that was launched in September 2020. It was founded by Archbishop Sam Zuga, the first professor of Digital Economy, an achievement he earned in the US. He hails from Tivland and is the General Overseer and Spiritual Father of House of Joy Ministry with its headquarters in Gboko, (all in) Benue State
Zuga created Zuga coin to rebuild “Africa’s dying economy”. Their plan veers towards equity and investment funding specifically for the African government instead of China. Zuga coin announced its mission to offer loans for business and investments.
But when the coin went out for its initial coin offering (ICO), it wasn’t for the faint of heart and the poor in truth or in spirit. It opened with 45,856 dollars making it the costliest coin on earth. But then, in defence of them, borrowing from China is not for the faint-hearted.
Zuga coin is legit.
Why you should buy Zuga coin?
Zuga coin has a huge market capitalization (market cap). It is assumed that the coin has over 5000 addresses with each holding almost 10,000 units of the coin. With such a market cap, Zuga coin will be visible on all cryptocurrency exchange platforms. The best time to buy into any cryptocurrency is when it’s still young, prices are bound to rise if everything is done right but it might take time. Zuga coin is new and is doing a lot of things right.
As the first cryptocurrency targeted towards Nigerians and Africans, this means partnership deals will come into play which will grow the value of the coin and encourage companies to accept Zuga coin in place of Naira. It will automatically become a substitute for paper money in some cases. When this happens, the continuous fall and fall of the naira will not have any effect on the value of your coin.
Read this – How the naira compares to world currencies
SCZ is on Etherscan, the Ethereum blockchain explorer and Azbit blockchain and cryptocurrency exchange presently allows exchange with Zuga coin (SZC) but at the moment, it is only with Ethereum. Gradually the Zuga coin is being accepted on exchange platforms, it’s just a matter of time before everyone decides to hold long term. There is no better time to buy than now.
Why You Shouldn’t Buy Zuga coin
There are thousands of cryptocurrencies and several cryptocurrency exchange platforms, but some of these currency and exchange platforms have gained a lot of trust (in millions) and have become an authority. Zuga coin is not yet an authority and is not supported by any of the giants in the cryptocurrency exchange platforms like Binance, coin base, and Huobi Global.
A few unpopular exchange platforms support Zuga coin, but one of the platforms made it clear that users might not be able to trade Zuga coin for other coins. This is something crypto traders should worry about, especially if you are new to the crypto world.
The most worrisome thing about the this coin is its price. Most cryptocurrencies like bitcoin, Ethereum, dogecoin, and others start below $1 and grow over the years to what it is today. Zuga coin started at a very ridiculous price of nearly $50,000 which is about ₦21,000,000.
Before the end of January 2021, it dropped to ₦300,000 and later ₦11,000. It was below ₦50,000 until August 2021 when it sprung to almost ₦66,000,000 leaving behind Bitcoin at about ₦17,000,000.
Despite this huge breakthrough the coin is still not recognized, not even at the national level. This is a huge discouragement for those who had high hopes for the coin. Supposed crypto traders believe Zuga coin would crash eventually.
If you intend on investing a lot of money in Sam’s coin, it is advised you do thorough research. And what we wrote here, in spite of its strengths, is not an expert counsel. Treat it as foundational study, we urge.
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