• Latest
  • Trending

Self-banking Africa with Klever

July 21, 2021
Why build our own Blockchain?

Why build our own Blockchain?

July 4, 2022
Blockchain Scalability

Scalability & Performance on KleverChain

July 4, 2022
Apply to write Klever News content

Apply to write Klever News content

July 4, 2022
Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

June 30, 2022
South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

June 29, 2022
buy KNC

How can KNC be used in Klever Wallet

June 29, 2022
ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

June 28, 2022
Bitcoin reaching its mid-halving: Reasons & forecast

Bitcoin reaching its mid-halving: Reasons & forecast

June 28, 2022
Blockchain tech is playing a powerful role in LGBT projects

Blockchain tech is playing a powerful role in LGBT projects

June 28, 2022
The difference between layer 1 and 2 blockchains

The difference between layer 1 and 2 blockchains

June 27, 2022
regulate

Governments are rushing to regulate cryptocurrencies

June 27, 2022
Swift

SWIFT testing decentralized technologies for CBDC interconnection

June 27, 2022
Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
No Result
View All Result

Self-banking Africa with Klever

James Enajite by James Enajite
July 21, 2021
in Global
Reading Time: 4 mins read
405 17
A A
0
Share on FacebookShare on Twitter

The African continent suffers from one of the highest rates of unbanked worldwide, but apps like Klever offers the new generation a way to self-bank and take charge of their financial independence.

The need for financial liberation and its actualization is a concept which has been propagated since the advent of traditional financial institutions such as the commercial banks. 

A basic definition of a bank is a financial institution which performs the deposit and lending function. A bank allows a person with excess money (saver) to deposit his money in the bank and earn an interest rate. Similarly, the bank lends to a person who needs money (investor/borrower) at an interest rate. 

These processes deployed by the banks are some of the ways banks make money from their customers on both sides of the transaction. However, the banks do not actually own the money, but since they are recognized as financial institutions, they are assumed to be a better custodian of the people’s funds, than the people themselves.

You might also like

Why build our own Blockchain?

Why build our own Blockchain?

July 4, 2022
3.4k
Blockchain Scalability

Scalability & Performance on KleverChain

July 4, 2022
3.5k

This has brought untold hardship on the customers who over a long period of time realized the banks were ripping off their customers by charging outrageous interests on the money they lend out in their possession, and only paying a little fraction to customers who come to deposit or save their funds in the banks. 

These activities coupled with the difficulty surrounding the creation of bank accounts with the financial institutions themselves, leading to rampant unbanking rates in Africa, has led to a high decline of creation, trust and maintenance of bank accounts. Other challenges surrounding the creation of such financial institutions include the availability of branches in remote areas of the African continent due to the geographical locations and a lack of professional personal support and service. 

The use of the internet also helped change some of the traditional banks to one powered by mobile internet which also helped to reduce the degree of difficulty attributed to the mode of operation by these banks.


However, blockchain technology which stands on the principle of immutability, transparency, peer-to-peer technology, and distributed ledger system has demonstrated the potential of a total migration from the traditional banking methods to a more dynamic and democratic way of handling transactions. 

This has been tested and proven to work efficiently from the creation of Bitcoin in 2009 and other alternative coins in the years following.

The development of other financial models on the blockchain like the  DeFi protocols and smart contracts have demystified the potentials accruable to the blockchain technology.


The introduction of Klever app in 2020 which is a simple, powerful, smart, and secure crypto wallet which can be used to store, trade and make payment using cryptocurrency that today serves over 3 million users worldwide has indeed transformed the need for use of traditional financial system of which the bank is the major beneficiary. 

Klever has transformed everyone who owns a mobile phone into a bank for themselves.

Whereby payment, staking, p2p transactions and savings can be done seamlessly from the comfort of their mobile telephones. All powered by the Klever ecosystem.

Users can trade countless tokens available in the Klever app in Klever Swap, a natively built swap mechanism powered by autonomous bots that allows users to have full self-custody while trading their coins and tokens at the push of a button, saving users both time and money, while giving them a bank of their own in their hands.


More recently on the newly launched Klever Exchange, which uses advanced form of encryption technology for the safety of funds of its users under Klever Custody, Klever.io has built the foundation of what is set to become the fastest exchange on the market. Simplicity is once again the key element for the user experience, which will attract countless new users throughout the continent over the coming months.

Klever’s products, supporting Bicoin, Etheruem, Tron, Binance, and all of the other most used and major blockchains in the world, have enabled more people in Africa to become their own banks by making them have access to their funds whenever needed without them having to face the challenges associated with the traditional finance system. 

Klever’s strategic partnership with leading global crypto tourism company Travala.com, which is a platform for hotels, flights and accommodation booking, covering more than 2.2 million hotels and properties, enabled people worldwide to make their payments using the Klever token, KLV.

Instantly, all paid in crypto, or specifically, KLV, for more than 3 million travel products on a global scale. That is a powerful addition to the Klever ecosystem.

This move has the potential to make Klever a household name in the crypto aviation and tourism sector, and an additional payment gateway that has now become one of the many growing use cases for holding KLV. 

Why wouldn’t you rather bank with Klever? It’s obviously the best thing to do and your freedom to financial stability and independence. Simplicity is Klever.

By James Enajite

Klever Nigeria Admin

Previous Post

Central Bank Digital Currency (CBDC) is not a cryptocurrency

Next Post

Klever Swap Lists SuperFarm (SUPER)

James Enajite

James Enajite

A passionate lover of crypto and mankind with an active mind to create content to educate everyone within my sphere of influence. An entrepreneur with an open heart to accommodate young aspiring individuals to achieve their best in a global space.

Related Stories

Why build our own Blockchain?

Why build our own Blockchain?

by James Enajite
July 4, 2022
0
3.4k

Transformation is a continuous process and everyone who intends to succeed must make a concerted effort to continue to improve...

Blockchain Scalability

Scalability & Performance on KleverChain

by Jagdish Kumar
July 4, 2022
0
3.5k

Developed for some time, Klever's Blockchain ( KleverChain ) is beginning to create a fair, easy, and safe crypto ecosystem....

Apply to write Klever News content

Apply to write Klever News content

by Warren Manuel
July 4, 2022
0
3.6k

Do you possess the skills to write original, quality crypto and blockchain content? Interested in joining our team of writers...

Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

by klever
June 30, 2022
0
6.2k

At Genesis Block, Klever Foundation will manage and operate all network validators to ensure stability ahead of public validators joining...

Next Post

Klever Swap Lists SuperFarm (SUPER)

Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
3.3k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
3.4k

Popular Story

  • bitcoin news

    Bitcoin battles back from record losses to $21,000

    1839 shares
    Share 736 Tweet 460
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    2332 shares
    Share 933 Tweet 583
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    1489 shares
    Share 596 Tweet 372
  • Love Monster joins forces with Klever

    2379 shares
    Share 952 Tweet 595
  • Rollout Phases of Klever Blockchain Features

    1107 shares
    Share 443 Tweet 277

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Wallet
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Why build our own Blockchain?

Why build our own Blockchain?

July 4, 2022
Blockchain Scalability

Scalability & Performance on KleverChain

July 4, 2022
  • Marketcap
  • Sponsored Content
  • Advertise
  • Contact Us

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Clear Clear All
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00