The Core Ignition Drop, which started the rewards claim on June 10, 2024, allows Coretoshis (Core Community) to unlock incentives for their contributions and engagement in the Core Blockchain. The Incentives claimed by the participating community are based on their activities up from the day they join the program until the snapshot is taken. In this article, I will discuss how to participate in the Core Ignition Drop, its benefits, and more. What is Core Ignition? Core ignition is an incentive program developed by the Core Foundation to jumpstart the growth of the DeFi ecosystem on Core Blockchain, the program started on March 11th, 2024, and will continue for six months, providing ample time for users to participate and reap the benefits, rewarding the community for their contributions to the network. By participating, users can earn rewards while simultaneously helping to fuel the growth and adoption of the Core ecosystem. The Core Ignition Program is for both ecosystem users and We
I believed you know what bitcoin is by now, if not see bitcoin here, so you've learned the basics about bitcoin and created a wallet, the next step is how to buy some bitcoins with local currency into your wallet.
But how?
You can buy bitcoins from either bitcoin exchanges, or directly from other people via marketplaces.
You can pay for them in a variety of ways, ranging from hard cash to credit and debit cards to wire transfers, or even with other cryptocurrencies, depending on who you are buying them from and where you live.
In the Us, Coinbase and Circle offer purchases with credit cards, Bittylicious, CoinCorner, and Coinbase offer this service in the UK, accepting 3D Secure-enabled credit and debit cards on the Visa and MasterCard networks.
But for the purpose of this lesson, we'll use an exchange that supports the purchase of bitcoin using a debit card such as a Master/Visa Card. The exchange we are choosing here also allows you to sell your bitcoin and get your money in your Nigeria bank account.
BITCOIN EXCHANGES AND ONLINE WALLETS
Bitcoin exchanges are simply bitcoin firms that perform bitcoin transactions such as selling, buying also having trading platforms. For example, you can buy bitcoin with fiat currency (such as Naira, dollar, Euro e.t.c) and also sell bitcoin for fiat currencies and have your money withdrawn to your bank account.
We have several bitcoin exchanges where you can carry out several bitcoin transactions such as buying and selling. Some of the major ones include
Bifinex
Bitmex
Bitstanp
Bitttrex
Bitso
Gatecoin
GDAX
Hitbtc
Kraken
Luno
Bitkoin.Africa
For the purpose of the lesson, we'll adopt the Luno exchange, Luno is a South African based bitcoin exchange company that supports funding and withdrawal in Nigeria Naira and a few other countries.
Bitkoin.Africa is also Nigeria based bitcoin exchange company, also supports funding and withdrawal in Nigeria Naira and other African countries.
So the next practical we'll do now is to visit Luno and sign up for a wallet for free. We want to create another bitcoin wallet, but this time with Luno exchange. The bitcoin wallet we created earlier on this platform on blockchain was perfect and good. It's for us to keep our bitcoin safe and secure, being the largest patronized bitcoin wallet in the world. The essence of you creating in Luno is to be able to fund your Luno account with the local currency (Naira) and buy bitcoin with it, and also be able to convert your bitcoin to Naira whenever you need to cash out your money into your bank account.
After signing up, log in to your Luno account, to view your bitcoin address, click on Receive, it will display your bitcoin address for you. I believed you already know what bitcoin address is. Please keep the bitcoin address you created earlier in the blockchain because they are different bitcoin addressed that belongs to you alone.
After login into the Luno account, click on the wallet, you will see two accounts: One is bitcoin balance and the other is your fiat (local currency balance).
Luno Bitcoin Wallet
It is the second account you fund with Naira and also withdraws from. The first is your bitcoin balance. Remember, they are both currencies.
To add your bank account details, click on withdraw, it will prompt you to add your bank account.
To fund your Luno wallet, click on the wallet link, then click on the fund account and follow the instruction to enter your master card details.
Note: For the sake of this practice especially for those who are new to bitcoin and don't know all this, you can fund your account with just #500 just to test your knowledge. It is your money, you can't lose it.
Whichever bitcoin exchange platform you choose including Luno have KYC (Know Your Customer0 policy to guide against Money Laundering and Fraud. Therefore, you shall be required to provide your BVN information, otherwise, there will be a limit to your transaction on the Luno platform.
Now that you have successfully funded your Luno account wallet with N500, let's buy some bitcoin with it.
To buy bitcoin, click Luno then follow the instruction to sign up, input the amount of Naira you like to buy. After that, it will credit your bitcoin account and you will see it there.
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