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| 1 Lumi BankNote |
Negative reactions from beneficiaries of the Eco-6 Lumi stimulus over the issues bothering on conversion or withdrawal of the digital asset being paid monthly into their Swifin accounts.
Most of the Beneficiaries expressed worry saying they have waited more than enough yet can’t withdraw, swap or convert the digital currency in fiat currencies that can be accepted within their locality.
The exchange rate maintained a stable graph for the past four days. Prior to this stability, Lumi currency declined by about 0.28% to maintain a stable rate of 6755.39 NGN Nigerian Naira.
NewsWay believes that the inactivity of Swifin Users is the reason why Lumi remained inactive on the platform. Experts in the digital assets management explained that CBDCs and Cryptocurrencies gain are considered valued only when being traded with. By this insight, Lumi currency beneficiaries ought to first put it to use by themselves then create some kind of scarcity by buying it off from those who are getting it for free and this can only be perfectly achieved at the expiration of the stimulus in October 2023.
A breakdown of the conversion rate today 19/03/2022
One unit of Lumi Currency is being converted at the rate of 6755.39NGN and same is being converted at the rate of 242.13ZAR and 117.76GHS respectively.
In a separate development, 10 investors now willing to buy Lumi. Though this move is countered by fear that they have not traded in digital assets before. Trading in currencies is profitable but trading in digital currencies is risky as there may be cases of account hacking, scamming and sometimes the platform user himself might forget his login details.
This has posed a serious threat those willing to invest in the Lumi digital currency.