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Why is lumi the most expensive currency in the world?

 

one Lumi note

Before we can about lumi being the most expensive currency in the world, it is more sensible if we first discuss the birth of the newest currency in the world.

Who are the owners of the lumi currency?

The maroon kingdom on the island of Jamaica began the concept of the lumi currency in 2014 and printed the first lumi banknote in 2017. The bank of Acompong began to issue the lumi banknote to individuals and entities, this, they did because they wanted to create popularity of the new currency.

The Economic Community of the sixth African Region ( ECO-6) was then established by the Abuja treaty in August of 2019. The newly created African Sub-Region then adopted the lumi currency in January 2020.

How can I withdraw lumi from my Swifin wallet?

Well, this is the huddle. I tell you what, digital currencies are only meant to be transacted over the internet via a digital wallet. There’s no way you can be allowed to withdraw lumi into cash through withdrawal channels like ATM, POS and the likes.

However, there’s a way you can or may convert it to cash, that is by a swap process via the platform. Massive campaign is ongoing presently throughout the African continent and Europe to create awareness for the currency. This is how new currencies become known and acceptable in the society.

The authorities are fully aware of this huddle, even new cryptos are handled the same way, however, you may spend the money in the Caribbean countries, but why there? The reason is that all Caribbean countries are member Nations of the Eco-6 (Jamaica, Barbados, Trinidad and Tobago,Haiti, Bahamas,St. Levis and so on).

Is lumi the most expensive currency in the world?

The answer to this particular question is “YES” Lumi is actually the most expensive currency in the world today and this is because the mineral that Lumi is pegged to is an expensive one among the top ten in the world which is “Gold”.

Lumi is a Sub-Regional currency just like “Euro” used in Europe and “Franc” that is used by the French speaking Nations in west Africa and Central Africa respectively. However, these other currencies are pegged against their respective fiat currencies.

Written by T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog.
Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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