The Patricia Blog
Stories from the easiest and most trusted place to buy, sell, and use crypto
Crypto: The Secret Ingredient Of The Future
Everyone has that favorite meal that they can cook with their eyes closed. While some recipes are easily available for anyone to learn from, some come with more complicated processes.
You might ask what the relationship between food and crypto is, but have you ever thought of crypto as being the secret ingredient of the future of finance? The secret recipe that no one wants to reveal, hence the whole world learns of its relevance.
Cryptocurrency is the future of currency and cross-border transactions.
At Patricia, what we do is centred on making crypto transactions easy, convenient and you can rely on us for all your crypto trades.
While cryptocurrency traders are like chefs whose goal is dedicated to see the preparation of each irresistible dish, to prepare that one dish everyone cannot resist, so they keep coming back for more and eventually, other chefs would find ways to try to replicate that same dish.
With the development of numerous cryptocurrencies since the first one emerged in 2010, we can say that crypto is fast becoming part of the financial market.
This inclusion benefits more than just the crypto traders. It affects the world at large and the future of how transactions are made.
This currency of the future will enable small businesses to thrive when it comes to payments. In present times, some offline stores already accept bitcoin as a payment method. Even though there are less than a handful in Africa, there’s more in other parts of the world. This is not excluding the various sectors of the economy- education, healthcare, creative industries, and others.
A decade from now, the universal language of money would no longer be fiat, it would be cryptocurrency, and that’s a fact yet to be proven, but certain to come true.
Statement Regarding the Recent Restrictions on Withdrawals
Over the last five years, we have become synonymous with Bitcoin and crypto trading. We have been at the forefront of crypto adoption in Africa, and despite governmental and environmental challenges that have tested our efforts to drive adoption in Nigeria and Africa, we have remained resolute.
Our efforts did not go unnoticed, as we quickly became a household name, garnering prestigious awards across the world. However, public recognition comes with its fair share of risks.
Our services are divided into three arms: Patricia Personal, Patricia OTC Desk, and Patricia Business. Not long ago, we were victims of a breach. Patricia Personal, the retail trading application, was solely affected by this breach; BTC and Naira assets were compromised. Every other crypto balance remains unaffected, and we assure the public that all our customers' and merchants' assets are secure.
In light of this, we are undergoing internal restructuring and temporarily suspending withdrawals on our app (mobile and web). We understand how this has affected our customers, and are truly appreciative of your patience through this inconvenience. We assure you that we are working to strengthen our security measures.
Our security team, with the help of law enforcement agencies, has been able to identify an individual among the syndicated group responsible for this breach. We will continue to pursue this lead and work with security agencies and other partners to ensure a thorough audit of the situation and recover the assets.
Our users remain at the heart of what we do, and we will continue to provide updates on this situation to all stakeholders.
Patricia Technologies Limited.
The New Patricia App is Here: What to expect.
For half a decade, Patricia Technologies, (Africa’s largest indigenous Crypto exchange by user base) has redefined the way people interact with Cryptocurrencies. In 2019, we launched the first version of our mobile app, allowing users to buy, store, sell, send & receive Bitcoin, we went further to power their everyday transactions with cryptocurrencies.
Now, sometime in 2021, we added ETH features, giving more versatility to our user's crypto wallets & debuted Africa’s first-ever Cryptocurrency debit card across Nigeria. We’ve spent our first few years in business, setting the blueprint for Africa’s Crypto space & fostering crypto adoption & education across the continent.
And from Friday, 28th April 2023. we’re introducing the all-new and re-imagined version of our mobile app will be live. This new version promises a gamified and genuinely seamless experience.
We understand how essential it is to have a secured diversified portfolio, we’ve added new coin offerings to the crypto wallets, added extra protocol layers to ensure security while users sort out their Crypto needs and can guarantee all users of an immersive new experience on the version of our mobile & web app.
So, What’s New?
The mobile & Web app dashboard sports a new look, completely different from what it used to be. It is user-friendly, simple to use, and caters to all your crypto and trading needs.
On the new dashboard, you can navigate between live market updates,the coins in your portfolio, and have access to 24/7 support as well as crypto learning facilities.
And this is what the new dashboard looks like,
What New Coin Offerings?
We understand that volatility is an abiding factor in the crypto market and having to deal with losses in a bear market doesn’t come easy for everyone. Specifically, crypto enthusiasts in developing nations.
So, we figured that our users will benefit greatly from the perks of having a diversified crypto portfolio. We’ve introduced newer coin offerings and our very own stablecoin & token. Users can now buy, sell, store, send & receive BTC, ETH, DOGE, USDT, TRON, and XRP.
The non-crypto wallet balances will be stored in USD, we’ve also added newer stablecoins & crypto coins to ensure our users have a well-diversified portfolio.
Take a look
Having been in business for half a decade, one thing of pride for us is our focus on powering crypto transactions in the simplest and easiest ways possible, from signup to payout/deposit. Users will now Enjoy seamless & even swifter payments using our enhanced P2P Transfer feature, as this reimagined version sports more pay-in and pay-out options.
All users who want to experience this new version will have to download it from their respective app stores (ios & android) to access the new features, using their existing username & password after the download.
Cryptocurrencies are the future of payments, and Blockchain technology is the underlying infrastructure of the digital world. And, Patricia Technologies is redefining everyday transactions through the power of Blockchain Technology one Crypto transaction at a time!
Make the switch! Download the new PATRICIA UNIVERSE APP & experience the future of Crypto transactions today!
Patricia Technologies Collaborates with Lagos State Government on Tech Strategy..
Patricia Technologies, a leading tech company based in Lagos, is proud to announce its engagement with the Lagos state government on a tech strategy for Lagos and Nigeria as a whole. As a company that is dedicated to driving innovation and growth in the tech industry, Patricia Technologies is positioning itself as the go-to partner for government bodies on tech initiatives.
Recently, the CEO of Patricia Technologies met with the Governor & other government officials in Lagos state to share the company's plans for the region. This marks an important step in Patricia Technologies' efforts to work closely with governments on implementing innovative tech solutions that can help drive economic growth and improve the lives of citizens.
During the meeting, the CEO of Patricia Technologies presented the government with a detailed plan for a tech strategy for Lagos and Nigeria. The plan includes a variety of initiatives designed to support the growth of the tech industry in the region, including investments in (human capital) education and training, support for startups and small businesses, and the development of new technologies.
(Patricia Technologies CEO - Hanu Fejiro Agbodje with MR. Governor Babjide Sanwo-Olu of Lagos State & other state officials)
In addition to rubbing minds with the Lagos state government, Patricia Technologies’ founder also announced the launch of their innovation hub. This state-of-the-art facility, which is located in the heart of Lagos, will be the home of the company's research and development efforts, as well as a space for collaboration with other tech leaders. The innovation hub will provide a platform for the development of new technologies and the incubation of promising startups, helping to drive innovation and growth in the tech industry.
"We are excited at the prospects of working with the Lagos state government on a tech strategy for the region," said the CEO of Patricia Technologies. "Our goal is to provide the government with the tools and resources they need to drive innovation and growth in the tech sector. With our expertise and experience, we are confident that we can help the government develop a comprehensive plan for the growth of the tech industry in Lagos and Nigeria."
With its focus on government partnerships and its commitment to innovation, Patricia Technologies is positioning itself as a key player in the tech industry. The company is eager to continue working with government officials to drive progress and bring new solutions to the market, helping to drive economic growth and improve the lives of citizens in Lagos and Nigeria.
For more information & inquiries visit www.mypatricia.co
Innovation and Disruption: Hanu's Vision for Fintech in Africa"
Patricia Technologies has established itself as a thought leader in the Crypto & Blockchain space in Africa and is gaining recognition on a global scale. The company is known for its high transaction volume and efforts to increase the adoption of Crypto by powering everyday use cases.
Over the past five years, Patricia Technologies has greatly increased the number of crypto-aware Africans and has continued to educate enthusiasts about the technology.
Recently, the CEO & founder of Patricia Technologies spoke at the Web Summit conference in Lisbon, Portugal, one of the world's premier tech conferences.
The Web Summit (which originally was held in Dublin, Ireland until 2016 when it was moved to Lisbon)is a prestigious global technology conference that brings together leaders from the tech industry, including founders and CEOs of tech companies, fast-growing startups, policymakers, and heads of state, to discuss the future of technology.
At the recent Web Summit conference in Lisbon, Portugal, the CEO of Patricia Technologies sat down with Kimberley Waldron to discuss the future of fintech in Africa. Hanu shared the story of how Patricia Technologies had grown from a small gift card exchange to Africa's largest Crypto exchange by transaction volume. He discussed how the company had disrupted the traditional financial system with its smooth and innovative financial solutions, and how it had continued to push the boundaries of what was possible in the Crypto and blockchain space.
Hanu spoke about the company's efforts to increase Crypto adoption by powering everyday transactional use cases, and the impact that this had had on the number of Africans who are now crypto-aware. He emphasized the importance of increasing awareness, funding, and access to technology advancements in Africa, and the role that mentorship, incubation, and education can play in fostering the growth of the fintech industry on the continent.
Hanu also highlighted Patricia Technologies' pioneering work in the space, including the launch of Africa's first Crypto debit card. This groundbreaking product allows users to easily and securely spend their Crypto in everyday transactions and has helped to increase the practicality and utility of Crypto for everyday use.
Overall, Hanu expressed his belief in Africa's potential to lead the conversation around Crypto, Web3, and blockchain, and his commitment to fostering the growth of the fintech industry on the continent. He discussed the opportunities that exist in the Crypto space, and how they are not limited by geography. He also emphasized the need for collaboration and cooperation between different players in the industry, in order to drive innovation and growth.
For more information & inquiries about Patricia Technologies visit www.mypatricia.co
Why Trading Is Easy On Patricia OTC Desk.
Over-the-counter (OTC), as the name implies, involves trading without "exchange" supervision. In other words, OTC makes trading convenient without going through various lengthy procedures; which is what we provide for our users here at Patricia OTC desk.
Our over-the-counter (OTC) desk is an exclusive and personalized service outside the Patricia App. The Patricia OTC desk is a platform where high net-worth individuals get instant liquidity for their bulk trade, with utmost privacy and the most competitive rates. Via this platform, our users can trade fiat (Naira, Pounds, USD, etc) to crypto and vice versa.
What are the benefits of Patricia’s OTC trading?
We offer a range of services on our OTC desk and some of our benefits include:
- 24/7 operation
- Enabling bulk transactions
- Unlimited coin options
- Private transactions and many more.
How to trade over-the-counter?
For your convenience, we strive to make crypto payments easy through the following steps:
A secured link will be sent directly to your authorized personal/ business mail to submit the required details/ documents. Afterwhich, our team will approve this and you can begin trading!
Trading and communication:
Our trade agents are here to guide you through a tailored experience that ensures you are involved in every step.
__Payment and settlement: __
Once you have gone through the necessary steps, the settlement timeline for each trade volume will be communicated before each trade is communicated.
With these easy steps, you will be able to be a part of Patricia’s OTC trading, which will enable you to trade from anywhere around the world.
PATRICIA AT OUI CAPITAL TOURNAMENT
This past weekend Oui Capital hosted the first-ever football tournament for Nigerian Tech innovators tagged the “Start up Cup” with the goal to bring together startups within the ecosystem in one space without a podium, moderators, panelists, mics, and everything else that suggests a "conference”.
This tournament held in Lekki, Lagos last Saturday, 25th of June, 2022 in ideal weather. anl event intended to unite the innovative startups in the Nigerian Tech-ecosystem.
As expected the “Patricia Soccer Stars” were in attendance to put their skills to the test against other innovative minds in the tech industry.
The first match kicked off at 11am between Eden Life and MVX began. Eden Life quickly dispatched MVX, outplaying them to a 4-0 score, and advanced to the semifinals.
The next matchup had the “Patricia Soccer Stars” playing against the Trade Depot team. The game kicked off cautiously with both sides trying to gain the upper hand. Soon enough Team Trade Depot took the lead, with the Patricia Soccer Stars increasing their efforts to save the match. Unfortunately, Patricia gave up two more goals, putting the final score at 3-0.
(Team Patricia entering the match against Team Trade Depot)
The so-called "El-cashico" game,in which Paystack defeated TeamApt 1–0 to qualify for the semifinals, was played between the two teams.
Economy and Cassava played the last match in the first round, anding up as the first match to proceed to penalties, with Herconomy emerging victorious
For a quick fun break after the first round, the fans were welcomed to the ground to participate in some side attraction games after the first round, and a dancing ensemble delighted the crowd.
Carrying on into the second round saw Eden Life and Paystack locked in a fierce play for a spot in the finals, which ended in victory for Eden Life, as they scored a last-minute goal.
This left Trade Depot playing against Herconomy to secure a spot in the finals. For which Herconomy will have to try in the next season as Trade Depot moved on to play against Eden Life in the finals.
The spectators were not left out in enjoying some competitive action as they slugged it out in sack races, egg races, and spoon races, where Patricia finished in second place.
For the finals. Trade Depot emerged the first Start-up Cup champions after defeating Eden Life, who was the fan's favourite to win it all at this time.
The 1st, 2nd & 3rd place teams left with trophies and medals respectively as did the other teams that competed in the tournament.
Our CEO Made Advance Media's "Most influential Young Africans" Class of 2021.
For us at Patricia Technologies, 2022 couldn’t have started on a better note. Our January is off to a great start as our chief do the most officer made the Avance Media list of Most Influential Young Africans of 2021.
Avance Media, Africa’s leading African PR & Rating firm, recently announced its 6th publication of the annual ranking of 100 Most Influential Young Africans, a list that celebrates the brightest and most successful young Africans across the continent.
The list features Africa’s brightest minds across tech, business, Finance and entertainment industries and it is a laudable recognition for us to see our CEO listed amongst the 21 Nigerians who make up the county’s representation on the list.
This year’s list throws a huge spotlight on personalities pursuing their dreams, creating magic and bent on putting Africa in the global spotlight!
It is worthy to note that the Criteria for selection for Avance Media’s 100 Most Influential Young Africans included in this list are; excellence in Leadership & Performance, Personal accomplishment, commitment to sharing knowledge, breaking the status quo and being an accomplished young African.
To say that our CEO more than fit the bill will be an understatement, but we do not like to toot our horn and this recognition goes far to commend the thriving crypto-powered ecosystem we are building via our super app.
Under his leadership, Patricia technologies have grown from a mere idea to a billion-dollar valuation company and we are still reaching for the stars.
With 52 males and 48 females representing 32 countries on the continent, this year’s
publication throws a huge spotlight on various talents and personalities pursuing their dreams
in pursuit of making the continent proud and setting an example for young people on the
With individuals from industries such as technology, business, and entertainment, the MD of Avance
Media, Prince Akpah mentioned that the continent is blessed with a lot of inspiring young
people who have the power to prove the worth of the continent’s future. He also mentioned
that African leaders, must focus resources on training its youthful population to be ready to
compete with other young people from across the world.
El Salvador Assembly Approves $150Million Bitcoin Trust.
Sometime in June this year, El Salvador made the headlines for being the first country in human history to consider using Crypto (Bitcoin) as a legal tender. Sept. 7, 2021, will see this history made as the North American Country becomes the first in the world to adopt cryptocurrency as a legal tender.
Fast forward to Aug. 31, 2021. The Finance Commission of the El Salvadoran Assembly has agreed to create a $150 million Bitcoin trust. To facilitate exchange between Bitcoin and U.S. Dollars, the national newspaper El Diario de Hoy reports. Since 2001, the U.S. dollar has been the official currency in El Salvador which bitcoin will join and not replace as legal tender.
With 64 votes in favour and 14 votes against, the funding got approval as El Salvador prepares to officially adopt bitcoin on Sept. 7, 2021.
María Luisa Hayém Brevé, the El Salvadoran Minister of Economy, reportedly said that there is a possibility of increasing the initial $150 million allocations. She also touched on the fear and doubt El Salvadorans have shown as regards adopting Bitcoin. To this end, the government is doing its best to onboard El Salvadorans on the Chivo wallet.
However, one thing is that the financial world will be watching El Salvador in the coming weeks as it becomes the first country to adopt decentralized digital currency.
Despite the uncertain mandated nature of the Bitcoin law, El Salvadorans can decide to either accept Bitcoin or take $30 worth of Bitcoin commission-free. The Bitcoin Trust will help aid continued trade in dollars for those wary of this ground-breaking financial technology.
The parliament also agreed to change this year’s General State Budget to repurpose a $500 million loan from the Central American Bank for Economic Integration. To make provision for the Bitcoin trust to be managed by the Development Bank of El Salvador (Bandesal).
By Sept. 7, every El Salvadoran will have access to $30 in Bitcoin from the government through their Chivo wallet app. All bitcoins gotten or exchanged on the Chivo app will be commission-free, and citizens can begin to legally receive Bitcoin as payments without having to pay additional changing fees.
The purpose of this law is to financially support the alternatives that the state provides, without prejudice to private initiatives, that allow the user to carry out the automatic and instantaneous convertibility of bitcoin to the United States dollar.
Twitter is set to launch a Bitcoin tipping service for users.
Twitter is now testing the ability to tip users in Bitcoin through Jack Maller’s lightning network app Strike.
Reports indicate that the micro-blogging platform’s new feature will be facilitated through Jack Maller’s wallet service, Strike, which is powered by the Bitcoin Lightning Network.
Earlier this year, Twitter had introduced the “Tip Jar” feature and now it is beta testing an update that allows content creators receive tips in Bitcoin. The report stated that Bitcoin is not yet available to select as a tip option in the release, but closer inspection of code suggests that Twitter is in the process of rolling it out to beta users and perhaps all users in the long run.
Mobile developer Alessandro Pa0luzzi also leaked an image of what the service looks like so far.
“We use Strike to generate Bitcoin Lightning invoices so you'll need to connect your account to accept Bitcoin tips,” the instructions read.
According to The Block, the new lightning service will be Strike enabled and also support Square’s forthcoming hardware wallet. The company also lists Blue Wallet and Wallet of Satoshi as examples of custodial wallets and Breez, Muun, Phoenix and Zap as examples of non-custodial wallets. Twitter will also use Strike to produce Bitcoin invoices. For now, Twitter users will need a Strike account to receive tips in Bitcoin.
The addition of a Bitcoin tipping option is in keeping with Twitter CEO Jack Dorsey’s promise to investors in July that Bitcoin was important to the company and would be coming to the Tip Jar in the future. Currently, Twitter allows users to add Bandcamp, Cash App, Patreon, PayPal, and Venmo links to their Twitter profiles
Jack Dorsey has doubled down on his interest in all things Bitcoin lately, including increasing Square’s Bitcoin holdings, continued development on Square’s hardware wallet, his TBD venture into peer to peer exchanges, Bitcoin mining, and Bluesky, an open and decentralized standard for social media.