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Binance is in the top 3 most used cryptocurrency exchanges in the world. Referred to as the world’s biggest crypto exchange (at least by volume of trading), Binance was founded in 2017 and registered in the Cayman Islands.  In 2021 Binance was responsible for $7.7 trillion in crypto exchange volume

Binance in June 2017 launched its own developed cryptocurrency, Binance Coin (BNB). As of 2021 BNB was the cryptocurrency with the third highest market capitalisation in the the exchange.

We look at a breakdown of important Binance Statistics including what countries use Binance the most, trading volumes by top 20 countries and more.

As of 2021 it was estimated that there were 300 million crypto users in the world with about 30 million users on Binance.

Key Binance Statistics

  • Binance revenue in 2021 was $20 billion
  • An estimated 30 million people use Binance as at 2021

Countries with the Most Users on Binance

According to available statistics and data from several sources including a Binance report, Similarweb these are countries with most users on Binance (in no order);

  • Brazil
  • Nigeria
  • Turkey
  • Argentina
  • Russia
  • India
  • Vietnam
  • Philippines
  • United Kingdom
  • United States
  • Peru

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Nirsal Microfinance Bank is a national microfinance banking institution with over 115 branches across the country (as claimed on their official website). Nirsal microfinance bank is known for its loan products targeted at different segments of the society.

Nirsal (also referred to as NMFB) is a subsidiary of the Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc.  Nirsal Plc is a $500 million, non-bank financial institution owned by the Central Bank of Nigeria to redefine and provide agric-business related credit in Nigeria.

It is an initiative of the Central Bank of Nigeria, the Bankers’ committee, and the Federal Ministry of Agriculture & Rural Development.

Nirsal Microfinance Bank Key Objectives

Nirsal microfinance bank has as its objectives;

  • driving financial inclusion
  • access to cheaper and affordable funds for small holder farmers
  • easy access to credit and financial services for SMEs

Nirsal Microfinance Bank Loan Products

Nirsal MFB has several loan products it says are tailored towards meeting the above objectives. Key among the products of the Nirsal Microfinance Bank are;

Nigeria Youth Investment Fund

The Nigerian Youth Investment Fund (NYIF) was set up as an initiative of the Federal Ministry of Youth and Sports Development (FMYSD) and funded by the Central Bank of Nigeria (CBN) to invest in youth ideas to build sustainable businesses that can activate enterprise and increase job opportunities in Nigeria.

The objectives of the fund are;

  • Access to finance for youth and youth-owned enterprises, for national development
  • Generate much-needed employment opportunities to curb youth restiveness.
  • Boost the managerial capacity of the youth and develop their potential to become the future large corporate organizations.

Who is Eligible for the Nigeria Youth Investment Fund (NYIF)?

1.  Individuals/Non registered Businesses

  • Individual within the age bracket of 18 to 35 years
  • Has a valid BVN and means of ID
  • Provision of Business plan Summary or Completed Questionnaire
  • Entrepreneurship Training Certification from FMYSD Entrepreneurship Development Institutes (EDIs)

2. Registered Businesses

  • Formal business enterprises (Youth owned enterprises), duly registered with the Corporate Affairs Commission (CAC)
  • Business plan Summary or Completed Questionnaire
  • Valid Bank Verification Number (BVNs) of Directors
  • Provision of Tax Identification Number (TIN)
  • Entrepreneurship Training Certification from FMYSD EDIs

How it Works

Get trained: Applicants attend a compulsory entrepreneurship training with an approved Federal Ministry of Youth & Sports Development (FMYSD) EDIs

Apply for Loan/Submit Application: Successfully trained prospective applicants proceed to NIRSAL Microfinance Bank (NMFB) portal to apply for the loan

Get Approved: NMFB conducts loan assessment in line with Risk Assessment Criteria and programme guideline, make appropriate decision and forward recommended applications to CBN for final approval

Receive Disbursements: CBN reviews applications and gives final approval for disbursement to NMFB

The Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS)

The scheme is an initiative to support the Federal Government’s efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation.

How it works 

Get trained: Attend a compulsory training with a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).

Apply: Create an account by clicking on ‘Apply now’ as an applicant, validate your BVN and select a NIRSAL MFB certified Entrepreneurship Development Institute (EDI).

Receive Funds: Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

Get Business Support Services: The Entrepreneurship Development Institute assists you to implement business plan and provide business support services commercially.

Make Sales & Repay Loan: Run your business, keep proper records, monitor sales and expenses to maximize profit and pay back the loan.

Find out more about the agric-business/small & medium enterprises investment scheme.

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The National Identification Number (NIN) managed by the National Identification Management Commission is a unique 11 digits identification number assigned to a citizen/individual residing in the Federal Republic of Nigeria.

According to the commission it is used to tie all records about an individual in the database and used to verify his or her identity. All citizens and legal residents from birth (age zero) and above are eligible to enrol for their NINs. However only citizens and residents up to 16 years of age can be given the National Identity cards.

The government having made it mandatory for citizens and residents of the country to enrol for their NIN also rolled out directives that everyone should link their mobile phone numbers/lines to their NIN.

After several extensions of the deadline for enrolling for NIN and linking same to phone lines the Telecommunication companies started barring phone lines without linked NIN from making calls.

Why the National Identification Number is Important

From information available on the NIMC website the National Identification Number is planned to be the major identity number with which citizens and residents can be identified for any official transaction. More like the social security number available in the United States.

The linking of phone lines to NIN appears one in many steps to link your identity to your NIN.

According to the NIMC you will need your National Identification Number (NIN) for the following;

  • Travel (International passport application & acquisition)
  • Opening and operating personal bank accounts
  • Getting drivers license
  • Voters card registration and getting your permanent voters card
  • Tax payments
  • Enrolling in National Health Insurance Scheme
  • Transactions relating to your contributory pension scheme
  • and more

So apparently if the plans of the government and NIMC go according to plan your NIN becomes a ubiquitous identity necessary for many transactions/activities you will carry out as a citizen/resident of Nigeria.

Have You Registered/Enrolled for Your National Identification Number (NIN)

Before validating or checking for your NIN you have to be sure you have enrolled for and registered for your National Identity card (which process gets you your own unique NIN).

If you are yet to enrol or not sure if you have done so in the past then first thing to do is check if you Enrolled for NIN

How to Check if You are Enrolled and Have a Valid National Identification Number

If you cannot remember if you already registered for NIN, have a valid NIN or can’t find where you misplaced your NIN slip you can check for your NIN through the NIMC USSD code. See below for the code to check NIN.

The NIMC USSD Service

You can use the USSD service provided by the National Identity Management Commission (NIMC) to check for your NIN and retrieve it.

Note you have to use the phone line/number you may have used in enrolling for NIN.

To do this simply

  • dial *346# and type in 1 from the options displayed for NIN retrieval.
  • Follow the instructions on your phone screen to complete and get notified if you have a valid NIN tied to your phone line.

Note that you may incur small charge from your Telco (Phone service provider) for the use of the USSD short code.

How to Check NIN on MTN, Glo, Airtel and all major Telecom Service Providers

Whether you use MTN or an Airtel line getting or checking for your NIN is the same process. You use the general code for checking NIN which works across all networks – *346#

The service charge for using the USSD code to check your NIN is N20 as indicated on the NIMC website. However this may change at any time due to economic reasons or from your telecom service provider. You can always check to see the cost of using the USSD code.

 

 

Kuda bank is one of the fastest growing digital banks in the country (with its 100% digital banking solution provided through the Kuda bank app).

Not many people know that Kuda bank has an online loan facility for its customers. Usually known as Kuda bank overdraft, the bank says it is a short term loan advanced to customers who have operated an account for sometime and qualify for the loan.

If you have some interest in Kuda bank overdraft we hope this article breaks it down as much as possible.

Information about Kuda Bank Overdraft

On its website Kuda bank describes the Kuda Overdraft as short term loans you can take anytime as long as you use your account regularly.

However we found out that as a Kuda bank customer you may not immediately be eligible to take the overdraft until you’ve operated your bank account for several months as well as done a decent volume of transactions through it.

There is nowhere they state how much or the volume of transactions (deposits for eg) that you need to have done via the bank app to qualify for the kuda bank overdraft. We estimate that for a user to be eligible he/she must have done at least hundreds of thousands of Naira in transactions (especially deposits).

We also think it helps if you use your kuda bank to receive periodic, regular payments like salaries, interests on investments etc.

After some months of using your kuda bank regularly you can then try to apply for the kuda bank overdraft.

Key details of Kuda bank overdraft

  • Kuda bank is usually a short term loan (30 days) you can use to bridge the gap for a few weeks till you get paid your work salary or for a job done for which you’re expecting payment
  • For.a kudabank overdraft you are charged 0.3% daily interest. This amounts to 9% monthly interest which appears high compared to other bank online loans such as GTBank Quick Credit 
  • When you apply for the loan/overdraft Kuda will evaluate and show you an amount you are eligible to access.
  • You have within 3 business days to reject the loan/overdraft offered you. This does not attract any charges.

How to Apply for Kuda bank overdraft

To apply for Kuda bank overdraft you need to have been a customer of the bank for some months already, using the kuda bank app for deposits and other transactions regularly.

If you fulfill the above requirements you can

  • log into your Kuda bank app,
  • tap on BORROW
  • tap – Get Your Overdraft
  • tap Next
  • Type in the amount you intend to borrow then tap Done
  • Confirm with your transaction PIN, finger print or Face ID
  • Tap OK and the amount will reflect in your account balance for you to spend

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There are now more than a handful of loan apps in Nigeria. However as users complained, many of them provide loans at high and unsustainable interest rates. Some go as high as 5-10% per month.

If you are considering taking a loan online you definitely want to go for the ones with the lowest interest rates and favourable conditions.

GTBank Quick Credit

GTBank’s Quick Credit is one of the online loans with lowest interest rates. The Quick Credit for personal loan offers loans to individuals at 1.5% interest monthly.

Quick Credit for Small Business also offers loans at 1.5% interest per month.

Interest rate: 1.5% per month

Tenor: up to 12 months

Stanbic IBTC

Stanbic IBTC’s EZ Cash loan for small businesses offers up to N5 million without collateral.

Interest rates: 2.5% per month

Tenor: 6 – 12 months

Access Bank

Access Bank payday loan amount that varies depending on your salary.

Interest Rate: 5%

Tenor: 30 days

Renmoney

Renmoney offers up to N6 million in loans. without collateral.

Interest rate: 2.4% – 9.33% monthly

Tenor: 3 – 24 months

Branch

Branch offers loans of between N1,000 – N200,000 with no collateral.

Interest rate: 1.7% – 22% monthly (depending on your risk profile)

Tenor: 4 to 40 weeks

Carbon

Carbon offers loans of up to N20 million to both individuals and businesses.

Interest rates: 1% – 21% per month (depending on amount, tenor and risk analysis)

Tenor: 1 – 12 months

PalmCredit

Palmcredit, owned by Newedge Finance Ltd, offers loans of up to N100,000 to individuals.

Interest rates: minimum 4% monthly

Tenor: 14 – 180 days

Aella Credit

Aella Credit offers short term loans of up to N1 million.

Interest rates: 6 – 20%

Tenor: 1 – 3 months

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A lot of loan apps, lenders focus on personal loans and it seems there are not many options for where to get business loans without collateral in Nigeria.

So we went to work, to research, talk to industry experts and find out where you can get business loans.

These are some of the platforms or places you can secure business loans without collateral easily.

GTBank Quick Credit for Small Business

GTBank’s Quick Credit are not just for personal loans, they also give loans to a specific sector of small businesses.

According to their website Quick Credit for Small Business is a loan aimed at providing working capital of SMEs in the Education (creche, primary and secondary schools), and Healthcare (hospitals, pharmacies and diagnostic centers) sector.

Key Information about the GTBank Quick Credit for Small Business

  • Interest rate of 1.5% per month
  • Customers can access up to 50% of annual turnover
  • Loan tenure of 6 months (up to 12 months for schools)
  • You must run a corporate or business account for up to 12 months before applying
  • Funds are disbursed instantly after approval
  • You can apply via GAPS Lite/GAPs platform
  • Repayment is structured in two ways: monthly interest payments and quarterly (3 month intervals) principal repayment
  • A customer can apply for up to N10 million

You can check out the official page for Quick Credit for Small Business here – https://www.gtbank.com/business-banking/sme-banking/loans-advances/quickcredit-for-small-business

GTBank Fashion Industry Credit

This is another business loan product by GTBank and this time it specifically targets fashion businesses. It is a single digit interest rate loan at 9% to provide entrepreneurs in the fashion industry with all the financing they need to grow their business.

More information on the Fashion Industry Credit

  • You can access up to N5 million max. The minimum loan amount is N250,000
  • Single digit interest rate of 9% per annum (0.75% per month)
  • No extra fees
  • Flexible repayment period spread over 360 days
  • Customers can access up to 50% of their annual turnover (so if for eg your business does N5m in sales a year you can access up to N2.5m in loans)
  • You can apply for Fashion Credit via the GAPs lite app or reaching out to your account office

Additionally GTBank also provides loans to businesses in the fashion retail industry.

Fairmoney Microfinance Bank

Fairmoney is a microfinance bank licensed by the CBN to provide financial and lending services.

Fairmoney promises up to N5m in loans to small businesses without collateral. It also says it processes loan applications within 24 hours. Their loans are available for up to 12 months tenure.

The process for applying to Fairmoney business loan is as follows;

  • Fill out the online application
  • Upload required documents
  • Your loan is processed and disbursed within 48 hours

You can find more information about Fairmoney SME loan here – https://www.fairmoney-smeloans.ng/

Standard Chartered Smart Business Loan

Standard Chartered Bank says its smart business loans can provide up to N20 million capital for businesses without collateral.

They also say the smart business loans have flexible repayment plans for up to 2 years. You have to be a customer of the bank to apply for the loan.

More information about the Smart Business Loan

  • You can request topup on the existing loan after 12 months if you have been making repayment on schedule
  • You can apply for the Smart Business Loan online via the bank’s app or website

To find more information about the Standard Chartered Smart Business Loan go here –  https://www.sc.com/ng/business/working-capital/smart-business-loan/

Renmoney

Renmoney says it offers loans to small businesses as well as personal loans.

You have to be between 22-59 years old, maintaining a current account and have a business generating income to be eligible to apply for their business loan.

Lendigo

On its website Lendigo says it offers loans to several types of SMEs; distributors, ecommerce merchants, POS agents among other small businesses.

The maximum loan amount is N10 million.

Loans can be applied for through the Lendigo mobile app.

You can find more information about Lendigo’s small business loans on their website – https://lendigo.ng/

Advance Nigeria Business Loans

Advans La Fayette is a microfinance bank that says it provides small businesses with loans at affordable interest rates with no prior savings required.

They have different loans for small businesses up to N5 million repayable within 6 – 24 months.

From their website it is not clear whether one can apply for the loans online or through the bank’s physical office.

You can check out their website for more information – https://www.advansnigeria.com/business/loans/

Stanbic IBTC Ezcash

Stanbic IBTC Bank has what it calls the EZ cash for SMEs.

Up to N5m in loans to meet your business needs at an interest rate of 2.5% monthly and a payback period of up to 12 months.

The bank says it’s an instant loan that can be accessed by customers of the bank.  Customers can apply via a USSD code or through the bank’s mobile app or website.

For more information visit – https://www.stanbicibtcbank.com/nigeriabank/business/products-and-services/finance-your-business/business-loans/see-all-loans/EZ-Cash-for-SMEs

Carbon

Carbon is a financial services firm that offers a suite of digital banking services to small businesses that includes online payments, funds transfer and business loans.

It says it can offer up to N20 million loan to a business client at affordable interest rates without collateral.

To qualify for a Carbon Small business loan it says on their website you have to

  • have been in business for at least 6 months
  • have up to N1 million in monthly revenue
  • in need of expanding your business

You can access more information about Carbon loans for small business here – https://sme.getcarbon.co/

Lidya

Lidya offers financial services to SMEs enabling them track payments, manage invoices etc.

Lidya offers small businesses loans to finance their working capital without collateral. It is unclear how much they can offer to SMEs and the interest rates (from their website) so you may need to do more diligence on that one.

Lidya analyses your bank statements to determine if you are eligible for a loan and how much you can get.

See the Lidya website for more information – https://www.lidya.info/ng/en/home/

Aella Credit

Aella offers credit/loans for both personal and business. You will have to download their mobile app on the playstore or apple store.

According to their website Aella business loans require no paperwork, rollover fees.

Check out their web page for more information – https://www.aellaapp.com/aella-credit

Rosabon Finance Business Support Loan

Rosabon Financial Services is a member of the Concept Group licensed by the CBN to offer loans, leases and investments to individuals and businesses.

Rosabon has what it calls the Sole Proprietor Busines Support Loan (SPBSL). Under the business support loan applicants (registered and unregistered businesses) can get up to N3 million loan.

Application is made online. Flexible repayment of up to 6 months, minimal documentation required. Other requirements include home/office visitation, copy of government issued ID card, utility bill, etc.

Check for more details on their website – https://www.rosabon-finance.com/Loans/sole-proprietor-business-support-loan.html

 

Non-fungible tokens (NFTs) are unique collectible digital assets (crypto assets) that represents real-world objects like art, music, in-game items and videos.

Since launch of bitcoin in 2009, the cryptocurrency and blockchain technology made it easier to transfer value on the internet without a third party. NFTs extends this functionality to enable creating, buying and selling of unique digital assets and real-world assets to blockchain.

Whereas crypto assets like bitcoin and ether are fungible, or exchangeable, NFTs, thanks to blockchain technology, enable digital assets that are verifiably unique and unexchangeable. In other words, NFTs provide the much-needed non-fungibility for bringing unique digital assets and real-world assets to the blockchain.

An NFT can represent digital art, an in-game asset, music or any other item that requires a system for authenticating its uniqueness, rareness and ownership status in the digital realm.
The ownership of an NFT can be transferred in exchange for digital currencies without involving third parties. However, for this to happen, interested buyers and sellers must perform this task on a platform specially designed to allow the listing, buying and selling of NFTs. These platforms are called NFT marketplaces.

What are things / Asssets NFT can Represent?

NFTs can be used to represent virtually any type of real or intangible item, including:

  • Artwork
  • Virtual items within video games such as skins, virtual currency, weapons and avatars
  • Music
  • Collectibles (e.g. digital trading cards)
  • Tokenized real-world assets, from real estate and cars to racehorses and designer sneakers
  • Virtual land
  • Video footage of iconic sporting moments

How to make an NFT

Making your own NFT, whether it be a GIF or an image, is a relatively straightforward process and doesn’t require extensive knowledge of the crypto industry. NFT artwork can also be used to create collectibles like sets of digital trading cards.

  • Flow by Dapper Labs
  • Tron
  • EOS
  • Polkadot
  • Tezos
  • Cosmos
  • WAX

Each blockchain has its own separate NFT token standard, compatible wallet services and marketplaces. For instance, if you make NFTs on top of the Binance Smart Chain, you will only be able to sell them on platforms that support Binance Smart Chain assets. This means you wouldn’t be able to sell them on something like VIV3 – a Flow blockchain-based marketplace – or OpenSea which is an Ethereum-based NFT marketplace.

Since Ethereum has the largest NFT ecosystem, here’s what you’ll need to make your own NFT artwork, music or video on the Ethereum blockchain:

  • An Ethereum wallet that supports ERC-721 (the Ethereum-based NFT token standard), such as MetaMask, Trust Wallet or Coinbase Wallet.
  • Enough ether (ETH) to pay the gas fees. If you are using a Coinbase wallet you can buy ether from the platform with U.S. dollars, British pound sterling and other fiat currencies. Otherwise, you will need to purchase ether from a cryptocurrency exchange.

Once you have these, there are a number of NFT-centric platforms that allow you to connect your wallet and upload your chosen image or file that you want to turn into an NFT.

The main Ethereum NFT marketplaces include:

  • OpenSea.io
  • Rarible.com
  • Mintable.app
  • Binance.com/en/nft

Makersplace.com also allows you to make your own NFTs but you have to register to become a listed artist on the platform beforehand.

OpenSea, Rarible and Mintable all have a “create” button in the top right corner.

How to make an NFT on OpenSea

Here’s how the process works on OpenSea, currently the largest Ethereum-based NFT marketplace.

Clicking the “create” button (blue) will take you to a screen that asks you to connect your Ethereum-based wallet. Once you’ve entered your wallet password when requested it will automatically connect your wallet with the marketplace. You may have to digitally sign a message in your Ethereum wallet to prove you own the wallet address, but it’s just a case of clicking through to proceed.

Digitally signing a message does not incur a fee, it’s just to show that you have ownership over the wallet.

The next step on OpenSea is to hover over “create” in the top right corner and select “my collections.” From there, click the blue “create” button as shown below.

Creating an NFT collection on OpenSea

A window will appear that allows you to upload your artwork, add a name and include a description.

This part is essentially just you creating a folder for your newly created NFTs to go in.

OpenSea NFT collection creation window

Once you’ve assigned an image for your collection, it will appear as shown below (blue). You’ll then need to add a banner image to the page by clicking on the pencil icon in the top right corner (red).

Add a banner image to NFT collection on OpenSea

Your page should end up looking something like the image below.

Now, you’re ready to make your first NFT. Click on the “Add New Item” button (blue) and sign another message using your wallet.

Creating NFT collection on OpenSea

You’ll arrive at a new window where you can upload your NFT image, audio, GIF or 3D model.

On OpenSea and many other marketplaces, you also have the option to include special traits and attributes to increase the scarcity and uniqueness of your NFT. Creators even have the opportunity to include unlockable content that can only be viewed by the purchaser. This can be anything from passwords to access certain services to discount codes and contact information.

NFT traits on the Ethereum-based OpenSea platform.

Once you’re finished, click “create” at the bottom and sign another message in your wallet to confirm the creation of the NFT. The artwork should then appear in your collection.

How much does it cost to make NFTs?

While it costs nothing to make NFTs on OpenSea, some platforms charge a fee. With Ethereum-based platforms, this fee is known as “gas.” Ethereum gas is simply an amount of ether required to perform a certain function on the blockchain – in this instance, it would be adding a new NFT to the marketplace. The cost of gas varies depending on network congestion. The higher the number of people transacting value over the network at a given time, the higher the price of gas fees and vice versa.

Top tip: Ethereum gas fees are significantly cheaper on average during the weekend when fewer people are transacting value over the network. This can help keep costs down if you’re listing multiple NFTs for sale.

How to buy NFTs

Before you rush to buy NFTs, there are four things you need to consider first:

  • What marketplace do you intend to buy the NFTs from?
  • What wallet do you need to download in order to connect with the platform and purchase NFTs?
  • Which cryptocurrency do you need to fund the wallet with in order to complete the sale?
  • Are the NFTs you want to buy being sold at a specific time, i.e. via a pack or art drop?

As you can probably guess by now, certain NFTs are only available on specific platforms. For example, if you want to purchase NBA Top Shot packs you will need to open an account with NBA Top Shot, create a Dapper wallet and fund it with either the USDC stablecoin or supported fiat currency options. You will also have to wait for one of the card pack drops to be announced and try your luck in trying to buy them before they sell out.

Pack and art drops are becoming increasingly common as a method for selling scarce NFTs to an audience of hungry buyers. These drops normally require users to sign up and fund their accounts beforehand so that they don’t miss out on the opportunity to purchase NFTs when they drop. Pack and art drops can be over in seconds, so you need to have everything ready ahead of time.

How to sell NFTs

To sell your NFTs on a marketplace, you’ll need to locate them in your collection, click on them and find the “sell” button. Clicking this will take you to a pricing page where you can define the conditions of the sale including whether to run an auction or sell at a fixed price.

Ether and other ERC-20 tokens are the most common cryptocurrencies you can sell your NFTs for, however, some platforms only support the native token of the blockchain they were built upon. VIV3, for example, is a Flow blockchain marketplace and only accepts FLOW tokens.

By clicking on the “edit” button next to the collection image on OpenSea, signing the message using your wallet and scrolling down, you have the option to program in royalties and select which ERC-20 token you’d like to receive for selling the NFT. Royalties allow NFT creators to earn a commission every time the asset is sold to a new person. This has the potential to create lifelong passive income streams for artists and other content creators automatically thanks to smart contracts.

Selling NFTs on OpenSea

Listing NFTs on a marketplace sometimes requires a fee in order to complete the process. While it’s not the case with every platform, it’s something to be mindful of when creating NFTs.

Where to buy NFTs

For crypto traders who are primarily interested in buying NFTs, here is a list of the most popular NFT marketplaces in 2021:

Would you like to study in a country where you don’t have to pay a dime for your tuition? So many people want to study abroad for different reasons probably a dream to study abroad or a search for quality education and good life. Whatever the reason, students are usually faced with one major challenge and question “how do you do you fund your studies abroad”?

The standard of living and the caliber of schools and universities in so many countries has made it impossible for students without deep-pockets or proper sponsors to afford. Without a scholarship or grant, students often find it difficult to pay or continue paying for their education.

There are so many ways international students can sponsor their studies abroad especially in Canada, you can find out more about that here. One of the easiest ways to study abroad without spending much from your pocket is to find countries where education is free for everyone. You may not have heard, but there are so many countries that offer free education to international students from around the world.

The countries listed below are the top five in the world where students can study completely free and you don’t have to pay a dime. However, you will need to take care of other requirements such as paying for your accommodation, transportation, and feeding. Some countries will also require you to provide proof of funds in the form of a bank statement to ensure you have the proper finance to take care of other expenses except your tuition which is free.

Below are the top three countries where you can study for free. The problem you may encounter is getting a visa and traveling abroad when you don’t have the correct document or meet the eligibility requirement to move to the country. You can check out this free assessment calculator that tells you if you meet the necessary requirements to study abroad.

 

Top Three Countries in the World to Study For Free

Here are the top three countries you can study abroad free:

Germany

Germany is one of the top countries in Europe and in the world and it is home to some of the best and top-ranked universities. Studying in public schools or universities in Germany is completely free for all international and local students. You are only required to pay a small fee of about €100 (£75) to €250 (£185) per semester and for your accommodation, your budget should be between €800 (£595) to €1000 (£695) per year. This is a very small fee to pay when compared to other top countries in Europe and in the world.

Norway

Norway is one of the most beautiful countries in the world with lots of beautiful and quality universities offering international students tuition-free course programs for undergraduate, postgraduate, and doctoral levels. The Norwegian government uses money collected from taxes in the country to finance these studies. The downside to studying in Norway is that so many universities there offer their courses in the Norwegian language. Although there are still so many universities that offer courses in the English language. A better solution is to learn the Norway language within the first six months in the country.

Sweden

Sweden also has some of the best universities in the world with beautiful and standard learning environments for all students. The only expensive thing about Sweden just like Norway is the cost of living. Education is completely free, however, the cost for feeding, accommodation, and general living expenses is quite high.

How Do You Afford Other Expenses Since Tuition is Free

The countries mentioned above are completely tuition-free, but you still need to feed yourself and pay for your accommodation which can also be expensive. The best way to raise funds and meet the proof of funds requirement is to get a sponsor. A sponsor does not necessarily have to be a direct relative or parent, you can find sponsors in your community, religious groups, etc. To find out more on how to get sponsors to study abroad, read this article for the complete sponsorship guide.

Another way to afford your accommodation and other expenses while studying abroad is to find a job. So many of the countries listed here permit students to work while studying. This way, you can raise money for yourself and also be financially independent and free.

British Columbia is Canada’s third most populous province after Ontario and Quebec, with a large portion of its residents living in the Lower Mainland, which includes the coastal city of Vancouver and surrounding municipalities. The province attracts newcomers from all over the world with its cultural diversity, career opportunities, and enjoyable temperate climate.

Canada provides many opportunities for newcomers to work, raise a family, and be part of a community. Depending on your work experience and education level, there are several ways you may be able to immigrate to Canada. One of those is through the Provincial Nominee Program (PNP). Each province and territory in Canada is unique; similarly, each PNP program has its own eligibility criteria and application process.

With its relaxed west coast lifestyle, and breathtaking scenery, British Columbia (B.C.) is a popular choice for newcomers moving to Canada. Vancouver is the biggest city in B.C. and is an economic centre for construction, technology, digital entertainment, and the green economy. The capital city of Victoria, on Vancouver Island, is a smaller, more laid-back city. One of the appealing features of B.C. is that the population is around 28% per cent newcomers, mainly from China, India, the Philippines, Iran, and South Korea.

Newcomers wishing to settle in B.C. can apply through the British Columbia Provincial Nominee Program (BC PNP).

How to apply for the British Columbia Provincial Nominee Program (BC PNP)

British Columbia’s growing economy requires skilled workers in high-demand occupations and the BC Provincial Nominee Program (BC PNP) is an avenue for foreign workers with those skills or experienced entrepreneurs to move to the province as a permanent resident.

There are three pathways newcomers can take to apply for the BC PNP:

  1. Skills Immigration (SI): for skilled and semi-skilled workers in high-demand occupations. Applicants to the Entry Level and Semi-Skilled categories require previous work experience in B.C.
  2. Express Entry BC (EEBC): a fast-track for eligible skilled workers to immigrate to the province. This stream uses a points-based invitation system and connects to the federal Express Entry system.
  3. Entrepreneur Immigration (EI): for experienced entrepreneurs looking to manage a business in B.C. This is a point-based invitation system.

How to qualify for a British Columbia PR nomination through BC PNP

Depending on your qualifications, education, and work experience, there are multiple streams under BC PNP that individuals can apply for.

Requirements for categories under the Skills Immigration (SI) stream

Requirements for Skilled Worker

  • Accepted a full-time, permanent job offer from a B.C. employer in a National Occupation Classification (NOC) Type O or Skill Level A or B occupation.
  • Be qualified to perform the job
  • At least two years of relevant work experience
  • For NOC skill level B, meet the minimum language requirements
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Employer must support your application
  • Have, or be eligible for, legal immigration status in Canada

Requirements for Healthcare Professional

  • A full-time, permanent job or support from a public health authority as physician, specialist, registered nurse, registered psychiatric nurse, nurse practitioner, or allied health professional.
  • Midwives require confirmation from established practice group
  • Be qualified to work in your occupation in B.C.
  • At least two years of directly relevant work experience
  • For NOC skill level B, meet the minimum language requirements
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Employer must support your application
  • Have, or be eligible for, legal immigration status in Canada

Requirements for Entry Level and Semi-Skilled

  • Accepted a full-time, permanent job offer from a B.C. employer in an occupation in tourism/hospitality, long-haul trucking, or food-processing industry.
  • For Northeast Development Region of B.C., apply in any NOC occupation (skill level C or D)
  • Have been working full-time for your employer for minimum of nine consecutive months
  • Meet minimum language and education requirements
  • Be qualified to do the job
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Have legal immigration status in Canada
  • Employer must be willing to support your application

Requirements for International Graduate

  • Accepted a full-time, permanent job offer from a B.C. employer in a National Occupation Classification (NOC) Type O or Skill Level A or B occupation.
  • Qualified to work in your occupation in B.C.
  • Have completed degree, diploma, or certificate from eligible post-secondary institution in Canada in past 3 years
  • For NOC skill level B, meet the language requirements
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Employer must support your application
  • Have, or be eligible for, legal immigration status in Canada

Requirements for International Post-Graduate

  • Have completed a valid masters or doctorate degree in natural, applied, or health sciences at an eligible post-secondary institution in B.C. in the last three years
  • Have, or be eligible for, legal immigration status in Canada
  • Demonstrate intent and ability to live in B.C.

Requirements for categories under Express Entry BC (EEBC) stream

Requirements for EEBC Skilled Worker

  • Must have valid Express Entry profile number and job seeker validation code from the IRCC Express Entry system.
  • Accepted a full-time, permanent job offer from a B.C. employer in a National Occupation Classification (NOC) Type O or Skill Level A or B occupation.
  • At least two years relevant work experience
  • Meet the minimum language requirements
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Employer must support your application
  • Have, or be eligible for, legal immigration status in Canada

Requirements for EEBC Healthcare Professional

  • Must have valid Express Entry profile number and job seeker validation code from the IRCC Express Entry system.
  • A full-time, permanent job or support from a public health authority as physician, specialist, registered nurse, registered psychiatric nurse, nurse practitioner, or allied health professional.
  • Midwives require confirmation from established practice group
  • Be qualified to work in your occupation in B.C.
  • At least two years relevant work experience
  • Meet the minimum language requirements
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Employer must support your application
  • Have, or be eligible for, legal immigration status in Canada

Requirements for EEBC International Graduate

  • Must have valid Express Entry profile number and job seeker validation code from the IRCC Express Entry system.
  • Accepted a full-time, permanent job offer from a B.C. employer in a National Occupation Classification (NOC) Type O or Skill Level A or B occupation.
  • Qualified to work in your occupation in B.C.
  • Have completed degree, diploma, or certificate from eligible post-secondary institution in Canada in past 3 years
  • Meet the minimum language requirements
  • Proof of funds to support you and dependents
  • Salary must be in line with B.C. wage rates for occupation.
  • Employer must support your application
  • Have, or be eligible for, legal immigration status in Canada

Requirements for EEBC International Post-Graduate

  • Must have valid Express Entry profile number and job seeker validation code from the IRCC Express Entry system
  • Have completed a valid masters or doctorate degree in natural, applied, or health sciences at an eligible post-secondary institution in B.C. in the last three years
  • Have, or be eligible for, legal immigration status in Canada
  • Demonstrate intent and ability to live in B.C.

Requirements for categories under the Entrepreneur Immigration (EI) stream

EI Regional Pilot

  • Demonstrate at least 3+ years experience as business owner or 4+ years as senior manager or combination of both within the last 5 years
  • Net worth of at least $300,000 CAD
  • Have post-secondary education or experience as active business owner-manager with full ownership for at least 3 of the last 5 years
  • Submit a business proposal to establish a new business in B.C. and be referred by regional communities participating in the program
  • Invest minimum of $100,000 CAD and own 51% of the business
  • Engage and visit a participating community for support before registering
  • Minimum of CLB 4 in English or French
  • Interview is required

EI Base Category Program

  • Demonstrate at least 3+ years experience as business owner or 4+ years as senior manager or combination of both within the last 10 years
  • Net worth of at least $600,000 CAD
  • Establish an eligible new business or purchase and improve an existing business in B.C.
  • Have, or be eligible for, legal immigration status in Canada
  • Invest minimum of $200,000 CAD and own at least one-third of the business
  • Create at least one new full-time job for a Canadian citizen or permanent resident
  • Minimum of CLB 4 in English or French
  • Interview is required

Step-by-step application process for British Columbia Provincial Nominee Program

To follow are the steps involved in applying for BC PNP:

1. Confirm you qualify

Once you have identified which stream you’d like to apply under, it’s important to make sure you meet all the mandatory requirements for that stream before completing your application.

2. For Express Entry streams only, applicants must submit a profile online through Immigration, Refugees and Citizenship Canada (IRCC) (https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/express-entry/submit-profile.html) and meet the requirements for one of the following federal programs:

  1. Federal Skilled Worker Program
  2. Federal Skilled Trades Program
  3. Canadian Experience Class

You will then receive an EE profile number and Job Seeker validation code.

3. Register with the British Columbia Provincial Nominee Program

Regardless of which category you apply for, you’ll need to register with BC PNP:

  1. Create a profile online at https://www.pnpapplication.gov.bc.ca/user/sign-in
  2. Complete all sections of the registration
  3. Submit your registration online

You will then receive a registration score based on various factors (such as work experience, education, language) and go into a selection pool for up to 12 months for your chosen category, or until you receive an invitation to apply.

4. Invitation to apply 

Skilled Worker, Entry Level and Semi-Skilled, or International Graduate categories: Eligible individuals will receive an invitation to apply under the Skills Immigration stream.

EEBC Skilled Worker and EEBC International Graduate categories:

Eligible individuals will receive an invitation to apply under the Express Entry BC steam.

All applicants will have up to 30 calendar days from the date of invitation to submit your complete application through BCPNP Online (link above). Applicants will also be required to pay a processing fee of $1,150 CAD.

Entrepreneur Immigration Regional Pilot scheme: Eligible individuals are required to provide:

  • Net worth verification report
  • Comprehensive business plan
  • Pay a non-refundable application fee of $3,500 CAD.

5. Apply for permanent residence

If your application is successful, the last step is to apply for permanent residence through IRCC. It will be up to the Government of Canada to make the final decision on your permanent residency.

What comes after BC PNP approval?

Once your BC PNP application is approved, you’ll receive a nomination to apply to the IRCC for permanent residence. You’ll need to apply for a PR visa within six months after receiving a confirmation of nomination.

While you wait for a decision on your permanent resident application, you are required to maintain the conditions of your nomination, such as a valid job offer, etc. In cases where your situation changes or if you’ve accepted another job offer with a Canadian employer, you must inform the BC PNP. In the time being, you may be eligible to apply for a work permit to start or continue working for your employer in B.C.

If you’ve applied for immigration under the Express Entry BC stream, a BC PNP approval will add 600 Comprehensive Ranking System (CRS) points to your IRCC application. This will almost guarantee an Invitation to Apply (ITA) in the next IRCC Express Entry draw, provided there are no material changes to your situation.

Does BC PNP require a job offer?

Except for the Entrepreneurship streams and the International Post-Graduate categories under the Skills Immigration and Express Entry BC streams, all other BC PNP streams require a valid job offer or existing job with an employer in B.C.

Changes to BC PNP due to COVID-19

There have been several changes to the BC PNP due to the COVID-19 pandemic. Some changes include:

  • The BC PNP Vancouver office is temporarily closed to in-person visits.
  • Inquiries should be made by email to [email protected]
  • Staff will continue to respond to email and telephone inquiries within five business days.
  • Applicants to the Skills Immigration program whose employment has been affected by COVID-19 can request to withdraw their application. A refund will be issued if the application assessment has not begun.
  • Changes to employment due to COVID-19 (such as lay-off, a new job offer, reduced hours or reduced salary) will be taken into consideration by the BC PNP when assessing your application.
  • If you cannot provide documents from third-parties due to COVID-19, you will need to provide a written explanation and evidence that you have requested the documentation.
  • Applicants to the EI Regional Pilot stream must still complete a mandatory pre-visit and comply with travel restrictions imposed by federal or local governments.
  • In-person interviews for the Entrepreneur Immigration stream have been postponed and will be rescheduled.

For more information on program updates because of COVID-19, visit the BC PNP website at https://www.welcomebc.ca/Immigrate-to-B-C/B-C-Provincial-Nominee-Program/COVID-19-Updates

Where to get more information on BC PNP

For more information on the British Columbia Provincial Nominee Program (BC PNP):

  • Website: https://www.welcomebc.ca/Immigrate-to-B-C/B-C-Provincial-Nominee-Program
  • Phone: 604-775-2227
  • Fax: 604-660-4092
  • Write: BC Provincial Nominee Program Office: 450 – 605 Robson Street. Vancouver, BC, V6B 5J3
  • For Skills Immigration and Express Entry BC, email: [email protected]
  • For Entrepreneur Immigration, email: [email protected]
  • For BC PNP Tech, employers in B.C.’s technology sector can email: [email protected]

The BC PNP process may seem daunting, as there are many options and steps involved. However, if you follow the instructions provided by the provincial Government and consult with authorized immigration representatives, you’ll be able to realize your dream of settling in British Columbia.

If you are planning to move to British Columbia in Canada, knowing the jobs in-demand can help you. The government of British Columbia periodically invites newcomers with the skills and experience to meet the province’s growing labour requirements to work and settle in B.C. as Permanent Residents (PR) through the British Columbia Provincial Nominee Program (BC PNP).

What are the top industries in British Columbia?

  • Services industry: The services sector is the largest contributor to the province’s GDP and the biggest employer in British Columbia. Some key service industries include real estate, construction, banking and financial services, health care, entertainment, retail, education, and professional, scientific, and technical services.
  • Manufacturing industry: Top manufacturing industries include aerospace, clean technology, life sciences, information and communication technology, and paper.
  • Mining and natural gas industry: B.C. has more than 700 mining and mineral companies, and employs over 25,000 people in mining and natural gas extraction and processing. The province is rich in precious metals and non-metallic minerals.
  • Agriculture, aquaculture, and food processing industry: A wide range of agricultural and seafood products support a varied food processing industry in the province.
  • Forestry: B.C. is one of the world’s largest exporters of wood products and the industry employs over 55,000 people.

Which cities have the most job opportunities in BC?

  • Lower Mainland, including Vancouver, Surrey, Burnaby, and Richmond: The most populous area in all of B.C., the Lower Mainland region offers ample job opportunities in services, trade, technology, film and television, tourism, natural resources, and construction.
  • Victoria: The capital city of Victoria has large industries centred around advanced technology, tourism, education, health, retail, construction, and agriculture.
  • Abbotsford: Abbotsford is known for its large agribusiness industry. It also offers employment opportunities in technology and aerospace industries.
  • Kelowna: Kelowna has a diverse economy with opportunities in agriculture, health care, manufacturing, tourism, and service industries.

What jobs are in demand in British Columbia?

Here are some of the highest-paying in-demand jobs in British Columbia, Canada for 2022.

Construction and engineering jobs in British Columbia.

  • Construction managers (NOC 0711): To get a job as a construction manager, you may require a management degree and can expect to earn a median income of $41 CAD per hour.
  • Civil, electrical, electronic, and mechanical engineers (NOC 2131, 2133, 2132): These in-demand jobs in B.C. pay between $36 CAD and $43 CAD per hour. However, you’ll need an engineering degree and a provincial licence to work as an engineer.

Technology jobs in British Columbia.

  • Information systems analysts and consultants (NOC 2171): IT analysts and consultants earn a median income of $36 CAD per hour.
  • Computer programmers and interactive media developers (NOC 2174): As a programmer or developer, you can expect to make around $43 CAD per hour.
  • Computer network technicians (NOC 2281): Technicians make a median income of $28.85 CAD per hour in B.C.
  • Software engineers and designers (NOC 2173): Software engineering jobs in B.C. are highly paid, with a median hourly pay of $52 CAD. You’ll need an engineering degree to qualify.

Business and administration jobs in British Columbia.

  • Administrative officers and assistants (NOC 1221 and 1241): These roles typically pay between $23 CAD and $26 CAD per hour.
  • Financial auditors and accountants (NOC 1111): For finance and accounting roles, you’ll need a graduate degree or diploma in relevant courses. Auditors earn an average salary of $28 CAD per hour in B.C.
  • Accounting technicians and bookkeepers (NOC 1311): Bookkeepers are paid a median hourly wage of $24 CAD.

Health care jobs in British Columbia.

  • Specialist physicians, general practitioners and family physicians (NOC 3111, 3112): Most of the in-demand occupations in health care require a provincial licence. To practise as a physician in B.C., newcomers also need to take a qualifying examination. Physicians, depending on their specialization, make a median annual income between $164,237 CAD and $256,202 CAD in British Columbia.
  • Registered nurses and psychiatric nurses (NOC 3012): Registered nurses earn a median income of $41 CAD per hour and require a provincial nursing licence.
  • Licensed practical nurses (NOC 3233): This in-demand occupation pays a median wage of $29 CAD per hour.
  • Medical sonographers (NOC 3216): Sonographers make between $35 CAD and $39 CAD per hour in B.C.
  • Nurse aides, orderlies, and patient service associates (NOC 3413): Nurse aides and orderlies earn between $18 CAD and $25 CAD per hour, depending on their experience and seniority.

Education and social services jobs in British Columbia.

  • Social and community service workers (NOC 4212): These jobs pay around $21 CAD per hour in B.C.
  • Educators for universities, colleges, vocational institutes, and early childhood education (NOC 4011, 4021, and 4214): University and college professors and lecturers require a provincial teaching credential to work in BC. The median hourly pay for these occupations is $43 CAD. Early childhood educators earn a median income of $19 CAD per hour.

Sales and services jobs in British Columbia.

  • Retail and wholesale trade managers (NOC 0621): Managers in trade earn a median hourly wage of $30 CAD in BC.
  • Restaurant and food service managers (NOC 0631): The median hourly wage for these positions is $26 CAD.
  • Corporate sales managers (NOC 0601): Managerial jobs in sales make an average of $31.25 CAD per hour.

How do I move to British Columbia?

In addition to the federal Express Entry program, the province also invites skilled immigrants to come to B.C. as permanent residents through the British Columbia Provincial Nominee Program (BC PNP).

To work in B.C. temporarily, you’ll require a work permit. You’ll also have a better chance of finding a job if your skills match the province’s in-demand occupations. British Columbia is also home to some of the best universities in Canada, which welcome thousands of students each year. After graduating from your study program, you may be eligible for a Post-Graduation Work Permit and can gain valuable work experience that will make it easier for you to settle permanently in Canada.