According to Joy, modern age women are raring to go and establish their mark in diverse fields. She says now is an excellent time to learn about crypto because there is less noise from influencers shilling coins with little to no value. Therefore, all those interested in the area can take time and investigate coins. In addition, there are many platforms today that people can rely on to learn anything about crypto. Such resources include YouTube influencers like Lark Davis, Anthony Pompliano, and even Cointelegraph, The Motley Fool, CoinMarketCap to gain more information and knowledge.
“The time is right for women to enter this wide world of Defi as it holds a tremendous future, and those who grasp it in the right way are bound to reach towering heights of success,” says the financial expert who wants to boost the influx of women into this space.
Talking about the recent stablecoin incident, she says many cryptocurrencies had to face the brunt of the same when their value dropped dramatically. For example, Tether, the 3rd biggest crypto, experienced a short-lived crisis of $1 to 95 cents as savers feared it would follow its fellow stablecoin coin called Terra and collapse. The TerraUSD rippled through the crypto markets, sending Bitcoin to 16-month lows. This incident had wiped out $60b in market value.
However, the sell-off brings the combined market value of all crypto to $1.2 trillion, which is less than half of what it was in November last year, based on the data from CoinMarketCap. Bitcoin, the largest crypto by market cap, hit a low of $25,401.05 on 28th December 2020, and last it was down to 0.9% at $28,751. She highlights that crypto has lost more than a quarter of its value in the last eight sessions and is now down by 37%. The current drop also had a disruptive effect on the number of crypto influencers and investors. But, embracing the volatility of the markets is the real challenge, and those who take this up also increase their chance to get ahead as crypto investors and influencers, she says.
Joy Mbanugo also highlights the everyday usage of crypto globally and how digital currencies constantly rise every year. According to research, e-commerce and retail will be the main sectors accepting cryptocurrency as a payment instrument. Individuals in daily life can now use crypto for different purposes like buying things retail online. Many brands have started accepting cryptocurrency payments, especially those selling premium goods and services like real estate, yachts, jewelry, etc. Crypto can be used for cross-border payments, gaming, and much more. This pattern of retail users is quite evident as crypto also helps reduce costs when paying for goods in everyday life. Joy, as a fashionista, notes that you can now buy a Birkin on some websites with crypto.
Joy Mbanugo has been around the financial world for almost two decades holding experience in tax, audit, financial services, treasury, investments, and business operations. Furthermore, having worked with some of the biggest companies like Ernst and Young and Blackrock, she has helped many startups gain momentum through her expertise.
With encouragement and exposure from her then-boyfriend, now husband, she recalls how she started her journey in 2017 as a crypto investor, steadily learning about its workings with each passing day, mastering it to its core. Simultaneously, stepping in as an angel investor opened up a new world in front of her, which looked promising enough to hold the reins of the financial world. As an advisor, Joy has mentored many startups in finance, accounting, and funding. Having spent years learning about the nitty-gritty of the Defi world, today, she comes across as a professional who has her hands behind many exciting ventures which have the potential to rule their respective areas in the future. She also holds a position at the Cloud Partnership Finance team of Google, looking after partnerships and cross-functional deals.
Joy is also the Chief Financial Officer at Paladin.org, a non-profit that works around structuring startups in their nascent stages. Vast opportunities abound in the financial sector, of which cryptocurrencies form a significant part. The time is right to strike gold by stepping into this sphere as crypto investors.
To know more, visit www.joymbanugo.com
Follow Joy Mbanugo official Instagram: @harperjl
Email: joy@joymbanugo.com
Written in partnership with AscendÂ
