When them tell people, more especially newbies to avoid trading, them think sae na lie.
There comes a man wey lose a sum of 2 million naira wey em father give am to start up business, em use am on trading on crypto for quick gains instead.
Now the money don remain $197, em d seek for advice. But at first, he made his first gain of $200 on top the 2 million naira, em think sae na to the double the money d go, not knowing the big deal wey go hammer am d come.
Now, em don d lament about his experience on crypto trading, and seeking for advice on what to do with the remaining $197.
Link to info:
https://www.gistlover.com/man-laments-as-he-loses-n2-million-his-father-gave-him-to-start-a-business-to-cryptocurrency/?fbclid=IwY2xjawHtt5pleHRuA2FlbQIxMQABHXuxNuECxPs1dUacTgCmFezuV2l3LX6QLaTwpfHUMepQDBB4NAWFsbwnfw_aem_PnHDarKKLsE7C66pnJM8OA#m5qgau7akeqrsolmpt
$197 should be around 315k for naira under 1600 per dollar. Starting a POS business or to d sell food stuffs no be bad idea. Investing in Bitcoin or any other top altcoin to hodl no go be the best idea as per now cos em still need time to hodl am for like months before em go think of selling towards the bull run. For the time being, em need something doing to fall back at, because the money wey em father give am na to start a business, instead he decides to trade than investing about half of the money given to him to invest in Bitcoin and top altcoin, use the remaining half money(1 million) to start a business. That's even better that way than desiring for quick money for crypto via trading.
D way some people Dey carry crypto self Dey funny me, dem believe say if dem start trading, or if dem invest in bitcoin or any other altcoins, dem go multiply there money instantly, but Dey no sabi say things no really Dey work like that, some of them believe say trading na just to buy and sell coin, but Dey no sabi say other things Dey attached to it, until dem start losing money, before dem go know say Dey never sabi anything about about trading.
You wey just Dey start trading, how you go take out 2 million naira for trading, d talk no really make sense now, people Dey always talk am say make we trade or invest with any money wey we know say if we lose, e no go really affect us. Where him fuck up be say, as him really wan trade, Wetin him suppose commot from the 2 million naira no suppose pass 500k, make him Dey use that one run trading, then 1.5million wey remain, make him put am for physical business, at least, now wey him money go for trading, him go know say physical business Dey for am.
$197 dollar Dey kind of small to start a business for dis country wey we Dey ooo, if you wan start better business, the $197 no go do. D POS business wey u talk no bad, but people don too much for POS now, and e Dey difficult to even get better location, but if him get luck, him go Dey make money from POS wey you talk.
If you enter market now, then you go know say $197 no fit start foodstuff business, hope you know say him go collect shop, if him don pay for shop, then nothing remain again be that now, if him carry d money wey remain enter market, Wetin him go carry come back fit no pass one carton, so foodstuffs no even Dey game self.