Quote from: rachael9385 on January 24, 2025, 08:06:10 PM

Quote from: Marykeller on January 10, 2025, 08:32:28 AM

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.

I came across the story online and after watching the video post and listening to the guy I noticed that he is a beginner and that's the problem we are having right now, people are no longer interested in going for knowledge, they just buy signals and trade without knowing what it's really all about. He lost millions of naira trading what he doesn't even know. This is why it's important to study first especially if you are planning to trade on some altcoins that move in a dynamic way. Looking for quick money can make you lose a lot of money. Lastly, no one said he should invest everything he had, crypto investment should be done based on how much you are willing to lose.

The more people take crypto for quick gains na why they keep losing to it regularly. The moment they lose their money than expected, the matter go na clear their eyes. Them na begin to regret of why trading in crypto with money meant for important thing. Those who couldn't withstand the shame and shock go fit take another measure of killing themselves.

I saw a tweet of peso wey talk sae em friend kill em self because of em loss $3k for crypto. The said $3k na em last money. Peso last money em use am d trade for crypto, what's his expectations? To be rich ba.

The mindset of people thinking crypto na d quick way to make money for life d deceive many people. People should be talked through about this, so that the mentality of becoming rich through crypto go minimize.

I feel sad to read about people killing themselves because of crypto losses. Wey be sae it should have been avoided by awareness of crypto is not a get rich scheme.