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.
Since he does not understand trading, he should not have gone into it, what was he thinking, did he think that trading is like buying and selling of goods and services, this is the mistake a lot of person makes when they here of crypto trading, followed by greed they just jump into it without any knowledge.
What he should right now is to get a little space to do his buying and selling which he taught trading is, starting with fairly used clothes, or getting a smaller size of bukka, not necessarily everything must be present, but the major food that people usually eat, from there he can pick up the remaining part of his life.
There are a lot of risk involved in trading, for a novice, he can't understand until he learns it in a hard way, thank God he has something remaining to start his life with.