Post
Topic
Board Nigeria (Naija)
Merits 2 from 1 user
Re: The ugly side of trading in crypto
by
Uhwuchukwu53
on 09/06/2025, 06:14:43 UTC
⭐ Merited by CryptopreneurBrainboss (2)
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.

Op it's pathetic for such trader who dive into trading without core knowledge, what many suffer today is a result of mot knowing the consequences and result of what they are involving into, this your post remind me on my stand that there is no difference between trading and gambling because if you get addicted as a result of wining , you losses your capital, even in gambling when you think you can win more or do better than the casino you end of crying for loosing all your money, there is one thing that is paramount in this which I called luck weather gambling or trading luck is something that make some claim to be professional because when the pendulum will sway on your part you will think it's by your experience but when it goes wrong that's when you realize that trading is not far from gambling as they are twin brothers.