The concept of Bitcoin APR or APY is a bad business, even if the rate is 1% isn't worth it. There are three down side to this which are privacy, security and centralization and that's kills what Bitcoin stand for and the usefulness in the first place.

Privacy wise, sending your Bitcoin to any platform whether it's a protocol or centralized exchanges has fulfilled in breaking your privacy because they already have your Bitcoin on their reserve/cold wallet/hot wallet and that means any Bitcoin you receive later in the future will be coming from their reserve. The blockchain watchers will have your utxo as part of coin from the platform and that will be on their watch forever unless you anonymize it to some degree using either coinjoin or any mixers to have a coin that is index by any chain surveillance.

The security is concept is the wost of all because you are depending on another platform, you have to trust the way they hold their coins and if something happen to their protocol, your Bitcoin is gone forever unless there was an agreement to refund back which most of the time are not the case, they move on like nothing happen because it's always written on their terms and conditions which many people don't read to understand what they are putting their Bitcoin into in the first place.

The centralization of Bitcoin has encompasses everything about what Bitcoin detest in the beginning, you don't control anything and you are powerless, you just do as you are told to do, you have to listen to the things you are told to do like KYC and all other things else you might not get your lock Bitcoin you gave them willingly.

Coming down to the peanut APR and APY they give to people, it's not worth giving anyone your Bitcoin, FTX did the same thing but it turned out to be the worst. They allegedly gave out Bitcoin with higher interest to people but in the exchange, it wasn't the case. They were using customers funds to play with market using Alameda research to provide liquidity for trades using high leverage, manipulating the market to get more and more Bitcoin. The model was working until the UST deppeged at some points and it turn out they had nothing left in their reserve. That upset the market for months before Bitcoin got back on its feet again.

There are history left for people to learn but they don't want to learn, they prefer quick gains when in reality you can buy Bitcoin, hold on your custodial wallet, in few years you have what it take to be a holder. Interestingly, it doesn't stop there, there is always opportunity to do DCA but most often people want things they can get quickly until they bite the dust.

You should also learn to keep quiet sometime about your progress in life, it's not everything you do you must tell people that you want to do or you are trying to achieve. When people get to know your plans, they may feel jealous and may do something that will stop you from reaching success. Some friends have killed eachother because they refused to keep somethings to their self, been a private person save you from a lot of things.

Trust wallet isn't the only custodial wallet with muti chain feature, there are many of them but Trust wallet is closed source when I checked and because of that, you don't really know the structure and how it's been designed as a client or to detect if there is a bug.

The OP is not saying we should used centralized exchanges but recommending one if at all the receiver would want to later send it to an exchange to convert to fiat. Sending Bitcoin from wallet to wallet will cost more since mempool is unstable, sending usdt will save the sender some transactions fees and the receiver doesn't have to bother to send to centralized exchange especially if it's not intra exchange.

However, this is not the best way to go about it. Segwit provide the lowest transaction fee as possible for Bitcoin transaction, a single input and output with effective fee rate of 22 sats wouldn't cost much. It's better to use that for high privacy.

It's no longer a new thing that most centralized exchanges have bring down p2p service from there exchanges due to government pressure. The only legit p2p exchange with good price available right now is Bybit and I think even the exchange was able to disallowed manipulation because ever since all has been shutdown, the manipulation of the price has stopped, it's been a month now since people hype about dollar and Naira and it has stablize at ₦1500.

If by mistake you deposit coin into centralized exchange and they don't have p2p, you can still withdraw your coins to the one that has p2p, Bybit for example. You can convert your coin to usdt and select the lowest chain for smallest transaction fee, Binance has BSC that will charge $0.3 for transaction fee, Kucoin has zero fee up to 4 transactions if you use TON blockchain and TRX is another option to send your coins with 2 TRX max as transaction fee which is not upto $0.2 but conversion might take another charges that's why bsc-usdt is the best option.

In most of the exchanges, a transaction must have 3-6 comfirmation before your transaction can be consider deposit. They don't release Bitcoin you deposit until that comfirmation is reach before they allow you to do anything with that Bitcoin, you may be allow to trade it with one comfirmation but you can't withdraw it unless that comfirmation is complete. Why?

Second question, is a transaction with 1 confirmation reversible? What are the chances of 1 confirmation Bitcoin reversible?

I don't know for develop countries but the system of CBDC looks more realistic to urban areas than rural areas where they will still have to depend on credit and debit card system. The banking system doesn't depend on internet protocol of the public but it's own local network for efficiency, this is why credit and debit card work in many places where there seems not to be stable network for people to use.

It will take a while even in the cities where network are stable because the credit and debit card system will take time before they transition into that system. The commercial banks wouldn't be happy about such developments because the transaction fees and charges they benefit from debit cards are one of the reason their system is alive today, they wouldn't like CBDC to flourish.

I used to think that Nigeria total population was around 200m until checked Macrotrends and realized that it's now around 229m millions with growth rate of 2.4% yearly, now imagine how this numbers will look like in the next 10 years despite the high number of poverty.

With this number, more than 70% of adults aren't employed, I'm not sure if the numbers has reduced currently but with this hardship, it should be higher or be in that range for now. This is why a lot of people engage in crime that gives us this insecurities today. You can't have this type of people with hunger and no jobs and you don't expect not to see crime. This is why many people take opportunity that comes there way and despite that the government is trying to ban crypto activities in the country, it doesn't yield anything but failure.

Crypto is the common man way for nobody to become somebody if you are dedicated and discipline. I have seen some people that do learn basic programming turn developers doing something good for their self, this is the good opportunity of crypto and everyone should embrace it and forget about government helping them.

This Nigerian government doesn't practice rule of law, this is why many countries do t regard the country anymore. They create the law but the endorsement is the problem, many cases of policians that were supposed to be handled like that if the Binance but they wouldn't, who remember when EFCC boss swear to lose his job if he doesn't get Yahyah Bello(ex governor) of Kogi state for laundering of ₦80B but look how the case went low as if there is was probing that happened, these are the problems we have in Nigeria.

Nigeria government doesn't have choice but would comply with the US government, they don't have choice because the world has been interested in that case of Binance and merely looking at it, looks more like chasing of Shadow if you ask me. Who arrest a man that comes for a dialogue when he is not executive asset to Binance? He was only standing as a middleman for Binance and Africa and that was exactly what he came to negotiate the case  with Nigeria government. If they have followed it amicably, they would have resolve this just like the way US acted, invited CZ to the US and probe him and he was found guilty but Nigeria government decide to arrest who is not part of Binance and think Binance was going to comply, it doesn't work that way.

If this case continue like this, the case wouldn't lead to anywhere but I'm sure if US is involved, if Binance is summon to the court, they will go there because that's where law are enforced properly and not in Nigeria Supreme Court that is full of corrupt judges who can't different between corruption and how to identify election malpractices.

You should avoid altcoins with futires. I did the same with Notcoin some days ago and it didn't end well. I long at 0.23 and it's trading below that and I just had to close the trade with the losses.

These are what I learn. Don't do futures with a coin that has a total trading than it's market cap, that means that the top is in.

Don't do a future with a coin that is too volatile, it will be in your favour when it's goes with your trade but the opposite is very brutal and you wouldn't like the outcome. Don't do futures with volatile markets.

Education and school are two different metrics. A child need to get educated and the means is through school, there are some education that can be learn at home but only the parents can't impact everything on a child, they need to go to school and the way is money, it will cost a child money to get educated and you think it's a waste to get educated? That's very wrong of you to say such.

Life isn't all about investments, without education it's useless. From where I'm coming from, it's a crime if a child doesn't get educated because it's lack of education that makes children not be to serious with their life's and many became irrelevant to the society, forget about this thought of abandoning education for investment.

The success stories may be cooked lies and cap but I will choose to believe in the lies than not because that's what Bitcoin does for people. The only drawback right now is Bitcoin can't give you that time of profits it has gave people in the past. Where someone can make 5x in a year but this year alone, it has not been able to do that and I'm not sure if it's even possible to happen. It will need a lot of liquidity and money to pump Bitcoin to that high to give instant 7x or more.

Buying Bitcoin isn't your idea, it's an investment idea that anyone can do own there own, so I don't understand the logic you will use to convince a potential investor to buy Bitcoin. Are you going to promise profits, yes there is profits but will you guarantee it? You don't own the parameters to determine the profits, there is no way to convince your clients and investors to put money in your ideas unless you want to be aseet management with some products but this require some years of experience and licensing.

Your idea might really work if you have your own business idea that is captivating and mature idea that will attract investors, the idea must feasible on paper and reality and not some random unrealistic ideas.

That's the main problem of the country but if you look it more, the causes stretched more than that.

Nigeria is divided by different ethics and regions of different states, there are North, North central, Southeast, Soutwest region. The only place that where farming activities takes place is the North and the North Central where agricultural farming take place and this region because of high level of poverty and low education, some group of people recruit there children into banditary to disturb people from farming. This insecurity has chase away farmers from going to the farm and this has resulted into low farm produce and because of demand, the local farmers can't meet up with the demand which has made the available ones to be expensive and the government has also closed the borders, there has not been a way for people to import goods from other countries.

Subsidy removal: On the may of 23, 2023, the new government came into power and remove subsidy from fuel, so technically everything became expensive, the farmers depend on fuel to make their farming easier from hiring tractors to make ridges, processing their harvest into final foods and cost of transport from farm to their respective house storage where their produce are store. This is why food is very expensive for ordinary people to buy.

Increase in Inflation: The harsh policy set up by the new government has made everything so expensive, you can't even differenciate the price between locally produce items to the ones they are selling outside but because borders are close, it's impossible to bring in some items. Some people are even saying that the cost of buying some items from outside the country is cheaper than buying within the country. This is the mess we are right now and the problems is from failed governments who love looting from the day independence was given to the country.

Is this an assumption or he communicated that to you? Some of the wallet many people believed to be owned by Satoshi has remain untouched for several years and not a single sat has been moved out from it, how do you back your claim that Satoshi enrich himself. Do you even have idea some rich list wallets that has bought Bitcoin since 2009 and has never touch them, please research about "Bitcoin richlist addresses".


It's not about smart people, it's about people who are tired of the government censorship and middleman system across the traditional finance couple with lack of privacy that people don't enjoy. This is what Bitcoin was created for. I think you need to read Bitcoin Whitepaper once more.

Bitcoin isn't back by dollar, it's depends on what a buyer is willing to buy from another seller. It can be pair against any currency even other Cryptocurrencies like Ethereum(Btc/ETH) and many others or other popular stablecoins(Btc/usdt).

Not only bitcoin, we need to be patient in life to over come things. You need time to think to overcome some huddle of life, if you are not patient enough, you will lose many things in life.