Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,227,643 members, 8,071,089 topics. Date: Wednesday, 05 February 2025 at 03:00 PM

Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days - Investment (17) - Nairaland

Nairaland Forum / Nairaland / General / Investment / Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days (64966 Views)

1.5 + Odds Under 2.5 Single / 150k Under 2 Months / Crypto Is A Manipulated Market! (2) (3) (4)

(1) (2) (3) ... (14) (15) (16) (17) (18) (19) (20) (Reply) (Go Down)

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Olam09(m): 11:37pm On Nov 11, 2022
GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usdt there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions

Na your money go depreciate futher. You better withdraw am before e drop to 450 per dollar.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Drunkard1: 11:37pm On Nov 11, 2022
GREATIGBOMAN:
.
I lost money u still want me to send u money


The ogun way go strike u eh
oga i still dey expect the $100. No worry u go recover las las
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by pocohantas(f): 11:39pm On Nov 11, 2022
Carlyboi:



You’re welcome babe!it is a crazy crypto world tbh...moving it around simply makes the coin lose value imagine exchanging a stronger coin for a weaker one the coin value would obviously drop.I’m thinking your buyer would have paid by now at least you can detty this TGIF night with the money lol

Sorry I missed this. Yes he did. Found out I was the one that missed the approx $5 while moving the funds. I think I left it in Spot. Anyway, I got 7k. The guy told me to give him a review, I don’t know how to do that, I would have loved to.

Summary is I lost 50% of my investment. grin Thanks once again.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by fluffybaby(f): 11:44pm On Nov 11, 2022
GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usdt there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions

Hold it till Dec-Feb. $ value usually peaks then.

But you sef grin grin why buy $ when dollar value is high? This is the time to get naira not $. You wait till dollar value falls before you buy dollar.. you messed things up . Just hope dolls would rise to #800 then just sell.

3 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Pastorjohn2: 11:46pm On Nov 11, 2022
GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usdt there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions

Republicans winning in the US and with the fed lowering rates is weakening the dollar.

I'd say take your losses and withdraw the money cuz investors expect the dollar to get weaker from next year
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by fluffybaby(f): 11:55pm On Nov 11, 2022
Nlanalyst:

Like I said; no one gives a smelly ass about your predicaments.
The Naira will keep getting stronger against the dollar, whoever's ox is gored should jump off a clip.

Cliff

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by beelon1020(m): 12:26am On Nov 12, 2022
Manh! Forget it... naira will appreciate against dollar from now till end of January... peeps from overseas will even come in with more dollars... making dollars lose value more this time...
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by ugonna1054(m): 12:43am On Nov 12, 2022
GREATIGBOMAN:
I need ur input.


Money way I wan use start house project


I bought that USDT Because I didn't want my money to be loosing value in the bank


Now all of a sudden immediately I got usdt some people are now telling me I should have gotten BUSD


Why on earth did Naira appreciate


As if they were timing me

Lmaoo, never seen someone in Nigeria livid over naira appreciation, you should be happy the naira is getting stronger �
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Judybash93(m): 1:08am On Nov 12, 2022
Rule number 1! Don't invest what you can't afford to lose. Na HBP that one dey cause... Build on it for the mean time...

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Slimdan360: 1:13am On Nov 12, 2022
Drunkard1:
u no lose money. U are still holding dollar. And for a millionaire to be insultive tells more about u.. Now na u ogun dey strike. Simple i cant help. I move on. U start dey insult. Na ur money i no force u. And i doubt u have upto 19kusd cos person wey get money no dey cry for bad investment. Go and settle with ogun. Cos if naira enter back 150. Na die u dey.
Guy shut ur mouth, if to say e help you, nor be wetin u for talk be this
Maybe na ur wickedness put u for the one wen u take dey beg around so
Idiot
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by MARSHALDEMSA202(m): 1:14am On Nov 12, 2022
Buy Cryptocurrency since all coins has crashed, wait for like 3months or more before selling
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by KenyaNairobiGuy: 1:21am On Nov 12, 2022
Better withdraw everything. FTX CEO resigns and files for bunkruptcy
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Shakitibob0: 1:38am On Nov 12, 2022
Remmedy:
Omo 19000$ is too much
just with 4500$ My colleagues are making 100k to 200k naira daily with same usdt swap……
It’s well …. This money we go make am
how are your friends doing it? Are they full time brokers or merchants of usdt?
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Carlyboi(m): 2:04am On Nov 12, 2022
pocohantas:


Sorry I missed this. Yes he did. Found out I was the one that missed the approx $5 while moving the funds. I think I left it in Spot. Anyway, I got 7k. The guy told me to give him a review, I don’t know how to do that, I would have loved to.

Summary is I lost 50% of my investment. grin Thanks once again.




Naira seems to be going strong against the dollar tho 660?what!

You’re welcome sweetie.I’m not so great at stats or percentages but I think that’s about 67% loss I’m sure the value of your coins rose at some point but you weren’t following up till it kinda dipped or what’s it USDT you bought with it?

Anyways 7k would get you something too 7k is better than 0k or lost coins make sure to give yourself a lil treat it with it you’ve earned it!

Once again you’re welcome babygirl I’m glad I could be of help in some way!xoxo
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by techgen(m): 2:19am On Nov 12, 2022
Tombrown3:


All my life, for the very first time the Nigerian government made a move that will benefit the masses and not only the rich and elite.

I know how much this policy to change our notes will affect criminals especially politicians.

I pray it gets to 500, so I can buy my dream car next year with a smile.

grin it will... Normally, the disparity between CBN rate and parallel market used to be 10 - 20 Naira... And it's going back there... Due to policy changes and international exchange dealings

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by alphabbey1(m): 2:54am On Nov 12, 2022
rottennaija:


You can have low self worth all you want, but don't pull Nigeria down with your low self esteem. Nigeria is a great country, it has the natural resources, the teaming population most of which are youth, most exceptionally brilliant, it has the fertile land, it has almost everything it wants.
Rest, your Naira to dollar rate that was 688 just 2 days ago is now trading at 726... obviously going back to the trash rate it belongs. Your thievery Goverment did absolutely nothing to ease the rate, all that happened was only US cpi index that was released and crypto panic.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by TheGreatIYANU: 3:07am On Nov 12, 2022
cmoney22222:
greatigboman

Same shoes with you op

Op. I had to modify this. I think you should be very happy. I have made back my loss asap. Since i can’t wait for dollar whatever. Am a futures broker trader but will not advise you to go into futures if you don’t have an idea of how it works.

What you should do is to trade me the usdt. For now just buy SHIB Inu. You just need to DCA it when it’s dip. I hope you understand this. You will be in massive profit to cover your loss very soon when it’s moves up.

Don’t stress your self. You using one stone to kill two bird. Just buy shib, then go and sleep. The price now is pretty dipped already. You love na small money for $

Shib ke?! Wtf are you on about?
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Bfly: 4:05am On Nov 12, 2022
Imagine a Nigerian hoping that naira becomes more worthless because he is rich and losing his investment.

What a little and selfish mind.

Now we go around blaming politicians with this state of mind.

The rich people don't care about what happens to the rest of Nigerians. It would be very hard to reverse this way of thinking.

Anyways i hope you make back your money as crypto appreciates. Naira is not your problem.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by sulakishop(m): 4:48am On Nov 12, 2022
You should have tried elth or beetc trading between trust wallet/atomic wallet and binance Bnb.
With 19,000$ worth, you will make 12-20% profit per transaction and you can do it 9times daily.

Do the Maths and thank me later.

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usdt there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Jeffy1206(m): 4:58am On Nov 12, 2022
GREATIGBOMAN:
I need ur input.


Money way I wan use start house project


I bought that USDT Because I didn't want my money to be loosing value in the bank


Now all of a sudden immediately I got usdt some people are now telling me I should have gotten BUSD


Why on earth did Naira appreciate


As if they were timing me
leave that money for usdt and don't buy any coin o... Naira go still fall be chill.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Topshow4real: 6:04am On Nov 12, 2022
It's 743 now... Don't sell it yet @op
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by rottennaija(m): 6:09am On Nov 12, 2022
alphabbey1:

Rest, your Naira to dollar rate that was 688 just 2 days ago is now trading at 726... obviously going back to the trash rate it belongs. Your thievery Goverment did absolutely nothing to ease the rate, all that happened was only US cpi index that was released and crypto panic.
it doesn't change any fucking thing. Nigeria is a great country, if you don't like it, get the hell out to any country you want.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by RichardoTobinho: 6:12am On Nov 12, 2022
Try Sporty bet
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Iscoflexxman: 6:28am On Nov 12, 2022
FireUpNow:


I swear I did no research at all and I was still new in it. I did the airdrop so from the coins I was given, I saw the price in my wallet rising so I had to invest in it, lol and behold they disappeared and ever since then I have learnt a very bitter and hard lesson

DYOR always.

You were scammed, you will recover, its just patience, you can be trading spot alone for now don't be greedy ooooo, font use all your usdt,

Apply DCA method..

Buy dip and sell immediately it pumps, keep ur profit and buy again when it dips.

Gradually, you won't know when you make up to 100 dollars. Imagine holding a coin since last year and realising your coin lost Great value while a short trader made 10× profit.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by alphabbey1(m): 6:36am On Nov 12, 2022
rottennaija:

it doesn't change any fucking thing. Nigeria is a great country, if you don't like it, get the hell out to any country you want.
Dollar is currently at 760. I say make I update u

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by AbooTasleemah1(m): 7:00am On Nov 12, 2022
Wrakeim:
Please the crypto space has been so volatile don't keep your money on centralized exchanges like binance use cold wallets like trustwallet and metamask or buy hardware wallets like ledger or trezor. Check what happened to cex like ftx recently

Soq! What happened to FTX was a coordinated attack. He holds no single BTC and used FTT to back FTT, who does that? It's much like his token has no liquidity. As if that wasn't enough, he allegedly withdrew $300M from FTX weeks ago. This is similar to how Do Kwon of Luna was also making withdrawals every week before Luna crashed.

Sam Bankman-Fried was also bankrolling Joe Biden re-election, even with his administration's hostility to cryptocurrency. A video of SBF surfaced online where he was clearly antagonizing crypto, how can you poo in the same pot that is feeding you?

What led to SBF fall was him trying to seem to outshine CZ. SBF was posing FTX as a threat to Binance, CZ had to pull out when Coinbase published FTX balance sheet. Dude lost almost $400M (if not more) in the Luna crash and he's not ready to be a liquidity to another modern rug pull.

CEX will thrive, they should just be open with their sheet and liquidity. They've started publishing their reserve audit to allay investors' fear. That's a good move to ease out irresponsible project.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by AbooTasleemah1(m): 7:06am On Nov 12, 2022
TheGreatIYANU:


Shib ke?! Wtf are you on about?

I tire ooo. When there are better projects out there flourishing and someone is suggesting Shiba. What happened to CRO, MATIC, APE, and the likes? Doge is even better with Musk's newly acquired Twitter.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by AbooTasleemah1(m): 7:10am On Nov 12, 2022
GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usd
t there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions

You missed a lot things, you probably don't understand crypto to such extent of going all in.

Anyway what you have is impermanent loss which can be recovered if you know your onions. Volatility makes crypto risky, invest your time in exploring ways to recover your loss, but don't sell that USDT. BTC hasn't reach its last bottom yet, with the current FGI, enthusiasts are calling for 12k-15k. You should have an opportunity window there if you know your onions.

Only sell what will sustain you and invest in reliable projects like BNB and ETH. If you are wild, go for BTC, but don't buy now, wait till December.

This is not any financial advice, just some random logics.

#WAGMI
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by shiggy: 7:22am On Nov 12, 2022
GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.


I just check and they're currently selling usdt there at 722 naira.



My hard earned money just lost like that


I just deleted the app... If they like let them make it drop to N400


Crypto have really delt with me



Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200


Anytime I do anything crypto related I lose money


Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar


Will dollar be scarce in December?


Honest opinions



I dunno about December but it's definitely gonna rise
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by doggedfighter(f): 7:30am On Nov 12, 2022
pocohantas:


Sorry I missed this. Yes he did. Found out I was the one that missed the approx $5 while moving the funds. I think I left it in Spot. Anyway, I got 7k. The guy told me to give him a review, I don’t know how to do that, I would have loved to.

Summary is I lost 50% of my investment. grin Thanks once again.

Is the 7k for the 20k crypto ?



Detty December for you grin

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by jornwhite: 8:30am On Nov 12, 2022
pocohantas:


Sorry I missed this. Yes he did. Found out I was the one that missed the approx $5 while moving the funds. I think I left it in Spot. Anyway, I got 7k. The guy told me to give him a review, I don’t know how to do that, I would have loved to.

Summary is I lost 50% of my investment grin Thanks once again.



i serve a living of god !!

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by 16inchdick: 8:47am On Nov 12, 2022
Topshow4real:
It's 743 now... Don't sell it yet @op


743 for your mind abi

I contacted some mallam this morning and they were offering 690 . Na with abeg sef


Hope you are aware for the past 4months our Oil production has been 900,000 b/d . Nigeria just added 400,000b/d to the 900,000 b/d to make it about 1.3m b/d

By Next year Nigeria is targeting back to 1.8m b/d
There has been a decline in dollar earnings for these couple of months that's why the Naira has been doing badly. Do you expect the Naira to keep crashing with the increase in Foreign exchange?

(1) (2) (3) ... (14) (15) (16) (17) (18) (19) (20) (Reply)

For The Deriv Traders / Chuddy Ugorji Got New SUV From MMM Guiders As Wedding Gift / MMM Nigeria Freezes Out Mavrodians

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2025 Oluwaseun Osewa. All rights reserved. See How To Advertise. 62
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.