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Nairaland Forum / Nairaland / General / Investment / Crypto Currency Investors Thread (3775934 Views)
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Re: Crypto Currency Investors Thread by DrShomo: 3:54pm On Sep 04, 2022 |
Hey guys,.. how do I report Patricia app,.... Bought Ethereum & BTC worth of 150$ for over a year now, and they refused me to send it out of my wallet from the day I bought it from them,... I don Mail Dem tire but all the reply I keep getting from them is they are doing maintenance, for over 1year?, And the coin self don drop to 45$, but I still wanna send it out and quit doing business with them,.. nah only 9ja things dey always dey way too different,... Patricia app is a scam stay away from them 9 Likes |
Re: Crypto Currency Investors Thread by Truthshotcrazy: 4:27pm On Sep 04, 2022 |
Geovanni412:Next time put disclaimer to indicate the kinda people the advise targeted at. Fake investors who will start crying mummy daddy when huge drops happens & blaming whoever advised them to buy crypto A or B Even if it drops 95% , There is not a loss until one sells the asset. This is especially true for DCA on spot market unless the value of the asset drops to Zero. If it is not realized, it is not ‘LOST’ , for a very good project on the spot market which hopefully, will have a rebound after extreme lows/crash unlike several rug pulls which abound.Just a little patience and your future self will thank you one or two or three or 5years from now, In the next superlative Bull run projected to be around May 2024 when the next Bitcoin halving event will take place , and the next crypto millionaires will emerge. 50-80% loss. So? Did one sell it?No? Then nothing lost.( Elsalvador comes to mind) Market is down now but we all know that shit going up in future. Like l said earlier, would only advise newbies to buy BTC. Some of the rest alternate shit coins is just noise & will go extinct with the crash. Won’t forget rugpull ICP and more recently LUNA, in a hurry. DYOR 2 Likes 1 Share |
Re: Crypto Currency Investors Thread by Johnn44: 4:38pm On Sep 04, 2022 |
DrShomo:Since a year ago.what a shame!. Very Very bad reviews abound on the internet and app store. Just ensure its the official app and official site you dealing with tho, and not a mere phishing app or website. There were over 100 fake Patricia on Instagram alone, until the owner got verified. Here is their real url. You can also complain there and drag them on twitter also. Hopefully, they sort it out quickly. https://instagram.com/welcometopatricia?igshid=YmMyMTA2M2Y= 6 Likes |
Re: Crypto Currency Investors Thread by Johnn44: 5:06pm On Sep 04, 2022 |
Geovanni412:It is very dangerous to DCA right now sef.but is not very dangerous to trade futures or margin that require leverage thus magnifying losses and profits , in this period of Extreme volatility and uncertainty 1 Like |
Re: Crypto Currency Investors Thread by Johnn44: 5:10pm On Sep 04, 2022 |
Binancian:Gbam! 2 Likes 1 Share |
Re: Crypto Currency Investors Thread by Geovanni412(m): 5:58pm On Sep 04, 2022 |
Johnn44: Everything in life involves some degree of risk. Like I said in my latter comments , my post was strictly directed to those 'investors' who come to wail after 50% or more dips in their investment that crypto has finished them. Futures - the probability of succeeding in it is as hard as the probability of being successful in Nigeria . The official statistics says that only 2 percent of Nigerians have up to 500k in their bank acct- https://www.google.com/amp/s/www.vanguardngr.com/2016/06/2-nigerians-90-bank-deposits-ndic/amp/ Does that mean we should abandon Nigeria? Low chance of success does not mean you should accept fate and give up. Everything in life that is worth it has a low chance of success, if you look at the numbers. For example: the chance of one becoming a professional footballer in England from the youth leagues is way less than 1 percent -https://ballathlete.com/the-odds-of-becoming-a-professional-soccer-player/ 1 Like |
Re: Crypto Currency Investors Thread by Viscy(m): 6:30pm On Sep 04, 2022 |
DrShomo: Why don't you sell it on their platform and withdraw the money into your bank account? My experience with Patricia was also very unpleasant. They made me scared of using any Nigeria crypto site 12 Likes |
Re: Crypto Currency Investors Thread by Johnn44: 7:00pm On Sep 04, 2022 |
Geovanni412:Sugarcoat and/or rephrase it however you want. The fact remains that crypto is a. very volatile financial instrument unlike traditional financial markets like stock or even the forex market. Movement from 102.0002 to 102.0008 might be all in a day for a typical forex market. 4 or 5pips might be all in a day for forex for example.That is why crypto has been classified as one of the most volatile assets requiring extra caution especially when using leverages. leveraged trading normally is very risky even in traditional stock markets and the lesser volatile financial markets and one is to manage that risk accordingly, But low chances of success does not require giving up. Despite that, even a sea safe for voyage ( with some relative risk still of course on a normal day), it's not advisable to sail on it when there are heavy storms . flying is risky, comes with some risk, but it's not advisable for a pilot to fly when the weather is stormy & chances of unclear weather & probability of fatal accidents highest. Same applies to crypto. On a normal day, It is extremely risky and dangerous to use leverage in trading as one is more susceptible to losing capital, since a leveraged position can be easily liquidated even without asset price dropping to zero unlike spot market . Crypto ordinarily , is a very volatile asset requiring extra caution especially when using leverage. The greatest numbers/volumes of liquidations as established, occur in crashes/depressive prolonged bear market, TIMES like these of EXTREME PRICE VOLATILITY . It should not be an an addiction. A calculated short break from the market this period is worth it especially for leveraged positions. Last time l checked, even successful most skillful 1% pilot, don't fly unnecessarily in stormy foggy misty adverse weather with greater probability of fatal accidents And yes Low chance of success does not ever mean giving up, but it is worthwhile to look at what the 2% are doing when in a place like Nigeria, and emulate their success . For example, the 2% who own 90% bank deposits are likely to be multinationals workers or oil workers, (corrupt)polithiecians ( president,governors, etc) at corridors of power & national cake, or friends & associates of polithiecians who ruled the nation in the past and benefited massively from policiess to grant their business monopoly in the past eg Dangote was granted monopoly of cement importing in a full country. Or simply associates of polithiecians in the past like the very very lucky tailor to first lady, Folorunsho Alakija who became oil bloc owner in military regime. It is pertinent to look at what the 2% are doing and emulate them.So if not in politics or not working in multinational like chevron,etc l would advise an entrepreneur in Nigeria to be closer to polithiecians. Imagine owning a pure water factory & winning contract to supply all the politicians in Abuja whenever they meeting. it is very worthwhile to look at what the 2% are doing when in a place like Nigeria, and emulate their success . If you look at the numbers, oil wealth of Nigeria is estimated to benefit an approximate 1% only as a result of corruption. . Nigeria is a classical example of the 'resource curse'. So when in Nigeria even as an entrepreneur not working in multinational and not interested in politics or getting to corridors of power, take advice -------KNOW ROAD OR FOLLOW WHO KNOW ROAD aka the streets call it connection. 4 Likes |
Re: Crypto Currency Investors Thread by seankafor(m): 7:01pm On Sep 04, 2022 |
Glad Nigeria is queuing in into the Blockchain technology https://www.bloomberg.com/news/articles/2022-09-04/nigeria-binance-in-talks-for-digital-city-to-develop-blockchain |
Re: Crypto Currency Investors Thread by danowena: 7:29pm On Sep 04, 2022 |
OffsahBoye:One of the most sensible posts. However, this will apply to investors or long term traders who want to profit from the cumulative price differences and not traders. I am in same sch of thought. There is no real ideal time to enter the market. Just enter and wait it out. 1 Like |
Re: Crypto Currency Investors Thread by XaToXi: 7:34pm On Sep 04, 2022 |
pinkygurl: I don't trust that DoKwon guy. Luna isn't his first failed project. 2 Likes |
Re: Crypto Currency Investors Thread by XaToXi: 7:39pm On Sep 04, 2022 |
Johnn44: Depends on your strategy. I make more money shorting the pumps than buying/DCAing the dips. 2 Likes 1 Share |
Re: Crypto Currency Investors Thread by Johnn44: 7:47pm On Sep 04, 2022 |
XaToXi:The market is just plain boring and the pumps are very scarce right now. 24hr BTC high today is 19 956,54. It is still dancing at 19 832,22 several hours later. Is that what you call pump?since 19th August the market dipped badly, even me myself have been looking for pump with tourchlight to short. No better pump. August 25th one week later, lt was showing small signs of recovery and l was hopeful for better pump. Only to crash again 26th. It's just a plain boring uninteresting pump situation for the past two weeks Hashtag bring back 25k |
Re: Crypto Currency Investors Thread by XaToXi: 7:49pm On Sep 04, 2022 |
No fee trading on btc and busd pairs on Binance means it won't be a bad idea to accumulate more btc using a strategy grid as btc ranges from level to level. 17500/18500/(19500 to 20500)/23500/24500/25500 |
Re: Crypto Currency Investors Thread by XaToXi: 7:53pm On Sep 04, 2022 |
Johnn44: Seems you missed the lunc pump. That btc is boring or ranging doesn't mean other coins are not pumping and dumping. 2 Likes |
Re: Crypto Currency Investors Thread by Johnn44: 7:57pm On Sep 04, 2022 |
XaToXi:Back to sender Even if too much capital in millions of naira and not using leverages in futures or margins, Any body brave enough to touch lunatic LUNC or LUNA is a gambler not trader 1 Like |
Re: Crypto Currency Investors Thread by XaToXi: 8:04pm On Sep 04, 2022 |
Johnn44: Lol. So you sef dey fear DoKwon? The Cel and Luna pumps are good candidates for shorts for those who know how to. |
Re: Crypto Currency Investors Thread by DrShomo: 8:04pm On Sep 04, 2022 |
Viscy: If I sell it,... I lose bro,.... Assuming I sell it quickly when I bought it @ $140... I should have count my lost and move on,... But coin don loose value enter $40 |
Re: Crypto Currency Investors Thread by DrShomo: 8:11pm On Sep 04, 2022 |
Johnn44: I think the owner of Patricia app is a big thief. There might be a phishing site normal normal,... This app is just something else,.. they even stopped replying my mails,..... Thinking of dragging them on Twitter |
Re: Crypto Currency Investors Thread by danowena: 8:25pm On Sep 04, 2022 |
XaToXi:I am unable to use my dollar card on binance so had to go to to a different site. |
Re: Crypto Currency Investors Thread by Geovanni412(m): 8:38pm On Sep 04, 2022 |
Johnn44:. Very valid take you made about the Nigerian resource curse. The issue of liquidation to me is a problem of greed and not understanding the difference between cross and isolated margin. Personally, i only open trades on isolated margin and I only take ONE trade at a time. If I'm trading BTCBUSD, i will hold onto it till i either win or lose before i decide to open any other position. When someone opens five altcoin trades on cross margin of 10x, that person is begging to be liquidated. Every coin has its own volatility peculiarities- ICP and TRX for instance, can move 10 percent easily on a range/boring day on btcbusd. I avoid all altcoins and trade only BTC--- i be trader no mean say i wan get high b.p before my time For difference between isolated and cross margin, guys, you can watch this short video. https://www.youtube.com/watch?v=tpY34IE2N4g&ab_channel=SoheilPKO 3 Likes |
Re: Crypto Currency Investors Thread by Hadizometer: 8:41pm On Sep 04, 2022 |
ETH merger would definitely bring a rally 4 Likes |
Re: Crypto Currency Investors Thread by pinkygurl(f): 9:05pm On Sep 04, 2022 |
Hadizometer:Certainly. We await September 15 or so when the merger will take place. ETH is one of the best Alternate coins out there that has stood the test of time, second only to Bitcoin itself. If care is not taken, ETH can overtake Bitcoin in future 7 Likes 1 Share |
Re: Crypto Currency Investors Thread by DrShomo: 9:06pm On Sep 04, 2022 |
pinkygurl: Hmmmm |
Re: Crypto Currency Investors Thread by luvlyoracle(m): 9:20pm On Sep 04, 2022 |
Brexxit: Please guys be careful of this guy I sent him money he has refused to respond to my messages. More details to come. 2 Likes |
Re: Crypto Currency Investors Thread by DrShomo: 10:29pm On Sep 04, 2022 |
luvlyoracle: Why I go send this kind of mumu money,... See the idio0t post self |
Re: Crypto Currency Investors Thread by Akinolore(m): 10:43pm On Sep 04, 2022 |
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Re: Crypto Currency Investors Thread by FatherCHRISTMAS(f): 11:12pm On Sep 04, 2022 |
DrShomo:lol baba na you... One love 1 Like |
Re: Crypto Currency Investors Thread by Hadizometer: 12:43am On Sep 05, 2022 |
From all indications, BTC won't go below 19k |
Re: Crypto Currency Investors Thread by Rainbow10: 1:25am On Sep 05, 2022 |
Any Idea why FED hasn't initiated new September hike rate...... |
Re: Crypto Currency Investors Thread by Viscy(m): 3:44am On Sep 05, 2022 |
DrShomo: √Sell it on Patricia √withdraw to bank account √ Use the money and buy on binance or any other reputable platform √ Transfer to any wallet Problem solved, as far Patricia will allow you withdraw into your bank account. 1 Like |
Re: Crypto Currency Investors Thread by KangaIye: 4:35am On Sep 05, 2022 |
Abeg when una go increase the price of all these crypto again at least make I get my exact money back 1 Like |
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