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

Don't see bruh, naira will fall. I hope you will recoup

All the best

There's a difference between "Crypto Is Not Just For Me" and "Crypto Is Just Not For Me".

The first one means crypto is not for you alone, while the second one means crypto is simply not for you.

Dollar will definitely hit 1k+ before general election NXT year... you've not lost yet...jus leave it there

Corrinthians:
My brother, if you know what's good for you, dump those dollars asap. I was a victim too, but I've cut my losses and moved on.

If what my friend who's a bank manager told me yesterday is anything to go by, brother, it would be a miracle if dollar doesn't hit 380 naira by January.

What did he say bro?

Carlyboi:


Good you only tested the waters that cryptic coin ain’t for the faint-hearted, ignored that investment nonsense for so long till I put it in some decent sum that’s now reduced to about 35% of my input....not even bothering with it I ain’t selling till it rises to at least the sum invested even if it takes eons lol unless I do a 360.
The sum isn’t necessarily a disposable income but I can still comfortably afford to do that.I can’t imagine how people who put in their all in things like this feel?sad,stupid and depressed I guess.it’s crazy out there!

Lol. It has been months. Maybe about a year now sef. So irrespective of the current rate, I have gained. I don’t even know the password anymore. It is not something I can put my hard earned money into. I have seen people get suicidal because of this crypto.

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

Same happened to me too....bought $1400 worth....I de watch am now....

Sell it now, it will drop more... Today is#640 at Black Market....

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

crypto wey don cast.leave ur money in usd and watch it appreciate while u sleep. nobody dey buy crypto again. Elon musk sef don comot him money. sorry oo

Bro when you ventured into crypto , you are not supposed to expect a good return in few days , remember btc was $60,000 some times ago , so don’t be in a rush to sell , as long as you didn’t use your last savings to venture into it , everyone’s is affected as well

GREATIGBOMAN:


What did ur friend tell u

My best advice to you is to dump the USD you have right now because the new Cashless policy plus the plan of the CBN to limit local currency in circulation is going to reduce the amount of local currency that would be used to chase USD. it will fall further because right now the demand pull on the Naira has flattened out because the speculators cannot find any other outlet to dump naira and hold USD coupled with the fact that even advanced nations would soon begin redesign of their currency and adopt the use of digital currency.

somehow:


There's no bottom out with USDT which is a stable coin. USDT is pegged to real currency - Dollar, So whatever happens to the real dollar against Naira happens to USDT.

What he did was buy late, even if he bought real dollars, it still would have lost against the naira.

One thing though, naira is known to be unstable, don't be surprised to see it bounce back to ₦800+ before weekend.

Yes I was actually talking crypto generally... but watch it with these stable coins ... tether ust depegged from $1 and is now 0.03 or so to a dollar ! Usdt occasionally depegs but goes back to a dollar.. has depegged currently.. some have said it's not backed with real dollar asset 1 to 1.
Usdd has now depegged too.. busd is the only one I know that is fully backed with dollar equivalent... maybe also usdc

InvertedHammer:


/
1. Historically, the influx of Diasporans for Xmas tend to bring in more forex into the parallel market.
2. CPI printed a good number in US yesterday and $ tanked against all major currencies---that's the reprieve you saw in the market. It ain't got nothing to do with FG or EFCC.

I have got calls last week about two young lads that committed suicide in Nigeria because of crypto. One left a note to the effect while the other was reported to have been depressed for more than two months. That's two unreported death within one month. So...you see...you are still alive which means that you are not doing bad after all.

I can give you a link to go and read up on other people's losses. You will notice that what you lost is just a penny to the amount of losses you will see there. A lot of people are hurting. But then, that's the nature of the market---sell fantasy to peasants and turn them to bag holders on the long term.

/

Do you think it will still rise or fall?

pocohantas:


Lol. It has been months. Maybe about a year now sef. So irrespective of the current rate, I have gained. I don’t even know the password anymore. It is not something I can put my hard earned money into. I have seen people get suicidal because of this crypto.

I’m having a laugh again cos it seems you just dashed Binance or the trading platform you’re on your 20k chops money including the appreciation!

Why did you put in money when you wouldn’t bother with it tho?lol maybe you can try buying foreign stocks instead if you’re not doing that already.it’s volatile too but can be managed better by the average joe compared to crypto at least you’re investing in real companies not cryptic coins lol!

largeman4u:
Sell now and buy it the USD again when it reaches 610 to 630 Naira in like 2 to 3 weeks time and wait

You mean naira will still fall?

SamOchuko:



Bro I’ll advise you sell now and count your losses, the naira is not going to deep anytime soon, not with this issue of the US govt not accepting bills beyond 2021 outside the States by January, the market will be flooded with dollars as most guys hoarding it will be letting go of theirs, the naira is bouncing back. Dangote opening his refinery will give the naira more strength.

News was fake

GREATIGBOMAN:


Why do u think it will go to N600


Throughout this year it has been depreciating non stop


Na for December way e suppose increase e come the reduce.... nawaoo

It went up to 865 because of the recent news that cbn will be changing from old to new naira notes, everyone started rushing to change their naira stock pile to dollar. But soon as d new naira note role out it will start appreciating further

WHITELIGHTER:
Let's tell ourselves the truth, Naira won't get to ₦860 again...it will hover around ₦750 at best and will go lower when new notes hit the market.

Why will it get lower?

Wiseonetemmy:
Of you can take this advice, you will laugh last. The truth is that the dollar is going to crash which will make naira appreciate. But instead of just keeping all your usdt, you can buy cryptos with 20% of that usdt. The 20% you invest will multiply your usdt multiple times in 1-2 years if you have the patience to wait. Cryptos are at their cheapest right now and it will be a sad news if you don't take advantage of the low prices now.

Why will naira appreciate ?

I rather put my money into piggyvest and smile after 6 months of saving.

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

If you have more money, this is the time to buy more

koning:
I sold dollar at #640 yesterday. The Mallam was even reluctant to accept it from me.

You will be lucky to see it at 500 naira by December. It's crashing rapidly.
The real shock will come in February if and when The US central bank implement their plan to withdraw dollar notes printed before 2021 out of circulation.

Change your Dollar now.

fake news...not available on any US cable news. Sorry bro, but you have been scammed...and the same has risen to 720 today.

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

read ur bolded statement. Which advice u need again?

Juleeee:


Sorry. But I don't want naira to loose value, I want it to gained more value as millions of Nigerians lives depend on it.

Nigerians are complaining of high depreciation of naira to dollar. Those in crypto and other forex speculation businesses and those abroad are praying for Naira to crash. My friends abroad are always threatening their contractors to speed us their projects whenever Naira falls. That is when they send money to acquire key items in BOM and fast track the projects. They are always speculating about future fall of Naira. They are the ones that made me know Labour in a building projects and other technical related fields are suffering as the labour cost has almost remain the same or about 10% or 20% increment in almost two decades. Only core professional fees increased. The artisans are suffering.

Those abroad that have been sending money home for domestic project staff and families, even when Naira depreciates, they will never increase the amount and mostly, they send money in Naira.

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

Continue 70 years old man

Don’t go and invest on air bnb in lekki

Carlyboi:


I’m having a laugh again cos it seems you just dashed Binance or the trading platform you’re on your 20k chops money including the appreciation!

Why did you put in money when you wouldn’t bother with it tho?lol maybe you can try buying foreign stocks instead if you’re not doing that already.it’s volatile too but can be managed better by the average joe compared to crypto at least you’re investing in real companies not cryptic coins lol!

Sometimes I feel bad about how carefree I am about my 20k. It is good money in current Nigeria. As at when I put it, the plan wasn’t to abandon it. It just didn’t seem like my kind of thing. It didn’t seem legit and free of manipulations. So, I shelved it. Let me try to log in now.

It is Binance, I am sure of that.

Corrinthians:
My brother, if you know what's good for you, dump those dollars asap. I was a victim too, but I've cut my losses and moved on.

If what my friend who's a bank manager told me yesterday is anything to go by, brother, it would be a miracle if dollar doesn't hit 380 naira by January.

And what did he say that you can't share here?

YorubarLord:
I'd buy xrp with all of it and keep if I were you. It will become a currency countries will use starting from 2023 ending it will go up to over $300 right now its around $0.4. DON'T KEEP YOUR MONEY IN DOLLAR BUY XRP AND KEEP FOR YOUR OWN GOOD

I am a long-term XRP investor. Which countries are planning to adopt XRP?

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

Have you ever heard someone say "patience is a virtue" you need all of it when trading

Well not only you lost more have over 100k If unsold few days ago.. I will be 20Million naira reacher but I bought at about 450 thou.. what I will advise you is if you can’t tolerate the risk.. sell like 30% now and leave the remaining 70% I believe we will touch 1k before election next year.. there is always risk in everything wether naira or dollar it’s all risky

16inchdick:


My friend just bought for 670 today

Buying is different from selling.

SerendipityHIGH:


News was fake

Serious?

Timo2020:
Crypto is for everyone no business that doesn't has risk even though crypto is so volatile people are still making it all you need is more knowledge about how cryptocurrency works.now let me suggest a token for you it's called XEN you don't need to buy just mint for long term on ETh blockchain thanks wish you best of luck

Greetings bro, I have tried this but it doesn't work because they are saying I need to pay 18.45 usd in ETH before I can mint.