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Crypto Currency Investors Thread - Investment (3361) - Nairaland

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Re: Crypto Currency Investors Thread by gkbiz2(m): 2:58pm On Nov 08, 2023
07017662788 - Feel free to save his name as Scammer
His bank detail:

9138646025
Ime Ime Dan
Palmpay

Ime Dan
88229536491
Wema Bank

2 Likes 1 Share

Re: Crypto Currency Investors Thread by LandMann: 3:28pm On Nov 08, 2023
Fastt:


Don't mind them. Official dollar price from bank is 750. Aboki FX is 970 while Binance(usdt) is 1050 and they say Binance has not hand. Meanwhile when you ask them price of USD they take reference from Binance. Jokers

The real problem is that dollar is not accessible or easily available through the official channel at that official rate.

The government is heavily involved in manipulating the dollar price by creating several insurmountable conditions before the ordinary person can access it for their needs.

The root cause of the problem is that Nigeria is not a productive nation by all reasonable standards. The things we love to consume most are not produced in the country, we need dollar to by the foreign goods, and we don't have enough of the dollar because we don't produce the dollar and we don't earn enough dollars compared to the demand of our burgeoning population.

Even when govt tries to curtail our appetite for foreign goods by settings conditions that make dollar unavailable or largely unaccessible to ordinary citizens who, so as to keep the naira from depreciating, the strong headed citizens look for all channels and means to get a hold of the dollar to use as they see fit

This is what creates the parallel market where you see the rate is starkly different from official rate. The parallel market rate is the true rate if the government removes all stumbling blocks preventing access to dollars.

If the government does that, the economy will collapse quickly cos price of everything that depends on what is bought or brought in from abroad through dollar currency will skyrocket.

Even government will not be able to carry out some projects because those projects will become increasingly more expensive due to depreciating currency.

In my opinion, a depreciating currency is what we need to reset our brains in Nigeria. Government should maintain the official rate and use dollar proceeds to quickly fix our production capacity and education (fix refineries, fix electricity and fix schools and healthcare to world-class standard). This will make made in Nigeria goods and services cheap.

Those who want to continue accessing dollar through black or parallel market so they can satisfy their appetite for iPhones and cars produced outside their country, and gambling on digital tokens in the name of cryptocurrency trading or investment, should be left alone to keep paying high price for dollar in the parallel market. The increasing price of dollars will reset their brains.

7 Likes 1 Share

Re: Crypto Currency Investors Thread by seanwilliam(m): 4:32pm On Nov 08, 2023
It’s hard to make money , it’s harder to maintain it, hardest to multiply it.

6 Likes

Re: Crypto Currency Investors Thread by Ojimmu95: 4:36pm On Nov 08, 2023
gkbiz2:
07017662788 - Feel free to save his name as Scammer
His bank detail:

9138646025
Ime Ime Dan
Palmpay

Ime Dan
88229536491
Wema Bank
I thought as much, I knew he was a scammer,
Re: Crypto Currency Investors Thread by lrman(m): 5:49pm On Nov 08, 2023
LandMann:


The real problem is that dollar is not accessible or easily available through the official channel at that official rate.

The government is heavily involved in manipulating the dollar price by creating several insurmountable conditions before the ordinary person can access it for their needs.

The root cause of the problem is that Nigeria is not a productive nation by all reasonable standards. The things we love to consume most are not produced in the country, we need dollar to by the foreign goods, and we don't have enough of the dollar because we don't produce the dollar and we don't earn enough dollars compared to the demand of our burgeoning population.

Even when govt tries to curtail our appetite for foreign goods by settings conditions that make dollar unavailable or largely unaccessible to ordinary citizens who, so as to keep the naira from depreciating, the strong headed citizens look for all channels and means to get a hold of the dollar to use as they see fit

This is what creates the parallel market where you see the rate is starkly different from official rate. The parallel market rate is the true rate if the government removes all stumbling blocks preventing access to dollars.

If the government does that, the economy will collapse quickly cos price of everything that depends on what is bought or brought in from abroad through dollar currency will skyrocket.

Even government will not be able to carry out some projects because those projects will become increasingly more expensive due to depreciating currency.

In my opinion, a depreciating currency is what we need to reset our brains in Nigeria. Government should maintain the official rate and use dollar proceeds to quickly fix our production capacity and education (fix refineries, fix electricity and fix schools and healthcare to world-class standard). This will make made in Nigeria goods and services cheap.

Those who want to continue accessing dollar through black or parallel market so they can satisfy their appetite for iPhones and cars produced outside their country, and gambling on digital tokens in the name of cryptocurrency trading or investment, should be left alone to keep paying high price for dollar in the parallel market. The increasing price of dollars will reset their brains.


You have said it all !!!! The same thing we keep telling them but they refuse to hear..all they keep shouting is that binance is the one making the dollar price to rise.. they keep displaying their ignorance online and they still refuse to learn..

1 Like 1 Share

Re: Crypto Currency Investors Thread by Luada(m): 5:59pm On Nov 08, 2023
twosquare:
Both Tohmey and SINisSIN have given you the best advice.

The amount you can make on that $10 is $10...if the coin moves 10%...that is if you are using x10 leverage, which you shouldn't exceed, except you have a sure trade via signal or reputable technical analysis. The power of compounding will make your capital grow faster. But trying to use higher leverage does not equal more money, only faster wipeout.


Thanks once more I wanted to ask if you have used future grid not cause it buys at percentage within a range. What to know if you have used it and if you can advice me on how to use it without loosing my money to fees.

Cause I have seen people lose their capita/profit to fees
Re: Crypto Currency Investors Thread by twosquare(m): 7:12pm On Nov 08, 2023
Luada:


Thanks once more I wanted to ask if you have used future grid not cause it buys at percentage within a range. What to know if you have used it and if you can advice me on how to use it without loosing my money to fees.

Cause I have seen people lose their capita/profit to fees
No, I have not. I only trade spot or futures.

1 Like

Re: Crypto Currency Investors Thread by Luada(m): 7:45pm On Nov 08, 2023
twosquare:
No, I have not. I only trade spot or futures.

Ok because people said they are fees associated with grid trading.
Re: Crypto Currency Investors Thread by Luada(m): 8:07pm On Nov 08, 2023
twosquare:
No, I have not. I only trade spot or futures.

OK thanks wanted to ask how normal perpetual buy long contact works.

Does it means if you enter a buy long contract it auto sell pls explain further.
Re: Crypto Currency Investors Thread by lavylilly: 8:07pm On Nov 08, 2023
What Is Cryptojacking?

Cryptojacking is a type of cyberattack in which malicious actors secretly and illicitly use someone else's computer or device to mine cryptocurrencies. Cryptocurrency mining is the process of validating and verifying transactions on a blockchain network, and miners are rewarded with new cryptocurrency tokens for their efforts.

In a cryptojacking attack, the attacker typically injects malicious code into a victim's computer or website. This code runs in the background, using the victim's computing resources (such as CPU and GPU power) to mine cryptocurrencies, often without the victim's knowledge or consent. The mined cryptocurrency rewards go to the attacker, not the victim.

Cryptojacking can have various negative consequences, including:

1. Reduced Computer Performance: Cryptojacking consumes a significant amount of processing power, which can slow down the victim's computer or device.

2. Increased Electricity Costs: The additional energy consumption required for mining can lead to higher electricity bills for the victim.

3. Wear and Tear on Hardware: Continuous mining can contribute to the wear and tear of hardware components, potentially shortening the lifespan of the device.

4. Privacy and Security Risks: Cryptojacking is typically a form of unauthorized access to a device, and it can be an invasion of privacy. It may also open up vulnerabilities that could be exploited for more malicious purposes.

To protect against cryptojacking, individuals and organizations should use security software that can detect and prevent such attacks, keep software and operating systems up to date, and be cautious when visiting websites or downloading files from untrusted sources. Additionally, web developers should regularly check their websites for any unauthorized scripts or code that may be used for cryptojacking.
Re: Crypto Currency Investors Thread by Fastt: 6:16am On Nov 09, 2023
LandMann:


The real problem is that dollar is not accessible or easily available through the official channel at that official rate.

The government is heavily involved in manipulating the dollar price by creating several insurmountable conditions before the ordinary person can access it for their needs.

The root cause of the problem is that Nigeria is not a productive nation by all reasonable standards. The things we love to consume most are not produced in the country, we need dollar to by the foreign goods, and we don't have enough of the dollar because we don't produce the dollar and we don't earn enough dollars compared to the demand of our burgeoning population.

Even when govt tries to curtail our appetite for foreign goods by settings conditions that make dollar unavailable or largely unaccessible to ordinary citizens who, so as to keep the naira from depreciating, the strong headed citizens look for all channels and means to get a hold of the dollar to use as they see fit

This is what creates the parallel market where you see the rate is starkly different from official rate. The parallel market rate is the true rate if the government removes all stumbling blocks preventing access to dollars.

If the government does that, the economy will collapse quickly cos price of everything that depends on what is bought or brought in from abroad through dollar currency will skyrocket.

Even government will not be able to carry out some projects because those projects will become increasingly more expensive due to depreciating currency.

In my opinion, a depreciating currency is what we need to reset our brains in Nigeria. Government should maintain the official rate and use dollar proceeds to quickly fix our production capacity and education (fix refineries, fix electricity and fix schools and healthcare to world-class standard). This will make made in Nigeria goods and services cheap.

Those who want to continue accessing dollar through black or parallel market so they can satisfy their appetite for iPhones and cars produced outside their country, and gambling on digital tokens in the name of cryptocurrency trading or investment, should be left alone to keep paying high price for dollar in the parallel market. The increasing price of dollars will reset their brains.


Understand your point. The point is a lot of Nigerians are hoarding USDT. Due to sharp decrease in naira, most are holding their reserve in USDT. Thinking USDT is USD. Not same at all. Every crook and harry I know now wants USDT. That speaks a lot.

To avoid hyperinflation in any currency buy BTC especially if you are used to the security layer. Play with Shitcoins for profit. Demand and supply. A lot of demand for usdt. And since it's tied to a dollar, we tend to forget its not regulated hence it can be easily manipulated by the big forces outside of Nigeria. They are just being minted every now and then. I use my local currency to buy BTC direct. I take profit from shitcoins I trade it into BTC to avoid stories that touch.

6 Likes 1 Share

Re: Crypto Currency Investors Thread by 10kgod(m): 6:33am On Nov 09, 2023
Fastt:


Understand your point. The point is a lot of Nigerians are hoarding USDT. Due to sharp decrease in naira, most are holding their reserve in USDT. Thinking USDT is USD. Not same at all. Every crook and harry I know now wants USDT. That speaks a lot.

To avoid hyperinflation in any currency buy BTC especially if you are used to the security layer. Play with Shitcoins for profit. Demand and supply. A lot of demand for usdt. And since it's tied to a dollar, we tend to forget its not regulated hence it can be easily manipulated by the big forces outside of Nigeria. They are just being minted every now and then. I use my local currency to buy BTC direct. I take profit from shitcoins I trade it into BTC to avoid stories that touch.

Boss, you said to not hold Usdt. Do you think holders of Usdt is bigger than USD holders?
Is it not those politic*ians that have access to free money holding most of the foreign currency like USD?

Those politic*ians are holding junks of USD in banks and in Cash Boss.
Re: Crypto Currency Investors Thread by LandMann: 6:34am On Nov 09, 2023
Fastt:


Understand your point. The point is a lot of Nigerians are hoarding USDT. Due to sharp decrease in naira, most are holding their reserve in USDT. Thinking USDT is USD. Not same at all. Every crook and harry I know now wants USDT. That speaks a lot.

To avoid hyperinflation in any currency buy BTC especially if you are used to the security layer. Play with Shitcoins for profit. Demand and supply. A lot of demand for usdt. And since it's tied to a dollar, we tend to forget its not regulated hence it can be easily manipulated by the big forces outside of Nigeria. They are just being minted every now and then. I use my local currency to buy BTC direct. I take profit from shitcoins I trade it into BTC to avoid stories that touch.

Your advice is not for the typical average Nigerian who doesn't fully understand how crypto works.

The best time to buy BTC and any other supposedly good crypto is "yesterday".

I'll only advise you to buy BTC if you understand that the value of your purchase can drop by 50-90% suddenly, and you'll have to hold such cryptocurrency for as long as it takes for it to return to it's initial value. You must also understand that your purchase can become totally worthless the next minute, and you need to be prepared to face the consequences of such event happening.

Most of the folks buying USDT today only know how to buy USDT because the process is relatively simple and the risk of losing your money is lower compared to investing in any unstable cryptocurrency, including Bitcoin.

You can't be running away from any unstable currency like Naira and immediately jump into another unstable but valuable currency like BTC. Premium tears and regret will follow.

So let those holding USDT hold their USDT. They can save the USDT and earn interest on it on cryptocurrency exchanges. This is an opportunity the government is not giving to them by refusing to develop the country.

5 Likes

Re: Crypto Currency Investors Thread by 10kgod(m): 6:39am On Nov 09, 2023
LandMann:


The real problem is that dollar is not accessible or easily available through the official channel at that official rate.

The government is heavily involved in manipulating the dollar price by creating several insurmountable conditions before the ordinary person can access it for their needs.

The root cause of the problem is that Nigeria is not a productive nation by all reasonable standards. The things we love to consume most are not produced in the country, we need dollar to by the foreign goods, and we don't have enough of the dollar because we don't produce the dollar and we don't earn enough dollars compared to the demand of our burgeoning population.

Even when govt tries to curtail our appetite for foreign goods by settings conditions that make dollar unavailable or largely unaccessible to ordinary citizens who, so as to keep the naira from depreciating, the strong headed citizens look for all channels and means to get a hold of the dollar to use as they see fit

This is what creates the parallel market where you see the rate is starkly different from official rate. The parallel market rate is the true rate if the government removes all stumbling blocks preventing access to dollars.

If the government does that, the economy will collapse quickly cos price of everything that depends on what is bought or brought in from abroad through dollar currency will skyrocket.

Even government will not be able to carry out some projects because those projects will become increasingly more expensive due to depreciating currency.

In my opinion, a depreciating currency is what we need to reset our brains in Nigeria. Government should maintain the official rate and use dollar proceeds to quickly fix our production capacity and education (fix refineries, fix electricity and fix schools and healthcare to world-class standard). This will make made in Nigeria goods and services cheap.

Those who want to continue accessing dollar through black or parallel market so they can satisfy their appetite for iPhones and cars produced outside their country, and gambling on digital tokens in the name of cryptocurrency trading or investment, should be left alone to keep paying high price for dollar in the parallel market. The increasing price of dollars will reset their brains.


You have said it well. But you didn't add the fact that govt itself is among the highest consumers of foreign goods and services in the country. If not the First.

2 Likes

Re: Crypto Currency Investors Thread by twosquare(m): 7:00am On Nov 09, 2023
Luada:


OK thanks wanted to ask how normal perpetual buy long contact works.

Does it means if you enter a buy long contract it auto sell pls explain further.
First, you will need to watch videos on YouTube on how these things work. That's trading 101.

No,it does not auto-sells. You will input the number at which you want to sell,that's when it will automatically sell it when it reaches your desired target.

1 Like

Re: Crypto Currency Investors Thread by DaemoLee: 7:17am On Nov 09, 2023
$PEPE giving joy.

4 Likes 1 Share

Re: Crypto Currency Investors Thread by Luada(m): 7:56am On Nov 09, 2023
twosquare:
First, you will need to watch videos on YouTube on how these things work. That's trading 101.

No,it does not auto-sells. You will input the number at which you want to sell,that's when it will automatically sell it when it reaches your desired target.

OK that is limit order. OK so when you enter a buy long contract does it buys now at the current Price and sells when it price increase
Re: Crypto Currency Investors Thread by Bea1234: 8:01am On Nov 09, 2023
Gurus in the house, pls apart from binance, which platform can I buy coin easily. I have around 200k I'd like to dump into crypto cos I've been getting temptations to play bet9ja with it.

I don't care if it moon or not. I searched for some apps on playstore and I'm seeing yellow card, bybit and some other apps..?


Pls treat as urgent
Re: Crypto Currency Investors Thread by lrman(m): 8:14am On Nov 09, 2023
Bea1234:
Gurus in the house, pls apart from binance, which platform can I buy coin easily. I have around 200k I'd like to dump into crypto cos I've been getting temptations to play bet9ja with it.

I don't care if it moon or not. I searched for some apps on playstore and I'm seeing yellow card, bybit and some other apps..?


Pls treat as urgent

Why not just simply buy bitcoin and stay patient with it

2 Likes

Re: Crypto Currency Investors Thread by lrman(m): 8:19am On Nov 09, 2023
Propaganda doesn't run a government

Tell the people the truth and stop deceiving them , well for those that allow themselves to be deceived sha...

Dollar is now above 1000naira...
Re: Crypto Currency Investors Thread by Bea1234: 8:20am On Nov 09, 2023
lrman:


Why not just simply buy bitcoin and stay patient with it

Okay. On which platform?
Re: Crypto Currency Investors Thread by 10kgod(m): 8:22am On Nov 09, 2023
lrman:


Why not just simply buy bitcoin and stay patient with it

Well you right for security reasons that btc is safer.
But considering the profit on 200k from btc....it's small except the man wanna hold for decade. Risking it on alt won't be bad to me. We still have good alt coins that has started giving green signals.
Re: Crypto Currency Investors Thread by 10kgod(m): 8:23am On Nov 09, 2023
Bea1234:
Gurus in the house, pls apart from binance, which platform can I buy coin easily. I have around 200k I'd like to dump into crypto cos I've been getting temptations to play bet9ja with it.

I don't care if it moon or not. I searched for some apps on playstore and I'm seeing yellow card, bybit and some other apps..?

Pls treat as urgent
Re: Crypto Currency Investors Thread by seankafor(m): 8:24am On Nov 09, 2023
lrman:


Why not just simply buy bitcoin and stay patient with it
bro .. wetin person with 200k naira wan dey do with Bitcoin?
Re: Crypto Currency Investors Thread by lrman(m): 8:24am On Nov 09, 2023
Fastt:


Don't mind them. Official dollar price from bank is 750. Aboki FX is 970 while Binance(usdt) is 1050 and they say Binance has not hand. Meanwhile when you ask them price of USD they take reference from Binance. Jokers

Okay so I checked CBN official rate yesterday when you posted this comment...guess what?? CBN also claimed the rate is 858naira...why is CBN claiming 858naira while you claim official price from bank is 750naira ?? Is CBN lying ?? Or it is the banks that are lying ?? Or it is you that is lying about the bank rate ?? Or are you saying bank rate is now cheaper than CBN rate ??


Or should we say CBN is manipulating the price , going by the same logic you are using earlier concerning binance..


And if abokifx claims dollars is 970 while binance claim usdt is 1050 , then why can't you guys just simply leave binance alone and go to abokis to buy the dollars at a cheaper rate ?? Abi you guys don't like cheap things ?? Lol.....make una dey play..


And for the ignorant ones , they should not expect the price of usdc to be the same as that of the usdt , usdt sometimes does not always follow the 1$ peg....go and check your binance app and you will see that usdc/usdt pair is traded at $0.99 and not $1...

3 Likes

Re: Crypto Currency Investors Thread by Bea1234: 8:25am On Nov 09, 2023
10kgod:


Well you right for security reasons that btc is safer.
But considering the profit on 200k from btc....it's small except the man wanna hold for decade. Risking it on alt won't be bad to me. We still have good alt coins that has started giving green signals.

Okay. What alt coins? Just mention them pls. I'm willing to take the risk
Re: Crypto Currency Investors Thread by lrman(m): 8:27am On Nov 09, 2023
seankafor:
bro .. wetin person with 200k naira wan dey do with Bitcoin?

If bull run occurs , he can make 100% of that 200k...and incase if the market falls , he will have to be more and more patient till the bitcoin starts its bull run again..

Don't you think it is better than him using it on bet9ja which he said he is avoiding ??


I know many coins that can give him very high profits of up to 500% but the question is are they safer as bitcoin ?? Him trading on those coins will be like that same bet9ja he is avoiding..lol

2 Likes

Re: Crypto Currency Investors Thread by lrman(m): 8:35am On Nov 09, 2023
Bea1234:


Okay. On which platform?

Binance or kucoin
Re: Crypto Currency Investors Thread by Bea1234: 8:37am On Nov 09, 2023
lrman:


Binance or kucoin

How do I go about it on kucoin?


But there's one yellow card app on playstore?
Re: Crypto Currency Investors Thread by lrman(m): 8:39am On Nov 09, 2023
10kgod:


Well you right for security reasons that btc is safer.
But considering the profit on 200k from btc....it's small except the man wanna hold for decade. Risking it on alt won't be bad to me. We still have good alt coins that has started giving green signals.

The current price of bitcoin is 36k thereabout, if bull run occurs and btc reaches its ATH , it means bitcoin might reach 60k...that means by then the guy would have made up to 80% profit on his 200k capital..is this not better than wasting it on bet9ja ?.


And concerning coins that can start giving green signals , many of us know that too , infact we know coins that can do %1000 if the bull run starts , but these coins are riskier to invest on compared to bitcoin , and the guy is not willing to take too much risks and that is why he clearly said he does not want to put it on bet9ja....if he wanted to take huge risks on the money , he will simply use the money on bet9ja and probably make huge profits if he is lucky , with 200k on just ten odds on bet9ja he can make 2million within few hours which makes it technically more profitable than crypto trading if he is lucky

1 Like

Re: Crypto Currency Investors Thread by lrman(m): 8:40am On Nov 09, 2023
Bea1234:


How do I go about it on kucoin?


But there's one yellow card app on playstore?

Bro I have used binance and kucoin for years...and that is what I can recommend since I use them consistently..

As for yellow card , I have not used it before and I cannot be recommending something that I have not used..shey you get


Just download your binance app and get started...
Re: Crypto Currency Investors Thread by Bea1234: 8:59am On Nov 09, 2023
lrman:


Bro I have used binance and kucoin for years...and that is what I can recommend since I use them consistently..

As for yellow card , I have not used it before and I cannot be recommending something that I have not used..shey you get


Just download your binance app and get started...

I can't use binance cos of verification issues. How do I proceed with kucoin?

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