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Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days - Investment (8) - Nairaland

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Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Nobody: 1:54pm On Nov 11, 2022
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 ur friend tell u

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Nobody: 1:54pm On Nov 11, 2022
Truth is that most of the people advising you here don't really know how crypto business works; they're in same league with you.
If you decide to trade in crypto, the first thing you do is to decide your loss limit; that's the amount of loss you'll be able to endure.
So my advice to you: if the amount you're losing at the moment is unbearable, pull out and take the business as a bad one.. cos it can either get worse or get better, but the probability of it getting worse is higher.
I know much about crypto, but i won't be saying more than this. Na you go still advice yourself when the time comes.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by cmt1(m): 1:54pm 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

Naira will appreciate from the 15th of December 2022.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by watchindelta(m): 1:54pm On Nov 11, 2022
you buy when it low, not when it high grin grin shocked it your fault. you Bleep up really, how can you bought naira for 830 something meh, shooo
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by GloriousGbola: 1:56pm On Nov 11, 2022
This will forever be true.

Also this


“If you’ve been in the [poker] game 30 minutes and you don’t know who the patsy is, you’re the patsy.”

3 Likes 2 Shares

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Treadway: 1:56pm On Nov 11, 2022
uzohrome:
Calm down.... naira will come down more
you will complain that things are hard, but here you are wishing things remain hard. Smh. For Naira to gain more value is my own wish.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Nobody: 1:56pm On Nov 11, 2022
Truth is that most of the people advising you here don't really know how crypto business works; they're in same league with you.
If you decide to trade in crypto, the first thing you do is to decide your loss limit; that's the amount of loss you'll be able to endure.
So my advice to you: if the amount you're losing at the moment is unbearable, pull out and take the business as a bad one.. cos it can either get worse or get better, but the probability of it getting worse is higher.
I know much about crypto, but i won't be saying more than this. Na you go still advice yourself when the time comes.


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 FireUpNow(m): 1:56pm 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
Crypto is not for the chicken hearted so I would say wait till after the election or before it as the dollars could go up again. I did little investment in crypto and I lost all. The good thing is that it was a little amount.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by zinaunreal(m): 1:57pm 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


Go for coins that have eco system not pump and dump coins . What do you expect. The only coin yet to do that is pi. The rest are just for trading they have no other function
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Okrabs(m): 1:58pm On Nov 11, 2022
Greetings bro. Learn crypto arbitrage. You never lose because you are trading with the price difference between currencies and crypto coins. Your capital remains in tact. You can make between 0.5%-1% of your money daily, and you trade only on Binance!

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Iscoflexxman: 1:58pm 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
Why not trade spot and recover..



You can buy bitcoin, BNB or any good coin now that it's in dip, sell immediately its raises and rebuy why in dip, you will make more money,


Don't do future if you aren't an expert..


Crypto without vast knowledge is a big loss ooo
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by DadaHammed: 1:58pm On Nov 11, 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

The best way to keep your money from losing value is to invest in Lands. I bought 5 plots of land around FUNAAB, Abeokuta ogun state at 200k per plot some months ago. It has appreciated to N370,000 per plot. Big time real estate companies like PWAN, Adron, Revolutionplus have lands and estates neighbouring my own property.

My Dad always taught me that land is the safest form of insulation against inflation. He never kept huge funds in the bank. Innoson, Ibeto etc are all buying properties aggressively in Anambra, East and Lagos. E get why.

Buy land, fence it and keep it.

5 Likes 3 Shares

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Iscoflexxman: 2:00pm On Nov 11, 2022
FireUpNow:

Crypto is not for the chicken hearted so I would say wait till after the election or before it as the dollars could go up again. I did little investment in crypto and I lost all. The good thing is that it was a little amount.

Spot trade is giving me 10 dollars in one or two days ooo


Buy in dip and sell when e pump
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by frankson1(m): 2:01pm On Nov 11, 2022
Truth234:


Bro. I am a financial market expert. Please do not sell, globally this is a bearish period both in the stock market and other risk assets. However, a lot of assets are extremely cheap.

You were not supposed to just deposit in USDT and abandoned it. Even at that, you should have kept your eyes on Central Bank happenings as CBN made the adjustment that led to the Naira improvement just a few days ago and I covered it in the link below.

Binance P2P sets the Naira-USDT exchange rate based on demand and supply on the platform. This, CBN invalidated by allowing direct naira deposits and withdrawals on the platform. Once that happens, people started depositing and withdrawing without a p2p intermediary.

Please note that USDT is a stablecoin backed by dollar. So your money will always be what it is in US Dollars, only in exchanging to Naira you will notice the improvement or decrease. Now learn how to trade and buy battered cryptocurrencies with real projects and come and thank me in 2024. Yes, that is when the next Bitcoin halving will happen.

https://investorsking.com/2022/11/09/binance-abandons-ftx-takeover-deal-amid-fraud-allegations-ongoing-u-s-investigation/




You're a financial expert and advising him to hold undecided undecided una eyes go clear when Dollar falls further against the Naira.

I've you read the CBN new policy that will commence after by next year
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by eniwhy: 2:01pm On Nov 11, 2022
You don't just jump into crypto without info about a specific coin or token. You need to know it very well prior to trading it.... For example, Doge Coin was #26 before Elon musk sealed Twitter deal afterward Doge coin shoot to #60. You would've made so much money in that trade. You can still make your lost. Reply
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by femijay8271(m): 2:02pm On Nov 11, 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.

U get bad mouth o... a-ha

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by MRNIGERDoxx(m): 2:03pm On Nov 11, 2022
GREATIGBOMAN:



And whoose fault is it it's depreciating?

We all wanted it to appreciate but it kept depreciating


I'm certain it will deep further during Christmas when demand for it will be high I so much pray it deeps further


Imagine u can't do transaction more than $20 with Nigerian cards.


Fuckkk u and your notes


To beat the $20 limitation with the bank, you need to open A Corporate Account with The Right Bank that Allows You to Float The Naira in your Corporate Account to any other Foreign Currency should you be sending it out of the country.


You'll need Your CAC Document and Tax Identification Number (TIN) to register your corporate account with the bank. Many Banks don't have this Solution for their customers. Only the Right Bank can get this done for you.




On the regards of the devaluation of your USDT Funds; It is normal for The Value of USDT To go down as expected because The Price of USDT reacts in accordance To The Black Market Rate, and The Black Market Rate reacts to TRENDING NEWS like The One Below.

2 Likes 2 Shares

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by asto70: 2:03pm On Nov 11, 2022
Nlanalyst:
We can't pray for depreciation of our notes because of one bozo.
Inflation is biting hard on all Nigerians, we don't give q rat ass about you. Can you imagine ,someone praying that our money should continue to depreciate in value because of his own selfish interest ,this is pathetic.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Starzo: 2:04pm 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

Thunder faya you....it is your life that will lose value

Wicked people everywhere

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by kosssy: 2:05pm On Nov 11, 2022
Never you buy anything when price is at all time high because what goes up must surely retrace back and then you can jump in. In trading we say, Never buy anything when price is at premium and never sell when price is at a discount. In other words, be fearful when people are greedy and be greedy when people are fearful. If you have the mind, crypto is at a discount price now. You can jump into Ethereum, ISO token like Algorand, Quant, XLM. FYI, never invest money that you can't afford to loose for your peace of mind.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by masseratti: 2:06pm On Nov 11, 2022
GREATIGBOMAN:



And whoose fault is it it's depreciating?

We all wanted it to appreciate but it kept depreciating


I'm certain it will deep further during Christmas when demand for it will be high I so much pray it deeps further


Imagine u can't do transaction more than $20 with Nigerian cards.


Fuckkk u and your notes

bros dollars normally depreciate during Xmas period mainly because of Nigerians coming back home for Xmas.
Just wait till January dollars will still go up.
And it's nobody fault dollar is getting higher against all currencies in the world.. It's not peculiar to naira.

2 Likes 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Globad(f): 2:06pm On Nov 11, 2022
GREATIGBOMAN:



And whoose fault is it it's depreciating?

We all wanted it to appreciate but it kept depreciating


I'm certain it will deep further during Christmas when demand for it will be high I so much pray it deeps further


Imagine u can't do transaction more than $20 with Nigerian cards.


Fuckkk u and your notes


Naira has a history of appreciating in December. Not depreciating.

This is because more inflows will come in in form of remittances and people visiting with FX.

Let me now be more coded. A policy that will make hoarders offload dollars is in the works.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by frankson1(m): 2:07pm On Nov 11, 2022
Tboy1419:


It may not brother, the CBN policy of rebranding the new naira note has exposed many criminals.



They won't stop at just rebranding the Naira, they're also working on curbing physical cash flow. If they don't back down, there will be less cash and more online transactions both for local and foreign currencies.

4 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by newcommer: 2:10pm On Nov 11, 2022
Fabulouslouie:



Sorry man but investments is a game of patience.

Instead you could have invested in an ETF. Abeg no pray make Naira fall na


Please how do you invest in an ETF? Thank you so much
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by IranianSea: 2:10pm 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
Now see this self centered, enemy of this country. Whosoever wish this country bad, bad things will never ceased to happen to them. A country like America is moving forward because her citizens pray and wish her good every seconds but the case is not the same here that's why it never better for most Nigerians, People like you. You are praying / wishing Naira to fall to 900 / $ shey O ri wipe Oloriburuku ni e ni? Inkan to Dara will never see you.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by oxiide22(m): 2:10pm 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
pussylegendd also known as ilegendd come carry your friend
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Eriokanmi: 2:10pm 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
Sorry broda
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by oluwapoju(m): 2:12pm 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
It seems you need to learn some basic trading.
I bought at average of 816/$ as at Sunday 6/11/2022 and was about to bit down the average to 719/$ as of my calculation today while trading/Arb NGN/USDT and the binance P2P.
Note: It was possible for me to bit down because of the merchant privilege whxh allows me to get some USDT at price below the market rate on the P2P platform
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by grandstar(m): 2:12pm On Nov 11, 2022
GREATIGBOMAN

I'll advise you to glee from crypto. It isn't for you. You might make it big in something else.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by nurudeen181(m): 2:12pm On Nov 11, 2022
greed. taking advantage of the failed economy... you have remained thesame if you didnt do that.. i wonder the kind of things though in business and economy this days or lets say common sense... God help us.. your money has been used to back up Naira.. it will keep falling.. nigerians need your type to support our currecncy.. God be with us

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by DantataJR: 2:13pm On Nov 11, 2022
GREATIGBOMAN:


It's really painful... Especially if u do legit business and know how much sweat u put in before making a single penny.


My eyes now almost having issues due to me always on my system doing gigs for people.


I've been down ever since.




Baddest month of my life.
Crypto no be anybody mate grin

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