fightingdemons:
Goodday Everyone, I want to ask a question on nairaland about crypto and wish to find answers here now hear are the question. what is crypto,what are it uses,what benefit is it to the economy and individual at large and how can one trade crypto etc thanks

The good:
Can benefit you if you have the knowledge and know how to invest & reduce risk & you're not greedy!

The bad:
You can suffer great loss. Haven for criminals.

The ugly:
The Establishment controlled by the elites hates it because it can make you stinkingly rich and they want you poor to be easily manipulated in their Matrix. Soon they will shut down many online programs helping the poor and middle class especially forex and crypto

E180416:


The blockchain, a disruptive technology is behind the emergence of cryptocurrency. The blockchain technology offers full transparency to transactions and open to anyone or institution that needs verification. The current fiat system does not offer this. Infact, governments can deploy the blockchain to improve its processes for efficiency because of its transparent nature. The benefit to the economy cannot be over emphasised. Many Multi nationals like Amazon are deploying the blockchain technology to their operations. A food for thought, the US SEC last month approved Bitcoin ETF to legalise the trading of Bitcoin among securities. We need to be forward thinking and be among the foremost in the adoption of new technologies that creates transparent value. I am sure the government realised this hence the recent lift on the banning of cryptocurrency.

thanks for the your time sir.
Does it have anything to do with the free fall of naira because in some quarters people believe that Nigerians rushing to secure there savings in naira by converting it into crypto or dollars has further worsened the free fall and as such affected the economy.what do you honestly about this obvious disadvantage of crypto to our economy.thanks Boss

Nothing. Crypto ain't different from betting.

Betting is even better.

EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.

Bro plz stop wasting your precious time educating fools

LordBillionz:
Nothing. Crypto ain't different from betting.

Betting is even better.

Says one Agbero from illasamja

Crypto exchanges that get regulated in Nigeria will pay tax to the government. Just like stocks, crypto has also become an investment, we could have crypto fund managers that will provide employment for people.

In finance, crypto is a revolutionary solution aimed to providing several solutions including fast and cheaper payment transactions across boarders, offering assets to retail and institutional investors with high risk appetite., providing security like never before. Crypto uses cut across many sectors including, shipping, finance, web, gaming etc. The technology is evolving and I will say it's at introduction in it's life cycle, very early.

Deogratiasfx:


It doesn't have intrinsic value, yes but people, organizations and countries are making it Big time from it.
Oil may have value now but in 100 yrs, I guarantee u none will care about ur oil wells again. Enjoy it while it lasts

Oil will be here even 300 years to come, do you think coal has gone? People still make a whole lot from it talk more of oil.. Crypto is doing great, but don't compare it to oil please

EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.

You're on point crypto had really empowered young ppl
That normally stand no chance of any financial independence

GodThankYou:
Oil will be here even 300 years to come, do you think coal has gone? People still make a whole lot from it talk more of oil.. Crypto is doing great, but don't compare it to oil please

We have enough coal in my village. U can come and get them. We don't even mind it. Pls come and make money from it

SoNature:


Oga, rest! Stop comparing cryptocurrency to oil well. That one na big insult. Listen, what makes something useful is the value it brings to the table. Oil is used to drive almost all the engines known to man. That's why oil wells are invaluable all over the world.

What intrinsic value does cryptocurrency bring to the table? FYI, cryptocurrency is just an asset class that was proposed by Satoshi Nakamoto to replace fiat currency during the economic meltdown of 2008. Dude rolled out bitcoin implementation plan and went incommunicado afterwards. Today, developers are forking BTC up and down.

That shit wants to replace fiat currency without government's backing. People are free to dream on, but the biggest losers are those the shit will become worthless in their wallets when all the hype is gone.

Oga hope you're aware crypto is a staggering 2.1 trillion dollar industry
And it's just starting
With the advent of climate revolution and transitioning to clean energy crypto has a better future than the so called "oil"

EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.

You nailed it.

Crypto was what made me survive Buhari 8 years of economic disaster.
I was able to buy 5 houses of my choice in different locations during the last bull run.

God bless Satoshi Nakamoto

Hotice085:



Bro plz stop wasting your precious time educating fools

Education is needed. The stigma is becoming too much. This thread was written by the OP because of the recent Binance ban by the FG. People who were abusing the government for going after BDCs started praising them after the binance ban; just to tell you what the typical Nigerian thinks about crypto. The irony is that people who are civil servants and are literally burden without adding any value to the system are out here too saying shit about crypto guys.

silaswills01:


Oga hope you're aware crypto is a staggering 2.1 trillion dollar industry
And it's just starting
With the advent of climate revolution and transitioning to clean energy crypto has a better future than the so called "oil"

The guy na ignoramus. Lmaoooo.

I hate it when I see people who doesn't know shit posture like the are knowledgeable. The ignorants among us are always the loudest.

Deogratiasfx:


We have enough coal in my village. U can come and get them. We don't even mind it. Pls come and make money from it

pffff.. you lie

Crypto contributes to the economy in Nigeria in several ways:

1. **Remittances**: Nigeria has a significant diaspora population, and cryptocurrencies offer a cheaper and faster way to send remittances back home compared to traditional methods like Western Union or bank transfers. This helps in increasing the flow of money into the country and supporting families.

2. **Financial Inclusion**: Cryptocurrencies provide access to financial services for those who are unbanked or underbanked in Nigeria. With a smartphone and internet connection, anyone can participate in the crypto economy, allowing for greater financial inclusion.

3. **Investment Opportunities**: Cryptocurrencies offer Nigerians investment opportunities beyond traditional assets like stocks or real estate. This allows individuals to diversify their investment portfolios and potentially earn higher returns.

4. **Entrepreneurship and Innovation**: The rise of crypto has spurred entrepreneurship and innovation in Nigeria's tech sector. There is a growing ecosystem of blockchain startups and developers working on various projects, from decentralized finance (DeFi) to non-fungible tokens (NFTs).

5. **Hedging Against Inflation**: Given Nigeria's history of inflation and currency devaluation, some people turn to cryptocurrencies as a hedge against these economic risks. Bitcoin, for example, is often seen as a store of value similar to gold.

I can continue more and more


My name is Clement

Sessional crypto trader

olurantiprofile@gmail.com

ABEG OHHHHH i did not open this thread to attack crypto orsu[port ot i just wanted to know more about it

It is like asking what has Gold contributed to the economy.
Crypto is a store of value against inflation. Because Fiat (which is another name for local currency) has infinite suppy,
over time, fiat suffers inflation as a result of governments all over the world printing unlimited supply of their local currency.
Ask yourself, 1 naira in the 1980s, can it buy the same thing now in 2024, IT CAN'T. Because of inflation.
Every citizen is at the mercy of inflation, that was why the original whitepaper of bitcoin pointed out that fact.
Due to the inifinite supply of Fiat, the citizens are playing on an unfair playing field. (Your money in your bank account
will get worthless overtime)
Then comes crypto (which is a store of value against inflation like gold).
In order to safeguard yourself against inflation, buying bitcoin helps you achieve that.
Crypto can benefit the economy in 2 ways.
1. Sane Governments all over the world are now hedging their reserve in bitcoin and gold, the aim is to protect their local currency.
Example in 2015, 1 bitcoin was $200, assuming the government had converted $100 million to bitcoin, they would have 500,000 bitcoin.
today worth is $25,000,000,000. That reserve can now be used to dispense $1 billion over a 25 years period.
That is why the US has approved Bitcoin ETFs, so normal citizens can now diversify their pension funds in Bitcoin.
2. The naira has infinte supply, so if a new government comes and secretly prints more naira, it dilute the current supply and causes
more inflation. you can store your currency in bitcoin to hedge against that, and then pay your capital gain taxes when u sell, hence
helping the economy.

The reason Nigeria is suffering is because many people have zero to no knowledge of crypto, we have many cryptocurrency, but bitcoin is the main one due to its tokenomics which makes it more and more scarce every 4 years. Many people lose money trading crypto, crypto is not designed for trading as much as gold too is not designed for trading, it is for investment and a store of value overtime.
Buy some bitcoin today and hedge yourself against excessive printing of the naira and inflation.

NOTHING. IT IS A CRIMINAL MEDIA PIRATING OF FOREIGN EXCHANGES.

Orisa37

EponObi:


Education is needed. The stigma is becoming too much. This thread was written by the OP because of the recent Binance ban by the FG. People who were abusing the government for going after BDCs started praising them after the binance ban; just to tell you what the typical Nigerian thinks about crypto. The irony is that people who are civil servants and are literally burden without adding any value to the system are out here too saying shit about crypto guys.

So why do you think we have minister for Digital economy, plz stop wasting your time illiterate people will always say shit

Epstein:


It is of no benefit to any economy......popular amongst criminals to disguise sources of funds and engage in illicit trades.

It's volatile, unregulated and risky - and certainly not a profession.

Go back 20 years and most criminals dey talk say na 'Forex' dem dey trade!

Who told you that ? You need more education about crypto and how the ecosystem works, the reason some people believe cryptocurrency has no benefit to the economy is because the country's digital literacy rate is still low. Everything about crypto is not for tech laggards, but the tech smart and early adopter. About regulations, the US and the EU are already regulating their crypto ecosystems, By 2025,regulations will come on full swing on the crypto industry. Why is a country like El Salvador investing in Bitcoin ? When it has no benefits, you need to understand the place in the global financial system before you can understand its benefit to an economy. Bitcoin is digital gold, and for your information , cryptocurrency can traced and tracked and criminals apprehended, It is what i do as a cryptocurrency auditor and investigator.

Epstein:
it provides 50 million jobs....??

50million PIRATES. IT IS ILLEGAL.

fightingdemons:
Goodday Everyone, I want to ask a question on nairaland about crypto and wish to find answers here now hear are the question. what is crypto,what are it uses,what benefit is it to the economy and individual at large and how can one trade crypto etc thanks

Crypto provides the same benefits as your local bank and more.

Additionally, it is more secure than your local bank, it is not as limited to geographical boundaries as your local bank, it is like a world wide common currency.

The benefits and uses are endless, you can use it to do anything you use money to do but on a global scale.

EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

*** Another Add (timestamp: 12:10pm): What you ignoramuses don't also understand is that the typical crypto guy is not broke (in the long run). Linea (a crypto company) is currently doing a campaign. More than 500k people worldwide are engaging and I'm 100% certain more than 20k Nigerians are among. By the end of the campaign, one person would have spent $200 for gas payments and shit to test their Blockchain. How many of you fuols can literally set #300k on fire to bet on a life changing outcome? How many of you have the balls to engage, with no explicit agreement that Linea will reward campaign participants? Today is 22nd of Feb, 2024. If or when Linea do their airdrop, I will come back to update how much an average participant got. ***

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.

They won't read your response cos it doesn't fit their agenda.
I got the ARB and TIA airdrops and I know what this did for me.
We will see them fail woefully since they want to lay blame on what isn't to blame for their incompetence!

solashola:
It is like asking what has Gold contributed to the economy.
Crypto is a store of value against inflation. Because Fiat (which is another name for local currency) has infinite suppy,
over time, fiat suffers inflation as a result of governments all over the world printing unlimited supply of their local currency.
Ask yourself, 1 naira in the 1980s, can it buy the same thing now in 2024, IT CAN'T. Because of inflation.
Every citizen is at the mercy of inflation, that was why the original whitepaper of bitcoin pointed out that fact.
Due to the inifinite supply of Fiat, the citizens are playing on an unfair playing field. (Your money in your bank account
will get worthless overtime)
Then comes crypto (which is a store of value against inflation like gold).
In order to safeguard yourself against inflation, buying bitcoin helps you achieve that.
Crypto can benefit the economy in 2 ways.
1. Sane Governments all over the world are now hedging their reserve in bitcoin and gold, the aim is to protect their local currency.
Example in 2015, 1 bitcoin was $200, assuming the government had converted $100 million to bitcoin, they would have 500,000 bitcoin.
today worth is $25,000,000,000. That reserve can now be used to dispense $1 billion over a 25 years period.
That is why the US has approved Bitcoin ETFs, so normal citizens can now diversify their pension funds in Bitcoin.
2. The naira has infinte supply, so if a new government comes and secretly prints more naira, it dilute the current supply and causes
more inflation. you can store your currency in bitcoin to hedge against that, and then pay your capital gain taxes when u sell, hence
helping the economy.

The reason Nigeria is suffering is because many people have zero to no knowledge of crypto, we have many cryptocurrency, but bitcoin is the main one due to its tokenomics which makes it more and more scarce every 4 years. Many people lose money trading crypto, crypto is not designed for trading as much as gold too is not designed for trading, it is for investment and a store of value overtime.
Buy some bitcoin today and hedge yourself against excessive printing of the naira and inflation.

thanks for this explanation am starting to understand better now thanks once again
\

There is no positive benefit to the economy. Every penny put into crypto will be better utilized in the banks, where they can be loaned to businesses that are adding value or invested directly into these businesses through various mechanisms like NSE.

Crypto thrives for the same reason Ponzi schemes thrive... People want quick profit without caring who gets hurt.

Edipet:
what are you saying. If someone does not lose in crypto you won't get Rich in crypto. Crypto contribute nothing to the economy

Crypto contributes nothing indeed! Mor0n. I paid so many bills from crypto alone last year.

EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

*** Another Add (timestamp: 12:10pm): What you ignoramuses don't also understand is that the typical crypto guy is not broke (in the long run). Linea (a crypto company) is currently doing a campaign. More than 500k people worldwide are engaging and I'm 100% certain more than 20k Nigerians are among. By the end of the campaign, one person would have spent $200 for gas payments and shit to test their Blockchain. How many of you fuols can literally set #300k on fire to bet on a life changing outcome? How many of you have the balls to engage, with no explicit agreement that Linea will reward campaign participants? Today is 22nd of Feb, 2024. If or when Linea do their airdrop, I will come back to update how much an average participant got. ***

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.

Best post ever. The blocking of Binance and other crypto firms in Nigeria by the Federal Government came as a shock to Nigerians. According to the media, the ban was as a result of the firms not folllowing. They were “neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal”.



What's your take on this?



Meanwhile, XPM Exchange remains a safe and secure platform that is already registered in Nigeria under the Corporate Affairs Commissions (CAC) and Special Control Unit against Money Laundering (SCUML) which is controlled by the Economic and Financial Crimes Commission (EFCC)



Therefore, buying and selling of coins, swapping giftcards and converting e-wallets funds for Naira is permissible and safe on our platform. You can click on the link on the signature below to get started.



THIS IS NOT AN ADVERT

azpekuliar:


Crypto contributes nothing indeed! Mor0n. I paid so many bills from crypto alone last year.

because someone else loses his money for you to gain. Your strategy work for you.

Hello Bro,

Everything you said was on point.. We learned about blockchain crypto stuff from google. This one who ask questions is one of gullible people who carry smart phone around and can't update his brain thru Google.
Abeg, is there's a way I can get to contact you. I need ur guide on airdrops. I have never taken airdrop serious since I have been into crypto. Please bro let get connected. Thanks

Hello Bro,

Everything you said was on point.. We learned about blockchain crypto stuff from google. This one who ask questions is one of gullible people who carry smart phone around and can't update his brain thru Google.
Abeg, is there's a way I can get to contact you. I need ur guide on airdrops. I have never taken airdrop serious since I have been into crypto. Please bro let get connected. Thanks

EponObi:
Crypto has benefited Nigerian citizens more the government has ever done for them.

I won't go much into detail because from my observation, ignorant people are too much on this platform and because they don't understand crypto, they've resorted to calling it all sort of terrible names.

Stick with your 50k per month jobs, stick with your freelancing job, let crypto Bois and gals stick with their own. In the next 3 years, we shall which group attains financial freedom.

Edit: Ok, since this is on the front page, I will elaborate more.

Aside the speculations, the tech (Blockchain) is the next best revolution after the internet. If you are sleeping, start researching Blockchain and AI: these two will lead the next industrial revolution. If you snooze, you might end up relying on obsolete jobs and careers in the next decade. I won't say more than that.

Now to speculations: to the outsiders, crypto boi and gals are brokies. Lol. A lot is happening now in crypto that you won't hear about until late next year. That's when dumb money (probably you) will come into crypto to fuel the mass hysteria that will lead to the next bubble, just like in 2018 and 2022. What crypto dudes won't share with you is that there's a new trend (not so new) of airdrop. What this means is people have been receiving a bunch of free money (called airdrops) just by using and testing Blockchain protocols. I've seen people get up to $3k for testing Zetachain; $5k on Tia Protocol, $5k for testing Arbitrium chain, this is just a few I will mention. This year alone, there has been a minimum of 10 projects that did airdrop. The average Nigeria doesn't even earn $1k per year. It's why I said many of you are ignorant.

*** Another Add (timestamp: 12:10pm): What you ignoramuses don't also understand is that the typical crypto guy is not broke (in the long run). Linea (a crypto company) is currently doing a campaign. More than 500k people worldwide are engaging and I'm 100% certain more than 20k Nigerians are among. By the end of the campaign, one person would have spent $200 for gas payments and shit to test their Blockchain. How many of you fuols can literally set #300k on fire to bet on a life changing outcome? How many of you have the balls to engage, with no explicit agreement that Linea will reward campaign participants? Today is 22nd of Feb, 2024. If or when Linea do their airdrop, I will come back to update how much an average participant got. ***

Airdrop aside, we've seen many token pull 10-100x since Jan 2023. I can count 20 tokens like that off hand. There's a crypto project that's coming mainstream soon called World Coin, founded by by Sam Altman (founder of OpenAI , ChatGPT): that coin moved from $2 to $8 this year along. Mind you, I already told you the mass hysteria is happening late next year. That means for the next 1.5 years, crypto boi and gals (those you qualify as inconsequential, broke, gamblers, unserious) will hunt and earn airdrops and flip alt coins for 10-1000x (even more - depending on individual skill sets).

By 2026, a lot of them will japa to enjoy life (not to become wage slaves), many of them will start businesses - they will inject fuel into our economy, build houses, buys cars, enjoy the goodies of life) while you the serious ones will still be dragging with your low pay jobs.

I'm sorry if my writing offends anyone. But the truth has to be said.

The thing is many of you just go through life like zombies without an iota of idea where the world is heading. The universe has handed all you need to excel in life on a platter but many of you are still snoozing. It's why you see content creators buy cars and you term them as yahoo, forgetting content is the crude oil of the new age.

PS: don't quote me to ask for how to start crypto and shit. I don't have the time. The internet is there for you to use. And most importantly, everything I wrote here is not financial advice.

Shout out to my kings and queens on CTNG. You guys are killing it and are making the Nation proud. 2025 - Joy is coming!!!

New Add: this year, Blackrock got their Bitcoin ETF approved. I see some ignoramus saying crypto has no intrinsic value. Mumus. I guess you know better than Blackrock - a wealth manager with more than $10 trillion AUM. Lmaooooo.

Gold ETF was approved in 2004, Bitcoin ETF got approved in 2024. Lol. I can't wait for Jan 2026.

XPMExchange:



Best post ever. The blocking of Binance and other crypto firms in Nigeria by the Federal Government came as a shock to Nigerians. According to the media, the ban was as a result of the firms not folllowing. They were “neither registered nor regulated by the Commission and its operations in Nigeria are therefore illegal”.



What's your take on this?



Meanwhile, XPM Exchange remains a safe and secure platform that is already registered in Nigeria under the Corporate Affairs Commissions (CAC) and Special Control Unit against Money Laundering (SCUML) which is controlled by the Economic and Financial Crimes Commission (EFCC)



Therefore, buying and selling of coins, swapping giftcards and converting e-wallets funds for Naira is permissible and safe on our platform. You can click on the link on the signature below to get started.



THIS IS NOT AN ADVERT

Thank you.

Banning Binance is the right move by the FG. But note that Binance isn't wrong but they have their faults too.

Binance P2P is not price discovery system like they said in their announcement. It's just a platform where users transact like we used to do here on Nairaland and LocalBitcoins.

However, there are some bad elements using the P2P system to sabotage the country. They've been spoofing the order book.

What will happen next is Binance and the FG sitting at the table to iron out a few things.

Everyone using Binance already kyc'ed. They can fish out the saboteurs. In fact, Binance has started removing suspicious accounts. Aside this, the FG will make a deal with Binance to protected Naira. Soon, people won't be able to quote prices that are outside the official naira rate on Binance P2P marketplace.

The FG can't ban us totally from using exchanges or crypto because crypto is taking up some of the responsibilities of the FG regards employment. Also, Tinubu has plans to tax crypto earnings. So it's a goldmine Nigeria and this government can't afford to miss.