₦airaland Forum

JustMellow:
I was banned for 2 days when providing my contributions to @Dreambig124 querry. The painful part was that it was painstaking typing in length and rather for it to be updated, I got a ban. I don't know what I did wrong or what went wrong, but @justwise this isn't suppose to be so.

Cheers!

Sorry about that. Please I’ll still love to see your contribution to what I asked if possible

AkeemTy:
if you have someone willing to loan you the money while you give your crypto as collateral, you and that person should sign an agreement that shows a transaction was done between you too, perhaps a stamp from the court should seal the agreement and convince the VO that the lump sum was as a result of the transaction you did. Think a way around it.

Thank you I’m really grateful

AkeemTy:
Instead of liquidating your cryptocurrency bro which can be hard to buy back at a good price, try to borrow against it which means you can use it as collateral that is if you don't want to liquidate your crypto.

Thank you for your time. This is why I am not eager to sell it, I heard he VO frown at lump sum of money deposited without reasonable explanation. I can try to get someone to borrow me but how do I explain that

mcobex:
Is the $25000/ year inclusive of living expenses or just tution fee? If it is inclusive then you can sponsor yourself because from calculation that will amount to $50,000(approximately #14mil), so you are good. But if the $25,00/year is just tuition fee then you need a co-sponsor and he/she needs to provide the balance of the fee.
As for your brother, since he is not a third party he can submit his letter of support stating how much he will be committing towards your study and he is required to have above that amount in his bank account (he doesn't have to transfer the money to you because he is your blood brother).
For the trading history, feel free to print every trade history you can get that relating to your business (they know online trading isn't a bad thing so don't be scared to show all that).
NB: Try to sell your bitcoins so you have cash in your account before you submit your app, because the vo will want to see raw cash in your account not investment (bitcoins)

Thanks for taking your time. The $25000 covers my tuition for 2 years and not just a year. Like how much do you think should be in my account when applying. I am trying not to sell the bitcoin I have now but if I really need to then I don’t mind selling some of it

Purplestorm:
I might be wrong but I understand some countries frown at cryptocurrency business. Is Canada one of such?

Well as for Canada I made some research and I don’t think there’s any restriction in bitcoin.

parksg:
can't blame her for trying lol

Anyway since it not a buck payment and it has spread out for quite sometime,I don't think it should pose as a problem.

If you're not applying for September you could also sell it in batches.

Or you could sell one or two land(s) and use that to top your account balance.The latter will be more convincing as you could easily show sales receipt.

My thoughts

Thank you. Selling the land is not an option as I want to use them as home ties if possible and also I have plans to use them in future. If I’m to sell some cryptocurrency what’s the best way you think I can show proof to the vo?

mcobex:
Self sponsorship isn't bad but you will be required to provide funds for the entire duration of your program (i.e if you program is for 2 years CIC will need you to provide funds for the whole 2 years which can be much), but in the case of having a co-sponsor, all you need do is show funds for 1 year and your co-sponsor or sponsor showing proof of his/her business or source of income to convince the vo that your second year funds will be available when the time comes.
So the question now is, what is the duration of your intended program? Will your 19mil be enough to cover everything?
As for the proof, you can explain that you are into online trading + cryptocurrency (and show proof of some of your transactions).

Thanks for taking your time
The total cost of my program is about $250000 with a duration of 2 years . How do I proof that? Do I need to print out some of my trading history? I can get some dating back to 2016 but not all, will that be a problem?
Can I use my brother who is in the US but he presently doesn’t have much in his account because he’s doing a project here in Nigeria, I was thinking of using him as a sponsor

NwanyiOkpa:
Can u give me 1 btc?

Well, let's wait for expert advice.

Nice savings bro!

Lol. If it was in 2016 when it was still 400 or 500 i might consider

Thebushboy:
(1) What is the source of the 9 Million saved over 3 years?
(2) Can the transactions that resulted in your savings be backed up with legal documents?
(3) As a self-sponsored applicant, what ties you back to your home country?
(4) Curious....At age 22, Were you in school when you started saving the 9million?

1) Profits made from hoarding and selling bitcoin I send to my savings account. Sometimes 100k, 50k , 200k it depends. That’s what I have been depositing into the account
2) No.
3) I have lands...don’t know if I can use that
4)Yes. I opened a new account for savings when I was in school strictly for saving

Good day everyone. I have been following this thread closely but not as a registered member and I want to thank everyone for the contribution on this thread, I have really learnt a lot.
Please I will need your advice on my application for student permit. Is it advisable for me to apply as a self sponsor for my program. I’m 22 years old and I have managed to save up to 9 million, I have been saving in that account for over 3 years in order for me to sponsor myself to Canada. I presently have close to 10 million saved in form of cryptocurrency together making up 19million naira. I was lucky to buy and keep bitcoin before I got admission into the university because I spent a year at home before getting admission. Is it wise for a 22 year old to apply as a self sponsor? If yes how do I prove to the vo source of funds. I can still try to get some of my transactions on different website dating back to 2015/2016 but not all. I am confused and need your advice