₦airaland Forum

Lazyyouth4u:
Can you find any of the fintech fund managers there?

Look well. Piggyvest is there. Odunayo Ewenyi, I think.

You should also consider the fact that these fintech "fund managers" have been able to thrive without numerous branches and staff scattered around Nigeria, hence very very low operating cost, which might be the reason for their good interest rates.

A small office on the island is giving top banks a run for their money. Interesting to think, right?

emmanuelewumi:
Morgan capital does not have a mutual fund,

I do not think I said they have.

freeman67:
I don't know the services of Morgan Capital Group that you use. For me, I deposit my money in my account with them and use it to buy stock by myself. The only thing they do for me is to provide a vehicle "itrade" through which I trade or invest and I pay them for it by way annual payment of N2,500 and their commission on any transaction I made. They do not invest my money for me or trade with my savings and pay me interest. So I have never bothered to look for or ask them for their result. I only expect to see any amount I left unspent in my stock broking account whenever I open it.

For Stanbic IBTC Asset Management and United Capital, I entrust them with my money to invest for me. So I requested for their report on Monthly and quarterly basis.

Good how you explain your use of Morgan and of UCAP and stanbic.

I use Morgan solely for their itrade and how convenient and cost effective they are in terms of fees. As you rightly said, they are a "vehicle" for you to directly access NSE. They also help people buy savings bonds, govt bonds and a few other securities.

Many of these fintech are "vehicles" to access some of the above mentioned and more. For US stocks, I use them as a vehicle, as they connect me through their broker-dealer arrangement. Quite similar to Robinhood or TD Ameritrade or Trading 212.

As for stanbic and United capital, one cannot go wrong using them. Personally, I use stanbic too for mutual funds. Also for TBs. As much as I am open to innovation, I still prefer brick and mortar methods to access them.

That being said, I agree that piggvest needs to do more in terms of full financial disclosure.

DaBogu:
ARM is still the best in my own opinion, very fantastic customer service.

Sure. As long as you are satisfied with them, no need to change.

richforever123:
I use Kuda too, this Fintech is so customer centric, for example if when I use GTBank and have a disoense error, I have to call, follow up for weeks, go to the office and shout before my money is refunded, however with Kuda, the money is refunded automatically without me calling, Kuda wil also let you know when the reciepient bank has received the transfer, these Fintech also hold online seminars and give financial advice

I am not advertising them or saying ab=nyone should use or invest in them, they are licence by the CBN and promoted by the Vice President to fill up the gap the financial institution cannot fill, they are target at the young Nigerians and Millenials

Also their rates are not outrageous, Cowryrise offers the investment offered like the SUKUK bond, although there are other Fintechs popping up that are shady like Stashbox.ng and the likes, those ones may likely go bust

Exactly.

There are also cons too, especially regarding full financial disclosure of their activities, but the credible ones will get there. Again, let people do what their risk appetite affords.

afroxyz:
Bros. All you are highlighting is an indication of lack of regulation. Provided you are taking money from the public to invest, you have to provide financial statements. ARM is not publicly listed but they release financial statements.

True, ARM is much bigger, and are also pension managers. Good that they are doing this. As I said, i am yet to see Morgan capital's own. Maybe because they are stockbrokers and sell some bonds here and there....I might be wrong, and would also appreciate the correction

lack of or generally unclear regulations plague this sector. With time, and better people at the helm of affairs, things might improve, I guess.

freeman67:
Sorry, if this does not meet you well. I was not particular about you when made that comment. I sense I may send that wrong signal. That was why I even removed your post that I quoted. My first 2 - 3 of paragraph of that comment was in response to you.

However, the last 2 are general comments. I noticed the same thing here earlier especially with the MBA stuff. Anybody can choose when and how to enter a thread no doubt but I am personally sceptical when it's thrown into everyone's face. That's just all.

No issues, boss.

One cannot be too careful, Nigeria is a weird place sometimes.

emmanuelewumi:
Asset Management Firm send monthly and quarterly fact sheets to the public.

Companies who take funds from the public need to have audited results, it is not until they are listed

A number of private companies have their financial reports on their websites. They also need it in order to boost their credit rating

This is correct. Although, Morgan Capital have never sent me this...or maybe I am misunderstanding the context again.

Well, your views are respected. You contribute your wealth of experience here, you are not perfect but I also learn too, but I think this is an aspect we do not need to reach any agreement.

Let people do what their risk appetites agree with.

emmanuelewumi:
Stanbic IBTC Asset Management is not a publicly traded company. It is the parent company Stanbic IBTC Bank that is a public company

Of course, I know this. They are also publicly traded. As you said, they need to ensure public disclosure, first for SEC regulations, then to their investors.

Fintechs will eventually be publicly traded. Square is now in NYSE now trading at more than $200, SoFi just entered too through a SPAC, I think. Fidelity which is a top investment group in the US is adapting into having fintech-like services available to their users, though not as robust as the fintechs.

That is future, while brick and mortar methods (old school banking and investment ways) will also remain too. Everyone will choose what they prefer.

freeman67:
Which one is digital wallet na? When there receive deposit and also invest on customers behalf?

Like they (piggyvest) said, they started as a bank app (piggybank) and then graduated to an investment app. Even as a bank, they are supposed to be releasing quarterly report for investors and customers. This will enable them to have an idea of what their money is used for, know how their investment is faring and probably aid them in deciding whether to add more, hold or withdraw from the investment completely. The only thing I see them do is offer mouth watering rates to investors. That's not good enough.

Stanbic IBTC asset management send me monthly report on how their funds faring. I wanted to attach that of February 2021 but I couldn't and I don't want to start littering everywhere with screen shots.

Someone could be marketing anything anywhere on Nairaland without issues even if the product is not convincing enough and it will still be surviving but the fastest way to kill it is to bring it to this thread in an attempt to hoodwink unsuspecting investors. The person will make the bubble burst before it's time.

It's okay that newbies come to seek ideas but it does not sit well with me too when an investment is mentioned and you start seeing name that are new to the thread trooping to convince people of what they themselves are not completely convinced about.

you also joined or started commenting in this thread because you replied to a person, right?

I understand your skepticism, however, not all of us are interested in becoming active contributors. Besides, is this now a clique thing as I have suspected? A less frequent contributor cannot have an opinion that goes against the norm?....

That aside, stanbic is publicly traded company. That should be the standard, I use them too. As I said above, fintech may eventually evolve to that stage, they give feedback to their users already so....let's see how it goes.

Also, a digital wallet is what it is...a digital wallet. You could look it up. Piggyvest is not only mentioned here, unless I am wrong. Crowywise provides bonds, etc. Some provide stocks etc


In closing, let people invest as they please. No one is forcing, people are just sharing their opinions for others to make educated guess. I am surprised that the criteria for opinions now is if a person is a consistent contributor. If I had agreed with you all, would you suspect me?


FYI, as I said, I use both old and new - Stanbic for mutual funds and Tb, and the fintech as digital wallet and for US stocks.

emmanuelewumi:
You don't have to sell shares before information about a business, profitablity of the business, sustainability of the business, and the source of the company's profits are made public. Especially a business that accepts cash from the public

You have a point.

Let me state here that I do not work for piggyvest, crowywise, kuda, etc. I use a few of the services some of them provide for convenience sake. I also use normal mutual funds and trade NSE.

Just as I responded above, this depends. They are not publicly traded. Perhaps this is a concrete step that they all have to take to gain further credibility....

That being said, people like us are risking it with them. Risk appetite differs, I guess.

afroxyz:
They are using people's money to invest and paying interest. They need to be releasing financial statements and reports. How else would people know what they are doing with their money?

That's a good point. It depends on how you see it, or maybe I also do not understand this well. A private company owes no outsider this information, unless publicly traded in a stock exchange. The fintechs offer a service to their users, these users do not own shares so are not typically investors in the said company.

Not sure if all asset management companies in Nigeria that are not traded in the NSE release annual report. They just manage people's fund.

The one fintech I use gave a breakdown of all monies processed in 2020 to its users.

Biafran4life:
what is the relationship between selling shares got to do with business/company quarterly reports.Does it mean they don't have financial auditors

I think the other guys can respond to you, i do not intend to continue in this discuss or "monkey hunting" as you have described it, since we are "new" people.

Let us do what works for us all.

Best wishes.

afroxyz:
Does piggyvest release quarterly reports?

As someone has mentioned already, you could think of them as a digital wallet. I am not very sure how quarterly reports play in here....maybe account statement you mean? They are not selling shares.

Lazyyouth4u:
The debate actually has nothing to do with being tech averse. The experienced and reputable fund managers also have apps and IT platforms that their clients use for transactions na

Agreed.

They all innovate too, however, the fintechs provide added value that appeals to their target demographic, obviously. That demographic appreciates the value they receive in real time. Bank apps cannot give you that. Maybe GTB small.

Just as how flutterwave has entered into partnership with PayPal for international transfers, payments, deposits, these guys all fill an important gap within our system. (A reason why VP Osinbajo is a strong fintech advocate)

Kuda, piggyvest, may be compared to SoFi or Cashapp and many similar innovations abroad. As all have said one way or the other, due diligence is important.

Both old ways of doing things and new ways can and should thrive together. This is actually a good discuss, as long as one is open minded to discuss. Everyone has a right to stick to a method they are comfortable.

Also, years of experience within a sector is key as a means to vet, however outliers exist.

They are very tech averse here....careful though. You all will soon be labelled marketers or ponzi advertisers.

To be fair, due diligence has to be maintained before joining any of the fintechs. But kudos to all the genuine ones, they are the sole reason young people are learning the value of investing and saving.

Folks in AUDIO, take note that they are yet to release all their coins in circulation. Read somewhere that it may happen either April or October this year. This may affect the price maybe negatively...in summary, their tokenomics is not too clear.

Asides that, it is a great project with very strong real world use case, and will do very well by end of the year.

Don't sell theta just yet. Just an opinion


Enjoy your wins, trade safe and DYOR.

A305:
Next time, do not buy dip until you confirm "consolidating" green candle at the end of seemingly bullish day after the bearish days.

You would have saved your money and not fall for the "buy the dip" soothsayers/false prophets. And I can 100% confirm to you that 90% of analysts here are WACK and don't have it figured out.

Come to think of it. You mean no analyst here saw this bearish b t c season for you and others to have gotten caught up in it. Oh no... We only have anylysts here for BULLISH days and not for BEARISH days. Funny huh.

Oga, you that is not wack, please try share your own TA, make we dey learn from you nau. At least this thread is for cross pollination of ideas.

So far, all you have done is attack peoples views, call coins shitcoins when asked. Fact - that is your view and must be respected, but please don't disrespect others that are selflessly contributing here.

By the way, check Jedisco's previous posts, he did call this dip...am sure you did not see it before this your post.

Dey try check well sometimes.

gamaliel9:
I dumped 1k dollar on a coin, it rose to 1.4k..later, that same 1.4k, i dumped it at another coin,it became 1.9k, later i dumped the 1.9k on another coin, the money rose to 2.2k dollars...i dumped it on another coin...i lost 1k dollars....i dumped on another coin.. i lost 200 dollars..now i am left with just 1k dollars..

I start afresh. It SEEMS it is good to CONCENTRATE on one coin instead of SPREADING your money in 5 coins

Savvy?

Over savvy.

Notyamate:
This is why I keep saying that crypto is unpredictable no matter how you think you can analyse it. Just praying betece didn't go below $50k.

My order at 52k got triggered, also got myself some theta at 10.75.

I'm looking into Harmony (ONE) too, just waiting for it to dip so I can get me some.

Sure. But as unpredictable as markets are, analysis is still very important.

TA and FA comes in handy in situations like this, especially TA. Those who read charts well sort of predicted the dip though none is sure where the bottom for btc will be for now. Mostly estimations. Jedisco was spot on in his analysis.

One (harmony) is a good coin, the MIT guys, right? Not sure again. You bagged a decent entry point for theta.

Crypto sha...we will keep learning. Good dip. Good to see that people who needed to take profit have done so as the bosses here had advised.

Good buying opportunities all round, bought more theta at $12.5, should have waited a bit more. Finally bought UOS, jedisco. Third long term alt coin for me.

Fingers crossed.

****not financial advice. DYOR.

ursamajor:
please guys kindly respond to this

Let me try....

So most coins have pairs, e.g. ankr/btc, ankr/eth, ankr/usdt. Etc. If you have usdt, you buy ankr using the ankr/usdt pair. Simply look for it, set however you want to buy, and then click buy.

If you want to sell, go to the same ankr/usdt pair, set how you want to sell, click sell and that's it.

Hope this helps. Other folks may explain better.

jidobaba:
Bullish? Hopefully Paypal payments/LTC make that announcement now.

Sure. Bullish for me. Elon is doing a lot in spurring adoption (even when he is messing with his favourite meme coin).

What I am not yet clear about is why I would pay for a product with bitcoin. Even ltc. I would think other coins/tokens but not these. To me, it is like paying for a product with gold. The buyer will loose long term as this is a store of value and has a strong guarantee to go up much higher. I can understand using Eth just as that famous auction house in the UK is doing now.

Or maybe I am too dumb to get it.

jedisco:
They all do... They're just in a parabolic phase of a rally and being smaller caps, can move much quicker. Not necessarily institutional buying...most voyns follow certain patterns

Theta has gone from 3.5 to 15 in less than a month... I get sceptical when people start making further predictions for coyns that have pumped so much...(Remember doge to 1 dolls, bnb to 1000 e.t.c).
A few weeks ago, a 15 dolls theta would have seemed far fetched...now we have it... Could still rally much more higher, but it's sweeter to take profits on the way up

Ah, I understand, price predictions can be tricky, due diligence and reduction of greed will prevent heavy losses, however, I speak based on the fundamentals though. Think VR/AR, Gaming, NFT...theta is the biggest one within that space, and even I did not realise until now...think sony/playstation. Still a suspicion across the community so fingers crossed.

Doge is a meme coin, I never bought it. Bnb is centralized and manipulation prone, never bought too.

jedisco:
Hmmm....

We eventually did revisit the lows and take out the liquidity at 53k.... Only issue is that we closed below the 21d ema 2 days ago and held it as resistance yesterday...
I made a plan and I'm sticking to it.. cut most of my positions and put stops on the rest e.g theta and tfuel... Will look to sell into a bounce today and see how the day closes. ... Over the past weeks, I made good money on alyts.... My focus now is keeping profits... One thing about trading alyts is getting a proper entry.

1. On the daily (first pic) betece lost the 21 ema 2 days ago and held it yesterday as resistance... The last time this happened, it a few days before the effect reverberated into alyts. Infact, most alyts rallied on the second day before reality hit. I'd be looking at 57-57.5k area and see how betece deals with it if it gets there

2. So far in this run, betece has been reversing at the 50d ema (maroon line), this time around, I would play it with caution...esp on alyts... Reason is that most folks are bidding 50-52k for a buy... The last two times, the majority were bidding lower than the 50ema. I've known betece to not satisfy the majority...either a shallow dip or a major dip....

3. Betece has had 6 straight strong months... January to March (so far) has been good. A proper selloff would usually come in any bullrun. So far, we've not had any. When it happens, I want to be ready... No matter how long it takes.

4. On the 4hrly chart (2nd pic), we're testing the 52-53k level for about the 3rd time after taking out previous stops... Perhaps, we see a bounce.

5. There's been news of institutional buying... There's still a bullish case. I'd start scaling into my preferred alyts if betece claims the 21ema as support. Before then, I'd be looking at select plays on certain alyts

Not financial advise but this is how I'm playing it until there's clarity in the market.

Good stuff Jedisco.

Seems like theta and tfuel no longer follow btc. Or what do you think? Theta did almost a 102% run up in the last 3 days. Even yesterday, when every coin was lagging due to Btc's drop, it sustained it's momentum.

I guess it is due to institutional buy (some silicon valley VCs) which was announced to theta network yesterday. Grayscale have since launched a trust for the token last month too. $50 does not look like a pipe dream anymore. 56/7% or more is currently stacked, correction will happen but not much.

Lazyyouth4u:
To be very honest and if you read my comments, you will notice that I only reciprocate the vileness to the riff raffs that think they can use insults to shut me up because I am going against some of their so called gurus that they believe are always right and can never be wrong.

As an investment professional, I always do my DD na and digging through old posts to know the background of the individuals is how I do this . If it was not allowed, NL would have prohibited that feature. And honestly anyone that has nothing to hide shouldn’t fear that.

Sadly, when I dig through i find out that most of the people here are fake, audio liars with ulterior motives.

Fair enough.

Sometimes, ignore though, state your case and ignore. You must not join people to bath in mud. It's good for one's mental health.

handsomebolanle:
sometimes we need people as such that differs a conventional position on opinion/arguments to enable us make better judgement.

But ehhn...Lazyyouth4u can just decide to become a pain I don't understand ... just pick what you need from him and move...One shouldn't stress self replying

Of course, she/he saved a lot of people money by countering that coordinated move.

I was reading and praying someone did...the moniker came through. I honestly don't have a problem with her/him, I just aired my view on the vile approach. As I said, I also have no intention to be a frequent contributor here. So it is not my business.

We need more people doing so on this thread as it has been monopolized a lot by certain folks that are only comfortable discussing what they like, sadly herd mentality follows suit. Getting the thread back to how it was before when I used to be a guest viewing it will help everyone.

Thankfully, feelamong the creator is liberal and allows free discuss which is why a lot of people have been benefitting here. NSEMPA and the crypto thread is good too.

TB rates is picking up again. Good times.

Lazyyouth4u:
I have a lose nut because I speak the truth or because I respond to vile riff raffs that insult me? Which one? You hide behind your cheap phone and yearn dust because you want to be accepted by the herd who will dash you likes for bashing lazyyouth? Kwantinue. You go get the likes.

I actually did support your argument when all were attacking you because you were right about the REITs issue.

You are brilliant, but your approach and the bile that comes out of your mouth when making an argument is why I said you have a loose nut somewhere...it is actually not an insult, it is just what it is. Quite concerning too, however, it is not my business.

what am I using likes for, that I am fishing for it? I don't seek to please anyone nor find clout here. I also don't frequent this thread often.

I expect that you will reply to finish me as usual or maybe dig up my own "past". It matters not to me, this is my last response to you.

Best wishes.

Thank you for sharing, yagza.

Lazyyouth has a loose nut in her/his head. I honestly do not want to encounter her at all, however the article above vindicates her.

Always do due diligence, people. Not everything we advice here is correct, we are humans after all. We err sometimes.

A50boner:
boss is it safe to buy tfuel now...if its not, what other promising coins can I buy now?

Not providing financial advise, as this is your money and you take the final decision....

But because I own both theta and tfuel, i will tell you that both will move up well in April. Some correction and consolidation will happen, but it will move as both of them move together most times.

DYOR

PuZZyNegro:
Thank you.

I have two payoneer accounts and mastercards as I have been using payoneer for over five years now.

Thus my concern. I use payoneer to receive money from Fiverr marketplace so I really need to be sure buying directly is safe.

If payoneer ever blocks an account, it's really a complex thing because even Fiverr does not have the power to remove the old payoneer account from the Fiverr account.

What this means is that even if you create a new payoneer account, you will never be able to add it to Fiverr as that option will be blocked by payoneer.

PayPal is never an alternative to payoneer thus the reason I'm being extremely cautious.

Don't risk it....at least until you get several reviews of the pros and cons.

Stick with p2p for now

LauraClasikVibe:
MEANING I CANNOT WITHDRAW WHEN I NEED CASH URGENTLY

very correct.

In the Nigerian context, it may not be a wise investment decision to buy REITs. When SFS REITs launched, the price was 100 naira or so, now it is 68 naira. If you invested at the initial offering, you would have lost almost 50% of your capital, and dividends are not fixed in price too.

Selling REITs when you need money na war. Which is why you see even elders of this forum marketing it to you, as dem wan offload their REiTs bags. (So sorry, but I could not resist the slight jab.)

As per renting out a house, using some of the tips here is good, but as usual, don't follow people blindly. I don't own a house but I know that there are bad corporate workers who are tenants and there are good pastors and business people as tenants. What is the percentage of all people who are not executives that are bad tenants? Location is also a factor too. A person with a house in Igando, ikorodu, is also looking for corporate tenant. That's funny.

In summary, do your own due diligence. Trust your intuition.