₦airaland Forum

Fadfavy:
Do we just buy coins and leave it there till we decides to sell and what is the least capital needed for a beginner and is there extra charges incurred during buying and selling phrases.

Yes.

There is no minimum capital needed,
Invest what you can afford.

There are tiny transaction fees incurred when trading

Theinfomayniac:
I will try to break it down as simple as i can.

Using Market Cap AKA Current value of a coin

Market cap = price per asset × circulating supply.

When the market cap of a coin is high as compared to Bitcoin or any othercoin with good fundamentals like BNB but the price per asset is low and the corresponding circulating supply is high it becomes difficult for the price per asset to rise.

For example
Comparing BNB and DOGE

Market cap of BNB= $80.10B
Market Cap of DOGE= $36.66B
We can see that the gap is huge not sooo huge

Price per asset BNB= $476.41
Price per asset DOGE= $0.2797
Unlike the marketcap their prices are miles apart. Too much gap.

This is because of the Available supply

Available supply BNB= 168,137,036
Available supply DOGE= 131,073,601,161

Scarcity.
The available supply of DOGE is so large that it will continue to dilute the price per asset.

Note that available supply = circulating supply.

I hope this helps.

Check my signature for more details on how to spot crypto gems

Thanks, I appreciate

Thanks op for this interesting topic & the way you're breaking it down

Kudos

Thanks to op for this thread. I've downloaded and registered on binance but stalk in verification phase. I have paper slip of national ID, and the process requires plastic ID. Please is there other way out to get verified?

Mumben:
Thanks, I appreciate

You're welcome

skyangel:
Thanks op for this interesting topic & the way you're breaking it down

Kudos

Thank you

Alberttahir:
Thanks to op for this thread. I've downloaded and registered on binance but stalk in verification phase. I have paper slip of national ID, and the process requires plastic ID. Please is there other way out to get verified?

Use your drivers license or International passport if you have

Omo! There is so much money in this crypto thingy. Even if you don't know how to trade just buying and holding good coins can make you alot of money.
But the catch here is you must have good capital to get the best out of it.

For instance a coin i bought for $16 on the 25th of this month is now $24 , that's about 40% increase within 5days.

So imagine i went in with about $10,000 on the 25th my money would be $14,000 easily today without breaking a sweat, with this i can take profit by selling $4,000 worth of the asset and leave my initial capital.

NB. Never sell all of your stake in good asset.

Omo! If you are still keeping all your money in a Nigerian bank you simply don't know wha is goin on.

Theinfomayniac:
Use your drivers license or International passport if you have

Voters card?

viktor88:
Voters card?

I doubt, but you can try it and see

Sign up and enjoy this $10 free airdrop
https://www.ozc.org/invite?ref=7799441a

Theinfomayniac:
Altcoins are simply other coins launched after seeing the success of Bitcoin

Let me quickly say here that there are 3major ways to making money from cryto

1. Day Trading: This simply means trading positions based on price volatility.
(Not advisable for newbees)

2. Investing (Long term holds) Imaging buying BNB now at $500 and holding it for the next 3 to 5 years when the price would have risen to 2000 or $3000 .
PS. Buy BNB now, it is still cheap, price is going to the moon

3. The third way is ... Investing ( Short term, buying low and selling high within few months). Imagine buying bitcoin last year December at 28, 000 and selling at 45,000 this year. Good right?

There are other ways but these are the most common ways
Feel free to add yours

How about crypto blogging?

Im. Really following. Thanks Op.
But as for a newbie that will get the binance app soon, my concern is identification and verification. Na that slip nim only I get and lasraa

daxon001:
How about crypto blogging?

Blogging in any field of interest can be profitable on a long-term if you put in the work

Bitcoin was a first movers advantage .
Right now it is easier for alot of altcoins to do a 50X than for bitcoin to do a 10X.

What i am saying in earnest is that you should be pitching your tent with alts that will give you a first movers advantage just like bitcoin did.

Thank you very much for breaking it down

Alberttahir:
Thanks to op for this thread. I've downloaded and registered on binance but stalk in verification phase. I have paper slip of national ID, and the process requires plastic ID. Please is there other way out to get verified?

no other way, use Kucoin

daxon001:
Im. Really following. Thanks Op.
But as for a newbie that will get the binance app soon, my concern is identification and verification. Na that slip nim only I get and lasraa

it will not fly try using this to register https://accounts.binance.com/en/register?ref=U9MUWROU

[s]

Zobah:
it will not fly try using this to register https://accounts.binance.com/en/register?ref=U9MUWROU

[/s]

The Nigerian government is planning to launch its own crypto.

We wait to see what they've gat

Ever heard of Degen crypto trading?

Its the fastest way to send yourself back to the village if you lack experience and the quickest way to 1000X your money if you've got experience and grit.

Theinfomayniac:
A retiree just invested N3million into a crypto network marketing scheme because he didn't want to bring two people ........

He was given the option of filling the legs and promised a cashout of N20 million at the end of the circle.

This lead to him paying N3 million
I hope it dosent end in tears.

Hmm..maybe na binary people

Which coin is best to keep for at least 5 months

We are in the season of pumps, learn to take profits.
Market no de go up forever

Anything wey go up must surely come down

Theinfomayniac:
We are in the season of pumps, learn to take profits.
Market no de go up forever

Anything wey go up must surely come down

Boss aside the circulating supply of a coin what else determine the coin is a good coin to buy?

AGLD moving from $0.9 to $7 in less than 24 hrs.
KSM moving from $ 287 to $414 within a week.

Crazy!

please suppose i want to buy bitcoin work N2000 without my account being verified,can i?

minasu190:
please suppose i want to buy bitcoin work N2000 without my account being verified,can i?

No

Weirdgee:
Boss aside the circulating supply of a coin what else determine the coin is a good coin to buy?

use case
The white paper
The team behind the project

donprosper6:
Which coin is best to keep for at least 5 months

SOL
DODO
BNB
RLC
DOT
VET
Matic

Good