Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,722 members, 7,809,741 topics. Date: Friday, 26 April 2024 at 02:10 PM

Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days - Investment (4) - Nairaland

Nairaland Forum / Nairaland / General / Investment / Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days (60241 Views)

1.5 + Odds Under 2.5 Single / 150k Under 2 Months / Crypto Is A Manipulated Market! (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (21) (Reply) (Go Down)

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Drunkard1: 12:54pm On Nov 11, 2022
kmaster007:
Can somebody teach me plz... Scammers beware
check my signature. I no go collect money.. I go tell u how e be. Is up to u to invest. But u go pay me school fee
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by somehow: 12:55pm 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

When they say, get education, they think education is all about certificates.

Who buys high?
Only follow follow.

When USDT was ₦400+, real traders did justice to their portfolio by then, when it's time to cash out is when learners like you went in with both legs.

What you did is not different from what a non-trained medical doctor would have done, prescribe wrong drugs and dosage to an innocent person.

The holy book says "In all thy gettings, get..(fill in the blanks)".

BTW, USDT is not really "investing", its more of trying to shade yourself from the unstable nature of Naira.

7 Likes 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by olaeffect(m): 12:55pm 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

Buying USDT is actually not investing in cryptocurrency. You would still have been facing same predicament if you had bought USD from the black market.
Your problem is actually not cryptocurrency, your problem is fear of missing out (FOMO), procrastination and greed.
Solution to your problem:
1. Stop chasing profits (your head no like windfall)
2. Start chasing value
a. Go into projects e.g buildings (not single massive ones ooo, but small, small building projects of N1m to N2m (shops or mini flats)
b. Other things that you can build up small small and complete in short time and with not much money.

Come back here after few years and give thanks.
It is well.

9 Likes 2 Shares

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Rapture4real(m): 12:55pm On Nov 11, 2022
I logged in because of you.

Don't sell it. I bought Ethereum of #30000 worth around August 2020 and sold it #70000 Jan. 2021 . Crypto is more reliable than other online investment. It is as real as physical cash but with global impact. Wait. It will soon shoot up. Invest in long term. Don't be too greedy. You will recover it. Just secure your login details.Reinstall the app.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by sonofElElyon: 12:55pm On Nov 11, 2022
dapaiks:
Op you mistake is that you only rush into buying Crypto when it is high, which is the mistake with most folks, in crypto whenever there is a missive pump it is been follow by a dump.
so buy crypto only when everywhere is bleeding and stop buying the top

Still dangerous because you can't say when the market has bottomed out... takes great skill and good fortune... not everyone's gifts

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Sirchiboy: 12:56pm 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
..
Please bless me with the remaining one please
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Guyman01: 12:56pm 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

It will drop further with moves undertaken by EFCC against BDCs, I told people earlier that the current depreciation is not grounded.
By December there's going to be extra dollars coming in

4 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by ecolime(m): 12:57pm 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.
The OP na big fool. Na people wey dey pray for the downfall of their country be that

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by berryPee(m): 12:57pm On Nov 11, 2022
So because of your selfish desire, millions of Nigerians should kpai due to hardship inflicted by the rise of Dollar abi??
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

3 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by IamtheTruth1(m): 12:57pm 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

Those people who are telling not to rush to sell no invest any shishi...

If you don't have funds to absorb, bro sell and count your losses.


If cow dey enter inside bush,if na the tail, cut hold.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by berryPee(m): 12:58pm On Nov 11, 2022
You dey mind the greedy guy??
ecolime:

The OP na big fool. Na people wey dey pray for the downfall of their country be that
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Angelfrost(m): 12:58pm On Nov 11, 2022
Crypto is a loooooong game!

It's not for the greedy and hasty! grin
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Dirpetaner: 12:58pm On Nov 11, 2022
how can it depreciate when the demand for it is high? bro reason am now before you talk
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

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Nosa111(m): 12:58pm On Nov 11, 2022
Don’t rush to sell! Before next week you will see 800+, is it not naira? Lol

I have already lost 75% from my crypto portfolio, I am not happy, I am still buying.
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

3 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by kencrosss(m): 12:58pm On Nov 11, 2022
[quote author=GREATIGBOMAN post=118285012]So due to how

First rule of forex never buy when price is at the peak always wait for the market to balance after every major move

I would have been in same shoes as you I pulled out when dollars got to 800 because deep inside me I felt that would be the peak to settle for

When I saw the CBN policy on refund of old naira note I thought it would certainly reach 1000 to a dollars I wanted to buy higher till I saw the major fall

My best advise for you is to see it as saving and just let the money be
Channel your mentality to spend in dollar and forget the exchange rate it may help you
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by somehow: 12:58pm On Nov 11, 2022
sonofElElyon:


Still dangerous because you can't say when the market has bottomed out... takes great skill and good fortune... not everyone's gifts

There's no bottom out with USDT which is a stable coin. USDT is pegged to a fiat currency - Dollar, So whatever happens to the dollar against Naira happens to USDT.

What he did was buy late, even if he bought fiat dollars, it still would have lost against the naira.

One thing though, naira is known to be unstable, don't be surprised to see it bounce back to ₦800+ before weekend.

3 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by nedekid: 12:59pm On Nov 11, 2022
Check my post from last Saturday. I predicted naira will appreciate against the dollar. Especially after the cbn policy announced on Friday regarding caps on cash deposits. My question was what will aboki do with the cash which has expiry date considering they might have exhausted their 50m monthly deposit. Based on that, the sudden rush by naira hoarders to change money in the black market will be curtailed, reducing pressure on the naira. Most abokis will rather take bank transfers to sell forex to you.
Again, our oil production has stated to improve, thanks to Tompolo. First time in some months we hit 1m barrels per day. This means slightly more dollar income.

14 Likes 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by chris51(f): 12:59pm 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


Don't be in a hurry. Be watching. Anytime it goes up, sell off.
Good luck.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by VlamesIffect(f): 12:59pm 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

grin grin i know that feeling. It's still better you hold till December i mean worst case scenario it maintains this rate till then. Or if the money usage is a matter of urgency sell and count your loss.

As much as we hope, we can't predict tomorrow.

Next time when you want to buy make sure you plan for this thing by investing in a fixed income something. It will hedge the exchange rate risk.

Let's say 1$ = NGN 750 Calculate the risk exchange up to $1 = NGN 1000

the difference of NGN 250 use it invest in a fixed income. So of dollar rises you still make money. if it sells the fixed income profit will help you balance the loss in value.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Seankhalifa: 12:59pm On Nov 11, 2022
Mine pi for free una no hear... I feel ur pain... sorry man
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by chris51(f): 1:00pm On Nov 11, 2022
chris51:



Don't be in a hurry. Be watching. Anytime it goes up, sell off.
Good luck.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by 9jii(m): 1:01pm 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
Just have it in mind naira will strengthen and the price will come down when Dangote refinery starts working.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Joniww(m): 1:01pm 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
yes cause u don't know when to buy. U don't just jump buy USDt cause u want to save in dollars.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by MrTed(m): 1:02pm On Nov 11, 2022
Stake your USDT on the same binance for 1 month and see the interest you'll yield on 19000 usd.
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

4 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Frezhkid10(m): 1:03pm 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
Guy chill..after a rapid appreciation comes a depreciation…just relax

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Namdosky(m): 1:03pm On Nov 11, 2022
Remember my 12k vitamins kitchen 3rd party higher risk crypto I think the system has been compromised.
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by MrPADDY(m): 1:05pm 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

USD/USDT will always be stronger against Naira. Don't rush to sell off. The recent Naira strength against dollar may just be a flash in the pan.

Also, note that USDT is a stable coin. So your USDT will always be what it is in US dollar. You $19000 will still remain so. If you want to move the USDT or other assets into your USD domiciliary bank account, and keep it in US dollar instead of selling the the USDT in Naira, check my signature for contact to guide you.

2 Likes 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by geemd434: 1:05pm 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


Listen to me..... Put your money on bitcoin... And wait for it to appreciate..... Naira will gain against the dollar... That is dollar will fall... Buy bitcoin instead and recover your money..
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by uuzba(m): 1:05pm On Nov 11, 2022
TinubuDeDrugLor:


Wait till after Christmas.

Be patient bro, don't rush to sell and never rush to buy.
Bad people.
You will not go to church.
That dollar will drop very very well. $1=N1.
Nigeria must work tongue tongue

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Adespoke: 1:05pm 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

Well we all made financial mistake in our life,cryptocurrency is very unstable.to gain in cryptocurrency you have to think long time,I would have advice you put in fixed dollar account or better still you buy land which will appreciate no matter the occurrence happening in the world

My name is Onisemo Adewunmi,am a realtor I deal with buying and selling of land,lease general constructor,secondly I strongly advice you fellow MONEYAFRCIA on Instagram they offer insightful tip on investment journey
Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by 5starMan: 1:05pm 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.
Ndo bro, that's crypto world for us...
I have lost a lot from crypto as much as I gained.
It only depends on your level of patience and decisiveness. But I believe that around 15Dec, it will go up to 900 per dollar.

I can help you get a land in any commercial or capital city of Southern Nigeria. They are estate lands managed by our reputable real estate company. It is the best investment you can ever delve into.
On the gig you talked about please can put me through on that? Cos its the main reason re-signed up here.

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Streetdreamx(m): 1:06pm On Nov 11, 2022
Hold till after election.

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (21) (Reply)

MMM Returns With New Strategy / Sergei Mavrodi: MMM Founder Buried In Closed Coffin (pic, Video) / Steps To Owning A Pharmacy In Nigeria

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 92
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.