₦airaland Forum

I felt it is necessary to make this post. Some people might think that converting your money to USDT will help you sabotage Tinubu's tax policy, yes it is possible if a large number of people do it, ditch the naira and start transacting in USDT directly from their wallets. Tinubu's tax policy will crumble and the Naira and Nigerian economy will go down with it but for this to be successful, it has to be done before January 1, 2026.

But there is a risk you have to be prepared for, if you have been in the crypto space you will know that you can't trust USDT or USDC or any stable coin because at any point in time it can DEPEG. Depegging means losing it 1:1 peg to the USD. It has happened several times, the latest being Terra Luna UST that happened in 2022.
Suddenly one morning investors woke up one money and found that their UST stable coins tokens pegged 1:1 to the USD has lost its peg overnight. For easy understanding, the previous day, 1UST= 1USD
then investors woke to find out that 0.00005UST=0.0008 USD. So 1000USD was now worth 0.0001UST. BASICALLY, all your money just vanished.
So bear in mind the inherent risks involved, there are other numerous risks factors but this is the most important, BEAR IT IN MIND THAT THE STABLE COIN YOU ARE RUNNING TO CAN DEPEG.

Around 2018 I received 1 gram of Gold from Singapore from a project called Digix, backed by the Man himself, Vitaliy Buterin, the company pegged the price of gold to its digix company, despite their strong backing, in about 2yrs the company folded and the DIGIX TOKEN go DEPEGGED and collapsed completely. Be wary of the risks.

I have been in the Financial Technology space for OVER A DECADE, my methods are not known to any individual on the planet, I discovered it myself and will teach you if you can provide me with a reasonable form of incentive. If you decide to try things on your own then I am sorry to inform you, your chances of failure is very high but you can go ahead, there's no harm in trying. Experience is the best teacher. Goodluck.

E go shock some people when they realize they underestimated the impact of USDT and crypto on the Nigerian economy.

ebukal67x:
E go shock some people when they realize they underestimated the impact of USDT and crypto on the Nigerian economy.

Beware of the risks. Read what I wrote.

The digital dollar platforms are already on notice.

HgAkpobomeEr:
The digital dollar platforms are already on notice.

Ok man

This is a useful insight for those who want to explore USDT.

trutharena:
This is a useful insight for those who want to explore USDT.

I don't think you read what I wrote.

This is a great warning to everyone. Thank you for sharing this.

Anither563:
This is a great warning to everyone. Thank you for sharing this.

Uw

Wailers should stop wailing.

Why are they always thinking evil about every good initiative from the government?

Salewa97:
Wailers should stop wailing.

Why are they always thinking evil about every good initiative from the government?

Freedom of thought.

Why would anyone want to sabotage the tax policy of a president that is working tirelessly to stabilize the economy?

odejimioflagos:
Why would anyone want to sabotage the tax policy of a president that is working tirelessly to stabilize the economy?

Freedom to own property

Salewa97:
Wailers should stop wailing.

Why are they always thinking evil about every good initiative from the government?

Aggressive taxation is only meant for countries without natural resources not for ones with abundant natural resources under the control of the government. The natural resources are good as taxation.

We need a digital naira.

ModupeoreMs:
We need a digital naira.

Maybe what we need is a single currency for Africa 🌍

Crypto is the wild west. You never know when the ponzi will end or when the stablecoin will go boom.

ImIfeyinwaWj:
Crypto is the wild west. You never know when the ponzi will end or when the stablecoin will go boom.

There's only one way out.