₦airaland Forum

OpenHeaven2019:
You want to sell abi.

The market is unforgiving, it would keep teaching you same lessons until you learn.

If you are like me and don’t like seeing red on your portfolio then stop buying green koins, reasons I’m not buying Doge or XLM, I should have bought then yesterday, now that they are green I’m not buying.

Look for bleeding koins and buy.

Btw last chance to buy OGN before the train leaves the station and you would now be buying when it’s green.

Good trading plan...
But then, there are some greens worth aping into (not referring to xlm), moreso if it's confirmed the breakout level and still around it. I see it like getting attachment on marcoplolo bus

Ojemedad:
Should we dive in now?

Diver
No let whale chop you ooo...


Finally you're the one to decide... But it's time you pity your portfolio and relax. That said, the potential upside is big. Moreso if it clears the 0.45 area...

XLM calling my name.... hehehe
It sure took its time and frustrated me a bit.... I need a good run to pacify me

Folks relax. No need to FOMO

betece has broken ATH
Eith has broken ATH
Within the next month, I expect most majors to break ATH too.

Aicebaba:
Best way to maximize profit on panic sells on Binance

1. Buy USDT P2P
2. Buy bitcoin (or any other choice crypto) with USDT.

Enjoy.

Good stuff, just checked out the p2p section on binance and the rate is much better for usdt... Currently between 462 and 472...
Seems that's the method I'd be using.

Good stuff, problem solved
We meuve!

Ojemedad:
Omo,. I entered ADA at 20% now they already deepimg 11%,

My head de catch fire

You keep failing same exam... U don reach to repeat class

Atom also becoming uneasy.... Seems it wants to break its chain

Doge has been cooking soup for a while... Hope say you fufu is ready...

P.S.. very very risky trade ooooo

Ojemedad:
Sailor1 ,

Please check on VET if it will be a good dive

Vet like others I listed is a sleeping monster...
When time reach, e go waka... The particular time is what I don't know

You can decide to take a sit and wait...
For now na ADA

REUBEN010:
Sincerely, ADA looks promising. Maybe I'll increase my portfolio in it a bit.

Modified: It has broken through already. Looking forward to the 0.7 level

I prefer sniping stuff before they move or at particular spots nit trying to catch a moving train...

But then, everyone with their pattern

nittly:
Ok thanks for reply....
Now what can I do? should I transfer it to my roqq.u wallet or leave it there @lu.no acct?

It does not matter except you want to cash out..

What matters is the eith you have

REUBEN010:
ADA is testing the 0.59 level for the second time. Hopefully, it breaks through

After 0.5, the next major level is 0.7... Only a matter of time


I keps saying... when ADA pumps, it pumps!!! I dont wean wicky pumps and dump

Same with XLM, Zil, Theta and Link... Its always worth snipping their pumps.. Your portfolio will thank you. Mine is smiling at me presently

tempusfugit:
GO FOR IT, ZILLIQA HAS HUGE POTENTIAL DUE TO THE SOLUTION IS BRING TO THE WORLD OF CRYPTOCURRENCY AND VERY GOOD TEAM BEHIND IT

Hehe... forget solution, forget team, forget tech.. aside betece and eith... all the rest exixt for the pump

Hadsty23:
With this thread I found myself, i have been in crypto since 3 years but on just hold. Now I learnt more. God bless ya'll

Welcome here... nice words.. good to know

ThisisIkemefuna:
Like this post if you think that this NL crypto community should have a WhatsApp cr.ypto community that offers escrow buy.ing and sellin.g of b1tcoyn..

We will verify the escrow and post iD and address of the individual for authentication.

Though I did not subscribe to groups initially, but this may be a sensible idea for a P2P community... But lets hold on and see how thing go over the next week.

Water will always find its level

nittly:
hello folks!!!! please what going on about the lu.no app my eth.erum keep decreasing but on my roqq.u app it still intact it's doesn't decrease, even the rate are highly different...... what could be the cause?

The exchange rate on Luno is dropping

kolagbemi:
God bless you. I will check Zil and theta. thanks

Don't jump in unnecessarily...and be patient too

Congrats guys.... In just a lil over a month, we hit over 100 pages on the first Nairaland crypt0 thread the m0ds allowed to stand..

What's better is that most discussions were sensible and stuff people found helpful

This has rivalled other investment threads here.

Irrespective of what CBN says, WE MEUVE!!!

Rilwayne001:


What other route now?

I panicked yesterday after the memo came out and removed all my funds.

Not nice... P2P i guess

Why did CBN release such on a Friday sef. Maybe so they can guage response over the weekend.
The backlash on this has been huge though

OpenHeaven2019:
Thank you for this.

I don’t know technicals like you so Abeg wetin be the TA and FA for LIT.

It just broke selling pressure (resistance) at $7.

I checked it up and lit jas been traded on binance for just 4 days and can't find it traded elsewhere... Hehehe

There's no TA that'd work on this.
Best is to ride it and take profits alond the way. This is definitely an entry pump... It can go much higher but the fall will be dramatic.

On the hourly chart, its put in a bearish candle (2) which would push prices down for a while.. Though the 4hr candle (which supercedes) is not as bad.
Also, the latest push up has been on lesser buying pressure which is bearish.

That said its a new coin and this is likely a PnD. It can keep pumping even when technicals point otherwise
It'd reverse when whales decide to dump. I'd play it simple, if it can bounce on 7 and take out 10, I'd target 14.5 for take profit and close the rest at 19.

As we saw with the 10 level, most folks target that area to sell and can be frontran by smatter obes a lil below (9.5 in this case)

emmanuelewumi:
Maybe the average Nigerian gamble has lost hope on the Nigeria Stock Exchange. I can tell you that 80% of my income comes from the stock market for the past 4 years.

Companies on NSE pay over N1 Trillion per annum as corporate taxes, PAYE, withholding taxes, dues, levies, duties etc.

Part of the retirement savings of over 10 million workers are invested on NSE, more 80% of the top 1000 richest Nigerians have at least 25% of their networth on NSE, more than 1 million retirees are having a great retirement due to NSE, companies on NSE paid a total dividend of over N500 billion in 2020 during the lockdown.

If you are looking for fast money NSE is not for you

The averege investor is not a gambler perse. It's the traders that are. We have manipulation and greedy folks in every market but a good market should trend up significantly well with time. That's what gives investors confidence.

A good percentage of the networth of of richest Nigerians are on NSE and that'd continue to be the case. Who else are the sharks that benefited from the crash of 07/08 and the continued corruption in the sector? Those same richest Nigerians. Even with all the pension funds in there (due to legal limitations), the performance of the NSE overtime has left alot to be desired. It's simply put been abysmal when compared to others around the world. Those who invested in 07/08 were not looking for quick cash. Alot put in money so they could reap profits in about 10years. We all know how that went.

I own stocks (foreign) and metals. My crypt0 investments have by far easily had the best ROI. Even with the little I know of finance, investing in the NSE today will betray that. If things change tomorrow, then of course I might consider it. As a young man, my whole knowledge of finance would be useless if I dont benefit from the best performing asset of my time.


Finally, I don't want to make this an unnecessary back and forth. We all invest to profit. And my motto has always been of it works for you, stick to it.

emmanuelewumi:
The value of transactions on NSE in Q2 was $130 million during the lockdown. They should have also shared the value of transaction in Q1, Q3 and Q4. People sell their shares for different reasons.

They should have compared the figures with the value of transactions on FMDQ that runs into billions of dollars, after all they trade in currencies and fixed income on FMDQ

That's not the point. This is a sector that has been on ground for just about 4 years and has been largely traded person to person (in Nigeria) until about 12 months ago. That we can even compare it volume to the NSE shows what sorry state the NSE was in. If the NSE had lived up anything close to expectations, its volume should be a tiny fraction irrespective of the pandemic.

The crypt0 market also took its hit with the pandemic. Bitc0in crashed from 8.2k to 4k usd.
Currently bitc0in market cap (worldwide) is about 740 billion usd. Thats much less than some big companies traded on the US stock market.
The worldwide crypt0 market would be very tiny fraction if compared to the US stock market.


My point is the average Nigerian investor has little or no faith in the NSE. What gives people faith in a market is the belief that they can put money in it, go about their lives and get profits after a longer period. i.e the belief that the market will trend up with time. For now, the average Nigerian does not believe that's the case with the NSE and sadly, the NSE has been unable to prove them wrong

Lazyyouth4u:
Anytime CBN strikes like this, some people are gainers while some are losers. The losers will be lamenting about how clueless the Nigerian government is. But the winners will be silently popping champagne and celebrating

In this case, the losers will be the startups.
Folks abroad will still remit money via crypt0.
More folks will become aware and eventually trade crypt0 because of this news.
Folks will still convert their crypt0 assets to cash

Anyone whose owned crypt0 for more that 6 months is not flustered with this. It's annoying in that it may make what was a 5 minute process longer. I.e deposits or withdrawals from an exchange.

The naira appreciated on binance from 480 to 454 (a crypt0 exchange) as people rushed to withdraw overnight. I wish I had naira available to plough in as it's only a matter of time before it creeps back up.

The last distraction I need now is what CBN is saying. I waited 3 years for this part of the cycle and my plan is to maximize my profits. When time comes to withdraw, there'd be ways. Bic0in is currently trading at 40k usd. I wouldn't be surprised if it gets to 50-60k usd in a relatively short time.

I remember saying here sometime in December that etheryum (2nd biggest crypt0 asset) wlll also join bitc0in and accelerate. Then it was around 700usd. Now it's 1700 usd with potentially much more upside left

Ojemedad:
ONT and OGN are draining my portfolio , thinking of counting my loss and sell off

Be patient, so you get good entries that you can sit on

Also, there's a way microcaps are traded in a bull run.

For those that haven't pumped yet so far, you have to think well.. is is that its lagging or is it that it's sh*t

I know micros can go 5x at this stage but allocating your portfolio is also important, know what to allocate to major, mid and micro caps...e get why

Looked up OGN and it's formed a nice bullish bottom and lots of buying volume over the past weeks... Thing is that it's in the middle of no where..
I might get some if it retests dupport at 0.17-0.2 or when it clsims resistance of 0.23-0.26, there's also one at 0.3, 0.4 and high of 0.55.

I doubt it's going to pump all thru without slowing downat some of those resistances areas b4 Ultimately getting to 0.4 at least. That said, in current market conditions stuff moves fast and late pumpers nay pump all through

Ont tells a different but somewhat similar story (chart not included). Id seems more prepped for a move towards 0.8 and 0.1 in the first instance... Though volume is less

tolulope2021:
@jedisco,

Please I just bought eith through P2P trading.and I have been credited with the eith in my P2P account...do I need to move it/transfer to another place for it to grow or what is the advantage/ disadvantages of leaving it there....

I'm not conversant with bi.n.ace...only on luno and bundle before CBN palava...

Please shed more light.. thanks

Sensible...hope you took advantage of the exit rush to get it at a cheaper price?

What you do next depends on your plan.
You can transfer it to your spot wallet. There you can sell into dollar stable coins or onther crypt0 assets..
Theres nothing to do to make it grow. As afar ar you own it, if it rises in price, yours will be worth more in Naira, if it falls, yours will be worth less in naira. Take it like buying gold or stocks.

clems88:
my brother i also foolishly bought that yeye doge when i thought it was gonna get higher till now no show. God know i go leave leave am there till e rise back even if its till this world end

What percentage of your portfolio is in doge?

As expected, betece rallies quickly and alyts suffer.

I just hope it ranges for a while before taking 42k so alyts can catch up.... Acceleration above that may kill alts again

hustla:
All you have said will make sense in a country that has sense

Nigerian leaders have a thing for senseless decisions and i believe they will enforce this one too

I mean look at the Gokada ban, bikemen are back on the streets of Lagos now

Finally... it's why were in a sorry state..

It wouldn't change much as folks will use alternative means they had been using.
Those that'd be affected are the upcoming Nigerian start-up in the sector.
One that comes to mind is Bundle Africa who is owned by a young Nigerian. Less than a year they started. They processed 85 million usd with 127k users in 2020 and have already surpassed 2020 revenue in January 2021. They had just launched in Ghana.
https://bitcoinke.io/2021/02/bundle-africa-in-2020/

It's stuff like this the Nigerian government sees and kills. Tomorrow, we'd be begging JackD or Mark Z for aid.

The country is just a mess

Obviously, usdt has fallen against ngn since that announcement. Now 455

I wish I had ngn on binance. I'd have just bough usdt at these rates or lower and wait for the bounce back to its market value

Akinola2345:
Yes I believe going $100...even surpass

It might surpass eventually but if I'm in it, id be taking profits b4 100 and see how it deals with that level

Activist001:
It looks like he lost his savings on DOGE. Lmao.

The gambler bought high and sold low.... Whales do am something.

This space has a way of teaching such folks a quick lesson

thebosstrevor1:
Dont ever listen to anyone telling you to send the money in crypt0 especially betc and eith, you will lose because of volatility and also network fees.

Convinced the sender to send your cash through worldremit cash pickup, you will get your exact figure...go to any bank supporting cash pick up from world remit, get your money and go to aboki to change your dollar for 464

Good luck

While volatility might be an issue and go both ways, his intention might be to use it to purchase crypt0 and fact is the market is relatively stable most of the time.

Network fees will be covered by tge sender.

If he wants to get the money via crypt0, he can agree on a specific amount with the sender who will send it quickly or tge sender can jist sent 200usdt and he exchanges on an exchange...

But then, with the current circular, it might be better for him to just go via traditional means

hustla:
Piggyvest stopped selling since yesterday..

Seems you have not seen the CBN memo

I've seen the memo and that was a reminder of one they put out years ago. It's the last of my worry as there are and would be multiple ways around it. Furthermore, I doubt it'd be enforced.
The fact that piggyvest introduced that tells alot about where Nigerians are putting their money. I believe once CBN clarifies, they would reinstate it.

Banning bitc0in is not new and becoming stale in the space. China though pursuing their digtal currency, have limitations on crypt0 trading yet 70% of bitc0in is mined in China today.
Western governments have seen it's impossible to ban and are now ensuring taxes are paid and providing more regulation.

Our official foreign remittance has dipped remarkably. Thats partly cos remittance via crypt0 is increasing. Obviously thats less dollar for CBN to round-trip

Funny enough, the memo is already counterproductive.
We've had 3 front-page threads on it since yesterday. When was the last time a crypt0 discussion hit front-page? Folks who didn't care are becoming more interested and are surprised that its really bigger than the NSE
Even Seun is not restricting or banning certain words again.

The government should focus its energies on providing better regulation and ensuring funds are domiciled here