Dfrenzy:
When evaluating a crypto project, here are some key factors to consider:

1. Whitepaper: A detailed and transparent whitepaper is an essential component of any reputable crypto project. A good whitepaper should explain the project's goals, technical details, development roadmap, and potential use cases.

2. Team: The team behind the project should have relevant experience and a track record of success in the industry. Check the team's LinkedIn profiles, their previous projects, and their reputation in the community.

3. Community and Social Media Presence: Check the project's social media accounts, forums, and other online channels to see how active and engaged the community is. A strong community can indicate a healthy and sustainable project.

4. Partnerships and Collaborations: Look for partnerships with reputable companies and organizations in the industry. Collaborations can bring additional expertise, resources, and credibility to the project.

5. Technology: A good crypto project should have innovative technology that solves a real-world problem or offers unique features. Look for technical details and how the project plans to scale and improve over time.

6. Tokenomics: A sound token economy is important for any crypto project. Check the token distribution, the utility of the token, and the project's plans for managing inflation and supply.

7. Market Opportunity: Consider the project's market opportunity and potential for adoption. A good crypto project should have a clear target market and a strategy for acquiring and retaining users.

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ignis:
When you japa, you will realize that sabificate puts food on the table and not certificate.

Elsueno:


Since majority of guys couldn't resist the urge to shalaye or prove how 'smart' they think they are. D govt is showing how freaking powerful they are. Some keep bragging on twitter, Facebook & be doing 'in ur face to govt, You would learn, lol....after God na govt

iLegendd:
There are only 3 best times to buy a coin

1. When it's not listed on CEX yet and it's not more than 100 Million MC and sometimes, not even more than 5 million MC and it has passed all the rug pull test.

2. When it's in extreme oversold in bear market and you know it's a great coin with a reputable team or big name CEOs or company.

3. When bloodbath happens to every coin in a bull market and there are only 5 green coins, especially stable coins, that are in green in all the coins on Binance Hot, Gainers, and Newly Listed section.

Bonus:

The 4th time to buy is only for those doing day trading and are using TA and news to long or short — professionals only.

Apart from these 4 times, any other time is too risky, but it may be worth it in the end. Afterall, in Heaven or Hell, there is no crypto needed.

It's just money. It's meant to be spent. Not all your money will be spent wisely no matter how stingy, frugal, smart, intelligent or wise you are, so accept losses without feeling like a loser because without it, you'll never have an intriguing relatable story to tell others when you decide to write a book about success and not giving up.

johnfe:


Bro I'll advice you not to buy coins for long term hold on Cex like Binance 'cos those coins have already mooned and achieved ATH- all time highs. Buy low market cap coins on Dex like trustwallet.

Before a coin is listed on standard centralised exchanges like Binance, it must've achieved a certain market cap.

Maybe ask Ilegendd for clarifications

Everlastingson:


Keep your dollar and don't be afraid. The " gain" you see Naira make is cosmetic, it's artificial. It's manipulated by the CBN depleting the nations foreign reserve to prop the Naira. They can't do that for long cuz Nigeria doesn't export anything to get the dollar. Even the volume of the crude oil they export is down due to their own bunkering and crude theft activities, plus they used the crude as futures to collect billions of dollars as loan from Afriexim Bank at diabolical interest rate. Their reserve is almost red now. Forget their APC lies. Keep your dollar coz the Naira will soon become woeful against the dollar again I assure you. But this is an advice. The final decision is yours but I've told you what must happen soon.

For those who blame speculators, ask them whether there are no speculators in other countries where the currency is strong and stable. They think they can propagandize away the root cause of the problem which they know but are keeping quiet and lying about.

IbeOkehie:


Exactly. I read somewhere that Nigeria dollar reserves are down significantly.

I don't know how long it will last, but this uptick in naira isn't sustainable. Because the government isn't making any fundamental changes to the economy. Period.

Dollar was ≈ 200 in 2015 and went all the way to 1900. Let's call it a retracement within a long term trend.

Good Luck to Nigeria

jayce232:

Those that got into cryptto when very few knew about it & wasn't this popular adopted blockchain. Then it was one of the most trusted & reliable, before the likes of trust wallet started becoming famous

jayce232:

It is due to network & do happens occasionally
It will reduce after sometime, but not tomorrow. It usually take sometime

Robnectar:


I need more usdt,.. I just want make she stable for 1k at least before d end of the month,.. is dat too much to ask for

sheanzy:
Can't this dollar just be stable even if e Wan go to 500naira make e dy stable, or if e Wan pump to 2000naira make e remain for one place.


If I dy monitor when to buy crypto asset, I go come dy monitor when to buy dollar

ibizgirl:
This helped me get started.

https://www.nairaland.com/6504311/crypto-total-beginners-guide-how

GbTech:
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Ewizard:


While you busy panic selling and spreading FUD.

“Mr. 100” bought 404 of today’s 900 new Bitcoins Supply. [See image below 👇]

For context:

"Mr. 100" is an unknown entity known for buying 100 Bitcoin every single day since Nov 2, 2022. They now hold 60.600 BTC worth $3.8 Billion ($1.6 Billion in profit) ⚡️

Their Bitcoin Address:
1Ay8vMC7R1UbyCCZRVULMV7iQpHSAbguJP

You can view their trade history on bitinfocharts dot com.

Due to the size of investment, many people speculate this is a nation state buying Bitcoin.

If this continues to happens after 20th April (Halving), there is basically ZERO new bitcoin supply entering the market. 👀

Bitcoin is financial freedom, and they want to take that away from you.

Am beginning to think that the general public is still confused on what a halving is barely 15yrs after Bitcoin whitepaper was released in 2009. 🤦‍♂️

90% of you all are stuck in the short term and can’t see the bigger picture.

Reflect on this tonight:

The year is 2040. (thats 15yrs from now, just like 15yrs before now when BTC was $0.05 has snapped through your fingers and flashed before eyes.)

World population: 8+Billion
Bitcoin supply: 21 million
Bitcoin price: $1m
Whats your chance of owning 0.05btc??

You’re still early, don’t let your kids ask you what you were doing in 2024 when your mates were stacking sats.

LEARN BITCOIN!

Jerryherd:


No but they can download loan apps and use your details to take a loan

Gynn:
I was old enough to know when a Dollar was exchanging for 110 Naira and then 120 under Obasanjo.

Under Jonathan, 1 dollar will fetch you 150, and then 190.

Towards the end of his tenure it rose to 210 Naira.

Buhari came. Dollar became 250, then 320. Next stop was 380.

Early this year 410. Later on 1 dollar became 450, then 480.

As at yesterday when a colleague wanted to change some cash

The Aboki dollars said its 568 Naira per dollar.

But just so we patronize him he will give us at 570 Naira/Dollar.

What this means is simply that Naira is not a good store of value for long term cash

In less than 1 year it lost around 30 percent of its value.

It was after the aboki dollars encounter that it actually rose to my consciousness and I did some calculation

Presently 1 million Naira is currently equal to 1,755 dollars.

Early this year 1 million Naira was equivalent to 2,440 dollars.

In other words if you left 1 million Naira in your Nigerian bank account early this year

You have lost about 700 dollars within January and October.

So I now I decided to look at options to preserve my long term cash.

I won't be leaving any longterm savings lying around in my account just for the bank to give me 0.1 percent interest.

The small ajo (monthly contribution) I am doing presently - from next year it is cancelled.

Unless they find a way for us to be doing it in dollars I will not continue

I must make sure to put that monthly contribution in dollars one way or another

That is what I have promised myself.

And these are my options.

1. Foreign bank account

Having a foreign bank account is my long term goal.

It is not cheap.

And I don't have the kind of money to open or maintain one yet.

But I will get there.

2. Domiciliary account

I honestly don't know much about this.

However, by monday I am walking into the bank so they educate me on the benefits, costs and requirements.

If it is something I fancy, then domiciliary account here we go.

But I am not putting all my eggs inside the basket of a dorm account

Because

from the little I know, governement can assign itself the power to convert all foreign exchange in Dorm accounts into Naira.

Its extreme. But its possible.

It has happened in Argentina before. It can happen in Nigeria.

3. Save in Cryptocurrency and Cryptocurrency dollars (USDT)

I have already started doing this in a small way.

I have small money in USDT and I hope to increase it.

Thanks to my colleague who encouraged me to take Binance and crypto serious

But the issue is, it is easily accessible

because USDT (or electronic dollars as I like to call it) can easily be converted to Naira.

Anyways, more discipline is needed on my part.

Another option is to buy and hold Bitcoin. That is the only Crypto I trust.

Because over a long period of time it has proven to always increased in value.

In this Nigeria one has to be smart with the way he handles his finances.

By next year we will enter the early period of election season.

And historically elections has been the period the Naira falls very fast.

Because of the high demand for dollars during this period.

Anyways, this is my plan.

EXOUSIAng:
With the picture of the front and back of your card
And your phone number.
You account will be emptied in 2hours.
All that is needed is your card details.
Your pin is not needed with the right logs.
No need to clone your number
Na to just hold your line.
Bro let me not talk much abeg...
Most of these people giving advice know next to nothing about pullouts

iLegendd:


Divide in 2 and each of the 2, divide in 3.

Phase 1: $250 out of 500.
Phase 2: $250 again.

I use 2, 3, 5 formula.

20% first buy, then relax and watch for minutes or hours via you alarm. ($50).

30% if it falls from the point you bought. ($75).

50% if it falls further. ($125).

This is only after your research or analysis and the coin is in red or consolidation.

The phase 2 is backup for emergency purchase or money you'll use to rescue your initial investement if the coin is going up and down and the highest it goes is where you bought the 20% spot.

In this case, use the remaining $250 to rescue everything by buying at the bottom and when it rises back to the 20% spot you bought with phase 1 money, you cash out everything and wait till it falls again, then buy with the rescued $250 at the bottom at once and go to bed.

Ewizard:


A lot of people are going to listen to the highlighted above and fall in to this bear trap.

Firstly you must understand that we are in a Bull market.
Bull market progress:36.2% (based on standard Halving Cycles)

Psychologically, it is easier and safer to HODL and DCA into dips with fresh funds than to sell “Some capital” to buy lower in a Pre-Halving / Post Halving Retraces.

Why? If you sell your capital you will be under pressure to find the bottom to get back in or FOMO into any rebound in order not to miss out.

Get fresh funds, identify support areas and place your buy orders. Close your app and go about your business. No pressure!
(Unless you a broke ass mdfvka, then go get a job)

Remember, Paper hands panic sell on red days, and Fomo on green days. Whales Fomo on red days, and dump on paper hands on green days.

Secondly,

There are 4 Phases of The Bitcoin Halving

1. Pre-Halving Rally (Ended)

Usually 60-90days before halving.
48k - 73k

2. Final Pre-Halving Retrace

A Pre-Halving retrace tends to occur a 28 to 14 days before the Halving event itself

In 2016, this Pre-Halving retrace was -38% deep and lasted 3-4 days

In 2020, this Pre-Halving retrace was -20% deep and lasted 56 days (8 weeks)

This phase offer a bargain-buying opportunity in the Pre-Halving period and also form the Range Low of the future Re-Accumulation Range

3. Post Halving Retrace / Re-Accumulation

The beginning of the "Re-Accumulation" phase occurs once the Pre-Halving Retrace has bottomed

In other words, the bottom of the Pre-Halving Retrace historically becomes the bottom of the Re-Accumulation Range

It is possible that Bitcoin is slowly transitioning away from its Pre-Halving Retrace phase into its "Re-Accumulation" phase.

The goal now is for Bitcoin to move sideways going into the Halving and beyond.

The Re-Accumulation phase can last multiple weeks and even up to 150 days (i.e 5 months)

Many investors get shaken-out in this stage due to FUD, disbelief, boredom, impatience, and disappointment with lack of major results in their BTC investment in the immediate aftermath of the Halving

Bitcoin will retrace deep enough to convince you that the Bull Market is over And then it will resume its uptrend.

However, in this cycle it is the very first time that this Re-Accumulation Range is developing around the New All Time High area. (Remember BTC break New ATH first time in history Pre-Halving. The ETF effects)

As a result, this Re-Accumulation Range may simply take the shape of a regular sideways range like we've seen throughout the cycle thus far and may not last very long before additional uptrend continuation

4. Parabolic Uptrend

Once Bitcoin breaks out from the re-accumulation area breakout into the parabolic uptrend.

It is during this phase Bitcoin experiences accelerated growth into a parabolic uptrend

Historically, this phase has lasted just over a year (~385 days) however with a potential Accelerated Cycle occurring right now, this figure may get cut in half in this market cycle.

Finally, if you think Israel/Iran war caused the current market dip, you haven’t learnt Bitcoin enough.

Take home:

1. “Extreme Fear precedes financial opportunity.”[/b]

2. Baron Rothschild made fortune Fomo buying when people panic sold.
His quote;
[i]"Buy when there’s blood in the streets...
But the second part of his quote isn't recited as often
"...even if the blood is your own”

You often have go against yourself to be profitable.

LEARN BITCOIN!

iLegendd:
There are only 3 best times to buy a coin

1. When it's not listed on CEX yet and it's not more than 100 Million MC and sometimes, not even more than 5 million MC and it has passed all the rug pull test.

2. When it's in extreme oversold in bear market and you know it's a great coin with a reputable team or big name CEOs or company.

3. When bloodbath happens to every coin in a bull market and there are only 5 green coins, especially stable coins, that are in green in all the coins on Binance Hot, Gainers, and Newly Listed section.

Bonus:

The 4th time to buy is only for those doing day trading and are using TA and news to long or short — professionals only.

Apart from these 4 times, any other time is too risky, but it may be worth it in the end. Afterall, in Heaven or Hell, there is no crypto needed.

It's just money. It's meant to be spent. Not all your money will be spent wisely no matter how stingy, frugal, smart, intelligent or wise you are, so accept losses without feeling like a loser because without it, you'll never have an intriguing relatable story to tell others when you decide to write a book about success and not giving up.

TrennixGLOBAL:
Prior to threads such as these,

https://www.nairaland.com/8041662/cbn-sells-forex-bdcs-n1251

https://www.nairaland.com/8038990/cbn-policies-paying-off-exchange


The naira has appreciated up to some extent but during the past 2 weeks, i have received buy orders for USD of up to $1million and above including USDT by individuals.

This has kept me wondering what the reason for the buying of huge dollar funds is?

Then the thoughts of this present dollar crash been temporary keeps coming to mind.

Again, there was this thread below which made me knew something must be going on,,

https://www.nairaland.com/8040229/naira-gain-pressure-mounts-fx

Why mount pressure on dollar hoarders to sell?

You don't need to push or coerce someone to let go of something he is holding that it is worthless. Let him see what's happening and he will let go by himself knowing it is useless in the future without being told.
When you try to force the person to let it go at all cost, it gives an indication that it is still useful or you want it or you know the use for it so you want to fool him.


Then i see this thread and my suspicions are beginning to become true,

https://www.nairaland.com/8042891/start-buying-dollars-now-usd

Princeokwuego1:
how can a big guy like him take such a risk.. me wey no get money cant try such risk talk more of a celebrity

Freshtruth:
The boat driver was careless why risk your life on Nigerian film where we no dey watch