Thursday 18 April 2024


Many people in Nigeria heard that players in crypto business are making so much money and they want to have their own share of #cryptocurrency wealth. This development has precipitated a seismic rush into the business without adequate preparation.
Some people are even going to the level of giving people money to get crypto wallets for them, have access to the private key, buy cryptocurrencies and sell for them to make profit.
All the people who did this got their fingers burnt. Consequently, they call crypto business an organized scam. In crypto business, privacy and security are paramount and no one is supposed to have your crypto wallet private key.
Otherwise, one day,, you will wake up and realize that all your favorite cryptocurrencies stored in your wallet have been transferred to someone else's wallet whose owner is very difficult to trace, in view of the anonymity of all crypto transactions. It can be likened to giving someone your ATM card and pin.
Some people think that crypto business is something you can master in a day. You cannot even master it within a month of daily training. There are many training centres for it. As you are being trained, you need an experienced crypto trader who will guide you.
Ensure that you create a crypto wallet and register by yourself and keep the private key where only you can access it. I always recommend saving it in your email inbox.
The secret of making money from crypto business is knowing the best time to buy a cryptocurrency and also knowing the best time to sell it to maximize your profit. It requires continuous research.
If you are the type of person who doesn't like reading and interpreting charts, crypto business is not for you. You must crate time for research. Knowing the best wallet and exchange to use are also crucial. All trading and swapping of cryptocurrencies must be done by you.
If you do not contemporarily have money to invest in buying cryptocurrencies that you will sell later to make profit, you cannot start, unless you want to join the airdrop hunters.
Also note that you will only invest an amount of money you are capable of losing. The crypto market is very volatile and anything can happen anytime. A common tweet by Elon Musk is capable of making the price of a cryptocurrency to either snowball astronomically or nosedive to the lowest level.
So, do not rush into it. Learning it is a gradual process.

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