Made my first online money in Litecoin, should i hold or sell

Profwriter

Active member
Hello everyone,

It's always exciting to be here and to interact with one another. I'm from Nigeria and recently the government placed a ban on cryptocurrencies which is currently affecting people who earn in cryptocurrency negatively.

I recently got paid from an online site in Litecoin, if it was before the ban, the money would have safely be resting in my Nigerian account but with the ban in place, the money has not be converted to our local currency which is the naira.

I know that the cryptocurrencies world is very volatile and experience sudden change in prices and value, being my first money earned online, I would love to have it converted to my local currency but at the same time, I'm thinking of holding it and see how much it will appreciate.

What's your opinion guys?
 

Ekuvero

Active member
I would advise you hold on a long term basis due to the massive surge in crypto with most cryptocurrency prices going up to 2* its amount example is Aave, though do make your market research yourself so you woukd have an idea of what am talking about, read charts to know the market price though Litecoin isn't as volatile as Bitcoin and Ethereum the price of Litecoin always fluctuate either 1.5% Lower or higher so it isn't as volatile so you might not amass much profit but your money would certainly appreciate
 

Augusta

VIP Contributor
This is a dicey situation because of the ban because without the ban I would have said you should hold it as the price of litecoin is still rising maybe sell it when you deem fit. But all the same still keeps and see how it goes since the Senate are in talks about this ban. Hopefully it might be lifted.and we can invest more
 

Olajidey

Active member
Holding coin for as long as possible is as good as investing in an oil company. Try to hold it but if you have responsibilities to take care of financially you can withdraw it, but if you are not in any financial crisis or have any responsibility to deal with, I will advise you to hold it for a very long time.
 

Georgeadawara

Active member
Today is my first earning in a litecoin the only thing that I look into is that it will good for me to live it there as long as it is in my wallet and at anytime litcoin can shoot which it can still be of benefits for me. So I advised that if you have no need of that money it will be wise pf you to keep it their.
 

greatguy1

Active member
Hello everyone,

It's always exciting to be here and to interact with one another. I'm from Nigeria and recently the government placed a ban on cryptocurrencies which is currently affecting people who earn in cryptocurrency negatively.

I recently got paid from an online site in Litecoin, if it was before the ban, the money would have safely be resting in my Nigerian account but with the ban in place, the money has not be converted to our local currency which is the naira.

I know that the cryptocurrencies world is very volatile and experience sudden change in prices and value, being my first money earned online, I would love to have it converted to my local currency but at the same time, I'm thinking of holding it and see how much it will appreciate.

What's your opinion guys?
hold it if there's no need for you to sell. The coin is expected to have a price increase in the short term coupled with increase in volatility. You are safe with it but I'm more concerned with how to exchange for cash knowing fully well that the ban is still in effect. Its time to hold cryptocurrencies if you can.
 

btaliat

VIP Contributor
My first payment in litecoins as well was converted to bitcoin. And I plan to hold it for some months before I start selling. Cryptocurrencies have high rate of doubled its prices. I knw the money won't be that effective in my bank account. It is either I spend it or it is there doing nothing. So the best is to leave it in my wallet. If I want the coins to sell, I will withdraw on my exchange wallet where I can sell through Peer to peer.
 

Finger Geek

Verified member
Hello everyone,

It's always exciting to be here and to interact with one another. I'm from Nigeria and recently the government placed a ban on cryptocurrencies which is currently affecting people who earn in cryptocurrency negatively.

I recently got paid from an online site in Litecoin, if it was before the ban, the money would have safely be resting in my Nigerian account but with the ban in place, the money has not be converted to our local currency which is the naira.

I know that the cryptocurrencies world is very volatile and experience sudden change in prices and value, being my first money earned online, I would love to have it converted to my local currency but at the same time, I'm thinking of holding it and see how much it will appreciate.

What's your opinion guys?
I would advise you to HODL it for the price to rise up and sell it. I also received a payment to my litcoin address today but I am not planning to hold it. I have withdrew it to may bank account. If you know that you don't need the money badly. You can hold it. But if you know that you want it to your bank account. I can help you.
 

sincerem

VIP Contributor
Their are ways you can cash out your funds into your Nigerian bank account even when the ban is still active with Cryptocurrency in Nigeria. I use binance P2P trading method to cash out my funds immediately to my Nigerian bank account. Their are real buyers over there hoping to secure your coin from you.
 

Lekhraj19

Verified member
I also see many people evolving these days with their earnings in trading in cryptocurrencies here, apart from normal earning sites what we earn. It's nice that you are making good sums of money there, as trading is the field I often wonder to be there. But, the currency factor and the lack of knowledge has always stopped me trying it.
 

Hena101

Active member
Looking at how litecoin is appreciating this days even though is not litecoin alone but almost all the coins we know are appreciating i will advice you not to sell it because it can appreciate to the extent that it can make you a millionaire in some years to come if God leave us alive. But if you have a problem that need to solve and you don't have any other way to solve it you can sell it to solve your problem. But advisably don't sell it.
 

Shigobad2020

Active member
After bitcoin , my second best crypto currency is litecoin , litecoin is also doing good in the market now, but i will advise you to get an exchanger for your litecoin and change it to naira directly because of the situations of the ban that federal government has posted on crypto currency in nigeria.
 

Teatea

Active member
I'd advise you to hold the coin for a while if you don't need the money urgently, with the way crypto currencies are rising these days, it is a wise financial step to hold your coin no matter how little it is. I have some litecoin as well and the profit I've made in just one week is very encouraging and so motivating, I even wish I did not sell some of it.
 
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