In light of the recent retrogressive actions by CBN. These are the things you should remember before taking any drastic action regarding your treasured crypto currencies.
1. Hodl (Hold On for Dear Life)
Strange as it sounds. Cyptos are quite important to have as investments in this 21st Century. Let nobody deceive you. The world is digital and it can never go back to the stone ages except maybe a worldwide EMP occurs. As such, Technology cannot be stifled nor suffocated, it will continue to progress especially at a rapid pace. Holding onto your cryptos into the near or far future is a safe bet because no matter what happens digital technology will play an important role at the global scale
2. Remember that governments will change.
Buhari's government now doesn't mean it will last forever. Before you sell your cryptos think of the situation where to even buy that same crypto in the future when government and its policy changes will be near impossible for you due to the nominally high rate.
3. Some cryptos are Finite
Like Bitcoin some cryptos are finite. Meaning there will ever be the same amount of currency in circulation unlike Fiat or paper money which can always be printed. And trust me when something is finite. It will always be scarce.
4. Nigeria is not the only country to deal on Crypto.
Dont reduce your mind to your village or city in falsely acknowledging that crypto will have a massive fallout or panic withdrawals like MMM and Ponzi schemes which operated in Nigeria. Cryptos are far bigger than you, me and all of us and thus operates on a World scale.
Except the New World Order desires to take on the decentralized nature of the currency, you have no problem keeping yours.
5. if you're panicky - Take a time to chill observe or simply Remove your funds if your mind is not at peace.
1. Hodl (Hold On for Dear Life)
Strange as it sounds. Cyptos are quite important to have as investments in this 21st Century. Let nobody deceive you. The world is digital and it can never go back to the stone ages except maybe a worldwide EMP occurs. As such, Technology cannot be stifled nor suffocated, it will continue to progress especially at a rapid pace. Holding onto your cryptos into the near or far future is a safe bet because no matter what happens digital technology will play an important role at the global scale
2. Remember that governments will change.
Buhari's government now doesn't mean it will last forever. Before you sell your cryptos think of the situation where to even buy that same crypto in the future when government and its policy changes will be near impossible for you due to the nominally high rate.
3. Some cryptos are Finite
Like Bitcoin some cryptos are finite. Meaning there will ever be the same amount of currency in circulation unlike Fiat or paper money which can always be printed. And trust me when something is finite. It will always be scarce.
4. Nigeria is not the only country to deal on Crypto.
Dont reduce your mind to your village or city in falsely acknowledging that crypto will have a massive fallout or panic withdrawals like MMM and Ponzi schemes which operated in Nigeria. Cryptos are far bigger than you, me and all of us and thus operates on a World scale.
Except the New World Order desires to take on the decentralized nature of the currency, you have no problem keeping yours.
5. if you're panicky - Take a time to chill observe or simply Remove your funds if your mind is not at peace.
