Let’s talk about Cryptocurrency like you have known me since birth so you can understand it in one post friend…
I had always known that Cryptocurrency is something that needs a deeper explanation than what I have done here on wapreals for most Nigerians to understand. In fact, I don’t think I have any post explaining cryptocurrency. I only have something on Bitcoins, maybe a lot of posts on Bitcoins and that have given me the impression that people are following until… Until it became clear to me that I haven’t really explained everything properly!
Here I am, just waking up and finished saying my prayers yet I haven’t been able to figure out the very best way to explain cryptocurrency to fellow Nigerians who have little idea about what it is. Of course, I can go to any dictionary and pull out the definition for all but that’s now working right?
Besides, I want you to understand this very well because If you don’t you will probably not make the right decision which is of course – investing in Cryptocurrency!
So, let’s do it this way buddy… You wanna understand cryptocurrency as an Investor and am going to speak our language to you! Yea, the language that all Nigerians will surely understand…
As it stands eh, there’s nothing, absolutely nothing difficult about cryptocurrency except for those that are coming from the ponzi schemes world which will make up the most part of what will be reading this post because they have been made to Believe that online investment is all about – RUSH IN THERE AND GRAB THE MONEY LET’S RUN AWAY!
if you have such mindset, you better repent for the kingdom of Crypto is not like what you have in the Ponzi world.
However, Cryptocurrency can be defined in this way… A story will do much better
Some years ago, some guy who calls himself Satoshi Nakamoto… Don’t ask me if he’s a human being Because I doubt if that guy breathes like we do…. He decided that it was time the Internet had its own money which is controlled by those using it and not rely on the government or anyone to make movement of money possible. So, he created Bitcoin to give Internet users that power and since then, we Internet users have our own way of giving each other money irrespective of locations on earth by sending Bitcoins to one another and the Government has no business with this although they have always fought and lost and will keep doing the same UNTIL THEY GET TIRED.
Mark some things here.
This guy, satoshi Nakamoto is a Ghost – yes, the person that started Bitcoins is no where to be found.
Bitcoin is money – the real money just like Gold although it’s man-made.
Government don’t like Bitcoins – of course, they won’t like a money they can’t control. Same way they don’t want you making gold which is the number 1 money (as YOU WERE GLADLY NOT TAUGHT IN SCHOOL) OR printing money, they also don’t want you to have Bitcoins and if you care to ask why… It’s simple… Whoever has the money has the power to manipulate and it becomes easier for the Government to manipulate everyone and print as much money as they want with their Central Banks.
Hey, hold it there.. Which one is this story about banks and governments?
Alright, am so sorry but at least you needed to understand one of the reasons Bitcoins is in existence! Bitcoins wants to give the power to make/mine/print money to people… It doesn’t want it in the hands of the Government anymore and I know that “GOVERNMENT WON’T TEACH YOU THE ADVANTAGES OF CENTRAL BANK PRINTING MONEY AS MUCH AS THEY LIKE IN SCHOOL” because they haven’t been able to tell us any truth about money ever before. Not to cry though… Let’s keep talking about cryptocurrency…
Obviously, Bitcoin is entangled with Government, EVERY GOVERNMENT IN THE WORLD because it removes the ability to manipulate money and print as much as they like from their hands… It doesn’t give this evil power to the people but It creates a means by which people can have the real money “which has to be be limited in supply” and it has given this new found money… Not to the government which will corrupt it but to me and you… Those who will be using it!
SINCE THAT DAY, THE GOVERNMENT HAVE BEEN IN FEAR OF WHEN BITCOIN WILL FINALLY SURFACE FULL TIME
Now, all this story about FG is not to get you scared but for you to understand that each time you purchase some of these Internet currency, you are losing your assets in naira or dollars and putting them in Internet money which is of course interchangeable but a time will come when PEOPLE WILL JUST GET TIRED OF CHANGING FORTH AND BACK THEIR MONEY.. THEN THEY WILL CHOSE TO STICK WITH ONE… I DON’T NEED TO TELL. YOU WHICH ONE IT’S GONNA BE.
Now that you understand that…
-> Bitcoin is Money
-> What it’s come to do and it’s very nature., let’s see about Cryptocurrencies in general!
Now, you understand Bitcoins, congratulations, you have equally understood Cryptocurrency because take Bitcoin to be that extremely smart kid in your secondary school days who will always finish to of the class after exams and other cryptocurrencies as every other person who’s in the class.
Wait… Do you normally finish top of your class? Then you can as well be the Bitcoin of your class! Congratulations!
So,while bitcoin is the first of all the Internet cryptocurrencies to the best of my knowledge that made an impact, there are other ones out there and they are consistently trying to match up with the Bitcoin.
Hey, hey, it’s not a fight.. Bitcoin is not fighting with them.. All of them respect bitcoin so much to fight with it.
That said, there are other guys like Bitcoin on the Internet and just like the wanna-be Vampires, they want to be popular and useful like Bitcoin but they are not entirely finding it very easy to do so. Of course, they are selling themselves to members of the Bitcoin community!
Note: these other cryptocurrencies are what we call Alternative Currencies or ALTCOINS
Now, the reason why these ALTCOINS are attracting people to buy and possibly use them are because of 2 simple things…
1. We know they will grow like Bitcoin… Who no like better thing?
Yes, people that know about Bitcoins when it started and bought some of it to store are millionaires now. This is because, just like real money, the value should be rising as the demand rises and vice versa.
Now, if it’s good money, the demand will always keep rising and frequently falling in situations where the demand is not as high as it used to be and that’s what’s been happening to bitcoins!
Let me break it down further…
Before, 1 Bitcoin = less than one dollar, so you can use a dollar to buy bitcoin then.
Yes, it’s that powerful and I just explained why this is the case. That’s just it... The reason why people wanna but these alternative currencies known as altcoins.
They want to buy them before they become very popular so when they become popular, they can make their money back by selling them off or anything like that.
2. They aren’t entirely Fakers, They have their Unique Features and Purposes – Problems they Solve
This is an important one. Most of these cryptocurrencies have a particular purpose they serve so people buy them because of that very problem but ultimately, the important thing is that they are buying it!
Golem Cryptocurrency wants to help people make money with their computer resources(Ram, Processor, Memory, etc.) by renting them out to others who need it momentarily! You can learn about it here => Golem Cryptocurrency Investment Discussion! Rent Out Your Pc Resources & Get Paid!
Sia coin wants to help you rent out the space on your PC and earn money doing so!
Learn more here => Invest In Siacoin Altcoin With Just $1! Peer To Peer File Storage Blockchain Tech Just Like Golem
GameCredits wants to make it easier for people to pay for different things in the games they play and also want to make it easier for people that create games to earn money by making it easier for those that play it to pay.
Some other cryptocurrencies do some other things so ultimately, they all solve their own problems but the important thing is that their value is rising and falling so is your money when you buy them… REMEMBER WHAT I EXPLAINED ABOUT BITCOINS ABOVE. so, it’s just going to keep rising and falling but mostly rising.
Wow! Still reading this?
Uhm am honored to Congratulate you on taking the most ridiculous course ever about Bitcoins and Cryptocurrencies but we around done yet… You can go get some rest or walk around because it’s about to start getting interesting!
We are about to start seeing how you can earn money by joining in this cryptocurrency run… The one place all the banks in the world cannot attack your with their friendly Axes and Machetes, Lols, no be me talk o… Was just referring to the way they treat us like OUR MONEY BELONGS TO THEM SOMETIMES!
So all the Lagos boys and students who have Been reading this from the start, your heart desires are about to be met. Be merry buddy.
Actually, I have a feeling that many of us reading this have been trying to make some money off the cryptocurrency world for a while but hasn’t entirely succeeded.
If that’s the case with you, you don’t have to feel bad at all because, making money from Cryptocurrency is not entirely smooth especially when you do it wrong by following the wrong advice or by being outright foolish & greedy which is what some of us are especially PONZI GUYS.
Aha! Ponzi guys, again this is for you… This is not Ponzi! This is not 1000% in 2 days O. This is real money so don’t expect magic here. Although I must confess that most of the growing coins are performing magic but we are too focused on the big ones to even realize that the other upcoming ones are there most of the time WHICH I DON’T WANT YOU TO BE DOING! DON’T FOCUS ON THE BIG ONES AND NEGLECT THE SMALL ONES BIKO!
Making money with Cryptocurrency and Altcoins
Well, considering I don’t even know what Bitcoin was less than 8 months ago, I might not really be that guy that will give you the one stop solution to making money with Cryptocurrency! And here’s the bad news -> NOONE HAS ANY ONE STOP SOLUTION so don’t go waste your time seeking them when they don’t exist.. Yes, those crazy AUTOMATIC TRADING MACHINES THAT YOU PURCHASE FOR THOUSANDS OF DOLLARS AND SET UP ON YOUR PC TO MAKE MONEY FOR YOU… YOU CAN GO AND TRY THEM BUT I ASSURE YOU, AFTER MONTHS, YOU’LL COME BACK IF YOU WEREN’T KICKED HARD ENOUGH ON THE BUTT TO LEAVE THE CRYPTO WORLD TO READ THIS =>
But no, don’t let someone do it for you!
And this is why.. You will miss all the damn fun of studying these things and making money yourself! Phew.. You dare not buddy.
Am coming… NEPA don take light!