The current falling of Cryptocurrencies’ value has now hits a Nigerian trader very hard. In the early hours of today, a lot of those who invested in the internet stock were lamenting the rate at which the value of the currencies are falling by the day. Some of these traders revealed that, the price has gone down by more than 50 percent.
Reacting to a Twitter user’s advice to his followers not to ever borrow money to invest in the Crypto trading but should only invest an amount of money they can afford, another user of the social media known as Ayim took to the comment section of the tweet and narrated his ordeal.
According to Yimzy in his explanation, he is currently losing 290,000.00 naira to the falling of the Cryptocurrencies’ value. The painful part of his story is not in the value being lost, but the source of the money invested in the unofficial investment.
In his explanation, the money invested in the business was a loan he took some weeks ago with promised to pay over a hundred thousand naira as interest within two months.
I just checked my Binance account (Cristo wallet account) and what I can see there is only 210k, please, I need help, Yimzy submitted. Check out the tweet from the investor below:
In reaction, a lot of people commented on the tweet. Many of those who reacted to the explanation advised him not to sell off the investment, adding that, value of Cryptocurrencies may soon go up, and when this happened, his current loss will be covered.
If you are in his shoes, what will you do at this point? Will you sell off the currency, add another money in order to pay off the debt or waiting for the value to go up as advised?
Hit the comment box provided below for further discussion on this all important issue. Thanks for your time!