Dollar value in the Crypto market and how this affect Crypto value and Naira.

*Good morning Crypto Nerds*: Let's talk about dollar value in the Crypto market and how this affect things and Crypto value.

Let's say you buy 1000 Notcoins for $0.0166 this morning and the exchange rate of Dollars to Naira is at ₦1500.

That's roughly $16.6 which is equivalent to ₦24,900

Assuming Naira perform better this week and the price of dollars falls to ₦700 to $1

That means

The value of your 1000 Notcoin which you bought for ₦24,900 will become 

16.6 X 700 = *₦11,620*

You realise that even though you have 1000 Notcoin, the value of the Notcoin has reduced drastically and you are at a loss.

This doesn't mean you traded in loss, but because the value of dollar has reduced, so it therefore means that the value of your investment or portfolio has also reduced.

In summary, Nigeria is bad, Nigeria is bad, the dollar is too high, but don't you ever think that everyone is praying for the dollar to get lower and the Naira to go higher.

Also, not everyone in Nigeria is also praying for the dollar to crash. Your prayer points mostly come from your own point of concern.

If you are not making money in dollar, you won't understand this explanation I just did, but wait till you start making money in dollar or any other hard currency and you will understand that while you are in church praying for the dollar to fall, another man is in thesame church begging God for the dollar to rise.

So if you are God and both people are your faithful servant and child, who will you answer?

That's why it is important not to jump into a hasty conclusion and not to judge each other but in everything, commit your ways to God and in everything give thanks because there is time for everything under the sun and your own time will come, be patient and have faith in God. 

Buy any coin you want to buy at any time you choose to. 

It's always good to buy when it's low, but note that when it's low for you, it's high for another person and when it's high for you another person consider it low.

So just come in when you have any amount to invest and forget about market speculation or whatever because there will never be a perfect time to come into the Crypto market.

Nigeria go beta, but invest in Crypto, contact me for your Crypto investment, I am your surest Crypto plug 🔌 ✍️

Sincerely,

Joseph Bankole.

Crypto Nerd Admin🤓