Bitcoin Forum

I saw this few days ago. It was on Opay. Banks and Fintechs are using these to encourage people to hold their naira to yield daily profit. But this is when the money is fixed and not moved for a year. I saw this message but I know that bitcoin halving is getting nearer and I am expecting bitcoin all-time-high some months after.

https://www.talkimg.com/images/2024/01/06/sFS5l.jpeg   https://www.talkimg.com/images/2024/01/06/sFnU1.jpeg

That text in purple may be misleading, as it is about the withdrawal that you can withdraw at anytime, not the deposit but the profit.

I can not be so foolish to leave bitcoin and hold naira for 15% annual ROI. The funniest thing is that immediately I saw this on OPay, the news I read next was that naira has depreciate in value against dollar. We have no confidence in naira because of inflation and persistent rise in the price of goods and services as a result of naira price declination.

100% security of your funds? Although, it is likely. But is there anything secure like the coin that I have its private key and 100% control of the coins with the keys multisiged on secure devices?

Right now it's only people that are misinformed or uninformed that put their money in fixed deposit just as this, because not only will your money lose value, inflation will eat it up.
Just take a look at dollar today, those that bought dollar of 1k at the rate of 700 naira would now be in profit without even trading the crypto market.
So I advice that if you can't keep your money in BTC expecially this year, then save it in dollar.

Just imagine 15% annual profit? Like how much will you save in a year that will give you a reasonable amount of profits for good one year? Well, this a big joke as even if one wants to save his money for complete one year the percentage is very small instead I use that money and invest in Bitcoin because no matter how long I hodl it will surely bring forth a reasonable amount of profits in it.

Actually no to your question, I no sure say any naira investment dey worth am, so long as say na legit which means the return nor dey high reach even 50 percent for small period of time. I bet you say if to say you put that same amount for the beginning of last year your profit for big pass like that. Like this now, the only reason wey I dey see to keep savings for naira na just because of emergency situations if not, the rest na to use am buy Bitcoin keep for a long time. Because like this, naira no worth to keep for long period of time oo. Wattin bank go give you as interest for keeping your money with Dem for 1 year, you fit get am for Bitcoin for just 1 month.

Na person wey never know Bitcoin we fall for this kind of offer. I rather safe the money in usdt and in one year time the profit will be more than the offer opay is giving. With the naira devaluation that CBN can come up anytime, omo this is not a good one at all. Omo I will safe my money in Bitcoin, opay has tried but they can't get people like me who knows the benefit of investing money in Bitcoin to come and bury my money in their bank for a whole year in the name of 15%. We are wiser than they thought.

To cast all egg for one basket no too good and this option way opay and other micro finance bank they give their customers nah to help them raise money both for them and for their self and people way I only feel say suppose they use that option nah those people way prefer to still get money for their account even if them no wan use am do anything, so if u be type way they like save for account even if you get crypto investment then eh fit be the right thing for the person to do.

But eh no good to hold large amount for their, currently now self even if you no hold bitcoin to buy fiat like dollar and error and they hold am for foreign account alone they more profiting pass all this saving and earn something way bank they do which at the end of the day the person go withdraw the purchasing power for the money don drop to Watin him no be compare to as of when him deposit am.

Boss you will not blame them,  just blame it on the lack of information in our micro economy,  because as fixed assets in a bank,  the number of annual profits should be relatively higher than 50% in all senses,  because when you borrow money from the bank,  you are charged almost close to that percentage plus payment of cumulative interest on the interest of the initial capital,  so if the commercial banks and the security and exchange commission should have an asset evaluation,  we are sure that Nigerians have been overcharged and underpaid in terms of interest on both assets and liability.

I don't keep money in banks,  I hold Bitcoin and at most hold a few USDTs if need be,  so for sure only those who lack financial intelligence will stock up their money in the bank,  and worst set go as far as fixing that money,  bad bad bad for me I can take that route for whatever price,  be it safety or fear of volatility.

I guess the only people who will go for this are those who don't know about bitcoin halving or bitcoin investment which in a nutshell I think almost every youth knows now and I will still wonder why they will opt for this especially now, when there is a surety for greater ROI in bitcoin than any of such investment especially now when naira is depreciating and I don't think any positive change would occur against dollar now or till the end of the year.

Total surety of your funds is found in bitcoin and being able to keep your keys and wallet safe is better than any funds saving services.