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In truth, there isn't much you can do if your altcoins don't worth anything in your wallet. All you can do is to continue holding it until it can be traded for something of value. If you're lucky and you find someone willing to buy your coins (perhaps they forsee its price going up in future), you can sell to them but then again it's a risk because if the buyer ends up being right, you'd feel stupid for selling to them cheaply.
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When I first heard about zuga coin, I thought it was a joke. Heard it was created by a pastor or priest and every thing just seemed fraudulent about it because it had zero purpose aside from being a fake bitcoin copy. The price only went up because the creator of the coin intentionally manipulated the trading volume so the coin would pump. This has proven to be unsustainable as with the bear market, the creator must have dumped the price and rugpulled.
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I don't think you will encounter many problems with setting up a crypto payment integration for your business. There are already several businesses today with crypto payment alternative set up on their platform. You can go online and research 3rd party companies that can help you with crypto payments integration for your business. The most popular methods of payment would likely be BTC and ETH however, you should consult the payment integration company to confirm if they can allow other crypto payment options.
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Everyone needs to be careful with crypto influencers, especially noobs. But then again, the golden rule of any investment is Do Your Own Research (DYOR). Anybody is free to invest in any coin and they shouldn't blame the influencers because information on these projects is available online. The influencers are only shilling projects because they're paid to do so by the project Devs. We all need to take responsibility for our actions in theal market rather than whine about influencers misleading folks.
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There are several altcoins that are showing promise. If you have enough capital, I would suggest you spread your investment and putting a large percentage of your money in Ethereum. It is low risk and may be low reward but hey, the idea is not to lose your capital. The next altcoin to put money on is SOL. It's gaining momentum right now and projections show it may break its all time high. For me, SOL is medium risk, medium rewards. Then if you have money left to throw away, you can invest in some memes.
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This is good news. Banning it previously was a dumb move in my opinion and I'm sure it was done as a political response to the EndSARS saga back in 2020 by the Buhari administration. However, despite the ban on crypto in Nigeria, many Nigerians were still actively into it including myself. Unfortunately, the police have capitalized on the ban to rob and extort any one found with any crypto apps on their phones. I just hope they inform these officers to stop arresting people for having crypto apps since the ban on crypto has finally been lifted. That said, every one should still be careful out there.
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What I gather from this fuel subsidy removal is that the current government has been finding it difficult to fund their flamboyant lifestyle. So, they need some extra source of income and what better way to do it than to stop paying subsidy? They say the country is broke but the government of the day is not cutting costs in any way. It is you and I, the civilians that will pay to fund the government's wastage. This government is not doing any reasonable thing to alleviate the hardship on its people. I fear we may see a breakdown of law and order before the current tenure is over.
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Indeed the housing sector in Nigeria is really challenging. Despite the inflation, many landlords have gone on to increase the rent. I can't blame them as most of them actually depend on collecting rent as their means of surviving. As a student, the best thing you can do is find a way to make more money while lowering your spending habit. It's hard but that's your best bet to avoid getting homeless. As someone said, there's no point in relying on the government as they have shown time and time again they do not care about the masses and rise in poverty.
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The difference is in terms of stability. Most popular capitalized projects already have a solid foundation and backing by many players in the crypto industry. Some even have other projects built using their blockchain. It's not difficult to see why most investors would rather put their money in popular crypto coins than the newer altcoins. During the bear market when the prices of these capitalized coins go down, the investors are always confident that when the bull run comes back, the price will go back up and possibly attain a new all time high. Same cannot be said for new coins as the risks are many and most of them do not get back up when the prices are up after a bear market.
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Personally, I always stick to this mantra - "high risk, high reward." I've also been in that position where I hold so many altcoins (I still do) and they all lose value during bear markets. The worst ones are those whose team abandon the project altogether. Personally, I have made more money from altcoins than BTC or ETH. But I still believe that both BTC and ETH are more stable for long term investments. However, I still hold some altcoins who, despite their value is low now, the team is still working and some already have their products like Denet for example.
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I keep beating myself for missing out on Doge back then when it was hyped by Elon. Seeing my colleague who are noobs make so much money from Doge made me feel like a clown. It honestly felt like a joke but I stood on my crypto experience and refused to buy the coin again. Yes! I held Doge back in 2017 when I just started my journey into crypto. Used it for some swing trades then held some before I eventually sold all during the 2018/19 bear market. Right now, if I see any trending coin with lots of hype that people are buying, I will ride on it as well be it meme, gamefi, defi, privacy coins or NFTs. Not making the same mistake again!
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I never bought Doge but some people I know closely did. I think you were just unlucky to still hold Doge when the price dipped. Perhaps, you bought when the price was already at the top. I know it must be painful but that's how crypto is. However, Doge remains one of the coins that can pump when the bull market returns. So I would just advice to continue holding and not think too much about it to avoid jumping into depression. I still hold some coins I bought in 2007.
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The truth is there is NO best time or accurate time to take out your investment once you hit profit. If you're the type who always gets their hunches right, then you should stick to what you feel. If your mind tells you that the your trade will still gain more profits, then you keep holding your investment. If you're uncertain about it, then you should probably take out your investment. The key is to avoid losing what you invested so like I said, if your hunches are always right, then follow it.
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You have to be careful, my friend. People will always tell you their wins but never tell you their losses. So, the first thing you should do when someone tells you a certain gem will do 10x, 20x, 100x or more, go out and do your own research on the coin.
What you should probably be looking out for is the team behind the gem. Are they doxxed? What experience do they have in the crypto space? What they're building, is it feasible? Is it marketable? Does it solve a particular need for a large section of people?
These are some of the questions you'll want to ask yourself before apeing into just any token.
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I was at the bank last month to complain about a failed transfer for which I was debited. I do agree, the reasons why one needs to visit banks in Nigeria has reduced over the years. Basic stuff like transferring funds can now be done from the comfort of anywhere you are using your internet-connected phone or PC.
However, if you need physical cash, you still need to enter a bank or make use of its ATMs. And if you require a debit or credit card, you may have to go to the bank as well.
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The most important thing is to make sure the online bank you operate with, such as Palmpay, Opay, etc., is licensed by CBN and NDIC. In terms of convenience, I prefer the online banks as you don't need to stand on queues to be attended to and then there is less issues with "debited but failed transfers" which is very common with conventional banks.
However, there have been recent reports of people getting hacked and all their money wiped from these online bank accounts. So, what I'd advise is you keep only a small amount of money in these online banks for quick transfers and payments but your main funds should remain in the traditional banks.
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