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As A Young Nigerian You Need To Be Financially Smart (Take A Step And Buy Hive)

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Some of you have noticed that Nigerian youths are beginning to make use of the cryptocurrency even more than some developed country. This is because when you live under tough financial economic conditions, being financially smart is the only way to survive and stay steps ahead the economy. One of those financial smart decisions is to never save your money or asset in Naira. If you are in doubt look at what happened to the Venezuelan currency.
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Inflation is happening in the country everyday, and citizens are always adapting. Those who didn’t save their money in dollars or receiving their salary in Naira are sadly getting poorer day by day. To survive in Nigeria while being smart, you need to recognize the harsh realities we are facing in this country. These harsh realities are extremely obvious and not hidden.

  • There is no job in the country, in fact for the past 10 years I have been hearing that. Every president that has campaigned and won used “providing jobs and opportunities” as one of their agendas and the moment they got in to power, they forgot that promise. The president of the country came on national TV to threaten the youths to behave(stop Endsars protest) if they want job. Then later said there was no job in the country.
  • Always remember that the current president, who has been in power for 6 years has wrecked the country’s economy and he has 2 more years. Think of the economical havoc that has happened in this period and think of what may happen in the next 2 years. Imagine the value of naira in the next 2 years before he leaves power. Think of that before you plan to leave your money in Naira.
  • This last reality is the sad truth reality. The government doesn’t care about you. That is the sad truth, they are greedy and only think of theirselves and their families.

So if you would like to lose the value of your money, saving it in Naira is the easiest way to do so.

As a Nigerian leaving in Nigeria and experiencing the effect of inflation in our daily living, I would advice you to save your money in USD or in crypto. I do save the money I want to spend in USD(in the form of a stable coin) but money I want to save, I save it in crypto. This is because of the volatility of cryptocurrency. It’s not advisable to save money you want to use urgently in crypto, if you do so you are gambling. If you want to use $50 in 2 days time and you buy a coin hoping in 2 days time you would have $55 or $60, then you are gambling. This is because in that 2 days time, there is a probability that your money will increase, there is also a probability that your money will decrease.

Recently I have been powering up and decided not to power down till Hive gets to $30. I’m trying to preserve the value of my asset, and I don’t want to use the money urgently right now.

Being financially wise as a young Nigerian youth, entails not saving in Naira and also not buying any crypto coin you come across because you want to feel smart. Before you buy any coin, do a thorough research on your own.

Look for cryptocurrency that provides a good sense of utility with the potential of flourishing for a very long time. If you use your hard-earned money to buy a shitcoin because you think you are being financially smart, always remember that speculation-based coin can and will always fade away.

For instance lots of people invested their hard-earned money buying Shitcoins like Safemoon, moonrat, catecoin and so forth, hodling and hoping that the coin will make them millionaires. Those coins have no utilities and they were just hype Shitcoins. The value of those coins are either stagnant or down so bad. Some of these coins, their developers don’t know what else to do with the coin projects because no utility was created for these coins.

As a young Nigerian not giving you a financial advice, am saving my money in Hive, and I will keep saving in Hive till forever. This is because, Hive has utility that will flourish in the long run. Do the needful, if you are a Nigerian on Hive that after getting your rewards, you are quick to power down, withdraw it and convert to Naira, you are not doing the right thing. And if you are a Nigerian, not on Hive, and reading my post for the first time,then you have come to the right place.

Click here to know more about Hive and join Hive.

Remember this is Not a Financial Advise

Posted Using LeoFinance Beta