Crypto Gist: Brian’s Journey From Debts To Wealth

Crypto Gist is a series that highlights the stories of real people around Africa around cryptocurrencies. Our guests share their crypto experiences - intro to crypto, wins, scams, losses and lessons. Would you like to tell your story? Don’t hesitate. Fill out this form to share your story.

Hi there, can we meet you?

I’m Brian from Nigeria.

Welcome Brian! We're thrilled to have you. If you could sum up your crypto journey in just one word, what would it be?

Super amazing!

Terrific. Your enthusiasm is contagious. When did you first make your dive into crypto?

About 3 years ago, I was thinking of an industrious way to make money and crypto was one of the opportunities I considered.

So, how did you get started?

I heard about crypto, or I knew a few of my fellow students who had missed an opportunity to get started in crypto early. They had still invested but didn’t enjoy the fantastic profit margin they could have if they had gotten in early. I wasn’t too keen on crypto then, but I had dived into a 20% ROI investment business initiative. 

You had to invest a minimum of 50,000 naira, and then every month you get 20% ROI on any investment. I was still in my first year of university, and it looked like a great opportunity. I put all my money into the initiative, and for about 6 months, it looked like I had found a steady business initiative. I didn’t pull out any of my money but kept reinvesting my ROI. A couple of months after that, the initiative failed, and I lost not only all my investment but also my savings, which I had poured into it.

The worst part was I had gotten a friend into it, and apparently, he had used his school fees for it. And you know how it is; he felt I was to blame. It was business advice, but I still felt responsible for it. I couldn’t ask my parents for money, so I asked a few friends and was able to scrape some cash for him. Kinda affected our friendship, but we move. So now, I was broke and also in debt, and I didn’t know the way forward. I wasn’t really interested in any craft; it was just school for me and trying to build an investment portfolio. So, I was entirely reliant on my pocket money from my parents.

Anyway, I was at my wit's end but wasn't giving up so easily, which pushed me into crypto. 

Truly sad about your investments. How did your venture into crypto go?

It was tough, very tough. I was sceptical about putting money into another initiative. I played it smart, joined crypto conversations, and started investing little by little. I literally starved myself to pay off debts and poured the money into crypto. I didn't invest in the most popular cryptocurrencies but kept an eye on the smaller ones, researching and investing strategically. It wasn't everyone's cup of tea, but it worked for me.

Did it pay off?
Eventually, but it wasn't easy. My parents complained about me spending all my money on investments, losing weight, and spending too much time on the phone. I suffered losses and missed opportunities, but it was all a learning experience. Today, I have a flexible income, have achieved my dream of building a diversified portfolio, and I'm careful not to repeat past mistakes. I am careful to invest only a portion of my funds and save the rest in stablecoins. 

Amazing! What would be your recommendation to crypto newbies?

I think it's crucial to find what works for you. The crypto space is diverse, with several opportunities. I have friends investing in NFTs making their way, and others have their focus. Take time to assess your risk orientation and learn about the field, which will eventually help you. Also, it's never instant, so don't crumble under the fear of missing out.

That’s invaluable advice, Brian. Thank you for your time. 

My pleasure. 

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