WARNINGS TO LOVERS OF CRYPTO INVESTMENTS: USE YOUR BRAINS
Written By Dr. Joel Ademisoye
Posted By Town Crier News Nigeria
Published By Fitness Network Communications
Hello the Lovers of CRYPTO business worldwide such as in Nigeria. I am on the sidelines of Crypto business and watching the bad business, which is built on the house of decker cards, making the house of finance built by many financial contributors or investors to be an illogical, irrational and mad business people, who thinks they could make millions of money without sowing the seeds, but they are counting on a Big harvesting days or reaping days or pay days. Over the years, I have observed, watched and read the horrible stories of the Crypto business failed or businesses implode or self destruction, because of its in-built destructive tendency such as cheating, the lack of honesty and fraudulent practices by the business platform owners, taking advantage of the ignorant and glue less participants in the crypto trade and plus it is a business house built without a strong financial foundation for its survival in the midst of economic storms. More importantly, it is outside the realm of government control, in many countries like the United States. Thus, it is capable of a quick collapse in the eyes of the financial investors, particularly because of its heavy weight of the absence of institutional structure, management support and numerous participants in the pyramid like busines. A condition that can lead to a chaotic experience as witnessed in the case of the popular FTX Crypto platform, which is already in the process of filling for bankruptcy (Source: CNN report, Sunday, November 13, 2022, 5:15pm). Lastly, Crypto business, for example, in the United States, it is outside the loop of government regulations. Crypto is indeed an unreliable and risky business to get into with your hard earned money (Source: Tory Newmyer, “How a once-alluring crypto empire failed in a week,” The Washington Post, November 13, 2022, PA12.). Put bluntly, crypto business is problematic! It isn’t safe and secured. In a nutshell, investing your hard earned income in a Crypto business is like flushing the money down a toilet.