Staying One Step Ahead Inflation

Living in Nigeria makes you a financial survival because of the cost of living and inflation. You have to constantly be smarter than the Nigerian economy, investment is the best way. When I was younger, about 16 years ago, my dad told me about some investment decision he wanted to make, he said this investment is something we are going to benefit from in the future. I was really young and excited to hear what he wanted to say, he said he investing in stocks and it’s expecting the value of the stock to increase in the future. He invested about 5 Million Naira in these Nigerian stocks. This was the year 2007 when 5 Million Naira was worth $41,000.

Unfortunately these were Nigerian stocks, this means that expected dividends come in naira and value is in naira. But the value of these stocks didn’t increase over time, instead they depreciated. So these stock value depreciated and the naira also depreciated. So you are getting losses from both sides when trying to trade with the foreign market. This was a very big lesson for me as it guided me into recognizing the crypto opportunity when I heard about it for the first time. With crypto, as a Nigerian, you are expected to be two steps ahead inflation and cost of living. If my dad invested in a foreign stock 16 years ago, by now he should be worth over $100k depending on the stock performance. Today in naira, $100k is worth 100 Million naira, so technically he has successfully converted 5 Million Naira to 100 Million in 16 years. This is just speculations it could be more.

16 years ago there was no bitcoin, there was no cryptocurrency, but today we have bitcoin and we have cryptocurrency. I have the opportunity of taking the cryptocurrency opportunity, as a Nigerian who lives in a country where inflation occurs rapidly. Crypto not only increases the more dollars I have, but in return helps increase the more naira I should have. This has helped me stay one step ahead inflation.

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