Greetings!
I had a very uncommon experience two weeks ago when BTC hit $100k. I was seated in my workspace, glancing through my phone to come up with something to write, and suddenly, the woman in the next shop walked in, shifted a plastic chair close to me, and sat very near. I thought she was up for her usual gist that she often brings to me, even when I’m not interested in listening.
The next thing I heard was, “Kingsley, you’re not treating me fairly. How can something like this be going on, and you didn’t bother to let me know?”
Upon hearing that, I was taken aback because she said it with such seriousness. I couldn’t figure out what she meant or where she was heading with it.
“What do you mean? Tell me what I have not done,” I asked, and she adjusted her chair even closer.
“My friend made 1 million naira from crypto, and she invested only a little amount. Why didn’t you let me know that crypto is going to pay?”
I burst into laughter because of how amateurish she appeared saying that. She doesn’t know anything about crypto, probably doesn’t even know if there’s a difference between "BTC" and "Bitcoin." She just heard that her friend made money from a crypto investment and suddenly felt like investing too.
I settled down and began to explain the basics of investment to her. I also pointed out that her friend making such money within a short period of time meant she was lucky with her timing, and of course, someone must have guided her into investing. I was certain her friend—a lady in our city with children—do not know much about crypto either...she must have been guided by a pro.
She went on to beg me to introduce her to crypto since I know a bit about it. I laughed again and told her that I don’t know even 5% of crypto charts. Of course, she wanted to know which coin to invest in that would rise within months.
I calmed her down and explained the basics of such investments, especially the risks involved. However, she didn’t seem to take my cautions seriously. She insisted I must help her do the trading and withdraw the money when it had increased significantly. In other words, she wanted to transfer the money to me so I could help her buy the coin (invest) through my account, and then, whenever the value increased, I’d withdraw it and give her both the profit and the capital.
There wasn’t really an issue with that since she trusts me—we’re more like family—but I wasn’t ready to deal with the explanations later if the money depreciated and she couldn’t wait for it to rise again.
I told her to send the money whenever she was free, and she said I should remind her in the evening when she got home. Meanwhile, I wasn’t just ready, so I didn’t bother to remind her.
Fortunately for me, she came again after three days with a changed mind, especially about the possible waiting period needed for her investment to yield profits. She told me she could invest the money in her business instead and get something out of it within a few months.
I was glad because I wasn’t ready to be anyone’s financial advisor, especially for someone who knows nothing about crypto.
Thanks for reading.
Photo source: Screenshot from My binance account
