As the unemployment rate remained unabated, a set of enterprising Nigerians are looking for other ways to earn legitimately. One of those few people is Akinremi Oluwadamilola Oluwaseun, a graduate of the University of Ilorin earning his living through cryptocurrency. In this interview, he talks about his journey into this legitimate online business and how Nigerian youths can attain a sustainable financial dream through cryptocurrency.
Tell us about yourself.
My name is Akinremi Oluwadamilola Oluwaseun, I am a graduate of Statistics from the prestigious University of Ilorin, Kwara State.
How did you venture into cryptocurrency?
My venture into the cryptocurrency world which birth the brand name MY ECURRENCY was a result of a hard lesson learnt. Being an entrepreneur has always been a passion I grew up with, right from the school days I had ventured into different SME’s as well as investment schemes just as a student to keep my head afloat and occupied.
I paid for bitcoin to be credited to my wallet only to be scammed by an online ripper. Ever since then I made up my mind to learn the ropes and start up a transparency cryptocurrency brand in which people will be able to TRADE WITH EASE and also enjoy painless transactions. This in turn opened my eyes to the yet untapped opportunity in the trading of unused gift cards.
What are the challenges?
One of the major challenges faced is a layman on hearing bitcoin or any other related altcoin concludes it’s a scam business and scares him away.
How does cryptocurrency works?
I always mention bitcoin is money, just like the generally acceptable paper currency, bitcoins are a digital asset. As paper money is an item acceptable for payment for goods and services so likewise is bitcoin. Are we then going to say money is a scam!
Is bitcoin legal? A lot of people do have this mentality that bitcoin is for the so-called “Yahoo boys”.
In a simple term, bitcoin is simply money, gift cards are money. They are all acceptable for different payments of goods and services. iTunes card for the Apple Store, Amazon cards for the Amazon store and the list goes on. They are all acceptable tender and can be exchanged also to the generally known paper currency, that what My Ecurrency stands for. You need your bitcoin or gift cards converted to CASH. Trade with ease with us.
Some people think that a 10 million per cent increase in the value of an asset within 10 years is a bit excessive, therefore Bitcoin must be a bubble that will soon burst. We need you to enlighten us on bitcoin as a whole?
If money is not a bubble that will soon burst, likewise bitcoin is no bubble. Many people are tapping into the outstanding opportunities that lie waiting in the crypto world.
Obviously, cryptocurrency is not risk-free, what are the risks one can be exposed to and how do you overcome these risks?
There really is no business that doesn’t have an element of risk, what differentiates a seasoned investor from a mediocre is proper risk management. In the cryptocurrency investment market just like any other financial market, there are risks of profit loss as well as a capital loss.
A wise individual will know not to invest what you cannot afford to lose. Buy at the right time and sell at the right time. Though My Ecurrency isn’t an investment platform, all we focus on is exchanging.
Could you give us an insight into how much you have made from this business?
As for an insight into how much I have made from this business, I’d simply say well enough.
Are you willing to share your knowledge with other youths who are interested in following this same path?
Many youths are already treading the path of crypto trading and exchanging and for those that are aspiring to join the network. My advice will be if there is anything needed to learn and understand pretty well before jumping in. That will be proper RISK MANAGEMENT. The ocean is so big for different fishes to swim comfortably well.