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I left banking for cryptocurrency, says Crypto tutor Adaora Nwankwo
Speaking further, the decentralised finance analyst said: “For someone like me who has been in the banking sector. I’ve been in Sterling Bank and Union Bank respectively. I don’t like to keep my money in the bank. I like to hold it in USDD because of the gains and other benefits because I understand the market.”
Crypto tutor and stock trader, Adaora Nwankwo, has disclosed the reason why she left the banking sector for cryptocurrency.
In an interview on Vanguard’s Lunch Time on Tuesday, Nwankwo said that as an adventurous person, she found cryptocurrency very interesting and decided to learn about it.
“I was working in the bank before I left. I was determined to know this industry and understand it. So I quit my job when I had my daughter and then I started learning about cryptocurrency,” she said.
Nwankwo, who began her journey in cryptocurrency in 2007, revealed that she lost money initially because she was doing it the wrong way.
According to the decentralised finance (DeFi) analyst, the knowledge gained over the years has helped her make a lot of money also in cryptocurrency.
Explaining how digital money works, Nwankwo said that for a cryptocurrency to have value, it must be backed by utility. A meme coin, for instance, does not have utility.
She explained that cryptocurrencies have seasons which explains the reason for the drop and increase in value at certain times.
Nwankwo revealed that the viral “tap to earn” was an offer some companies used to get more people into the crypto world.
She also criticised Afrobeat musician Davido and comic star Brain Jotter who launched cryptocurrencies but left investors stranded midway.
“That was a very terrible thing they did to the crypto space. Why? Because these people did not even understand anything about crypto. Probably because they think they have influence. The coins they created are called shit coins. They do not hold any value,” she said.
“That thing they did to the crypto space was wrong. It caused more harm than good. A lot of people came into crypto because they were excited about celebrity tokens,” Nwankwo added.
Speaking further, the decentralised finance analyst said: “For someone like me who has been in the banking sector. I’ve been in Sterling Bank and Union Bank respectively. I don’t like to keep my money in the bank. I like to hold it in USDD because of the gains and other benefits because I understand the market.”
Nwankwo urged the Nigerian government to step in and regulate the industry instead of clamping down on crypto operators.
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