Why you need proper risk management in cryptocurrency – My Ecurrency founder, Oluwaseun

Akinremi Oluwadamilola Oluwaseun, the founder of My Ecurrency, a cryptocurrency business has advised people who are venturing into bitcoin trading to learn proper risk management.

According to the graduate of Statistics, 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.

“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.”

Speaking on how he ventured into cryptocurrency business, Oluwaseun disclosed that the birth of his brand name ‘MY ECURRENCY’ was a result of a hard lesson learnt.

In his words, “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.

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“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,” he explained.

Speaking on the challenges, he said, “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.

“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!”

“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.”

Giving advise to traders, Oluwaseun said, “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.”

NIGERIAN TRIBUNE

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