CRYPTOCURRENCY, PONZI SCHEME AND THE NIGERIAN PUBLIC

Nigeria, the giants of Africa as it is best described by some of her citizens is arguably one of Africa's economic Hub. there have been a lot of major influences on the economy of this country for years of which was Agriculture but with the discovery of oil in oloibiri Nigeria has solely depended on this earth's Gold as its source of income. This major move has had adverse effect on the system as a whole, where other government parastatals are not being paid proper attention and a decline in their activity which has seen the privatization of most of its parastatals which includes communication, power and housing. This plight had made life even harder for the average Nigerian as he has to hustle hard to make ends meet.
sometime 2 years ago a viral information began to spread of a new way to make money effortlessly just by donating money and almost reap 10 folds in 2 weeks. it sounded too true to believe but a few Nigerians were ready to be the fore runners and they recorded tremendous success.

That system was MMM Nigeria a ponzi scheme that required you to donate and get donated for as well. before the end of the year quite a number of these ponzi schemes sprouted such as zarfund which only transacted in bitcoin. this was the first practical exposure of Nigerians to cryptocurrencies.

all these schemes eventually crashed because of the volume of people in it and this has left an indelible mark on Nigerians especially on the subject of cryptocurrencies. an average Nigerian believes cryptocuurencies is all about ponzi schemes and they are afraid to invest because of their previous experience.
Dear Nigerians cryptocurrencies are not ponzi schemes they are real economic changing currencies and this is the future.