Photo source edited by me
One million Hive at the point of writing this post is worth around $760,000 ($0.76 ) which will amount to #418,000,000. Most times when we have huge amount of money in our possession, we are likely to end up spending it on things that we may not necessarily need. Below are the drafted out ways I will spend the money inorder to enable me channel it to the right directions . The calculation made below is based on #550 to 1$ rate.
I WILL USE 60% OF IT TO POSITION MYSELF IN THE CRYPTOCURRENCY WORLD (#250,000,000)
Decentralized finance has removed the mindset of buying the dip and selling during the bull, and as such as offered investors different ways to generate passive income for themselves.
I will buy 30 BNB AND 12 ETH because I will be needing them as pairs to the other coin that I will be providing liquidity with in exchanges like pancakeswap , ApeSwap , Mantradao app and Orion pool.
Thus , I will buy 2000$ worth of OM , CAKE , BANANA, UNI , SUSHI as pairs to the BNB and ETH for staking and long term hodl. I will also divide them into auto compounding and normal reward generation. Profit from the normal reward generation will be collected at the end of every month and used on other cryptocurrency projects. All things being equal I should be expecting a minimum of $3000 per month from them.
Non Fungible Tokens is an aspect that is still untapped in the African society and thus I will work towards building an NFT base project for the Africa community. This is where majority of the will go to.
INVESTMENT IN LAND PROPERTY PARTICULARLY BUILDING OF HOSTELS IN TERTIARY INSTITUTION.
Unlike residential building where tenants delay their rent for months , hostel occupants especially in lodges with good facilities pay their rent before the end of January because they won't want to lose the good environment they have, as there are new student every year ready to pay for a good house.
This gives me a tangible amount at the end of January every year with which I will use for another opportunity that will come up, and also in sustaining myself financially. The sum of #100,000,000 is what am expecting to spend on buying the lands and building the structure to a standard that students will be very much attracted to.
3 I WILL GIVE BACK TO THE COMMUNITY FROM WHAT I RECEIVED.
I am one person that believe in growing with others and in dragging people up even when am still struggling.
I will convert some of the hive to hive power and delegate it to some hive naija users below level 45 to help them grow faster, and I will spend the remaining in cryptocurrency related contest as a way of promoting cryptocurrency education in Africa , because lack of the basic knowledge in cryptocurrency is one of the challenges faced by cryptocurrency in Africa. Of course I will be powering up to level 80 so that my vote will benefit content creators. For this purpose , I will be mapping out 10 Million naira for this.
I will keep the remaining amount for emergency purposes and incase of a new opportunity that will come up in the cryptocurrency world and otherwise. This is my entry to the Hive naija contest
@nonsowrites hope my entry is not late .