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August 27, 2022

Introduction to cryptocurrency

If you’re wondering, when did I get into crypto? Here is my crypto journey at a glance.

I first heard about Bitcoin in 2013. I use to do sports betting then and my means of payment was using Liberty Reserve(LR) – one of the popular online currencies together with perfect money.

Unfortunately,  LR was shut down by the US government because it’s a centralized payment network/platform.

So along the way, Bitcoin popped up as an alternative.

Back then there were very few resources available about it. I tried setting up a wallet, and the only way was to download the Bitcoin client software. I could remember I needed to sync about 12 gigabytes of Bitcoin blockchain data.

Anyways, I abandoned the whole process because it was just too complicated and I was like the government would also shut it down like LR.

Fast forward to 2016, a couple of events happened.

LUNO, Blockchain.info, and Coinbase wallet were available in Nigeria.

I also got to know about a popular Ponzi scheme called Mavrodi Mundial Moneybox(MMM), and I started buying Bitcoin at physical shops(Naira4dollar and Bitswitch at cocoa house, Ibadan where I worked).

I made a lot of Bitcoin from MMM then lost it all to about 1 Bitcoin in early 2017.

I exchanged that 1 Bitcoin for 70 Ethereum at $10 each using Shapeshift.io and saw the price skyrocket.

I also lost a lot of money in the 2018 bear market and since then I’ve been educating people about crypto and sharing the mistakes have made via my website(9jacashflow.com) and youtube channel.

Fast forward to today. We are 10 months into my 2nd bear market now.

So that’s my story. I would love to hear about your Bitcoin and blockchain journey.

Kindly share in the comments below.

Here is a recent article I wrote about a coin I’m currently investing in called Bitcoin Cash.

About the author 

Kehinde Lawal

CEO & Founder @9jaCashFlow | I'm a digital entrepreneur, farmer, and investor. Like Thomas Edison, I'm failing my way to success. Let us connect! | +234 810 185 0909

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