Bitcoin trading not a get-rich-quick scheme – Chiji14xchange CEO

Odum Chijioke John, the Founder and CEO of Chiji14xchange, one of the most popular platforms to buy and sell bitcoin in Nigeria has shed more light on the business of cryptocurrency, adding that the only challenge is that many see it as a get-rich-quick scheme which it is not.

“Nigerians are enthusiastic. According to Bitcoin Google search in 2019, Nigeria has the highest search across the globe and that means people here want to really learn and know how to profit from this industry, the only challenge is that many still see it as a get rich quick scheme and that is why they fall for scams and Ponzi schemes, we should also note that Nigeria has a very active youth population that are proactive with tech, but the core attitude that will help is when they all embrace sound Crypto education by making adequate research and also learning with respective bodies like cryptohub, Abit and so on, he said.

“Stock investments are great if done right but I will choose bitcoin over stocks any day,” he said.

Chiji14xchange is a Nigerian based exchange firm with the aspiration to extend its services to the entire African Bitcoin Market.

To buttress his point he gave a personal experience that spurred him into going full scale into the business while at the same time giving an insight to the business of bitcoin trading.

“Bitcoin is simply a decentralized digital currency or cryptocurrency that is not controlled by any government or central bank and can be sent from person to person through the bitcoin network. This asset totally changes the way we view the traditional currencies and is a great development for the future and I feel people need to understand fully what bitcoin is before trying to understand the business of bitcoin.

“Now for the business aspect, That is making money from bitcoin, I will give a simple illustration, I was introduced to bitcoin around February 2017 and at that time one bitcoin was worth somewhere around $900 but today the same one bitcoin is worth $7150. This is a whopping $6200 profit if you bought one then and held it till now.

“I think I can confidently say that no other asset can boast of such growth during this same period. I can go on and on about when one bitcoin was $20 and when it got as high as $20,000 but there’s no need for that. I think looking at my personal movement with this cryptocurrency,” he said.

Speaking further he said Nigeria is yet to adopt the official regulation of cryptocurrency even when it is ahead of other countries of Africa in activities.

“As cryptocurrencies develop over the next ten years, they can become part of everyone’s lives, solving many of the issues currently associated with existing authorized currencies as the adoption of Bitcoin and other cryptocurrencies will lead to financial inclusion, economic growth and financial freedom.”

Chiji14xchange has proven to be a driving force in the development of the Cryptocurrency trading system as the platform is currently adopting the use of some financial integrations and technologies and are going further in creating more advanced and beneficial cryptocurrency trading systems including affiliate systems.