Ever wondered why you seem to be losing money despite your best efforts to make good financial decisions? One word: Inflation.
When you live in Nigeria, the constant devaluation of the Naira will always affect you negatively. There is a steady increase in living costs, and purchasing power is on a steady decline. So, simply making the right investment decisions might not cut it.
Let’s look at the statistics.
If you invested in the Nigerian stock market in 2021, you would have gotten an average ROI of 6.7%. If you invested in Fixed Income options, an average ROI of 10%, and if you choose a savings account or Nigerian Treasury Bills, an average ROI of 1.25% or 4.43% respectively.
Now, inflation in 2021 rose to about 15.63%. So, even if you saved up and made investments, you would have lost money without your knowledge after your returns are adjusted for inflation.
Is there a way to solve this?
The answer is yes. With Bitnob, you can save in USD and in Bitcoin, investing your money in a way that beats inflation, protects your assets, and keeps your money valuable. And these aren’t just words- we have the numbers to back it up too!
If you had saved in Bitcoin in 2021, you would have enjoyed an average ROI of 57.6%. And when you adjust this with the inflation rates last year, you would have a return of 42.03%. Still brilliant, and even more so when you compare it to how other asset classes performed.
What about volatility? Doesn’t that make saving in Bitcoin a huge risk?
Well, the first thing a seasoned investor would say is that every investment comes with some risk. Without risks, there are no rewards. However, numbers don’t lie.
Over the last decade, Bitcoin has given us a whopping 230.6% in annualized return. This makes it the best performing asset in the last 10 years. You may have missed the opportunity to jump on the train then, but now is the chance.
I don’t have a lot of money, how do I save in Bitcoin?
Bitnob is here to help. Regardless of how much you earn, or how much you have as disposable income, you can start your Bitcoin savings journey. Bitnob allows you to create a savings plan with as little as $1. You get to choose the frequency at which you want to save; be it daily, weekly, or monthly.
Getting started is pretty easy. All you have to do is download the Bitnob app here, create an account, fund your wallet, create a plan according to your preference, and let Bitcoin make your money work for you. Savings are automated, so you don’t need to worry about forgetting to save at any point.
This is your chance to beat inflation, you should take it.