We all know in nigeria that the interest on a fixed deposit has reduced so much that it is as if fixed deposit is not worth it anymore.
I am not in any way saying fixed deposit isn't a good investment plan but that the return is very low compared to the returns from crypto currency in general.
Let us look at it from this perspective.
Mr A fixes N5,000,000 for 30days at 5% interest. The returns after 30days is N20,833.333. very low if you ask me
Now, Mr B decides to buy N5,000,000 worth of bitcoin (37bitcoins)to trade it with ethereum.Incase you dont know, ethereum is a highly traded and sort after coin with a huge market cap, and trading volume and second to bitcoin.
Two days ago ethereum market value was about 2,880,000 satoshis, and now as i write this post, it about 3,200,000. If an investor purchase ethereum with 37bitcoin(N5,000,000) at 2,880,000 and sells at 3,200,000 then the investor will be making 41.1bitcoins. That is a return of 4.1bitcoins
Which translates to about 4.11 X $416 =$1710 =N495,964.44.
Now compare N20,833.33 in a month and N495.964.44 within a week.
Judge for your self which is desirable.
I know there a lot of people that have more than this amount lying around. Why not give cryptos a trial and increase your finance more significantly.
I am very willing to advice and assist if you need me.