Ever heard of a love affair that’s like dating a Lagos baddie? Sweet but destructive? Meet Kingsley, a Nigerian crypto enthusiast whose relationship with cryptocurrency has been a rollercoaster ride of plenty highs and devastating lows.
From selling his PlayStation for crypto, to buying a Benz, and then losing it all again to NFTs, Kingsley’s story is a wild journey of obsession, risk, and survival. Read how this self-proclaimed “crypto millionaire” is navigating his way through the unpredictable world of digital currencies.
Warning: this story might make you scream “WOW” at every turn.
First of all, thank you for agreeing to this interview. Let’s start with your name.
My name? Just use one fine name. Let’s keep it coded abeg.
Got it, Kingsley. So, we were told you’re a millionaire. In dollars.
Kingsley: (chuckles) Was, not anymore.
Oh wow. What happened?
Kingsley: It started in 2017. That popular Ponzi scheme had just crashed. And some of my guys lost so much money and were looking for different ways to make it back. That had so many peoples debts on their necks cos they had invested for others too.
I wasn’t really into any investment opportunities back then. But, when my guys told me how someone turned ₦10,000 into ₦100,000 trading crypto, I thought, why not? So, I sold my PlayStation and used the money to buy Bitcoin.
Your PlayStation? That’s quite a gamble. How did that go?
Kingsley: It was mad! Within three months, my capital had risen to like ₦1.5 million. I was hooked. Crypto became my life. I didn’t have any experience but me and my guys were doing trial and error. Trading all day, barely eating, making money, losing it, then making it back. My mom thought I had started Yahoo Yahoo.
Wait, what did you tell her?
Kingsley: (Laughs) I told her I was freelancing online as an animator. I used to animate for some production companies so the lie was very believable. The funny part? She started fasting and praying for my clients to bring more gigs.
That’s wild. So, when did things take a turn?
Kingsley: 2018 mehn. Bitcoin crashed, but that didn’t stop me. I decided to invest my entire savings around ₦40 million into one scam project. May God pu… (stops, then continues) the developers disappeared overnight sha. Just like that, I was broke again.
Ouch. Did you ever bounce back?
Kingsley: Ah, I entered the streets. I became a “P2P hustler,” buying and selling crypto for people. Nigerians love cash flow, so I’d buy Bitcoin at a discount and sell at a premium. It was risky considering what people think of crypto trading here and their perception of the people into it.
What happened next?
Kingsley: The 2021 bull run o. I started small again with just $500 worth of Ethereum. Within a year, I turned it into $100,000. I thought I was untouchable. I bought a Benz, started popping bottles at Cubana, and even opened a crypto academy.
You opened a crypto academy?
Kingsley: Yes o. I was teaching people how to trade. I charged ₦300,000 per person, and people were rushing me. Some even offered to pay in “kind.”
Wow. Did you accept?
Kingsley: (Laughs) No comment.
So, where did it go wrong again?
Kingsley: NFTs. I thought I was smart, but those pictures of monkeys humbled me. I spent $50,000 on one “rare” NFT. Two months later, its value dropped to $500. That’s when I realized I had messed up again.
So, you lost everything, again?
Kingsley: Almost. I sold the Benz, moved back to my mom’s house, and started trading again. But this time, I’m smarter. I only trade Bitcoin and Ethereum now. No more nonsense projects.
What’s your biggest lesson from all this?
Kingsley: Crypto can make you or break you. It’s not for the faint-hearted. But you must know when to walk away. And please, never invest what you can’t afford to lose.
Final question: Do you regret it?
Kingsley: Regret? No way. Crypto helped me to make money in the midst of a high cost of living and high unemployment rate. I’ve seen millions, lost millions, and learned how to survive. If anything, I’m just getting started.
Thank you, Kingsley. Your story is truly something else.
Kingsley: (Smiling) Na small thing. But please, add “no be financial advice” o. Before people come and quote me.
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢).
Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
