Crypto tutor and stock trader, Adaora Nwankwo, has explained why she transitioned from the banking sector to cryptocurrency.
In an interview on Vanguard’s Lunch Time on Tuesday, Nwankwo shared that her adventurous nature drew her to cryptocurrency, and she found it fascinating. Determined to learn more, she quit her banking job after having her daughter and began her journey in the crypto world.
Nwankwo, who started exploring cryptocurrency in 2007, admitted that she initially lost money because she was approaching it incorrectly. However, her years of experience and learning have since helped her earn significantly in the industry.
As a decentralized finance (DeFi) analyst, Nwankwo emphasized that for cryptocurrency to have value, it must be backed by utility. For example, meme coins lack this utility, and that’s why their value fluctuates. She also explained that cryptocurrencies have “seasons,” which accounts for periods of value increases or drops.
Nwankwo also criticized the “tap to earn” promotion, which some companies use to lure people into crypto, often without fully understanding the space. She specifically condemned Afrobeat star Davido and comic Brain Jotter for launching their own cryptocurrencies but abandoning investors midway.
“That was a very terrible thing they did to the crypto space,” Nwankwo said. “They didn’t understand crypto and probably thought their influence would be enough. The coins they created are called ‘shit coins’ and have no real value.”
