How to save in dollars has been the new investment trending in Nigeria.
As at the beginning of the year, a dollar was equivalent to ₦379.
It is no longer news that a dollar is now ₦450 and above ₦500 in black market.
Without any investment, that is about 20% profit made without stress.
Why should I save in dollars?
This question has already been answered but there is a need for a more explained reason.
The declining Nigerian economy has been a major threat to the value of Naira in the world market.
Economists have attributed the devaluation of Naira to trade imbalance between Nigerian export and import.
Nigeria is known to be a market for all products produced in other countries without a corresponding export from the country.
This, with other factors, has been a reason for constant devaluation of Naira against $.
How can I save in dollars in Nigeria?
All other things being equal, there are two ways of saving dollars in Nigeria.
Don’t be in a rush, both ways will be talked about.
- Opening a domiciliary account
You can open a domiciliary account from any commercial bank in Nigeria.
With the domiciliary account, you can be saving in dollars.
The problem that comes with this method is the large number of documents required before you can have an active domiciliary account.
That’s not all. The maintenance charges by banks is another problem to consider.
- Open a kurepay wallet
How does this relate to saving dollars in Nigeria?
That’s a good question to ask.
Kurepay wallet supports stablecoin which is a dollar backed cryptocurrency.
Stablecoins are digital currency that has its value pegged at $1.
Irrespective of the market volatility, stablecoin will remain $1.
How is this a preferable solution?
- Absence of unlimited documents.
You do not need all your documents before you can set up a kurepay wallet.
All you need to do is sign up and start saving in dollars without stress.
Who knows what can happen tomorrow?
Commercial banks might be mandated to close down domiciliary accounts.
When you are using kurepay wallet, you are in control of your funds.
- Easy exchange. (swapping, buying and selling)
Have you been to a bureau de changer before?
If you buy dollars from them and turn back then decide to sell, they will be buying at a lower rate from you.
You have not left the place but you are losing your money for selling to them.
If you are using kurepay wallet, you will be selling at ruling market rate with ease.
Sign up on kurepay now and save in dollars without stress!!!