For this week’s user story, we talked to Wahab, who started his journey after realising that keeping money in his bank account was not yielding any profit.
When people ask you what you do, what do you tell them?
I am an Electrical Engineer and I work with a multinational firm in Ibadan.
What does financial wealth mean to you?
Financial wealth to me simply means having a stable income and healthy savings and investments. A balanced life with a great plan sounds great.
How did you start your investment journey?
I started in 2019 after I realised that keeping money in the bank was not yielding any profit. I’m an employee so I know I cannot depend on earning a salary forever.
I feel you. So, how did you go about it?
It is quite a funny story. I googled ‘online investment in Nigeria’ and saw many of them. My experience is funny because I dabbled into Forex and I had a terrible experience with different Ponzi schemes. Then I invested in stocks with Bamboo, before getting to know Rise.
Ouch, the Ponzi must have hurt.
Yes. Yes, it did and still does. I think I lost up to ₦500,000 to Ponzi schemes and learned a great lesson; a good Investment gives a high return in the long term. If the return is high and it is short term, please, run for your life.
That’s something. Tell me how you got to know about Rise.
After the Ponzi episodes, I got wary of any kind of online investment, so I doubted the integrity of Rise for a couple of months, LOL. I can’t blame myself. But today, investing in Rise turned out to be the greatest experience I ever had. I have learned so much from Rise.
Tell me how did you go from doubting the integrity of Rise to investing with Rise?
I joined the telegram group and that was what gave me the confidence that Rise was okay for me; the lessons and testimony of fellow Risers made me start investing.
Love to hear it. Tell me about your experience with the Telegram group.
It is like a university of investment, but they only teach things you can relate to. The telegram group makes me understand more about major investments, especially as a high-risk taker, I learn how to manage my risk more. The place is very educational, engaging and you cannot stop learning from there.
You only do stocks?
Yeah, I’m a high-risk investor and I only do stocks and crypto. The reason is that I believe in investing more to retire early. So I invest 50% of my earnings in Rise and crypto.
Omoh, aren’t you concerned about crypto volatility?
I know high volatility is a big issue in crypto but the higher the risks, the higher the rewards – go big or go home, baby.
So far, what’s the most money you’ve made from investing?
I made more than ₦1 million in crypto this year. And I recently checked my Rise portfolio and it is quite good, especially knowing that I am investing on a long term basis. I am planning to put more money in Rise for a long time.
How did you get into crypto?
I get my information online. In April this year, I traded coins like Hot, Win, Dent and in 2 months, I was able to turn ₦300,000 to ₦1.9 million. I didn’t cash it tho, so it dropped until I was able to secure ₦1.3 million.
What do you think about your investment position today?
It is better when you compare it with where I was coming from, but it is still not good enough. I need to improve.
What words do you have for a beginner?
You need to invest part of your earnings, but before you do, determine your risk level and invest based on it. Always have an emergency fund and find ways to increase your income for you to invest more.
On a scale of 1-5, how likely are you going to recommend Rise to new users?
Are you kidding me? A solid 5 and that’s because Rise does 3 things that no other company is doing
- Manage people’s investment
- Enlighten us on investment and the economy
- Provide investment opportunities in Dollar assets
Thank you for your time