Man Turns 'Okpa' Hawker after Losing over N17 Million He Put in Cryptocurrency, Shares His Story
- From someone who had millions and properties, a Nigerian man now hawks 'okpa', a Nigerian dish made from Bambara nuts, to survive
- In an interview, the hawker recounted how he lost over N17 million to cryptocurrency and how the idea to sell "okpa" came about
- In an exclusive chat with Legit.ng, Anuforo Johnpaul Chimaobi, a crypto trader and the founder of Morningstar Digital Services, bared his mind on the man's story
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A Nigerian man, Angel James, who now hawks "okpa" for a living, has recounted how he lost over N17 million he had invested in cryptocurrency.
Angel, who is proud of his "okpa" hustle, said he owned a restaurant in Gariki, Abuja and had properties before things went South for him, thanks to crypto.
Source: Facebook
How Angel lost over N17 million
In an interview with content creator Lucky Udu, Angel revealed he lost the whopping sum between 2021 and 2023 and started the "okpa" business with the last N5,000 he had.
Angel wants to turn the "okpa" business into a N5 million venture in 12 months.
"Hi. My name is Angel. Between 2021 and 2023, I lost over N17 million to crypto. But today, I am selling okpa and I am about to grow my N5,000 business into N5 million in 12 months," he said.
When quizzed about how he lost millions to crypto, Angel admitted cryptocurrency did not work out for him, as it did for others.
"Well, I would just call it life. I believe crypto is doing a lot of people good, but it is not for everyone and I am one of those people it didn't work out for.
"And so, I had to weigh my options and decide on what next to do and so I chose this part (hawking "okpa") because I feel it is a business I am comfortable with and I can actually grow, scale up quickly and become better again.
Angel was a restaurant owner before his fortunes nosedived.
"Few years back, before the COVID-19, I owned a restaurant in Gariki. If you go to Area 11, everybody knows me as fisherman. Here in Abuja..."
Angel said he first bought Ethereum, a digital asset, of N2 million and it grew into N3.8 million in the space of three months.
This prompted him to sell off his properties and pump more money into getting other digital assets and meme coins. Unfortunately, they all plummeted.
Crypto trader reacts to Angel's N17 million loss
Anuforo Johnpaul Chimaobi, a crypto trader and the founder of Morningstar Digital Services, told Legit.ng that everything about crypto trading is risky. In his words:
"When it comes to crypto everything is a risk. One can invest in crypto but as the saying goes don't put your eggs in one basket.
"Many crypto experts make money they also lose money it's all about knowing the skill and not FOMO ( fear of missing out).
"Crypto has made people and at the same time has destroyed people it's all about the right FA ( fundamental analysis) and TA ( technical analysis)."
People react to man's N17 million loss
Meshach Zhizhi said:
"Weak men create hard times, hard times create strong men and strong men create good times.
"This man should be grateful he facing his 'Desert period' early in life. He is a rising star."
Albert Tino Okechukwu said:
"It can never be me, the worst thing a man will do is to use crypto as his main hustle, bro you will beg for food and you will cry. if you want to be doing crypto first of all have something tangible you're earning from then use crypto as a side hustle."
Nwafor Cynthia said:
"He gambled not trading... The mistake he did was trading memecoins with 17 million naria... That's greed."
Oluwatosin Liaquat Adedokun said:
"Anyone that had 17m to invest in crypto and resorts to hawking must have stolen the 17m in the first place. I didn't watch the video o, but I don't think anyone makes 17m from hawking... If you lost 17m to crypto the worst that would happen is to go back to what made you that 17m. Except the 17m.was made from hawking then no wahala. But what do I know self 😏🤷."
Miracle Nwimueyii said:
"Abeg rest, you went and indulge yourself in business you know nothing about and expect to gain from it....have you seen any Igbo Man or business Man get into a business and don't first learn about the business? You lost because you were stupid....people are earning from Crypto don't be stupid. You lost because you are ignorant."
HTA said:
"Oga preparing(cooking) ọkpa with nylon is poisonous. You wasted #17m now you want to waste people's lives too."
In a related story, Legit.ng reported that a man had "lost" N1.5 billion on a Trump meme coin after its price briefly dumped.
Seun Kuti's sister allegedly loses N50 billion
Meanwhile, Legit.ng previously reported that Seun Kuti's sister had allegedly lost N50 billion to cryptocurrency.
This was disclosed online by the Afrobeats singer who condemned and tagged cryptocurrency a scam. He further knocked cryptocurrency promoters, calling them “criminals” who exploit vulnerable Africans.
According to Seun, crypto is a lie and a scheme to steal from poor people, whose wealth is then transferred to the richest.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
