My Crypto Journey: Binance, My Solution for Personal Financial Management
My Crypto Journey is a Binance Blog series showcasing how crypto, blockchain, and Binance have changed the lives of various individuals.
This is a story about crypto and Binance helping Chimdia manage his finances successfully.
Binance became the solution for Chimdia’s financial management struggles. Read this week’s entry of My Crypto Journey, a collection of stories from users impacted by crypto.
My Crypto Journey follows the lives of different African individuals whose lives have, in one way or another, improved with the introduction of crypto, blockchain, and Binance.
This is the story of Chimdia, who earns, saves, and invests in crypto, all on Binance.
How He Started Using Crypto
“I learned about Binance through a friend’s WhatsApp status and reached out to learn more. The rest, as they say, is history.” – Chimdia Obasi, 25
Chimdia is a 25-year-old business development executive in Nigeria. He had been looking for a way to join the new wave of digital currency users as he heard about the financial opportunities it offered.
In 2020, his friend taught him the basics of using Binance, which he used to kickstart his learning through YouTube videos. He bought his first bitcoin in November 2020 and has continued leveraging crypto’s benefits on Binance.
Binance is home to different products and services catering to many crypto and blockchain-related needs. For instance, Binance Pay, a secure and convenient way to transfer crypto globally, supports more than 300 cryptocurrencies and has no transfer fees. Users can also spend with the Binance Card and earn up to 8% BNB cashback. Discover how the Binance ecosystem can meet your personal financial needs.
How Crypto Has Changed His Life
“Crypto has redefined what finances mean to me.”
“I used to worry about my financial institution running out of liquidity. Ever since I diversified with crypto, I can work toward my financial goals without worrying about that anymore,” said Chimdia.
The concept of liquidity is key to financial institutions’ ability to reliably serve their customers. If a bank runs low on liquidity, i.e., does not have enough money to meet its clients’ withdrawal needs quickly, then Chimdia and other Nigerians like him who are using that particular bank can be unable to reach their funds.
Chimdia added, “The amazing thing about crypto is that it not only presents potential investment and career opportunities but also provides an alternative solution for my finances.”
Chimdia’s Journey With Binance
“Binance has been instrumental in my pursuit of crypto literacy. I now use Binance to save, invest, and receive a salary from my employer.”
Chimdia shared, “Binance has solved almost all my personal financial management struggles.” Besides making digital assets accessible, Binance has also provided an abundance of free educational resources available through Binance Academy and other channels.
On top of that, Chimdia works in a forward-thinking company that uses Binance to facilitate payroll processes. Thanks to this, he can receive his salary in crypto and then spend or invest it without leaving the Binance ecosystem.
Chimdia also attributes part of his financial management success to the platform’s easy-to-use interface. “I can transact with a snap of my fingers!” joked Chimdia, who relies on the Binance platform for most of his crypto needs.
Chimdia’s Advice for Crypto Beginners
The first thing you will have to invest in order to succeed is time: you have to learn before you can earn. If you hurry to earn before you have ample knowledge and without doing your own research (DYOR), your mistakes might become expensive lessons.
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