How profitable is it to buy and keep incase ones nation currency falls

[Nurudeen]

I'm from Nigeria and as it is now, the conversion rate of naira to Dollar is nothing to write home about. Is it safe to buy dollars and keep incase the countrys currency keep crashing

 

[WhiteHouse]

Yea, it's advisable, the Naira value is weaking Everyday, and getting Almost worthless now, buying dollar or Bitcoin in case is a wise Idea.

 

[Cybersec]

When you buy and keep you are also directly contributing to the down fall of the your country's currency.

Although government policies plan major part in times of currency problems.

 

[Dubai]

It is a risk but it is worth taking and there is no guarantee that there will be rise when selling the currency. Just like any business or investment you have to be savvy about the trend and use information to your own gain.

 

[kharvest19]

i believe it is a 50/50 things, no one knows tomorrow or what will happen in the next seconds, will all just predict ahead which sometimes comes to reality and sometimes not

 

[Niftyyem]

If the opportunity is open to me, I would prefer keeping funds in dollars or the alternative will be in stable coins such as USDT. That way, the devalued fiat of the country won't have much effect on my funds. I have seen some people who prefer their funds save up in dollars.

 

[Ridorz]

That will be a good idea of investment because every day by day is Naira loosing value. But you will have to exercise patience for long to make a good profits from it, because it's not a instant profit.

 

[btaliat]

That's a good form of investment. I understand the current fall of Naira against dollar in Nigeria as well. But the fact is that, if many people involve in this investment, the naira rate will keep falling because the more people hoard dollar, the more the fall of your currency.