The basics on the DAO project may seem hard to find with the project currently emphasizing a digital platform crowdfunding projects via the use of cryptocurrency many may be bewildered by the terms used and feel that the concept is worth learning about, but the information currently available is just too specific but here in this article we will break it down to its core aiming to evaluate its benefits and check if its the right investment opportunity for you !
The DAO project essentially works of the DAO tokens. Just like bitcoin these are digital currencies which are stored in wallets, a similar way in which you would store Naira in a bank. Just storing the tokens will in effect allow you a chunk of profit as due to market fluctuation you may see 10000 Naira worth of DAO swell to be worth 15000 for example. This is a simple strategy of holding long term and cashing out when market conditions look ripe to take advantage off.
Another way you may be able to experience the benefits of DAO in Nigeria is using it as a active investment medium. The Naira is good and well when it comes to long term stability but as we have seen over the past few weeks political tensions and commodity markets are having a huge impact on value. The fact that you too can submit a proposal for example to fund a business or build a solar panel in your local area all it takes is a simple English written proposal which is submitted and backed by members of the community with the token. Not only could this help Nigerians kickstart various business ventures and even invest for potential returns which are tax free as legislation is currently a grey area for digital currencies.
You can easily purchase the DAO token via Bitcoin which is available on the NairaEx exchange, the leading Bitcoin exchange in Nigeria. Capable of transferring the bitcoin in a matter of days it has never been easier to invest in Digital currencies at a lower risk level.