Topic: Benefits of investing in Bitcoin (Read 160 times)

Exactly buddy, some persons do somethings that are not in line with wealth creation, why would someone even hoard money as you said though we never can tell, it may be because of lack of knowledge or information, not everyone that knows much about Bitcoin despite that many people come across it in the internet space, it doesn't necessarily mean that they know something about it, many people are illiterate financially that because they don't have faith in digital investment like Bitcoin another things is that you never can tell what they have gone through in the past that made them to prefer hoarding money than investing it but whichever way, it isn't a good decision to keep money lying idle without generating any profit when such person is supposed to have invested such amount in Bitcoin that's very futuristic.

Bitcoin is a good long-term investment that has the ability to be profitable to an investor that understands what it takes to keep accumulating and hodling for a long-term, your conclusion are correct and I strongly support them, but my question is, as a newbie hope you've started accumulating with DCA mathod already?

One major benefit I see about Bitcoin is the financial security it offers. Like the faith you have that you have an investment somewhere, and you can liquidate it anytime. You know you don't have to take months to go to a bank with lots of documents before you can get your money out.

This long-term financial security is really valuable. As the value of Bitcoin keeps increasing, the value of your money also keeps increasing. To the point where you can even liquidate part of it if you really need money, and leave the rest.

People used to overlook Bitcoin as an investment opportunity years ago, but now people are more aware of it and are willing to invest. It's just that, it might not be so cheap to start investing at the moment, especially since Bitcoin is on the high side. That's why a  DCA strategy is advised. You just keep adding a certain amount of money as you progress, before you know it, you've bought a reasonable amount of Bitcoin that you can hold for long-term purposes and gain financial security.

The joy that comes from knowing you have money somewhere is a different kind of joy. Your own money. The advantage of Bitcoin spans across a lot of things, but what stands out for me, is the long-term financial security it gives.

Bitcoin can easily be moved from one place to another without anyone knowing because it is sitting inside your mobile hot wallet, and bitcoin is easy to accumulate due to its divisibility into smaller units.

Bitcoin has a lot of potentials and one can use bitcoin to transform his financial situation if he is consistent in buying and increasing his bitcoin portfolio overtime. A digital currency turning into one of the best assets that you can use to multiply your wealth.

Even if the government can regulate how you will spend your money, I don’t think it is in Nigeria. And the only time that restriction of the amount to use daily was done in Nigeria, it was some few years back, and it didn’t take more than a month, which was just because the government wanted people to have access to the new note and for a free and fair election based on their claim.
 
I know that bitcoin is far better than the traditional currency in terms of security and many other aspects, but still we are not supposed to keep underestimating our traditional currency because it will end up affecting us a lot. No matter how you save or keep your money in bitcoin, you most need Naira to spend it in Nigeria, so anything that affects the Naira most definitely affects you that will be using it for your daily needs because in Nigeria, no organization, supermarket, or any business receives bitcoin as the source of payment.

All this one government they do the thing no they move me again because if you look the matter them no fit stop people to they do bitcoin and this is like a free will for the citizens you no fit just come decide say make people no do am again and if them try am the problem wey them they face now na small because this bitcoin of a thing done turn to means of earning for people so anything wey make them succeed block am for the crypto space na when wahala go start be that because before them fit make that kind decision they suppose comsider a lot of factors before them go say them one block am because the thing done turn means already.

And if you look the kind investment wey bitcoin be no be small investment because if you look money wey they the market cap you go know say no be play and na one of the reasons wey the government they consider them no wan make this kind decision because they know the implications crime must increase the thing no get part two all this thing, self custodian and the thing come be asset again so you fit decide to sell any time and you go still sell your thing with intrest.

Just like you said, when it comes to how we will make use of our money, the government used to control us and decide when we will have access to our money or use our money, but with the creation of bitcoin, all these were eliminated. With bitcoin, we can send money to our relatives anywhere in the world without any middleman scrutinizing our transactions, and they will receive it within a second. Another thing that gives bitcoin so much power is the self-custodial, which gives us total control over our money and no government or person can spy on us to know how much we are worth. Bitcoin is really a blessing to us.

No lie, you really try for taking your time to give us this wonderful thread here. Without doubt, e go dey helpful not only for the newbies but for everybody here. Believe me, some people just dey hear bitcoin and only know about the price increment and nothing more.

However, to avoid misleading I dey always prefer when things like this is being discussed, it shouldn't be one sided but both sides of pros and cons should be touched a bit for clarity sake. I believe we have total newbie in our midst here who knows nothing about cryptocurrencies and Bitcoin specifically. Reading only the advantage will give them hope and motivation to invest but when they start experiencing otherwise of the market and other adverse effects of crypto they might feel mislead and probably end up calling bitcoin a scam.

For everywhere here, bitcoin is actually advantageous but we should also be wary of its disadvantages. E dey volatile in nature as well. This means the price is not fixed and e dey move rapidly and can also not be predict correctly. In short, e dey very risky and investing in it simply means that you are ready for the risk.

Another disadvantage is security related. Although, this depends on you as individual and how well you can secure your assets digitally to be free from cyber attacks. Exchanges, irrespective of their security measures put in place some time fall victim and get hacked. Your personal wallet is not free from this attack as well if you don't take the security measures seriously. Every single mistake in crypto will cost you to lose money and you must be ready to pay for the price if you mishandle your asset. To cut it short, things plenty and you need to do your own research.

Note: I'm not trying to discredit Op post or belittle bitcoin but to make us aware of the risk involved in bitcoin. It's okay to discuss about the advantages of Bitcoin but it is more better to discuss about the disadvantages too.

There is always need for Bitcoin users who are holding firmly for profits to stay updated unconditionally about their holdings which speculations is already being alternated as part of the service bringing to our awareness of a current valuability and potentials of the Bitcoin we have indulged on for profitability which either in short or long time, possible insight of what Bitcoin would bring as value is also considered very important which could be a baseline giving us the assurance that we have never made the wrong choice.

I am very much sure that we holds our holding confidence of Bitcoin on speculations which may also drive mind weakened holders to FOMO.

In this case, I go agree with you, and the other way round, it may differs, holding Bitcoin no be for poor people who only earn once. If you are a weekly, or biweekly or monthly earners, it's much better to buy Bitcoin gradually and hold as long as you want because the chance of touching your investment is rare and limited.
For poor earners who wants to hold Bitcoin for long, they may not withstand the disaster, the frustration I can say that comes when Bitcoin price is depreciating,  it's very diminishing.

if you observe now, the risk associated with owning bitcoin or even investing in bitcoin for the long term is becoming very minimal because of the kind of investors that are coming into the bitcoin ecosystem that makes it difficult for bitcoin to dip remarkably. for all the time bitcoin has gone bearish of recent, the extent of the dip is always small relative to how much of depreciation that affect holding unto fiat. it all shows that holding fiat most especially when you don't have a plan of using it in the short run is more disastrous than holding bitcoin.

in terms of benefit, the list is endless, and they are all pointer to the fact that you are in a good advantage when you hold bitcoin. save hundred thousand naira in your bank account with the plan that you won't be using it for the next three month and also save an equivalent of that same hundred thousand naira in bitcoin for three months and see the difference, for the fiat in the bank, you will find out that you might easily get tempted to make use of the fiat when you are in need unlike for the bitcoin holding that you can hold for a year without using it too soon. when you check bitcoin price and sees it going up, it serves as a form of motivation that compels you to keep holding because of the small top up you usually see when bitcoin price goes up a bit.

You are right. Is it actually a wise decision to invest in bitcoin because it grows over time? Regardless of the risk that is attached to the investment, as long as we can hodl for a long time, we will definitely get the profit from bitcoin investment, and also, you are right. Saving money in local currency will not help us because the currency can even lose value at anytime, so it will be better if we use the money that we can use for at least 4 years to save it in bitcoin; it will appreciate in that given period.

Protection against inflation and price increase is one of the main reasons why people buy Bitcoin. Not many see other benefits as a reason, some people don't even know that Bitcoin has other benefits like the decentralized privileges and the rest. What I tell people na say Bitcoin get many benefits na just say, you get to buy am first na so you go begin benefits from am. Make we come say you dey buy through DCA na discipline you dun dey give yourself be that and also you done they open doors for investment as the profits dem wey you get, you go begin dey reason other investments them to enter. And from there, if you follow up well you dun set for life be that so anybody wey never buy and him dey read this thread, this is your chance to get some Bitcoin.

Bitcoin is more than a Queen it's like the god of all other coins and the best thing anyone would do to themselves is investing in it cause it's the gateway to secure a better and profitable future, those who were bold enough to invest on it in about 4 years back and beyond are a living testimony to my statements and so shall it be to every other people that would do so now and hodl for long-term. Those procrastinators that failed to seized the opportunity when they had chance and finance to keep their investment journey going would be regretting currently and had I know would've been the case, well it's not too late and the current price should be an issue to invest now. However, there's no best time to invest in Bitcoin any entry is okay so far the investor's motive is long-term and has stabile income to keep accumulating Bitcoin periodically. Bitcoin investment doesn't come with regrets it's something worth doing for the betterment of one's future and so far you do the right thing you'll must be on the profit side in future.

This is a useful trade because when I sit down and read DC three is really useful for everyone that wanted to invest in bitcoin why why I said that is because Bitcoin, as becoming a wonderful queen for each, and everyone that know much about investment in bitcoin, to be honest bitcoin has motivate of people when they see that the price of bitcoin is continue rising every blessing day That nobody was not even expect bitcoin will do more better before the season end. the reason why some people Are still Contemplating starting the journey to begin accumulating is because all this while bitcoin has been lying down without moving or rising that will motivate people to accumulate much bitcoin.

Furthermore, Indeed, since we all see him the movement of bitcoin I think this is right times for those who has never invest in Bitcoins to put much eyes on how the journey is Floated So that they will aware when the price as come down in a very low price: So that they can able to purchase on their own for them to benefit huge profits in future.

Very good and well composed thred that explains a lot about Bitcoin invetment and how it works, this should be a great reminder for all especially the newbies to investment, this thread explains the importance of Bitcoin, its benefit, and lots more.

I want the newbies to Bitcoin and crypto investment to know the risk involve in cryptocurrency. They should never expect a quick money because Bitcoin journey did not start and get to this point in one day, therefore, Bitcoin investment is usually a long term investment.

To leran further about key and address, blockchain technology, how to send and recieve Bitcoin, read this book to get all the basic knowledge you need.

Avoid saving your coins on exchanges because not your keys, not your coins.

Bitcoin is indeed worth admiring, and there are alot of benefits in investing in Bitcoin, Bitcoin is not like other cryptocurrencies , it's fill with alot of protential , Bitcoin is a coin that's tend to grow over time so investing on it will be a wise decision.

And one thing again is to position yourself, by accumulating enough stashes it may take you a whole cycle to be able to put up something nice in bitcoin that's why Bitcoin is more beneficial when it comes to long-term investment.

Hoarding money is not profitable in anyway but when you invest, you get ahead of inflation and grow your savings.
Bitcoin overtime has proven itself as a hedge against inflation due to its Store of Value and medium of exchange. Considering Bitcoin for long term investment can provide investors with an innovative opportunity for growth and diversification.

Even if we have seen lot's of topics like this, i still believe always getting reminded of few reasons as to why we persistently trust and want to keep our investment running will help us continue to stay in the long run without having any fear or doubt that will lead to altering our Bitcoin investment.

I guess, the most prolific advantage associated with Bitcoin is due to profits that will be made after some while of investing, i strongly believe that lots of Bitcoin holders/investors hardly would have accepted Bitcoin or become part of the community if it was just alone other advantages like you mentioned. All being part of the benefits, i so much love making profits and i consider it the best i can get from participating in Bitcoin, if truly we can give our honest review mine won't be far from others.

Bitcoin is a very good investment choice and its adoption is growing as time goes by, hence it is paramount to run through the Advantages of Bitcoin and the benefits of making such rewarding decision as starting your bitcoin accumulation journey. This would further motivate those who are already on the stride and also serve as a conviction tool for those still in contemplation on starting their accumulation journey.


Advantages of bitcoin

• Enhanced Security: Bitcoin has one of the most secure network and it is least prone to hack, so you are assured of your funds safety over the blockchain, unless of course if you are careless with handling your funds on a personal level
• Transparency: Bitcoin transactions is open to anyone at any point in time. The transaction data is recorded on a public ledger, hence it's availability for everyone's consumption
• Anonymity: Better achieved via decentralized wallets like electrum, sparrow, blue wallet e.t.c. Your transactions remains untraced to the initiator and can help you maintain a low profile
• Decentralization: Bitcoin is not owned by a particular person, everyone owns the stashes that they can accumulate and can do whatever they want with it. No one can dictate to you how you handle your assets
• Growth Potentials: Bitcoin has demonstrated heavy growth potential over the last 15 years of its existence. The value has appreciated to $93k ATH currently and a market cap of $1.81B. Bitcoin is and still remains the most performing digital asset of the 21st century
• Accessibility Everybody can buy, own and use bitcoin. It doesn't matter your location or race as long as you have a phone or computer and of course an active internet.
• Immutability: Information on the bitcoin blockchain can never be altered or changed for any reason, This helps to fight corruption and is essential to the continual trust and reliability of bitcoin
• Removal of third-parties:Bitcoin eliminates the involvement of third parties for transactions, only a wallet is needed which can be downloaded on app stores and you can carry out your transactions on a personal level. However you need to be careful so as not to download the wrong or scam versions of the wallets

Benefits of bitcoin

• Protection against inflation: Fiat depreciates in value and its purchasing power reduces with time, but the value of bitcoin keeps increasing, so your funds invested into bitcoin is subject to continuous appreciation when invested for a long term (4 - 10) years or more as against dumping it in banks
• Securing your Financial future:Bitcoin investment is a long-term journey and is very suitable for future financial goals like retirement, Business expansion, financial reserves e.t.c
• Freedom from Government controls: With bitcoin, you are in charge of your funds and can do whatever you want with it without government involvement, controls or regulation and your funds are available to you when you need them. Your transactions would be broadcasted readily since the decentralized nature does not permit monopoly of mining services
• Liquidity: Bitcoin can be easily liquidated by converting it to a stable coin and selling on exchanges via P2P,  or by transacting offline with the client, although this method is heavily discouraged because of security concerns

Bitcoin is a very good investment that comes with lots of advantages and it is worth sticking to for a long time, it is evident that those who stuck with bitcoin from the very beginning or somewhere along the road are already in good profits. It is also noteworthy that it is never too late to invest in bitcoin since it is still in its early days and its still a very much promising investment concern.

I believe there are lots more to these itemized above and I leave it then to your meaningful contributions