Topic: Benefits of investing in Bitcoin - page 2. (Read 445 times)

Bitcoin have already passed what’s we didn’t expected  since it has spike up out expectations, when the Bitcoins was hits $98k and begin fall down most people’s was saying that it will be hard for Bitcoin to hits the $1000k; but a big surprise Bitcoin has over $1000k before it drop down again.

The way Bitcoin begins the journey this days I don’t think it will fall blow $80k anymore, because I can see that the bull run knocking out door, that’s why I didn’t expecting BTC to fall blow lower price this is right time for those who make long time investment in bitcoin can enjoy huge profits.

I strongly agree with you. But most people don't know how to make comments here. Dem supposed hide their identity and become novice 4 di beginning even dem know and ask questions to know more if dem get more.
And one thing I discovered many people wey dey make comments in JayJuanGee commenting threads like buy buy and sell sell, buy the dip and hodle don't even know bitcoin investment and those people just dey there because of the merits. I dey real read their post well well. At least let them contribute to knowledge. Most of them don't know di different between trading and investing. And if dem be real traders and investors dem for know di different.

Go to learnmeabitcoin.com website to learn the very basic and advanced knowledge on how the bitcoin system works. You also need to follow the beginners and help threads to understand the foundational knowledge following the bitcoin technology. Secondly, it is said that practice makes perfect so in whatever you do, you need to consider practicalizing all the knowledges acquired thus far.

In trading for instance, you can decide to begin with understanding spot trading and building a small portfolio of practical usage of the portfolio on the trading type. After that, you can then go ahead with trying the futures or perpetual trading which is more risky. In all, patience and one's ability to control his emotions will greatly affect your success story.

Am a new member here,I will like to know more about crypto currency.so I can start trading in Bitcoin please
Just tell me how I can start trading please

Bitcoin benefit is so enormous,as we can see what is happening today at the market, na who believe sey Bitcoin go reach where e dey now for $95 before December,as the price dey increase,na so the benefits they increase, that's na why e dey very important to invest no matter how the  market they shake and how much you you get just leave am make e dey there, instead keep increasing your portfolio and holding onto it because you see this Bitcoin investment e no go tell you sey him wan drop or climb up up for those people wey think sey the price no go go up again so fast, dem dey do had i know today, people wey HODL it and use the opportunity to accumulate very well, with the hope sey na normal tin for investment that time now dey laugh now, because Bitcoin story don change now ,na him make sey any amount wey you see Bitcoin buy and hold it because that small wey you don buy last last na big money for your future.

Ok, I got to understand your points but either word DCA or trading means the same thing and actually sends the same message, a lay person at least can understand clearly the point am creating, study and watching as I said does not only means to daily trading as you think, I was trying to make it broad to every category of crypto where learning and correcting oneself can occur, a simple studying and watching how crypto experts explains things on the Bitcointalk forum alone has created the environment for learning and studying to establish.

There are important reasons why we need to hold money in as much as making an investment is also important, they both work hand in hand, it would rather be to say that holding money that we are not going to make use of is not profitable when we have all the time to invest as well as grow our investment over time, currently it is Short sighted for anyone not to invest in Bitcoin because it potential winning are no longer hidden with so much justifiable reason why anyone should invest but being skeptical about it will only ends in regrets just as it has happened to those who has failed to do so when they had the opportunity at the earliest days on seeing where Bitcoin is today.

You are correct; since the government controls bitcoin, he has made things easy for everyone since when the government is involved, you cannot do anything other than what he says. Bitcoin makes things easy and makes us feel happy. Because we are profiting and fixing our problems with bitcoin, anyone who invests in it. If the government gains access to bitcoin, we should not have accomplished anything since he would simply shut it down because they don't like it; what the government does is simply prevent us from performing p2p. We are still investing in some exchange that he did not participate in. Bitcoin has helped us a lot in attaining our goals. And we will not stop investing in it except he doesn't exist anymore, and can't be possible because we are using Internet to run everything. Let encourage our self and love once to be investing on bitcoin not only physical business we don't know which one will favour you and get huge profit. What i will said again is that we should always have something doing before you can enjoy investment because not anytime investment can favour you, anytime you can lose your funds but when you have backup you will definitely add it on your holdings and be boosting your investment.

I understand what you're trying to say, I'm pretty sure some people were not very knowledgeable about Bitcoin before coming to the forum but on the other hands not all newbies in the forum are clueless about Bitcoin and Cryptocurrency at large, some came here to add more knowledge to what they've gathered and with this forum being one of the best place to learn and understand Bitcoin very well, hence they came in here to know more. I ķnow someone who's not in the forum but he's a Bitcoin believer and knows lots about the DCA and other good strategies, I was even surprised he's holding Bitcoin and have been doing that for about 2years now. So, before a newbie that's thinking of investing in Bitcoin should gathered knowledge about it if they’ve not done that already and even understand it before putting into practice (buying and Holding) if not, they'll be making a big mistake by going into it without being knowledgeable or asking questions about Bitcoin investment.

I don't expect a newbie to know what DCA method is from the first day, A newbie need to ask question in other know, it is advisable for a newbie to ask question constantly to enable him or her know things, just as I mentioned DCA method, a newbie that want to know would have ask question or better still there are threads in this forum that have more detailed explanations to what DCA method is all about, the newbie stage is the stage of continuous question until you get conversant with the system.

Buddy here you go again what does trading has to do with the DCA method of accumulating Bitcoin, I think you should get this thing straight, we are talking about Bitcoin investment for the future not trading that's seen as a short time investment, as newbie what you need is the basic knowledge to invest in Bitcoin, you don't need to pay much attention to price or watch and study the market constantly as you said, don't you think those can be discouraging, since DCA method can be used to accumulate bitcoin ireepsctive of what the price of bitcoin says at all time what's the need of studying or watching what you can't control, though new bitcoin folks may pass through some processes before getting the right information it's normal but be it as it may the right approach has to applied to get the right result if really they want to remain relevant in the system.

OP all the points you have itemized are for real. Investing in bitcoin is worth the try because one can comfortably control their investment from their comfort zones without any interference. I think I should add up to the list with this particular point and this is what makes it more convenient to invest in bitcoin, although it has been said but I would just put in a little explanation.

Bitcoin is a mobile investment in the sense that you can carry your asset to anywhere in the world with ease and comfort without anybody detecting it. With this, you do not have to call any third party to help you make any transaction because you have every details of what you want with you unlike the fiat system where you will have to call the bank to help you initiate and execute a transaction.

Bitcoin knows no boundary and it is borderless in the sense that you can make payment or do a transaction from any path of the world from your comfort zone as long as you have the receivers wallet address and details depends on your MOU. Using bitcoin makes fee very cheaper than the fiat system and one can pay less to transfer huge amount of money compared to the banking system which the bank would charge you amount which ordinarily you would not feel comfortable to pay.

What if these newbies aren't known what DCA is and what it means to be accumulating as you said, these newbies needs to pass through the process of understanding what crypto trading demands, needs to pay the price of consistent watch and study the market price and movement before realizing that DCA is pretty much better and appropriate.

There an important lesson I learned about money nanny years ago from R. Kiyosaki I guess which is simply that money should be moving and not kept stagnant. When money is in the motion it yields more money for you and doesn't loose value, but when kept stagnant it depreciates and loses value. Keeping lots money in the bank is stagnating your money(except for emergency funds) and it's not a good financial practice.

This advise above doesn't come out positive all the time, hence people are afraid of failing, but how do you get successful if your afraid of trying? Failure is part of the learning process. I've lost many times, been duped too to add, but after each wrong decision, I learned and moved on and here I'm now. Bitcoin is a very good investment if you've some discretionary income available, it helps your funds get profitable for you while you do nothing but increase your portfolio and plan for a long term investment. Investing in Bitcoin is simultaneous to securing your financial future.

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.