Topic: Best way to invest in Bitcoin (Read 476 times)

Let's invest in the project we're all family with and not some random project we know absolutely nothing about. The price of bitcoin continue to go up because bitcoin halving is just around the corner and we might see one of the shocking events that's going to happen. Bitcoin investment is mainly for longterm because bitcoin is not some random project that easily makes pumps within days or weeks but it takes months to make such shocking moves in the market.

You nailed it sir because up till now most people don't know that when they buy coin, they can't and will never lose the coin, it will just be there what will happen to the coin is changing of value up and down movement (fluctuation) and some people invest or enter when the value of a particular coin is down and when the coin start progressing they pull out or sell but I will advice people not to be in hast to pull out or sell when a coin start progressing,always calm down and allow the coin to grow you won't lose it. investing or holding a coin is like putting a chipping inside water, nothing will ever make the chipping to desolve it will always remain there.

Benefit of investing in Bitcoin is that it offers a high degree of transparency. The Bitcoin blockchain is a public ledger, which means that all transactions are visible to anyone who cares to look. This transparency helps to ensure that no one can manipulate the Bitcoin network or create fake Bitcoins. It also makes it easier to track the movement of Bitcoins, which can help to prevent fraud and other illicit activities. And finally, many investors find the innovative technology behind Bitcoin to be appealing. The blockchain technology that powers Bitcoin is seen by some as a potential game-changer, with applications beyond just cryptocurrency, which can provide a sense of security and peace of mind.

Exactly boss and I had to quote your entirely post because you took out time to explain things in a more precise manner and I truly appreciate that and you don’t lose money while holding bitcoin but you rather loss time which they say is money and I also support your motive of rather than saying that we should only invest money we can afford to loss, we should say that we should invest money we can afford to leave for a long time.

But I also want to get something straight, you said we don’t loss money in bitcoin, which simply means bitcoin is a no risk investment based on your post and I want to know if for instance, I invest 1k naira as at when the price was $65k and the price drops to $16k, will my 1k naira still be there ?

I will put it to you straight without mincing words that the best way to invest in Bitcoin without ever worrying about whether it is the amount of money you can afford to lose or not is on this forum. Yes. Build your account to a full member rank, apply for an opening in any of the signature campaigns where there is a slot, join the campaign and start earning weekly in Bitcoin. That is a direct way of investing in Bitcoin without having to buy with your own money from Binance for coinbase or through the Bitcoin ETF.

As a newbie, who just want to start your bitcoin journey, it is better that you check your monthly income and see how much that you will be able to use to buy bitcoin frequently either weekly or monthly that will not affect your income so that you will be able to take care of your monthly expenses and also still have emergency funds for any urgent need that will not make you to sell your bitcoin when it is not of your will. You can use 10% for a start and if 10% is too much for you base on your little income, you can reduce it to 5%. This will enable you after investing for the first time, you can continue to grow your bitcoin portfolio bit by bit through regular NCA weekly or monthly or even quarterly.
You should also have a bitcoin target so that you can work toward reaching your bitcoin target with patient and discipline because you are on a long term investment. The reason why you should always DCA regular is to remove the fear that might come from the market as you can buy bitcoin at any price at that moment because you have budget a portion of your salary to regular buying of bitcoin. Then if you income increases, you can also increase the amount that you were using to DCA.

If you are the type that use to have bonuses or extra cash from your working place, you can be saving that funds somewhere and use it to prepare for the dip, so that if peradventure bitcoin price dips, you can take advantage of the opportunity and use that money to buy at the dip, while your regular DCA continues. An investment is not something that can bring good profit in a short term because the investment hasn't matured yet and that is why you must be on a long term investment to lower the risk in bitcoin and have good profit at the long run. I see short term investors as traders and they are the ones that will fall for the volatile nature of bitcoin and loss from the market because they feel that they can outsmart the market with their charts and technical analysis and when they make wrong decisions and the market goes the opposite side,  they end up in regrets. Buy and hodli bitcoin and increase your bitcoin portfolio with regular DCA method. Remember the size and timeline of your bitcoin portfolio is proportional to the profit you will get.

The discipline is what makes you to stay on track with your investment plans. One thing wey dey sure say e go happen this for this industry na say temptation go dey everywhere. You fit dun set your mind say you go invest inside Bitcoin only but see your friends dey cash out from altcoins like dem shitcoins dem and when you following dem (come forget your goals of accumulating Bitcoin), you go come lose and not be as lucky as they're. If you want make am you need dey discipline. Start target and dey move small small towards that target, ignore any distraction wey dey come your wey and even though the distraction dun too much and you no fit ignore dem, no lose focus. You fit do one or two gamble by the side but make your mind dey say na Bitcoin wey you want dey put focus for.


This na wetin dem dey call DCA but since na Naira wey you dey use invest you fit call am Naira cost average, and this wan be say you go dey invest the same amount of Naira anytime wey you dun set for yourself to dey Invest inside Bitcoin. You fit day make am be weekly, biweekly or monthly. Monthly na when sure pass though as salary come you put the percentage wey you wan put into Bitcoin and use the rest for normal expenses. E get another strategy wey I dey always advice wey be to use Bitcoin as your savings account. You know say we Nigerians sabi to dey save or do akawo wey be say we go dey contribute money to save and take at a particular time. You fit dey run am with Bitcoin and this one go dey saver self because people no fit carry your money run as na you dey incharge but irrespective of how you wan invest make sure you no dey do pass yourself wey go make you dey panic when the market dey correct.

If you get bitcoin from centralized exchange then make you move out to a place wey na only you go fit control am and do weti you like. Keeping coins Centralized Exchange Wallets e no dey advisable because we dey talk dis dis based weti don happened wey we don see in the cryptocurrency space. When u buy send am go non custodial wallet then wen you want sell am then you go fit send the amount or the unit wey you want sell and keep the rest there again.

Na di advise dem been dey give us since so nai make we dey give you back. Bitcoin na investment wey you go wait small before im go ripe for you to pluck am chop. You no go invest in bitcoin and say you want to pluck chop within one month time. Omo e no make sense. So you have to keep for some years to come.

bitcoin no be Investment wey you go just lose just like that, on to say you get patient with your portfolio you no panic sell wen price the fall u still hold bro you no go fit lose so the tin to take hold long nah to the use money wey no go affect our finances in investing, just no go use money wey no go fit get patience to wait. All the people wey the tok say them lose for bitcoin nah people wey go use money wey big pass their pocket and them dey in a hurry to refill from wer the collect from to invest and before you know them don rush sell wen bear price show face.

Well there is no way person go lose money while investing in bitcoin, because is not a gambling that we should be afraid of losing money, there is no way we can lose money in bitcoin, if we invest for a short term, i can see the reason why some of people complain about losing money in bitcoin, they invest for a short-term thinking that bitcoin looks like a gambling people lose money while investing their money in bitcoin, i can only say we should not invest with the money we can need to use so soon, and that thing they affect many people that invest with such money, and if there's in need of the money they invest, they no get any options than to sell the bitcoin they are holding, either the price is high or low. So we no fit lose money in bitcoin, no way.

I can tell you for free that no amount is too small to lose because every little amount is always useful in our country where we come from we say we should be very mindful through which medium we make our investment of even buy bitcoin from, there are some people who may tends to sell their bitcoin through p2p but after sending cash they will turn light into dark immediately they received funds even in binance we should be very mindful because there are people who always tends to have sent payment or even pretend to have release asset while you make payment and your money is gone. Then talking of bitcoin we know it's highly speculative but I know that i can't entirely lost my bitcoin if only the price is fluctuating I still remembered that 1 bitcoin is still = 1 bitcoin but what matters is the prices changes respect to current values in dollars.

Before ever anyone want to get into an investment in Bitcoin the discipline must be there that's if the investment is actually a long term one because without discipline, one can set up a plan and still fail to meet this target because of the lack of discipline and before you know has tempered or scattered his whole investment in Bitcoin. I like to think discipline is a very big factor in the investment aspect and also always remember to invest what you can afford to spare or loss.

There are different ways individuals investors invest in Bitcoin, the best method for me is, buying little by little continuously, this method will help low income earners that have other responsibilities to attain to, and it will also help people that doesn't have multiple source, in the aspect of holding, all bitcoiners are not meant to be hodlers, some of them invested in bitcoin with the mindset of making fast money everyday, but the thing is, this will definitely fail them, op, I appreciate this thread of yours because most people here don't know much about bitcoin investment but with this your writeup and the replies here, a potential investor can derive a knowledge that will help him or her to invest with whichever method they see as the best.

I de sure say OP sef don understand say bitcoin investment don comot for di level of "invest what you can afford to lose", because na serious investment wey person fit take turnaround im fortune for better. When I enter forum as newbie, i shock as i de here the phrase, because i carry high expectations for bitcoin before i join, the phrase really fall hand. That kind phrase suppose only de applicable to people wey de gamble, because the outcome totally depends on luck, no be sure investment like bitcoin, wey we know say as you de buy de hold on long term bases, with guarantee say when bull run come, and you decide to sale, na to reap plenty profit on your ROI. So e suppose be invest wetin you fit hold for a long term.

Investing in Bitcoin now is as easy as it has never been before because there are so many legit platforms out there that gives you the privilege to invest in Bitcoin seamlessly with little or no hitches, but then one aught to be very careful trying to invest because out there, are many others too who wants to take advantage of investors and rip the off their money which was supposed to be for the purpose of investment.

Exchange offers the service of Sales and convertion of Bitcoin into other cryptocurrency, they also provide you with wallets too where you can store your Bitcoin but then it not 100% safe because they can be hacked or hijacked by scammers or hackers. One of the best way of investing in Bitcoin especially for the long term, is cold storage. Where you buy your Bitcoin and store it in an offline wallet and keep your phrases safe enough if possible, keep it  from an online database where it can be hacked, that way you can be sure to have your assets safe for the period of time you want to keep them, they HODL till the price goes up above your buying price or till it's has given you your desired profit then you can withdraw.

Buying bitcoin is not a difficult task as it used to be for people in the past, now there are several platforms to purchase bitcoin making bitcoin investment easier for people. Bitcoin ETF has also been very helpful to investors being exposed to bitcoin without really holding bitcoin. Before investing in bitcoin newbies need to familiarize themselves about bitcoin and the risks associated with the investment. Being the most reliable crypto investment doesn’t mean it carries no risk so newbies need to understand this.

It’s volatile nature needs to be taken into consideration before investing in it, speculations will be made about it going up in a particular period but it is not reliable enough because it is just a mere speculation. Speculations come up because of its high potential to grow and yield profits but we still need to understand the risk involved so thereby investing only an amount we can afford to lose.

Op this your thread dey very informative as e contains the basics for person to take invest for bitcoin, mostly to newbies wey just join this Bitcoin world and other crypto too, just as I been talk wattin you write na basis so person still need to do more reading and research so that e no go loss for road, but with this guide I believe say e go put person for the right track make em for no go loss. When I first see the topic wattin first enter my mind na say you wan talk about the strategies to take invest for bitcoin but funny enough na guide you come provide, no be juju be that? I dey like when I see say newbie dey grow with wisdom, no be the one wey go dey spam offtopic, wattin nor even important dem dey go create multiple thread for em head. Another thing na to study hard you nor make mistakes of saving your private for the wrong place like online, and as I newbie I go advise you make you no start your investment with big money, start from small and as time goes on you fit increase your accumulation using DCA or any strategy that suites you.

Any methods wey involve say you no own the Bitcoin like you no get full control over the Bitcoin isn't advisable to Invest into Bitcoin that way. Bitcoin ETF aren't Bitcoin and you don't own any Bitcoin when you invest in that way so e no follow for ways wey me go advise to invest besides those things na for institutional investors no be investors like us. Na for people wey no wan go through the process of owing Bitcoin to Invest into the market. If you wan buy Bitcoin you can do that through CEX exchanges, P2P exchange or local marchants that you trust and store your Bitcoin for a open source non custodial wallet like hardware wallets or using an online wallet like Electrum on an airgapped devices like a desktop that has no Bluetooth or wifi connection.


Well said but diversify here no mean say make you go dey invest inside altcoins (only do this if you want to gamble because there's no guarantee when investing into an altcoin and they're more a risk than Bitcoin). Investing into assets wey no dey correlated to Bitcoin like dem no dey depend on Bitcoin to give profits na wetin be diversifying for here. The investment fit be online and offline but me I go advise offline so all your hustle no go dey online Incase anything happens you go always get fall back to investment and some of the popular ones na diversifying by buying lands or landed property like house, shops and soon on. You fit also enter transportation businesses like buying cars and putting dem on the road to drive as Uber, Bot and give you returns weekly. This kind Investment go make sure money dey your hand even in bear market.

There are many ways to invest in Bitcoin, but some methods are more effective than others. In this article, we will outline three of the best ways to invest in Bitcoin and explain why they are beneficial.
The first method is dollar-cost averaging. This involves investing a fixed amount of money into Bitcoin on a regular basis, regardless of the price. This helps to smooth out the volatility of the market and reduces the risk of buying at a high price.
The second method is buying and holding. This involves buying Bitcoin and holding it for the long term, regardless of market conditions. This strategy takes advantage of Bitcoin's potential for long..

The best way to invest in Bitcoin is a matter of debate, but there are a few strategies that are generally considered to be more effective than others. One of the most popular strategies is to use a cold storage wallet. This is a wallet that is not connected to the internet, making it much more secure than other types of wallets. Another popular strategy is to buy and hold Bitcoin for the long term, rather than trying to time the market and make short-term gains.
It's also important to diversify your portfolio, so that you're not putting all of your eggs in one basket. This means investing in other assets,

You need to be determined, focus and serious when you start your Bitcoin journey because without understanding the way it works it will be very difficult for you . The best way for you to invest in it is to follow the guide line and principles of Bitcoin  .
 * You have to join a Bitcoin exchange in other for you to know where you want to buy your Bitcoin from coinbase or Binance.
 * Get a Bitcoin wallet so that when you buy a coin it will kept save in the wallet for that is where all cryptocurency is kept saved  (Electrum or Mycelium) in hot or cold wallet ,hot wallet is not that secure form of storing coin while the cold wallet is the safest way of storing your coins.
 * Connect your wallet to your account., after getting your account, you have to connet your bank account to help you buy and sell coins, expressing if your bank account can be linked to your cryptocurency exchange account.
  * Place your Bitcoin order ,everything needed for you to purchase, and how much you should purchase  must be met by your cryptocurency exchange,some coins is sold for thousand of dollars,exchange allows you to purchase in fraction of a single coin .
  * Manage your Bitcoin investment , you have to make use of your coin for online transactions and hodli your coin for a long period of time ginves you hope, it will appreciate in value .

   Investing in Bitcoin has to do with alot of risk and its  necessary you carefully know your risk tolerance and review your investment strategy before purchasing any Bitcoin .