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Topic: Best way to invest in Bitcoin (Read 421 times)

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April 10, 2024, 07:55:34 PM
#39
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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.
jr. member
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April 10, 2024, 05:09:52 AM
#38
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Yes those are some of the ways one can buy or get bitcoin from and start the investment but they, the investors who are buying bitcoin from those exchanges should not keep the bitcoins in the Centralized Exchange Wallets but move them to a well secure wallets.

It is advisable that one should not keep their assets with third parties ie decentralized exchange as they are not safe and cannot guarantee asset safety. Not only that, if you keep your asset with them, automatically they own your asset not you because they have the keys to the wallet holding your asset and not you so if anything should happen to the exchange, your asset is gone too. It would be in a better position that you buy and  transfer to your own wallet in which you hold possession of the private key.


And add it to what op has said. Investing in bitcoin does not mean you are risking your funds but you are not and the only thing you have to do is a patient for years so you have to use money for the investment that you are not ready to use them very soon.

You are right mate. Investing in bitcoin is not about one risking their funds as we all know investment itself is one taking a risk to making profit either on a short term or a long term so therefore, it depends on the nature of the investment one is willing to take either ways and it all calls for patience if one must invest because a tree doesn't grow in one day but with time for maturity and growth.


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.
member
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April 08, 2024, 01:39:25 PM
#37
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

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.
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November 14, 2023, 04:52:42 PM
#36
to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Well, I think at some point,  bitcoin investment shouldn't be referred to as an investment in which you only put up what you can afford to lose,  that statement is now outdated because in investing in Bitcoin you don't lose your money,  and if you hold 0.2BTC,  the value remains same at all time unless you exchange it to fiat only then bitcoin value will be calculated based on the DCA value.

So I think that the best way to go about this is to say,  invest an amount that you can put aside for a long time because you don't lose money while holding Bitcoin but you may lose time because there is no specific amount of waiting time when it comes to bitcoin investment,  you have to be ready to go in for long term base and not short term speculations.
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 ?
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November 14, 2023, 02:02:32 PM
#35
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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.
sr. member
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November 14, 2023, 11:43:25 AM
#34
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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.
legendary
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November 14, 2023, 08:55:55 AM
#33
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.

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.

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,

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.
hero member
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November 13, 2023, 07:50:18 PM
#32
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.
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November 13, 2023, 06:45:16 PM
#31
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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.
sr. member
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November 13, 2023, 04:41:43 PM
#30
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

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.
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November 12, 2023, 08:48:02 AM
#29
That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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.
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November 12, 2023, 08:09:17 AM
#28
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.
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November 12, 2023, 06:45:45 AM
#27
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.
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November 12, 2023, 06:37:17 AM
#26
to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Well, I think at some point,  bitcoin investment shouldn't be referred to as an investment in which you only put up what you can afford to lose,  that statement is now outdated because in investing in Bitcoin you don't lose your money,  and if you hold 0.2BTC,  the value remains same at all time unless you exchange it to fiat only then bitcoin value will be calculated based on the DCA value.

So I think that the best way to go about this is to say,  invest an amount that you can put aside for a long time because you don't lose money while holding Bitcoin but you may lose time because there is no specific amount of waiting time when it comes to bitcoin investment,  you have to be ready to go in for long term base and not short term speculations.

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.
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November 10, 2023, 11:16:02 AM
#25
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.
sr. member
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November 09, 2023, 03:39:04 PM
#24
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
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.

One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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.
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November 09, 2023, 04:12:49 AM
#23
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.
legendary
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November 08, 2023, 07:53:36 PM
#22
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

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.

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,

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.
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November 07, 2023, 06:33:39 PM
#21
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,
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November 07, 2023, 01:57:11 AM
#20
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 .
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November 04, 2023, 10:58:18 PM
#19
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

When I first see the topic I been dey think say na buying strategy the op wan talk about buy to my greatest surprise na place to take buy the coin na the op com dey go talk about, op the thread for dey more interesting if to say you also add strategy to use to buy, as e be say no be every newbie naim sabi how to buy Bitcoin with strategy. Mostly na lump sum dem dey conversant with and this strategy no dey recommended for newbie as e fit go trigger emotional decision when the price don dey waka anyhow.

Op abeg take this correction, e no get anything like money wey person dey comfortable to loose, e no dey anywhere most especially when it come investment mata, I dey see plenty people for this forum sef wey dey make this same mistake. By right if you don do betta study about Bitcoin, you go know the possible merits wey dey for inside and by the time you fall in love with am you no go even mind to keep 70% of your total investment for inside, that is if you be long term holder. Even if na 10,000 wey you put as your investment, if the money loss for your investment way you do, e nor go pain you?(e go affect every body) because that money reach to take sub for one month. And beside that by the time you don dey dey very aggressive with you accumulation even if na DCA you dey do, small small drop of water turns to a mighty ocean, one day the money go Big reach millions sef.
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November 04, 2023, 07:44:15 PM
#18
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

Investing what you can afford to lose has become one of the most said guide about the bitcoin investment. This is been said and repeated always because of the high intense volatility of the market that is causing people to lose their money or leave the market beyond their expectations. Always have it in mind to invest some significant amount you can spare for an investment instead of having the mindset of losing the money all when the volatility is high an on the downtrend.
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November 04, 2023, 06:44:44 PM
#17

Exactly, that point nai be the main thing, to use loan money take invest for inside Bitcoin just dey like another method of higher risk, like you done reason am say, more especially those kind of loans way get here interest (nah here the whole matter dey), as Bitcoin investment no be get rich quick scheme the more the loaner dey delay to bay the loans nah the more the loan interest they increase, so no matter anything, if Bitcoin no skyrocket above the loner expectations nai be say the loaner nah go change to deptor. E better say make investor take their time create an opportunity way go fit provide them money before them invest for Bitcoin instead of to go borrow.
Using loans as capital have never been a good way to invest,  but that is what most business owners do this days,  but then this method have been one of the bullet that have been used to destroy and kill many start ups lately and the most bad one is to take loans from banks to start a business,  this have lead many into unrecoverable debt.

And to say you wanna take a loan to buy an asset as risky as Bitcoin with loans is not good and shouldn't be advised to go for and so we have to build the knowledge about the business and the risk involved in all of this because bitcoin investment is not an investment of bird with roses as many take it to be.
sr. member
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November 04, 2023, 01:15:37 PM
#16

The reason that you get that kind of statement on not to borrow to invest is that when time reach to repay, e go become problem. But for me if somebody get means to repay even when him investment crash, I no see it as something wrong especially now wey bitcoin halving dey come and that one na sure investment then after the rise to the level you want then you cash out and repay. So e depend on the investment and means to pay back.

I no fit borrow to buy any altcoin though, only btc and na for only this season wey we dey expect bull run.
Na the thing be that,  I am not against taking loans to invest in bitcoin,  but not that loans as capital for invest in general is not a food approach most especially those loans that come with high interest, that is so because at some point inline you will discovered that,  you already existed the entire essence including the profits while repaying the initial loan amount and the high interest,  this at most make it seems as if,  it is better to take interest-free loans which are not easy to find this day,  unless through government grants which most times doesn't get to the citizens of the state,  so unless the loan amount is from either family or friend and a 0% interest with long terms duration.

That is the only time, that taking a loan to invest in Bitcoin should be most considered and anything outside that is no longer a suitable financial intelligence and not a good approach to Bitcoin investment.
Exactly, that point nai be the main thing, to use loan money take invest for inside Bitcoin just dey like another method of higher risk, like you done reason am say, more especially those kind of loans way get here interest (nah here the whole matter dey), as Bitcoin investment no be get rich quick scheme the more the loaner dey delay to bay the loans nah the more the loan interest they increase, so no matter anything, if Bitcoin no skyrocket above the loner expectations nai be say the loaner nah go change to deptor. E better say make investor take their time create an opportunity way go fit provide them money before them invest for Bitcoin instead of to go borrow.
jr. member
Activity: 238
Merit: 7
BTC Lover|Crypto Educator| We Grow by Learning!
November 04, 2023, 01:05:03 PM
#15
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

I mostly use Dual Investment on bitget. It works well for me
member
Activity: 212
Merit: 12
November 04, 2023, 11:25:12 AM
#14
If you're considering investing in Bitcoin, there are a few things you should keep in mind.
(1), it's important to do your research and understand the risks involved.
(2)The value of Bitcoin can be volatile, and there is a chance that you could lose money.
(3)That said, if you're comfortable with the risks and have a long-term perspective, Bitcoin could be a good investment.
On the best way to invest on Bitcoin, one needs to be very calculative and must be a best predictor so as to enable you figure out the best time to invest without a mistake.
One of the best ways to invest in Bitcoin is to use a reputable exchange. You can buy Bitcoin on a number of different exchanges, and you'll need to choose one that's reputable and secure.
Once you've found a reputable exchange, you'll need to set up an account and fund it with your chosen currency. Once your account is funded, you can place an order to buy Bitcoin. You'll need to decide how much you want to invest and how you want to store your Bitcoin. Some exchanges offer built-in wallets, while others require you to set up a separate wallet. It's important to choose a secure wallet, as there have been instances of exchanges being hacked and funds being stolen.
You'll also need to decide how long you want to hold onto your Bitcoin.
sr. member
Activity: 336
Merit: 365
The Alliance Of Bitcointalk Translators - ENG>PID
November 03, 2023, 03:26:03 PM
#13
That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

Do you feel comfortable after losing money? I believe that viewpoint is outdated, especially considering Bitcoin's track record as a less risky investment in recent years. Many individuals can attest from their experiences that Bitcoin, among all cryptocurrencies, holds significant profit potential, making it a prime option for investment. You can steadily acquire Bitcoin through various methods, including Dollar-Cost Averaging (DCA), a strategy recommended by many community members. The key is to select the approach that suits you best, depending on how much you can sustain. The overall goal is to hold onto Bitcoin for an extended period and possibly learn how to secure your funds.
hero member
Activity: 1022
Merit: 667
Leading Crypto Sports Betting & Casino Platform
November 03, 2023, 02:41:05 PM
#12

The reason that you get that kind of statement on not to borrow to invest is that when time reach to repay, e go become problem. But for me if somebody get means to repay even when him investment crash, I no see it as something wrong especially now wey bitcoin halving dey come and that one na sure investment then after the rise to the level you want then you cash out and repay. So e depend on the investment and means to pay back.

I no fit borrow to buy any altcoin though, only btc and na for only this season wey we dey expect bull run.
Na the thing be that,  I am not against taking loans to invest in bitcoin,  but not that loans as capital for invest in general is not a food approach most especially those loans that come with high interest, that is so because at some point inline you will discovered that,  you already existed the entire essence including the profits while repaying the initial loan amount and the high interest,  this at most make it seems as if,  it is better to take interest-free loans which are not easy to find this day,  unless through government grants which most times doesn't get to the citizens of the state,  so unless the loan amount is from either family or friend and a 0% interest with long terms duration.

That is the only time, that taking a loan to invest in Bitcoin should be most considered and anything outside that is no longer a suitable financial intelligence and not a good approach to Bitcoin investment.
hero member
Activity: 2478
Merit: 621
Leading Crypto Sports Betting & Casino Platform
November 03, 2023, 01:02:27 PM
#11
to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Well, I think at some point,  bitcoin investment shouldn't be referred to as an investment in which you only put up what you can afford to lose,  that statement is now outdated because in investing in Bitcoin you don't lose your money,  and if you hold 0.2BTC,  the value remains same at all time unless you exchange it to fiat only then bitcoin value will be calculated based on the DCA value.

So I think that the best way to go about this is to say,  invest an amount that you can put aside for a long time because you don't lose money while holding Bitcoin but you may lose time because there is no specific amount of waiting time when it comes to bitcoin investment,  you have to be ready to go in for long term base and not short term speculations.

People usually talk about how one can burrow to start a business and some Bitcoin speculators believe you shouldn't burrow to invest in Bitcoin. Now considering what you just said about how one won't lose their money in Bitcoin of course with the right knowledge and all, is it advisable to burrow money in order to invest in Bitcoin ?

When investing in Bitcoin, you may loose time due to the fact that you may not have the necessary income to invest at the particular moment. With the current situation in the country too, savings may be difficult, and we all know that the price of Bitcoin would according to experts, increase as the years go by. So,with all these factors would the best way of investing in Bitcoin to burrow or take private loans from whales ?

The reason that you get that kind of statement on not to borrow to invest is that when time reach to repay, e go become problem. But for me if somebody get means to repay even when him investment crash, I no see it as something wrong especially now wey bitcoin halving dey come and that one na sure investment then after the rise to the level you want then you cash out and repay. So e depend on the investment and means to pay back.

I no fit borrow to buy any altcoin though, only btc and na for only this season wey we dey expect bull run.
member
Activity: 224
Merit: 24
November 03, 2023, 08:35:36 AM
#10
to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Well, I think at some point,  bitcoin investment shouldn't be referred to as an investment in which you only put up what you can afford to lose,  that statement is now outdated because in investing in Bitcoin you don't lose your money,  and if you hold 0.2BTC,  the value remains same at all time unless you exchange it to fiat only then bitcoin value will be calculated based on the DCA value.

So I think that the best way to go about this is to say,  invest an amount that you can put aside for a long time because you don't lose money while holding Bitcoin but you may lose time because there is no specific amount of waiting time when it comes to bitcoin investment,  you have to be ready to go in for long term base and not short term speculations.

People usually talk about how one can burrow to start a business and some Bitcoin speculators believe you shouldn't burrow to invest in Bitcoin. Now considering what you just said about how one won't lose their money in Bitcoin of course with the right knowledge and all, is it advisable to burrow money in order to invest in Bitcoin ?

When investing in Bitcoin, you may loose time due to the fact that you may not have the necessary income to invest at the particular moment. With the current situation in the country too, savings may be difficult, and we all know that the price of Bitcoin would according to experts, increase as the years go by. So,with all these factors would the best way of investing in Bitcoin to burrow or take private loans from whales ?
hero member
Activity: 742
Merit: 529
November 03, 2023, 01:59:33 AM
#9
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Investing in bitcoin does not mean you are risking your funds but you are not and the only thing you have to do is a patient for years so you have to use money for the investment that you are not ready to use them very soon.
When investing in bitcoin you are risking your funds, ultimately when you're investing into anything be it bitcoin, stock, bonds, real estate, gold etc you are taking a risk as it is not 100% certain you are definitely going to make profit from it. An uncertainty can emerge out of the blue which can vaporize your investment to zero. The only dissimilarity in all is that every investment has its own level of risk and which for bitcoin the risk isn't that high but that doesn't mean it's doesn't possess a risk.
full member
Activity: 560
Merit: 161
November 02, 2023, 05:32:51 PM
#8
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Bitcoin market is volatile in nature but some beginners do not know this because they do not seek for understanding first before investing in Bitcoin. Beginners just enter the market and predict thinking that they will be able to make the amount of money as they have wished. I think understanding Bitcoin better will make people to take a better decision before entering the market,  knowing that the Bitcoin price is unpredicted which beginners needs to be patience to hodl to achieve their target. If beginners tries their best to understand the volatility of bitcoin they won't be desperate to make profit.
sr. member
Activity: 728
Merit: 421
November 02, 2023, 04:33:00 PM
#7
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Yes those are some of the ways one can buy or get bitcoin from and start the investment but they, the investors who are buying bitcoin from those exchanges should not keep the bitcoins in the Centralized Exchange Wallets but move them to a well secure wallets.

It is advisable that one should not keep their assets with third parties ie decentralized exchange as they are not safe and cannot guarantee asset safety. Not only that, if you keep your asset with them, automatically they own your asset not you because they have the keys to the wallet holding your asset and not you so if anything should happen to the exchange, your asset is gone too. It would be in a better position that you buy and  transfer to your own wallet in which you hold possession of the private key.


And add it to what op has said. Investing in bitcoin does not mean you are risking your funds but you are not and the only thing you have to do is a patient for years so you have to use money for the investment that you are not ready to use them very soon.

You are right mate. Investing in bitcoin is not about one risking their funds as we all know investment itself is one taking a risk to making profit either on a short term or a long term so therefore, it depends on the nature of the investment one is willing to take either ways and it all calls for patience if one must invest because a tree doesn't grow in one day but with time for maturity and growth.
hero member
Activity: 532
Merit: 508
Leading Crypto Sports Betting & Casino Platform
November 02, 2023, 04:20:54 PM
#6

One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.

Well, I think I have also used that slogan of investing what you are willing to lose, but I think that statement fits better for altcoin investment, but when investing in Bitcoin, the correct slogan to use is "only invest the amount that you can be willing to hold for a long time." Bitcoin is a volatile asset; no one controls the price, and no one knows what the price can be in the future. But if you invest in Bitcoin and hold it until the bull market, you will make a profit. But if you invest in altcoins alone, be aware that it's not all of those altcoins that will pump like you speculate; some of thos projectan you invested on can even fail.

 "Invest what you can afford to loss, " Could also be used on traders.
legendary
Activity: 1512
Merit: 4795
November 02, 2023, 03:36:46 PM
#5
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.
That is in short term. In long term, bitcoin is a store of value and a hedge against inflation.

That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
My advise is to invest at the appropriate time. Like this time. Also to invest an amount that will not affect you. Assuming you are earning ₦200,000 weekly, you can invest ₦10000 to ₦20000 using NCA. Bitcoin holding is not gambling that you can use the amount that you can afford to lose to do, bitcoin is an investment.

Bitcoin ETF have not been approved so that option is not available yet. There is expectations that it will be approved by January and only then will that option be available.
Remember this is Nigeria, not United States. Although, there is also nothing called bitcoin spot ETF in Nigeria for now. There is bitcoin future ETF, but which can not be referred to as an investment, unlike bitcoin spot ETF. Bitcoin future ETF is approved in United States. Bitcoin spot ETF has not been approved by United States SEC, but it has been approved in countries like Canada and Europe. What makes United States bitcoin spot ETF very important to people, especially bitcoin enthusiasts is because United States stock market is dominating by over 60% in the world.
hero member
Activity: 700
Merit: 577
Eloncoin.org - Mars, here we come!
November 02, 2023, 02:46:29 PM
#4
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Yes those are some of the ways one can buy or get bitcoin from and start the investment but they, the investors who are buying bitcoin from those exchanges should not keep the bitcoins in the Centralized Exchange Wallets but move them to a well secure wallets. And add it to what op has said. Investing in bitcoin does not mean you are risking your funds but you are not and the only thing you have to do is a patient for years so you have to use money for the investment that you are not ready to use them very soon.
sr. member
Activity: 322
Merit: 250
November 02, 2023, 02:43:08 PM
#3
You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
Bitcoin ETF have not been approved so that option is not available yet. There is expectations that it will be approved by January and only then will that option be available.

One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
As a Nigerian, options available are many such as Binance p2p, Remitano, Luno and the various centralized exchanges. I don't know any decentralized exchange that it is possible to buy with Naira. Even if there is, I feel it is a long process because of the challenge of accessing dollar in Nigeria. 

There are also notable people even in this forum that one can buy from at good rates, however, it is always best we consider options that are fine for us.
hero member
Activity: 1022
Merit: 667
Leading Crypto Sports Betting & Casino Platform
November 02, 2023, 02:24:56 PM
#2
to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
Well, I think at some point,  bitcoin investment shouldn't be referred to as an investment in which you only put up what you can afford to lose,  that statement is now outdated because in investing in Bitcoin you don't lose your money,  and if you hold 0.2BTC,  the value remains same at all time unless you exchange it to fiat only then bitcoin value will be calculated based on the DCA value.

So I think that the best way to go about this is to say,  invest an amount that you can put aside for a long time because you don't lose money while holding Bitcoin but you may lose time because there is no specific amount of waiting time when it comes to bitcoin investment,  you have to be ready to go in for long term base and not short term speculations.
newbie
Activity: 35
Merit: 0
November 02, 2023, 02:18:38 PM
#1
So many options to buy Bitcoin, you can decide to buy directly through exchange like binance or Coinbase. You can also make use of the Bitcoin focused investment vehicle like a Bitcoin ETF or like Grayscale Bitcoin trust.
One thing you must know when taking a decision to invest in Bitcoin .It's highly speculative investment.  That's why it's more advice able to invest the amount you are comfortable losing.as Bitcoin price go up and down this season by hundred of dollars.
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