Topic: Economy affects Bitcoin investors. (Read 341 times)

Na just the economy wey we dey so, na e dey just affect wetin common people fit save. For me, e look like say one of the main things wey fit help make Bitcoin investment dey better for the common people na just to make sure say the naira start to gain value, so that people fit get money wey dem fit use take invest.

Or better still, dem fit get access to basic things wey them need to survive and make dem fit use the money wey them get take help their family and community. So dat way, dem go fit find am easier to save or invest. And make government create awareness about the crypto world, so that people go get better understanding and dem go see better ways to fit invest their money. So that way, even though Bitcoin still dey volatile, at least people go understand wetin to do to dey make profit even when the price dey go up and down and e go help people wey dey new to the crypto world make better decisions and dem go also know say Bitcoin no be something wey person go just rush enter, because if people get this kind mentality for crypto, even ordinary person for Nigeria go feel safe to try to invest for crypto.

   The way wey things hard now make people no fit invest because people dey find money to chop and meet up immediate needs .  The high price of things every second no fit give you mind,since you fit com dey cashless,mainly people wey get family na how them wan cope with children demands , school fees and others. But e for good make you risk am o o  because later you go enjoy mainly when the dollar increament no dey affect Bitcoin users for we country,  instead e dey add for us .

For economics we get motives  for holding money which are
1. Precautionary motives
2. Transactive
3. Speculative
 Precautionary na when u hold for emergency that is, unforseen circumstances. Then speculative na to buy something when e cheap (like bitcoin) and sell when en Dy high that is profit purpose. Then transactive na the pocket money wey We dy use for the day to day expenses. If u see the way I outline Nam u go see say u must first get money to for daily expense and emergency before u invest. investment come last. Anybody wey go invest everything wey him get into bitcoin na mumu.
Lastly invest what you can afford to loose.

Na the kind country we find ourselves, no be our fault tho the way the country difficult sometimes even to see food eat na problem, oya you come hold small money how much food stuffs, clothes and so on dey cost for market, na person wey see food eat na him go carry money invest.
I just dey observe this our country no be say we no get enough resources but I feel e dey enter wrong, Nigeria is blessed very well to certify our needs and create economy richness but the opposite na the case, wetin go up for the country no dey come down again every body get to adapt and no be say salary dey increase, same salary but increase in price of the cost of living.
Make we still dey hope say the country go better in any time from now because dey say change is constant, our economy go better na just with time and no time go dey late to venture into Bitcoin, normally we believe Bitcoin go pass down

The economy of this our country dey really affect crypto currency investors but the only thing way the investor go fit take escape the hard situation be say em gas get business or somewhere way em go fit dey earn some salaries.
Without that idea of getting any means of getting money by the weekend or month end the person can not investing in Bitcoin and hold for long because the hardship of this our country will frustrate him or her until he or she sell the coin he bought.
So the economy of this country only affect those that do not have any means of getting money from anywhere but only putting their whole hope into Bitcoin.

If you wan invest for bitcoin, e go better make u get another thing wey u dey do, if u don put all your money inside bitcoin, Wetin u go come dey eat, but if u get work or business, atleast you go fit dey use money wey u dey get from that side dey eat and u go dey use am take care of necessary things wey come, and if your pay dey okay and you still dey get money safe, u fit still dey out that one for bitcoin, no be bad idea, but if u wan depend on only bitcoin, na u go use ur hand sell all your bitcoin back because u go eat, and with d way things dey expensive now, small money no buy things again. So d best thing na make u just get another thing wey u dey do. Bitcoin investment no be something wey u go do dey expect profits in short period of time.

In my opinion I think economy doesn't effect on a bitcoin investor. Because every investor invest that amount of money which they can effort after loss. And Bitcoin is the currency if you are a Bitcoin investor then you must hold the currency for long time for a good profit. The industrial some kind of you don't have the money you have invested. That's why I think that Bitcoin investor doesn't feel that much economic effect after Bitcoin invest.

Na true you talk. Bitcoin investment no be by force but the truth be say many people Don see the importance of the investment, how atleast the thing fit add value to people life. With this value wey Bitcoin get many people have interest to invest in it but e no dey easy for them to start up to invest in bitcoin. Nobody go see how good bitcoin is and would want to miss the opportunity of not investing in Bitcoin.  The current state of the economy is really affecting people,  all people are hustling for is money to buy food and take care of their family, their is not left to invest in bitcoin.

Well, it's no news that the price of bitcoin has increased making it difficult than it was around August to invest in it. And if you don't invest now, by 2024 around March it'll be way more difficult to invest in Bitcoin.  The thing be say, first of all, to invest for bitcoin no be do or die... True, but me I no go advice anybody make e no invest in am.

Again, entering bitcoin with a get rich quick mentality is literally the most toxic thing you can do you yourself. Good things take time, and if you no understand or at least analyze market trends for Bitcoin you no go for make wise decisions. Also, there are a lot of ways of acquiring bitcoin, even here on the forum, so no pressure yourself on top bitcoin matter, but if you dey confident in watin you know about bitcoin, and you dey sure say you fit be investor, you fit burrow buy Bitcoin.  Na my advice be that.

No be lie sha but e get wetin I dey always talk. Sha e no matter how the economy bad reach people dey always find way to get one or two of our wants. Like after we dun take care of our need finish we go buy one or two clothes or do other things wey we fit live without normally, why we no fit do the same thing for investment. As you dey earn ₦50k , you wan tell me say you no fit commot ₦5k take invest for Bitcoin? If you do like dat for 10 months that's ₦50k invested so and make I say over the years Bitcoin do 10x that's ₦500k wey you dun get like that oh. Make we no dey think say wealth go just come from anywhere without we putting work into it. We need to learn to dey invest irrespective of our condition. The more the condition gets better the higher capital we Invest. Na Investment wey go take us out of that bad financial situation wey we dey find ourselves now so make we make am habit to dey invest and our financial status go change.


Valid point but make I rephrase am in another way as per when the economy dey do very well, e fit make people no reason Bitcoin self because they're doing well already. People's usually want to look for alternative ways to make money when they're not doing well financially but when them dey inside debts or not having enough to take care of demselfs they begin to look for alternative means of earning which investment becomes a top choice. Look am now, all of us here investing came because we are looking for alternative ways to make money. Na only small people wey wan secure their wealth wey dey this forum so the economy can have both positive and negative impact on Bitcoin as you talk.

The economic effects of investing in Bitcoin can be both positive and negative. On the positive side, Bitcoin can potentially provide investors with a high return on their investment. The value of Bitcoin has increased significantly over time, and many investors have made a lot of money by buying and holding Bitcoin for the long term. However, there are also some economic risks associated with investing in Bitcoin. For example, the price of Bitcoin is highly volatile, and it can be affected by a variety of factors such as government regulation, global events, and even celebrity endorsements. This volatility can make it difficult for investors to predict the future value of their investment, .


Malware is a significant risk for Bitcoin investors, and it has had a negative economic effect on the industry. Malware is a type of software that is designed to infect a computer system and perform malicious actions, such as stealing sensitive information or hijacking the computer to perform other tasks. In the Bitcoin world, malware has been used to steal funds from users' wallets, and it has also been used to hijack computers to mine for Bitcoin. This has had a negative effect on the Bitcoin economy, as it has led to a loss of funds and trust in the system.
To protect against malware, investors should be sure to use strong...

   Things don hard way be say some people now wan just  survive, the money way they keep to invest na survive them day survive on am, everything just day go up and even the least thing as data plan too follow go up,  and to beat up this whole inflation person need like 2 to 3 streams of income or if the one way Dey day generate better returns then no wam. But then the work no come day, government just put us on pressure.  With the kind thing way day sup person go need reason twice before him invest and even if he wan invest the fear of losing funds fit make invest with less capital. Government no try at all, we no know the game way them wan play.
  The  government just day sleep on us way be the citizen, niaja way day always hot for anything way Dey wan do.  We get very smart and vibrant youths way wan work way just to wait for opportunity to shine him star.  We get plenty talent way just day waist for street,  plenty innovative minds way we get for our country if our leaders invest for our head the country fit get a different turn. Plenty niaja people way day diaspora way wan come back come work for the country or even open company and business but due to our government they no fit touch down.  If you need invest now for bitcoin you need better capital to step in, you no fit use guiding money to invest for bitcoin.

Like wetin u talk earlier the country hard, everything sef follow dey get as e b so everybody no fit continue with some kind things wey dem been dey do before, e get pipo wey been dey earn like 50k before d country come hard like dis but even now wey d country don still hard na d same money dem still dey earn so dem go need to adjust how dem dey spend so dat d money go still dey reach dem.

Maybe dem been dey try put small small for d Bitcoin levels but now dem fit no dey get dat spare Money again to dey put small snall , fat is y some of dem b like say dem comot hand for d Bitcoin somtin, but normally if d country dey okay, everybody go wan invest make dem get more. many pipo jus dey try survive now dem no dey too think investment because d Money no dey and everywhere get as e be for dem but if u get e good make you dey do d Bitcoin somtin small small. Maybe for future dis Pipl dem fit enter the Bitcoin investment matter again.

I do not think that it is a lie because people wey dey other country wey economy dey good, wey their government dey help go find am easy to invest for bitcoins, nor be we for this our side wey e be say things dey hard well well, person never get enough to chop and sort some other expenses, investment nor go fit dey person mind easily. Anybody wey dey still invest for bitcoins for this our economy dey do am and na big sacrifice. Dem say make we nor dey spend the bitcoins wey we get, but e nor easy for we country.

OP as you take see bitcoin investment so, em no d finish. Peso go fit invest on am when level(economy) pure for em side. If peso miss to invest at this time, em get other bull and bearish market wey d come for the future. Make them take note of am as them go remember sae, bitcoin adoption never go globally and em get millions of people wey never get bitcoin knowledge, talk more of investing on am.

So for this time wey our economy no bam for many Nigerians to invest for bitcoin, make them no too worry themselves because the same opportunity wey dem go miss this time, go fit arise for them in the future. By that time, our economy go fit d do well(no one knows wetin go be of our economy in the future). So make everyone calm their nerves cos bitcoin never d go likewise em investment.

The economy is very hard and it is affecting every company and business,  company are dropping their workers. Prices of things in the market is increasing everyday and it is depriving people from investing in Bitcoin, people are thinking of survival first,  it is not possible for people to invest in bitcoin when people are hungry and have serious bills to pay with money. I think the best thing for people to do to be able to meet up to invest in bitcoin is to get alternative job that can generate more income.

You made me laugh when you said this Only a man that has food to eat have a means to invest, however what you said is the truth, if one doesn't have any means of survival then there is also no need for him/her to invest in Bitcoin, as we already know that Bitcoin investing is not a must, so many people that doesn't have the opportunities for now to invest in Bitcoin shouldn't think that they should talk their life's by starving them sf till death just because they want to invest in Bitcoin.
I am beginning to think that it is only those that are so dem greedy just want to invest even with borrow money or someone's money.
One should look for a better way way he or she can put food in their tables before they think to invest because if they don't have any means of feeding them selfs they will just sell of the little coins if they are frustrated.

As e dey here na so e dey for other places, make we no dey believe wetin we dey read for news or see on social media because when you ask those wey don japa dem go tell you that side no easy too. The worlds economy has been suffering especially after the COVID-19 outbreak wey make many companies dey low on cash flow and come dey sack their workers. Investing in Bitcoin no get any particular amount limitations wey be say if no be so so amount you no go fit invest. Na because we get big eye and we wan dey Invest money wey we no get na why e dey affect us. Your ₦10,000 you fit dey invest am weekly or monthly and e no matter wetin you dey earn, you fit dey commot the least and they accumulating Bitcoin. You no go see the benefits now but for future na when you go happy say you dey take the decision. I dey always tell people wey meet me for advise say use Bitcoin as your savings accounts.


To dey trade or exchange as you talk, you need to Invest first by buying Bitcoin but for the matter of investing, you no need finish with business wey you dey do to invest. That mindset go make you miss many opportunity for life and no be only Bitcoin. I dey this industry when Bitcoin cheap pass like this about ₦400,000 per Bitcoin but then I no too strong sha as I be student and never get work wey dey pay but I dun reason am say even though na ₦10,000 wey I been dey Invest, my story now for dun different. Make we no dey use Bitcoin dey play oh. You dey see that ₦100,000,000 wey people dey think say Bitcoin no for reach that's $100,000 e go just shock us like film as we go reach am pass self. Our country no need to accept Bitcoin before we invest inside, just know our politicians no get our best interest at heart so na for we to look after ourselves.

You never survive finish with the business wey him they do or the personal handwork for this our country nah to they put hope for Bitcoin wey be say our country never really accept am. For this our country nah only few people they invest in Bitcoin. People wey be say better money done enter their hand before they even think of to invests in Bitcoin. And OP make you also understand say no be everybody for this our country wey hold Bitcoin be potential investors most of them nah day to day traders or exchanges.

Only a man that has food to eat have a means to invest, don't blame people that failed to buy Bitcoin because Bitcoin is not the end of the road if they don't buy. It's a privilege if you have the means that's okay but know that not everyone have the means to invest in it. You know there is a saying that don't invest what you can't afford to lose, when the economy hit hard on some people, the only thing that comes to there mind is how to survive and how do you do that? You need food and shelter, if you find a solution for food and shelter, then you can think of investment.

Do you know that in Nigeria today, if calculate our cumulative inflation rate since the Nigeria government change government, we rise in inflation in numbers than the USA, so you should know that the cost of goods and service are not smiling on faces of people, so when you see people change and make other decisions that you think violate Bitcoin way, it's Nigeria problem even though it's not suppose to be like that in the first place.

My broda no be lie you talk, since dem born me reach now I never hear the time wey Nigerians every talk say the country economy good. Infact last year is always better than present year and next year. But sill inside the country you go see people dey do lavished birthdays, marry wives, build houses, go clubs and do dorime for clubs. Nothing comot for watin you talk if person dey do something economically the person go still see food chop, buy cloths and still do investment. If person no dey work or do business and no dey provide any form of service why the country no go hard am? Many people wey dey shout say country hard, economy do this and that na people wey no dey work or do anything. Investment na mindset and if you dey make small money from work or business you go just invest. So me I no too believe say economy do anything. 

It takes two categorical visions in considering on where, when and how to invest your money which is basically "one who is investing with the hope to solve immediate problems with the profits considering shorter term goals" and "the one who is aimed to get rich over time Considering long term goals"
So according to hardness of the economy, most investors are insighting on the goal of shorter term Investments because they certainly don't have enough to invest and let go just as you OP inspired that they fails to invest on Bitcoin.
Meanwhile... Those as said who nvested on other means for quick income were on the right track even though it may not work out as thought because there are measures of investments that proffers the opportunities to quick incomes such as hand products, conventional trading and contracting etc.
While significantly, Bitcoin investments is a trading platform that is required its investors patient whether in a short-term or a long-term investment goal as long one is aimed to make profits because the profitablity in Bitcoin investments is not gazed by individual skills but just patient.

Of course there is a raise of reasonable capital effect to Investors who are willing to Invest in Bitcoin due to the current economic situation whereby it is being uneasy to raise the least of #500 to kickstart in investing on Bitcoin and comparing the local currency naira to USD ($) that the supply for Bitcoin is being determined with.
So it is either discouraging on how an individual would struggle to realize a specific amount of capital in naira to Invest in Bitcoin but on the go every efforts would seems effortless over the inferiority of naira to USD.

You are also wrong mentally if you think that you can make investment in bitcoin and get help immediately. Everything takes time and a good investment takes long to reap a long lasting profit.
Investing in bitcoin na just like investing in any other projects, gold, real estates and the rest. What is more important to know here is that, with bitcoin investment, you’ll be assured of a good profit in the future when you invest and hold for a long time to reap the profit.


You no dey wrong for dis your statement but we no go make our weakness make us no make d right decision to make for investment wey go profit us wella in d future. With this economy situation, we no suppose for miss on the right approach wey we suppose use do d investment. The DCA method na him many people suggest and na for people wey no too get plenty money to put for d investment. Economy hard but if you fit still struggle, you go still make some money to put inside d investment. No excuse for missing out now, and not a must to d the undoable becos say you make investment too.

I no know how people dey do am oh but for me anything investment or bitcoin investment, who no get better work or wetin he dey do for a living no suppose put body for bitcoin investment, this one wey you dey call economy I no see anything wey concern bitcoin investment and economy why? Person wey no get money no fit invest no be by force sha but any person wey get little business fit start to invest regardless of the economy. I saw one thread yesterday, Akara seller don save money to start up bitcoin investment so I con surprise because even the least person wey like to invest go invest

OP, I dont think that the economy has anything to do with Bitcoin investment, if you don't have money, no one will persuade you to invest, so let's not see this bitcoin investment of a thing as a must for everyone, it is reasonable for people to invest in bitcoin when they have another source of income, don't investment your only savings, if you do that, what will you use as sustenance, we shouldn't blame everything on the economy, there are other little things we can do to make money for ourselves, it must necessarily be Bitcoin, and who even tell people that when you invest in Bitcoin, you must make money, if anyone encourage this kind of mindset he or she might be disappointed.

Anyone wey get money and fear to invest in bitcoin lack the understanding of bitcoin and dem need very serious teaching on bitcoin. And that is why people are saying that bitcoin no bi for everyone. Now there is another wey we need to know be say. You have  know the good part of bitcoin and the bad part of bitcoin before u start di journey if not you go dey crash because all your mind be say you won Hama. No bi like dat oh. The going up and down of the price sef go make you vex. And one thing be say, you go dey patient to do am if not you go vex one day and sell everything and leave di matter for matayas.

Me I know see Bitcoin investment as any political something way go be say if person no do am e go con encounter any penalty, to join Bitcoin investment no be by force and Bitcoin nah for people way get good source of living, if any investor no get were em dey receive salaries from, then there is no need for the person to invest in Bitcoin.
Some of the investors way no get any source of steady income no go fit invest in Bitcoin freely because e no go take more than a month or 2 months for the person to sell em coins off, more especially when Bitcoin just increase small, the person go rush sell them.

Na true say the economy dey affect people in many ways, plenty people dey focus more on food first make them fit chop f9rst before anything. I know plenty people wey don suspend their projects them because the money no does before unto say things do cost well well. Investment for Bitcoin also collect from the bad economy because plenty people wey suppose invest in Bitcoin never see food chop before them talk about investment.

I go advise say make wey no too reason the economy sha, make e no stop us from investing in Bitcoin even if na N20k per week or month, we fit dey run am and hunger no go kill us. Money no dey do person, the small we fit dey save now fit save us tomorrow.

Truth of di matter be say bitcoin investment and oda types of investment na secondary need dem be, so if person don chop, still get some wey im go eat tomorrow, keep transportation for work, remove rent for di month and at least health de bam, den di person fit to de talk about investment. If you no invest in bitcoin today, tomorrow or next year, di coin no de run go anywhere. After dis coming halving and ATH, other ones go still happen E no too good say make we de put our sef through unnecessary pressure sake of say we wan do investment. Make person no go get BP come suffer stroke or die because of investment wey  go still de if di person die.

Actually di economy no de friendly now, di cost of living just de skyrocket everyday, because of the rate wey naira take de devalue. Di good thing wey me i don understand about bitcoin be say na investment wey you fit to de top up, meaning say as extra money enter your hand small, you go just buy small bitcoin hold join di one wey you get. No pressure from anyone to force you to invest, because na only you get the sole autonomy to your bitcoin investment.

I think what some people don't understand is that if you want to invest in bitcoin, you need to have a business or any other place where you can make money and use that money to invest in bitcoin meaning the profits. That's why they say you should only invest what you can afford to lose, because even if the price drops, you won't feel bad about it and you won't be afraid to leave it for a long time because people who invest their capital in bitcoin are afraid of losing money because know any source of generating funds.

Bitcoin where you dey see like this know be something where people go dey rush am because any amount you fit invest am with confidence that you will make profit, but some people will struggle to get money and dey don't have any place that dey generate income dey will go and invest or try to do trading in bitcoin because dey see people doing it dey will say let them try it and later if dey lose dey will start complaining and dey will be thinking where dey go get another money because dey risk there money that dey will use for something else.

Nigerians have always been complaining that the economy is hard, but you will be surprised when someone you know buy a car and build a house and continue to live. What that is most important is that you should have a business. If you have a business that you know about, what you are selling or offering will also be increasing in price as inflation continues in a way that you will not lose but still be able to buy bitcoin.

Investment on Bitcoin is actually not a do or die investment, however one of the major challenges most people normally have is the fear of missing out to buy Bitcoin because there are people that whenever they see others investing on Bitcoin they start panicking and feeling that they could be the last to invest on Bitcoin while others are taking advantage of the market now, and perhaps before you know they will use all they have to accumulate Bitcoin without a reserve funds for them in case of emergency.

And later on due to pressing needs they would be left with no option but to sell off there investment, so this is one of the reasons why most people easily get affected by there investment, so in as much as is very important to invest on Bitcoin we should be very mindful of the funds we have and the funds are to be used on the investment to avoid future panicking.

Bro I thank God say you first use the word say the economy hard, so if person don get wattin dey very essential for life wey e need and e important pass Bitcoin at that moment make the person sef no even hesitate to package am, because na only who dey alive naim dey invest for Bitcoin oo, the dead no get any thing to do with Bitcoin. Bitcoin nor be do or die affair, normally our economy dey really dey affect Bitcoin investment, money wey person suppose to use take invest now the cost of fuel, food and living don high, the thing dey really dey touch everybody wey dey under the economy but that one no mean say we go come forfeit important things for survival go invest for Bitcoin, person wet do that kind thing go still sell em coin within short period of time to still settle those things wey e leave, so wattin come be the reason to stress our self for wattin we go still reverse.

I dont know why all di threads wey I dey comment today e dey similar, di won wey comment before dis one sef na di same economic palava with bitcoin. to say di truth, the economy disturb investors well well. I also discovered one big problem for this bitcoin investment matter and the thing be say, many people wey like to invest in bitcoin have no idea on the technology, what I mean be say, dem no know the basic knowlege of bitcoin so e dey difficult for dem to invest in the coin. And dat dollar dey go down na di gud time to invest.

My brother Bitcoin investment no be by force oo and e no be something wey go guarantee everybody success because e dey take time sef to guarantee profits depending on how the market dey go, e no be some kind of get-rich-scheme wey supposed give us escape from our financial problems all of a sudden. Bitcoin investment na something wey need time and discipline because even if we don successful hold Bitcoin wey our financial status no dey sustainable, with time we go just temper with am and then before you know use some of our holdings.

The way the country dey go so, many people way put their minds to invest into Bitcoin based on how the country economy dey very hard so them just live to invest in Bitcoin and use their capitals take do other things wey them think say go help them immediately (wrong mentality)
Some of them way try to invest into Bitcoin earlier and with the help of the kind of strategy way dem dey use they accumulate freely before, now when things dey hard even those people self they find am difficult to accumulate more Bitcoin, e dey hard to get money and e still dey easy to spend am, so me I reason am outside the box say, this our country economy done dey affect the common people way just start to invest into Bitcoin.