Topic: I trust BTC more than I trust my bank (Read 141 times)

Well op btc na something wey every body kn eath should put thier investment in we all no say the way we tak get trust in btc we no fit trust bank like that and na wetin dey pain the government be that say our eyes don dey open we don commt body banks matter and e dey pain dey very well sah this era we dey now  we all no suppose loss guide

I did not capture all what you are saying in the context of your post but the area i will emphasize is where you said you have channeled all your energy to bitcoin. Bitcoin is not a coin you invest in and make profit immediately, so it takes time and cannot make you rich quickly unless you hold for long and acquire a lot of it. I won't advice anyone to completely give their energy to bitcoin investment alone, so as you are investing in bitcoins make sure you also have Fiats in your bank account so that any immediate needs that pop up, you can attend to such situation. Invest with what you can afford to lose even though you trust bitcoin so much that's just my advice.

It is true that you don't have to invest all your money into bitcoin at when you have a job it is better to just invest with some of your salary it will better because you don't have to spend all your salary but you can choose to set some money aside to so that you will be able to set aside some money to build your investment and that way it make everything very easy for you Because that way you'll be able to do what they call DCA and also be able to accumulate gradually.

A lot of people find it very hard to actually be able to invest in bitcoin because of the amount of money they will spend in acquiring it but everything is about planning when you plan yourself. Well, I don't think you should have a problem with your investment, especially for tools that are working Because you have a source of income already and you can transfer all the money to your bitcoin investment, which makes it very easy to invest.

Since nah Watin you believe on you they invest you money on, then you no get problem as long as nah your own money no be another person own and you no borrow am you get the right to carry am do anything way you wan do, but just also know say even as bitcoin they add value sometimes they increase for price you fit still need to make use of your money today make the price don drop way go make you sell below where you buy am I also hope say you they aware of that one.

Because you trust BTC more than your bank doesn't mean other should like BTC more than their banks, if truly you are banking with legit bank in the country, you will know that there are some banks you will trust in banking with and your money will be safe in their hands. Not that I'm against BTC, but don't invest all your money in BTC just because you trust BTC, and if anything happen to BTC today by disappear from the industry, there is no way you can get your money back from BTC, which are some of the disadvantage of putting all your money in BTC.

I have make so much profits from BTC than bank, which I will not denly that from BTC because the years you hodl your BTC will determine what you are going to earn when the bull run take over the market. But there are some banks that will not add interest into your  money even though you leave your money in the bank for 10 years, and if you leave your money in BTC in 10 years, you will earn a lot of profits from BTC.

You should not compare Bitcoin with your bank. So I don't think the sentence you trust Bitcoin more than your bank works. I will assume that you have more of your funds in crypto-currency (Bitcoin precisely) based on your post, With that regards you now become your own bank. The comparison should be you trust yourself more than you trust the banking system.
Crypto-currency helps us to become our own bank.

Bitcion is a valuable asset for every person.In this generation.but still yet you need to still work with your bank,and make your Bitcion as you future asset or investment.Then you make your bank as your daily usage.

that is exactly what I'm saying,investing in BTC is not just what you think in other ways BTC it is also away of saving money that yield profit in return,but saving money in the bank can't give you up to 1% of the amount money you have put in,imagine saving hedge amount of money like 20,000000 in the bank for 5 years and what the bank have added to your money is 500 as profit is that a good save,no it's a good save,now imagine putting that 20,000000 in BTC for 5 years wetting you go even see as profit go give you over joy and everywhere go stew friends and family go smile,how you see,now BTC

This one fit be important hedge when assets like Bitcoin enter the mainstream for country economy. For people wey get hold of am like us wey dey focus on long term investment e go give financial independence. If you get good portfolio through steady savings e fit give you financial security. Most of the time investing in Bitcoin best and smart decision. You no suppose too poor to get decent holding. You suppose dey save Bitcoin for the future, to protect your family and at the same time make you dey wealthy.

Am glad you have reiterated your stand with cryptocurrency's number one, Bitcoin and as excited as you are OP, the reality may not be as it seems when you get to delve fully into BTC investment and holdings.
Also, BTC isn't a financial institution like a bank stands to represent, but rather it is a currency of value used for exchange upon completion of transactions and even as a strong hedge against inflation. While a bank is responsible for savings, disbursement, printing of fait currency, and other transactions that are monetary, the Blockchain network and your personal wallet, be it cold or hot wallet is responsible for your crypto currencies of which includes Bitcoin, etherum, Solana and other shitcoins as well as meme coins.

It is also to note that trading BTC might not be as profitable as holding or accumulating it over a duration spanning years to almost a decade, and as such it is good to understand and use other altcoins that can ensure good profit if traded in the market or used for exchange and payment upon completion of transactions.

One thing I will advise OP is that you shouldn't use money for your important need to invest in bitcoin, but with money that you wouldn't need for a long time. This will enable hodli for long as you keep on increasing your bitcoin portfolio. This will prevent you from selling your bitcoin early at loss before your own will. Set up your emergency funds to take care of unforeseen circumstances that might come up. Be your own bank with bitcoin and enjoy your future.

OP, your belief in Bitcoin is very deep, and as an investor, it is very important to have complete faith in Bitcoin. However, one thing must always be kept in mind, every investment involves risk, there is no investment without risk, so I think it is not wise to take excessive risk in a single investment.

Because the way you are investing almost all your income only in Bitcoin, instead of investing like this, (if I were in your place) I would invest half of my current investment in Bitcoin, and the remaining half in some business. I am not giving you any advice, do your own research, and do what feels good to you.

Bitcoin can bring you skyrocketing profits in the long run, and sometimes it can also cause a big crash, this can never be said for sure, because the movement of Bitcoin is not one-way and the movement of Bitcoin is completely unpredictable. Market ups and downs are natural, so it is always good to have a backup plan. Because no matter how attractive the Bitcoin price increase is, its market is very volatile and undergoes many unexpected changes.

Your friend's perspective is not bad, even if Bitcoin is in a strong position now, it is not possible to say for sure where its price will go in the future. And yes, we all believe that Bitcoin will go far in the long run, but there is no guarantee of this, because Bitcoin never guarantees a sure profit.

So you should do better research, and invest in the right way. Instead of investing in Bitcoin alone, invest in other places such as businesses along with Bitcoin, so that your financial stability is maintained during any disaster.

I no think say any competition de between holding BTC and saving fiat in your bank, di two of dem get dia different benefits. Bitcoin na decentralized digital cash wey be alternative to fiat, as di adoption never reach for people to de accept am as payment, most people de hold am as a store of value. Dis na because of im potentials as asset wey de reach new ATH for every bull run. Meanwhile money in di bank de important for day to day expenses, almost everybody get bank account and you fit to make quick transfer for payments. Also e de risky to hold all your money for hand because of misplacement and thefts, so Banks de important.

Di major advantage wey Bitcoin get over fiat be say na hedge against inflation and on di long term e go de generate ROI ontop your capital. Bitcoin de profitable to hold but we need to understand say if your income no de enough to de put some money aside to invest in am, e de better to leave am for bank and take care of your immediate needs. Bitcoin na volatile asset that na why e de better to hold am for long term so that you go de sure of profit during bull circle.

It was hard for me to convey your point, but still I think I understand your point. Yeah, most of our grins tend to try their best to see we don’t fall victim to crypto scams. I think that is why your friend is telling you to stay away from bitcoin, but most of them that give such advice have zero knowledge of what bitcoin really means; they just hear rumours about it or see it on social media, so most of their advice is not relevant because you are meant to take advice from someone that has experience with what they are advising you about, not make mistakes.

You made a right choice in having more trust in bitcoin than fiat because bitcoin will not only make your money safe but also make you have profit with time. That is why it is encouraged to invest in bitcoin for a long time. This will help you to have a long-term profit, but keeping money in fiat will not come with any profit unless there is an unnecessary debit from the bank, so-called bank charges, but still you have to be knowledgeable about bitcoin before you can fully trust it because most people tend to make mistakes themselves, thinking it is the fault of their investment, and they will end up feeling discouraged again, so knowledge is the key to success.

There are core values Bitcoin and that of our bank stand for which I don't think it should be a fight but to work hand in hand make life better, if na true say you dey invest almost all part of your income in Bitcoin, my friend I go tell you say na very wrong thing to do because it will affect your emotions so bad that you can not be able to hold it for long term especially when the market dey go down, invest but always make sure you take care of your important needs and prepare emergency funds too, since na long term if you can consistence no matter how small with time it will become very big. Make we dey use btc do watin we wan do and use the bank watin do we wan do too.

E good say you trust Bitcoin but dat your guy no too de wrong sha, them no dey put everything like da for investment,  because sometimes some pipo dey carry money wey dem go use eat put for investment later you con dey regret because some times sef na 50/50 so u sef gets mount your guard.  One advantage wey bit coin get over Fiat na say Bitcoin they fight inflation and so e no dey too affected by inflation

Op before I dive into the main discussion I go like advise make you pay attention to your writing style and how you arrange your words, especially with comma's and yet no spacing it really bad to read and some users could just abandon your post if they see many errors like that even tho the post is making meaning.

Onto the main topic. BTC nah necessary financial digital asset wey every young man in this generation supposed hodl as part of him investments. But while doing so In as much as all of us here trust the cryptocurrency make every individual no fail to invest only wetin him go fit afford to lose, and wey you fit get patient to hodl as long as necessary to make profit. Because the uncertainty of the market no dey for anyone person hand to decipher.

My friend was like this one wey you carry all your energy and almost all part of your income dey invest in BTC make BTC no give you high blood pressure one day oh no say I no warn you oh,I was like see this one me wey trust BTC pass my bank, BTC is a typical example on how human being dey take dey crate value for them self no be rational currency,like fiat money oh everything about BTC now legit one,the Bola tile history clear,market value clear,store of value clear,so wetting you won tell me again,and him come say since you are investing in what you believe there no problem,and me too told him believe what you know my trust for BTC ney wetting dey motivate me into the future mostly now wey we dey bull run.