Topic: If you do this can you hold bitcoin? (Read 526 times)

Base on the knowledge have gotten so far concerning bitcoin holding and Accumulation. At first one need to be aware of the 9 principle individual factors . This was actually created by a high rank members in this forum to enlight some newbies or anyone that are interested in investing in Bitcoin, one thing about bitcoin investment, it doesn't require any complex knowledge like that of trading. So one just need to have the basic knowledge on how bitcoin or bitcoin investment works.

So one don't actually need to sell all he have to start accumulating or investing in Bitcoin, aslong one have discretionary income he or she is good to go , he or she can use DCA strategy to start accumulating bitcoin, without bothering or thinking of where to see large amount of money to purchase bitcoin in large quantities, because if one choose to go all in with his money without having any reserved funds (emergency funds) , such investment won't last because that same individual will eventually endup selling his investment (bitcoin) too early.

The best advise wey you go give person now na to use his or her spare funds to invest in bitcoin gradually using DCA strategy, unless em get lumpsum wey em reserve and em no depend on am for em daily activities. To sell land buy BTC now no be better financial advise ooo, land too na asset and depending on where the land dey, some lands dey appreciate in value pass BTC, so make OP be wary of the kind financial advise wey em dey give people.

No be only if em never plan to use am, If em no get other spare funds wey em fit fall back to in the event of emergency, make em no try use am invest, because em dey obvious say when any emergency comes, em go break em investment and that no be good bitcoin investment as far as say you no invest for a longer period of time.

you don forget say na person introduce am to the forum and ther person fit don tell am everything wey em stand to gaain from the forum even before em register em account, so such informations no dey surprise me again. Also not every account wey you see here na new account, some of them na alt accounts.

All diswan wey u don mention now na how to take acquire bit coin, no be how to take hold am, if you dey talk about how u wan take dey hold Bitcoin, you supposed dey talk about wallet a d timing probably d circle of Bitcoin, d best time to buy am and d best time to sell am, all dis tinz dem follow for how u go take hold Bitcoin well come make money from am. To just get am by any of d means dem wey u don mention alone no go make you money if you no understand wetin u dey do. Now after u don get Bitcoin if u no understand d time wey dem dey use check d market to buy and sell, den u no go fit really make money from am because u fit go buy for bear market  and u go loose money but if u buy for bull u go make gain when u hold, all dis na wetin we dey discuss wen u dey talk about to hold Bitcoin.

Wallet na one very important tin u need before you go even think of to acquire Bitcoin, I'd u no get wallet, you no fit aquire bit coin because where to hold am out no go dey, den very importantly you need to learn how to know d types of wallet a d d type wey go good for d kind tin u wan use am do for d Bitcoin mata. If na say u wan just hold, den u no need put ur coin for exchange wallet but if say u wan sell ASAP na exchange wallet you go carry your coin put. Plenty oda tinz dey wey u need know so dat u fit hold Bitcoin well but first get wallet buy put or acquire in other legit means possible den learn how to make profits from Bitcoin.

If you want to become a holder or investor of Bitcoin you can use two methods. First if you have a lot of money you can invest in Bitcoin with a lump sum of money which is very expensive for you. The second is that you can start depositing bitcoin regularly with a portion of your income every week or month with any amount you can afford. But in this case it may take a long time to get your desired bitcoin stash but gradually you can increase your stash and size over time.

The decision to invest by borrowing money may not be good for you because the price of Bitcoin is volatile and its value may go downwards at any time so you should not take any risk. Your goal should be to keep accumulating bitcoins from your own minimum assets at regular intervals and for a long period of time.

If it is in Nigeria, then you most likely have a budget to even do that because there is no point in saying that if you are a civil servant, you can sell out your property to invest in bitcoin. I don’t say you will not get a profit, but to me, it is very risky. Because if you depend on a salary in Nigeria and sell your properties to invest in bitcoin, your mind will be focused on the investment, and anytime you have an emergency need of money, the first place to get some funds is definitely from that investment that you made, which means you might even sell your bitcoin at a loss. It might be considered, but to me, I don’t think it will be a nice idea to seal your properties just to invest in bitcoin. That is somehow dangerous from my perspective.

Teaching people how to earn and own a bitcoin is not bad but next time you want to teach people make sure you carry out research properly and understand properly what you are teaching. First two ways you mentioned were okay but your third method of acquiring bitcoin is a wrong move, owning a bitcoin is not a do or die thing so there is really no need to sell your land or property to buy bitcoin if you don’t have the money yet you just have to find a work or other means rather than selling a property or borrowing money to buy bitcoin. Landed property is also an asset that can make you profit in years so it is also a valuable asset too.

Next time Learn first before you spread wrong information, this is why newbies teachings are not considered valuable

Op, it is true that we can hold bitcoin in the ways you mentioned in your post, but if newbies or new investors do that alone, they will not hold their bitcoin for a long time. Newbies or new investors in bitcoin investment should also make plans for emergency funds, reserve funds, and floats for up to three months if they want to hold bitcoin for a long time. These funds will allow them to solve their unforeseen problems anytime they arise, and they will not depend on selling their bitcoin to solve the unforeseen problems. From time to time, they can rebuild their emergency funds, reserve funds, and floats so that they can serve them for a long time.

The price of Bitcoin depends on the stock market and is considered to follow its trend. Because Bitcoin price movements are so volatile, sometimes thousands of dollars in movement are at risk. So depending on your total assets you have to invest money in Bitcoin by adopting an analytical method. You think you have enough money deposited in your bank account, you have high-priced land, you have a lot of decorative jewelry at home that you can use to buy bitcoins, but all these things are your only concern, it's just an approach. But I think investing in Bitcoin according to one's ability is a sign of a person's intelligence.DAC technique can be adopted in this case. It will ensure you get the right knowledge of Bitcoin through DAC method. If we go a little deeper into the discussion, we can see that today a large group of people in the world are investing most of their money in Bitcoin.

One thing that I want some newbie should understand is that, the risk wey this person took to make am for life, if another person try to copy am e fit die or end up losing. You saw someone sharing secret about his wealth doesn't mean you should follow his step to go and sell any of your property. Even in a situation where they want to sell property to accumulate Bitcoin, the newbie need to understand more about Bitcoin because I have seen such thread in this forum where person say him sell some of his father cow to buy Bitcoin and he made a huge profit at the end of it. My advise be say make we dey avoid some of this information, there may be some newbie wey stubborn to go and sell his father properly and end up losing. If any newbie want to sell their property to hold Bitcoin, it should be property wey be say even if they lose the money nobody fit question am. Make person no go sell family land con dey explain without evidence.

As naija dey so, you think say people still dey to get mind save money in their bank account just to start Bitcoin investment? Dem fit dey but it will be difficult to find one. All of us just dey struggle to hold Bitcoin without spending our savings.

Op, the three thing you mentioned are absolutely correct most especially the signature compaign though not everyone is being paid in Bitcoin there but one can still invest in Bitcoin with what he or she is been paid every week. I see people talking about the DCA method, how do they think this DCA method will work if one is not doing anything that will be fetching them money, those people who are into signature compaign are in a good position to be DCAing though not every member cause they don't receive equal payment.

Moreover, Bitcoin is a very nice investment and not just a nice investment but a genuine and a legit but what we don't know is when it will give us a desired profit cause of it's volatility that is why it is safe to invest and hold for long period of time. Selling of land to invest in Bitcoin is not really a bad idea cause there are things to consider or check for carrying out that decision and they includes:

1.  How many plot do you have; there are people who has more than 3 plots of land so in this case selling one to invest in Bitcoin is not a bad Idea.

2.  Is the plot rightfully your own; most people sell other people's property without the awareness of the owner and this may lead to very problem and is not advisable to do so but if on the other hand the plot belongs to you, you can go ahead with any decision.

3.  Check where the plot is been located; there are some plot that is/are located in a very bad area, maybe where there's crisis, underdeveloped area, a swampy area. At this point in time one needs to check the duration of those places I mean how long it is going to take those places to change to a nice and conducive place by visualizing, but if it's not worth it, one can go ahead to invest in Bitcoin even though we don't know what the investment will look like but no how, no how Bitcoin is going to rise and one will definitely make a huge profit cause sometimes the period of time it will take Bitcoin to give someone a nice profit maybe less compare to the period of time it will take a place to be developed and some crisis don't stop easily.

Good for the person because e no really dey easy to sell land when na property separately carry invest for bitcoin maybe  because the person know the value of bitcoin and bitcoin no dey like other investment wey profit no fit come out, many things dey to do wey person fit use accumulate bitcoin and selling of properties na the least thing, I no know if you understand my point, you fit sell your land or property today and you fit still need am urgently some other times so in that case how you wan do as an investor? And if you think to sell your bitcoin during that time when market dey low I believe say you go lose profit. Bitcoin market na something you no fit predict correctly so for my opinion you fit work buy bitcoin and you gave nice examples also like the forum, I believe when the money dey investment strategy no go be problem because you fit choose any strategy wey suit your investment.

As I dey read the post I just dey shake my head dey smile cause this advise no work at all.  Land on it own na asset wey no dey depreciate in value no dey even volatile sef lik bitcoin rather every day na so the price of land anywhere dey gain value, na that kind asset you dey advise make person sale take buy bitcoin. Na like telling person to invest more than he can lose nah. Mainly, any money we dey use buy bitcoin it suppose be money wey we don make up our mindset say na 50/50 anything can happen and not the way op the use talk am.

I will introduce investment method with income source as the best method to hold Bitcoin. I would discourage investing in Bitcoin by selling land. Because, it can cause you to lose everything. There is too much risk here. If you have a large amount of land, you can sell a small amount of it and invest in Bitcoin. But you must be a long-term investor. You can join the signature campaign by promoting yourself from this forum and deposit the received bitcoins as reward. I would consider this method to be the best method.

My brother e never reach for abuse or derogatory question. Op just added selling of land at the extreme of how person fit still hodl btc and he gave an example of that. However self, that no dey impossible because people dey different and get different believe on btc. Afterall na person still take him btc take exchange for common pizza, that person no believe say btc go rise reach as e dey today now. So likewise, person wey believe say btc go rise pass the value of him land in the near future fit still sell to buy btc. I'm sure some people for sell wetin dem get to take buy btc if dem know say the price go skyrocket reach as e dey so. Therefore, it is a view which is not impossible only say the price of btc don dey too high for that kind of adventure.

You fit still buy Bitcoin directly anytime wey you get money and they hodl am for your address (inside custodial wallet). Saving in banks no sure again because when you wan collect the money, e go dun reduce. Different bank charges go dey devalue the amount wey you keep with them. As far say the money fit buy Bitcoin well (after buying still pay for service and transaction fees), you am buy Bitcoin. No be must to buy from exchange, you fit do P2P exchange and get the Bitcoin for your wallet.


No lie there but no over put hope as signature no dey guaranteed, say you build your account to full member and above no means say signature slots dey wait for you. This part of the forum dey so congested wey be say you fit grow your account finish but to get campaign fit be wahala. Plenty account dey out of work and if na only here you hope dey e go hard to dey keep up oh for your investments plans dem.


Bitcoin na actually the trending Investment and na where trend dey na that place dey get better returns fast. Land investment no bad but you fit buy that Bitcoin, make profits and rebuy your land back although make this investment no be your last hope because e get times wey market fit fall to the extend you fit dey tempted to sell as you put all your hopes for the investment. The koko be say anything wey you dey do, make you dey get other options and no make am your only hope.

Anything wey you do to invest in bitcoin dey okay until you go invest something wey you no fit lose, or get replacement for am at the time wey you wan use am. Bitcoin no get problem with you investing in am o, but just know say, e no go because you invest your inherited money or one kind big money wey you need big return soon e go come go double immediately or sooner. E go take the normal time way e suppose do before you go come take your big profit from the thing and dis one no be say na prayers dey make am work like that. E get consensus wey e dey follow and if e no follow that consensus, e no be bitcoin e be again. Invest wetin you know say you no go need in the coming years when bitcoin no go don mature reach the time wey you go harvest am, so invest wisely. 1BTC go sha still be 1BTC until you touch am come sell am na him the figure go change.

As a newbie to crypto currency, there are many few important things a crypto newbie need to know before he or she starts to invest in Bitcoin.
A steady source of income is the most important thing before investing on Bitcoin. Having a steady source of income gives you more and more money to always buy the dip, there was a trend I see some days back and it about a guy who was saying he is buying the dip and it keeps dipping. This is also an example that will help us to know that source of income is the most important thing in investment, when you have the money you also gets more opportunities to buy the dip, when you don't have money you can't buy the dip.
Yeah it's good to have patience when we are investing in Bitcoin, one other reason why some people are into trading is because they don't have a lot of patience to invest in Bitcoin. You know that feelings when you see your capital reducing without making even a little profit, so they choosed to trade than to invest because as they are trading why monitor the market price so that they can know the perfect time to cashout by selling their Bitcoin.
Without a good source of income one can not DCA on Bitcoin because DCA method is a method that gives us the privilege to buy Bitcoin daily weekly or monthly basis. And when one doesn't have a source of income he or she can not invest in Bitcoin because he doesn't have what it takes to buy Bitcoin. However, no matter the kind of strategy an investor is using to invest on Bitcoin, if he doesn't have a source of incomes his investment plans won't last long.

Na two ways wey u mention above me awi agree with. The one wey u talk say if person get money for account, make him use am buy bitcoin, and make you rank up account join signature wey Dey pay bitcoin, and I will also add, if you get any other online work, you fit request for payment in bitcoin  and if they pay, you fit commot d one wey you need make you leave the remaining money for bitcoin.

But hope say no be because you wan grow your account to full member so that you can participate in signature campaign na y you create this thread be that, because me I no see anything wey we never hear before for this thread, hope say no be because of merit you create am, because maybe anything no go commot, but if you put more efforts in your post, dem merit go commot.

Make I talk about the last part of your post, I no go recommend make anybody make him sell him property invest in bitcoin ooo, either your house, land or Tv, na wrong idea, just invest money wey you Dey save, and you know say you no go use for now, no suffer yourself and your family members just because you wan invest in bitcoin, if you die, bitcoin go still Dey ooo.

It is one thing to invest in Bitcoin and another to hold it because not everyone that buy Bitcoin that are able to hold it for a long time because there is a whole different requirements to holding Bitcoin. If you use all your savings in the bank to buy Bitcoin without making provisions for your needs, you will be forced to sell your Bitcoin just in a matter of time. From what I have learnt in this forum, to hold Bitcoin, the following must be in place:

• A source of income that will cover basic needs
• An emergency fund to cover any emergencies that was not envisaged when planning the investment

The above two conditions must be in place to protect the investment from unplanned liquidation. Earning Bitcoin from the forum through signature campaign is a good way to save provided you have other means of meeting your basic needs because many people rarely hold because of  no other means of surviving, so they spend the Bitcoin they earn from the forum on basic needs and other things.

The last known person that sold his house to buy Bitcoin was CZ, the former boss of Binance exchange and he will never advice anyone to do what he did. So I will not advice anyone to sell his house to put the money in Bitcoin because that will be like mortgaging ones peace of mind especially now that Bitcoin has refused to pump after halving, anyone tried it this period would have sacrificed sleep. The way to go about investing in Bitcoin have been outline and part of the requirements is to invest amount that will not make us to panic.

Op all the ways or method wey you don talk for people to hodle bitcoin e dey correct and among all na di Signature Campaign nai good pass because if you dey work which means you go dey save small every week but if you no dey work and you sell your land or properties to buy bitcoin and if you are not persevere, endure and patient, you will still use them again so it is not advisable to sell properties to buy bitcoin but if you're a civil servant or working in private company then it is even the best to invest in bitcoin because you won't touch the invested bitcoins since you get back funds to sustain yourself.