Topic: No Invest in Bitcoin When U No Dey Do Anything. (Read 476 times)
People don't really take this advice because they feel say Bitcoin na something you can go into and make money. People only learn to correct themselves and have good understanding when they force themselves to invest they see that bitcoin is something that requires steady flow of money. Profit in bitcoin can never be predicted and bitcoin is not a thing one can depend on it to make profit.
Finally finally e no dey advisable to invest for Bitcoin when you know say you never full dey prepared for Bitcoin long run. Bitcoin investment na for those when really dey do other things like business or side hustle way dey pay at good rate. If you dey work also work for place when your pays sef go fit afford your monthly bills and some kind unnecessary spendings. When you no dey do any job to earn a living you no go fit afford bills and you no go also fit invest for Bitcoin.
Bitcoin is not that kind of investment you do today and withdraws tomorrow, you have to wait for a while, so that when it appreciates in price, you will benefit, the people that needs to be encouraged in thus investment is people that have something doing, because this investment is all about hodling and forgetting, no doubt bitcoin value is high, the question is, how much will an ordinary man invest, the amount will definitely be small, once you have this investment you will feel that you gave arrived, don't think so because anything is possible, my advice is you know that it will tempt you to withdraw your investment get yourself something doing before investing.
Yeah, and that is what most people don't understand they take Bitcoin for granted, some even see it as an investment, similar to how you can invest all of your money and start collecting rewards the same day.. Investing in Bitcoin requires a significant amount of patience. Those who lack patience can purchase Bitcoin because not everyone has the patience to hold it for an extended period of time. Those that made their investments in Bitcoin early stand to gain greatly from the impending bull run, as the cryptocurrency is poised to reach its all-time high.Furthermore, some Bitcoin investors who take their money out the next day are the kind of people who don't invest with as much money as they can afford to lose. As a result, they don't generate another source of income, whereas those who genuinely want to succeed in investing.
This your advice enter well, e de good say make person prepare well before dem go decide to start Bitcoin investment journey, because na for long term na im e de benefit di investors. So who no get stable source of income wey de give am daily bread, no de eligible for Bitcoin investment, because no be something wey you suppose put money today and tomorrow you go comot am to take solve one pressing problem.
Dat na why we suppose inform anybody well, wey we de introduce to Bitcoin investment, so dem no go think say na Ponzi wey dem go invest money and within a short time dem don begin collect returns on investment. Bitcoin no be scam project or get rich quick scheme, na wetin di investors need to de accumulate and hodle till e go mature reach di level wey dem go like to sale.
Dat na why we suppose inform anybody well, wey we de introduce to Bitcoin investment, so dem no go think say na Ponzi wey dem go invest money and within a short time dem don begin collect returns on investment. Bitcoin no be scam project or get rich quick scheme, na wetin di investors need to de accumulate and hodle till e go mature reach di level wey dem go like to sale.
True talk Op, Investment into Bitcoin is not something we should invest with the money we expect to use or need tomorrow because when you don't have a source of income your expectations can go south, And that reminds me a friend of mine that recently saw me cash out some profits I made while BTC claimed its previous ATH of $69k, and told me he wants to invest to be making such an amount of money in daily or weekly basis because he has no job, I didn't hesitate to tell him that it a wrong way to go about investing in Bitcoin because of its volatility, that he might buy BTC today and the price dips down tomorrow, and guess what, exactly that same day we saw Bitcoin dipped down to $59k.....imagine such situation what he will do when he's hoping to cash out the next day.
Many people did this mistake of investing in it without knowing the implications in it. And I also advise that if you no dey do anything to support yourself and you interested to invest then don't use all the money nyounto invest and you come dey starve yourself when you have mine.i no dey like that kind of thing. But many no know this logics so them dey invest with all their money and when there nothing in hand to survive again thru would visit their investment and take it from there and survive but if dem dey do another tin den the capital investment go save. Me I don talk my own make those wey heard and do the way I told them to do then him go be great investors but anyone who fail to do nai know di world na free World.
True talk Op, Investment into Bitcoin is not something we should invest with the money we expect to use or need tomorrow because when you don't have a source of income your expectations can go south, And that reminds me a friend of mine that recently saw me cash out some profits I made while BTC claimed its previous ATH of $69k, and told me he wants to invest to be making such an amount of money in daily or weekly basis because he has no job, I didn't hesitate to tell him that it a wrong way to go about investing in Bitcoin because of its volatility, that he might buy BTC today and the price dips down tomorrow, and guess what, exactly that same day we saw Bitcoin dipped down to $59k.....imagine such situation what he will do when he's hoping to cash out the next day.
Even if na pocket money Dem dey give you, or na menial jobs you dey do, 10% of all the earnings is for keeps.
I would disagree with you on this. If your income is not enough to take good care of your daily expenses and you leave some money for emergencies, you are not allowed to invest. It seems you do not know what investment is. If you go and read books about investment from philosophers, you will understand that investing is not something you just jump into with a very strong foundation. Investments have risks, and it is not wise to risk the little money you have to keep yourself safe. You don't have money to eat, take care of your health, or maybe you have a family and are not looking out for them comfortably. Instead, save a little to start another business or something that will start bringing another income stream to reduce the burden of financial stress.
E be like say una dey forget say, na only person wey get money or dey earn money or person wey get good idea wey fit bring money, get the right to talk or even think of investment. Watin concern poverty with investment?
Even if na pocket money Dem dey give you, or na menial jobs you dey do, 10% of all the earnings is for keeps.
Na so e be for many books wey big men write and if same principle dey applied for Bitcoin, supposing say person don get the knowledge and don dey reason how to take advantage collect em share, e fit use the small 10% wey em don add up for one side, buy the affordable BTC or Sats and HoDL, that is save am for a crypto wallet wey dey safe from hackers and scammers.
E good to keep revisiting the thought of doing something in mind, mostly when it concerns ones future financially. Even with no much funds ,determination will always pave a way for anyone who is zealous enough in taking the little steps to greatness.
Even if na pocket money Dem dey give you, or na menial jobs you dey do, 10% of all the earnings is for keeps.
Na so e be for many books wey big men write and if same principle dey applied for Bitcoin, supposing say person don get the knowledge and don dey reason how to take advantage collect em share, e fit use the small 10% wey em don add up for one side, buy the affordable BTC or Sats and HoDL, that is save am for a crypto wallet wey dey safe from hackers and scammers.
E good to keep revisiting the thought of doing something in mind, mostly when it concerns ones future financially. Even with no much funds ,determination will always pave a way for anyone who is zealous enough in taking the little steps to greatness.
E get some business wey you go fit even borrow money to start but bitcoin is different. Bitcoin is not an investment with people with no source of income and those wey think say dem fit use borrow money take invest in bitcoin. One must get a steady source of income before thinking of investing bitcoin, na ignorance na they make people to think say if them invest bitcoin with everything dem get in return dem go get good profit .
How about someone who's a dependant but has a stable financial flow into his bank account? I mean in some cases, some persons might not had been so opportuned or lucky to get a job or establish on a self employed businesses but are surrounded with minimum of persons who gives them cash at any given time they're in need without questioning them, hence they could have lot of funds saved in their Bank account without the consent of those who are responsible of funding them at their needs, I think they are good to invest. Because literally, some persons who tends to feed you might not want to see you grow or being established in life maybe they're Concious of your potentials so that you don't either outshine them or you don't grow more than they do. Let's not pretend about this because we're Nigerians and this is possible happening. So this said dependant can secretly invest in the bitcoin while he doesn't work nor a source of income to be boast about until he's fit to stand on his ground and become a man of his own. He can as well establish alternating his source of income probably from the income he must have made while invested in the bitcoin.
Sometimes some persons can hold on and be disciplined to an extend while invested in the bitcoin without a stable source of income.
We can call that to say "be patient and manage yourself in the main time" while your asset grows.
Sometimes some persons can hold on and be disciplined to an extend while invested in the bitcoin without a stable source of income.
We can call that to say "be patient and manage yourself in the main time" while your asset grows.
Normally before anybody invest e dey necessary make that person get something wey e dey do wey go fit provide money for am, to take feed and spare change to take invest for crypto. Bitcoin investment no be fo or die, if you no get source of income, no border to stress yourself because one day hunga go make you go withdraw that your investment wey e never reach time to withdraw. And one other thing na be say, make people no because of the current increase in the price of Bitcoin go tell person say na so e go be oo, because this same issues na wattin don misunderstanding for we country wey make some person wey enter for bearish movement conclude say Bitcoin na scam. Abeg no use sweet mouth ginger person to invest without enlightening the person about the risk associated.
My brother, no be lie you dy talk, this one no be for only Bitcoin investment, for all investment generally, e dy very important say you get a source of income and an emergency fund wey go dy keep you on bar till your investment start to reap dividend, because if you no do so, before you know, for your own eyes, you go dy chop ur investment small small till the business collapse or you go have to fall back to your investment when faced with financial troubles, so e dy very important say you get source of income and emergency fund before you invest in Bitcoin or any other investment.
This is a very good advice but some person will take it for granted, you can't not invest in a profitable stuff when you don't have another means of survival that isn't ideal, as an invest that want to go for a long term you should put many things into consideration to enable you hold before thinking about withdrawing your profit, bitcoin is one of those investment that sometimes tempts your patience, so if you don't have any other income earning stuff that you do it will be very difficult for you to endure to the point of bountiful returns.
For me I will always advocate that every bitcoiner should be a worker or a business person who earns either daily, weekly or monthly so that when emergency arises which is inevitable the funds available can solve the immediate needs, bitcoin is not not an employment but people can be paid with bitcoin, it serves as a means of payment and investment, nothing less or more than that.
For me I will always advocate that every bitcoiner should be a worker or a business person who earns either daily, weekly or monthly so that when emergency arises which is inevitable the funds available can solve the immediate needs, bitcoin is not not an employment but people can be paid with bitcoin, it serves as a means of payment and investment, nothing less or more than that.
Decision is taking be personal ambition and from dem say. If you want to become someone you to to take a decision that can be a good profit in your future and not the one you take and regret later. Many people have seen the benefits of investing in bitcoin recently because of the upward movement of bitcoin. Assuming you invest in the time when bitcoin was $16,000 and now that bitcoin is $67k, how much do you think the person he would have made? And because of this that many people have seen the benefits, next year many people will invest in bitcoin. But my cordiality advice is that they should invest when there is money to support yourself to pay bills and others so that your investment will last.
This one just like na warning sef, no invest in bitcoin when you no dey do anything to support am because e go affect your investment. If you want to invest in bitcoin at least make you dey do small thing dey get money so that you will not touch the bitcoin wey you don invest. Na this topic dey make me dey create this thread Economy affects Bitcoin investors.. Because of the way bitcoin dey appreciate, everybodi want to invest and thinking that bitcoin go give them big profit for within few months of 3-5 months and dis people e no do anything and just want to depends on the bitcoin investment and thinking to have great harvest in this few months, and within this period, when thing are not going well with them in the side hustle then dem go remember say dey drop money for one wallet and dem no go kill or starve demselves when dey have money somewhere. And when you look at it na true, dem no go starve when there have money in the wallet. So dey will visit their wallets and sell dem to feed themselves. But to say dem dey do something outside di bitcoin investment then im or her go dey buy bitcoin small small every week or month with di money wey im or she dey get from side hustle.
A relative met me today and told me dat she want to invest in bitcoin and I asked her weti she dey do, so that when she starts di investment she no go touch di investment money until years to come and she told.me that na akara nai she dey fry. And she dey save #500 every day and she don save 100k from di capital and she want to invest in bitcoin with di profit and I was impressed. And I asked her how did she know about bitcoin and she said, she saw it in one my comment in a family WhatsApp group and she make enquiry and dem told her dat bitcoin na correct investment so she want me to teach her so she can invest. And I told her that all she needs na Android phone since we no get hardware wallet in di locality. And she told me dat when she buy di phone she go come back to me she she can invest and I told her dat dis is the best time to invest as bitcoin e still dey low.
A relative met me today and told me dat she want to invest in bitcoin and I asked her weti she dey do, so that when she starts di investment she no go touch di investment money until years to come and she told.me that na akara nai she dey fry. And she dey save #500 every day and she don save 100k from di capital and she want to invest in bitcoin with di profit and I was impressed. And I asked her how did she know about bitcoin and she said, she saw it in one my comment in a family WhatsApp group and she make enquiry and dem told her dat bitcoin na correct investment so she want me to teach her so she can invest. And I told her that all she needs na Android phone since we no get hardware wallet in di locality. And she told me dat when she buy di phone she go come back to me she she can invest and I told her dat dis is the best time to invest as bitcoin e still dey low.
To Newbies Dat want to Create Threads Always
It has been long I create thread in the local board but I dey make comments steady and this thread was created through the reading and making comments basically from dis thread https://bitcointalk.org/index.php?topic=5472766.new#new so weti I dey tok be say make you no dey in hurry to create threads, read more and in the process you go produce better thread. Good luck to all newbies.This is a very good advice but some person will take it for granted, you can't not invest in a profitable stuff when you don't have another means of survival that isn't ideal, as an invest that want to go for a long term you should put many things into consideration to enable you hold before thinking about withdrawing your profit, bitcoin is one of those investment that sometimes tempts your patience, so if you don't have any other income earning stuff that you do it will be very difficult for you to endure to the point of bountiful returns.
For me I will always advocate that every bitcoiner should be a worker or a business person who earns either daily, weekly or monthly so that when emergency arises which is inevitable the funds available can solve the immediate needs, bitcoin is not not an employment but people can be paid with bitcoin, it serves as a means of payment and investment, nothing less or more than that.
I think this one na one of the best advice so far. Because many people were just interested to invest without knowing the implications of bitcoin investment. It was good if you invested in bitcoin when di price been dey $16+k and by now you don turn to millionaire though all depends on the amount you for use to invest. If you use small money invest, nothing for still come and if you invest with big amount then you go make for life. But don't forget weti the op talk. Most di topic of this thread is very important one.
People do not think weti go happen for di future and all their interest na to invest but when you feeding money finished nai you know say say money e dey somewhere make I go collect am. So to avoid dat, always invest when they is another source of income.
People do not think weti go happen for di future and all their interest na to invest but when you feeding money finished nai you know say say money e dey somewhere make I go collect am. So to avoid dat, always invest when they is another source of income.
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It's not a rumor that not everyone is economically wise in making investments and managing their savings, but if they ever invest in Bitcoin when it's only the last money they invested, they will definitely sell it off and use the money for their needs. By the time they buy high and sell low, they will realize that they have a loss on the investment, and they will get motivated to do something that will allow them to earn money while they allow their investment in Bitcoin to stay for a long time until the bull market. Although some people don't bother if they lose or not because they don't put their money into Bitcoin for investment, they just buy it because they believe it will enable them to hold it for a long time, at least until they are ready to use it, but if the money is in fiat, they will easily spend it.
This thing na wetin people needs to understand honestly, some people believe say investing in Bitcoin will make them to have money without having any source of income. Investing in Bitcoin with no source of income can be very tempting because it is impossible to have needs to solve with money and still keep Bitcoin as investment because you will be tempted of selling it and the mind will be on the investment because it is the available money at that point. It is always advisable to get a good source of income to invest in bitcoin not to have more attention on investment .
This one wey you talk about bitcoin investment na true, no be only bitcoin investment things like this dey happen for business wella, most people when them try open small business na them go still use their hand milk the business dry, wetin I don observe for this bitcoin investment make person no borrow money invest or make person no put huge hope for bitcoin and for this kind matter wey person no get work or business wey dey give am money and the person con decide to invest except the person wan use bitcoin gamble cause the thing dey abnormal na, the matter just dey like pikin wey never learn how to sit down well the pikin wan rush creep . op I understand your point make person no invest for bitcoin without a job all in the name say him dey find fast money
And I told her that all she needs na Android phone since we no get hardware wallet in di locality. And she told me dat when she buy di phone she go come back to me she she can invest and I told her dat dis is the best time to invest as bitcoin e still dey low.
Make her a paper wallet.Paper wallet for a newbie? I would suggest a software wallet for convenient and if he wants to store for a long time then a $100 hardware wallet will just be fine.
Paper wallets are generated for one-time use only, you need to regenerate a new a new paper everytime you want trade. A newbie can't do this
I am really enjoying this thread comments. Dem dey give joy, and making me laugh at times but na di truth everybody dey tok except one user wey misunderstand di Op though im sef na di way im take understand di thread nai tok. Samlucky O yes the topic don already explain itself so when discussing there is no need to beat around di busy just straight to the main point.
I have seen and heard many people wey invested in bitcoin but could not complete the journey because dem used di investment money since dem no get another to support demselves.
I have seen and heard many people wey invested in bitcoin but could not complete the journey because dem used di investment money since dem no get another to support demselves.
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