Topic: No Invest in Bitcoin When U No Dey Do Anything. (Read 389 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.

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.

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.

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.

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.

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.

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 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.

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

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 no even need to read everything you post but the topic don already explain em self. normally Bitcoin no be wetting person go invest why person no dey do anything. Emagine say you work somewhere them come pay you and you no get another job to do you come use am go buy bitcoin you go definitely sell am. So this matter wey you bring here na legit make wey no take for say dem dey preach obou DCA come wan practice am for your feeding money or house rent. Your landlord go pursue you comot for house o. Try get better work way you fit they eat dey get the one wey you fit use buy Bitcoin wey no go affect you, in other not to go sell your Bitcoin.

Bitcoin, just like every other investment requires time, and as such, it's not an asset you just jump into it after hearing other people's success story how Bitcoin works. Hence,  for me, I think eh for really make sense if the title of this thread was "No invest all your capital in Bitcoin when u no dey do anything", instead of "No Invest in Bitcoin When U No Dey  Do Anything", because truly if a person no dey do anything, how did he/she get money wey they want invest in Bitcoin in the first place.

And this will be the worst mistake anybody will make, that is, to invest in Bitcoin, while doing nothing, and putting all hope in Bitcoin to skyrocketed in price, so as to take profit at due time, which is not always as thought. Because the same way a landed property takes before it could appreciate in value, so is Bitcoin likely to take longer period of time, in other to reap a good profit.

Yeah you are right because every investment is all about planning but it just depends on the individual mindset and his ways of handling things especially management of funds, so however there is also a strategy most people who doesn't have much money are using which is DCA , so however this strategy work closely or similar to what you said because even if we are earning $100 on a monthly basis and after doing all evaluation and expenses and we are left with just $10 perhaps we could utilize it by using $4 to accumulate on weekly basis and within some years we have gotten a good Bitcoin portfolio.

This kind talk wey you talk like this no too make sense at all. I no see anything bad for the advice wey @Mate2237 give for the end of the thread wey him create. If the thing no dey helpful for your eyes e get people wey the thing dey helpful to. Shey you no dey see the way newbies them dey create threads anyhow for this local board, even things wey them no supposed dey post here them dey post am simply say them wan create thread @Mate2237 Make important post wey him talk say make people wey no dey work no invest in bitcoin. You no read that one abi? I just see am say na for the sake of the love him get for this local board na him decide to add the advice so that people go stop to dey create threads anyhow make the thing no come affect this local board. Him just share him success story for this palace and how him take start. Bros I no come understand watin you mean say the post no dey helpful. 

I have been thinking say na only me see that content mixing from the ops ooo,  but since the first member that comment didn't point that out and also a few other comments also looked away from that aspect,  so been no wan comment on that,  but now that you get better eye take point that out e come boost my moral to comment.

The thread in its entirety is somehow since I was looking out to see some statistical analysis of what the one means in the thread title,  but then all that is mentioned was just a story of a family member trying to get into Bitcoin.

My advice to the ops based on his second paragraph and on the condition of the family member as mentioned in the ops,  I will advise ops to advise her against investing in Bitcoin and she should use the 100k to advance her current business,  because is not as if bitcoin is a straightforward profit making scheme since anything can happen and we have a waiting period as always in bitcoin investment.

Considering that a 100k Bitcoin investment may really have a long time of waiting to make something good in profits.

Very much can relate to all that op have said, have a good source of income outside cryptocurrency is an important factor when it comes to becoming really successful in bitcoin and crypto currency investment, but this is an exception to those who are well skilled at Forex trading, as well as cryptocurrency trading as well, for as long as the party is trading and making profit every day, and the profit they are making can sustain them well enough to not touch that which they have invested in bitcoin, and possibly other crypto currencies as well, then it's completely OK.

What is most important, is to not be idle, if you are idle and buying bitcoin with the little money you should and used for feeding and other basic needs, you may end up selling that bitcoin at a loss in a very short period in time, for bitcoin investment is most profitable in if done with a long term goal or perspective.

Investment planing is actually not that difficult, it's all about planning with your current financial status, if you earn $5 a month and you plan to Invest monthly it would be wise to go for $1 or $2 a month depending on how much you do your spending monthly.
Why many find it difficult is because they don't go into investing according to their pocket, they can even go as far as selling off their properties and making their life hard just to squeeze out something to invest in Bitcoin.

Na true talk be dis oo, because na who de alive de invest in bitcoin, you cannot be starving and have bitcoin in your wallet, the best option for you will to sell the coin and take care of yourself and your health.
Having something doing that earn you money is good before kickstarting your bitcoin investment journey so that you can hold your bitcoin for long and gain more profit from the investment.


That is a good move for the lady, make sure you coach her how to keep her private keys safe and do not leave her bitcoin in an exchange for her, teach her all the basic things she need to know about bitcoin and wallets, and also let her know that bitcoin investment is risky, if she is willing to take the risk. Also let her know that it is not a get rich quick program or investment.

This person wey you dey talk na really determine person, I go give am that, because my brother e no dey easy to actually save money from that kind business and no temper with am base on the business you stated and na this kind person go fit actually hold Bitcoin for long because patience and perseverance na watin all Bitcoin investor need and although the business isn't an ideal business but as far as the person involved won't be affected in anyway when saving in Bitcoin then it's all good.
Thank you for the advice and I believe we the newbie don take to correction but some of no really understand say no be about creating of thread nai go give you merit because of the thread na just to acquire one or two merit and you no go blame us sha but everything get time and season and I believe with time, we go get to understand this too.

I don follow for plenty discussion wey resemble this kind matter for the general board and true true, e no dey easy to dey reason investment when nothing gum you, abi na your spirit you wan invest? But the matter be say, e no get how person go dey from year to year wey something no for dey enter him hands once once. Maybe people go dey reason stable income. 

From wetin experienced guys them talk especially some oyibo them wey get eye of investment, you fit still invest in Bitcoin even if money dey enter your hand once in three months. Them suggest say na DCA method be the koko, where you fit dey plan yourself base on say na in three months money go enter your hands. Them put am say you fit dey put even if na just 10% of that money untop investment because if 90% no do you, 100% no go do you. So the best thing na to set aside 10% of every money wey enter your hand, then use am dey invest in Bitcoin.

I see sense for this thing because I notice say some of us wan hammer first before we talk about investing, we dey neglect the power of little beginning and that one no make sense at all. If person decide today say for every money we enter hand, 10% go enter for Bitcoin, before one year, that money go don big wella. Make we try reason this idea sha

This doesn't only apply to anyone that wants to invest on bitcoin but rather anyone that wants to invest their money on anything at all. The mentality that most of us normally have when we are investing on any project is that we are going to make profits. Inasmuch as investment is concerned, our motives before investing our money is with the fact that we are going gain and not lose which is a very bad mentality. When investing on a project or a business we need to think about unforseen circumstances, like the obstacles that we may encounter in the course of making investments as these will make us have a frame of what to do when such circumstance arises and to make provision for alternative incase of such nature.

We all should know that in life, investment is very important as through this investments that we can possibly secure our future because the reason why we make investments is for it to stand as an aid for us in the future or to stand as a way of relief at old age when we will no longer have the zeal and strength to work.

Investing your money on bitcoin while you ain't doing anything is just like keeping your live at risk because all your attention and concerns will be geared towards the money you have invested and bitcoin though has started gaining popularity but no one can predict it's future as anything can happen though we ain't praying for bitcoin to crash but in anything we are doing in life we ought to think both the positive and the negative as it will stand as a guide when we don't get what we want or when things doesn't go the way we expected.

Okay let's take a look at the Mavrodi Mondia Moneybox ( MMM ), when MMM came and people began to see the success others were making from it and they developed interest and started making investments and everything was going well, what most people did was to borrow money, some sold their lands and houses even people that first benefited from MMM even took the money they got from the Ponzi Scheme and their personal savings and fired it to MMM. Now when the Ponzi Scheme crashed, a lot of people were in tears, some people haven't even recovered from the shock till now so no matter how promising any investment might seem to be, never channel all you energy to it as uncertain things are meant to happen in the future so we should invest with caution.

Na real matters you just yarn so and I want also add say the matter no be only for people when no de do anything but e also concern people when never de financially stable and almost all there money de finish at the end of every month.  before you go fit make better investment for Bitcoin when be say no matter the fluctuation you de see for the price like wetin just de happen now, you go fit hold yourself, e go be say you no de look for quick money and that one go only happen when you de financially stable.

I know say we fit buy bitcoin with as low as $5 but if you want take the accumulation of bitcoin serious you go need hold small money. Na why we de get plenty thread when de advice say make we no take this forum as our office as we go still need to get other things when we go de do when go de fetch us passive income so our knowledge on Bitcoin no go just end here but we too go for follow invest in bitcoin.

Na waiting person suppose think before carry yourself go do any kind of investment be this, some people no dey think about how the bitcoin matter be, immediately after them hear say bitcoin get money and E dey get profit na so them go carry mouth come talk say them wan invest too, this your story remember me of one of my guy wey no get work wey him wan invest him inheritance for bitcoin, although he no bad say him wan use the share wey him get as him inheritance from his father invest but my guy no get work, my guy no get work wey be say him fit feed himself after him put all the money for bitcoin investment, I advise am say make him never invest the money, make him use am start up business first and after him be dey get some profit from that him business him fit use am invest so that him go dey do him business and also Invest in bitcoin.

I don't know maybe my advice good for am but as a friend na waiting come my mind wey I think say if him do and if he become successful him go remember say na good advice I give am, also from your story about that madam wey dey sell akara, as she dey interested and also she get mind wey be say she wan invest, I believe she will not suffer of feeding herself because she have a daily work that even bring her money to save, as far say person get money to feed he or herself after investing my brother nothing remain.

Op, this matter wey you talk like this is a real matter, now way be say Bitcoin dey grow and e dey stable too, some people wey no dey do anything go want to invest in Bitcoin make them fit see way thing to sell when bull market go start proper next year. But they no know Bitcoin no be get-rich quickle scheme, Bitcoin now wey thing person go hodl for like 3-4 years before the main profit go comes out. And if they invest in Bitcoin without any means of income hoping say their Bitcoin investment will give them big money in the short run wey they go use it dey alright, without knowing saying Bitcoin no dey work like that. When hunger go holds them and no money for their again to use chop, the first thing wey go comes to their mind now that Bitcoin investment, and the funny part be say they go say to themselves say now person who dey alive fit wait to see money from investment o, they go just sell their Bitcoin investment even when the Bitcoin done drops in price them go just sell am to see money to use chop food.

Op, if that woman comes back for the Bitcoin investment ask her some questions like wey tin she dey expects from the investment and how long wey she thinks the profit wey she wants go fit come out. If she tells you say now 4-5 months she dey expect to see profit from her Bitcoin investment because people wey she know wey dey into Bitcoin dey do well. Then, you fit explain for her say this Bitcoin no dey like that o, now wey thing person go hodl for a long term(4 years) so that she go dey ready for Bicojn investment wey she want to enter into. Just use the safety procedures on how to protect your Bitcoin wallet wey boss Charles-Tim provided for you to guide her.

Op na true wey you talk oo, person wey no get anything doing nor suppose put body first for Bitcoin investment, me I go advise make em use the that time take do enough study and research while em still dey find confirm source wey go dey give am steady money so e nor go slack for em accumulation. Person wey just dey dey rush go buy bitcoin wey no get anything doing wey dey provide money, to me that person na just another trader wey see Bitcoin as rich quick scheme,forgetting na with time Bitcoin take dey bless em holders them.

That your family get mind and I like the fact say she beta thing and she dey try put body with the right approach, at least wen she start her accumulation journey e no go hard her to dey practice DCA for a week, she fit dey put N2500 every weekend for her level first until God open doors for her. Already baba Charles don give advise on wallet the only thing I wan talk na be say make she no go keep her backup for where e go loss oo.

Oga Charles-Tim has in several notes pointed at some helpful possible alternative solutions to bridge the bridge the waste of time and also insighted on educating her on her private keys security measures also considering her yet to get a smart phone.she hasn't got a Smart phone.
So I would be in addy opinion if she would trust, begin the trades for her just as Oga Charles-Tim has suggested.

if there would be a popular saying that the current market value of Bitcoin is low, I would singularly say it is currently on a significant range that has it hovering around a bull-run so I would suggest you key in now and Invest as an advantageous opportunity before a high range of bull run or skyrocket is activated in no time because waiting on her to get the phone may take her some times considering her petty business.

But at it all, don't fail to also talk to her about the volatility of the Bitcoin and the patient demanded if one must achieve its goal of profitablity in the Bitcoin investment.

Sorry oh if I offended you from the thread but I don't think say there is any off content in the thread. The last part of the thread na just addition wey I decided to add to tell people say let dem no create thread because they want to. Oga me if dem don create this thread just tell me I go lock this one in sharp. Please drop the link of the first thread wey you see say I imitate.

If you feel say wey I tok e no go help you den u no need to tok am because me I know say na better too be dat. If you dey invest in bitcoin and you no dey do anything and only di invest, Oga me e no go work out o. Finally u go chop di money finish. Nai make I say make before you invest in bitcoin you need to do something so that the investment money go save.

Na true you talk so but na why dem dey always advise say make you put money wey you no go use now for bitcoin investment. As you don invest in bitcoin with dat money, make you still get spare one for emergency problem so far you no go touch dis one wey you don put inside the investment. E no easy but make sure say your 1BTC still remain your 1BTC, whether price rise or fall because na dat one go determine how much you fit get when bull run time come.


Good advise for every newbie to know and the OP don give better advise to the newbie wey wan join for the bitcoin community. Na for her to take her security and privacy serious becos if she no do so, dem fit steal fraud her again. Na time for her to go learn more and know basic wallet security as dey don suggest better wallet for her to take save money inside.

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.

This one wey be say you move from the topic wey you create enter another topic to they advise newbie to create better thread why you come create thread wey be say thread wey they like am already exist. If you want they advise people do something, make you try they lead by example. Apart from that thread other thread wey they related they for the local board, most of them full for other board.

I bin dey expect say di thing way you share go fit relate with something way we fit learn from, or something way go fit change how dem dey tink about Bitcoin investment. I no dey yan say wetin you share no good or e no get sense, but if you fit share new example based on your experience, e go helep the newbies and oda people wey dey dis forum.

Actually it's not only with bitcoin but generally in other areas of investments it's not wise to invest the only money you have into something that has to stay for a year or more before you start making profits. The question is how do you intend to survive within the times, you can't starve while you have money somewhere that's why if you have to invest in bitcoin without you having a sustainability source of income or a skill to make money for your sustainability while your investment grow you would be forced by hunger to sell your coins in a short time even at a loss to feed.  Bitcoin Investment is suitable for people with a source of income that's reliable as they can wait even when the bear market lingers

Wetin you talk na true, e good make person get another source of income so that him Bitcoin investment go just dey one side dey add weight until the time done ripe make person cash on him investment. But sometimes shit happens, and you no go get any other choice than to sell your bitcoin and solve life problems.

Concerning the person wey want invest in Bitcoin, do well to educate her about wallet security. Even when you recommend better mobile wallet like electrum and bluewallet, she still get role to play to safeguard her investment. Na newbie wey she be, make she no use the same phone dey browse upandan go click phishing link, when dem drain her wallet, she no come dey reason say you play her wayo, so do a good job.

Make her a paper wallet.

If you have a airgapped laptop device,  you can help her to create a new wallet. Give her the seed phrase and tell her to backup the seed phrase in three locations that are safe.

If you do not have an airgapped device, you can still help her if she trust you and if you can format your phone for her. Format your phone, install Electrum on it from https://electrum.org and verify its PGP signature, copy it on a formated flashdrive that the phone support. Format the phone again, install the Electrum from the flash. Generate the seed phrase, keys and addresses. Tell her to backup the seed phrase and help her to fund the address with the amount that she wants.

If I am the one helping her, I will advise her to use passphrase and I will tell her how she can lose her coins if she lose either the seed phrase or the passphrase and that she should backup both differently in different locations. Having passphrase can be very helpful for her against offline attackers.

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.

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.