Topic: What to do with 1 BTC as a Nigerian (Read 1211 times)
1 BTC in Nigerian naira is currently 147 million, as Nigerians we know the value of such an amount of money... people that have an investive and industrious mind can never go back to being broke after getting this...my best advice to use this amount of money is to focus on stocks, landed properties, importation of goods and starting a large scale farming.. although it's easier said than done when you don't have the money in your possession, some people that money has a way of changing your plans and ideas when it finally comes but in my opinion that's just a lack of discipline.
We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
Although this is an old topic when 1 btc was precisely $27k but now 1 btc is x3 which is $81k maybe plan may have changed by now if many people where to explain what to do with $81k. For me I will not use all, I will set aside $21k into a non custodial wallet as a form of lump sum, split the remaining $60k in to three equal parts of $20k each, keep $20k as discretion and invest $40k into different business, watching it to grow while I use the $20k discretion to invest on regular DCA including buying dip while waiting for the business to start yeilding profit.The type of business that may likely yeild profit as I thought of is livestock farming/ production. Another one buying shears from company, rendering services like starting up a mini transport company. Buying equipment for rentals etc. there are many businesses to do.
What I know for sure is that I'll definitely not withdraw everything to spend and lavish on an expensive lifestyle. I'll take part of it to cover my needs and my family needs then invest part in a business with profitable returns in order to have more than one stream of income. Then I'll hodl the rest. Therefore having more than one investments and still being able to cover my immediate needs.
It's no news that the economy of our country is draining day by day, leading to more Bitcoin advocates in the country. With the continuous hardship in the country, I bring to y'all this topic " what to do with 1 BTC as a Nigerian".
So, I once saw on a thread somewhere in the forum where these white people posted houses and cars they'd get if they had a Bitcoin and it varied from country to country. Decided to bring it to our board since we can all relate to the current price of 1 BTC which was recently over $34,000 and in our Naira currency is #27,110,056.50.
We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
I have read people’s posts and opinions about what they intend to do with 1BTC which is not a bad idea, some wants to hodl, some wants to investing in many other things like businesses and housing but the reality is with such amount it will be difficult for a person to have a huge amount like that and not spend a penny out of it when there are lots of problems to solve but no matter what we do we just have to make sure that we invest some amount to bring us money regularly because it is a life changing opportunity. So, I once saw on a thread somewhere in the forum where these white people posted houses and cars they'd get if they had a Bitcoin and it varied from country to country. Decided to bring it to our board since we can all relate to the current price of 1 BTC which was recently over $34,000 and in our Naira currency is #27,110,056.50.
We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
I have always wanted to be a professional footballer and with that amount it is an opportunity for me to make my dream come true. I will work towards that to secure a team abroad then hodl the remaining BTC. With my little salary as a footballer i will be able to invest properly into bitcoin and also help my family out.
The truth is that at first nah to find way to start business wey go help me grow financially and also financially stable, and also take care with some expenses but the thing is that I will hold a larger percentage for long-term profits. Then I will continue to boost or build my Stashes with some percentage from the money I will be getting from business.
The funny thing is that there are some people that's still going to spend the money anyhow and surfer later . Hoping that another opportunity will come , the thing is that the best way to make good use of opportunity is to think that there's no other one coming apart from this one so instead use the opportunity you have now to open even more opportunities.
That's if the person is poor and doesn't have any tangible means of getting income before he/she was gifted the 1 BTC but if it's the other way round the best thing to do is continue hodling instead of diversifying to another investment imagine how much would've added to the persons portfolio if they continue holding when the price of 1 Bitcoin was about 34k then, that's so say it would've double the price currently and if the person continues holding till the price of Bitcoin increases to 100k you could imagine how much in Naira that 1 BTC would be but on a second thought it won't be a bad idea to diversify some portion of that money into Real Estate then continue holding the remaining and still get more profit after long-term holding and also from Real Estate as well. I think your second paragraph is on point, there's a saying that opportunity sometimes comes once in a while and if one doesn't use the opportunity wisely then it would take them longer to become successful again. The funny thing is that there are some people that's still going to spend the money anyhow and surfer later . Hoping that another opportunity will come , the thing is that the best way to make good use of opportunity is to think that there's no other one coming apart from this one so instead use the opportunity you have now to open even more opportunities.
The truth is that at first nah to find way to start business wey go help me grow financially and also financially stable, and also take care with some expenses but the thing is that I will hold a larger percentage for long-term profits. Then I will continue to boost or build my Stashes with some percentage from the money I will be getting from business.
The funny thing is that there are some people that's still going to spend the money anyhow and surfer later . Hoping that another opportunity will come , the thing is that the best way to make good use of opportunity is to think that there's no other one coming apart from this one so instead use the opportunity you have now to open even more opportunities.
The funny thing is that there are some people that's still going to spend the money anyhow and surfer later . Hoping that another opportunity will come , the thing is that the best way to make good use of opportunity is to think that there's no other one coming apart from this one so instead use the opportunity you have now to open even more opportunities.
Quote from: EarnOnVictor link=topic=5472033.msg64612465stake4612465 date=1728387091
I will buy a bulletproof car with it...lol 
😂, you too wan join d oppressors abi? Why you go need a bulletproof car wen nothin dey at stake. All dat na unnecessary attention. Abi you wan begin chase wetin nor chase you because wealth don show? Why not quietly enjoy ur 1BTC by staying low-key and reinvesting it and all dat. That's the line I would toe if I had it.
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Anyone in the country who has the privilege to own 1 BTC and later become poor should be bittered with.
Well, dat go depend wen dat persin had d 1BTC as we go realize sey a decade ago BTC nor too get value and having wan dat time nor be big deal. Na d same way wey most of us get alts wey nor worth something now. Maybe in the future dem fit be better money and someone somewhere go begin regret why dem sell their own. E dey happen now.
If I have one BTC now, I'm heavy on investment because it's not wise to have money and not take action to multiply it. No matter the amount - million, billion - if not managed properly, it can finish. The difference lies in how long it takes before it finishes.
So my plan is to allocate my BTC into quarters:
1. 25% for investment: real estate, stocks, and additional Bitcoin.
2. 25% for setting up my life: securing a home, insurance, supporting friends and family.
3. 25% reserved for future use.
4. 25% split into three:
- Miscellaneous expenses.
- Charity and philanthropic causes.
- Godly investment.
My focus is on investment, gradually improving my lifestyle, and securing my future.
So my plan is to allocate my BTC into quarters:
1. 25% for investment: real estate, stocks, and additional Bitcoin.
2. 25% for setting up my life: securing a home, insurance, supporting friends and family.
3. 25% reserved for future use.
4. 25% split into three:
- Miscellaneous expenses.
- Charity and philanthropic causes.
- Godly investment.
My focus is on investment, gradually improving my lifestyle, and securing my future.
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Ok, you are correct
People have different plans base on their bleeding needs
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Regards
Bitcseo
Ok, you are correct
People have different plans base on their bleeding needs
===============================
Regards
Bitcseo
Let me start by correcting you that the N27,110,056.50 exchanged value you came up with is a heresy, the actual value of 1 BTC in Nigerian Naira is way more than that. By my rough calculation of 1 BTC at $34,100 and $1 at N1155, we should still have a whopping N39,385,500 (34100x1155)N. My guess is that you used the official exchange rate, but this would only amount to a serious miscalculation as how many people dealing with Bitcoin use the official exchange rate for their BTC/USD to NGN exchange? I guess no one would do that since there is access to higher P2P rates. We are already dealing with an electronic payment system and this is where we get our fair exchange rate which is so close to the parallel market rate. No one would like to cheat themselves with the official rate while they have access to a better one. Or do you do otherwise?
However, those whom you call white might be in a very sane country where there is value in living and ease of making money. This is unlike Nigeria where we all know the hell being faced here. This is why we don't think like them as their country has provided a conducive environment for them, they can even use their 1BTC to buy a mere watch, but Nigerians must be smart.
Frankly, If I were in this shoe, I would divide the money into 3 parts. The first part would go for agriculture, the second part would go for business, and the third part would go for land acquisition. There are many other combination alternatives but this is a viable one that should have passed the gist well across. There is no need to waste my money on frivolities, all I need is to enjoy the necessary things of life in a moderate form which I believe the proceeds from the investments of the money could easily provide for me over time.
However, those whom you call white might be in a very sane country where there is value in living and ease of making money. This is unlike Nigeria where we all know the hell being faced here. This is why we don't think like them as their country has provided a conducive environment for them, they can even use their 1BTC to buy a mere watch, but Nigerians must be smart.
Frankly, If I were in this shoe, I would divide the money into 3 parts. The first part would go for agriculture, the second part would go for business, and the third part would go for land acquisition. There are many other combination alternatives but this is a viable one that should have passed the gist well across. There is no need to waste my money on frivolities, all I need is to enjoy the necessary things of life in a moderate form which I believe the proceeds from the investments of the money could easily provide for me over time.
☕☕☕💸☕☕💰☕☕☕💰☕☕💰☕☕☕💵
Hello Victor, you started wisely but, the closing part of your comment left me speechless.
I was expecting that you would make mention of medical or health insurance for you and family. As in most under-develop countries. The citizen lack such benefits from govt.and in case of emergency, the citizen are left to struggle with health issue's alone.
☕☕☕💸☕☕💰☕☕☕💰☕☕💰☕☕☕💵
Regards
Bitcseo 》 from Rome
Jokes apart, you raised a serious point and I appreciate that, but at the same time, people's plan differs. Some might follow the common and obvious path about their future health and financial plans, while others might follow their own plan. As you can see in those investment plans above, they are about diversifying the investment portfolio, so enforcing them also means you are financially free, they will take care of the health expenses.
People buy physical gold for reasons, and so are some lands they do not need. These are to secure some unforeseen expenses like health even though we do not pray for any health challenges. Not everybody will go to insurance companies to do that, you can do that with your plans too. You just have to be smart with it and carefully define each purpose of your investments.
Waoo this is a tempting one but with that kind of money personally I will make allot of things to change within my power and make sure that the immediate environment where I stay is positively affected, with that amount which is billions of naira in our local currency I will first of all setup business that I will give me return on investment I will do that by setting up a company which is into production and that company will employ nothing less than two hundred person's as that will help reduce unemployment in our society also the crime rate will also drop as there's a link between crime and joblessness.
Secondly I will set up my own NGO that will be interesting in helping the less privileged and taking out of school children back
Secondly I will set up my own NGO that will be interesting in helping the less privileged and taking out of school children back
Let me start by correcting you that the N27,110,056.50 exchanged value you came up with is a heresy, the actual value of 1 BTC in Nigerian Naira is way more than that. By my rough calculation of 1 BTC at $34,100 and $1 at N1155, we should still have a whopping N39,385,500 (34100x1155)N. My guess is that you used the official exchange rate, but this would only amount to a serious miscalculation as how many people dealing with Bitcoin use the official exchange rate for their BTC/USD to NGN exchange? I guess no one would do that since there is access to higher P2P rates. We are already dealing with an electronic payment system and this is where we get our fair exchange rate which is so close to the parallel market rate. No one would like to cheat themselves with the official rate while they have access to a better one. Or do you do otherwise?
However, those whom you call white might be in a very sane country where there is value in living and ease of making money. This is unlike Nigeria where we all know the hell being faced here. This is why we don't think like them as their country has provided a conducive environment for them, they can even use their 1BTC to buy a mere watch, but Nigerians must be smart.
Frankly, If I were in this shoe, I would divide the money into 3 parts. The first part would go for agriculture, the second part would go for business, and the third part would go for land acquisition. There are many other combination alternatives but this is a viable one that should have passed the gist well across. There is no need to waste my money on frivolities, all I need is to enjoy the necessary things of life in a moderate form which I believe the proceeds from the investments of the money could easily provide for me over time.
However, those whom you call white might be in a very sane country where there is value in living and ease of making money. This is unlike Nigeria where we all know the hell being faced here. This is why we don't think like them as their country has provided a conducive environment for them, they can even use their 1BTC to buy a mere watch, but Nigerians must be smart.
Frankly, If I were in this shoe, I would divide the money into 3 parts. The first part would go for agriculture, the second part would go for business, and the third part would go for land acquisition. There are many other combination alternatives but this is a viable one that should have passed the gist well across. There is no need to waste my money on frivolities, all I need is to enjoy the necessary things of life in a moderate form which I believe the proceeds from the investments of the money could easily provide for me over time.
☕☕☕💸☕☕💰☕☕☕💰☕☕💰☕☕☕💵
Hello Victor, you started wisely but, the closing part of your comment left me speechless.
I was expecting that you would make mention of medical or health insurance for you and family. As in most under-develop countries. The citizen lack such benefits from govt.and in case of emergency, the citizen are left to struggle with health issue's alone.
☕☕☕💸☕☕💰☕☕☕💰☕☕💰☕☕☕💵
Regards
Bitcseo 》 from Rome
Are We still to reply this Now that it's Huge (smiles)... Like someone rightly predicted... it's over double the worth then Now. And if I have the Permission to say My Own Mind. One Bitcoin Done set My Art Studio and Gallery Be that. And I go Buy Real Estates no be lie.
It's no news that the economy of our country is draining day by day, leading to more Bitcoin advocates in the country. With the continuous hardship in the country, I bring to y'all this topic " what to do with 1 BTC as a Nigerian".
If I don't invest it in bitcoin I will invest it into what I know Nigerians can't do without in this hardship. Even if I buy a car with the money I don't think it will be the best because of cost of petrol, even if I want to use for a transportation business, with the price of petrol I may not meet up to cover other expenses to maintain the vehicle. Even if I want to go into real estate I don't think it will be best for me because of the cost of materials to build. Every Nigerian is thinking of how to survive, so I think food stock would be the most profitable business to go into now.This is not a time anyone can just start up any business, because of inflation if you go into business that or investment that you don't have good understanding about you can easily lose.
As you talk am nah him be the best oo, we are talking of approximately 105 million naira, ahh that money will go a long way in food product, all you need to do is to become a whole-seller or a retailer but you still need to go get some knowledge about it because if not all good products that will yield a very good profit. Still in the food product you can still buy and not sell, because the cost of food have made some Nigerians avoid other food products like noodles, in some regions rice, beans, and yam while in some regions they still have the higher demand of this things. So in any business it will not be that easy as expected, but you go get better business with that amount, one bitcoin is now a huge amount of money in Nigeria.
It's no news that the economy of our country is draining day by day, leading to more Bitcoin advocates in the country. With the continuous hardship in the country, I bring to y'all this topic " what to do with 1 BTC as a Nigerian".
If I don't invest it in bitcoin I will invest it into what I know Nigerians can't do without in this hardship. Even if I buy a car with the money I don't think it will be the best because of cost of petrol, even if I want to use for a transportation business, with the price of petrol I may not meet up to cover other expenses to maintain the vehicle. Even if I want to go into real estate I don't think it will be best for me because of the cost of materials to build. Every Nigerian is thinking of how to survive, so I think food stock would be the most profitable business to go into now.This is not a time anyone can just start up any business, because of inflation if you go into business that or investment that you don't have good understanding about you can easily lose.
Anyone in the country who has the privilege to own 1 BTC and later become poor should be bittered with.
Just bittered?. Such person should probably be sued for reckless spending, or maybe disciplined even though he/she is grown up. Truth is, there are some Nigerians that can do it, maybe due to being foolish or ignorant.
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That amount is about N108,000,000, it's big enough to rescue you and your entire family from poverty if well-utilised.
Bitcoin, Gold and Stock/Index markets will take care of the online investment, and of course, landed property and real estate will take care of the online investment. I will then proceed into agriculture and other wholesale and retail businesses.
Bitcoin, Gold and Stock/Index markets will take care of the online investment, and of course, landed property and real estate will take care of the online investment. I will then proceed into agriculture and other wholesale and retail businesses.
what exchange rate did you use in making the calculation?. 108M is quite a massive amount that can do alot regardless of the current economic crisis. Personally, I will prefer online related Investment options, and landed/real estate. Agriculture investment takes more because you will definitely need to get workers that will work for you, and pay them.
As a Nigerian 1BTC would go a long way in anyones life to build wealth and an empire. If I had this I would probably invest in agriculture and start up my own transportation business, these are businesses that can create a lot of wealth if handled properly. Sometimes physical businesses are the best to invest in, if you consider trading or making investments online always remember that the financial market deals with constant volatility so therefore it's possible for you to lose those funds overtime. Well, everyone has their preference and ideas, this is mine.
1btc is currently above 60k dollars and as a Nigerian converting it naira would be about a hundred million naira with the current dollar to naira rate. This amount of money is quite huge cause you have an industrious mind you will never be poor in your life again, having such an amount of money is a stepping stone to build generational wealth. Everyone would definitely have a plan for an amount of money they haven't made yet but the is would you be able to stick to those plans when you finally make that money. Personally I would invest in physical assets like real estate, lands and probably open shopping malls. And I would also focus on trading so my money can keep producing more money.
Like this OP make we comot joke like this, if I just see 1 Bitcoin or money wey amount to 1 Bitcoin I go turn Sabinus 😅 hehe..
If I'm to be in such possession I would hold better part of it in Bitcoin and use the rest make things much comfortable for myself and family but comot joke I go flex normally, still setup one or two investment aside Bitcoin wey go dey fetch me daily living.
Guyyyy... 1BTC I go first chop!!! 😂 To be frank 1btc should be 68 million naria or thereabout, Omo na either for investment or real estate the money go enter. Although movement toward the industrialization of daily food stuff business wouldn't be a bad idea either If I'm to be in such possession I would hold better part of it in Bitcoin and use the rest make things much comfortable for myself and family but comot joke I go flex normally, still setup one or two investment aside Bitcoin wey go dey fetch me daily living.
-snip-
We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
I will buy a bulletproof car with it...lol We really don't have to limit it to houses and cars only, just generally as a Nigerian what would you do with 1 BTC? Get a business, trade , hodl, real estate and many others...
Anyone in the country who has the privilege to own 1 BTC and later become poor should be bittered with. That amount is about N108,000,000, it's big enough to rescue you and your entire family from poverty if well-utilised. For me, I will divide the utilisation into business and investment, and that investment will be both online and offline.
Bitcoin, Gold and Stock/Index markets will take care of the online investment, and of course, landed property and real estate will take care of the online investment. I will then proceed into agriculture and other wholesale and retail businesses. I don't think I can ever be poor again with this distribution.
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