Topic: What to do with 1 BTC as a Nigerian - page 2. (Read 1238 times)

Though it's a well thought idea to continue to hodl a 1btc if you are to own it today but I'll prefer dividing it, withdrawing a part to build other physical business investment as a way of clinical diversification because it's not a good idea to have all eggs in one basket. Venturing into making profits from other sectors makes it's more appealing to me as a business man than having all in one place investment.

Anyone who receives such huge amount of money and decides to lavish it on unnecessary and luxurious splendours doesn't for sure knows the harm he's treading into, and probably doesn't deserving being in position of such amount of money. Even if I wish to live a quality standard of living it doesn't mean I have to spend with frivolity.

Hope you guys noticed that the price of Bitcoin currently has gone twice of the figure it was from when the OP posted, that's to let you know the potential Bitcoin has and anyone who's still in doubt should jump in now that the price is still cheaper cause Bitcoin has the potential of even making it thrice of that price in the near future. Based on our current economy, 1 btc enough to change the fortune of an average Nigerian therefore it's in the best interest of anyone who's opportuned to gifted that amount to use it wisely and instead of spending it on unnecessary things like buying fleets of cars for luxury and house I expect the person to monetize it. For instance, start up a transportation business or invest in real estate. Left for me I'll divide it into three place, hold one part, invest in transportation or real estate with another part and keep the remaining as an emergency or reserve funds for unforseen events in future. Atleast, I'll be getting money to use in Dcaing periodically from the business, I won't advice anyone to go into trading cause it's not the concept of Bitcoin investment and has high risk factors that could make one lose more than they intend to gain.

A single bitcoin is enough for someone to take a lot of steps in life, just as you said, spending money on unnecessary things cannot make someone grow richer rather it will make you more poorer. So the first thing someone should think of when you have 1BTC is how you are going to make it 2BTC. From 2 to 3BTC until it becomes a great deal (a lot). Spending or lavishing 1btc that you have cannot make you responsible because the more you spend it, the more it reduces until you will be left with nothing. But if you hold or trade with 1BTC that you have, you will be able to achieve a lot of things with the profit you made. It will be beneficial to you and your family including your upcoming generation. If you have 1btc and you spend it buying unnecessary things it will vanish but if you think wisely and trade with it, it will come back to you in multiple.

OP I agree with you, 1btc in Naira currency is #27,110,056.50 but you can use this 1btc in any business that can be a source of livelihood for your family. Suppose this 1btc of yours starts to depreciate when your country's economy infrastructure collapses leading to loss of household livelihood. So, according to me you can look for other ways by dropping this 1btc thought and when your bitcoin reaches its certain level you will get gold reward, which can be more than current market (three/four times). With DCA method you can participate in bull run by investing your BTC but it can be boon for you in future.

Big 2024 person use investment profit play? Commot 1 BTC first and the plans aside I no see person wey ready to misbehave with this kind opportunity. Even if some Dey, 1 BTC is something else and the best thing for here na still investment or business wey dey profitable or else humans and money. The money wey op talk no be money person go squander so quick and there’s a proper plan for investing so if person get to that level of bitcoin na to withdraw with strategy, personally I feel say physical investment go good like real estate, land etc presently for naija.

How rich you’d become with bitcoin current price is just too big of something to just think about seeing this price. This price is not just a small price to Nigerian currency and citizens of the country know how well this money can do to solve lots of their problem and still have disposable income that can still be invested in bitcoin when managed properly. This is not about bitcoin but about the exchanging value between dollar and naira that’s making this money so high like this. 1BTC as a whole is a very large amount that what he does cannot just be measured by the word of mouth because it’s actually a large amount to take someone out of the trenches.

It's quite interesting to see how the price of Bitcoin have skyrocketed so high from #27,110,056 to #98,849,276
just within the space of 1year, a whooping 300+% profit, of which wouldn't have been possible, if such huge amount was placed in fiat banking system for even 10yrs, but yet BTC made it possible within a single year. So 1 Bitcoin is really a huge sum of money that could go along way, of which that amount is huge enough to build or buy mini 3 bedroom flats, and yet get a Toyota Corolla and probably if you intend start a business, its enough to start either or boutique business or standard Mini Supermarket

Even has different priorities, some priortize flashy things over assets. If you can make up to 1 btc from crypto you must understand that it's not financial stability yet because that money can be exhausted, you are only financially stable when the you have something that generates money for you, people forget that money isn't unlimited, it can get exhausted if you don't have a plan. If you don't know what to put your money into invest in real estate or buy shares in a company, just make sure you have an investment

Acquiring real estate or landed properties is a good use of 1 BTC and in addition, I think one can buy gold and other precious ornaments for future reinvestment purposes upon sale or liquidation.
For me, my thoughts on how to spend 1 BTC ain't much different from yours, but I would rather buy several businesses and put under a management that ensures that there's annual profit and reinvest the rest into other cryptos with both long and short term profits, because I believe one doesn't and shouldn't ignore the source of wealth that has made them millions and is a sure guarantee and hedge against inflation.

Yes Agbe, N88,183,000 is a lot of money and I can tell you that if invested wisely can be turned into generational wealth. With one bitcoin, I'll buy a good landed property in a choice area. One of the businesses that gives a good return on investment in the city where I live is the short let business. I mean a fully furnished and serviced apartment where people chose to stay when they visit the city rather than staying in hotels. It is majorly for those which deep pockets who love luxury and privacy. That's what I'll do and because they pay an average of N50K per day you can imagine how much one would make if they have different guests every other week.

As of then 1 BTC was equal to  $34,100 and now currently 1 BTC is $54,100 and and $1 is N1630 therefore $54,100 is N88,183,000. Wow!!! That huge amount of money that can lead someone to the middle class living in the country. As for me I will use the formula of 50/50. Which should be N44,091,500 to invest back and the remaining balance of N44,091,500 to start an Estate business. But we have different opinions and different thinking and different expenses. Those who have been in the cryptocurrency space for a very long time would like to invest more even if they use half as I demonstrated before. In the situation we have found ourselves now in the country, opening a good business that can fetch change as income for you to solve some of the daily bills will be good to start with.

Currently now 1 BTC is 87664576.69NGN if I have it now it will be very good for me because I will send must of it in buy houses establishing my business and investing it in agriculture

  op thanks for this thread but would be better making reference as this topic is already in existence in the main board. Normally considering the rough estimate done here so far from 1btc to dollar from dollar to naira, the money dey huge. And to me it is quite enormous for expansion.in life you don't live to only make life meaningful to ur self alone, the beauty of life is to impact in other people's life positively, as such setting up a legit  business like real estate, land acquisitions , gas filling station that will attract employer of labour with good management no go bad. Meanwhile this should be done with majorly our profit.while buying and long holding of btc becomes our most priority.

Everybody get their own plan but for me, as you just talk am say you go hold the better part of the bitcoin and use the remaining part chop life E no bad because even me na waiting I dey think be that but my brother if you get that kind money or 1 btc for hand my brother you go first compos yourself and how your go take spend am, you fit reason am say you wan keep some from the bitcoin but I believe say you go spend more than half of it to settle yourself and your family, with this kind hard economy wey we dey face for Nigeria so I fit sell my own all use the money start a business wey go bring profit and I will be able to buy bitcoin.

Na who belle food dey hold bitcoin, the first thing wey come your mind if that 1 btc enter your aza na to solve your problem ooh, in fact I believe say you go build house and also buy car, and you will like make you get business wey you go dey do and be able to put food on the table, although 1 btc no be small money for Nigeria now but my brother if you look at your condition you go like make you sell the btc use the money settle yourself and your family.

Yes! Like I said before I wouldn't want to emptied my bitcoin holding because I know that in time to come bitcoin would still double the price now and if one emptied their wallet to other investment they would still regret for not keeping some percentage to bitcoin than just pushing out to physically and landed properties. On a stance Bitcoin if not for the volatility nature then I can say there isn't any need having other investment rather than to keep stacking more and more bitcoin and of course in future be it 10 to 20 years time to come you would see that today we are still in a better chance to accumulate enough volume than when it would get to that time when we could no longer have that much access to much volumes of bitcoin.

Landed property is just the right investment for that kind of money because that's the trending business nowadays and so many people are making a lot of money from it, actually is not like there are no more profitable business aside from landed property but as an entrepreneur you are not just looking at short term profits interval but instead you are looking at something that would last forever because we all know that there would come a time in everybody's life when they will no longer have the strength to work so those investment will stand as a monthly or annually income generator for them, so actually I love your investment ideas because is a very lucrative investment to venture into and also if I'm given that kind of money landed property will certainly be my first investment because it comes with a lot of good advantages.

But the thing is that no matter the interest someone would have on other investment be it landed properties they shouldn't empty there Bitcoin portfolio because is very important for someone to remain some amount for holding while they continue there other investment because the potential of Bitcoin is no longer hidden to anybody so we all no that anyone who is willing to hold will certainly benefit huge from Bitcoin, so always keeping some amounts is very important.

This is the part where one has to use his common sense because this is money we are taking about just as you have said having 1Btc in this time that we are to me so many I thing are going to be gained firstly luxury should not be the frist thing that should pop what of one's head, taking half part of the coin and hodl for a start then after that is be done  then use the rest to cover up and you can just chose to open a mini mart store or phones store...
I think it should be a start if I have the opportunity just as you have said.

One bitcoin is more than enough to solve one million problems, and since it is an investment the moment you decide to keep it then making a profit from it will be very good because
you will always bring back profit, the money might be huge but mismanagement of it might make you lose everything, its a thing of choice if you don't want to keep it then you should spend it then another investment because that matters a lot because seen money and not spending it is another big challenge. your motive is good, unlike some people who would have chosen to spend it on luxury.  instead of investing it.  you can even start a good restaurant with that money, there are a lot of businesses you can do the moment you don't want to invest in Bitcoin or crypto entirely. you can use it to be financially free, luxury will not give you anything in return, investment should be what comes first, then when you start making returns then you can start going for luxury and go for what ever you want.

One Bitcoin can go a long way in the country, and many individuals find it tough to deal with things. If you receive 1btc, it's best to invest it in a physical business to solve your problems. If you don't use it wisely, the money will be lost. By doing so, you can increase your profits and invest in bitcoin for future gains. Because if I have 1 bitcoin, the first thing I will do is think about what tangible business I can start to benefit myself and make money from it. So that if my bitcoin money finishes, I know that I do something mindful with it and I will be getting fund that will support me in many things but if you doesn't think well you will definitely spend it anyhow, if not you are the one that invest on bitcoin and you get profit on it you will definitely get knowledge about what you will used it for, but if you get it for free you just be using the money and be buying things that won't help you when you are broke.

This is the best advice indeed if inflation wasnt a thing to be concerned of. Yet, it doesn't stop us from trying out that good business we have pictured in our mind to do. When you think of how fast the pricce of things are going storing the bitcoin for lnog term may not help solve it. But taking oout 50% to venture into a business may help in so many ways.

1. Once the business starts yielding sustainable profit we won't tap into the remaining 50% of our Bitcoin instead we will have more to keep investing in it.
2. A good business we yields 2x  the capital used to start the business at least in an interval of 2 to 4 years. Still the business will be up and running yielding more profit and growing as well.