Topic: What to do with 1 BTC as a Nigerian (Read 1238 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.

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.

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.

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.

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 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.

😂, 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.

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.

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Ok, you are correct

People have different plans base on their bleeding needs
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       Regards
       Bitcseo

I must say I am overwhelmed by these cups of coffee/tea and the many amounts of cash and coins attached to them...How I wish they were real in this pressing time in the country...lol

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

   ☕☕☕💸☕☕💰☕☕☕💰☕☕💰☕☕☕💵
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.

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.

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.

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.


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.

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

I will buy a bulletproof car with it...lol

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.

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.

Op actually in regards to our current economy depreciation of currency and value of things one BTC can still change life if beginner who invented it Wise mostly on the commodity that is always needed by the people , I see that agriculture is one major commodity that eventually human can't do with as long life is in concerned human must eat food you can invest in agriculture, example potatoes production where you can get finished product in form floor well package, even pig farming. But relating this in another dimension everyone hard their needs and desire differs what becomes your plan or dream may not actually be for another I believe that one BTC can actually changed a narrative of one without a good begining to a greater height depending on the type of investment in which it's put on, because not all investment is actually yielding result due to economy breakdown so in a time like this current economy you need invest in line with the current need if the people to get the required result.

Op wetin I go use 1btc as a Nigerian do depend on the kind of life wey I dey Live now. If I'm poor and struggling to survive I will definitely sell and improve my life to suit me, then I will invest in landed properties, invest in my country by opening a company regardless of its situation (it could be satchet water factory) at least it will help take a few youths off the street and lastly I will invest in Bitcoin through the DIP.

But if I'm rice or an average Nigerian that can afford things for myself and everyone around me then I will continue to hold on to my 1btc till the Bull comes because I know I will make more profit during the bull run.

With the current price of Bitcoin at around $60,800, if you convert it to our local Naira, the money will be around 97,505,000 Naira, which a huge amount of money, and in Nigeria if you have this amount of money, you are rich and you can handle good business, but with this current economic situation, there are several reasons why business will not mover very fast because the government officials are also into business and are very selfish, they want all money to be among them and no one else.

If you have one Bitcoin, the best advise I can give is to keep holding your Bitcoin because buying shares with banks or any centralized authority is another means of centralization, and bringing out huge amount of money can lead you to thorough investigation through EFCC and other government security bodies, therefore, Leaving your money in Bitcoin is a good investment on its own, I don't think withdrawing the Bitcoin is good solution, unless if you have a good business plan you are convinced on, you can withdraw some certain percentage and I will not advice you to withdraw all your Bitcoin because it is a store of value against inflation.

Our currency devaluation makes business to become liability to small capital business people because to earn a leaving alone is something very difficult in our dear country.

Farming can be a good option if you have land to farm or if you have a place to rent land for farming. But here in the northern part of Nigeria, we have been suffering and battling with insecurity which makes farming a bit difficult for us to invest in, but farming is very good because the country needs food to survive.

If the land is in a good area, in future you will benefit more from the house that you built for rent. I will also set up a big farm because hunger is the problem that we are facing in the country since Tinubu administration took over from the old one. Farming is a very lucrative business now because food stuffs are very expensive and the cost of eating a good food in the restaurant is expensive too.

I would not sell all my bitcoin but I will keep some because bitcoin is also a good investment to keep value in because I believe that it will generate more profit than house property.

Nothing much as I feel 1 bitcoin with the current price if equated to Naira today will used them to buy few landed property also used the money to build and rent it out to people which would further keep generating money for me till life time. It's a kind of investment that would last for years even till my disappearance on Earth. However, I would still keep percentage in bitcoin because I know it would increase more than this in time to come.

I will diversify my money into at least 3 streams of incomes. I have the philosophy of the Garden of Eden. As the 4 streams flowered in the Eden and watered the Garden of Eden, so will I divide my streams of income into 3 to 4 based on the resources available at my own disposal. 1 BTC is worth over 94 million naira today, so if I was meant to do business with it, I will divide the funds into 4 places.

The highest percentage of it will left in my wallet, I will use one share of the money to invest in real estate business, either by acquiring a property worth 25 million naira in a rapidly growing suburban area within Abuja. Another part of the will go into investing in my PR Company where I intend to upscale the business through acquiring a bigger and more physical office in Abuja to enable me carry out my academy. Thirdly, I will invest some part of the money into my apparel brand.

In conclusion I will do a whole lot if I get 1 BTC at this current rate and price now and I don’t even know how come I’m just seeing now since 2023 but I guess it was the period I wasn’t active on the local board but frankly if I get 1 bitcoin at the current rate and price, I will split the money into two equal halves and leaving one half to yield more profit as I wouldn’t want to be left out of the other blessings and opportunities that comes with it and the other halve will be brought to the physical world as you’ll agree with me that, you need to be alright in the physical world to be performing efficiently in the digital world and as such I will use the other halve to fix my life and put myself in position that I wouldn’t have to touch and bother about the other half thy I will be holding.

First you suppose know say bitcoin don pass dat amount noow for market so you no go fit get bitcoin for $34k again, currrrently,  e dey around $55-$62k dem and of a truth, that no be small money for we country and if person hold dat kain funds for we country, dem fit dey call am pablo sef lol. That kain amount fit buy beter things for anybody wey get am for we country now, one of d thing wey dat kain amount fit buy person for we country now na motor, house, and oda things wey be say personneeed to survive.

Me enh if dat kain money enter my hand wey be say e huge like dat, i know say e fit buy me house and motor oh but no be wetin i go rush go buy be dat based on say if i buy am finish, at the end of the day, e go be say i go just go broke make i for find anoda money make i for use fuel d car and to fit dey survive for the house. me fes na to sharp sharply go use am set up one business because i belive sy money we dey inside business fit later born  more children wey be say go be more money for me but if i go buy house fes and motor, na d end be dat.

I just come across the post today, what one bitcoin can do, let me view it as Nigerian, this one bitcoin now when you convert to Nigeria naira is about 96,841, 653,00  according to my own research, looking at this money now is a lot of money,  as a Nigerian actually this money can really go a long way, the first  comes to my mind is to invest in many businesses to generate more of it, it good not bad, but today when I'm member of bitcoin forum what comes to my mind is to keep it for feature use, what I mean by feature use, for me to invest it into businesses that I don't really know the outcome to avoid regret,

But when I keep bitcoin for a long period of time I know bitcoin price can change at anytime that can add more money to it, infact if I have bitcoin I can't advise my self to sell it because I know something bigger will come out if it,
    One bitcoin can really go a long way.

you can do better than bumping the board with series of back to back questions on same thread while you appear to already have the answer to what you're asking. You just adviced someone to keep holding to his 1 BTC and here you are on same thread asking the same question you assume to have knowledge of.

These are the kind of things newbies do that attract criticism and then you come out to express yourself as though you've been attacked. The forum is open enough to house you but as a starter you've got to start off in good terms so you don't miss it even right from the onset. If you have questions  or clarification on how to get started with Bitcoin and if it's right to still buy now, you can make use of the Beginners and help section or go to the speculation board which should give you all the needed information and guidance that will be a good booster for you to navigate effectively through the forum and to also invest wisely using strategies that's effective and according enough for your class of investor.

There are many things you can do with one bitcoin but before I will give you my opinion, I want to chip in something about the economy. Everyday, we complain that the country is getting hard day by day because of the new policy implementation but do you know that as policy change, the economy favoritism changes too and it's changing from group to another group, so anytime we complain that the economy is not favorable, just know that there are people that are making millions in that hardship others are complaining about, it is left for  you to make use of the same opportunities that group are using to make money, that is how the economy changes and it's okay for change to occur.

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If you are given a single bitcoin, the next line of actions comes from how well to do you were before the bitcoin was given to you. If you are financially buoyant and very okay, it will be very easy to hold it without looking at it for a long time but if you are hungry man that has financial challenges that can barely eat 3 squire meal, the first thing that will come to your head is how to spend that bitcoin. A hungry man cannot be holding money for investment and be thinking of investment, it will not work.

However, even if I'm not financially okay, I will not spend everything. I mean look at how bitcoin went to $58k+, if that should happen again, I will sell like 15% sats and take care of myself because health is wealth and I will sell the rest at all time high and then wait for the price to retrace again and then buy back, if the price retrace even lower, I may be able to have more than a bitcoin next time when I buy it.

I barely understand the contexts of your post after I was enticed by the topic but bringing in here the threads of the similar thread from the other boards as you said you had paved a much understandable backup for you.

However, if you mean to ask what I would do with 1BTC or having the money equivalent to 1BTC, that is not a thought for just Nigerians alone but basically for anyone who owns Bitcoin both home and abroad just as you briefly entailed "the foreigners who talked about owning a car and houses if got 1BTC".

I honestly does not see an average citizen in Nigeria with the current hardened economy being able to own 1BTC or equivalent. Hungry dey oh. Unless there is an overnight supersonic bull-run in the market value.
So eventually I have such a stake, I would set up an algorithm fundamental obligations by diversifying my investments including essential liabilities because it has been on a long time budget but doesn't mean to living a luxurious life considering the peak of a savage poverty

Hence, the fear of poverty would be my ring tunes to avoid "once upon a time I was rich". This singularly would be served as significant gearing-up to Invest in my financial growth and not settling for less.

I know those threads from other boards and it remembers me of a well-known saying:
Don't dream for success but work for it!

Dreaming might be pleasure but it is unproductive waste of time which you could otherwise use to learn something new, improve yourself or do something good to your family and friends.

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As an outsider, i have some difficulties in understanding the Naira problem:
As mentioned above i already noticed that there are two prices for USD/Naira the offical one and the real one. Therefore the Bitcoin Price in Nigeria (corresponding to the official rate) seems to be much highter for the rest of the world. Is that valid for all commodities?  
For example gold: how much gold could i buy as a nigerian for 1 BTC?

What more can we say than to set up a business that generate daily income that will help us reinvest on bitcoins.  The idea of buying those things as desired by the white is unwise. That will bring me back to a story I read about, a musician used 20million naira to build a house and another man use thesame amount of money to start a bank. After many years, the owner of bank turned to multi billionaire while the musician house has become a dilapidated building. At the stage of world economy now, no normal human being will prioritize extravagant life to real investment. As far as Nigeria is concerned,  1bitcoins Is enough to start a medium scale enterprise.

As for me, this are the list of business I will venture into
1. Satchet water factory
2. Bottle water production
3. Poultry and fishery
4. Provisions
5. Selling of materials : electrical, bricklayer, plumber, aluminum glass, abestos, doors materials.

Bros na truth you talk but the real matter be say if that kind money enter  my hand I go try as much as possible to make the best out of it. I know the body need flexing to we all have that gene in us good life vibes 😄  1 BTC no be here oooh I see person life don change be that ooo , I go just get one kind business when go dey bring more income.becuse the way the country dey go before the change we dey look for go come we don suffer taya.

As a Nigerian that  faces different kind of challenges, there are quantum of things I will do with 1BTC, Omo  I will try to impact positively on the economy to the extent my strength will carry me, because I can only do my best. I will as well touch the lives of the less privileged in our society. That money in our local currency is big, so my impact in the society too will be big.

Nah true you talk, even some places self, you fit use you one BTC do enough things for your self, like from bachelors to married man, buy a car, buy a house and also launch a new business that will also fetch more money for you, your plans are good ones and hope you can stick to it by hold fore dear life, however it is not an easy task to hold or accumulate Bitcoin till 1btc but with discipline and constant income that you are getting from your job you can easily achieve 1 BTC in a twinkle of an eye (dey play).

Op, if I get 1BTC now, I go divide the BTC into two equal parts, I go still dey hodl one part for bitcoin so that if bull run comes I go make a better profit and I go convert the second part to Naira to use start business so that I go dey see wey tin I go carry dey hold myself and dey wait for the bull run to come. From that business wey, I go start I go dey take money dey buy bitcoin small small with the DCA strategy. Because if I say make in hodl the 1 BTC and I no get anything way go dey give me money to survive daily, when hunger go hold me, I no go get any other choice than to go sell my bitcoin to fit see money to use chop food even when the Bitcoin done dump for price self. But if I dey financially okay, who I be to sell my 1BTC? wey dey very hard to get now, I go hodl the 1BTC until in give money wey go give me my financial freedom. After the 1BTC done gives me the financial freedom I fit decide to enjoy my life anyhow because the money done long.

Omo the money huge ooh but even if say things they cost well well for this country but if I get 1BTC omo things way I go use am do go plenty ooh, first I go use am go collect better house German standard, for my state the price go they like 19 to 21 million.

Then the remaining ones I go use am for investment way go they yield better profits on daily or weekly basis for me, omo getting that kind money your life done sweet ooh waiting person they find again na, na to just they your office they run your business.

Omo 1 BTC for Naija now na big money o. For PH where I base, you fit use the money for 1BTC achieve plenty things them. E get some kind houses them wey be N28m and some even dey N20m. So person wey get 1 BTC like this don become landlord for PH and untop of that some money go still remain to fit do other things them like start up a business or buy a car or even both of them.

If na only business person wan take 1BTC open ehh, na better plaza person go arrange o. You fit use the money take bring better container from China if you sabi the road.

Those Naija Bitcoin millionaires them dey live large now o... we go reach their sha na small small.

I don’t agree with the idea of selling one bitcoin in the name of diversification. Not even diversifying in dollars come be say na Naira that one na die na. Na big mistake be that. 1 bitcoin na real treasure be that. This person wey Dey say him go sell bitcoin to diversify in Naira no really understand say bitcoin na the main investment wey go give you rest and give you guaranteed profit within the shortest period of time. Let’s imagine say him sell come build house for rent for any city for Naija as him say na real estate be him problem. If him spend #30m to build for place like Port-Harcourt maybe 2bedrooms apartments and he has like 6 units of it and the rents come be like #600k per year. Each year year him go make about #3,600,000 and the thing go take am about 9 years to make back the capital invested to construct the house and start making profits. Imagine the amount of time him go take to get back his capital and the value of Naira in that year won’t be the same again as Naira keeps depreciating every year. And the condition of the house won’t be the same. Considering taxes and repairs and others. There is no bitcoin tax in Naija at the moment and Bitcoin will give him more in that time frame of 9 years. I like as you take time talk about this thing and e sweet me say person like you throw light on this issue of diversification.

1BTC is equivalent to about #38,554,119, so I would have love to HODL this amount but my people the future of bitcoin is very uncertain as no body can predict what will happen to bitcoin in the future as our confidence in bitcoin gaining popularity is just an assumption. So for me, if I should have that amount of money with me what I will do is venture into building material business. Due to the high cost of building materials these days, if one ventures into selling of building material, before a short interval one will start recording successes in the business because people build houses from day to day so the demand of building materials is very high.

From your analogy, if I am to paraphrase what you are asking, you are asking what I will do with 27  million naira. That's a huge sum of money that can change my life big time.

If I'm able to accumulate up to one BTC bro! I am 100% sure that I won't be broke again. Even with the 27 million your conversion gave you, even though I know it's actually more than that, I can decide to hold the 7 million in BTC and the remaining 20 million is enough to start up a very lucrative business and still buy one or two cars for bolt and that way I will be damn comfortable.

But as I know go wan allow imagination to wond me yet, make I just de do my own small small till hopefully, we get there someday.

I reason your talk well, landed property na im be one of di surest investment wey person fit get. Because hardly make you hear say land or building depreciate, e go just de depreciate de go. Even as di economy be now, landlords dem just de cash in by increasing rent because of di high cost of living inside di country. I like di investment because you no need to de educated or to stress yourself for inside.

I always believe in diversification for business because i reason say e no good to put all your eggs in one basket, so if i get 1 btc, i go decide di percentage wey i go leave inside di investment, den i go take di rest invest for real estate. Di good thing be say i still fit to reinvest part of di profit from real estate, enter bitcoin again, begin de grow am back. As e be now na di two investments na im de sure pass for my side, no stress, just de monitor bitcoin wey you hold for your wallet, if e appreciate reach where you wan sell, you sell. Same thing if your land appreciate reach where you wan sell, you sell.

1 bitcoin will change my life and I will use it to buy things will last longer in my life. But that will not be the main thing to do if I got 1 bitcoin. The first thing to do is to invest in a business that will bring income every day. And still use like 2 millions to invest in bitcoin and buy land and start a building. That topic you are referring to, many naija people wey dey there dey tok say na house and I believed day that time bitcoin bin dey in di bearish market.

But if today pen want to use 1 bitcoin to buy only one thing in naija, e go 1 house.

I no know which exchange rate you use but if you use d one wey all of us know and dey use always, d current amount wey you put for dis post, bitcoin still worth pass am wella. If you wan sell 1 BTC for dat price, many buyers go full your DM in a minute time. So use the worth wey if you wan buy, na wetin dem go use for you too.

With d way our naira dey depreciate against dollar every day, if I get 1 BTC, na to invest am back for bitcoin because I know say d value of my investment go increase over time since I go fit convert back to dollar wey dey appreciate against our naira daily. No try go invest for anything wey go dey earn you return for naira o, your business no go last with dat kind investment for naija now. Better make you take d one you go use settle yourself for living and invest the rest for bitcoin again, so day your profit go get grow overtime and you no go come back come touch am again.

OP as far as I am concerned, your exchange rate is not correct. I will assume you used the old exchange rate to do your calculations and as much as I know, the price of 1btc is far much higher than you have stated here. Now I will digres a little bit into your quest for knowledge on what to do with 1 bitcoin. As a matter of fact mate, 1 Bitcoin is a bit money here in our country which we all know about.  Talking from the striving perspective of becoming relevant to the society and earning a living by making profit, I would  go into business although it is big enough to buy land and build a portable house for living but business is very much important because that would sustain you as an individual MD build more houses if you wish to but investment is paramount and of great importance.

Looking at the way our currency is getting devalued, one would have no option than to invest in Bitcoin because that alone could salvage our investment of it be the contrary. Investing in Bitcoin could be helpful and profitable in the long run because of the potential of Bitcoin price increase. Bitcoin investment could be the alternative to our local currency since it has been on a free fall state f ok r quite some time now.

1btc is enough to make one live a good life, not just even a good life but to generate more money from good businesses establishment. 1btc is good enough to start up any dream career, no matter how things are very expensive right now I don't think 1btc won't be amount of money that won't be of very good value. The money is big enough to go into real estate which is one of the big investment you can think of that is profitable. Buying car should be the last thing anyone should think of because burying won't bring money instead it is something that will consume more money. Going into agriculture is another business idea that will can bring more value to the money.

Dem dun use diversification brainwash una for the forum that when una here diversification una go immediately think say una dey do the right thing, that's why many people go investing in altcoins with the mindset of diversifying and they think they're doing the right thing. Investment in this country are all sinking so be careful what you're investing in make you no go sell gold go buy iron. You said if you have one Bitcoin, why will you sell want has the potential to increase more in dollars for another thing wey even though e increase for Naira, the devaluation of naira dun make you lose all the profits you supposed make. If you have Bitcoin continue holding it if all you're going to buy are labilities which is what most business in Nigeria has become of recent (Read the second part of my post below for better understanding).


Well said and make I just use some rough explanation give an example. If you convert your Bitcoin to Naira (do investment in Naira) make we say you covert at $35,000 and dollars dey $1=1000 naira (note this is a rough explanation so all figures no dey accurate). It mean say your invested #35 million naira. In 2025 Bitcoin reach $100k per Bitcoin e mean say by just holding you would have made 100million Naira that's if dollars no increase oh then imagine a situation wey dollar reach 2k naira per dollars that's 200 million. That Naira investment wey you get no fit give you 100 or 200 million in just 2 years. Unless you dey extra lucky and buy land for where e explode due to development. People wey Invest for shares 10 years ago are regretting because the devaluation of naira dey make dem no get profits. I no dey against diversifying but no go dey sell your Bitcoin for that kind thing, Bitcoin itself is an investment with more higher potential, you fit use your Naira dey diversify not selling Bitcoin.

If I have the opportunity to achieve 1BTC, and change it to our naira which is #39,780,000, I will make my dreams to come to reality by establishing wholesale provisions store in a good location with #10,000,000 that will be bringing me stable income I can use to invest in BTC whenever there is a bear season in the market and apply long hodling. This gas factory that is in my mind over some years, I will invest #20,000,000 to establish such company since many businesses men and women are now using generators that is using gas to carry out their activities without fuel because, the high cost of fuel price is high for business men to make profits from their daily activities.

 I will use the remaining money to build a standard house in my village because I like traveling to the village every december period to go and celebrate Christmas and new year with my native friends and family members where I use to have opportunity to real bush meat.

I have been dreaming of this, so if I own 1 BTC, I wouldn't even want to sell my BTC because you will have the overall benefit of owing a Bitcoin, So I do agree with your point @BrainBoss, as Nigeria and you own 1 BTC,  in fact, you can make more money or profit with 1BTC if you know what to do, take advantage of the market during when the price of Bitcoin falls and rises, as a trader I would buy the lows and sell the highs using spot trading.

Aside from that, I would look into engaging in other businesses as well, Like investing in real or going into the importation business.

If I get 1btc wetin I go take am do na to hodl am for my wallet first so that it will appreciate for this bull wey dey come then if I hodl am to double it, I go back out and convert am. Then immediately if I get land I go begin build on it at least a storey building or two. Then if I no get land, I go buy and begin build something on it. But if na to use the money go dey do business for this kind economy, that one no be better decision. Na to build and put for rent be the best now.

I will go straight to the point of your question OP. If I have 1btc today, I don't have anything much to do with it than to hodli. I wouldn't sell and invest into another business, since the country economy is a mess presently. Therefore, why will I want to start suffering myself running up and down on how to start a business and the rest. What if my business fails, that is why I will keep my bitcoin and when bitcoin reach my price target, I will diversify into gold and leave the rest in my wallet, because I know that during the bull run, the price might be up to 3x the current price. Naira is not worth keeping because it depreciates with time.

first of all op i go like make you follow our boss recommendation to link this thread to the original thread wey bring out this idea. you be newbie and e no go hard for make dem delete or ban your account for this forum, and if dem do so u go lost both the small merit wey you don try gather.

to the main discussion, the price of bitcoin converted to our currency naira, dey up to about 44 million plus+ as and that na very huge sum of money wey if person package well e fit use am create better investment for em life wey e nor go poor again. 44 million fit set up better super store, small transportation company etc

Exactly, you are apparently right, the naira currency is dying, as the naira is dying. It has no value anymore, and it is not a wise thing to do if anyone wants to get an asset that has to do with naira value.
Now that naira has no value, it will be a good thing for someone to buy enough Bitcoin and hold on for dear life. The current price of Bitcoin today is very much better than the naira rate, so if one can store some good amount of Bitcoin in Nigeria it will be of good help to the person than saving his/her funds in naira.

With the rate that the naira is massively falling against dollar, it is not wise enough to invest in anything that has to do with naira currently because is will loose in value over time since naira is fast increasing in the falling on parallel market, what is more profitable is for you to hold your asset no in bitcoin, because bitcoin will rise and it's currently on the pump market season, secondly it value will appreciate over time towards what it could be exchaged for in naira, so easy time you're just ready to use money in fiat should be when to exchange your bitcoin.

The idea is diversifying. Why would I leave all my capital and profit in one place when i can turn my profits into Capital in another place and ensure profit ? Personally, I'm a real estate enthusiast and in as much as I can get a whole lot of profit from Bitcoin I wouldn't want to let go of that dream just to sit at home waiting for speculations about Bitcoin price rising and falling.

And about the wrong Bitcoin price in Naira, my bad. There are too much wrong information on the internet and I fell into the hands of a few while writing this thread. So sorry for the wrong information but the current price is not 27M oo.... Thank you .

Our economy is in a downward spiral, and there are additional opportunities to start earning money online. Are you serious about owning 1 bitcoin? In the current situation of the Nigerian economy, one Bitcoin will undoubtedly go quite a distance. Remember that our objective should be to channel these profits into multiple streams so that we can continue to reap immensely from the system. To get started, I will purchase hectares of fertile land in an ideal location, in a developing or already established vicinity, add one or two suitable automobiles, a comfortable 4-5 bedroom flat, and then channel the remainder of the funds to businesses. I would contemplate starting a phone enterprise, which I feel will make significant earnings, but all businesses encounter difficulties, which is understandable. I would then save up, invest in transportation, and try to be successful.

I go advice you to reference the thread wey you copy this idea from make dem no go talk say you take someone write up without acknowledge the person and furthermore make we dey try dey original with wetin we dey bring here. All of us dey main board so anytime wey you dey see there we dey see am too and it doesn't make sense to have two ongoing discussion wey go come make us to dey repeat ourselves (post for main board still post here). Dollar been dun pass 1k Naira so that your figure no correct as if Bitcoin was $34,000 when you dey write this thread then the price for Naira supposed pass #34 million Naira. So correct am make e no mislead people abeg.


Why are you investing in Bitcoin? What's the essence of selling your Bitcoin to go run another investment if na profit wey you dey find and you fit get that one easily for Bitcoin. Bitcoin wey cost like this you go come use your 1 BTC wey you dun try get go sell am to go run another business wey no dey guarantee say e go dey successful or go buy liability say you wan flex your money. Abeg na to dey continue dey HODL they go and unless you enter tight situation na when I go advice you sell small take handle the problem and you continue to dey DCA dey invest inside Bitcoin as the money dey come from your other hustle. If na trading give you the one Bitcoin na to continue to dey trade dey go and if you been dey accumulate na to continue until you dun reach a quantity wey dey okay den you fit put attention for other business wey go support you to hold well in bear market season.

What to do with one BTC as a Nigerian,my dear this is a very good topic and a very good topic you have thrown on the floor..

As it stands now my country Nigerian and one had the opportunity to acquire just 1btc my brother my sister,you are a millionaire in Nigeria, and you have alot to do with it and still have change left,
With one BTC in Nigeria i can buy land and build house and packing in my New house my dear, this is honestly speaking you are don with just one BTC in Nigeria,you are able and capable of doing anything you like and want, you can open store, acquire a land property, I will start up building of my house till finishing, invest it again in different investment like, stock business like rice, rearing of fowl I will make sure I secured my future, and I can still try to buy more coins, I will spend it wisely because our country Nigerian is not a country you can mess up with your great opportunity..

So it is uncountable what one can use one BTC to do in Nigeria, because our economy have crashed and our naira depreciate and no longer have value,to the extent that if one is able to acquire one BTC in this Nigeria he or she can do alot with it and still live a boneyard life .. how i wish you are talking about the other countries like US ,UK and Kuwait,then I can say it will not be much to do with it,but it's also something meaningful too ok,but the greatest of it is Nigeria ..

Priorities differ from person to person, 1 BTC as at the time of my replying this thread now is over 42 million naira. They want houses, cars and all those things which are good for them cos we think differently.
Now let me dream with you cos I know I don't have, and have no means of  acquiring 1 BTC now, but it being in my possession, and bearing in mind that the next halving is possibly next year, I'll simply hodl it jealousy cos that my 1btc has the potential of turning into 3 ,4 or more btc during the bull run. I can now utilize like 2 BTC to better my life and still keep 2 for the next bull run.
What shall it profit me that I use the 1 BTC in purchasing material things and miss out on the bull run blessing??.

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.

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.

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...