Bitcoin Forum

I don come to conclusion say bitcoin na the best place to invest for either future or retirement porpose. If ona check ever since bitcoin come out since that 2009 till date. if person wey dey work for oil company or business person wey dey see money that time, dey buy this bitcoin small small maybe by now the person no go reason to accumulate again but rather just dey look him potfolio dey laugh. Just they wait for the appointed time to withdraw. And now wey our day just break like this, I think e never to late to also do the same thing.

For example person wey dey 50 years that 2010 buy am keep by now him don reach 63years that one don become him retirement money. If him keep am for bank for this 13years, inflation for don short him money well well.

So we too sopos reason this matter say if I dey buy this bitcoin they keep for like 13 to 15 years adding to my age now say person go also make am. bitcoin price of today at $37k fit reach $500k by then because as the halving dey always dey come naso the price they grow.

Just emagine the price of 1 bitcoin after 3 to 4 halving?

Halving go lost value as time dey go
The difference from previous block reward go small
Bitcoin na very good option nor mean say na d best
Person wey like stability and low risk go consider government bond
Person wey dey find volatility and big profit go consider Bitcoin
Nor b everybody wey fit dey see price dey fall dey stay calm
With old age heart attack fit kill ahn
Not to forget many go jux invest bcus na good opportunity not knowing how it works.
Anything can happen e fit b say wen u need ahn desperately
Na e con take do correction.
If we forget village people matter land too make sense to me.

I don't think bitcoin na best place to invest in your retirement. If any civil servant want to invest in bitcoin, and the best time is when you're still the active service, invest some percentage of your salary to invest in bitcoin so that when you have retired then you will not start from the crash again and at that time you might gotten some value in the investment so you are to reap. But when you retire, you no longer working again so no salary at the end of the month so you are to eat what is in your hand. If we no calculate this bitcoin investment very well before entering we go face the real risky of it. Any miscalculation will see the opposite of the investment. When you dey tell people to invest, tell them when dem dey active service. Let dem buy every month. And when dem retired dem go rest and only monitor the portfolio.

If you check wetting you talk I no sure say e aligh with wetting I dey talk. I give instance say person wey buy am long time ago now him no go think of to accumulate again probably naim retirement be this now. So I come also dey advise the youth say make dem invest now so that before w go reach there retirement age Dem Don get enough for there potfolio. By that time that money don become there retirement money to take care for themselves.  We they almost talk thesame thing but na your first line naim make am be like say we no dey align.

Bitcoin for be a very good option for retirement savings as you talk, no doubt, but the government policy of compulsory pension contribution no go allow am happen because you go only fit access your retirement benefit after 60 years old when you don retire or 25% of the money when you no get work after four months.

Nigerian Pension Act do not allow workers access their money or choose where the money go dey when them still dey work. This na big error for the part of the policy makers because inflation dey kill the money. Wetin this mean be say the purchasing power of 10 million naira now will not be the same 40 years from now when person go don retire.

Assuming say they fit allow person access the funds or chose where to put the money, Bitcoin would have been the best option.

I catch your point. But not that kind of retirement i mean this one na personal retirement I dey talk. No be like government own i mean personal bitcoin accumulation in form of retirement savings.

Op na the coco wey you talk so, person wey do according to the way you talk no go dey think too much after em retirement make em for no go die quick. If at all say the person practice DCA for like 10% of em salary every month, let me say dem dey pay am N500,000 every month then em 10% go be just 50,000 so em still get 450,000 to take flex with em family till month end again. If the person invest that 50,000 for 7 years before em retirement, e mean say that person go get more than 1BTC if we use CBN rate while na just $370 naim commot from 1BTC if we use black market rates, the total amount of money wey em go put for the investment for 7 years na N42,000,000 and we never talk about the main part which is the profit for that 7 years wey fit add extra 50% join the invested amount.

Op wetting you carry come here na very nice business strategy. Naim make people dey always talk about DCA strategy every time. this strategy go Allow you dey keep small small amount of money from your salary or any souce of your income dey buy Bitcoin dey keep. Sothat by the time you don dey old e no go affect you. Since government no go fit allow citizens to choose where to put there pention money just like @odohu said. I sudjest make them no wait for government to inpliment the law, them fit impliment am by themselves by gradually putting the money bit by bit just like @makus also explain maybe before you go retire you go be like who do money ritual.

Bitcoin good as investment wey you go DCA and after each halving bull you cut your own share comot and go queue again. If we take bitcoin as retirement benefit omo na risk we don take like that, risk wey pass the investment itself because if we don follow bitcoin we go see say after every bull come correction and sometimes the correction dey take plenty time before the price go reach the major support wey im dey fall go meet. In such case, wetin papa wey don invest as him retirement go do.

E just better if you invest after halving bull run then you cut your own and take am do wetin you want carry your profit do. Me I no go even advise person to hodl btc pass halving bull run for every circle. Sell and wait for another refill.

If we dey look for retirement benefit, omo the wey never fail na to invest in properties, buy land and build. Nothing else pass that one for naija level. Even company self sometimes if you no manage am well e go crash or your children wack the company dry  ;D

Gozie51, no be lie wey you talk oo, after bull run comes correction and this correction na one of the reason wey dey expose baby investors wey go sell everything then after some time dem go come still buy same quantity with higher amount of money, wattin I recommend for this part if you dey in need of money na to just sell your profit then leave the remaining one for there, with time na up e dey go. But wattin I no like for wattin you talk na when you say "bitcoin as retirement benefit... Na risk wey pass investment itself" how??? Wattin be the difference between you investing for 7 years then use the money take feed after retirement and to invest for 7 years still use the money take feed or buy some things? Bitcoin no be like other altcoins or shitcoin oo, naim be the original, and with history em don prove say no matter how long the bear market take em main direction na up e dey go, so how you take see am as big risk. And besides we no dey talk about short term investment for here na long holding wey fit give person better profit if em no dey touch em investment anyhow.

Bro, if you look at this part wey you yarn you go see my reason. That no matter how long, na that one be the koko, person wey don old and body don dey shake fit dey wait for btc to increase wey sickness don come on top bear season?

After bitcoin touch 20k for around that 2017, e drop back to 3,500 or so for 2019 before another halving meet am and we know the story of how e reach 64k. So my point be say if you invest for retirement, then no be guarantee say when you go need the money say price go dey up. In other words, to take profit for every halving circle better pass than to leave in the name of retirement.

Omo me I no fit use bitcoin get hope for retirement oo, as I talk before, na to buy properties and build dey collect rent, lease, event centers sure pass.

Op, this plan wey you talk like this for good but e no dey easy for a family man wey dey work to dey remove part of in salary dey invest am for Bitcoin for Naija unless say you never marry and you don dey into Bitcoin before you get work. If you don marry you go dey think about how you go take care of your family, and you go see say investing part of your salary in Bitcoin will be like a waste of time because Bitcoin no be wey thing go just give money quickly like that. And if you only invest in Bitcoin when your salary is your only source of income when family matters hit you, you fit to sell your Bitcoin at a loss and use of the money to settle family wahala. The best way is to start a business first with your monthly salary so that you can have multiple sources of income to run your family and from the business you fit dey invest for Bitcoin small small for your children self.

Bitcoin na good retirement plan because e don prove himself over the years, and we don see of how the price dey increase dey go while our naira dey continuously fall and no really get value. Na good thing if person go fit dey save towards him retirement in bitcoin rather than naira. So e dey feasible but they person really need to dey discipline, no be say if him get small challenge, him go wan use the Bitcoin retirement funds. Also the person gats look for an offline wallet because e get zero risk of being attacked and the person go just dey do DCA until e reach him target year.

OP your points are clear, e good as u even talk and still take am to your self as we still dey our prime where the hustling they body cos time go reach when we go retire and we go need where to place our back con balance we'll dey look how we done spend our working and huzling era dey check wetin and wetin we achieve, those things wey be say even if we no go out do work go still dey bring profits and na Bitcoin go be the koko of them all
E go make sense say person use strategies dey accumulate Bitcoin at specific interval, whether na from our salaries or business profit where be say e no go touch us during retirement.


I don read am well OP no say we go use money for retirement take buy Bitcoin, him mean say during the whole process of working we fit dey buy Bitcoin with part of salary, bit by bit, percentage by percentage whether na monthly or weekly so before that time of retirement we no go dey think of buying Bitcoin as na wetin most persons fail to do.

Na true you talk my bro, he better make person still dey civil servant before he invests in Bitcoin because that is the best time for him to invest without being too concerned about the volatile because if you have a source of income and you invest in bitcoin you will not be rash to sell your coin when the price is low because it is your profit money you will just leave it for a long term and get huge profit, Because people who sell their coin in loss are those who took out loans from banks or other financial institutions to invest in bitcoin for profit, and if the price drops, they have no choice but to sell it and pay the debt, it is important to have a source of income before beginning your investment journey in bitcoin or other business you believe you can benefit from.

Is better you invest in bitcoin before you retire from civil savant so that you will get your target after retirement because if you invest a small amount of money everytime you receive your salary for 35 years before you retired i think you will get a huge amount of profit because am very sure bitcoin will continue to increase gradually so don't waste your time invest now before it is too late.

OP, weting you talk nah weting person suppose give second thought. Cos imagine as i they by this age i start to save or invest inside Bitcoin then imagine when i con retire the amint of Bitcoin i go get and how much e go be in fiat by that time. Since Bitcoin not get anything to do with government and their wahala i prefer am sef. I know many civil servants wey they never even pay pention for almost 10 years after their retirement. And no hope say they go pay them, everyday na so they dey look newspaper to hear information. Now weting con be the difference if people they think say foor Bitcoin person fit loss. My brother investment nah risk o and anything retirement for naija me ah no they even reason am. My own nah say if God bless person make person no fear to invest in Bitcoin or keep some retirement money inside Bitcoin.

You're correct, but OP is rather coming from a different perspective, his advise is that people whom are younger and are salary earners should start saving up personally for their retirement days, like setting out a percentage of their income to purchase bitcoin and not touch it until their retirement. Many halving must've occurred and the bull runs would've appreciated their investments so much as compared to leaving it in banks which you and I know that liquidity affects fiat so much, thereby leading to devaluation instead of appreciation like in the case of bitcoin. Having much money even before government pays their gratuity is a good bonus. The only thing wey sweet pass money na more money and their investments in bitcoin promises that on a long term.

Well, OP, I think it depends on your preference. In the world where I come from, people do things according to how it will not hurt (chock) them in the end. Bitcoin is not a bad investment at all, and while someone is still working and receiving their salary, they can possibly be accumulating some Bitcoin fraction little by little while they are also investing in other projects that can actually profit them too when they are old. For instance, some people prefer to start a company like an open hotel, invest in pharmaceutical companies, or invest in housing and property, and it will not be bad at all that the person invests in Bitcoin too. It is not usually wise to cast all your hope in the bowels because it can mistakenly come true and your plans might no longer fall into place.

wetin you tok nah coret tok but the thing be say make we tell oirsef the truth with the way bitcoin price binndey that 2009 and never sef dey pronounced as e be today , if na you that time you no go gree the invest your retirement there weda na oil company u dey owrk or not cos that year Dem the potential bin no clear.
Now as things don be, still I no go advise make person carry all the money him wan the save for retirement com the put for bitcoin, make we dey apply management risk for this tech, if the person retirement savings for the money nah like 20% I go say mk him use 10% the invest for bitcoin the remaining 10% for another normal  life Investment/business wey get profit too. Cos this bitcoin we dey see like dis, no be say I no trust am oh, but anything fit happen sonmk mam no put all him eggs for single basket. Life too short for irreparable mistakes.

Dis no be bad ideas and anybody wey know about bitcoin and him good effect, I mean those wey be bitcoin enthusiasts, dem go want make dem savings really dey come in bitcoin. The government policy and how dey give out pension money dey very different from what you explained for your topic. Na for dis naija you go get access to pension when you never retire? I doubt so oo and na so e be for everywhere. Even if he only has access to the money after retirement when his pensions will began to be paid, he would need the money more for upkeep rather than for investment because of the nature of how things will be by then.

The only money that can only be invested at that point is the gratuity, which is also given to civil servants after retiring, it is a large money wey you fit lump sum and stock plenty bitcoin but for dat money to enter hand again after retirement na anoda wahala for d country. So everything just dey complicated if retirees really want their retirement money savings in bitcoin. If dem don dey save for long in bitcoin before retirement using maybe DCA method, their profits for don increase by dat time wey dem finish to retire from work.

Bitcoin seems to be a very fine option. However, at retirement age, people would be looking to invest in something that has a lot of value, assets. But to be honest, a person investing in Bitcoin at retirement age is not advisable. The first thing is that, even when advising young people, people usually emphasize on the fact that your income as a person earning from one job or not earning at all shouldn't be invested in Bitcoin. Now, imagine a man who isn't earning at all, at that old age to invest in Bitcoin and lose his money.

Although, if it's possible to have people with knowledge about Bitcoin around him it would be easy. But my point is there are many other assets that are less risky for people in retirement age.

Op, I love this topic because na good retirement strategy na him you just bring come on board so. I believe say bitcoin say e go last long and the value go high in future based on past records and how bitcoin matter don dey serious as a profitable investment because of her volatile nature. Na the best thing to dey use 10% of your salary to dey buy bitcoin every month dey pile am as your retirement benefit because no matter how bitcoin price go fall reach in 10yrs to 20yrs time, bitcoin price go high pass when you just start to dey accumulate.

History don show say in every circle, the bottom line of bitcoin at the dip is always higher than the previous circle and also the new ATH dey high pass the previous ATH. This na very good reason why if you invest in bitcoin using NCA method frequently for 10yrs, your profit fit be 4x or more of your investment portfolio. Since SEC for some countries don approve ETF bitcoin and soon US SEC fo approve their own, e don show say bitcoin go last for the world but the price na e we no get guarantee say e go continue to dey pump, but I know say the possibility for am to dey pump dey higher than dumping.

One thing wey me I see as the disadvantage of selling bitcoin after the bull run na the compounding profit wey your investment go generate, but if you sell at every circle you no go fit get that compound profit  because as long as you dey save am for retirement, you go dey buy always no matter the price of bitcoin because you just dey save for old age. Another thing wey I come reason be say, if you watch out bitcoin investment you go see na she dey capable to give high profit than any other asset over a long period of time. No go surprise say bitcoin fit be your game changer in future

Yes na true say the true you talk about the government policies about pension contribution. But I want you to understand that as a worker before your salary gets to your account every month end, the government deduct your pension contribution before making your monthly payment. Now You as a worker that have now understand the potential of bitcoin and you have understand the potential in bitcoin you have to make some extra sacrifices to secure your financial life after retirement. Lets assume your Gross salary is 150k and your Net salary is 140K. That means your pension contribution is 10K. And you now being fully aware that inflation and will reduce your purchasing power after your retirement. You can decide to make extra sacrifice by investing 5k monthly on bitcoin and call it your retirement plan savings on bitcoin. Just imagine how much bitcoin you might have accumulated after your 35 years of active service in the work. Remember if you don't secure your future no one can do it for you. And now you have gotten a knowledge that your co workers don't have, so by making this 5k extra investment in bitcoin has given you an edge over your colleagues when your finally retire. Remember It is also one of the reason why bitcoin was created to counter some of the government policies that does not benefit the masses.

Talking about where to save money, especially for retirement, Bitcoin na good place but e get relativity based on say if you go retire for time wey bear market dey wey everywhere dey deep, e go wori because d value bod your money for no come out the way you been dey expect am to come out but if you com retire for bull market everywhere don stew for you be dat lol, so d tin good pass when e b say na money wey you never wan use for a very long time, maybe like say for two or more years so dat when you go wan collect your money back e go meet with bull market.

But e still better pass bank sometimes because the interest wey bank dey give dey small, except d moni big well den sometimes d gain wey go enter ontop fit make sense small, but if na for Bitcoin especially when e b for bull market the capital fit double sef.

I don't think the best time to invest in bitcoin is during the retirement time,  at this time the money that will available won't be coming steady. I think the best time to invest in bitcoin is when one already have a steady flow of income. It doesn't make any sense for one who have retired to invest all the money he or she have in bitcoin . During this time their are things which will always demand for money and it is not possible to stick to bitcoin when their is no other way in which money comes in. Retirement money is the money for up keep which they will need to solve problems  from time to time.

I like everi thing wey you talk. Ans I agree with you.
For this Naija I nor think say any of us go fit try am o...with the way the contri dey wey be say the level of trust don low and to try am go just be pure folly.

E better to invest your retirement money for real estate than for bitcoin. If you get mind well well you fit just put 0.5% to 1% of your funds for bitcoin and wait for whatever the outcome will be.

    Bitcoin's growth over the years makes it a perfect stop to rest all your finance with a very high certainty of bigger yield in coming months. Although cryptocurrencies brings so much profitable returns,  Bitcoin investment isn't a bad decision after all. Your wealth will be grown hourly, daily and your interests would be generated.
   All you've got to do is learn the basics well so you'd have background knowledge on the trade market and if you can't trade, get someone who's trust worthy enough and let him manage your trades for you, but It best you learn and trade by your self because no knowledge is loss and in no time you'd see the wonders that Bitcoin has in store. Of all digital assets currently, I'll still opt for Bitcoin because to me it's the safest and even more prone to bigger growth in a very short time. Although at the moment it's really expensive but always look at the brighter side in investment.

Even if bitcoin investment go bring benefit no be everybody go like am for this country and I never see, even for the estate investment, estate investment requires huge amount of money to start and some areas no dey favour estate investment. Bitcoin for better pass the real estate, cause any amount you get you use invest not like estate investment that requires a particular amount to start, no be everybody retirement money dey big but the little that person fit use am invest for bitcoin.

Na the Koko be dat na, investing in Bitcoin no be only for current gains or future profits but also for retirement as our country retirement plans self no too go well. If you dey buy Bitcoin from today until you retire, e no get how your portfolio no go dey in profits in years to come no matter how the market be. Saving in Bitcoin na sure update as you no go only make profits but you dey sure say your wealth no go reduce due to inflation. No be only oil workers wey get the benefits oh based on the kind money wey dem dey make but the common man too fit use the opportunity wey Bitcoin dun provide to use secure him future after retirement.

Bitcoin na the best place to run your retirement plans not only because of the potential price gain wey e go fit give but also because of the feature of been in control of your finances too. With Bitcoin na you dey in control so e sure for you say anything wey you dun save and Invest, you go get access to am anytime no be all this banks wey go get procedures after procedures to stress you for your own money too wey you keep for their hand and come delay you.

Just say as you dey use Bitcoin so, you need understand say if you behave anyhow and exposed your sensitive information, all your investment dun go be dat as hackers and scammers plenty wey dey look for their next victim. You need put security as your top most concern and secure your investment very well make you no go dey become another pity story of funds been stolen.

Op I agree with you and weti you talk na true. Bitcoin investment na the best investment for people wey dey work for government work and it is good let dem do am when dem still dey di work so dat before dem come retire sef their investment e do n ripe for dem to start their life after active service years. For me if the person really understand bitcoin make him start di investment from the early days of his or her work so that before the person spend like 20 years in service then the money na bulk. im go use well before him go retire sef.

Op I disagree with you a little bit on this if na for future purpose make you get a specified period  because bitcoin way you dey talk so na just 14 years old and this life as you see am so e dey very hard to predict the future who knows maybe Bitcoin fit lose him relevance this na globalization period and different technology and digital currency fit be treat to Bitcoin, just imagine say you invest your live savings into it hoping say in 10 years time you go collect your profit but the thing no come work out as plan for example e fit crash or the value reduce e no go make sense to you at by that time so I still believe say Bitcoin never fully arrive to that point way e  be place of retirement investment, I personally prefer real estate as the best place for retirement investment thank you.

Wetin you talk no bad OP and with the way everything dey go now, e dey very obvious say na bitcoin na him go give you the best long term profit wey you go get after investing into am. After every halving, we dey always see the way the price of bitcoin dey increase and e don happen for like three times after three halving don take place. We suppose know say inflation na very bad something and if e affect your money wey you save, you go regret keeping d money from onset as fiat. Bitcoin na him be d best to keep your money if you wan invest for retirement, by d time you invest in it, before your retirement the money suppose don grow again and not reduce d way if you invest in fiat go dey.

Yeah, this is good advice. I think it will be better for the civil servants if they can introduce themselves to Bitcoin so that they will be able to remove some parts of their salary and invest it in it. We know that not all the people will believe in it, but how say out of 100% people's 50% will accept it? Because of how this our country is moving currently, it is not good for a civil servant to depend on a government job without having another source of income. Even that after retirement, they're given gratitude. If the person doesn't have plans before retirement, even if they give this gratitude, it will know last no matter how the amount of the money it is at the end of day it will finish.

If at least they try to buy Bitcoin kept on till they retire, I think it will be the best favorite for them as things don't go well for our country after retirement from government work.

Me I fully support wattin the op talk oo, because if at all say person na just 10 years e get before retirement  and e come start to dey save money for bitcoin before that person go retire e go done experience 2 halving, and that one alone na better profit the person go get after e use better DCA take accumulate for month by month. By the time wey the person go done finish em work don we go get better profit wey e fit use take do something for e life. But if that person say na for our naira e wan dey keep that same amount for DCA every month for em bank, that person go come back after the 10 year come observe how the fiat currency don drop value finish.

The knowledge wey we get now about Bitcoin na one wey person no fit even carry money learn and one thing wey make me like this forum well well and another thing again make we no forget say this matter of saving your money Bitcoin no be easy something oo because we all know the way money be and also the way Bitcoin saving dey and also the risk of where the person save him investment on. To start investment for Bitcoin never finish oo, na to follow up the investment and also security measures because so many people don lose their Bitcoin investment wey don dey for long because of so many nonsense issues like wallet security and also lack of determination and will power too but all the same sha na only person wey get the sense go know say saving your money for Bitcoin e better pass to save am for your normal fait currency.

I understand your point, bit bad as e bad you nk hk fit compear am with the the Time wey you invest am. Because according to predictions say as bitcoin circle dey pass, naso e dey set new ATH. meaning say the previous ATH wey you buy bitcoin don add value for the new One. So no matter how bearish the retirement age or time of withdrawal go be I think you will dey at advantage. For example you buy bitcoin when e need dip to $15k maybe like 10 bitcoin that is $150k and in the nest 10 years, bitcoin Price come reach like $500k each that is a total of $5million for I vestment of $150k so no matter how bearish the market go be, e no go fit affect you.

Yes oo I grab wattin you dey talk, the Bitcoin no really easy like to put money for our normally fiat bank. If you say you wan use Bitcoin as your saving box for retirement money, that means you go have to dey very careful with your seed phrase. Because anything wey make am comot for you hand, otilor e don go be that, all your saving vammm so indeed e dey very risky. But that na one of the basic things wey person supposed to learn before e enter into Bitcoin holding. Above everything for Bitcoin the most important of them all na to safe guide your seed phrase, na why Dem recommend say make we no put am for our phone, but rather make we write am for paper store am more than one secure location for back up purpose.

While bitcoin is a possible option to investing your wealth, peoples choice of investments differs and depending on what is common to you, your choice of investment could be buying of land, building an estate, training your children and of course, buying and holding bitcoin.

You don't expect someone like my father who is approving the age of retirement to have invested his wealth into bitcoin, who wouldn't find that reasonable in the first place because at the time he was growing up, he wasn't used to technology and I doubt he knew about the blockchain technology while he was in his active service. What he saw people doing at the time as a means of preparation for retirement Is building houses that would be given out for rantage and then every year, e gets his rent that could sustain him till he becomes old. That'ss what he his used to and telling him to invest in crypto wouldn't make much sense to him.

Even as I am current investing and acuminating bitcoin, I don't use all my saved fund for this purpose because I understand the volatile nature of btc and the risk associated with it so I just invest the amount I am led to invest while I invest into other areas that could also bring me possible good returns.