Bitcoin Forum

Wetin I wan tell our people for naija is that make we dey try to educate our people well for bitcoin and anytime you are bringing your brothers and cousins and siblings for bitcoin investment try to guide your people first, many people is calling bitcoin names because they did not obtain a well processed information before they entered into bitcoin investment. The following are the steps we need to adhere before we invest with bitcoin.

● Check the marketcap first before you invest for bitcoin
● lnvest when you know is on the bearish season
● Do not invest because other people dey invest
● Invest what you can afford to lose
● Have a target when you invest, weda you are investing for short-term or long-term
● Do not be discouraged by anyone when you want to invest
● Make a proper research before you invest bitcoin
● Do not fail to observe or learn how to interpret movement of candlesticks before you invest
● Don't panic when market is against you
● Store your bitcoin on non custodian wallet
● Don't Store your bitcoin on exchange wallet
● Have a timing in every of your investment
● Don't be greedy after you have make at least 5x to 10x for your investment


FOR ALTCOINS INVESTMENT, YOU NEED TO OBSERVE VERY WELL BEFORE  ENTER ALTCOINS  INVESTMENT,  YOU SEY ALTCOINS SOME OF THEM DEY DIE OFF AFTER DEY DON LAUNCH THEM...MAKE THIS WEY TO INVEST IN ALTCOINS

● Never rush to invest in altcoins before you invest
● Make sure you make a good research wey make sense for any of d altcoins you wan invest
● Some of the altcoins lacks potential but fish out they ones wey no get potential out and invest on the one wey get potential
● Know say altcoins investment is very risky than bitcoin investment
● Diversify your portfolio for altcoins investment

If you have anything you wan add for the wey we go dey follow to invest for our cryptocurrency bitcoin and altcoins please add up.

I don't know if I'm getting it the wrong way but if my ascertain isn't wrong, you seems to be mistaking these three concepts, that's investing into Bitcoin, investing into altcoins and trading Bitcoin.

If we're talking about guides on how to invest into Bitcoin then we should probably be looking at determining the kind of storage to use, making the right plan on how to go about making our buys, iether buying with the DCA methord or buying in bulk and then supplement it with regular DCA merhord, setting out emergency funds, and allocating a portion of our earnings that's in line with our financial strength but not necessarily an amount we can afford to loose. when you advice people to invest with an amount they can afford to loose, it tend to make it look like they are gambling with there money or that you're talking about investing into altcoins or meme coin.

Factors like looking at the market cap, investing during the bearish seasons, interpretation of movement or getting panicked about price movement doesn't suggest you're investing into Bitcoin but seams as though you're talking about trading Bitcoin for quick gains and to some extent, they might not even apply much to Bitcoin but mostly altcoins. While I understand that everyone has his or her involvement strategy, if you're considering all of these factors you might end up making things too complex for you and might tilt towards thinking in a very short termed manner.

I think in addition to some of the key point you've rightly listed here, I will add that if you're investing into Bitcoin, do more of long term investment rather than short term, if you're considering investing into altcoins as a way of supplementing your bitcoin investments, it shouldn't be above 10% of the total allocation that will go into your groose investment.

NO need to check the marketcap of bitcoin since it has the highest marketcap of cryptocurrency, and bitcoin is king while altcoins are duplicate of bitcoin. This your statement is used for altcoins not for bitcoin.

It is not a good idea to invest only in the bear season, because how long will you keep waiting for the bear market to come when we know that four years make a circle in bitcoin movement. It is better to invest whenever you have the money to buy, just buy more either in the bear or bull. It is only if you are a trader or short term hodler that buying at the bear alone is good. But if you are a long term holder, and you just started your bitcoin accumulation journey, it is good you figure out an amount that you can use to buy bitcoin regularly weekly or monthly. Beginners should not think of trading. Also a long term hodler that have reach or close to his bitcoin target, can buy only at the bear market.

This is for altcoins and not bitcoin. It has been proven that bitcoin is an asset that will survive in future, and this is why we are having the lunching of bitcoin ETF in countries.

Also an altcoin guidelines, and trading guidelines not to run at loss. Sound like gambling to me.

There is no need to diversify into an i9of the same line, since you are into bitcoin, if you must diversify because you want your funds in various assets and not only bitcoin, it is good you diversify into assets like gold, real estate, stock or cash equivalent. So that when one is not doing well, the other can cover for it.

Nice thread but some things wey I observe na say e get some points wey you repeat and some wey for fit enter one sentence and no need of breaking it into two different sentences but overall, it's a very nice thread and I go like talk on the points wey I quote so.

Investing in Bitcoin no be altcoins wey you need to check the marketcap to find the coins to know which has the potential of giving you a decent return. Investing in Bitcoin dey vey straight forward and you just need to get the basic Idea of how to handle Bitcoin and you're good to go. You do not need timing for Bitcoin basically because Bitcoin investing is better with hodling. No go dey say you wan time the market or you go miss out, buy Bitcoin and hodl na the only thing wey you need to dey do. Selling of Bitcoin shouldn't be limited to when you have made those number of X's, you suppose know when you go sell before you even enter Bitcoin and no dey wait for this particular X's because even though the so called experts dem say e go happen, e fit no happen and you fit miss when you for sell in profits.


Abeg no vex but I wan ask, how you go know which altcoins wey get potential and then the one wey no get and even though you know, you no dey see wetin dey happy for market like this wey be say coins wey no supposed see front (dem shitcoins and memecoins etc) na dem dey give profits pass this days. Investing in altcoins na gambling you dey do and when you dey gamble everybody luck different so just work with the one wey dey work with you or stick to investing in Bitcoin because you can't go wrong choosing Bitcoin over altcoins. The profits fit no many but you no dey at the risk of losing everything wey you get.

Very necessary to educate anyone coming to invest in the Bitcoin market because it doesn't yield good outcome of indulging in an investment section that you do not have knowledge about.

While Bitcoin does not require an interpersonal skill at its events, lot inexperienced Investors and those who are not well oriented before coming into the investment platform think it is just all about having you money in there and also sells at their pleases without having the thought to understand how the market works based on the potentials of the Bitcoin.

That alone have mislead a lot investors with their emotional sentiments with the feelings that Bitcoin is not a get rich quick as they thought it could be and also lack of their knowledges leads to most of such investors to lost of funds due to carelessness of how they handles their seed phrases and how they are easily convinced to divert their Bitcoin investment to Alt coins that are not reputable just because they are desperate and would definitely fall the hyping Alt Coins where they learns their lessions in the hard ways after investing and the project goes dump.

Education is indeed a key to success.

Many of us for here done know sae bitcoin be the baba when it comes to crypto invest, many of us no d worry much about the points wey you raise about bitcoin investment cos bad as em bad reach, we don know sae bitcoin is not going anywhere, it has come to stay. Wetin peso need na, not to buy out of FOMO, be patient, have a price target, not to store their bitcoin on exchange, keep their seed phrase at a safe place and not to force or convince peso sae bitcoin go give them financial freedom without telling them sae bitcoin investment na for long term. If them no get spare money to invest, make them no near bitcoin investment cos the risk wey the involved.

Even with this guide, me no dey invest shishi for altcoins because wetin my eyes see, my mouth no fit talk. Bitcoin dey ok for me, e dey give profit even though e no big like the lambo coins, I dey manage am dey go because I no fit shout. I don try this altcoin thing and e dey always end up in pain . If I show you my wallet, you go follow me cry for the kind coins wey I get wey no worth anything again. If to say I use the money I waste for those coins them buy bitcoin, I know where I for dey now dey fagi. Anybody wey dey do altcoins must make sure him don decide say him fit lose the money, this na the only way to get peace of mind when you invest in altcoins.

Op with the little knowledge I have acquired from reading about Bitcoin I disagree that investment should be made when it's on a bearish Season alone. Th n what about the Use of DCA strategy which implies that you are to make small chromatical installation of investment due to your ability. I doubt that Waiting for the bear season is the right thing to do when you have your funds at hand for investment.



Investing what you can afford to lose? Really? Then what about those great Bitcoin enthusiasts who have thousands of Bitcoin worth over billions of Naira, do you insist that they should sell off their Bitcoin because of the risk associated? I think this statement should be directed to altcoins only, and it would have been much better if you segmented Bitcoin guide from altcoins because, they both have different price movements and reputation.


It's essential that one know what he/she is getting emself/herself into before comitting their effort and finance to it. Well for Bitcoin you don't need much of knowledge before you can start investment, all you need is to know the basics of how wallet and transaction operates. But for altcoins you'll need to make extensive research which might not even be able to give a 100% prove that the coin would be a profitable coin.

Wow, e just be like say you dey my mind to copy Wattin I get for head to write. Grace333 if you observe closely you go see say the op really segment the Bitcoin category from altcoins category, but the only issue Na be say most of the things wey dey the Bitcoin side supposed to dey for the altcoins segment because, if Bitcoin fit give you 5x or 10x what is the need of withdrawing when you can actually have more if you exercise more patient? Bitcoin no be like altcoins wey get trust issue and better coin wey you see today fit turn out to be scam project wey dey one corner dey wait for the right amount of market cap  before e crash. Na why we need to dey very careful when we dey deal with altcoins investment.

Op you don try well well to list all these point come outside, this thread go really help our newbies well well to know how to go about investment journey.

We no even suppose they invest inside this new Altcoins with full body, if not dem go flash our eyes. I don also see shege for this Altcoin market and the worst be say I use money wey I suffer to find still invest aggressively, till now I still dey on loss and no hope to recover because the project done die. I see this as beginners mistakes, as I don dey get acquainted with the forum e get things I no fit do again. I don base solely on Bitcoin, no stress and no loss involved.

Almost all the things you mentioned is correct and they are suppose to be put into consideration or dealt with before going for any investment. You said something about altcoin without potential and ones with potential, if I may ask how will one know the alt that has great potential because if this you said is possible or true I don't think people will be making loss.

However,  this diversifying of portfolio, like I said in my previous post I don't think is something we should do everytime because sometimes it bring about regret and sometimes it bring joy. Making research about a particular alt is good before investing but investing after researching is just like prediction you are not sure because anything can happen and NOTE thorough research doesn't guarantee that one must make profit rather it will help you not to be inside loss.

Yeah, the OP is right but the first step I'll advise anyone to take before going into any Cryptocurrency be it Bitcoin or Altcoin is to do a proper research before making investment, then from there check the market cap of the Cryptocurrency before other steps he mentioned. Cryptocurrency is not something one should rush into without having a proper knowledge, sometimes it doesn't end in knowledge but understanding it better before thinking of going into the market. A lot of people who failed rushed into the market based on trends they've been hearing on the media some don't even know about exchanges, how to use them or use their P2P for buying and selling but then would be curious about buying Bitcoin cause maybe they heard about bullrun and how people make profit from it. Asides Cryptocurrency, before anyone should carry out investment in anything you must make proper enquiries about it, understand it better but most people fail to understand that.

Is like you don't know what diversification is all about when we say diversify your coin, it means neither bitcoin and some of the altcoins, we have different cryptocurrency because we have altcoins that will be valuable from till when bitcoin will fall, but we don't know, some of us invest in altcoins that have no value so when looking at it, you have to know that altcoins is something that have to do quality depending on the motivate that's them to launch it, so right now it most not be that whenever you hear diversification then you think is an extension to real estate management kind of investment or crude oil and gold kind of investment

Very good thread that serve as guide to our beginners in Bitcoin, if they carefully make use of these steps, they will have a successful Bitcoin journey.

I am mainly interested in the altcoin sections of investment because many people that join crypto investment in our community are interested in altcoin investments, they are here mostly to make quick money that’s why they are always looking for updates of altcoins that will give them quick money: that’s is why these mentioned observations are very vital and will help us all.

These altcoins both old ones, I no dey trust them because I get the same believe say many of them nah scam and ponzi scheme coins, if you never buy am them go dey increase for your eyes so that e go attract you to click the buy button, then after buying there nai you go home realize say those coins nah rubish. Mostly these new coins those ones nai worst pass. The best coin for a crypto investor to put em money mai be Bitcoin, no other coins except Bitcoin, the rest of those coins nah shitcoins.

I think say na only me done see this kind thing. I don fall for this trap more than once... e get one coin I been dey monitor for coinmarketcap, na so the coin dey rise dey go until I finally decide to put small money inside.  From the time I buy the coin till now, the coin dey fall dey go and the funny part be say, almost all exchanges don delist am. The thing do me like film, as if them dey wait make I buy first before the coin go die. Because of that experience, omo I no do again for those altcoins.

Lol, crypto currency is not for the weak minds, if we tell some persons how all this thing's dey happen to us dem go think say Na lie yet we go again, when time reach to buy another one. Some times e dey very discouraging while most time e dey go e joy to see say coin wey you buy don start to Waka the go sky. But no forget say in business there is ups and down, one important thing about some of this coins Na be say, them be actually shitcoins in making wey just dey wait for the right amount of buyers to enter before e start to dey dump for no reason. Even while other coins dey pump, dem go dey dump. And make we dey care especially for this price correction period wey price dey fluctuate anyhow.

There's no need to invest in altcoins, given their unreliability and high risk. In my opinion, there's no point diversifying my investment in altcoins. it's better to stick with Bitcoin, which has proven to be reliable. I wouldn't advise anyone to consider altcoins a better option for diversifying cryptocurrency investments, due to the risk and uncertainty involved.

I think if one is ready to take the risks and not minding what would be at the end of investing then one can go ahead.  But if one is aiming to hit profit investing in altcoins, I don't think it will be a good idea investing altcoins because it is too unpredictable.  No difference between altcoins and playing gambling.

No b every project de promising and most of them just de there to embezzled our hard earned money. Crypto no be for the weak, I don announce am tire. If you get mind to invest, do am and no look back and if your mind no touch, judt melow and leave the market because when person record losses and you no de financial balance, e go worry you and also your portfolio go shake. Everybody get lesson to learn from the market. This horrible experience go forever de for your mind and next time, you go learn how to cope and become caution with the market.

Altcoins are not long term investment because it is hard to know a good altcoins and most of the altcoins were created to scam people of their hard earned money, and this is why it is not good to diversify into altcoins because you might end up investing on the wrong coin. Bitcoin volatile nature makes it more risky and why will you diversify into altcoins that are more risky than Bitcoin and their price is being controlled by bitcoin.

If bitcoin price dips, all your investment will depreciate making it not a wise decision to diversify into the same line of investment. The best way to diversify is just as stated by Ruttoshi above, because that you have the assurance that all your investment cannot turn red at once.

You are absolutely right, I really like this decision wey you take like this for were altcoin dey because even me self I know dey like to hear anything about altcoin because just as you talk wetin altcoin do you na so in do one of my friend you need to see the amount of money wey this my friend go lavish for altcoin, although this my friend dey regret till now say if to say na Bitcoin wey invest the money na say in for don make am by now. However just like me I no go fit put my money for any altcoin because dey are not worthy to be trust but if you put your money in Bitcoin assurance go cover you because Bitcoin investment dey very legit.

We passed out patriotic love for our country and citizens of the country, and secondly no forget say we rise by lifting others in our country and also applies to cryptocurrency. We go de manage de go because if we aim for big things, we go surely enter problems. Make we just hope say e go better for all of us because this life wey we come, e no easy for man to survive. Make we fall back to the concerning trend on ground, bitcoin and altcoins, which one wey you de for sef? For me, I de always stick to the projects wey I go see mad cash out but no be big eye, na self ambition and we go de to far for the space because everybody get e own destination and goal to accomplish.

Bitcoin nobody know if the thing will stay up to thirty years or not, so wetin I dey try talk be say, bitcoin investment ba wetin people they conclude before dey invest on am, because if you no no too well of Bitcoin you go carry all your money go invest for bitcoin, I believe say bitcoin investment e make sense if you understand am, make I tell you now, e get people we go rule this nation and they go abolish bitcoin, but no be wetin we dey pray for, wetin we want na make bitcoin price dey increase every day.

That’s the issue of altcoins you don’t know which one with potential , some will have at first then later kill one way or the other leading to investors losing money , so for me to take such chances I rather focus on building my bitcoin more , because I believe with time my bitcoin accumulation will surely grow over time , because bitcoin is all about long term.

And while planning to accumulate more Bitcoin, you can probably use the dollar cost averaging method in investing in Bitcoin. Because the truth of the fact is that Bitcoin will always rise and fall, and if only you could take good advantage whenever it's price drops drastically just how the price fell few days ago to approximately $75k per BTC,  and buy, you will always stand the chance to gain more profit than a person who just only buy once without regularly reinvesting whenever it's price value depreciates. Because although altcoins are very volatile and could generate quick gain or loses. For me, I will always suggest you people prioritize Bitcoin over all.

All the points you mentioned are reasonable. But we also know that there are some investment methods. Among them, by investing in the DCA method, we can free ourselves from some worries. For example, if we want to start investing in the DCA method, we do not need much idea about the market before investing. The negative impact of the market cannot affect us. Investors can continue to invest no matter what the market is like.

But in other investment methods, the things you mentioned need to be given special importance.

Try start with one first after you finish the other you fit start the second one. I go advice you to settle down with bitcoin you no really need to invest for any shitcoins for now because those coins Sabi drain person portfolio. You know say that one dem dey manipulate am well. But hard to see say dem manipulate bitcoin. Bitcoin na the only digital currency without manipulation. After you get enough bitcoin for account you go try invest small for altcoin but they careful.

Na true you dey talk every Cryptocurrency enthusiast first priority supposed be Bitcoin, especially new ones wey just dey come into the market, their first priority suppose be to gather enough Bitcoin overtime for their Portfolio then when they done gather plenty they fit choose to put body for other coins that one na their choice no be financial advise from me na their personal decision, other coins na mostly pump and dumps and their owners they easily manipulate am so instead of to risk money for something wey person go end up come dey regret eh better make dem choose better coin wey be Bitcoin invest inside, the only requirement eh go need na just to dey patient then use better wallet hold  am for years

Na true you talk like this oo Bitcoin fit crash any day or any time but one thing wey no go fit make am crash na because of say some country don dey use Bitcoin now as legal tender so e no go fit crash like that but they fit utter Bitcoin worth or value and na because of this reason e good make people dey try to invest with waiting them fit afford to let go in case anything happen but nothing go happen sha, any body wey go carry all en money or half of en money go invest in Bitcoin na financial mistake be that oo because Bitcoin no be get rich quick something oo rather na long term investment.

You're right because as far as crypto currency is concerned investing in Bitcoin is the best option because investing in memecoins that you are not sure of getting back your return on investment is not something that should not be encouraged memecoins has consistently shown that they can't be trusted because the level of Volatility in memecoins is what you can't predict, memecoins are highly unstable and unpredictable because most of them are just trying to launch into the market so investing in memecoins should not be encouraged.

You have created a great thread about investing, but you have made some mistakes in some places. For example, you said to choose bear markets for investment and invest during bear markets. Actually, if you are a long-term investor, you should not wait for bear markets and there is no instruction that you have to buy in bear markets. You can invest at any time.

I disagree with you on this. Since you are not trading, there is no need to analyze the candles. You are an investor, an investor needs the market demand for the asset, the stability of the asset, the security and the trustworthiness of the asset. There is no need for an investor to test Bitcoin separately. Whether the candle is red or green, you keep buying and hold until the target is reached.

I would discourage a new investor from investing in altcoins. Because choosing an altcoin is the most difficult task for him and he is more likely to choose the wrong coin from this aspect. I would say that if an investor wants to get involved in crypto investment, it is better for him to first get acquainted with Bitcoin investment and it would be better to limit 3/4 of the portfolio to Bitcoin. In the remaining 1/4, you can enter Altcoin investment to diversify your investment. However, choose the coins carefully and study or research the coins well before choosing the coins.

If abolishment of Bitcoin is what you are worried of, mate worry no more because that is not gonna happen any day, there is no how they would hate Bitcoin more than it is now, there is no reason of any kind they will tell us that Bitcoin has done  bad that will give them the right to abolish it, or will it be a crime to them that some people are benefiting from it?, let us not be surprised that some of them has already invested 10 to 20 percent of there wealth into Bitcoin, however more than third years to come Bitcoin will not go anywhere because they will still be running smoothly, only those with little capital fear about the future while those with big doesn't think about it because of confident.

Do you think that bitcoin needs to be checking coinmarketcap before one needs to make investment?
I think it's adequate for people to always know the right time to make investment such knowing when is the bear market and when is also the bull market before making investment. There are people who just jumped into market without knowing the right frame of time to make investment and like some does, when they senses that market is beginning to make progress that is when they would move to make investment with the mindset that they would make profit immediately they made their investment without knowing the market could go on the reversed way.

I'm not talking of abolishing of Bitcoin, but e get wetin fit happen and Bitcoin can be abolished, so we need to understand that, wetin here dey really talk is about how we go dey invest on Bitcoin and make profit, because not every one know that if you invest on Bitcoin today you fit no make a profit and if you invest when the price dey low or when the market dey promising, you can make a profit such thing, so na wetin I dey try talk be that ooh

I understand but we are just saying the same thing because the abolishing is just what we are all taking about, actually I don't no how you are presuming it but whichever way it can't be abolished, they have not abolish some altcoins  which have been portraying scamming way of pumping and dumping of the coin, is Bitcoin that have been showing the cryptocurrency world that there are good and trusted investment asset here that abolish?, however if is also about taking profits every individual is entitled to collect there reward whenever they like while others who feels something can still be attached will wait till the day they would take it.