An old friend who introduced me to bitcoin investment and forums.

[Hamza2424]

I know this is nothing to some of you who has been here for decades or years as the case may be, but I just want this process to be productive and rewarding because I have planned to hold bitcoin for at least 4 or 5 years based on the information I had about halving, I don’t know how true this could be but I believe that my present here would never be regretted joining this forum and I believe to meet same like mind of people who will be that willing to open up to me to give me what I need to proceed my bitcoin investment journey.

Thank you for everyone who has made this forum a very interactive place and learnable centre. Please could someone who is that open to share things with me directs me well?

I will not say buy now and hold it will be like a financial advice and in forums like these no one should give you a financial advice and you should not follow any but follow privately yep, means you can't blame anyone for the choices you make and if you follow or liked someone's ideas but that person is talking in first person then you can't do anything haha.

Well don't know how much your currency is in dollars but let's say it is $1k and that amount can buy good satoshi amount.

Your plan is to buy for 5 years holding which is great because you can see at least one halving and bull cycle but you can't make enough with this amount, really it would be good to know the local currency name or at least the value in $ anyways, bro you must invest more if you want to hold bitcoin for long term because waiting all these years for a small reward is really very disappointing believe me, I am not saying you have buy all at once.

You can learn about dca and can follow it to invest in bitcoin. It will be easy for you if a bear run comes. Be aware it is not a financial advice.

[laspol65]

If you have enough money, then of course you can convert it to Bitcoin, Bitcoin is the only right place to invest for the future. If you can be financially successful in the future, then you should definitely establish a relationship with Bitcoin investment.
Because choose a strong wallet at the beginning, and choose Bitcoin to eliminate financial shortages in the future. Because if you deposit Bitcoin, which is the touch point of this modernity today, you will definitely be more successful later.

[Mpamaegbu]

~snipped~

I wouldn’t listen to any messages secretly except it being posted openly here where everyone would see what others are saying, I am also making more findings to see I how I can find exchange that are so friendly to us to fund my account.

Reading through the OP, I sniffed that you're a Nigerian as suggestive as your use of lingua construction is. So, I can offer you this suggestion from that perspective. 500k should be around $340 as it's right now. I don't know how hefty your financial strength is but I think it's a huge fund to play with anyway.

As for the bolded, Bitget is the next best thing after Binance for Nigerians and the exchange allows Nigerians transact on P2P. If you're new to P2P go for it. Don't start with Bybit as it will be difficult for you to sieve through the mass of scammers there.

[Umulala-alala]

Welcome here mate your did well to have introduce you to the forum, this is one place you can learn more about bitcoin investment and how you can maintain buying bitcoin and hodl for years.

If you can active and consistent in the forum and keep reading post you will learn fast besides investing in bitcoin is very difficult to understand.

If you have the right wallet you can start buying bitcoin with little as you can and it should be your discretionary income use the dca strategy when buying bitcoin consistently you can buy it every week or monthly when you have your discretionary and hodl for 4-10.

[Mabebe]

Sorry to post this here as this is my first post and my aim of creating this post is to focused on bitcoin investment.. I have 500,000 in our local currency but I would want to take that bold step to start it with my bitcoin journey, my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

Of course this topic is worth discussing but it would have make alot of sense if you had  posted it in the right board which is (beginners and help board.) but I know for a fact that you're still new in this space so you're not conversant with some certain things here but that's by the way.

Talking about having 500,000 of your local fiat and have chosen to invest into bitcoin, first I will quickly advise you not to put all of this funds into bitcoin. Reason been that you're yet to have an emergency fund and reserve funds which this above mentioned funds is very essential in your accumulation journey, but if you also have your emergency fund and back up funds or reserve funds available or you have a good cash flow then you're free to use that fund to stack as much as you like and HODL for Long term investment. Of better still you can maintain the ongoing buying of bitcoin that's if you still have the capacity.

Are you talking from your ends or from my ends about emergency funds and reserve funds?
Anyone who could uses such amounts to invest in bitcoin should be able to have reserve funds or emergency funds or discretionary funds in their custody. However, you need to know that there are people who comes here are aware of the risk of investment and has other funds in reserve but just want to gamble with little they feels they can but not using all their funds for investment. While speaking you could speak for yourself about emergency funds and or maybe if you have discretionary fund it would also help you much better than it is or before investing.

[Pi-network314159]

Welcome to the forum. First of all, don't entertain advice or offers from newbies or accounts with negative trust (a red trust number on their profile). There are tons of scammers looking to take advantage of newbies. Don't trust anybody blindly... do your own research.

So a lot of your success in purchasing Bitcoin will be dependent on where you live. Most exchanges will ask you for an ID these days so be prepared for that. One of the most popular and newbie-friendly crypto exchanges is Binance. They accept several different currencies and are relatively easy to use. I would research them and see if they are compatible for your needs.

Feel free to ask other questions here if you have them. I wouldn't respond to private messages from people as they are most likely scammers.

I'm sure other people will chime in with helpful (or semi-helpful) advice as well.



(dear readers: I'm not shilling Binance on purpose, but it is what it is)   

Thank you sir/ma
Thank you for pointing out to binance exchange and currently they do not offer services within our locality and our trading pairs has been removed so most people do not like using it to fund except for trading alone.
For about trust you mentioned I have seen some profile around that are being painted light orange or do I say red, I have been wondering about them but I am happy you pointed it out here as well couples with that of personal messages you just mentioned as well. I wouldn’t listen to any messages secretly except it being posted openly here where everyone would see what others are saying, I am also making more findings to see I how I can find exchange that are so friendly to us to fund my account.

Actually I have listened to the topic of discussion and the reply of nutildah about buying Bitcoin from exchange popularly known as binance, but it seems like binance p2p has been delisted in your area, I also sudgest that you go for bitget or bybit, because those two are actively working in some areas that fiat p2p doesn't work. But if those two doesn't work again then ask people around your locality about exchanges where you can buy Bitcoin from exchange perhaps you will see someone who will show you, after which you will verify your account and fill the necessary information and upload your KYC documents then from hence you can be able to buy BTC with your local fiat and you can as well download a non custodial wallet like electrum wallet or meta mask where you can be sending your coin to from exchange.

[Sanitough]

Welcome to the forum mate. Good thing you ask your concern in the forum so that you will be enlightened with different perspectives and encouragements. And for me, what your friend did simply creates a direction for you. You don’t want to rely on him on everything about bitcoin, so you need to learn on your own by posting your own concern in the forum. And by simply investing even just a small amount, you are already starting to establish your relationship with bitcoin.

Don’t start risking with a huge amount when you’re still beginning to invest. Invest with caution first and slowly learn the process to invest. And as long as you never rush into buying and selling your coins, you’ll be always safe here.

[Gozie51]

My advise simply is not to do anything about your investment plan in secret since you are barely new and don't trust any body to be saint or helper as I'm sure you might have been getting PM of other newbies soliciting to help you, don't fall for that. Always share your challenges openly here and you will get an honest help or support if users here see that you are not just trolling or trying to be funny with yourself. So be sincere to seek the knowledge you want. By the way, bitcoin is a good investment asset. If all you have in your local currency is 500,000 then don't invest all, you need to have some by the side to sustain yourself because you also need patient for your investment to yield profit.

[Out of mind]

Sorry to post this here as this is my first post and my aim of creating this post is to focused on bitcoin investment.. I have 500,000 in our local currency but I would want to take that bold step to start it with my bitcoin journey, my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

Okay, you have taken a good step, if you have enough money, then you can invest it. Since you have a lot of money in your local currency, then you can definitely invest in Bitcoin. But you have to first get an idea about the investment and you have to have enough knowledge and experience, otherwise you can face losses by investing. Moreover, you have to plan how long your investment can be, if you do it for a short time, then you can face losses. So you have to have a plan to invest for a long time, which will help you gain high currency. If you can invest in Bitcoin and hold it for a long time, then you will definitely be successful, in that case you have to be patient enough. And while investing, you do not invest with full money, but you invest according to the percentage so that if the market is unstable, you can buy it again.

[Chinesebaby]

Talking about having 500,000 of your local fiat and have chosen to invest into bitcoin, first I will quickly advise you not to put all of this funds into bitcoin. Reason been that you're yet to have an emergency fund and reserve funds

Are you talking from your ends or from my ends about emergency funds and reserve funds?

I guess Judith87403 was only just trying to tell you Mr poster that having an emergency fund is very necessary in your Bitcoin investment. Because you literally didn't say you have extra emergency funds when you mentioned the 500,000 in your local fiat. Because literally we thought maybe the 500,000 was the full capital you had in your possession, and was looking for alternative on best advice on how to go about investing in Bitcoin. Because I personally would have also advice you invest half and keep half for emergency funds. Because 5yrs is actually a long period, just as you claimed that's the timeframe which you intend to hold.