Guide on how to invest in bitcoin and altcoins

[Onyeeze]

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.

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[Marvelockg]

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.

[Ruttoshi]

● Check the marketcap first before you invest for bitcoin

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.

● lnvest when you know is on the bearish season

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.

● Make a proper research before you invest bitcoin

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.

● Don't be greedy after you have make at least 5x to 10x for your investment

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

● Diversify your portfolio for altcoins investment

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.

[CryptopreneurBrainboss]

● Check the marketcap first before you invest for bitcoin
● Do not fail to observe or learn how to interpret movement of candlesticks before you invest
● Have a timing in every of your investment
● Don't be greedy after you have make at least 5x to 10x for your investment

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.

● Some of the altcoins lacks potential but fish out they ones wey no get potential out and invest on the one wey get potential
● Diversify your portfolio for altcoins investment

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.

[EluguHcman]

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.