The 4W every newbie should know, so as to navigate your way easily

[Barikui1]

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

The 4W of Bitcoin is;
*What
*Why
*When
*Where

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.

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[Hatchy]

the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

Bro, Bitcoin isn't the only coin worth considering for investment. It's been the most profitable for holders over the years, but there are other cryptocurrencies out there. The best advice is to research thoroughly before investing in altcoins coins. Stick to well known and reputable options, as many new coins are just pump and dump schemes that won't likely yield long-term profits, leaving you with worthless coins.

As for when, investing now is likely best. The longer you wait, the more potential profits you miss out on. Dollar cost averaging (DCA) is a recommended method, but there are other strategies like buying the dip. Due to the price of Bitcoin currently, you can't afford to wait for a dip which likely won't be coming soon so it's advised to invest using the DCA method.

Lastly, storing your coins in secure wallets is important to avoid losing funds. Non custodial wallets give users full control over their private keys and funds, ensuring greater security.
Also you should avoid using centralized systems to store your funds. Remember NOT YOUR KEYS NOT YOUR COINS

[Barikui1]

the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

Bro, Bitcoin isn't the only coin worth considering for investment. It's been the most profitable for holders over the years, but there are other cryptocurrencies out there. The best advice is to research thoroughly before investing in altcoins coins. Stick to well known and reputable options, as many new coins are just pump and dump schemes that won't likely yield long-term profits, leaving you with worthless coin.

Bro you are partially right, I said so because and experience person can buy an alt, hold and let go of it at a profit in  a very short period of time because he  knows that it's mostly a pump and dump scheme,  but when a newbie is in possession of alt coin, he would probably don't know when he or she should  let go of it which might result in significant losses,and after that experience he will now generalize it that cryptocurrency of a thing is a scam.

[I_Anime]

Is nice directing newbie to investing in bitcoin because is one of the investment you can easily minimise the risk compare to others coins but still according to @hatchy they are also good altcoins at their you can also invest In and yield good profit. But to invest in such coins you know that you are someone that take researching as an habits. That means before investing in other altcoins (all coins except bitcoin are altcoins) you have to always make proper research so that you won't fall a victim of pumb and dump coins (because most altcoins are pump and dump project expecially most New coins) when we talking if pump and dump coins these are coins that most time experience a great surge due to over hype or over brought. But after that would experience a greater dip so if you invest in source your funds would  dip with it.
 

why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

this is truly viral when it's comes to investing, having emergency funds would help you in long-term investment practices because ones you have emergency funds that thought of you withdrawing your investment in a very premature state won't be there because you would have the funds to cover up most expenses. So before investing ensure you have an emergency funds or a source that would outside this crypto space that would produce that emergency funds because it won't fall from heaven. You work forit
 

when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

DCA strategies or method is one of the best means to accumulate more coins, because with this method yah buying from any time intervals. Either the dip or when it's experience a certain rise. This would reduce any chance of you missing out. So more you accumulate more it would be profitable when the greens market begins

[teamsherry]

One reason I'll agree with you on the fact that you said only bitcoin Is.

1. Bitcoin bears little investment risk for beginners who want to hold.

2. If they are here for decentralization, they would better enjoy it via bitcoin.

3. Other alternative coins might be quite complicated and have different workings that bitcoin

4.More knowledge of bitcoin at their disposal than other sltcoin here.

When I thought of this four reasons I saw wisdom in what you said.

[Humblevirus]

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

I agree with you that Bitcoin is the best coin that newbies should invest in because it is the only coin with less risk and is long-term profitable. Because of newbies lack of proper knowledge, they can't do their own proper research on different scam projects. I will give full advice to go for Bitcoin at first if they fully invest with their basic knowledge.

* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

To make sure you don't face troubles with your Bitcoin investment, it's crucial to have a steady income, like money you regularly get. Investing without a reliable income might make someone sell their Bitcoin when they face problems. They could even sell it for less than they paid because problems can happen unexpectedly. It's like not knowing when something bad might happen. To be extra safe, having money saved up for emergencies is a great idea. This emergency savings can help fix problems and make your Bitcoin investment go smoothly. It's like having a backup plan for when things don't go as expected.

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

I can't fully agree with you that no better time to buy Bitcoin, bear market period is the best time for accumulation, but it's important to recognize that timing the market correctly is difficult. For us, the idea of Dollar-Cost Averaging (DCA) makes this procedure easier. DCA advises us to continuously invest a set amount over time rather than attempting to forecast market swings. This lessens the effect of market fluctuations, which makes it a useful and efficient way to gradually acquire Bitcoin. Therefore, you may more easily handle market volatility and gradually increase your Bitcoin holdings by implementing DCA.

*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.

When you start investing, it's crucial to remember something important that many beginners overlook. You see, when you put your money on exchanges, they actually have control over it. Imagine it like giving your toys to a friend to keep they can do whatever they want with them. Surprisingly, even run away! Just like what happened with FTX exchange, where people who trusted them lost their belongings. To avoid future heartaches, it's wise to keep your money in a special wallet called a non-custodial one.

[Brainiac01]

You drop better thing. You fit also drop link if possible to know more about all this things.

[Silver005]

Bro you have done so much well in directing us on how to become a Bitcoin investor or hold, I must commend you for your efforts,we the newbies here love this kind of threads because this will help us to grow and ranks like you people,and I hope to see more of this kind of threads in every angle of the Bitcoin talk, this is a way of helping ourselves to survive in life, whenever you know anything that is beneficial to humans and you introduce your fellow human beings it's very very good and it reward is always great,in the sense that you will keep on progressing because you are a very kind person..

[Lida93]

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

The 4W of Bitcoin is;
*What
*Why
*When
*Where

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.

I agree with you that the bitcoin is one only reliable coin to invest in come rain come shine with all the market intricacies you will be rest assured that with each fall in price there will be a lifting up with time and that's why I tell many people newbie particularly to always make their investment plan in bitcoin a long term plan of about 2-4 years upwards because those that usually get disappointed are those investors that jump in with a very short time plan in mind to take profit which obviously that's not how bitcoin works unlike those rug pull fast pump and dump altcoins out there in the crypto market.

Having a reliable and steady income flow no matter how little the amount is very important to the success of a long term plan of any bitcoin investor. Which is why nobody should joke with whatever means they are using to get income either monthly or weekly as the case may be. I have seen a post in this forum with the poster inquiring if he/she should quit his job because he/she has started investing in bitcoin and had made some profits. That's wrong a thing to do. Like how do you keep increasing your portfolio if you don't have another source of income and how do you manage your responsibility in a long bear market period when you're not making profits. So it's important to have a means of income even as we invest in bitcoin.

Definitely there is no better time to buy bitcoin than now, and even as we invest we should endeavor to invest wisely and with a strategy. And what's most challenging in the ownership of bitcoin is the storage aspect, if you store your bitcoin in the wrong places you can end up losing it all either to scam or collapse in the case of CEX, that's why it's appropriate we store our coins in reputable non-custodial wallets. One of many wallet I usually recommend to newbies is the electrum wallet due to how simplified it is to use as per newbie friendly features that are easy to grasp.

What is Electrum?
https://bitcointalk.org/index.php?topic=3456040.msg36797361#post_point1 by
TUTORIAL: How to use Electrum (for beginners)
https://bitcointalk.org/index.php?topic=3456040.msg35977696#msg35977696

[7juju]

Thank you for sharing, as a newbie this is very helpful to me and I will take them serious. Though I have little knowledge about bitcoin prio to me creating account in this forum. But as they said knowledge never ends and no knowledge is a waste.

[letteredhub]

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

The 4W of Bitcoin is;
*What
*Why
*When
*Where

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.

With the rate wey bitcoin done reach now newbie investors go dey fear to buy sake of say them no go fit make bih profit  but the truth be say you go still make profit and the security of your money sure if you want hodl for plenty years like the next circle wey go come after this one pass. Any thing outside bitcoin as a newbie I no fit advise say make your buy cos the risk e major.

The way Op take analyze the why and when na just the simple truth be that. You no go fit be good long range hodler if you no get reliable source of income  and if you the wait for your own better timing to buy bitcoin you fit end up not buying sef cos the market volatility no be your village people the control am, na market forces.

For any noncustodial wallet you chose to use  make sure say you hide your pass phrase where only you get access into and you fit use metal steel to crest each phrase in their order to protect am from damage wh3n we use paper or any type of means write the keys down.

[Pi-network314159]

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

The 4W of Bitcoin is;
*What
*Why
*When
*Where

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

Exactly bitcoin is the best coin to buy. After so much anticipation about different coins I discovered that Bitcoin is the best.

* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

That's true, holding does not work without having something doing. Most of the investors who invested in bitcoin who didn't have another source of income end up touching there fund and most was as a result of not having an emergency fund.

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

Not only DCA , lump sum or DIP and HODL

*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.

Definately custodial wallet is the best except otherwise.

[OjAbram]

Well it's really nice knowing someone is Watching and guiding us (Newbies) in every step and showing us ways to make profit and not get scammed. I really appreciate the lookout here in this forum and the advice from our senior men Here it's helping and I would say keep up the good work it's much appreciated.


One LOVE to us All.

[Tmoonz]

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

The 4W of Bitcoin is;
*What
*Why
*When
*Where

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

In as much as Bitcoin has proven to be the best option when it comes to long term investments there are still other coins in the space of which the choice depends on what you want.

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

The 4W of Bitcoin is;
*What
*Why
*When
*Where

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

There are likely cases where the lump sum buy will out perform the dca, there has been a lot of arguments as regards to which strategy is the best however every investor whether new or old must make an informed decisions as regards to the choice of strategies to employee in his or her accumulation process in terms of
Financial situation, risk tolerance level, investment goals and objectives , he or she has the right to choose the strategy that suits him or her.

[rachael9385]

My country people good morning inside this morning, I know say most of us already know this tins but newbie dy sign up for this our naija local board on a daily basis, so I just have to update them how dem fit do things in the crypto industry without troubles.

Make u no lie you really try my dear, make I tell you truth, e get plenty pipo wey no sabi this things way you just talk nau nau and you go well to carry am come this we board. When I been see the 4w for your topic I been dey somehow confused and make I no lie, nah the 4w when I see nai make me to open this thread and I really like the thread sha.

* what : In the crypto space, what do you buy? What do you invest in? The only coin to buy and invest in is Bitcoin.

Normally this nah important message wey you pass give pipo so, e still get some pipo wey no even know were them won put their capitals self, yes bitcoin nah the very nice place wey somebody go fit put em money and still get rest of mind.

* Why: why you should have a source of income, it's very important that you have a source of income, so that when issue like feeding and rent is at your neck you would not go and temper with your Bitcoin holdings.

Yes exactly, we know say for this world so, anything wey person dey do make em make sure say em get back up, and make em back up no be say em put hope for person. Make em get job wey em dey do. Source of income go make person invest for Bitcoin, when person no get job wey em dey do there's no where money to invest on Bitcoin will come from.

* When: when to buy; there is no better time of buying Bitcoin than now, see, we are still in it early days, and the best way to buy is through the DCA method, where you buy it bit by bit, monthly, weekly or daily.

Yes absolutely correct, now nah the best time when person wey get the intention to invest for Bitcoin since to invest for Bitcoin, Bitcoin just dey go down ones in a while so that pipo go try buy even if say nah small but many no gree and let's wait for the main result.
The results fit be say them go regret after say them no invest for Bitcoin and Bitcoin done make pipo rich, although nah only pipo wey done buy Bitcoin from the very beginning nai go just dey fucking rich because at that time Bitcoin was very low (earlier 2014).

*where:where should it be kept? It's best that we keep it in a self custodian wallet, where the safety of your coin will be in your hands, and the secret phase stored offline.

I just like this post because of the 4 w make I no lie, this ideas when you carry come nah better ones and although some of us know all this things already but as e be say e dey feet very important for the newbies (crypto beginners) so we gets to talk about am almost every time.
To invest no be the issue, the main issue nah to hold am with a save wallets. Some pipo go think say the exchange nai be the best place for keep Bitcoin why na lie.

[Makus]

Op no be small thing you do for here oo, you don try. This questions na frequently asked questions, and any site or forum wey you enter e dey very necessary say them make provision for frequently asked questions so that, when new people come inside, e no go hard dem to see say no be only them don get that kind thoughts for mind. And psychologically, that dey help, and e fit give you the answer wey you need to take enter the next level of your learning of holding journey.

For this crypto space we get many type of coins and their categories, but for all newbies the recommended coin naim be Bitcoin. When you hold Bitcoin then pass through everything wey you need to pass through as a holder, then that go give you insight of how other coins be. Though for altcoins you need to do serious research unlike Bitcoin wey everybody don know am as the most reputable and trusted coin for the world. For inside the altcoin network wey get so many scam projects, so one of the way wey fit help you differentiate good from bad na to do research. Though some coins be like wolf in sheep clothing oo, no matter how you research reach you no go fit know say that na shitcoin until the time reach. And that na why newbie supposed start with Bitcoin make them use that holding time take study about altcoins.