Bitcoin seems to be the safe heaven in this period of Naira value increase

[Wiwo]

I hope this topic title interpret and pass the message of this thread as simple as possible.

It is no longer news to most of us who have being following up with Nigeria forex crisis and how the naira have gained value in recent time there by making USDT holders to be at grave loss most especially those that have huge amount of USDT as trading pair, and for now there is no hope in sight as it is clear that naira will continue to gain against the dollar in the coming days, for that reasons,  investors like me and you need to figure out ways to keep our assets at stable profits and avoiding losses even though it is not 100% possible to achieve lose free investment as long as there is profits merging also.

Reason why BTC remains the smartest asset to hold as a Nigerian

1: Bitcoin have alot going on for it and we are sure that those events will definitely push the market to gain against the dollar on the long run, and if bitcoin gain against the dollar and we hold our assets in bitcoin it then means that we get more USDT which translate into more naira at the point of exchange,  so even if the naira gain a fraction against the USDT but due to our more USDT accumulation from bitcoin holding we will still be at gains.

2: Another point is that, bitcoin will recover faster against USDT since bitcoin is a volatile assets an decentralised compared to the possibility of USDT gaining against Naira since both are centralized and stable to some extent.

Anyone with clear understanding is free to contribute to this speculations and analysis,  and if it can  e backed with data's it will be much appreciated also.

[SmartGold01]

Your points of explanation is solid and correct i love what you shared here but, have you also considered holding Naira currently?
Like you and I knows that Naira remains the leading currency now over bitcoin and usdt for that past 2 to 3 months now despite bitcoin gain the highest price this year at some point dollar began to decreased over time. This shows that holding only NGN can save you a lot as well if not for the way our banks behaves.

There was a day I wanted to buy bitcoin it should be around weeks passed now with a money given to me as gift, I thought as rushing to buy bitcoin buh something in me asked me to slow a bit and, coupled with the way dollar is falling. Today now I still have that same amount in my bank account but guess what? Bitcoin has fallen from $71k to 60k and again dollar fallen from 1,280 to 1119, at this point if you are not experience investors you could be forced to sell of your holdings.

[Wiwo]

Edited out

Well at the moment,  naira seems to be the most suitable currency to hold, then then also it can't be compared to holding bitcoin since if we should go into deeper analysis,  we should already discovered that bitcoin won't continue to fall and ad a matter of long term stability, bitcoin will pay more than holding naira if you bought those bitcoin any where below $70k.

Those are the things we should consider before holding an asset,  it is a wrong thing to give short term speculation to volatile asset like bitcoin,  but the Nigerian naira, are USDT are all stable to some level due to their centralized nature.

[Samlucky O]

Well at the moment,  naira seems to be the most suitable currency to hold, then then also it can't be compared to holding bitcoin since if we should go into deeper analysis,  we should already discovered that bitcoin won't continue to fall and ad a matter of long term stability,

Yea you are actually correct about bitcoin. For sure it wount continue to fall because it is a volatile assets and in oderwards Naira is also an indirect volatile asset that functions under the influence of inflation and deflation so that makes it volitille and should not be underated. In any case fia has a big role to play. Let say when $1 was = #1600 my $40 was #64k but now $1 = 146 as at today price is #45840. This is to tell you that fiat is volatile and can be used to accumulate more btc. For example if you have enough reserved fund you may decide to use some and invest in bitcoin and leave the rest in your bank and allow the fiat to strengthen against dollar the more. sothat when it starts gaining against dollar them you buy, by then you would have baught alot of USDT with cheaper rate and invest it on bitcoin.

bitcoin will pay more than holding naira if you bought those bitcoin any where below $70k.

Definitely yes. Just like they said don't put all your eggs in one basket, bitcoin may be volatile asset but there are strategy we must apply to accumulate more not just putting all our hope on bitcoin volatility, why there are many more options to help the accumulation process of bitcoin.
The strategy is just like a trading strategy to gain profit and invest in bitcoin and nothing more.

but the Nigerian naira, are USDT are all stable to some level due to their centralized nature.

They may be stable but for me I see different in them. Naira is volatile why USDT is stable. Because Dolla remain constant and yet naira strengthen against it. That's why some days you can use #800 to buy $1 sometimes #900 #100 or even #1900 to buy $1 so naira is somehow or an indirect volatile just that it is not an asset.

[Hewlet]

It is no longer news to most of us who have being following up with Nigeria forex crisis and how the naira have gained value in recent time there by making USDT holders to be at grave loss most especially those that have huge amount of USDT as trading pair, and for now there is no hope in sight as it is clear that naira will continue to gain against the dollar in the coming days, for that reasons,  investors like me and you need to figure out ways to keep our assets at stable profits and avoiding losses even though it is not 100% possible to achieve lose free investment as long as there is profits merging also.

well, I think you're on point and another advantage we have at the moment is that due to the appreciation of the naira to the dollar, it means we are in the best position of converting our naira to dollar at a cheaper rate compared to what was obtainable when dollar was at the range of N1500.  To crown it up Bitcoin has also DIP and with a less amount we should be in the best position to buy Bitcoin with a less amount of fiat if we have the resource to doing so.

This is just a perfect opportunity to buy and Bitcoin cause for those of us that have to convert our fiat to dollar before buying and considering the fact that both Bitcoin and dollar are all going bearish in our context, it's the best time to buy. But again, regardless of the value of our naira now, one shouldn't buy above what will allow one to comfortably hold for a long time without facing issues that will tend to put you in a situation to wanting to sell your holding to offset your bills. You've got to be smart enough to stick to your investment plan s you don't buy above your set out amount and end up inconveniencing yourself.

[SmartGold01]

Edited out

Well at the moment,  naira seems to be the most suitable currency to hold, then then also it can't be compared to holding bitcoin since if we should go into deeper analysis,  we should already discovered that bitcoin won't continue to fall and ad a matter of long term stability, bitcoin will pay more than holding naira if you bought those bitcoin any where below $70k.

Those are the things we should consider before holding an asset,  it is a wrong thing to give short term speculation to volatile asset like bitcoin,  but the Nigerian naira, are USDT are all stable to some level due to their centralized nature.

Yeah..
What I think is this; After halving which I know the market gonna dip more and after mid of this year one can buy and hold bitcoin, although it all depends on individual choices to hold whatever currency they wishes. If entering the market at a higher price will affect their investment, then they need to fall back to historical data to see how the market behaves before and after halving with this process one can know the best time to hold bitcoin if that person can't endure seeing their assets depreciate so severely, and then what next?

They should explore the DCA methods which would enable them accumulates gradually without being much affected by the fall of dollars and bitcoin as the case maybe. I knew that all the sudden pump in bitcoin price is for a reason of ETF approval so, after all the hype and noise bitcoin has to go back it's original prices, and believe me or not bitcon can only go above it's previous price after halving which is likely to occur within less than 48 hours from now.

[AVE5]

If we actually have to talk about stable assets, to be honest USDT is a more standard than bitcoin considering that bitcoin is volatile currency.
I can actually say that the recovery of the naira is a smuggling and with how much I've got to know about our government not being 100 dedicated on what they're engaged on, I see in a nearest where they'd feel exhausted and weak from those formalities and manipulations of to had brought the naira up to the value we'v experiences for times now. That's to say there's Possibilities for the rise of the dollar again which anyone holding the foreign is potential to have increase of their assets again.
Every financial economy is usually faced with Economy down an up towns which bitcoin is not exceptional.

Reason why BTC remains the smartest asset to hold as a Nigerian

You're right on all and if I may contribute to my best, bitcoin is the smartest assets for us as Nigerians in the sense that its value is not affected by those financial economy tussles such as the battles between the dollar and the naira.
Now, we as Nigerians who deals on bitcoin stands a safe side to boycott those economy difficulties in the sense that either dollar or the naira gains values over each other, every of us Nigerians bitcoin holders is at every chances to partake on the benefits suffer as we can assume to either earn in rh local or foreign currency.

If the dollar appreciates and the naira depreciates, it's to our benefits since bitcoin is subjected to be rated by dollar rate which means we would have much profits at the exchange.
If naira appreciates over dollar, it also stands chances for us to buy and accumulate more of bitcoins to our assets which could contribute to a larger increments of our bitcoin holding.

As long as bitcoin trading P2P is concerned, every Nigerian bitcoin enthusiastics would always have a bench to hold on and that's is why bitcoin is the smartest assets for the Nigerians of today and in the future.
This is why bitcoin is also considered a future financial way forward for every bitcoin holders.

[Doan9269]

I hope this topic title interpret and pass the message of this thread as simple as possible.

Permit me in making this little correction from the title which is, bitcoin does not seems, it is the safe haven available in this current situation, for those who have already made an investment in USD to hold their local fiat naira currency in USD, now the currency exchange rate has changed drastically against dollars and many would have lost huge amount of money at the cause, except if dollar later rises and those investing in it were able to hold till then when it appreciates back against dollar, but if it were to be bitcoin, there is this hope and confidence that the current economy and inflation will not affect the value of bitcoin the way it was with fiat, we can wake up tomorrow to discover bitcoin is now $80,000 and investors would have made a lot of profits.

[Miles2006]

Honestly speaking I can't even make a choice cause it's obvious, I see no value in our currency (naira) let's forget about the current situation as we see Naira value right now. Holding bitcoin is more profitable to Nigerians for now cause no know can predict what will happen next. Bitcoin is an investment choice while naira right now has no volatile nature or rather why will an investor choose to hold fiat depreciating in value, bitcoin current price no suppose shake long term investors but definitely na the nature of bitcoin. Everything has a benefit attached, people who earn in dollars during that season never complained with others so this is definitely one of the disadvantage of holding Naira, people holding Naria now can boldly speak out but this is actually beneficiary with both parties, this is an oppournity to earn more and save more. Benefit in essence is we have every opportunity to take advantage regardless the situation but the only problem right now if Naira depreciate the economy will not be in favour of the citizens or else what's the disadvantage