Focus more on accumulating Bitcoin rather than memecoins

[SOKO-DEKE]

Nowadays, memecoins are viewed as a way of scamming people. Most memecoin projects are pump and dump schemes, so putting money into them is more like gambling than investing. These projects are generally not designed for the long term.On the other hand, Bitcoin carries less risk and is meant for long-term investment. That is why, for anyone aiming to invest in cryptocurrency, it’s better to focus on Bitcoin.

Even if you're interested in putting money into alternative coins, you shouldn't invest much in them. Ideally, only about 5–10% of your investment should go into altcoins, while the rest should be invested in Bitcoin. With this strategy, your risk is much lower than if you were to gamble with your money by putting 80% of your investment into memecoin projects.It’s very easy to lose almost everything you have invested within 24 hours in such high-risk schemes. So, let’s not be too greedy for quick profits and end up making the wrong decisions.

[EG_O]

Nowadays, memecoins are viewed as a way of scamming people. Most memecoin projects are pump and dump schemes, so putting money into them is more like gambling than investing. These projects are generally not designed for the long term.On the other hand, Bitcoin carries less risk and is meant for long-term investment. That is why, for anyone aiming to invest in cryptocurrency, it’s better to focus on Bitcoin.

Even if you're interested in putting money into alternative coins, you shouldn't invest much in them. Ideally, only about 5–10% of your investment should go into altcoins, while the rest should be invested in Bitcoin. With this strategy, your risk is much lower than if you were to gamble with your money by putting 80% of your investment into memecoin projects.It’s very easy to lose almost everything you have invested within 24 hours in such high-risk schemes. So, let’s not be too greedy for quick profits and end up making the wrong decisions.

80% of all this coins re nothing to write home about, it doesn't yield any fruit rather one will just be waisting his or time, energy and even money, because you will be logging in almost all the time to mine the coin but Bitcoin has come to stay forever, so it's important that our Niaja guys should start investing on BTC and start accumulating more coins rather than waisting time on some of this coins

[Dr.Bitcoin_Strange]

I do agree firmly on the topic matter, for someone that is interested to invest on digital assets like crypto, they don't have to be too convinced on altcoins but Bitcoin should be a most prioritized asset. If the person really have the knowledge of how to scale through in altcoins investment, they can use 20% of their capital for altcoins while 80% for Bitcoin, that's if the person has actually allocated that 100% capital for just crypto investment, but not when they want to diversify on other physical assets.

[Mayor of ogba]

People that have discretionary income in Nigeria are already investing in bitcoin, but the Nigerian government is the reason why it looks like Nigerians aren't investing in bitcoin or using bitcoin. There are cases of people who commit suicide because they lost a big amount of money in altcoin investment, so I won't advise anyone to invest in altcoins because you aren't guaranteed of success. I know bitcoin investment isn't risk free, but you can only lose your money in bitcoin investment if you sell your bitcoin out of fear. Bitcoin investment is the right investment for anyone that want to invest in digital assets since you won't lose all your money in bitcoin investment, and it more guaranteed than altcoin investment.

[Mate2237]

People that have discretionary income in Nigeria are already investing in bitcoin, but the Nigerian government is the reason why it looks like Nigerians aren't investing in bitcoin or using bitcoin. There are cases of people who commit suicide because they lost a big amount of money in altcoin investment, so I won't advise anyone to invest in altcoins because you aren't guaranteed of success. I know bitcoin investment isn't risk free, but you can only lose your money in bitcoin investment if you sell your bitcoin out of fear. Bitcoin investment is the right investment for anyone that want to invest in digital assets since you won't lose all your money in bitcoin investment, and it more guaranteed than altcoin investment.

@Mayor of ogba how is the Nigerian government responsible for reasons why people are not investing in Bitcoin. I don't agree with you yes in the past the Nigerian government was skeptical about crypto and so they took some decisions that were not crypto friendly. But even yet there were people who were still investing into crypto currency. Investing in crypto currency is a personal choice so anyone who is not ready or even convinced about crypto should be left alone.

It's common knowledge that people invest in Bitcoin more than altcoins because, Bitcoin has shown overtime to be be stable in price and trustworthy to investors this has made Bitcoin the most invested crypto currency. Altcoins has has little or no stable characteristics making them highly volatile and dangerous to invest in.

[Somto9Light]

The truth is there's no way that people would stop putting focus on memecoins, moreover people like going for something that can give them quick profit and not something that will take a whole lot of time before the profit will come. The funniest part is some people already knew about the risk still they chose to go into it, some people don't believe in other people's experience they like seeing it by themselves and that's foolishness. We have heard several stories regarding this meme coins about how they get hyped and later get dumped yet people are still going for it due to greed and impatient.

[Mayor of ogba]

People that have discretionary income in Nigeria are already investing in bitcoin, but the Nigerian government is the reason why it looks like Nigerians aren't investing in bitcoin or using bitcoin. There are cases of people who commit suicide because they lost a big amount of money in altcoin investment, so I won't advise anyone to invest in altcoins because you aren't guaranteed of success. I know bitcoin investment isn't risk free, but you can only lose your money in bitcoin investment if you sell your bitcoin out of fear. Bitcoin investment is the right investment for anyone that want to invest in digital assets since you won't lose all your money in bitcoin investment, and it more guaranteed than altcoin investment.

@Mayor of ogba how is the Nigerian government responsible for reasons why people are not investing in Bitcoin. I don't agree with you yes in the past the Nigerian government was skeptical about crypto and so they took some decisions that were not crypto friendly. But even yet there were people who were still investing into crypto currency. Investing in crypto currency is a personal choice so anyone who is not ready or even convinced about crypto should be left alone.

It's common knowledge that people invest in Bitcoin more than altcoins because, Bitcoin has shown overtime to be be stable in price and trustworthy to investors this has made Bitcoin the most invested crypto currency. Altcoins has has little or no stable characteristics making them highly volatile and dangerous to invest in.

Mate2237, please read my post again to understand that I didn't say that the Nigerian government was responsible why people aren't investing in bitcoin. What I meant is that since the Nigerian government implement a policy that didn't allow the citizens of Nigeria to freely invest in bitcoin or cryptocurrency, people who are investing in bitcoin are keeping a low profile so that their bank account won't be freezon.