Is buying Bitcoin safe?

[Mikky02]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

[Churchillvv]

No it's never safe to buy bitcoin! you shouldn't try that you might end up in prison or something for buying bitcoin.

Everyone who has bought bitcoin in the last 15-16 years now are all dead or in prison infact I'm typing this with my prisoners laptop.

If eventually bitcoin is now safe please don't buy it might ruin your life in the long run 

[BenCodie]

No it's never safe to buy bitcoin! you shouldn't try that you might end up in prison or something for buying bitcoin.

Everyone who has bought bitcoin in the last 15-16 years now are all dead or in prison infact I'm typing this with my prisoners laptop.

If eventually bitcoin is now safe please don't buy it might ruin your life in the long run 

Hahaha quality sarcasm.

In all seriousness OP, yes it is safe to buy Bitcoin, from safe places. If you end up on a website that is not safe, you WILL lose either the bitcoin you buy or the money you use to buy it. Smoe of the safest platforms are coinbase.com, binance.com and are simple and safe enough for you to use without worrying too much. It is completely legal to buy/invest in Bitcoin in most if not all countries, your top concern should be how to keep yourself safe from hackers, scammers and so on. One mistake can cost you everything, so keep posting here or PM me if you need help. Stay safe out there.

[SquirrelJulietGarden]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

Buying Bitcoin is safe, it's only where you buy it and how you do your purchase trade.

If you buy bitcoin on a P2P platform, for example with bank transfer method, and there is Escrow by the platform. Only mark the trade as complete if you receive bitcoin when your trade partner releases it to you. If not, do Dispute to the platform and wait for result of dispute. Make sure you have screen record as proof of the trade for dispute.

When?
Anytime you are ready to buy bitcoin because with dollar cost averaging, there is no perfect time for purchase.

[Ammar M. A.]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

Looking at your post history, it turns out you are from Nigeria. This is a pathetic question coming from someone who comes from one of the countries that has the largest crypto adopters. The Bitcoin community is also big there, this should no longer be a question for you.

Source:
1. https://www.chainalysis.com/blog/subsaharan-africa-crypto-adoption-2024

- Ammar M. A.

[Despairo]

You said Bitcoin has helped you and now you're asking if buying Bitcoin is safe or not, what a bullshit.

The set of people who see bitcoin as a scam are those who involve themselves in bitcoin without a full knowledge of how the coin works and  rush into investing because they have seen their friends succeeding from bitcoin they just feel like is a bed of roses you don't just rush into investing without knowing nothing about it at first I thought same but with time I come to understand more about the coin which has helped me so far

[cxtreenal]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

Buying Bitcoin is definitely safe. For a volatile asset, you should be aware of its risk management before buy. So the truth is that Bitcoin is a long-term investment for high profits.

[K_vin]

The fact that you are in a space as vast as this that was built and running for years now just to enlighten traders and publish real time assistance and information about bitcoin almost invalidates your questions but then if you are asking from a genuine point of view then the answer is a capital YES, bitcoin is safe and that is why this platform exists in the first place,....however it can be unsafe for anybody who jumps in without proper knowledge, information and guidance as there are scammers everywhere,. Put your attention to it, understand how it works, how to safeguard your wallets, how price and value fluctuations work, then you are good to go

[Davidvictorson]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

Buying bitcoin is safe if you utilize the right channels for it. If you buy on an exchange be it centralized or decentralized that is unknown, you will lose you funds, and expose yourself to scammers and hackers if you had submitted a KYC.

This is list of top cryptocurrency exchanges where you can safely buy bitcoins - https://coinmarketcap.com/rankings/exchanges/. Focus on the top 5. Also check to know the particular exchange that works in your country. If you are interested in decentralized exchanges and how to buy bitcoin on them, continue reading this thread, some other user with more experience using them would give guidance.

[Proty]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

Well I must say am not surprised with this question of yours owing to the fact that you are a newbie, first of all volatility is the characteristics of all crypto currency including bitcoin making all crypto currency not to be risk free. So among all the crypto currency bitcoin has proven to be the most potential of all the coins. Those who has invested in it for a longer time like 4-10 yrs or more can attest to the fact that bitcoin is a potential coin and is unlike other crypto currency where the chance of you losing all your assets at a blink of an eye is very high. So do to the risk involved in crypto currency which bitcoin happens to be a among it is always advisable to invest your discretionary income, that is money you won't be needing for a long time. The best time to start accumulating bitcoin is when you have the discretionary income at your disposal.

[Taskford]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

Depends on your purpose also what you expect about it. Since Bitcoin is safe to buy, the thing what make it risk especially if you don't know what to do with this asset is its volatility and to many scams around.

So you better do your research before thinking about buying and more better not to buy now if you don't have any knowledge about it. Just came back when you are ready and gather enough information since with that state provably you are ready to take a risk investing on Bitcoin.

Also if you want to Hodl or buy to save it for long term then the answer regarding on when to buy is now. Don't waste good opportunity to act its because you provably missed some chance to move on another round of accumulation process if you are waiting for dip or doubting.

[Marykeller]

OP, I will leave you with the advice you gave in Naija local board, whether actually Bitcoin is a safe invest to make or not.

If u can notice it the first three letters of crypto is 'cry' funny enough we most know that whatever we involve ourselves in crypto we must bear risk don't just go into crypto because you see people going into it and they succeed don't mean they don't bear risk as one going into crypto you most be a risk bearer prepare you mind for that so even when it happens you don't get surprised Above all get a good information about crypto or probably an online class be informed people get thinks wrong most at times because they are not guided

Judging by your statement, don't you think it is right for one to get the right information and be guilded towards Bitcoin investment before investing in it. By then, they can differentiate if ''Bitcoin is a safe investment to make or not"

[Agbe]

You said Bitcoin has helped you and now you're asking if buying Bitcoin is safe or not, what a bullshit.

The set of people who see bitcoin as a scam are those who involve themselves in bitcoin without a full knowledge of how the coin works and  rush into investing because they have seen their friends succeeding from bitcoin they just feel like is a bed of roses you don't just rush into investing without knowing nothing about it at first I thought same but with time I come to understand more about the coin which has helped me so far

 You bolded only the last  part of the paragraph and the meaning of the last part is from the beginning of the sentence. From my understanding of the underlined or bolded part of the clause is, understanding/knowing bitcoin has helped him or her more. From the quote you brought fourth from the Op, he was was talking about knowledge about others who rush to invest without knowing bitcoin and for him, he will  not rush but he will invest with the basic knowledge even at that as a newbie, he still need to confirm something to know more before venturing into the real investment. And if bitcoin has helped him he should specify the area. But for the quote you brought here, I see bitcoin knowledge and not bitcoin helped per say. It is just a contextual meaning.

And going back to the Op. You have to understand bitcoin from the 4 cardinal points. 1. Price of bitcoin at the time of purchase 2. Dollar/Local Currency at the time of purchase 3. Duration of the investment and 4. The method of purchase. And if get this accurately then you can invest and be safe in your investment.

[tabas]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

It's not safe when you don't know when to buy. Because you are undecided and that could lead you to blame other people for suggesting to buy it as soon as you've read the replies. Well, to be honest, you should just buy it whenever you're comfortable buying it. There's no actual time when is the best time to buy it and I think that's the question that you want to bring up and not about safety. Or if you mean it then it's about being safe about the market crashes but that's hard to know when they'd come so bear with your decision and anytime is a good time to buy.

[YOSHIE]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

What you doubt with Bitcoin, everyone discusses Bitcoin, that is one of the digital currencies that is trusted by all elements, ranging from the government, companies, investors, writers, Scientists to the mafia and bandits trust the digital currency of one bitcoin, so what you kwatirkam and doubt with Bitcoin, recorded thousands of poor people to become rich because of Bitcoin, are you still unsure.

Try to read this!
Mapped: Crypto Ownership Growth by Region

Code:

Region	2023	2024	% Change
South America	25.5M	55.2M	116.5%
Oceania	1.4M	3.0M	114.3%
Europe	30.7M	49.2M	60.3%
North America	52.1M	72.2M	38.6%
Asia	268.2M	326.8M	21.8%
Africa	40.1M	43.5M	8.5%

So, how now, talking about buying, you can buy it anytime.

[moneystery]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

you've been on this forum since 2024 and you're just asking about something as simple as this? i don't know if you're really that naive or just don't care. if you've entered this forum and really want to know about bitcoin, you should have known from the start whether bitcoin is really safe or not.

and regarding when is the right time to buy or not, then today is the right time to buy it. if you have a plan then just buy it now no need to wait any longer.

[Huliya]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

We all know that Bitcoin is a digital asset. Which cannot be caught or touched. That is why many people have a question in their minds whether it is really safe to invest or buy?

I personally think that Bitcoin is a safe asset. There are several reasons for this. Bitcoin is a decentralized asset system. Which no one has control over. Even if someone or any organization wants, they cannot increase Bitcoin or completely delete it. The internet world is there. We all know that after a certain time, Bitcoin can no longer be mined. After mining 21 million Bitcoins, mining will run out. Then Bitcoin will become very valuable.

In my opinion, Bitcoin is still a very valuable asset. All I want to say is that you should try to learn about Bitcoin from a real expert.

[Mayor of ogba]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

If there is any digital currency you should invest your money in, I would tell you to invest your money in bitcoin because bitcoin has lasted for more than a decade, and you will not lose your money in bitcoin investment if you don't sell it out of panic. There's no right time to invest in bitcoin because it will look like you are timing the market to buy bitcoin at a low price, which will delay you from accumulating bitcoin. If your money is readily available, you can start accumulating bitcoin right away with the DCA strategy since you are a low coiner, and the DCA strategy will allow you to consistently accumulate bitcoin either on a weekly or monthly basis.

[notocactus]

We all know that after a certain time, Bitcoin can no longer be mined. After mining 21 million Bitcoins, mining will run out.

Bitcoin blockchain is Proof of Work and if there is no Bitcoin miner to do work (mining blocks, confirming transactions), Bitcoin blockchain will die, Bitcoin will die consequently too.

You spread misinformation here. After 21 million bitcoins mined, mining won't run out because if it happens, as I analyzed above, Bitcoin blockchain will be dead. Miners will continue to mine Bitcoin blocks, and get income from Bitcoin transaction fees.

Then Bitcoin will become very valuable.

Bitcoin is valuable because of its design, not because after 2140, Bitcoin mining will run out.

How is the 21 million bitcoin cap defined and enforced?
What Will Happen to Bitcoin After All 21 Million are Mined?

[suzanne5223]

I Really want to know if buying Bitcoin is safe? If yes when should one buy Bitcoin

The crypto that's ever safe to accumulate will always be Bitcoin for it is the only true decentralized cryptocurrency, and it is also the only crypto that faces the Feds challenge and still prevails. If it is not the safest crypto to buy BlackRock, GrayScale, Fidelity, and others won't have to make it their priority before going after the altcoin ETF.

Despite Bitcoin being the safest crypto in the market you still need to understand how the market works, don't buy BTC ETF, or wBtc (shitcoin) and hold the BTC in the self-custodial wallet.