The power of bitcoin HODLING in Nigeria........

[Donk1]

Greetings folks So after some resarch it led me to write on this topic on our Nigeria board Way Involve Holding. So yes the word HODL first started as a mistake in spelling from one of our Bitcoin forum members but now it has become a word that is given respect which SIMPLY means buy and hold for the long term.
So presently the high inflation of our currency the naira in our country has become a problem to us whereby we work hard day by day  but then the price of things goes up and that money we have worked hard for and saved decreases. So how can we plan ahead if all we keep think about is the present This is where Bitcoin come  in as a digital asset. Even if there will only be 21 million coins that will ever exist the value and potential of Bitcoin will never cease to exist.

The potential of holding in Bitcoin....

1). You are in full control: Bitcoin holding as a Nigerian gives us absolute control over your money, free from any third party banks with their limits and restrictions which has often brought pain and disappointment.

 2). Saving your money: Holding our money in Bitcoin has helped us keep the value of our money giving us peace of mind with no stres.

 3).The power  of scarcity: The potential of Bitcoin as a digital asset has made it rare, unlike our naira which is paper money. With Bitcoin   it has given us the perfect security we deserve.

As we all know holding Bitcoin comes with risks, but our experience with our Nigerian naira has made it the best choice rather than just waiting for our money to lose value. That is why we should always have the patience to invest and hold.
Lastly to finally end this topic I would like to say the word 'Bitcoin holding' means a lot of things but one thing it truly means is that it stands for hope in a broken system  It builds foundations not only for us but for our future and further generations to ensure a better future one where there would be no political issues. In fact holding means a lot of things and my prayer is that our holdngs and our hard work won't be ruined by forces of any kind Amen..........
Thanks for your time.

[Youngrebel]

Yes bitcoin holding e dey good for di people wey dey interested. But we have to know dat di market e dey volatile, both from di bitcoin side and from di local exchange rate. Like, dis few days Naira e dey get gain against di dollar which na good thing but e go affect those wey get good number of bitcoin before because when dem go sell am the amount no go dey same when the price been dey high. And if di price go down well well go affect more but for those wey go invest wen di price e dey low, dem go enjoy am.
Invest in bitcoin at the right time and enjoy di benefits.

[Sticky Bomb]

2). Saving your money: Holding our money in Bitcoin has helped us keep the value of our money giving us peace of mind with no stres.

This is only possible when you hold for long, let's say 2 or 3 cycles and be sure to draw profits after you've reached your accumulation target and during the bull run so you can get a high return for your money.

We can see that cashing out during the bear season would see you having a lower return value for your money even though you might be in profits.

3).The power  of scarcity: The potential of Bitcoin as a digital asset has made it rare, unlike our naira which is paper money. With Bitcoin   it has given us the perfect security we deserve.

What made Bitcoin scarce is it's limited supply, knowing that Bitcoin can never increase in quantity and the amount in circulation is always far less than the total supply makes it more in demand and the price increasing.

The law of economics says it all, the more demand supersedes supply, the greater value the scarce resource has

[Doan9269]

The potential of holding in Bitcoin....

1). You are in full control: Bitcoin holding as a Nigerian gives us absolute control over your money, free from any third party banks with their limits and restrictions which has often brought pain and disappointment.

 2). Saving your money: Holding our money in Bitcoin has helped us keep the value of our money giving us peace of mind with no stres.

 3).The power  of scarcity: The potential of Bitcoin as a digital asset has made it rare, unlike our naira which is paper money. With Bitcoin   it has given us the perfect security we deserve.

You cant hold bitcoin and still not have mastery over it, this does not even applies to being a Nigerian alone, but in anywhere you are, you're not holding onto the government controlled currency, instead a decentralized digital currency that you have control over for yourself, also, its because of this same opportunities many have seen with bitcoin that has helped the more towards its increase in adoption and how the people have been always in search for various opportunities over it adoption.

[Cryptohygenic]

Op I no actually no where to com from 4 this ur thread but wetin dey there be say to dey save our money for bank or Naira no gud bcos e dey depreciate values as economy dey grow. Who non know physical cash dey loose values like us way dey use naira to think say #100 today go be #100 as time dey go but no fit wonder y #100 today no fit buy wetin #100 dey buy years past.
Na how valueless e be to store ur money for banks.
So for this sake bitcoin to help keep the value of ur money secured way be say if u hold an for the long e go even grow pass the economy way em inflation dey beat naira value.

[Mate2237]

Lastly to finally end this topic I would like to say the word 'Bitcoin holding' means a lot of things but one thing it truly means is that it stands for hope in a broken system  It builds foundations not only for us but for our future and further generations to ensure a better future one where there would be no political issues. In fact holding means a lot of things and my prayer is that our holdngs and our hard work won't be ruined by forces of any kind Amen..........
Thanks for your time.

I don't think that any thing will stands as an obstacle to holding as far as am concerned because the truth is the future looks good for crypto and holdling is the password that investors will have to enjoy the full potentials of Bitcoin because Bitcoin is a scarce asset so this scarce property of Bitcoin can only be harness through holding.


And with the unstable nature of our Nigerian Naira the best thing for any Nigerian investor is to look into the future by investing in Bitcoin with the long term view because when it comes to Bitcoin investment holding is the key.

[RockBell]

Yes bitcoin holding e dey good for di people wey dey interested. But we have to know dat di market e dey volatile, both from di bitcoin side and from di local exchange rate. Like, dis few days Naira e dey get gain against di dollar which na good thing but e go affect those wey get good number of bitcoin before because when dem go sell am the amount no go dey same when the price been dey high. And if di price go down well well go affect more but for those wey go invest wen di price e dey low, dem go enjoy am.
Invest in Bitcoin at the right time and enjoy di benefits.

from the result people are seeing they also want to be part of something great, and this is why even with the volatility of bitcoin people still pick interest in investing in bitcoin and the only thing that will make them succeed this far is for them to hold for a very long time, that is the only way that they can go far and eventually if they don't hold then whats is now the point of holding bitcoin because there people that the moment there is panic in the market the next thing they are selling so enough knowledge will help them to do much better and understand how bitcoin works so everything shows how important knowledge is in bitcoin.

[Jubilee58]

Bitcoin as a digital asset is worth holding as Nigerians ,because it will help to retain the value of our currency naira. For now , naira has depreciated in value both here in Nigeria and in the international market.Even though it  comes up sometime, but the exchange rate fro naira to dollar is still very poor. So to retain the value of our money, bitcoin investment is the key to that.You need to buy and hold bitcoin as a long time investment asset. As Nigerians keeping our money in the bank will not stop our from loosing value , instead bank will even be debiting you for keeping your money.

Holding your money in bitcoin will not only stop your money from depreciating, but will help in adding value to you money and grant you financial freedom with time.As Nigerians, we should endeavour to invest in bitcoin and hold it for a long time, as it is one of the good ways we can sustain the value of our money.

[MainIbem]

Yes bitcoin holding e dey good for di people wey dey interested. But we have to know dat di market e dey volatile, both from di bitcoin side and from di local exchange rate. Like, dis few days Naira e dey get gain against di dollar which na good thing but e go affect those wey get good number of bitcoin before because when dem go sell am the amount no go dey same when the price been dey high. And if di price go down well well go affect more but for those wey go invest wen di price e dey low, dem go enjoy am.
Invest in bitcoin at the right time and enjoy di benefits.

Eh get things I go like make you understand, volatility no suppose be problem for Bitcoin holders, and nah only people wey dey invest for short-term period go dey worry say the price they low and them no fit sell, Bitcoin done turn to asset wey be say you gats hodl am for long like one full season or a decade before you go begin consider to sell and if person no get that kind patience to wait then nothing concern am with Bitcoin for the first place, if person dey consider to buy bitcoin for short-term profits then the person go always dey panic every now and then cause of volatility. Anyway talking about the right time to invest, anytime na the right time so far say the investor dey think of to hodl am for long-term.

[Out of mind]

The potential of holding in Bitcoin....

1). You are in full control: Bitcoin holding as a Nigerian gives us absolute control over your money, free from any third party banks with their limits and restrictions which has often brought pain and disappointment.

 2). Saving your money: Holding our money in Bitcoin has helped us keep the value of our money giving us peace of mind with no stres.

 3).The power  of scarcity: The potential of Bitcoin as a digital asset has made it rare, unlike our naira which is paper money. With Bitcoin   it has given us the perfect security we deserve.

Bitcoin is a currency that gives every person full control and helps them financially. Investing in Bitcoin is profitable compared to paper money and it will provide freedom to every person. Since the price of Bitcoin is constantly increasing, it definitely gives us a peace of mind and gives us profit. As a digital asset, Bitcoin is the most popular currency where people are currently investing to improve their financial situation. The way digital currencies are currently increasing in popularity, maybe at some point people will be attracted to digital currencies compared to paper currencies.

[Grace333]

Greetings folks So after some resarch it led me to write on this topic on our Nigeria board Way Involve Holding. So yes the word HODL first started as a mistake in spelling from one of our Bitcoin forum members but now it has become a word that is given respect which SIMPLY means buy and hold for the long term.
So presently the high inflation of our currency the naira in our country has become a problem to us whereby we work hard day by day  but then the price of things goes up and that money we have worked hard for and saved decreases. So how can we plan ahead if all we keep think about is the present This is where Bitcoin come  in as a digital asset. Even if there will only be 21 million coins that will ever exist the value and potential of Bitcoin will never cease to exist.

The potential of holding in Bitcoin....

1). You are in full control: Bitcoin holding as a Nigerian gives us absolute control over your money, free from any third party banks with their limits and restrictions which has often brought pain and disappointment.

 2). Saving your money: Holding our money in Bitcoin has helped us keep the value of our money giving us peace of mind with no stres.

 3).The power  of scarcity: The potential of Bitcoin as a digital asset has made it rare, unlike our naira which is paper money. With Bitcoin   it has given us the perfect security we deserve.

As we all know holding Bitcoin comes with risks, but our experience with our Nigerian naira has made it the best choice rather than just waiting for our money to lose value. That is why we should always have the patience to invest and hold.
Lastly to finally end this topic I would like to say the word 'Bitcoin holding' means a lot of things but one thing it truly means is that it stands for hope in a broken system  It builds foundations not only for us but for our future and further generations to ensure a better future one where there would be no political issues. In fact holding means a lot of things and my prayer is that our holdngs and our hard work won't be ruined by forces of any kind Amen..........
Thanks for your time.

Omo na true talk.. This naira matter don show everybody say saving for bank no really get head, today you save 100k, tomorrow e fit no buy same bag of rice again. Na why many people dey turn face go Bitcoin, because e dey hold value pass wetin CBN dey do with their paper.. To hodl no easy sha, e dey require patience, but at least you know say wetin you dey keep no go dey chop by inflation like naira wey dey lose weight everyday..

Another thing be say Bitcoin don really give us freedom, you fit dey control your money without waiting for bank network wey go dey fail every weekend. Na true say e get risk, but risk dey everywhere for life. The difference be say this one dey give us hope, and if person fit discipline himself to hodl, e go later smile when others still dey cry for inflation. For me na steady hodl be the only way wey Nigerian youth fit save their future..

[Frankolala]

Yes bitcoin holding e dey good for di people wey dey interested. But we have to know dat di market e dey volatile, both from di bitcoin side and from di local exchange rate. Like, dis few days Naira e dey get gain against di dollar which na good thing but e go affect those wey get good number of bitcoin before because when dem go sell am the amount no go dey same when the price been dey high. And if di price go down well well go affect more but for those wey go invest wen di price e dey low, dem go enjoy am.
Invest in bitcoin at the right time and enjoy di benefits.

Who tell you say them go like sell their bitcoin for this cheap price. Wetin OP mean be say, instead of you to dey save for bank due to the flaws for Naira and Nigeria system, make you keep your savings for bitcoin. When I means saving no be the money wey you won use do something next week or next month. Na the money wey you won save for long periods of time. If you use such money buy bitcoin, you go hodli till the price go increase well well.

[Iamgoat]

Bitcoin is a currency that gives every person full control and helps them financially. Investing in Bitcoin is profitable compared to paper money and it will provide freedom to every person. Since the price of Bitcoin is constantly increasing, it definitely gives us a peace of mind and gives us profit. As a digital asset, Bitcoin is the most popular currency where people are currently investing to improve their financial situation. The way digital currencies are currently increasing in popularity, maybe at some point people will be attracted to digital currencies compared to paper currencies.

Digital currencies are always a better advancement to the financial institution and industry today, what we used to do in the past is using the traditional currency for our transactions alone. By so doing, we are faced with a lot of problems around boundaries, limitations and challenges when it comes to international or transnational transactions. Another testament to the financial bridge bitcoin has contributed to the world's financial industry today is the rapid growth and adoption of the bitcoin technology in the world which has also brought about the significant growth the bitcoin technology has seen over the years.

It is a general advise to everyone to adopt bitcoin and invest in it however little. You also do not need to be dramatic about it. You don't have to put all your money into bitcoin. No. What you can do alternatively is to have a stake in it and not to be over pressurized about it.

[rachael9385]

Although saving in Bitcoin has it's down sides and it takes a lot of discipline to be able to be relaxed because the price is unstable, might crypto market deals with volatility at all times. For someone who's new to bitcoin he or she might feel emotionally unstable when there is a reduction in the price but for someone thats experienced and mentally mature you'd know that it's just a phase. Saving in bitcoin gives you a hundred percent control over your assets solving that problem of limitations and restrictions from banks. In a nutshell, investing or saving in Bitcoin is more profitable than saving in fiat currencies

[Scarlett_23]

Yes bitcoin holding e dey good for di people wey dey interested. But we have to know dat di market e dey volatile, both from di bitcoin side and from di local exchange rate. Like, dis few days Naira e dey get gain against di dollar which na good thing but e go affect those wey get good number of bitcoin before because when dem go sell am the amount no go dey same when the price been dey high. And if di price go down well well go affect more but for those wey go invest wen di price e dey low, dem go enjoy am.
Invest in bitcoin at the right time and enjoy di benefits.

Eh get things I go like make you understand, volatility no suppose be problem for Bitcoin holders, and nah only people wey dey invest for short-term period go dey worry say the price they low and them no fit sell, Bitcoin done turn to asset wey be say you gats hodl am for long like one full season or a decade before you go begin consider to sell and if person no get that kind patience to wait then nothing concern am with Bitcoin for the first place, if person dey consider to buy bitcoin for short-term profits then the person go always dey panic every now and then cause of volatility. Anyway talking about the right time to invest, anytime na the right time so far say the investor dey think of to hodl am for long-term.

I really like your opinion. I also think that if someone is patient and wants to wait for two to three cycles or decades, then they can be successful by investing here. Although Bitcoin is volatile in nature, this volatility of Bitcoin is sometimes due to market correction. It is made more volatile by those who make short-term investments, who start selling out of fear due to rumors.

Here, there is no fear and we have to judge with logic. Because we know that if the demand for a product is more than the supply, its price will increase, and if the demand is less, the price will decrease.

The main thing in investing here is to invest patiently and for the long term.

[Princess Leah]

Although saving in Bitcoin has it's down sides and it takes a lot of discipline to be able to be relaxed because the price is unstable, might crypto market deals with volatility at all times. For someone who's new to bitcoin he or she might feel emotionally unstable when there is a reduction in the price but for someone thats experienced and mentally mature you'd know that it's just a phase. Saving in bitcoin gives you a hundred percent control over your assets solving that problem of limitations and restrictions from banks. In a nutshell, investing or saving in Bitcoin is more profitable than saving in fiat currencies

You don't save in Bitcoin, you invest in Bitcoin dear a Nigerian can decide to save with currencies with better value and stable like USDT but when it comes to Bitcoin you should use the term "invest" rather cause when you put your money into Bitcoin it increases in value as time goes and even though it's very volatile, the longer your money remains there the more chances of getting better returns as time goes.

 Left for me, I don't think I'll advice any of our country men to save in our local currency especially now that the value has depreciated so bad, they can either save in stable coins or invest in Bitcoin, it's a thing of choice but I see Bitcoin as the better option since it would yield more profits on the long run, just that it requires lots of patience which some of our country men might lack.

[Judith87403]

Although saving in Bitcoin has it's down sides and it takes a lot of discipline to be able to be relaxed because the price is unstable, might crypto market deals with volatility at all times. For someone who's new to bitcoin he or she might feel emotionally unstable when there is a reduction in the price but for someone thats experienced and mentally mature you'd know that it's just a phase.

That is the reason why is advised to have the basic knowledge about bitcoin investment before investing into bitcoin, if you have not acquired any knowledge not to talk of getting the Basic knowledge you won't be able to overcome this challenges but when you have the basic knowledge about bitcoin investment definitely you won't see the volatility as much of a big deal  so when you see it happening you will just pay less attention but to focus in making your weekly or monthly routine buying of bitcoin. So this is just all about knowing what you're into, and not just diving into investment when you don't even know about these volatility or how the Investment works.

[Abdulzuruku01]

Given how Nigerian banks operate in terms of transactions, I strongly believe that in the future, many Nigerians who currently have no knowledge about Bitcoin will need to understand it and start holding their money in Bitcoin. Depositing a large amount in banks is a problem which if care is not taken, it may lead to the investigation or restriction of your account, imagine your account being restricted for your own money. There are several unnecessary reasons that annoy me about banks, especially the government authority over them and the inflation, which we still have to trust them to keep our money.

Bitcoin is decentralized in nature, there's no single entity to investigate or restrict your Bitcoin accounts because it operates without a central authority. Holding your money in Bitcoin gives you full control over your assets without intermediaries. Just learn the basics, understand the risks, and choose a reputable wallet ideally cold wallet. Hold Bitcoin for the long term, bet it's more profitable than short term. My advice to new investors, avoid holding your Bitcoin in custodial wallets, because they're similar to saving your money in a bank without any control.