How to succeed in bitcoin investing in Nigeria.

[Jubilee58]

Investing in bitcoin is every risky, is like taking the bull by the horns, but at these time , there is a good opportunity for investors to make good gains when the price surges.
In order to succeed in bitcoin, you need good planning and proper decision making.

There are some strategies that one can use while investing in bitcoin in order to succeed, and as you deploy these strategies, it is going to help you a lot in your bitcoin journey, and some of these strategies are as follows:

In order to succeed in bitcoin investing, using a good or reputable exchange is a key, because some exchanges have good security plans that can help to protect your bitcoin against scammers.

Know the reason why you are investing in bitcoin: In this case, different people with different mindset, some people are investing in bitcoin as in order to hold it as a store of value, some are investing in bitcoin in order to hold it for long term, while some are short term traders, so when you know why you are investing in bitcoin, it will help you to make a good decision.

Another thing worth knowing is that, while investing in bitcoin, do not be afraid to invest in bitcoin, may be because of bitcoin volatility, and do not look for much gain from your bitcoin investment, as these two factors can be very dangerous in bitcoin investing, and more also, do not be in a hurry when making your decision in order not to make serious mistake.

Another thing that can make you succeed in your bitcoin journey, is when you keep yourself updated about bitcoin news, make sure you are well informed about bitcoin news, as following news update will help you to know the best step and decision to make and at the right time.

Making your personal research is very necessary while investing in bitcoin, try to know how bitcoin works, know about the history of bitcoin from creation till date.
Do not follow what people are saying about bitcoin, but when you make your own research, you will be able to know the best decision to take.

[Kelward]

The rules to succeed in Bitcoin investment is not peculiar to Nigeria, alone it is the same everywhere in the world because Bitcoin is decentralized. Bellow I go summarize some tips wey person go follow if im want to succeed for Bitcoin investment inside Nigeria, and anywhere in di world.

Get a reliable source of income: Bitcoin na investment wey you need money to make money, you need to buy Bitcoin and hodl am for a long term before e go give you better returns on investment (ROI). Bitcoin investment no go work if you no get a Job or business wey de take care of your basic needs like food, also you need to get discretionary funds from where you go de conveniently buy Bitcoin. If your income no de enough for you to get discretionary funds make you postpone Bitcoin investment until you get am

Long term goal: To succeed in Bitcoin investment you suppose to get a solid strategy so you go de focused to de buy and hodl for many years because a lot of financial distractions go de come up along di way. DCA method be di proven strategy wey de help many investors to de accumulate Bitcoin for many years.

Your wallet security: Your wallet na di access to your Bitcoin inside Blockchain, anything wey happen to your wallet you fit to lose access to your coins forever. No click anything wey you no understand inside di online device wey your wallet de unless you de use hardware wallet because e fit be phishing links from hackers. Hide your private keys well well because na access to your wallet. E no de advisable to use exchange account for your DCA accumulation, not your keys not your coins. Better to use none custodial wallet wey you be di sole custodian of your keys.

Don't make your Bitcoin investment a public discussion; we de hear stories about attacks on crypto holders especially Bitcoin. As we de for bull run make you no go de announce say your fowl don born turkey, meaning say make you no go de tell all your family and friends say your Bitcoin don give you plenty profit. Some people wey you tell fit to plan for your attack.

[New Judgement]

using a good or reputable exchange is a key, because some exchanges have good security plans that can help to protect your bitcoin against scammers.

Rule number 1 never you store your Bitcoin in an exchange. No matter how good the exchange promises you that their security it, never trust them enough to store your Bitcoin in an exchange. The best place to store your Bitcoin that can keep them away from scammers are non custodial wallets, and making sure that the private keys are well secured in a place only you have access.

[Judith87403]

The rules to succeed in Bitcoin investment is not peculiar to Nigeria, alone it is the same everywhere in the world because Bitcoin is decentralized. Bellow I go summarize some tips wey person go follow if im want to succeed for Bitcoin investment inside Nigeria, and anywhere in di world.

Get a reliable source of income: Bitcoin na investment wey you need money to make money, you need to buy Bitcoin and hodl am for a long term before e go give you better returns on investment (ROI). Bitcoin investment no go work if you no get a Job or business wey de take care of your basic needs like food, also you need to get discretionary funds from where you go de conveniently buy Bitcoin. If your income no de enough for you to get discretionary funds make you postpone Bitcoin investment until you get am

Long term goal: To succeed in Bitcoin investment you suppose to get a solid strategy so you go de focused to de buy and hodl for many years because a lot of financial distractions go de come up along di way. DCA method be di proven strategy wey de help many investors to de accumulate Bitcoin for many years.

Your wallet security: Your wallet na di access to your Bitcoin inside Blockchain, anything wey happen to your wallet you fit to lose access to your coins forever. No click anything wey you no understand inside di online device wey your wallet de unless you de use hardware wallet because e fit be phishing links from hackers. Hide your private keys well well because na access to your wallet. E no de advisable to use exchange account for your DCA accumulation, not your keys not your coins. Better to use none custodial wallet wey you be di sole custodian of your keys.

Don't make your Bitcoin investment a public discussion; we de hear stories about attacks on crypto holders especially Bitcoin. As we de for bull run make you no go de announce say your fowl don born turkey, meaning say make you no go de tell all your family and friends say your Bitcoin don give you plenty profit. Some people wey you tell fit to plan for your attack.

Your informations are very correct, you know I was actually expecting op to point out all this, because this things you just mentioned here are the Basic tools that can guide us throughout our investment journey, more especially when you said about don't make your bitcoin investment a public discussion. because majority of this guys that end up losing thier assets to scammers failed to keep thier Investment as a top secret, most people even make it obvious by publishing thier wallet balance in the media for the world to see the stash of bitcoin they have in thier portfolio which is very wrong. So for us to succeed in bitcoin investment we need to disengage ourselves from  any crypto related discussions that is brought offline or any platform that you can easily be detected as this is one of the best safety precautions to take as a bitcoin investor.

[LayerzWallet]

using a good or reputable exchange is a key, because some exchanges have good security plans that can help to protect your bitcoin against scammers.

Rule number 1 never you store your Bitcoin in an exchange. No matter how good the exchange promises you that their security it, never trust them enough to store your Bitcoin in an exchange. The best place to store your Bitcoin that can keep them away from scammers are non custodial wallets, and making sure that the private keys are well secured in a place only you have access.

Very good point. We would add that it is also important not to advertise your holdings and potentially make use of plausible denial functionality when available

[Obim34]

In order to succeed in bitcoin investing, using a good or reputable exchange is a key, because some exchanges have good security plans that can help to protect your bitcoin against scammers.

You should not hold your Bitcoin in an exchange. Know the difference between a wallet and an exchange. A wallet can be hot wallet or cold wallet. Hot wallet are online wallet connected to the internet, while cold wallet are offline wallet like the hardware wallet. A wallet should store your Bitcoin, open source are the best dealing with online wallets.

Exchange is a software to trade, buy and sell cryptocurrencies. Exchanges are not secured to hold your Bitcoin because it is fully centralized, (centralized mean allowing the platform manage your keys meanwhile "not your keys not your coins") and they are likely susceptible to hack or frozen by the platform.

[Zigabel]

In as much as storing your Bitcoin on exchanges is and has never been considered ideal, we cannot take out the fact that exchanges are very vital and needed in our crypto journey as they serve varying purposes which we will always need in oder for us to thrive in the crypto space. When you need to buy or sell and sometimes convert your assets to another, most often you will need the services of an exchanges but it still doesn’t make it a good space to leave your assets for a long term, for the short term just before you sell or trade your asset, you may have it in the exchange but it shouldn't be a place of storage for reasons of possible compromise.

The rules stated by OP are rules that applies generally in the crypto space and I believe a vast majority know but like I will always put, our problem has continually reminded with applying and keeping to all of this at once , we may be doing some of it but not all of it.