Hodl (Naija)

[Karl_3000]

🇳🇬 ₦112,973,425 ($85,100 €75,953 £64,346).

I will advise that instead of saving money in bank, why not leave it in bitcoin, the way naira  is depreciating is  something which should be concerned about.

How naira has been falling since Buhari time to Tinubu time is very alarming but the fall have reduced. I still do not care about that at all, holding bitcoin is better if you can NCA when the price of bitcoin is low. I just make sure I do not do blind investment and bitcoin has been paying me.

Well, you are right but there are some things one may consider before making any decision. For you, you might think investing in Bitcoin is the best way for one to keep their funds, but you can't say that the same is true for another person, because Bitcoin has its own challenges that not everyone might be able to handle. So, I will advise that, instead of putting all their money in one place, it would be better to diversify their funds as both banks and Bitcoin have their own purposes to serve when the need arises. This will help them to make decisions that they won't later regret.

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

[Achalugo BTC]

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

[cocadalcan]

There is no way someone will not have money in the bank but almost all the money can be in bitcoin while only small percentage remain in naira. People should not also invest in bitcoin blindly, it has season.

That's true. But not everyone has this kind of mindset. They don't understand that everything has its own time and season, which means they have to be careful when taking any action, so that they don't invest blindly. That is why they ought to acquire the knowledge and understanding of Bitcoin investing, as that will help them understand the principles of Bitcoin and how to apply them during different market conditions. Also, awareness of the Bitcoin investment journey helps them to stay invested for the long term.

Does anyone invest blindly? Not at all at least I have not seen anyone who invested in Bitcoin without understanding. There is a type of trader who imitates experienced traders without understanding in the greed for high profits. Sometimes these new traders use most of their money in trading and panic and sell at a loss. To invest in Bitcoin you do not need to acquire high knowledge, if you have the knowledge to keep your wallet safe and have discretionary income you can gradually accumulate Bitcoin. You can acquire knowledge about the principles of Bitcoin while gradually accumulation and holding it.