Hodl (Naija)

[Karl_3000]

Bitcoin price

₦126,709,646 ($89,257)

[Dr.Bitcoin_Strange]

We don't have much Civil Servants in the forum but we have more self-employed youth here. And self-employed is like hand to mouth on this current economic structure in the country. So for someone to set an investment plan on bitcoin foe him sef is not an easy thing to do.  But if person na big business person den him go fit buy bitcoin weekly. As for me I don't buy bitcoin weekly but I buy whenever there is money.

I think you are right, there are more of self employed youths here than the number of civil servants, some self employed youths that their business is doing well can still be investing weekly and like you said if someone has a big business they can be investing as always as they want. Some civil servants receiving the lowest minimum wage might not even be able to invest on Bitcoin because their pay is small and not even enough to give them their needs.

[Plutomanian]

I understand the current situation in the country very well, so I have been buying Bitcoin with Naira for a long time, which was my pre-planned decision. However, before investing in Bitcoin, every Nigerian should have a source of income and whatever money is left after meeting basic expenses and needs can be invested. You are right that dividing the monthly income into four parts and investing one part seems reasonable and it is right that allocating a part of the discretionary income to Bitcoin investment can be an easy way for us. However, everyone should have a financial plan to manage this investment process properly and in my view, holding should be for the long term.

What aspect of hodl don't we understand? We grow our patience and become very crucial towards our goals. What do tell an average Nigerian about Bitcoin? Don't invest if you're ready to take the risk and always invest with what you can afford to lose. The market can be very funny at times  and ensure you're ready because nobody is coming to save you when the long bearish market comes.

First of all, have a stable source of income before planning to explore in cryptocurrency because it's filled with u0 and down. None of us can survive the market if it comes for us. A job or profession will serve us because when we lose, we have nothing to bother about other than sticking to our current plan and ensuring we don't fall.

[Karl_3000]

Bitcoin price

₦126,984,605 ($89,477)

Happy hodling

[laijsica]

We don't have much Civil Servants in the forum but we have more self-employed youth here. And self-employed is like hand to mouth on this current economic structure in the country. So for someone to set an investment plan on bitcoin foe him sef is not an easy thing to do.  But if person na big business person den him go fit buy bitcoin weekly. As for me I don't buy bitcoin weekly but I buy whenever there is money.

I think you are right, there are more of self employed youths here than the number of civil servants, some self employed youths that their business is doing well can still be investing weekly and like you said if someone has a big business they can be investing as always as they want. Some civil servants receiving the lowest minimum wage might not even be able to invest on Bitcoin because their pay is small and not even enough to give them their needs.

It would be right for any professional employee or self-employed person to have a weekly investment plan. Some folk think that the tendency for minimum wage employees to invest is tantamount to a joke but I can see that there is a small and confident segment of them who are setting aside funds from their minimum income and discretionary income for investment because they not only prioritize the present but also the future. Poor investors who used to deposit Bitcoin 10 years ago have now become wealthy investors.

[Oshio-man]

Holding bitcoin without accumulating your bitcoin, it will not lead you to a greater opportunity to earn good income in the future, I know we have long term holding and short term holding but they don't earn the same amount of income in their holding because long term holding always have a huge income target which is the reason they prefer long term holding than short term holding, since I discovered that bitcoin is the king among other cryptocurrencies, I chose to hold bitcoin for five years before looking into the market to know what to do either to trade or continue holding because there will be more opportunity to increase my income if I continue holding bitcoin.

[Charles-Tim]

Holding bitcoin without accumulating your bitcoin, it will not lead you to a greater opportunity to earn good income in the future

What did you mean by this holding bitcoin without accumulating bitcoin (will not lead to a greater opportunity)? It will be good if you explain better.

since I discovered that bitcoin is the king among other cryptocurrencies, I chose to hold bitcoin for five years before looking into the market to know what to do either to trade or continue holding because there will be more opportunity to increase my income if I continue holding bitcoin.

I prefer to hold bitcoin than to trade bitcoin. Even after in long term, I still prefer to hold bitcoin instead of trading it. As for me, there are losses in trading but holding is a different story.

[DiMarxist]

When it comes to bidding and the percentage people should allocates for the purpose of Bitcoin accumulation is a personal personal decision which is at the discretion of the person involved. Before investing in Bitcoin you have to take a lot of things to and the first thing is what is your income either on a monthly or even on a weekly basis, the second question is what are your expenses for the month before deciding to allocate money for the purpose of Bitcoin holdings. This is the reason why money that is ment for Bitcoin investment should always come from your discretionary funds because it will not affect your day to day activities.

[Sunshine1525]

Holding bitcoin without accumulating your bitcoin, it will not lead you to a greater opportunity to earn good income in the future

What did you mean by this holding bitcoin without accumulating bitcoin (will not lead to a greater opportunity)? It will be good if you explain better.

since I discovered that bitcoin is the king among other cryptocurrencies, I chose to hold bitcoin for five years before looking into the market to know what to do either to trade or continue holding because there will be more opportunity to increase my income if I continue holding bitcoin.

I prefer to hold bitcoin than to trade bitcoin. Even after in long term, I still prefer to hold bitcoin instead of trading it. As for me, there are losses in trading but holding is a different story.

What he meant is that it's better to buy consistently with the DCA strategy than just buying once without buying again, a lot of beginners have missed buying Bitcoin when it was cheaper and the best way they can maximise their opportunity of getting better profits in the future when the value of Bitcoin increases is to buy consistently, so his statement is correct.

Well history has shown that the longer some holds Bitcoin the more the person stands a good opportunity generate more of it, so if you can be determined to continue holding even when you reach a position where you can sell some portions of it, it's a nice idea.

[Charles-Tim]

What he meant is that it's better to buy consistently with the DCA strategy than just buying once without buying again, a lot of beginners have missed buying Bitcoin when it was cheaper and the best way they can maximise their opportunity of getting better profits in the future when the value of Bitcoin increases is to buy consistently, so his statement is correct.

Who posted that what he posted is not correct? I did not post anything like that. Only what I posted was that he should explain before if I am not getting him right.

Yes, Naira Cost Average (NCA) is a very good strategy. But there are more other good strategies which can also include averaging and lump sum.

[Karl_3000]

Bitcoin price

₦126,640,902 ($89,254)

Happy hodling

[AGogi2003]

Holding bitcoin without accumulating your bitcoin, it will not lead you to a greater opportunity to earn good income in the future, I know we have long term holding and short term holding but they don't earn the same amount of income in their holding because long term holding always have a huge income target which is the reason they prefer long term holding than short term holding, since I discovered that bitcoin is the king among other cryptocurrencies, I chose to hold bitcoin for five years before looking into the market to know what to do either to trade or continue holding because there will be more opportunity to increase my income if I continue holding bitcoin.

Investing in bitcoin for long term is the best for everyone that really what to get huge profit from Bitcoin investment, people that are investing in bitcoin for short term won't get what long term investors will get. So when investing you just need to plan and think well and see which one is preferable for you, anyone have is want choice of investing in short or long term. Getting your weekly payment you can easily get some percentage to invest but you need to show that you don't have any bills to pay off, before you can be investing from your weekly payments and gradually your investment will be growing little by little and later you will see your funds are much in you investment. you will just be patient and wait for the long term and get a good benefit in it.

Some facing issues and make it difficult for them to invest in long term and trying to invest in a short term and probably lose some of there capital if he didn't go well and still sold there coins.

[Sunshine1525]

What he meant is that it's better to buy consistently with the DCA strategy than just buying once without buying again, a lot of beginners have missed buying Bitcoin when it was cheaper and the best way they can maximise their opportunity of getting better profits in the future when the value of Bitcoin increases is to buy consistently, so his statement is correct.

Who posted that what he posted is not correct? I did not post anything like that. Only what I posted was that he should explain before if I am not getting him right.

Yes, Naira Cost Average (NCA) is a very good strategy. But there are more other good strategies which can also include averaging and lump sum.

Well that's true, he was supposed to elaborate his statement so it doesn't mislead people into thinking otherwise, i had to take my time to read it severally before get the point he was making.

Im impressed with how you use (NCA) instead of (DCA) which is thd popular word for particular strategy, well it's still same thing since we use Naira instead of Dollar, however the dollar is a universal currency used by everyone though. Anyways, I think that it's best for beginners to use the DCA or NCA to maximise their accumulation that other strategy, it's more suitable for beginners.

[Alonso_]

Bitcoin price

₦135,490,407 ($95,250)

Does that price of bitcoin look expensive to you? Well I really think it’s possible in any way for you to buy bitcoin as much as you desire, because there is no possibility that you could actually hold this amount of bitcoins all at one instance, I could understand that the number is very large for you, but you can only buy bitcoin with the money you have available, and whatever amount you’re buying would determine how much bitcoin that you have in 1 or 2 circles considering what amount that you have been buying and stacking bitcoin.

You can only buy bitcoin with what money that you have available, you’re not advised to buy bitcoin with all your money instead you should buy bitcoin with your discretionary income or leftover money that you can always afford to loose that money so you eventually don’t get yourself into any mess, buying bitcoin more consistently is only possible when you have a discretionary amount available for buying bitcoin,

[PostQuantumBTC]

Bitcoin is really trying in this bear market, I expected it to be around $70000 by now but it is still above $87000 which is 1.45 times lower than the all time high. Bitcoin is showing itself already that the future will really be good, holding bitcoin now will be very good. If the price fall, buy more.

[Karl_3000]

Bitcoin went down to ₦124,173,973 ($88150) few hours ago.

Bitcoin price

₦125,189,622 ($88,871)

Happy hodling

Do not be discouraged but you can buy more.

[Tungbulu]

Bitcoin is really trying in this bear market, I expected it to be around $70000 by now but it is still above $87000 which is 1.45 times lower than the all time high. Bitcoin is showing itself already that the future will really be good, holding bitcoin now will be very good. If the price fall, buy more.

Do you really need the short term reaction of bitcoin price to know that the future will be good?
Are you holding for the short term or long term? If the latter, then there’s no point having to worry or bother much about what price level bitcoin sustains on for the short term. Historically, bitcoin has proven to be quite resilient and that’s where you should draw your motivation from, not the short term price point.

[Olatundespo]

Bitcoin is really trying in this bear market, I expected it to be around $70000 by now but it is still above $87000 which is 1.45 times lower than the all time high. Bitcoin is showing itself already that the future will really be good, holding bitcoin now will be very good. If the price fall, buy more.

Many experienced investors have taken a different stance on the Bitcoin price you have predicted and were expecting $150k or more. The bear market you are predicting has not yet started but it is not certain that it will go that low. As you plan your investments on whether or not to follow past price increases, always maintain a holding stance as the market is gearing up for a bull run.

[Versatile_choice]

We don't have much Civil Servants in the forum but we have more self-employed youth here. And self-employed is like hand to mouth on this current economic structure in the country. So for someone to set an investment plan on bitcoin foe him sef is not an easy thing to do.  But if person na big business person den him go fit buy bitcoin weekly. As for me I don't buy bitcoin weekly but I buy whenever there is money.

You're right about that, majority of those who are self employed find it very hard to invest in these current economy while there are some self employed who are investing regardless. Everything is just about planning, it true that the economy is very hard more especially for those that doesn't depend on government jobs or working under someone I mean, those who are self employed. but there's a way you would plan yourself that you won't be find it hard to invest or save, for example. if you have been spending a lot before, once you are planning to start up a business or Investment then you have to reduce your spending to enable you meet up your target.

[Halifat]

Bitcoin went down to ₦124,173,973 ($88150) few hours ago.

Bitcoin price

₦125,189,622 ($88,871)

Happy hodling

Do not be discouraged but you can buy more.

This is a very good encouragement because bitcoin is a long-term investment, I saw a tweet in Twitter now known as x that someone bought bitcoin for $50,000 for almost 12 years and now it's grow to 50 million dollar. Who will taught that $50,000 will turn into 50 million dollars. Honestly this is a very good opportunity for us, if you have money make use of this opportunity to accumulate more.