How can Nigerian learn Bitcoin without falling for Ponzi Schemes.

[Bishop Victor]

I’ve been pondering about this question for while now, how can a newbie  that wants to go into Bitcoin accumulation really avoid Ponzi schemes. But some certain things I have come to understand is making my belief on bitcoin firm and not thinking of deviating to another investment for the main time, as we all know, curiosity will not let us newbies to stick to investing rather we’ll want to try other mean of getting little profit which 95% of the time end up to be scam, but the funny part of it is that, we barely learn due to fact that we are fuel with greed and not knowing when to stop because we  have lost some money to these site and will want to get back lost fund.

With the little knowledge I’ve accumulated from this forum of which I’m still learning, I’ve learnt to focus more on long term goals  with Bitcoin accumulation rather than deviating to those shitcoin that only pump just to get attention and later it’s been rugged pulled.  Also how to manage my discretionary fund and how to allocate it into my Bitcoin investment via DCA method. At least, so far I have come to understand, that’s the most approachable method when it comes to Bitcoin accumulation and also ease you off the pressure of waiting for the Dip or stacking up funds for lump sum.

So far, this are the few ideas that have kept me going and I would also like those that are more advance than me here to drop their opinion on this thread so we newbies can all benefit.

[iBaba]

~~~

So far, this are the few ideas that have kept me going and I would also like those that are more advance than me here to drop their opinion on this thread so we newbies can all benefit.

Okay, let me put it this way, the easiest way for a newbie to avoid ponzi schemes is for them to first accept that real bitcoin accumulation is boring that is when you are accumulating bitcoin there are no such things like daily excitement, fast profits making or even promises of doubling your money. So once you are able to come into terms with this first reality as a feature of bitcoin accumulation, then it becomes easier for you to ignore platforms and people who will bump into your DMs or call you to join promising quick returns like that because it is one of the features of ponzi schemes to always bank on your urgency and emotional pressure.

So as a newbie, what i will advise you to focus on only for now is bitcoin using the DCA approach to accumulate and separate your long term savings from the money you use for experiments. Unlike trading maybe, bitcoin accumulation does not necessarily need much of your creativity to work in your favour rather what it requires is for you to be patient and consistent. Also to let you guys know, bitcoin does not require you to trust any person, any website or for you to accept any form of promise, whenever you are ready to accumulate, just go online or come to this platform and search for the available ways you can buy bitcoin, move it to your wallet and repeat the process again and again anytime you want to accumulate more and it is that simple.

[Donk1]

Well I like to believe that as a crypto enthusiast especially when it comes to newbies indeed, you don't just rush into any altcoins because you hear people are making profit. Basically you might end up in a pump and dump scheme which if I may say, most newbies still don't learn from it.​That's why for me the best way to avoid any Ponzi schemes as a newbie is to take your time to study the crypto space very well, Do research to know what you should do and what you shouldn't, because with the beliefs of fake news and so on, many newbies have lost their assets unknowingly to them ..​And when it comes to Bitcoin yeah it's a unique and profitable asset and I like to believe the DCA strategy is a good call of investment especially for newbies as it would help you in your accumulation journey and as time goes you will gradually gain experience of how the the market works. That way even if you want to sell you wouldn't sell at a loss or take any irrational decisions.

​Overall like the popular saying Not your keys, not your coins.Any site that promises you daily return when you invest  your bitcoin either big profit or small, do not be drawn by it because it's a scam basically The real Bitcoin accumulation takes place in your wallet, not an exchange or anyother apps or site. That's just it true Bitcoin accumulating requires patient, consistency, research, keeping up with the news, and a good psychology. That's all for me

[Hypnotizer]

 

I’ve been pondering about this question for while now, how can a newbie  that wants to go into Bitcoin accumulation really avoid Ponzi schemes.

How? If you as a newbie wants to accumulate bitcoin..you’re supposed to DYOR and personally I don’t see any way you can fall for Ponzi scheme if you really want to accumulate bitcoin, the only way you’ll lose money as a newbie wanting to accumulate bitcoin is if you’re scammed. But if you want quick money then be ready to fall for Ponzi schemes.

But some certain things I have come to understand is making my belief on bitcoin firm and not thinking of deviating to another investment for the main time, as we all know, curiosity will not let us newbies to stick to investing rather we’ll want to try other mean of getting little profit which 95% of the time end up to be scam, but the funny part of it is that, we barely learn due to fact that we are fuel with greed and not knowing when to stop because we  have lost some money to these site and will want to get back lost fund.

If you are new in the crypto space..it is much better not to invest in any altcoins, investing in altcoins are just like gambling it is better you focus only in bitcoin investment. As a newbie you need discipline, kill greed..don’t be a fast money chaser, if not you’ll learn the hard way.

[Floczy]

I know of a Spanish saying that goes like this "La curiosidad mató al gato"  Meaning "Curiosity killed the cat".

A common problem with newbies is the admonition to stay out of every get rich quick investment opportunity. There is a stage to everything. First focus on your Bitcoin investment, it will get to a point where you can start diversifying into other asset.

Being curious as a newbie should end in asking important questions that will be of benefit to your investment. Newbies like you don't know that altcoins and hyped projects are only there to exploit undisciplined curious minds. They always appear with flashy roadmaps, big APYs, buzzwords, influencers, and emotional stories to persuade newbies into investing in their project, at the end, all the newbies get burned.

[Jamestown70]

Re: How can Nigerian learn Bitcoin without falling for Ponzi Schemes.

The answer is the same for Nigerian or no Nigerian...

Chose for the start only free systems where you have not to make deposites.

On my site you can learn not only about crypto but as well how to withdraw your little cash you have earned by winspiral.

For example:
uploading the BCRM wallet is exactly the same way than for BTC because the Bitcoin RM is a fort from Bitcoin you are talking about.

And do not believe I want attract you in a Ponzi Scheme...

If I understand correctly, this user is asking for guideline on how to avoid Ponzi schemes while accumulating, so he is not lured to partake in those shitcoins that will deviate his attention from Bitcoin investment, I was expecting you’ll tell him to avoid all short term project and focus on a long term goal by trying to accumulate more bitcoin. But you’re recommending this user to the same thing he is  trying to not falling into. Seriously…

[Merit.s]

A newbie should see altcoins and memecoin as pump and dump scheme so that they wouldn't think of jumping into them. That was how I was able to neglect altcoins distraction because I was fully on a thread that talks more about bitcoin long-term success and bashes altcoins.

When you feel that to make profit in bitcoin will take time, that's what will trigger you to invest in shitcoin to get rich quick. Have a bitcoin long-term investment mindset and target to accumulate.

[Fiatless]

A newbie should see altcoins and memecoin as pump and dump scheme so that they wouldn't think of jumping into them. That was how I was able to neglect altcoins distraction because I was fully on a thread that talks more about bitcoin long-term success and bashes altcoins.

When you feel that to make profit in bitcoin will take time, that's what will trigger you to invest in shitcoin to get rich quick. Have a bitcoin long-term investment mindset and target to accumulate.

I would agree that the majority of altcoins are pump and dump, but some of them are exceptional.  Some altcoins have been around for some time now.

However, I wouldn't advise a newbie to invest in altcoins because they are complicated to understand. You need to have acquired some level of knowledge about the altcoin industry before investing. Newbies would find Bitcoin more convenient since it is easier to understand and has a high reputation.

[Dr.Bitcoin_Strange]

As a newbies who is just starting off your Bitcoin journey, you can also make a search of the most common mistakes that newbies made during their journey into Bitcoin, then learn from the results you get, also search for how to avoid falling for Ponzi schemes with your Bitcoin, then learn from the results you get.

Top Mistakes Beginners Make When Investing in Bitcoin

Cryptocurrency scams: 8 crypto cons to avoid

The above guides are helpful but as a newbie, if you are curious and don't want to fall into any Ponzi schemes or scam, you will do more research on your own.

[Jubilee58]

Based on your topic, I believe it is possible to invest in Bitcoin without falling for ponzi scheme even as a newbie.
As someone who is new in bitcoin investing, don't just invest in bitcoin ignorantly, ask questions and ensure you make proper research before going into bitcoin investment.

Meanwhile, before I go further we should understand what ponzi scheme is before going further to list the possible ways one can actually avoid it.

Ponzi schemes are scam website promising investors very high return on their investment. However there are measures you can take to actually avoid it

1. As a newbie ensure to avoid Bitcoin unsolicited investment

2. Ensure to avoid Bitcoin investment giving you to invest very quick

3. Avoid any bitcoin investment with lack of clear information.

4. Avoid bitcoin investment and platforms promising you high return on your investment.

5. Make your research and ensure you invest in Bitcoin with reputable exchanges and platforms and ensure you avoid investing in bitcoin with unknown and unreputable platforms.

Many people, especially newbies have fallen victim of scam and is as a result of lack of sensitization, but I believe with the help of this platform and clear Information like these you can actually avoid them.

[Bishop Victor]

Well I like to believe that as a crypto enthusiast especially when it comes to newbies indeed, you don't just rush into any altcoins because you hear people are making profit. Basically you might end up in a pump and dump scheme which if I may say, most newbies still don't learn from it.​That's why for me the best way to avoid any Ponzi schemes as a newbie is to take your time to study the crypto space very well, Do research to know what you should do and what you shouldn't, because with the beliefs of fake news and so on, many newbies have lost their assets unknowingly to them ..​And when it comes to Bitcoin yeah it's a unique and profitable asset and I like to believe the DCA strategy is a good call of investment especially for newbies as it would help you in your accumulation journey and as time goes you will gradually gain experience of how the the market works. That way even if you want to sell you wouldn't sell at a loss or take any irrational decisions.

​Overall like the popular saying Not your keys, not your coins.Any site that promises you daily return when you invest  your bitcoin either big profit or small, do not be drawn by it because it's a scam basically The real Bitcoin accumulation takes place in your wallet, not an exchange or anyother apps or site. That's just it true Bitcoin accumulating requires patient, consistency, research, keeping up with the news, and a good psychology. That's all for me

The best way for a beginner to avoid Ponzi schemes is to slow down and properly study the crypto space. Take time to research what to do and what to avoid. With the spread of fake news and misinformation, many newcomers have lost their assets without even realizing how it happened.

[I_Anime]

One the thing that would help avoid any for of Ponzi scheme ,is having the right knowledge.  It will help you to understand what is true and what is fake , but still some users still fall as victim all because of greed of wanting more money , that’s why once many hear of high promising Ponzi scheme that would lure you with high percentage return and sometime some folk will noticed that is Ponzi but they will still go ahead with it trying to play smart but still after everything they would still fall as victim .

[Ndabagi01]

So far, this are the few ideas that have kept me going and I would also like those that are more advance than me here to drop their opinion on this thread so we newbies can all benefit.

Firstly, what newbies should do to avoid Ponzi scheme is to not fall for anything that promises big reward within a short time. Wealth is being built overtime and not overnight, so don’t fall for such cheap scams. As cheap as these scams can be, newbies without prior knowledge of it can still fall into these traps even in this technological era that we are already in.

As a newbie, if you’re eyeing yourself on making quick profit and a greedy person, then you’ll really fail woefully in your investment journey. Bitcoin investment is not for the weak and untrustworthy ones, if you can’t hold for a long term, then you may never find profit making through this investment worthwhile of even waiting.

[DaNNy001]

A lot of people have been scammed and are still getting scammed because of their lack of knowledge and also greed...if you are actively involved in the forum you would know the sources to buy Bitcoin and also how to invest...some newbies don't usually follow the normal accumulation process of bitcoin, they small victims to people that tell them to invest in strange platforms to get x4 of what they invest.

[Fiasem20]

How to learn bitcoin as a Nigerian without falling for Ponzi schemes is by being focused on your financial goal,when you’re focused on your goals you’ll hardly be distracted by those pump and dump schemes in the market.If your financial goal is to accumulate bitcoin for the long term,work toward it and don’t create room for any project that promises unrealistic returns,though bitcoin investment isn’t a get quick investment that’s even more reason why one should be disciplined and patient to achieve their long term goal.Make bitcoin your top priority among those shitcoins in the crypto space.

[Skydrill]

I’ve been pondering about this question for while now, how can a newbie  that wants to go into Bitcoin accumulation really avoid Ponzi schemes. But some certain things I have come to understand is making my belief on bitcoin firm and not thinking of deviating to another investment for the main time, as we all know, curiosity will not let us newbies to stick to investing rather we’ll want to try other mean of getting little profit which 95% of the time end up to be scam, but the funny part of it is that, we barely learn due to fact that we are fuel with greed and not knowing when to stop because we  have lost some money to these site and will want to get back lost fund.

With the little knowledge I’ve accumulated from this forum of which I’m still learning, I’ve learnt to focus more on long term goals  with Bitcoin accumulation rather than deviating to those shitcoin that only pump just to get attention and later it’s been rugged pulled.  Also how to manage my discretionary fund and how to allocate it into my Bitcoin investment via DCA method. At least, so far I have come to understand, that’s the most approachable method when it comes to Bitcoin accumulation and also ease you off the pressure of waiting for the Dip or stacking up funds for lump sum.

So far, this are the few ideas that have kept me going and I would also like those that are more advance than me here to drop their opinion on this thread so we newbies can all benefit.

Just like they say, experience is the best teacher, I believe there people in this platform whom are experts or people whom have a bit of experience and better understanding about Bitcoin.

The truth still remains that if you want to excel then you have to learn and if you are really serious about your investment then you have to engage an experienced fellow and ask those vital questions on those areas where you may have made mistakes in the past, I believe this can help you avoid any scammer and their antics.

[Dechris_08]

That's something i understand most people don’t fall for scams because they’re stupid, but because they are greedy.

That greedy mindset is what scammers exploit.

Bitcoin rewards patience, not turning $10 to $100,000 within a day.

[Judith87403]

Your thinking already is in the right direction. The largest protection against Ponzi schemes is patience and simplicity. Stick only to Bitcoin, that is bought through an exchange that is well known or maybe self custody wallets. Anything that promises fixed returns, bonuses, or managed profits avoid it with all in you. When someone requires your trust more than your understanding, please step away.

DCA actually works as it takes away emotion, pressure in timing, and greed. Take a decision on an amount you are able to afford its loss, then automate it if it is possible, and do not touch it. Overlook hype cycles and fast flips, the reason is they are created to put discipline to test, then reward it.

Conviction on long term, curiosity that is controlled, and risk limits that is also strict beat  experience at all time.

[Bishop Victor]

Your thinking already is in the right direction. The largest protection against Ponzi schemes is patience and simplicity. Stick only to Bitcoin, that is bought through an exchange that is well known or maybe self custody wallets. Anything that promises fixed returns, bonuses, or managed profits avoid it with all in you. When someone requires your trust more than your understanding, please step away.

DCA actually works as it takes away emotion, pressure in timing, and greed. Take a decision on an amount you are able to afford its loss, then automate it if it is possible, and do not touch it. Overlook hype cycles and fast flips, the reason is they are created to put discipline to test, then reward it.

Conviction on long term, curiosity that is controlled, and risk limits that is also strict beat  experience at all time.

I also believe DCA is one of the most effective strategies because it removes emotions, timing pressure, and greed. Investing only what you can afford to lose and staying disciplined through hype cycles makes a big difference in the long run.

[Sonia_123]

I’ve been pondering about this question for while now, how can a newbie  that wants to go into Bitcoin accumulation really avoid Ponzi schemes. But some certain things I have come to understand is making my belief on bitcoin firm and not thinking of deviating to another investment for the main time, as we all know, curiosity will not let us newbies to stick to investing rather we’ll want to try other mean of getting little profit which 95% of the time end up to be scam, but the funny part of it is that, we barely learn due to fact that we are fuel with greed and not knowing when to stop because we  have lost some money to these site and will want to get back lost fund.

With the little knowledge I’ve accumulated from this forum of which I’m still learning, I’ve learnt to focus more on long term goals  with Bitcoin accumulation rather than deviating to those shitcoin that only pump just to get attention and later it’s been rugged pulled.  Also how to manage my discretionary fund and how to allocate it into my Bitcoin investment via DCA method. At least, so far I have come to understand, that’s the most approachable method when it comes to Bitcoin accumulation and also ease you off the pressure of waiting for the Dip or stacking up funds for lump sum.

So far, this are the few ideas that have kept me going and I would also like those that are more advance than me here to drop their opinion on this thread so we newbies can all benefit.

You have said it all, but in addition Since you are for bitcoin why not focus only on bitcoin why reasoning Ponzi, you should take off your mind from things like that don't be distracted of any other coins or tokens read to understand the difference between Bitcoin and other coins, then know what Bitcoin is and how to successfully invest without any problem, avoid the taught of wanting to make quick money .