How can Nigerian learn Bitcoin without falling for Ponzi Schemes.

[God Tim]

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.

As a newbie I'm i think I will be very careful on how to make transaction because I have no idea about it and I need to seek help from the senior mens who have more idea about it, I think people who have be on the forum for so long have much more to explain to us about the Ponzi scheme because for people lyk me I just want more Ideas about and brief discussions, see in few words I feel a newbie should really take note when inviting in bitcoin and to much careful and always abide by the rules of investing.

[DubemIfedigbo001]

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.

We are only very lucky to be here and have the first-hand knowledge of what bitcoin really is, the right channel to buy it and how to securely hold it in our self-custody wallets. There are various scammers who pose as exchanges and shill their investment sites to unsuspecting people, and those people buy bitcoin through those sites thinking they invested and expecting returns but never knew they just enriched a scammer.

There are illiterate and yet unfortunate ones who got deceived by what they saw on social media or who got information from less informed people and ended up investing into shitcoins or investment sites instead of bitcoin.

In case you don't know, there are shitcoins that have name variations with bitcoin e.g MrBTC, BabyBTC, MiniBTC e.t.c, if you are naive, you can easily fall for those worthless shitcoins thinking you are investing into BTC.

Even while Researching as a total newbie, you can still land into the wrong information. Ignorance is a very deadly weapon against success.

[Tungbulu]

As a newbie I'm i think I will be very careful on how to make transaction because I have no idea about it and I need to seek help from the senior mens who have more idea about it, I think people who have be on the forum for so long have much more to explain to us about the Ponzi scheme because for people lyk me I just want more Ideas about and brief discussions, see in few words I feel a newbie should really take note when inviting in bitcoin and to much careful and always abide by the rules of investing.

Apparently you really don’t need to be a senior man on the forum, a tech savvy or something to be able to tell the difference between a ponzi scheme and a potential investment, or how to make transactions. I’m not saying you should seek for guidance from experienced people, all I’m saying is that you can’t always depend on someone else, there are oceans of knowledge and learning tools online that you can easily have access to. Do your due diligence and maybe you can seek guidance wherever you don’t seem to understand.