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.

[JimaGod]

As a newbie coming up, we need to be extremely careful with what we opposed in the system. Ponzi schemes are everywhere and most of them tend to look more legit than the appearances and the approaches coming in is definitely something we can see. Learning about Bitcoin is just an easy target for everyone. It's not difficult but the ignorant ones who are too lazy to understand the game in hand will always find it challenging and making back to back loss.

Take a note about the strategic formula to exert when it comes to Bitcoin. Nigerians who refused or decline learning will always learn the hardway. You will ask yourself, what's the hardway? The back to back loss and insufficient momentum or drive to push further in the market.

[Agbe]

The best way to learn about Bitcoin without falling into ponzi schemes is learning from the right sources, bitcointalk is one of the best forums to learn everything there is to know about cryptocurrency not just bitcoin alone. There are people that have invested wrongly in bitcoin and ended up getting scammed in the process because they didn't take out their time to learn properly and get their informations from the  right sources.

[Makus]

I learnt about bitcoin from the forum so if I would recommend anything it's based on what I know and what helped me so far. This is the best platform you can learn about cryptocurrency with ease. when it comes to buying Bitcoin and investing some people go about it the wrong way, they get scammed in the process of trying to invest their Bitcoin because they didn't get their informations from the right sources. One advantage of being on the forum is that you can interact with others while learning and also get answers to important questions you might have.

[gracreavix]

The easiest and safest way wey Nigerian fit learn Bitcoin without falling into Ponzi na to intentionally invest for knowledge..  Plenty people dey rush go where dem promise fast profit, instead of trying to understand wetin Bitcoin really be and how e dey work..  Na so scammers dey catch people..

If person fit, e good make e pay for correct training, especially physical class or meetup. For physical class, you go see real people, ask real questions, and learn the basics like wallet, private key, exchange, and how market dey move. Ponzi people no dey teach, dem only dey promise sure returns..

Once you don understand Bitcoin well, nobody go fit deceive you with double your money in 7 days story..

[God Tim]

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.

Well don’t get me wrong or get my words mixed up well as for such newbie that I’m it should sould more learning experience people who have experienced in bitcoin accumulation to put you through before investing, well am really not changing the topic i feel having someone to teach you how the ponzi system works I think for a start it not bad….well I just said it from my own perspective not sure in it but I feel not totally dependent on someone it what is not allowed if that what you are trying to pass now i get the jet…..

[Tungbulu]

Well don’t get me wrong or get my words mixed up well as for such newbie that I’m it should sould more learning experience people who have experienced in bitcoin accumulation to put you through before investing, well am really not changing the topic i feel having someone to teach you how the ponzi system works I think for a start it not bad….well I just said it from my own perspective not sure in it but I feel not totally dependent on someone it what is not allowed if that what you are trying to pass now i get the jet…..

Think you’re the one who hasn’t really understood me. I’m not by any chance saying it’s bad or wrong for newbies to try to seek help or clarification from more experienced people in the investment field, in fact it’s advisable to do so. All I’m tryin to make you understand is that, inasmuch as it’s advisable to seek help as a newbie, one should not depend solely on the assistance and help of others, it is in fact even more commendable to DYOR. Also in a case where you’ve got no one that’s willing to assist you at the moment, would you waste your time to keep on searching or waiting until you find one??
There’s nothing wrong with getting started on your own as a newbie, sure you’ll make mistakes along the way but that’s the best part of the journey because those mistakes are exactly what shapes and molds you into the experienced investor that you plan to be.

[Orpichukwu]

If you can kill your greed of wanting to make it real fast, then your chance of getting into the wrong hands will reduce. If you check the complaints of those who have been victims of Ponzi schemes, they are always in search of what will give them money, or they are being introduced to it, and they don't ask questions. One must learn how to ask questions and have it in the back of their mind that something that sounds too good to be true should be considered a scam, and they should stay away from it.

[rachael9385]

I remember few years ago when my coworkers got scammed, it was actually an investment fraud, they were told that if they invested bitcoin on a particular platform within a few weeks they would get x3 of their investment but it all turned out to be a scam. you can learn how to identify these schemes by being on forums like bitcointalk where valuable informations about bitcoin are being shared

[Mate2237]

One way that a newbie can avoid falling into ponzi scheme that will take their monies away is that they should know that Bitcoin accumulation is not about making quick money. Alot of person's who has not learned enough about Bitcoin accumulation Bitcoin believes that by getting involved in Bitcoin accumulation that, they can make money quickly this is the orientation system about alot of newbies but this is not true.Bitcoin doesn't guarantee quick money rather Bitcoin helps to build wealth gradually.



Many people has lost money because they wanted quick money. So if any newbie is to learn about Bitcoin with a view to mastering it then they need to know that good things takes time.

[SatoPrincess]

Remember when the whole country was caught in that play-to-earn frenzy. Everyone - young and old was on telegram doing these “tap tap tap” games and tasks. They didn’t care much about anything else as long as it was “free”, no research was done on the project or the team, they were only concerned about the potential profits to be made when the project went live. That’s the problem many face when investing in bitcoin, they don’t want to risk their money, and when they do, they expect immediate and unrealistic profits.