How can Nigerian learn Bitcoin without falling for Ponzi Schemes.

[Joy- maker]

What you need to understand is that there is no free Bitcoin anywhere, so any platform promising you free Bitcoin is a scam. Mind you, it's not that difficult to identify a ponzi scheme, any platform promising you free Bitcoin or unrealistic returns on your investment without a legitimate revenue is a red flag so avoid them.

Instead of putting your energy into looking for platforms that will offer you free Bitcoin or unrealistic returns, why not focus on the ongoing accumulation of Bitcoin and accumulate it little by little, and before you know it you have accumulated a large amount of Bitcoin to hold for the long term.

[osasshem]

Speaking on avoiding Ponzi by newbies is simply;
1. Not to have the mindset of making large profit from the market within a short period of time.
2. Knowing that long term investment should be a priority when it comes to Bitcoin investment, otherwise the result might not be promising in a short time.
3. Know how to make your purchase yourself, and not wanting to give your money to someone to help you purchase. The system is free and open for everyone to carry out the process. Anyone who tells you to bring money so they can buy for you, bro/sis run away, that's is clear scam/Ponzi in plain view.

[sokani]

Ponzi schemes are different from Bitcoin investment, but the reason why some people fall for Ponzi schemes while learning about Bitcoin is greediness. When someone is greedy, they are more likely to fall for scams because they may be willing to take unnecessary risks, even when they know the truth. That is why many newbies easily fall for scams that they could have avoided.

I think some people sef dey misunderstand bitcoin and ponzi scheme. Because dem participate in a ponzi scheme wey require Bitcoin as a means of payment and they eventually scam them, them go dey go reason say Bitcoin nah ponzi. I don come across stories like that, but e no dey correct. Bitcoin no be ponzi. Bitcoin nah just a digital currency like every other currencies wey scammers fit use pull off the scams.

[Cryptoprincess101]

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.

This is not only an issue with newbies but most investors too because there are people who spent years holding their bitcoin but they suddenly saw a coin that is being hyped and of course the coin is rising rapidly and they decide to invest with the mindset that if they make profits from it they will use it to buy back bitcoin but in most cases they will encounter losses and end up not having any bitcoins again. Greed is not good as an investor, and if you want to hold for the long term you don't need to be distracted by any coin that is increasing very high because you must surely be tempted to sell your bitcoins to buy it so that you cam make larger profits. Just keep up with the amount you are holding even when it yields only little profits, it's better than being greedy and lose everything.

[Different patterns]

Ponzi schemes are different from Bitcoin investment, but the reason why some people fall for Ponzi schemes while learning about Bitcoin is greediness. When someone is greedy, they are more likely to fall for scams because they may be willing to take unnecessary risks, even when they know the truth. That is why many newbies easily fall for scams that they could have avoided.

I think some people sef dey misunderstand bitcoin and ponzi scheme. Because dem participate in a ponzi scheme wey require Bitcoin as a means of payment and they eventually scam them, them go dey go reason say Bitcoin nah ponzi. I don come across stories like that, but e no dey correct. Bitcoin no be ponzi. Bitcoin nah just a digital currency like every other currencies wey scammers fit use pull off the scams.

Yeah, you talk well, seriously people need to understand this, just because scammer you use bitcoin scam you, doesn’t mean you should com to conclusion say bitcoin nah Ponzi scheme. because I com dey notice am say people judge bitcoin based on their previous experience with people who use bitcoin to scam them. but for me I don’t blame scammer sometimes because some people like waiting go just bring them fast money without giving a platform a second thought or study the platform first to understand if it really genuine or fake.

[knowngunman]

What you need to understand is that there is no free Bitcoin anywhere, so any platform promising you free Bitcoin is a scam. Mind you, it's not that difficult to identify a ponzi scheme, any platform promising you free Bitcoin or unrealistic returns on your investment without a legitimate revenue is a red flag so avoid them.

Instead of putting your energy into looking for platforms that will offer you free Bitcoin or unrealistic returns, why not focus on the ongoing accumulation of Bitcoin and accumulate it little by little, and before you know it you have accumulated a large amount of Bitcoin to hold for the long term.

Yes, I agree with you. No free bitcoin anywhere, you have to earn them. But let consider the fact that Op is talking about newbies and to be honest, some of them don't know how to verify a legitimate platform with a legitimate revenue. It might be easy for us to identify a ponzi scheme when we see one but newbies don't have that experience yet. They see platforms offering high returns as an opportunity to earn more not knowing it's a red flag.

My simple advice for them is to keep profit aside from the beginning. Anything related to profit, free bitcoin or double your investment, they should stay away from them and focus on just accumulation until they understand the game very well. With time, once they understand the game they'll naturally know how to spot a ponzi scheme themselves unless they allow their greed to make decision for them.

[Silverstonez]

First of all, don’t allow yourself to be deceived, because there is no such thing as free bitcoin. Secondly, avoid any platform promising unreasonable returns.  However, some platforms generate genuine revenue and maintain reasonable profit margins. This is why you should conduct a proper research, verify a platform credibility and understand the risks involved before investing your money. The reason why most people fall victims to scam is because, they are often too eager to make quick money within a short period of time.

[POPOLUV]

I'm just coming across this thread today and when i go through some opinions from different investors in the comments, i just laughed because had an experience from some of my colleagues when i initiated Bitcoin as a topic among ourselves, i was shock to see that people prefer Ponzi Scheme to Bitcoin, reason being that Ponzi Scheme starts giving out what you invest on a daily basis and the patient to dangle  the processes of building up their Bitcoin portfolio, and even as i try to give then reason why Ponzi Scheme should not be what we should put hope, and even though the both also deal with risk, i made up my mind never to go back on Ponzi Scheme again, because i go through hell looking for the right investment to hold on to, it is very hard to see any investors trying to complicate things here, when they knows the truth about Ponzi Scheme and that of Bitcoin, but a beginner will always means things up because they are yet understand what Bitcoin is made up, and with the experience some individuals has go through Ponzi Scheme, they jump into conclusions that all investments are the same thing, so any Nigerian that can learn Bitcoin falling for Ponzi Scheme, are those that has experience on how Ponzi Scheme end their life saving with a week of investment.

[NewRevelation]

I'm just coming across this thread today and when i go through some opinions from different investors in the comments, i just laughed because had an experience from some of my colleagues when i initiated Bitcoin as a topic among ourselves, i was shock to see that people prefer Ponzi Scheme to Bitcoin, reason being that Ponzi Scheme starts giving out what you invest on a daily basis and the patient to dangle  the processes of building up their Bitcoin portfolio, and even as i try to give then reason why Ponzi Scheme should not be what we should put hope, and even though the both also deal with risk, i made up my mind never to go back on Ponzi Scheme again, because i go through hell looking for the right investment to hold on to, it is very hard to see any investors trying to complicate things here, when they knows the truth about Ponzi Scheme and that of Bitcoin, but a beginner will always means things up because they are yet understand what Bitcoin is made up, and with the experience some individuals has go through Ponzi Scheme, they jump into conclusions that all investments are the same thing, so any Nigerian that can learn Bitcoin falling for Ponzi Scheme, are those that has experience on how Ponzi Scheme end their life saving with a week of investment.

It's just people's mindset, if not, Bitcoin investment is a totally different thing from Ponzi schemes. I mean, the difference are very glaring. Invest today and make gain tomorrow if very different from buy bit by bit now, and HODL fro long term, if you HODL for more years, there is probability that it will climb. Aren't they two different scenarios.

People just want it fast, forgetting that real things don't come easy. It's takes time to mature your investment and build your portfolio. Even in real life or other investments, it's needs time to grow and mature. You can't get in today and want ×2-3 of your deposit, from where if I may ask. From the topic, people can actually do there Bitcoin investment without falling for Ponzi. It's just people's mindset that ruins them after all.

[Eldestyoung]

I think one major reason many Nigerians fall for Ponzi schemes is the mindset they have when entering crypto, most people don’t come into the space becaue they want to understand Bitcoin or learn how it works, they come because they have heard stories of people making millions from crypto and they want to make the same money, this makes them vulnerable to platforms promising quick and guaranteed profits.

I believe the first step should be to change this mindset, before investing, take time to understand Bitcoin, learn the risks and know the difference between Bitcoin and other projects using the crypto name, not every crypto opportunity is genuine and nobody should expect guaranteed daily returns. Sometimes it better to take things slowly, learn properly and protect the little money you have than rush into an opportunity because of greed or fear of missing out.