Don’t or blindly totally trust an expert in bitcoin or any other investment.

[BitBakerr1]

My Niger people if someone who is an expert or very knowledgeable in a particular investment or business should introduce that investment or business to you, it’s wise to do your own research before committing money or time. No matter how trustworthy or an expert the person is,
you need to.

1. You need to understand how the thing you are investing in works.
I will advise anyone not to invest in what they can’t explain in simple terms.

2. You need to confirm or verify if actually what the person told you concerning the investment is realistic.

In conclusion you need to understand that even genuine experts can be wrong too.
Expertise increases the chance of good advice, but it does not eliminate risk.
The best thing na to combine respect for the experts knowledge and your own independent due diligence.

[Hypnotizer]

My Niger people if someone who is an expert or very knowledgeable in a particular investment or business should introduce that investment or business to you, it’s wise to do your own research before committing money or time. No matter how trustworthy or an expert the person is,
you need to.

DYOR is very crucial and that’s why you don’t trust only but also verify by doing the research, if you just jump onto any investment without proper research to know from A-Z in the investments just because a so called expert told you to do so then imo I consider you a bad investor.

I remember seeing in one interview with Dangote when he was ask about the advice he’ll give aspiring young investors or business men and he said, you should invest in any business whether your time or money without knowing that business completely.

With proper research before invest, one can avoid falling for wrong investments or even possible scams..

[Antidote47k]

This is legit one of the most expensive lessons people learn in investing.

I’ve seen people invest simply because a successful trader, business owner, or influencer recommended something. The real problem is that they end up borrowing someone else’s conviction without understanding the risks themselves.

A rule I’ve found useful is this: if I can’t explain in a few sentences how the investment is supposed to make me money, then I probably shouldn’t be putting my money into it.

Experts can shorten the learning curve for sure, but they can’t possibly get rid of uncertainty. At the end of the day, it’s your capital on the line, not theirs. That’s why due diligence isn’t a sign of distrust; it’s a sign of responsibility.

[Cityhunter34]

Those experts are just human beings like us, so there's a high possiblity of losing your assets if you don't do your own research. It's good that you said it openly because those "experts" are everywhere, not only in Bitcoin investment. Many people normally get carried away by this experts, which isn't advisable at all. Sometimes I used to wonder if people value their money or not. There's no sense in following someone's opinion without a proper knowledge and planning on how you're going to achieve your goals.

You need nothing but your own decision and knowledge in whatever you're doing so that you'll be able to know the risk involved and manage your investment in the long run without losing.

[Churchillvv]

Well this has always been my message to most people who are so one sided about bitcoin investment just because an expert (self acclaimed) figured out house his investment works for him so it doesn’t mean that the success in whatever investment is linear but however they have been able to convince people that success in the investment most be through one process, I agree with you that respect their knowledge but use your own intuition not to follow standards like someone without a mind of its own.

[Judith87403]

Well this has always been my message to most people who are so one sided about bitcoin investment just because an expert (self acclaimed) figured out house his investment works for him so it doesn’t mean that the success in whatever investment is linear but however they have been able to convince people that success in the investment most be through one process, I agree with you that respect their knowledge but use your own intuition not to follow standards like someone without a mind of its own.

Inasmuch as a it can be helpful to learn a thing or two from an experienced investor or trader, what most folks fail to understand is the fact that there can never be a universal or a one size fits all solution or strategy that guarantees consistent success. This is because everyone has their own unique circumstances, financial position, risk tolerance and financial goals, and these are what actually determines the kind of strategy an investor chooses and this is why it’s always important to think independently and DYOR.

[Gozie51]

My Niger people if someone who is an expert or very knowledgeable in a particular investment or business should introduce that investment or business to you, it’s wise to do your own research before committing money or time. No matter how trustworthy or an expert the person is,
you need to.

1. You need to understand how the thing you are investing in works.
I will advise anyone not to invest in what they can’t explain in simple terms.

Investment is risk just as life itself is also risk. So, maybe I might not say something slightly different from the responses that will come on the thread.

To what I quoted, I think what is important is to know the person you are investing with and also the trust you have in the person, and not invest in business because you can explain what the business is all about, most rich people can't explain certain businesses that they do but they go ahead to invest in it and get a trusted person as manager to run the business. For example I know of someone who invest in bitcoin through someone and he doesn't understand bitcoin. So what is needed is the trust to repose on someone. Not being able to explain your business investment shouldn't discourage investment ideas. What is needed is trust on a person to run the investment.

[Y3shot]

Bitcoin is an investment which you need to understand yourself and this can be considered as a self investment because it has to do witb wallet which you dont need to expose your seedphrase. When you think someone is an expert who can help you out in your investment,  if you are not being careful you can be victim of scam. In bitcoin investment without your own understanding their is no investment because when you rely on someone the investment wint be taking serious.

[AVE5]

Well said and our country people seriously need to take this message serious because most people who's regretting their actions on the motive of investments happened to be a cause of trusting others blindly.
In fact I've sighted this ugliness of people's mistakes going on and on before now which I've also illustrated some of helpful informations on this thread Do your proper investigation before investing on any firm or assets. which I recently posted in the other board.
Without having to repeat myself I'd recommend any beginner to go through it and safe yourself from fallen into wrong hands of investing into shitcoins or scams.

[nelson4lov]

DYOR is very crucial and that’s why you don’t trust only but also verify by doing the research, if you just jump onto any investment without proper research to know from A-Z in the investments just because a so called expert told you to do so then imo I consider you a bad investor.

I remember seeing in one interview with Dangote when he was ask about the advice he’ll give aspiring young investors or business men and he said, you should invest in any business whether your time or money without knowing that business completely.

With proper research before invest, one can avoid falling for wrong investments or even possible scams..

Everyone that got into bitcoin and crypto and are familiar with the DYOR term will be grateful they learnt about it. This is the reason why Ponzi schemes did very well in our country because very few people were actually doing research as almost everyone was focusing on the potential outcomes/rewards. Anyone that did detailed research being making any investment such as that would have saved themselves their capital.

Proper research before committing in any business or investment is well worth it.

[ejikeme24]

In conclusion you need to understand that even genuine experts can be wrong too.

Yes, I agree with you that some expert could be wrong too. But if you want to be sure of what you're being told then you have to consult other expertise that's if you don't want to make research, I believe they are even going to make the learning easier for you by explaining it in a layman understanding.

 That source/ site you're consulting could be wrong too. Remember those site are been managed by human beings too, even though they are using AI as a tool but those data/ informations they are giving out its from those  (experts) you think they are not trusted enough. I prefer learning from different expertise then after that I will now equate Thier informations to see if they are saying the same thing.

[Marykeller]

This is something most of us know and do, before we agree to invest our money in any given stuff, we must not fail to research it and have full knowledge of it.

It is so wrong if we fall into a pump and dump scheme when we actually believe in the long-term success of projects before they succeed.

The most significant investments that can provide such returns are Bitcoin, land, and shares. Projects that offer quick gains with a high ROI should be suspected and avoided completely

[SatoPrincess]

Any “expert” or person way dey give you professional advice go always tell you to do your own research before you make your decision because they want make you understand say no be them dey control the market. This na to avoid problems later on incase your expectations no come true.

[Chibit01]

Sometimes those who we see as experts and professionals from far have limit to where there knowledge ends they will explain something base how they read about it but have not practically test it out.

I could remember one incident last year where someone who claims to know much about crypto and was recommending what he believes to be good coins worth investing on don't even know the difference between token and coin, total supply and circulating supply, it was when I noticed him mixing everything up i walked out before I get mislead.

[Makus]

Trusting an expert when it comes to Bitcoin investment or any other investment without doing your own research is absolutely wrong because you need to understand these things for yourself before you get involved. There are lots of people that started investing in Bitcoin because of someone else and now they don't understand the basics, if anything goes wrong they ask someone else what step to take or what to do but this doesn't make any sense. Don't trust others when it comes to your personal decisions, you might end up making mistakes.

[PhilosopherKing]

There is nothing wrong if person trust what an expert says because many people today enter bitcoin because they decided to trust what their friend told them to do. But when trust person also don't forget that it is good to do your own research. Expert will not teach you everything, they will just help person with some of the basic knowledge of the investment ,

this is why doing research is very good, because it will help person to understand that thing the more and when you understand it you can be able to do well in it.