why are you investing in bitcoins? to preserve value or increase profit.

[Coin_info]

I think Nigerians are more interested in avoiding the amount of money that they have been able to put together from losing its value first this has been the major driving factor for Nigerians seeking alternatives to hold instead of keeping the money in your bank accounts hence a major reason why I feel like Bitcoin and other cryptocurrency are being actively adopted by Nigerians as a way to preserve themselves from the failing economy. The reason why individuals in some other countries tend to invest is totally a different reason from the reason Nigerians invest i think, in some other countries where they have flourishing economies investors first consider that they are keeping away some of their income for the future because of the excess that they have in their possession, but for Nigerians the average Nigerian who do not have excess their first focus is not keeping away some from the excess they have but sacrificing a little from the little they have to ensure that the little they have does not lose more value than the little value it already has.

Are you investing from the little you have just so that you can preserve it from losing its value, or are you investing from the excess that you have so that you can have some for tomorrow? What is your major intention for investing Is it to make profit first or to prevent what you have from losing value? I know you may be wondering the difference, but the difference is that if your intention to invest is to make profit you will be concerned if what you've invested has not yielded any profit whatsoever, but if your intention to invest is to preserve the value of what you have already then you may not really be concerned if Bitcoin does not increase in value, your only concern will come when the value starts dropping rapidly, but if its value remains the same you will be okay.

[Majestic-milf]

I think Nigerians are more interested in avoiding the amount of money that they have been able to put together from losing its value first this has been the major driving factor for Nigerians seeking alternatives to hold instead of keeping the money in your bank accounts hence a major reason why I feel like Bitcoin and other cryptocurrency are being actively adopted by Nigerians as a way to preserve themselves from the failing economy. The reason why individuals in some other countries tend to invest is totally a different reason from the reason Nigerians invest i think, in some other countries where they have flourishing economies investors first consider that they are keeping away some of their income for the future because of the excess that they have in their possession, but for Nigerians the average Nigerian who do not have excess their first focus is not keeping away some from the excess they have but sacrificing a little from the little they have to ensure that the little they have does not lose more value than the little value it already has.

Are you investing from the little you have just so that you can preserve it from losing its value, or are you investing from the excess that you have so that you can have some for tomorrow? What is your major intention for investing Is it to make profit first or to prevent what you have from losing value? I know you may be wondering the difference, but the difference is that if your intention to invest is to make profit you will be concerned if what you've invested has not yielded any profit whatsoever, but if your intention to invest is to preserve the value of what you have already then you may not really be concerned if Bitcoin does not increase in value, your only concern will come when the value starts dropping rapidly, but if its value remains the same you will be okay.

The thing be say no be all Nigerians go dey interested in putting their money for Bitcoin or other cryptocurrency, wetin do Church and prophecy?? . Well, make we dey serious. True, the ones wey dey interested in investing go just do am make e be say them scatter their income and also to get profit because if you check am, Bitcoin nah risky business, yet out of all the coins nah im person fit hold and get confidence say nah better asset them hold. So e sure for me say no be all wey dey invest in Bitcoin really know the koko involved nah make we get the weak hands as well as the strong ones.
 Everyone wey wan put body for Bitcoin put am for mind to gain profit so the best way to take enjoy or get calm mind nah when you don decide to no dey panic when you hear negative news.

[Karl_3000]

Jusy know that the way other people are thinking in Nigeria, is how many people are also thinking in there countries regarding bitcoin they are having. The importance of hodl is to preserve your asset not to be vulnerable to inflation and also as an investment as the price of bitcoin increase.

I am investing in bitcoin because I am expecting 5x in the next 5 to 10 years and I am expecting 15x after 10 years.

[Ishicryptic]

Bitcoin is a hedge against inflation no doubt because of it's limited supply but I believe that the major reason why many Nigerians are holding Bitcoin is not much different from the reason why everybody else in this world is holding it for the long term. Anyhow you choose to look at it we are holding Bitcoin for PROFIT that is the basic reason.

Bitcoin is a store of value that have proven itself capable to increase after dip and reach ATH that is why it's adoption is increasing rapidly, if not for profit it is only people who care for privacy and freedom from government controlled fiat that will hold Bitcoin. Holding Bitcoin goes beyond preserving the value of our capital otherwise we as Nigerians would be holding stablecoins that are pegged to strong a strong currency like USD but we choose Bitcoin despite that it is volatile because we want to have profit after many years.

[ZeroVinsonN]

What's wrong with doing the two at the same time, i can be accumulating bitcoin with the hopes of eventually getting profit while still holding it as a store of value at the same time, both are good ways to hold bitcoin and at the end of the day will benefit the holder.
The thing is that some people do one and then somehow end up doing the other without really knowing it, you maybe weren't looking for profit when you started but then end up turning a profit because they held long enough for the value o their stash to increase, and the reverse is also very possible.

[ColdLava40]

 but if your intention to invest is to preserve the value of what you have already then you may not really be concerned if Bitcoin does not increase in value, your only concern will come when the value starts dropping rapidly, but if its value remains the same you will be okay.

You speak up of Nigerians like you see them all or know their mind.

One major factor for investment is to make profits, so it won't be any bad if we Nigerians take part in things like Bitcoin or other investment that would help in anyway to survive this hardship which the government has put on us.

Okay let's say you put in your money to preserve it's value bit bitcoin also has volatility. You can't tell me that an investor who got into Bitcoin with the goal to preserve his money around when market was $120k would be happy he made the right choice now.

He would be in pain and regret he ever got to Bitcoin because he's not making profits not preserving the value of his money.

[IjawMan]

The intentions and logic behind Bitcoin investment for all in the people in the different worlds is mutual.

You have to do your research again that if you did any before now cause there is no flourishing economy right now, all the countries economies are struggling at different dimensions and it is that some are better at managing their economical challenges and inflation than others.

No matter the country a person is from we are all moving out money into Bitcoin for investment driven by profit and long term storage of the value of money since the value of all countries fiat currency are gradually losing it purchasing power year upon year.

[Hyphen(-)]

Are you investing from the little you have just so that you can preserve it from losing its value, or are you investing from the excess that you have so that you can have some for tomorrow? What is your major intention for investing Is it to make profit first or to prevent what you have from losing value? I know you may be wondering the difference, but the difference is that if your intention to invest is to make profit you will be concerned if what you've invested has not yielded any profit whatsoever, but if your intention to invest is to preserve the value of what you have already then you may not really be concerned if Bitcoin does not increase in value, your only concern will come when the value starts dropping rapidly, but if its value remains the same you will be okay.

Investing for profit and to preserve value is what I think must Nigerian do because if it is for just profit, you will want a quick profit which means you will likely invest on altcoin that can give you profit on time; but once you have decided to buy Bitcoin, you have already put it in mind that your value will be stored and you will likely make profit because if you don't make profit, it means the value is not there anymore; therefore, I think it is for both, even though the preservation of its value is more important.

[Fiatless]

Are you investing from the little you have just so that you can preserve it from losing its value, or are you investing from the excess that you have so that you can have some for tomorrow? What is your major intention for investing Is it to make profit first or to prevent what you have from losing value? I know you may be wondering the difference, but the difference is that if your intention to invest is to make profit you will be concerned if what you've invested has not yielded any profit whatsoever, but if your intention to invest is to preserve the value of what you have already then you may not really be concerned if Bitcoin does not increase in value, your only concern will come when the value starts dropping rapidly, but if its value remains the same you will be okay.

Bitcoin can only preserve value of if it appreciates. Don't forget that the value of fiat is depreciating and inflation is rising. So, for you to protect your money or assets from the effects of inflation, Bitcoin price will have to rise. Therefore, those who want to preserve the value of their possession are also concerned about the increase in value of Bitcoin.

[Shadiq]

Can volatile assets be a good way to store value? If someone’s goal is to store value, they can invest in stablecoins, Bitcoin is never a good choice for storing value. If someone had stored money in Bitcoin for the purpose of storing value when Bitcoin was worth $120k, what would they say about its value today? Bitcoin has now depreciated instead of retaining its value. I am not going for a recovery, but rather trying to explain that Bitcoin is more popular for depreciation or appreciation than for retaining value. Stablecoins for retaining value will still be at the top of the list of favorites.

Not only Bitcoin, but the main purpose of investing is to make a profit. No one would invest in Bitcoin if they did not get a profit. Bitcoin works against inflation in the long run, that is, it increases the value of money in the long run, but does not retain value.

[obuoma]

Any Nigerian who hears about Bitcoin bitcoin still save his money in fiat is surely not smart because Nigeria have one of the worst inflation in the world. One Naira have continued to lose it's value for the past 10 years and there is no sign that there will be improvements anytime soon. Bitcoin offers a wonderful alternative that everyone should embrace with passion. Holding Bitcoin for a Nigeria is not just a smart investment, it is actually a way if evading disaster that fiat pose.

[Fiatless]

Can volatile assets be a good way to store value? If someone’s goal is to store value, they can invest in stablecoins, Bitcoin is never a good choice for storing value. If someone had stored money in Bitcoin for the purpose of storing value when Bitcoin was worth $120k, what would they say about its value today? Bitcoin has now depreciated instead of retaining its value. I am not going for a recovery, but rather trying to explain that Bitcoin is more popular for depreciation or appreciation than for retaining value. Stablecoins for retaining value will still be at the top of the list of favorites.

Stablecoins are pegged to fiat which lose value overtime. The dollars and other popular currencies lose value. However they are more stable than the Naira. Bitcoin is a good store of value but there should be a long-term plan. The individual needs to be sure that they will not dispose of Bitcoin when the value has reduced. They would have to target the bull market before selling.

Stablecoins are not a good store of value because they are centralised. Your coins can be frozen by the government or other organisations. Keeping funds in Stablecoins for a long time seems risky to me. A decentralized asset, such as Bitcoin, is generally considered safer.

[Jaycoinz]

Any Nigerian who hears about Bitcoin bitcoin still save his money in fiat is surely not smart because Nigeria have one of the worst inflation in the world. One Naira have continued to lose it's value for the past 10 years and there is no sign that there will be improvements anytime soon. Bitcoin offers a wonderful alternative that everyone should embrace with passion. Holding Bitcoin for a Nigeria is not just a smart investment, it is actually a way if evading disaster that fiat pose.

So you think it's a smart move to keep all your money in Bitcoin?

The problem you dey talk about no be only for Nigeria here oo because on a general sense all fiat world wide is a No No when it comes to appreciation and that's why when it comes to saving it's not a good option at all for anybody anywhere in the  world to save on fiat because this inflation matter na something of a global scale and na why so many persons have moved to saving in Bitcoin but even as that make we understand say na money wey person no dey use e supposed dey put for this Bitcoin investment because no be something wey go yield profit fast fast.

[Mr_Brilliant$]

At this point, for me, na both lol.. I no dey see Bitcoin as something wey I go just buy because I wan make quick profit..  The way fiat currencies dey lose value ehn.. Bitcoin don prove say e fit help preserve purchasing power, especially if person dey think long term..

At the same time, I no go pretend say profit nor dey involved.. If I fit preserve my value and still get appreciation on top, why not? So na balance of the two for me.. First, preserve wealth from inflation and currency depreciation, then allow the long term growth potential do its work..