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

[Bryan jessy]

On a norms the main reason for investment is to make more profit That is; adding value to the money being invested and store for some period of time, this is my own reason for investing in Bitcoin, but with the way the native Bank system is operating now and how fiat kept depreciating is uncalled for, if we have more fiat it will not be bad to adopt both methods preserving it to avoiding losing so much value and investing to increase profit, that is the situation we find ourselves now and there is nothing we can do but help ourselves and preserve our funds in any way we can, because we can not relay on the government but rather secure what we have to avoid losing all.

[Princess Leah]

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?? .

I know say many Nigerians especially women dey guilty on this one wey be say them go dey seek prophetic solutions to the financial situation instead of to start small scale business or invest the small money gradually but lately people eyes done dey open cause the internet done dey help excuse those so called men of God wey dey decieve people in the name of 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.

We go agree say na only a lower petcebt of Nigerians wey done understand the benefits of investing for the future they mostly succeed and why na because the rest dey mostly focus on profits, not long term profits but quick profits, person go invest in something wey require like four years to get returns come dey expect say they'll collect profits in few months time, you dey see the kind mentality wey some people get?

[Btcdeybodi]

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.

In an economy like the one we're currently in here in Nigeria where inflation keeps reducing purchasing power and the local currency keeps weakening, simply leaving money idle often feels like taking a guaranteed loss. So, buying Bitcoin isn't always about getting rich quickly; sometimes it's about trying to stand still while everything else is losing value. In a simple words; I'm investing to preserve what I have from losing value- I'm not even thinking about profits at this point.

This is the reason why I tell people that are always profit centered about their bitcoin investment that they shouldn't look towards that direction now because the market is volatile of which is it not certain that the price will increase after purchasing, therefore what they should be concerned about is how to save their money from inflation first because due to the economic downturn, it is useless to keep money in flats because rather than gaining value, it loses value overtime. This is not a time to evaluate the profits that can be made from our investment but how to maneuver the economic crisis and become smarter in the near future.

The real challenge is that many Nigerians are investing from money they can barely spare rather than genuine excess income and there's a price hit, the impact hits harder.

That is the problem because investing an amount that we cannot afford to lose will cause emotions in bear seasons like this and there is every tendency of selling off to attend to emergency needs. Investing with a discretionary income is very important because it is an amount that is left after major bills has been sorted out, so it helps us to manage our finances without having to worry about the one we used for investment.

[Cityhunter34]

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

This isn't true, all your money should not be saved in Bitcoin.

If you want to save in Bitcoin, the saving plan should be long term, in a way that you can hold through bear times, saving in Bitcoin is not a smart move if the funds will be needed within a short time, because of Bitcoin volatile nature, rather switch the savings into investment./

Without even being told, we are meant to understand that Bitcoin investment requires a very long process. So you only need to invest an amount that wouldn't affect you along the line. Sometimes most investors panic because they put all their funds in Bitcoin, knowing fully that Bitcoin investment is not a get-rich-quick scheme. At least you have to keep some money aside from your investment so that In case if anything happens along the line, you won't panic. This is very important for us to always put into consideration when investing in Bitcoin.

[yixichloro2xx]

‎One of the benefits of investing in Bitcoin is to make your money have good value against inflation. The Naira is getting weaker every time, which makes purchase power weak too. However I think every investor's goal is to make profit in the long term. I don't see the reason why I will put my money into something without seeing good results or gains after a long period. As an investor, our focus shouldn't be on short term gains. Because that's what turn investors to trader's whereby they will start reacting to every market moves. Investors long term expectancy should be around 8 years above if they truly want to gain. My expectations in Bitcoin is tthat my assets will grow over many years while also helping me protect my purchasing power.

[Perfectbaby]

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.

Anyone who is investing in Bitcoin should know that the price of Bitcoin doesn't remain stable because, today we May likely see the price increases above what we expected and tomorrow the price drops where you do not think about what could caused the drop of the price. As someone who is passionate about preserving the value of the investment, then you should be also be having that patient to wait till the price goes up again.

[Webutxo]

On a norms the main reason for investment is to make more profit That is; adding value to the money being invested and store for some period of time, this is my own reason for investing in Bitcoin, but with the way the native Bank system is operating now and how fiat kept depreciating is uncalled for, if we have more fiat it will not be bad to adopt both methods preserving it to avoiding losing so much value and investing to increase profit, that is the situation we find ourselves now and there is nothing we can do but help ourselves and preserve our funds in any way we can, because we can not relay on the government but rather secure what we have to avoid losing all.

I'm making investment to make profit, that's the goal, I don't have any wealth I want to preserve for now but who knows, if I can make plenty profit from investment maybe I will be able to preserve that wealth in Bitcoin for long term instead of selling everything and coming back to nothing. This is how Bitcoin is supposed to be used for the likes of us that doesn't have big funds to make investment but this is not to discouraged others from buying small amount to hold.

There are other ways people that want to make investment with small money can hold their Bitcoin and that's through DCA, it's not that easy like we do discus it but it's the best way for people who don't have large money on set to buy Bitcoin at once. Like for example, you can buy as little as $10 worth of Bitcoin on exchange, if you convert that amount to Nigeria currency, that's ₦14000 on average and that shouldn't be a problem for anyone that want to buy Bitcoin.

[Makus]

The main reason why Nigerians invest in Bitcoin is mainly for financial independence, there might be a percent of people that invest to preserve value but for a lot of people they make their investments to gain profits and not to preserve anything. A lot of people invest small amounts of money they can afford to lose using the DCA strategy so as to accumulate gradually, this is done only for the purpose of making profit. Nigeria is a country that has a tough economic situation at the moment and people use a means to escape the hardship.

[Sammye3]

The core purpose of every investment should be to make profits, preserving value could come secondary to the main purpose. Personally,  DCA strategy has also being the vision so there is really no pressure whatsoever as to make quick profits but rather believe in its future market value.

Anyone who say they are investing in bitcoin to preserve its value alone are probably hypocrites who could talk about bitcoin here in the forum but are not stacking up for long term. It is a more satisfying belief when the fundamentals of bitcoin are put in place, that should give a better understanding of how your investment should operate.

[CryptopreneurBrainboss]

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?

Make we tell ourselves the truth, many of us if not all are here because we are not yet financially stable so if that is the reason then I don't think we are here because we want to preserve our wealth instead what we are here for is to multiply our cash or make extra cash and that's why we are interested in Bitcoin so to answer your question I will say the reason why we are investing in Bitcoin is to make profit and that's not a bad reason.

Bitcoin serves different purpose as it can be a store of value to some people while it also be a portfolio for people to increase their finances. As an investor you can make use of Bitcoin as a retirement plan as you constantly invest for the future, as a student you can make use of Bitcoin as a savings account and the money that you save increase in value over time.

Most importantly you can also make use of Bitcoin as a currency for your day-to-day transactions and all these purposes perfectly fits into reasons why Bitcoin was created.

[Cryptomultiplier]

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?

Make we tell ourselves the truth, many of us if not all are here because we are not yet financially stable so if that is the reason then I don't think we are here because we want to preserve our wealth instead what we are here for is to multiply our cash or make extra cash and that's why we are interested in Bitcoin so to answer your question I will say the reason why we are investing in Bitcoin is to make profit and that's not a bad reason.

Bitcoin serves different purpose as it can be a store of value to some people while it also be a portfolio for people to increase their finances. As an investor you can make use of Bitcoin as a retirement plan as you constantly invest for the future, as a student you can make use of Bitcoin as a savings account and the money that you save increase in value over time.

Most importantly you can also make use of Bitcoin as a currency for your day-to-day transactions and all these purposes perfectly fits into reasons why Bitcoin was created.

You clearly answered the post with the right knowledge and it serves both the purpose of holding value and making profit in the end.
No matter the work of life an investor or potential investor belongs to, it can be adjusted to fit their income and finances and risk tolerance.

Am glad investment in Bitcoin isn't like gambling but the risk of investing is there, but it doesn't tend to zero and that means the potential power that Bitcoin weilds right now, far outweighs the risk mostly in this kind of economy where inflation and devaluation of currency is the order of the day.

[DiMarxist]

If you ask me as a Nigerian I will say am investing in Bitcoin for the two reasons that, you mentioned. Looking at the Nigerian society you can see that it's a perculier one because we are fighting against both inflation and a depreciation currency which is one issue Nigerians are struggling to cope with. You have to preserve and add value to your money by protecting it from the high cost of inflation which causes our Naira to depreciate, so investing in Bitcoin helps act against the effects of inflation and in thesame time you are getting value for what you invested by getting profit.

[Joy- maker]

If true be told many Nigerians are investing in bitcoin for profit making and not to protect their long savings from losing it value. If not for the profit someone can make from bitcoin i don't think Nigerians would be interested in bitcoin talk more of investing their hard earn in something that is as volatile as bitcoin.

Although not only Nigerians are into bitcoin because of the profit they can make from it on the long run, 70% of those that have adopted bitcoin, adopted it because it is a store of value with potential returns outside that majority of us won't be here talking about bitcoin right now.

[igebotz]

If true be told many Nigerians are investing in bitcoin for profit making and not to protect their long savings from losing it value. If not for the profit someone can make from bitcoin i don't think Nigerians would be interested in bitcoin talk more of investing their hard earn in something that is as volatile as bitcoin.

Although not only Nigerians are into bitcoin because of the profit they can make from it on the long run, 70% of those that have adopted bitcoin, adopted it because it is a store of value with potential returns outside that majority of us won't be here talking about bitcoin right now.

This has always been the case of course and I don't think anyone is disputing this - nobody wey dey put money somewhere wey no dey expect some sort of profits no matter how little it is but since the beginning of last year most individuals I know and some business men I've been opportuned to discuss investments with all joined the train to buy Bitcoin, stablecoins as store of value to hedge inflation and weak Naira.

I made one of the toughest financial decisions this year when I went completely zero Naira, 100% crypto since mid March. I only convert to pay bills.

[IjawMan]

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.

In an economy like the one we're currently in here in Nigeria where inflation keeps reducing purchasing power and the local currency keeps weakening, simply leaving money idle often feels like taking a guaranteed loss. So, buying Bitcoin isn't always about getting rich quickly; sometimes it's about trying to stand still while everything else is losing value. In a simple words; I'm investing to preserve what I have from losing value- I'm not even thinking about profits at this point.

The real challenge is that many Nigerians are investing from money they can barely spare rather than genuine excess income and there's a price hit, the impact hits harder.

It is devastating when the little money you have strived to make is rather losing value while you having it in the fiat currency and this is the last thing any one wants to experience in this severe economic period where money is hard to make but easy to be exhausted, and now coupling that with value loss, it becomes a double trouble.

As a result, people are outsourcing channels of preserving the value of the money they have been able to make, and if it means investing that into bitcoin then it makes sense doing it for the preservation purpose first before actually thinking of profit.

[VivaMan]

A lot of people invest in Bitcoin for different purposes and various mindset in achieving a particular goal.

If e be say Bitcoin succeds as a store of value, is still debated. To be compared with assets like gold.


So I think the reasons why people are
investing in bitcoins  really depends on your goals as an investor buying and selling in a longer term or short term.

[Fivestar4everMVP]

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.

But you and I know that there is no way the value of bitcoin is going to remain the same for a long time, the value must either drop or increase with time.

So for me, I might weigh more on the fact of investing to preserve value of my money but with all honestly, I am also investing to increase profit, reason being that we all know the problem is majorly with our naira and how easy it is for it to start depreciating on any small issues, so if investing was simply about value preservation, I would simply keep my money in usdt or usdc which are stable coins tired to the dollar and have a better stable value than the naira.
So for me, I invest in bitcoin for that two reasons, value preservation and increament of profit, but this does not mean that when ever the price of bitcoin starts going down, I start complaining, no, with my experience in this so far, I've learnt to see every down trend of the price of bitcoin as an opportunity to buy more rather than complain or even panic selling.

[Cryptoprincess101]

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?

I'm investing for both because while am trying to preserve the value of my money by investing in bitcoin, i also aim to make profits from my investment which is why i have a long-term target because there is no way you will hold bitcoin with a long-term mindset that you won't make profits from it. An average bitcoin investor aims to make profits but that shouldn't be the primary goal. Bitcoin is already a store of value so by investing in it already means that your money has value, but profits will come later if you can exercise patience and never sell till a long period of time which could be 5-10 years or above.

[Judith87403]

The main reason why Nigerians invest in Bitcoin is mainly for financial independence, there might be a percent of people that invest to preserve value but for a lot of people they make their investments to gain profits and not to preserve anything. A lot of people invest small amounts of money they can afford to lose using the DCA strategy so as to accumulate gradually, this is done only for the purpose of making profit. Nigeria is a country that has a tough economic situation at the moment and people use a means to escape the hardship.

The truth still remains that no matter your intentions for investing in Bitcoin, be it solely for profits or just to preserve value, you’ll still end up making profit as long as you hodl for the long term. But still, it’s important for investors to define their goals and know the actual reason they’re investing in Bitcoin, as this helps them know how well to navigate the risks associated with investing in Bitcoin, this also helps you know the best decisions to take as it concerns your investments.

[iBaba]

~~~

You have really highlighted an important difference, in countries with relatively stable currencies many people invest primarily to grow wealth. In Nigeria a lot of people first think about preserving purchasing power and when inflation is high and the naira keeps losing value, simply saving money in a bank account can feel like watching your wealth slowly disappear. There are some people that started buying bitcoin not because they expected to become rich overnight but because they were looking for a way to protect the value of their savings. One person I know would set aside part of his income every month. He noticed that money left in naira for a long time could buy less and less so he began converting a portion into bitcoin as a long term investment.

For me the primary goal of investing is preservation first and growth second, because profit is important but before making money I want to avoid loosing purchasing power. So if an investment can protect the value of my savings and also appreciate overtime then that is an added advantage