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

[Bigjoe33]

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?

Anyone wey I do, I believe say I no get anything to lose because all na still the same Bitcoin matter. If I invest to fat profit later, I go enjoy am, if I also invest so dat my value go remain intact, na still for my pocket. Because even though say I invest to get profit, and the market price drop, I go still face the tension, and if I also just invest to avoid inflation and save my money, if the price still decline for market, my main money for still reduce. So, whichever one I do, when the price drop as in dey always fluctuate, or when in rise, I go still get the effect or advantage. So somehow, anyone we do, we are indirectly been part of the two

[Crypto_Timothy]

I do think for alot of Nigerians preserving purchasing power comes before making profit because inflation and currency depreciation make holding cash increasingly costly over time, so inn that sense, assets like Bitcoin will be seen as a hedge rather than just a speculative investment, but personally, I do believe the best approach is to have both objectives: first, protect the value of your money from inflation and second allow it to grow over the long term, so like if an investment doesn't immediately generate profit but still preserves purchasing power better than leaving cash idle, it has already served an important purpose, you get?  You have to understand why you are investing, because that purpose will shape your expectations and help you stay disciplined during market fluctuations.

[Mpamaegbu]

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.

Nor forget sey Bitcoin too dey drop value. E nor dey certain sey e go increase in price as u dey buy. Again, e go depend at d time wey persin dey try buy and hodl. Make persin nor go dey hodl wen dem supposed to dey take profit. If na stable coin u dey refer to here dat wan sure sey e nor dey volatile bc stability na im second name. Except persin dey buy to hodl for a long time like wetin go cross from wan circle to d other. If na to hodl for a few months or a year/two years, persin fit still do wrong investment with Bitcoin.

[Bitcoin-Forever]

We cannot claim investing in Bitcoin without being profitable in it, on that is needed for us is too maintain a good standing in holding our assets until we are more satisfied with the results from this, many try to pull out of the market because they can't have enough patience waiting till the market matures for their profitable benefits, this is why as an investor, we are bound to be more of a holder so as to make profits down our investment portfolio.

[Tungbulu]

Nor forget sey Bitcoin too dey drop value. E nor dey certain sey e go increase in price as u dey buy. Again, e go depend at d time wey persin dey try buy and hodl. Make persin nor go dey hodl wen dem supposed to dey take profit. If na stable coin u dey refer to here dat wan sure sey e nor dey volatile bc stability na im second name. Except persin dey buy to hodl for a long time like wetin go cross from wan circle to d other. If na to hodl for a few months or a year/two years, persin fit still do wrong investment with Bitcoin.

And when exactly be your idea of when person supposed buy and when e supposed take profit? That take profit idea no be investor’s mindset, but na trader’s mindset. Difference Dey between investors and traders, most people feel say traders na just people wey dey do short term trading, but we also get long term traders too, these ones no dey trade on a daily basis, them go buy the asset, then dey monitor am for a while, and when the asset don appreciate small, them don rush sell, lock in profits, then wait for price to come down small make them buy again. People wey dey approach Bitcoin with this kind mindset go definitely make mistake easily because just as you talk, Bitcoin dey very volatile and you no fit really predict am, especially within the short term. And na this be the reason why e dey more safer to maintain long term view and mindset when you dey invest for Bitcoin. Rather to dey wait for profit, as you buy, leave am there, for at least 2 to 3 cycles, definitely you go dey in profit in the longer term.

[Mpamaegbu]

~snipped~

And when exactly be your idea of when person supposed buy and when e supposed take profit?

If persin fit buy towards the end of d year leading to Halving, hodl am till a year afta Halving. My reason be sey dat halving expectation dey create FOMO well well and na so market go begin push up till we enta halving proper. Dat momentum go still carry price enta d following year wey we dey take get All Time High (ATH).

That take profit idea no be investor’s mindset, but na trader’s mindset. Difference Dey between investors and traders...

Technically, every investor na trader just as every position/swing trader na investor. People wey I nor dey consider as investors na scalpers and intra-day traders.

Rather to dey wait for profit, as you buy, leave am there, for at least 2 to 3 cycles, definitely you go dey in profit in the longer term.

Hia! You sure sey e get any of awa people wey dey do dat type of 2 to 3 circles investment on Bitcoin? I nor dey sure oh. Who get dat mind? You go see betta profit and u nor go take am? Who goes u 😂. But if na on altcoins investment, I dey sure sey we get plenty people there.

[Ndabagi01]

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.

We all know that the main intent of Bitcoin is to invest into it and preserve the value against inflation as a major alternative to the fiat currency. But when we want to look at the broader impact of it, it has been used more as a means of making profit from it rather than using it for other valuable means or even the intent of it in the first place. The holder can decide to go for the most profitable means for him to stay at the top with his bitcoin investment, the choice is left for him to decide while making sure that he doesn’t make greed overcome him in the process of achieving that both.

[BIT-BENDER]

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.

Well to be very honest many Nigerian do not trust our local currency the naira and Bitcoin is an alternative although the US dollar is also a popular alternative to many so that is not the ultimate reason why people in Nigeria choose Bitcoin.
There are people who convert their naira or use their naira to buy the US dollar because they feel more comfortable holding it than the US dollar.
For sure me have many people holding Bitcoin because they believe that this is the best investment opportunities for them, Nigerians like others like profit so holding Bitcoin is a good is their way to hope for profit, for me this is the biggest reason why Bitcoin is popular in Nigeria.

[Tungbulu]

~snipped~

And when exactly be your idea of when person supposed buy and when e supposed take profit?

If persin fit buy towards the end of d year leading to Halving, hodl am till a year afta Halving. My reason be sey dat halving expectation dey create FOMO well well and na so market go begin push up till we enta halving proper. Dat momentum go still carry price enta d following year wey we dey take get All Time High (ATH).

You observe wetin happen for the previous halving at all? Because person wey actually been follow this your approach for the previous halving go just squeeze face now because na wetin so many investors been think say go happen, (including me self). Before the halving people don buy buy bitcoin everywhere, but imagine wetin happen after the halving, price drop wetin no nice, in fact the speed e take dey drop make plenty people mind fly, and plenty people sell in loss. And even those people wey manage wait to see how the thing go play out, wait for longer than expected before the price come even start to come up. The same thing also happen for the last Bitcoin Spot ETF, and many people start to doubt all the knowledge them feel say them don gather all the years about Bitcoin cycles, many come dey even feel whether the cycle don break or no dey work again.

Wetin be my point here? Na say e no always Dey possible to predict Bitcoin, especially within the short term, in fact, the shorter the term, the harder e go dey to predict Bitcoin, na why the best way to approach Bitcoin na to at least try to Dey predict am within their longer term, because we know say no how no how wey Bitcoin price no go go up within the period of 5 to 10 years, so you hodl strong for that period. Even though past performance Ni dey guarantee future results, but that one na e be the only tested and trusted fact about Bitcoin so far.

Hia! You sure sey e get any of awa people wey dey do dat type of 2 to 3 circles investment on Bitcoin? I nor dey sure oh. Who get dat mind? You go see betta profit and u nor go take am? Who goes u 😂. But if na on altcoins investment, I dey sure sey we get plenty people there.

Hahaha, na true say e take only person wey get mind to do am, na why them talk say Bitcoin investment no be child’s play. Most of our people don too get this altcoin investment mentality wrapped around our head, so every small profit we see, Viaaaam, we don collect, but the fact say our people no dey follow the main approach no mean say e no get people wey Dey follow am. Abi you think say na play when them talk say investing for Bitcoin na discipline and self control?? And again, the reason we no Dey fit get mind to leave out Bitcoin for that long na because we dey too put mind for our BTC stash, na why, when BTC drop well well, some people wey call themselves investors and HODLers no go fit chop, them go dey behave like people wey sporty cut their slip, and when price don dey jump, them don dey monitor market like bet slip wey them wan cash out. All these things no really dey necessary, na why them say make people first settle all their financial needs, then anything wey remain, wey be disposable money, use am buy your bitcoin, and also get money them aside wey you go keep for emergencies and other reserve money to dey take dey sort some kind petty petty bills, that way, you no go really get any short term expectations from your Bitcoin stash, because all your short term needs don dey sorted out, and e go enable you fit hodl for longer time without having any need to collect profit when you see am.

[Mpamaegbu]

~

You observe wetin happen for the previous halving at all? Because person wey actually been follow this your approach for the previous halving go just squeeze face now because na wetin so many investors been think say go happen, (including me self).

Yes, to answer ur question whether I truly observed wetin happen in d last halving. I did. I nor dey preach wetin I nor dey do. Ok?

Again, wetin I see wey u observed and explained in dis ur comment as quoted and d rest of d other wans wey I stamped out be sey u use Trader mindset follow d thing. Investors' mindset dey completely different from how Traders dey reason investment. Traders easily panic immediately dem begin see price dip, even wen dem nor even sabi wetin dey cause d dip. Anoda thing wey u go realize be sey price nor dey move straight. There's always price correction. Na only for Naija wey price go just dey move up dey go without taking a break and coming down, except in rare cases.

Wen I invested dat ₦500k then on 2023, I just forgot it. Even wen price started dipping, I do eye like I nor even see am bc e clear me sey price must hit pass its previous ATH of 2021 wey be around $68k+. By 2025 wey supposed be peak for d last circle, price hit $126k+. Before den sef, my investment don cross ₦1.2.

Except d dynamics com change now and circle com dey affected bc of all d politics wey Donald Trump dey cause around Bitcoin and cryptos, I still expect d same thing to repeat itsef. I nor give dis out as a financial advice. Na just my speculation.

[Powerjumboo]

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.

Every person has a dream to make a profit, I am the same because my target is to make a profit from this. I spend my little income on my family and save the rest for some family emergency needs and what is left I invest in Bitcoin. My only target for investing is that I will get good profit from this after a long time because I have gained experience about Bitcoin and have seen its price at its highest. As far as I know, I can say that if I can keep my investment for a long time, then of course I will be able to get a lot of profit from this.

[Promocodeudo]

We all know that the main intent of Bitcoin is to invest into it and preserve the value against inflation as a major alternative to the fiat currency. But when we want to look at the broader impact of it, it has been used more as a means of making profit from it rather than using it for other valuable means or even the intent of it in the first place. The holder can decide to go for the most profitable means for him to stay at the top with his bitcoin investment, the choice is left for him to decide while making sure that he doesn’t make greed overcome him in the process of achieving that both.

Don't say we all know because some folks don't know, if we all know as you proclaimed, then of what purpose is learning? There are those who invest in Bitcoin just for the profit and nothing more, I think it about how we understand things and our level of knowledge about Bitcoin, Bitcoin is a very good store of wealth and value but people that mainly go for this important benefit of Bitcoin are those that understands the value it has and how hodling Bitcoin can be of benefit to them in the future, inflation has been the major problem of the world today, as citizens of Nigeria, we can tell how our inflation rate has been so high even if some people will say for Bitcoin to gain more value, it has to be hodl for a long-term, I still think that many Bitcoiners especially those that don't longer dump their fiat in the banks for banks benefit, invest in Bitcoin to preserve value not necessarily profit.

[icebar]

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?

Which one is needed first depends on the investor’s situation. In Nigeria, where inflation is on the rise, preserving the value of one’s assets has become a major challenge. If I had to worry about the exact value of the money I have, I would not have the inclination to save. But those who are not worried about inflation invest in Bitcoin and expect to profit from it. However, if an investor in Bitcoin keeps accumulating Bitcoin, he is able to preserve the value of the asset and also get multiple returns from Bitcoin due to holding it for a long time. I invest in Bitcoin considering both aspects. Inflation will happen and I also have to profit from the investment.

[Johnlomape]

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 value of naira is falling and many investors are looking for ways to keep their fund that will not be affected by the inflation that is caused by the Nigerian government. The government is not doing anything to help the naira to be strong so it can compete with other currencies but all we have been seeing is borrowing which is what the government has been doing, having no plan to help the naira to be stronger than what it is now. Naira was only of the strongest currencies in the African union but now, things have changed drastically and nobody want to be responsible for what's happening to the economy.

[SOKO-DEKE]

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.

Bitcoin investment is a very good way of fighting against inflation. However, the main reason why some Nigerians have heard about Bitcoin and still choose saving money over investing in it is that some savings are only for a short period of time. It is not really advisable to invest money that someone will need in the near future because of the volatile nature of Bitcoin's price. The price can go down or up at any time, and it is possible that when the person decides to sell and use the money for something important, the price may be down, resulting in a loss.

Therefore, it is only those who are saving money for a long period who should consider investing in Bitcoin. Anyone who will need to use their money within the next three years should leave it in a local bank account. Investing in Bitcoin is generally more suitable for long-term goals because it may not pay off over a short period due to price fluctuations.

[PremiumcryptoHub]

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?

Which one is needed first depends on the investor’s situation. In Nigeria, where inflation is on the rise, preserving the value of one’s assets has become a major challenge. If I had to worry about the exact value of the money I have, I would not have the inclination to save. But those who are not worried about inflation invest in Bitcoin and expect to profit from it. However, if an investor in Bitcoin keeps accumulating Bitcoin, he is able to preserve the value of the asset and also get multiple returns from Bitcoin due to holding it for a long time. I invest in Bitcoin considering both aspects. Inflation will happen and I also have to profit from the investment.

Yes, inflation is increasing in Nigeria so it is a big challenge for everyone to protect the value of their assets here, but I think we need to think about the true value of the money we have and prevent the depreciation of this naira so everyone should take an alternative measure i.e. invest in Bitcoin if they have enough knowledge to invest. Actually the advantage of investing in Bitcoin is that if you hold it for a long time, it is possible to get returns from it and the value of the asset will also be protected from inflation. So we can say that Bitcoin is a good medium for those who are looking for wealth and value preservation so it seems that there are some nigerians who are investing in Bitcoin not for profit but for the preservation of the value of the asset.