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

[Plutomanian]

There are various reasons for investing in Bitcoin and I will mention them such as there are many investors who use Bitcoin as a hedge against inflation, there are also many who choose Bitcoin to gain financial freedom and there are many investors who see Bitcoin as a reliable store of value. You are right that investors with long-term plans are not disappointed by the volatility of Bitcoin and the crypto market, they confidently accumulate BTC and use it at every opportunity, which allows many to enjoy the benefits of Bitcoin and even though the Nigerian economy is weak, they are creating self-employment opportunities through Bitcoin.

We're all investors and some of us are trades in the market, something brought us here and it's not just about Bitcoin but about augmenting our investments and been keen on making good amount of money for ourselves or do you have any other reason why you're in the space? Absolutely not, although we do learn the basis of the market and how those basis interms will help us become more stable in the market because that's how to enchanced our technique and become more sanguine in the market.

Our dreams wouldn't be shattered if we follow the right path and become more competitive in the space, we know our rights and the kind of sectors to put ourselves into rather than going to categories where we might find not good or suitable enough for us. We have our reasons and purpose in the market, and intend to keep my own, hope you will do the same?

[Brilliant1]

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.

I can boldly say I am investing in Bitcoin because of value because it is better to invest in value like the writer said,when you are investing in Bitcoin because of value you will not border if Bitcoin is dropping or not because I worry and border for the future not this today.

[Don Saga]

Bitcoin investment is all about the right mentality. You must not have enough to have the right mindset to invest for long term and not trying to escape the failing economy. As much as there are people who invest in bitcoin for short term profits or basically to avoid inflation, there are also people who invest with a plan despite how the outcome of the economy could turn out or how much income they make.

The goal of every investment is to make profits but that should not be the only focus, as building fundamental values on an investment is also considered a viable asset. Many Nigerians have this mentality and that is the truth, mostly because of the current economy of the country but that is a wrong way to go about bitcoin investment. If I was to start investing in bitcoin, it should be for its value rather than chasing profits and that is because it's fundamentals and structure is something that has proven itself reliable and can be trusted.

[Proty]

Bitcoin investment is all about the right mentality. You must not have enough to have the right mindset to invest for long term and not trying to escape the failing economy. As much as there are people who invest in bitcoin for short term profits or basically to avoid inflation, there are also people who invest with a plan despite how the outcome of the economy could turn out or how much income they make.

The goal of every investment is to make profits but that should not be the only focus, as building fundamental values on an investment is also considered a viable asset. Many Nigerians have this mentality and that is the truth, mostly because of the current economy of the country but that is a wrong way to go about bitcoin investment. If I was to start investing in bitcoin, it should be for its value rather than chasing profits and that is because it's fundamentals and structure is something that has proven itself reliable and can be trusted.

In bitcoin investment profit isn't the only reason why people invest in bitcoin. There are other reasons why people invest in bitcoin, there are people that are buying bitcoin because they want to store value and as we all know bitcoin has proven to be a good store of value. Aside this , bitcoin is decentralised in nature and it offers a kind of freedom that fiat can't. However, those that are investing in bitcoin to make profit are not doing the wrong thing as long as they are not targeting for short term.

[Youngrebel]

Everyone has their reasons for investing in Bitcoin and I would say that mine is actually to increase profit, I'm trying to save in Bitcoin because I know that saving in fiat is going to be pointless in a few years. Although It is still reasonable to save in Bitcoin to preserve and Also increase profits but whichever reason you have for investing the end goal is the same, it is something you are going to benefit from.

[Sowat]

Well investing Bitcoin to preserve the value or increase profit. In Bitcoin  I see it as both way to preserve the value of my money over a time an opportunity for a long term grow. and I also believe it a limited supply and increase adoption could make a valuable asset in future. And wealth from inflation and benefit from it potential long term price grow.

First of all, I concur that Bitcoin can act as both a store of value and an investment opportunity. One of the factors behind the potential of Bitcoin in the long run is its limited supply. Nonetheless, it is important not to base the investment solely on the future appreciation of Bitcoin prices.

It is crucial to regard Bitcoin primarily as a long-term investment, and not as an opportunity for making fast money. Any investor needs to be patient, not make hasty decisions amid the volatility of the market, and use discretionary funds only. From my point of view, such a combination, along with the scarcity of Bitcoin, allows attaining better results in the future.

[cxtreenal]

Everyone has their reasons for investing in Bitcoin and I would say that mine is actually to increase profit, I'm trying to save in Bitcoin because I know that saving in fiat is going to be pointless in a few years. Although It is still reasonable to save in Bitcoin to preserve and Also increase profits but whichever reason you have for investing the end goal is the same, it is something you are going to benefit from.

Of course, you need to have a profit oriented target but set a specific time frame for how long you will accumulate Bitcoin regularly. Avoid short term risk taking in the hope of making a profit. I mean avoid short term trading. Stick to a long term Bitcoin accumulation plan such as a suitable period of 4-10 years.

Stay on Bitcoin regularly and manage your activities until you build a decent holding. Consider every price drop as an opportunity and continue to buy as normal during periods of accumulation and price increases, and don't be tempted to withdraw your holdings because you will miss out on a big profit opportunity for a small profit.

[Futurexxx]

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.

I believe that most Bitcoin investors invest in Bitcoin because of privacy or other valid reason, but majority of all Bitcoin investors invest with the main purpose of making money from their investment.
The main idea of Bitcoin as a decentralized currency is to be used to pay for goods and services, but since investment opportunity was discovered in it due to it volatility, most people now are only interested in what they stand to gain which is profit making.

Bitcoin has proven to be a reliable asset that appreciates in value overtime, so their is a huge possibility of making a fortune from it if we invest in it and hold for long, so it's because of the possibility of making a lot of money from it am investing in Bitcoin, even though I loves it decentralized features.

[Ribust]

Well investing Bitcoin to preserve the value or increase profit. In Bitcoin  I see it as both way to preserve the value of my money over a time an opportunity for a long term grow. and I also believe it a limited supply and increase adoption could make a valuable asset in future. And wealth from inflation and benefit from it potential long term price grow.

First of all, I concur that Bitcoin can act as both a store of value and an investment opportunity. One of the factors behind the potential of Bitcoin in the long run is its limited supply. Nonetheless, it is important not to base the investment solely on the future appreciation of Bitcoin prices.

It is crucial to regard Bitcoin primarily as a long-term investment, and not as an opportunity for making fast money. Any investor needs to be patient, not make hasty decisions amid the volatility of the market, and use discretionary funds only. From my point of view, such a combination, along with the scarcity of Bitcoin, allows attaining better results in the future.

I fully agree with your opinion that investing in Bitcoin must be treated as a long-term investment and not a way for making a fast buck. Many novices commit this mistake, as they invest in this currency hoping for some instant returns, but when a correction happens, they start selling out.

It's also good to see that you highlight the use of discretionary funds, since it's much easier to wait while the price fluctuates if you invest money which you can afford to keep aside for some time.

All in all, I think that it doesn't matter whether one manages to predict the ups and downs of this currency. It matters much more whether a person possesses patience and sound risk management skills.

[Kelward]

Everyone has their reasons for investing in Bitcoin and I would say that mine is actually to increase profit, I'm trying to save in Bitcoin because I know that saving in fiat is going to be pointless in a few years. Although It is still reasonable to save in Bitcoin to preserve and Also increase profits but whichever reason you have for investing the end goal is the same, it is something you are going to benefit from.

Different Bitcoin holders get different reasons wey dem de take hold am and you fit to narrow di reasons down to profit and to preserve di value of dem naira, if you look closely dem de related because di two na to increase value and to get profit on top. But di major reason why most Nigerians including myself and most holders throughout the world de hold Bitcoin na for profit matter, if na for only to preserve value dem fit to hold USD or stablecoins. Bitcoin na store of value and any reasons wey you take de hold Bitcoin go give you benefit on the long run, additionally Bitcoin de decentralized so as you hold am for none custodial wallet na privacy and freedom e be for you.

[Out of mind]

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.

Basically, most people accumulate Bitcoin with the intention of getting a good profit in the future. People accumulate Bitcoin and are patient to keep it in value, those who plan for a long time always focus on two things. There are some people who sell only when the price increases, their plan is to withdraw profits in a short time but many times it becomes challenging due to market volatility. But those who actually plan to invest for a long time and accumulate Bitcoin and are patient in the hope of a good price get much more profit. If Bitcoin can be held patiently and the Bitcoins they have accumulated until its highest price can be kept, then of course the profit will be good. However, if it is planned for a long time, then the possibility of reversal is very low but accumulating Bitcoin for a short time can always be risky due to market volatility.

[Zanab247]

We have different mindset towards BTC investment, there are some to store their money to BTC they are interested, because they have a good plan toward money and if they leave the money in the bank it will not add any value to the money like the way it will give them comfort when hodling the BTC for the years to use it to come before they can sell to achieve what they want.

Investing in BTC has helped many students and graduate not to struggle in their academy journey, because it provide them all the tools and items they want to achieve.

[Jostern]

There are different reasons why people are investing in bitcoin, there are people who are investing in bitcoin with the Mindset of saving money in bitcoin, keeping money in the banks as fiat would actually just be sitting there in the bank and be doing nothing, and the banks would probably be taking their profits from there which is there bank charges, or they can be doing business with your money, depending on the type of bank account you have with the bank, but investing in bitcoin gives you an opportunity for profit even though the profit isn’t guaranteed, but money that is kept in the bank doesn’t have values.

However my reason for investing in bitcoin is to preserve value and keep saving my money in bitcoin, instead of keeping money in the bank for no purpose.

[Grace333]

The both options are good and usually the main reason most persons would want to invest in bitcoin. And this are the factors to consider when picking a long term investment asset. Bitcoin already has both features and more, which makes it exceptionally a great investment asset for long term irrespective of its volatility or the bear seasons that we experience sometimes. My personal reason for investing in bitcoin is numerous but the first thing that made me interested in bitcoin is the profit but then after I began my research I discovered a bunch of profitable features that bitcoin has over our fiat currency and that made me more curious and enthusiastic about bitcoin.

[Tonimez]

There are different reasons why people are investing in bitcoin, there are people who are investing in bitcoin with the Mindset of saving money in bitcoin, keeping money in the banks as fiat would actually just be sitting there in the bank and be doing nothing, and the banks would probably be taking their profits from there which is there bank charges, or they can be doing business with your money, depending on the type of bank account you have with the bank, but investing in bitcoin gives you an opportunity for profit even though the profit isn’t guaranteed, but money that is kept in the bank doesn’t have values.

However my reason for investing in bitcoin is to preserve value and keep saving my money in bitcoin, instead of keeping money in the bank for no purpose.

Leaving your money in the conventional banks is not a good option for any investment minded fellow because the naira is continuously getting devalued every day and inflation still on the rise. Saving money in bitcoin should be primarily based on preserving the value of your hard earned money in the future. Leaving a fiat saved will face bank charges, tax deductions and various unnecessary reductions. A given amount looses it's value almost in less than 6 months due to continuous inflation just like we see daily in our country.

The good thing about investing in bitcoin to preserve its value is that you still have higher chances of making profit over time in the long-term. But investing initially with the sole purpose of making profit can expose you into getting disappointed because you will become time bound for your profit, you can get distracted into gambling and you may fail in your bitcoin practice.

[Different patterns]

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.

Both goals can go together. I think a lot of people today invest into bitcoin to also protect their funds from inflation, and at the same time they will also like it to grow in value over the years. Which is not bad, but the must important thing is to have clear plan and not let the emotions to control your decisions, because the reason why people invest also affect how they react to market, because if your goal is to protect the value of your funds for long term, you won’t be too concerned about the short price, but if your main goal is to make quick profits, you become impatient and worried whenever bitcoin doesn’t go as your expectation.

[Bigjoe33]

but the must important thing is to have clear plan and not let the emotions to control your decisions, because the reason why people invest also affect how they react to market, because if your goal is to protect the value of your funds for long term, you won’t be too concerned about the short price, but if your main goal is to make quick profits, you become impatient and worried whenever bitcoin doesn’t go as your expectation.

That's just it bro. Your intention matters alot. Na the way you dey think, na the tin go prompt your reaction to market changes. If market go up, you go just dey smile, but if in go down, because say you dey after the market price and profits,you go just dey para, if time is not taken, you go vex sell your small BTC wey you don manage drop or buy. So e go just better say we just relax, even do say na profit wey dey go for, I believe say if you keep am to hold value, if the market rise too, you go still benefit am as well.

[Nheer]

but the must important thing is to have clear plan and not let the emotions to control your decisions, because the reason why people invest also affect how they react to market, because if your goal is to protect the value of your funds for long term, you won’t be too concerned about the short price, but if your main goal is to make quick profits, you become impatient and worried whenever bitcoin doesn’t go as your expectation.

This is where many people get it wrong, Dem go just dey blind dey let their emotions cloud their judgement cos of wetin Dem carry for mind. Dem just intentionally invest with mindset of getting quick gains because of how they see say Bitcoin dey profit people but they always getting it wrong, going after quick gains dey make person easily put him emotions. Na why I agree with wetin u dey talk so, when you know say Bitcoin dey perform well for long time you no suppose dey expect am to give you fast gains because long term holding is far more profitable than short period.

That's just it bro. Your intention matters alot. Na the way you dey think, na the tin go prompt your reaction to market changes. If market go up, you go just dey smile, but if in go down, because say you dey after the market price and profits,you go just dey para, if time is not taken, you go vex sell your small BTC wey you don manage drop or buy. So e go just better say we just relax, even do say na profit wey dey go for, I believe say if you keep am to hold value, if the market rise too, you go still benefit am as well.

Exactly, what your intentions are will definitely go with wetin happen with Bitcoin. I know say no Bitcoiner dey happy when Bitcoin price is going down but if your intentions na to just benefit from it you go even too vex when the price is down, you go even forget say price fluctuations na normal thing. Me sef believe say make we hold Bitcoin not just for profit but as a store of value for the future because I see am like an asset for the future.

[Itz-prisigold]

Both goals can go together. I think a lot of people today invest into bitcoin to also protect their funds from inflation, and at the same time they will also like it to grow in value over the years. Which is not bad, but the must important thing is to have clear plan and not let the emotions to control your decisions, because the reason why people invest also affect how they react to market, because if your goal is to protect the value of your funds for long term, you won’t be too concerned about the short price, but if your main goal is to make quick profits, you become impatient and worried whenever bitcoin doesn’t go as your expectation.

I really like the concept of having a plan because I feel that is the difference between long term investors and those who are reacting to all price movements.  If you have already define your strategy before you purchase, it's going to be much easier to ignore all the noise and follow through with it.

I also believe that the amount invested also plays an important role in every investment. If a person invests money that they really cannot afford to lose, they will be more concerned about short term price changes, whether they are looking for value or profit, but a person who is investing with his or her discretionary income is likely to be better equipped to remain patient and have a long term mindset.

So to me, it's not a question about preservation versus profit.  It's committing the money that's suitable for your finances and sticking to the investment plan even when the market challenges your faith.

[Big Dirams]

but the must important thing is to have clear plan and not let the emotions to control your decisions, because the reason why people invest also affect how they react to market, because if your goal is to protect the value of your funds for long term, you won’t be too concerned about the short price, but if your main goal is to make quick profits, you become impatient and worried whenever bitcoin doesn’t go as your expectation.

That's just it bro. Your intention matters alot. Na the way you dey think, na the tin go prompt your reaction to market changes. If market go up, you go just dey smile, but if in go down, because say you dey after the market price and profits,you go just dey para, if time is not taken, you go vex sell your small BTC wey you don manage drop or buy. So e go just better say we just relax, even do say na profit wey dey go for, I believe say if you keep am to hold value, if the market rise too, you go still benefit am as well.

For an investor we should be aware that the market will always go for highs and lows and when we invest in bitcoin let priorities much of long term value than the short term profits. Let hold for longer time and not be that moved about the market price even when the dips arise, many investors who always get worried so much about the market conditions are investors that are holding for short term because no long term investors will even be prompt with market movements or getting frustrated about the dips, long term holders knowns what they are after so even during this dips they make sure they take good advantage of it.