What prospects do some people overlook when investing in Bitcoin?

[BItcoin Guy@]

Alot of people think it’s just buying Bitcoin and waiting for the price to pump. Some ignore the other way out that Bitcoin can work for them.

Some of the opportunities many of us ignore in Bitcoin investment:

1, Naira Cost Averaging (NCA): By just waiting for Bitcoin’s price to drop before you buy it, it’s most advisable and comfortable to buy small amounts weekly or monthly. That one is better. But people ignore it because it looks stressful or boring to them.
Why it works: You don’t feel frustrated because you didn’t use risk funds. You used average out of the volatility.

2,Learning and Skills: Bitcoin always forces investors to learn and makes them understand how it works better. It makes us secure our coins and practice self-custody. But many of us ignore that, we just want profit.
Why it works: The knowledge we achieve in learning Bitcoin can be an opportunity for jobs and consulting for the long run.

3,Bitcoin as Savings, Not Always Trading: We should always keep our coins for the long term, not just for trading. But many investors ignore it because they just want to be profitable in just a few weeks in Bitcoin.
Why it works: It reduces a lot of stress, and you won’t lose too much, with less chance of revenge trading.

4,The Patience Opportunity: A lot of people focus on fast profit and forget about the chance to build conviction during a bear market, when no one is involved or watching you. That is when knowledge and cheap prices are easiest to get.

5, Security and Self-Custody Skills:Bitcoin makes us learn about hardware wallets and seed phrase backups. But some ignore that because they feel like exchanges look better and easier to them. And a wallet is the perfect solution to secure your Bitcoin.
Why it works: many experience investors always said Not your keys, not your coin, And that is the fact. Just that has saved many investors from exchange collapse. We always need to be thinking wisely when dealing with crypto, with the knowledge we gained.

[EarnOnVictor]

What anyone does with their Bitcoin is left to them, so long as it's reasonable in the end. Bitcoin is being used for three major reasons/purposes: Payments, Investing and Trading. Anyone could explore either of them without any issues, but the approach matters a lot. This calls for understanding of Bitcoin before thinking of using it for anything. As this defines whether you will be profitable with it or otherwise.

[Donk1]

​Well if I may say our emotions ,mindset, psychology, strategy, analysis, and plans all play major roles in our Bitcoin investments or Bitcoin trading. To me I believe when it comes to Bitcoin, every aspect is as important as the other.So as users we should ensure to create awareness not only on predicting market price, but also learning how to actually own and secure our money. Because most folks like keeping their money in exchanges because they feel it's convenient but the truth is it's not. Even compared to traditional banks exchanges are way more risky, as several of them have been hacked through the years.That's why when we are learning in the space it's good to always go deeper beyond just how to grow long term wealth or how to make short term profit. As a matter of fact, we should prioritize self custody for our investments. That's just it true decentralization comes from taking responsibility and being your own bank.....

[Tetu100]

Make we calm down the way newbies dey come up everyday. This days once I just spot any new account for the forum wetin dey come straight for my mind be say na person alt, every where dey hot at the moment make we self rest. Abi na our own economy bad past. Op abeg no reason am oh sometimes self I fit no dey accurate in my speculation but based on matters on ground we need to dey very careful abeg make matter no hold us for neck.

3,Bitcoin as Savings, Not Always Trading: We should always keep our coins for the long term, not just for trading. But many investors ignore it because they just want to be profitable in just a few weeks in Bitcoin.

Being a real investors in Bitcoin require strong holding power, you can't be doing buying and selling at the same time say you are an investor. That's not how it's done. Bitcoin had proven to appreciate in value overtime and if you lack that ability of holding strong then their is no way you can enjoy the full potential of Bitcoin investment.

Another thing is that, many people come in with the mindset of getting it fast. That's wrong, it's not a get rich schemes that you will be expecting some magic to just happen, you must put in some work to result success. However, if as an investor that you claim to be and you can't hold regardless, then you are only misleading yourself because such people are classified as a fair weather investors that are just there to take quick profits and nothing else.

[Itz-prisigold]

I do agree with the OP that Bitcoin is not just about buying and waiting for the price to increase. There are still other things every investor gain from Bitcoin investment journey, things like investors learning how to manage he's or her money, you'll also understand how bitcoin truly works, bitcoin will teach you how to be patient with your investment, and you can also learn how to properly protect your coins very well.  Another benefit that comes with investing in Bitcoin is the knowledge you gain along the way, and you'll also learn how to be disciplined.

But something I will like to say is that; just because you're using DCA strategy doesn't mean that will remove the risk of losing money, just holding Bitcoin for a long period of time does not guarantee that your investment will be successful. And lastly, self custody doesn't automatically mean that you're are safe, if you lose your seed phrase then your coins is as good as gone.

[Livingleged]

Make we calm down the way newbies dey come up everyday. This days once I just spot any new account for the forum wetin dey come straight for my mind be say na person alt, every where dey hot at the moment make we self rest. Abi na our own economy bad past. Op abeg no reason am oh sometimes self I fit no dey accurate in my speculation but based on matters on ground we need to dey very careful abeg make matter no hold us for neck.

Wetin you dey worry about? Wetin make you think say new people will not get introduced to bitcoin community like this? Why you go they assume every new account you stop Na alt ? Was the forum not supposed to generate traffic in adoption of bitcoin? Let be positive and open minded  so long as you’re doing the right post I think you no suppose to worry except if you dey do otherwise!
Op post self actually captures good point and doesn’t seem like a spam. Abeg newbie also needs encouragement and not backlash, you also started from somewhere and grow gradually with active learning.

[SmartCharpa]

Make we calm down the way newbies dey come up everyday. This days once I just spot any new account for the forum wetin dey come straight for my mind be say na person alt, every where dey hot at the moment make we self rest. Abi na our own economy bad past. Op abeg no reason am oh sometimes self I fit no dey accurate in my speculation but based on matters on ground we need to dey very careful abeg make matter no hold us for neck.

You get reason for saying this is because the forum get as e take be these days. But if you check the Op account, the account was registered from the beginning of this year, and from the look of the situation Op wake his account from sleep after this whole situation started. This is not the first time we don see newbie account claiming they understand everything before joining this space. We even get some of them who believe they understand this forum pass people wey don dey here for many years now.

Another thing is that, many people come in with the mindset of getting it fast. That's wrong, it's not a get rich schemes that you will be expecting some magic to just happen, you must put in some work to result success. However, if as an investor that you claim to be and you can't hold regardless, then you are only misleading yourself because such people are classified as a fair weather investors that are just there to take quick profits and nothing else.

Many people no get the patience to hold something like Bitcoin for a long time. Before some people can invest in bitcoin they will first ask when they will make a profit and how much money they will make in return. Patience, discipline and consistency are very important in bitcoin. Those who prefer short term gains, after they are tired of wasting money, will realize that long term investment is the best option.

[Doan9269]

I will not talk about the investment strategy that most of us have already pointed out over, but let's consider the security aspect and see how many people are being mindful of the needed security measures over their Bitcoin before and after investing, so many are not paying much attention to this aspect and that is why you could discover today that there is numerous vulnerabilities unknown to users about how they handles their bitcoin wallet, the only way we can secure ourselves from any form of attack is by learning to know more when it comes to how we can saveguard ourselves from such attempt.

[MainIbem]

Very educative post for beginners, Bitcoin offers inflation hedge and has good investment strategy, the DCA you mentioned is the best anyone could consider and using it as an inflation hedge demands holding longer instead of always trading which mostly attract lose than gains especially for beginners. The security of Bitcoin is the most important aspect of it that shouldn't be overlooked, holding Bitcoin requires self custody which means we're responsible for the security of what were holding and should store it properly in a good and reliable wallet that's tough to hack as well as keeping our seeds private.

[Dr.Bitcoin_Strange]

What most newbies usually overlook is the security of their Bitcoin, they first start with keeping their coins on the centralized exchange without realizing the risk of doing so, like myself, I once used to keep my coins on the centralized exchange and then when I came to the forum, I learned "not your key, not your coin" Which made me move my coin to self custody wallet. Regarding the trading of Bitcoin that you mentioned, it's not everyone that goes into trading because they easily know the risk attached to trading, even some people that still choose to become traders still have their Bitcoin holding seperate from their trading capital.

Is not everyone that goes straight to trading Bitcoin without investing first, so I don't see this as the big problem, the real problem is when someone doesn't acquire the right knowledge that will guide them to become successful in Bitcoin investment and also how to protect their coins.

[B-BossMan]

I do agree with the OP that Bitcoin is not just about buying and waiting for the price to increase. There are still other things every investor gain from Bitcoin investment journey, things like investors learning how to manage he's or her money, you'll also understand how bitcoin truly works, bitcoin will teach you how to be patient with your investment, and you can also learn how to properly protect your coins very well.  Another benefit that comes with investing in Bitcoin is the knowledge you gain along the way, and you'll also learn how to be disciplined.

But something I will like to say is that; just because you're using DCA strategy doesn't mean that will remove the risk of losing money, just holding Bitcoin for a long period of time does not guarantee that your investment will be successful. And lastly, self custody doesn't automatically mean that you're are safe, if you lose your seed phrase then your coins is as good as gone.

Sured, people truly tends to ignore or sometimes overlook many things in bitcoin investment, especially thier habits towards Bitcoin price movement, some people may come into bitcoin today and all his thoughts is to looking for a right price, but the truths is, how to control your own reactions towards the market movements, and this is the one of the challenges that many people seems difficult to understand.
Example, even a 30% suddenly drops can tells Whether you truly have plans or you are just coming for quick profits or quick rich.

Ignoring every market movement throughout the bitcoin journey is the best, so that even you hold Bitcoin like 4 to 10 years later it would be more valuable, then person's mindset is also matters alots.

[Makus]

I think people are taking advantage of the DCA strategy and it is not something people overlook because it is one of the ways that makes investment easier and since a lot of people don't have huge amounts of money to invest, this is the Best strategy that make use of. DCA is what has helped a lot of Bitcoin investors to be able to make progress In their investment.

The security aspect is what a lot of investors overlook, not a lot of beginners think about keeping their seed phrase safely and as a result of this they lose access to their coins. With constant awareness being created this has become a thing of the past and a lot of newbies are becoming more conscious of this.

[Charles-Tim]

Yes, it is good to be very patient. Holding is the most important thing about bitcoin. Bitcoin holders are not losers.

1, Dollar Cost Averaging (DCA)

You are on Nigerian local board. Nigeria are spending naira and not dollar. So why mention DCA instead of naira cost average (NCA)? It is better you edit it to NCA so far the post is for Nigerians and not countries that spend dollar like the United States.

[Hatchy]

5, Security and Self-Custody Skills:Bitcoin makes us learn about hardware wallets and seed phrase backups. But some ignore that because they feel like exchanges look better and easier to them. And a wallet is the perfect solution to secure your Bitcoin.
Why it works: many experience investors always said Not your keys, not your coin, And that is the fact. Just that has saved many investors from exchange collapse. We always need to be thinking wisely when dealing with crypto, with the knowledge we gained.

On a long term, as long as you are really serious with your bitcoin investment there are so many knowledge you acquire along the line. A good number of investors ingots the fact that bitcoin investment might require little knowledge but needs enough experience to make reasonable amount of profits from the market. Without experience you see people selling out of the market because of a sudden drop in price. The make decisions out of panic, fear and frustration. They have no room for patience because they are scared that while they wait, the market might take more or take back what it already gave.
The most important aspect of our investments remains having a sound knowledge and experience on different difficult times. Without that, you will be a lost sheep because you have no idea what to do..

[AVE5]

Alot of people think it’s just buying Bitcoin and waiting for the price to pump. Some ignore the other way out that Bitcoin can work for them.

Some of the opportunities many of us ignore in Bitcoin investment:

Just know that no matter how much smart you're to catch up the opportunities that accompanies bitcoin that you can't partake in all of the opportunities it brings. That's why we've the trader's interested in the short term goals and investors with the long term goals.
Opportunities in the market maybe surplus but the question is if can you meet up the tasks on your finances to Dca in buying MORE without affecting your financial obligations? You don't more than yourself when investing in bitcoin others wise when the odds strikes as a repercussions you'll be forced to take unwilling decision.
Already anyone investing in bitcoin should also bear in mind of the risks in price fluctuations and get prepared to hold patiently until you meets your goal.
Nothing really much on the missing out. Risk factors and affordability of individuals matters too.

[Crypto_Timothy]

You will definitely overlook all these things you listed here and alot more if you fail to do proper research before investing in Bitcoin. I think hats the number one anyone who is new and in a hurry usually fails to do (proper research). If investing in Bitcoin requires you to learn a skill or 2, during your research phase you will discover that and then you either learn the skill or know what to substitute. One of the easiest way to do research is to ask questions especially on the forum or anywhere you know you can get a good reply, just be curious enough to ask questions and you will see how exposed you will be to information.

[MorganaX]

The security aspect is what a lot of investors overlook, not a lot of beginners think about keeping their seed phrase safely and as a result of this they lose access to their coins. With constant awareness being created this has become a thing of the past and a lot of newbies are becoming more conscious of this.

This na something way you supposed carry out for front, especially if you know say na long term plans you get for the investment. Saving your Bitcoin for long need atleast valuable place wey you sef fit get assurance say nothing go happen to ak especially with the many drama wey dey happen for the crypto space, especially about people losing their money and investing due to poor security levels.