What prospects do some people overlook when investing in Bitcoin?

[Grace333]

People like big changes, but they fail to understand that big changes are products of small changes over time. I've been in that shoe before, where I visualize everything based on how significant the changes are, but that only got me nowhere because you can't eat your cake and have it. I used to believe grace would work out everything for me little did I know that your works are what is graced not you hopes or ideas.
Now I believe  in small start ups provided you will remain consistent, you might end up building something that will outlive you and probably build a legacy in your name.

[Versatile_choice]

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.

In as much as I will agree with on that, I also want you to know that bitcoin is not good in trading, the main reason why bitcoin was created is to make online payment easier for everyone. It was later we began to experience new things of which the builder didn't intend to use it in those areas, such as investment and trading, while some are using it as hegde against inflation. Just like you said that what anyone does with their bitcoin is left for them so long as it's reasonable in the end. I think you have just Said it all because we are not in a position to decide what they are going to do with it.

[Franctoshi]

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.

People overlook that Bitcoin is (money) they think it's only an investment asset class
People also overlook the freedom aspect that Bitcoin brought. People also don't want to learn some basic stuff about Bitcoin that's why they panic sell any time the Bitcoin price is falling because they don't understand what is happening and because of their interests on the profit side of Bitcoin.

[Mr_Brilliant$]

The main Koko be say make u no go follow the wrong path go lose your bitcoin. Newbies make them focus more on investing and build their bitcoin investment for the future because the way wey the country dey go nobody knows how the hardship go be for future. Na e .ake u wey get this opportunity to know bitcoin make you take the advantage invest buy more when you get extra cash.

Na better talk you talk bro, make newbie take their accumulation stage very very serious, and not just newbies alone, every other person. Because as you talk so no body know where and how this country Dey go at the moment..
And another thing were newbies still get to know very well na the knowledge, Becaue na the proper knowledge of go fit aim person to take Bitcoin AiakiDey

[CryptoHeadlineNews]

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:

I totally agree with you on what you just said above regarding basic prospects people overlook when investing in Bitcoin, because the Naira cost Averaging method is one common method that most people overlook, while forgetting that it is actually the most important one for any individual who wishes to have a good amount of Bitcoin in a long term. Because if only most of us had invested just #5000 or less since we knew about Bitcoin till this day, we all would have save a very good sum of it, but due to ignorance, we weren't able to do it because we never had an idea about it. And secondly, another aspect of Bitcoin which most people overlook is it's security, while keeping their Bitcoin on centralized exchanges where they do not own its private keys, forgetting the fact that not your keys, not your coin. And for that reason, no matter how small your Bitcoin portfolio is, always ensure to keep it on a non custodial wallet where you own its private keys.

[Obari]

You've done great with your writing and I wouldn't deny that but I believe this your advise is typically meant for traders and not holders because as a holder, one doesn't need to bother themselves with what you're mentioned but rather focused on how to continuously buy more coin at every given opportunity and I believe what a typical holder would be more interested in aside how to buy more would be patience and now not to touch their holding at every slightest provocation else a holder shouldn't be bothered with price movement or scalping

[IceLincoln]

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.

I agree everyone is entitled to do whatever they choose with their bitcoin, but it’s always better to do what’s right.
One spectacular thing about bitcoin is that you don’t need to know everything about it before you can start investing, it’s not like a traditional investment you would need to under study. Just merely having basic knowledge and your available discretionary income, you can start investing and it encourages you to learn and know more. You can start by risking small but as your knowledge increases your investment increases.

[AGogi2003]

The main Koko be say make u no go follow the wrong path go lose your bitcoin. Newbies make them focus more on investing and build their bitcoin investment for the future because the way wey the country dey go nobody knows how the hardship go be for future. Na e .ake u wey get this opportunity to know bitcoin make you take the advantage invest buy more when you get extra cash.

You talk well. When we don’t get knowledge about Bitcoin, make we use am well, and focus about am, and we go enjoy am later.Now we don’t know the future. When we get the opportunity to invest, we should invest with the money we can be able to use, so that we won’t feel worried or bad when the price is not going as planned. If we get sources of income, e go always dey easy to continue topping our coin, and be using the DCA method.

Holding is always the best option for newbies to start, not just going into trading. But many of us don’t really have that patience to hold for the long term.

[Abu-Naim]

Well outlined points, these are some important points people ignore thinking it is just to buy and hold, they don’t know that once you have decided to invest in Bitcoin, you are among the Bitcoin enthusiasts, you will have to learn the basics and understand Bitcoin because you will likely encourage people to invest to have peaceful mode of keeping money for future reference due to how it keeps value because inflation is among what we are battling with now and always.

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.

This is the must important aspect to take serious; you can’t just buy Bitcoin without knowing where to keep the Bitcoin, how to secure the place and how to send and receive your Bitcoin; you will need extensive knowledge about your wallet security before you can invest in Bitcoin.

[Jubilee58]

To make the most profit in bitcoin, investors should familiarize themselves with long term investing. Investors who are in a haste to make money now prioritize trading Bitcoin which involves very high risk, and can make you loose your fund within a very short period of time. Long term savings in bitcoin is very important because that is the only way you can gain financial stability on the long run. Saving your money is not encouraging because your money will keep depreciating due to inflation, and wrong monitary policies, but when you compromise savings in bitcoin you only end up facing financial relapse.
 More also when investing your money in bitcoin also gives you financial security because your money retains value, and also increase in value with time.

[CryptopreneurBrainboss]

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.

I don't blame them as comfortability has always been the default of humans existences. Everyone is looking for how they can make themselves comfortable and that's also the reason behind them investing into Bitcoin but what they fail to realize is that their has to be some sacrifice today for there to be comfort tomorrow, but what they try to achieve is for the comfortability to be given now and also tomorrow but that's not how it's meant to be.

In search of this comfortability they make the mistake of passing on the responsibility of safeguarding their investments to centralized services like CEX then they wait for their investment to mature but that's the mistake that cost them later in the future as they can be out of the blue denied of all their efforts of accumulating Bitcoin.

I don't wish this on anyone but that's the end result 99% of the time as if you go searching for comfort when self custody is meant to be the priority then you will end up with regrets for overlooking this prospects.

[Miles2006]

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.

Bitcoin investment is a long term investment plan, traders might likely see a short term gain for just once and the rest other times they’re likely to experience loss because timing the market price is very different. Don’t get deceived by quick profit, newbies usually take this advise for granted without considering the risk attach to selling early especially when the market price is not favorable, investors who follow the short term profit strategy usually use the bearish season as an excuse unknowingly to them this season is actually the best season to buy and hold bitcoin, basically bitcoin knowledge is needed to help investors from making mistakes as such.

[Rhow]

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.

You're right, you don't have to wait for the price to drop. The main advantage is that once you have discretionary income, you can buy immediately based on your financial situation. For me, buying in small amounts regularly and saving for the long term is more realistic.

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.

I think those who want to be in the process of saving Bitcoin for the long term never ignore self-custody. Rather, it may be that the person using the exchange is still a new investor and has little knowledge about wallets, so he has chosen the exchange for some time. If someone is completely new to investing and does not have knowledge about his own wallet or his own custody, then starting from the exchange may not be bad. Rather, if he does not understand and does not keep a backup after saving in his own wallet, it can be even more risky if he loses the seed. Self-custody is definitely important, which is why most people use their own wallets. However, those who do not have knowledge about self-custody or do not understand that if they keep it on the exchange for a long time, they become dependent on a third party.

[Ashawowo(OS)]

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.

Yeah, and in order to be able to do this, one has to have a good source of income, you cannot invest, let alone hold it for long if you're not earning enough to take care of your expenses and still have leftover, which is the discretionary income which you should invest from. Trading on the other have made lots of people lose money, most of who don't really understand anything about it, but go into it because of greed or believing marketing contents that they see online and misinterpret it for reality.

I agree that investing, especially with DCA eliminates stress. You may not lose at all in Bitcoin if you hold long enough. Bitcoin investment also gives you the opportunity to live your normal life without tying your emotions to it. You only need to keep making more money in order to continue enlarging your portfolio periodically and commit to long-term holding.

[Thewatchman]

Why it works: The knowledge we achieve in learning Bitcoin can be an opportunity for jobs and consulting for the long run.

Yes, I agree with you here, been in the crypto industry for longer period of time, you become an expert in the game even though no profits yet, the longer you engage in the crypto world the knowledgeable you become, that's the point where the ability to be a consultant will eventually pops up. People be meeting you for advise and stuffs because your knowledge is grounded and can tell what will happen in the market or not.

[Showlove01]

Why it works: The knowledge we achieve in learning Bitcoin can be an opportunity for jobs and consulting for the long run.

Yes, I agree with you here, been in the crypto industry for longer period of time, you become an expert in the game even though no profits yet, the longer you engage in the crypto world the knowledgeable you become, that's the point where the ability to be a consultant will eventually pops up. People be meeting you for advise and stuffs because your knowledge is grounded and can tell what will happen in the market or not.

Staying longer in the crypto space can actually make someone has more knowledge no doubt but it doesn't make them or it doesn't guarantee success but rather what guarantee success is the ability for someone to make use of the knowledge they have differently. Knowledge is powerful that is true but in the aspect of Bitcoin investment and trading you need more than just knowledge, because you will need to set your own rules and principles which will help guide you to your goal

[Localhostspeed]

You talk well. When we don’t get knowledge about Bitcoin, make we use am well, and focus about am, and we go enjoy am later.Now we don’t know the future. When we get the opportunity to invest, we should invest with the money we can be able to use, so that we won’t feel worried or bad when the price is not going as planned. If we get sources of income, e go always dey easy to continue topping our coin, and be using the DCA method.

Holding is always the best option for newbies to start, not just going into trading. But many of us don’t really have that patience to hold for the long term.

You have a valid point in what you said. I was thinking the other day about this cold matter wey happen, many people that were affected about thing understand about Bitcoin, in fact most of them are tech guru about Bitcoin but one mistake was why they couldn't avoid it, maybe it wasn't their fault but if they have used a passphrase on the wallet, the scammers will not be able to get to them. They would have been able to avoid such, it's the things we overlooked that matters.

If you are going to make Bitcoin investment, make sure that you have the basic knowledge of Bitcoin and importantly, try as much as possible to avoid anything related to scams. Some people will used years of their life doing DCA, doing all sort of investment but due to not understanding how to avoid scams, they lose every thing to scammers again. When they should be prepared about scams, and protect their wallet, they didn't bother to check.

[JoyceBTC]

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.

Na true talk u talk here, for there mind them feel like say no be them need to secure their bitcoin or their bitcoin they secured already, meanwhile na them supposed secure their bitcoin by securing their seed phrase. Some people up till date still Dey carelessly keep their seed phrase even with all the awareness but I no pray for anybody to lose their bitcoin that way. Good thing say so many people no Dey fall victim again.

[Ndabagi01]

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.

People overlook that Bitcoin is (money) they think it's only an investment asset class
People also overlook the freedom aspect that Bitcoin brought. People also don't want to learn some basic stuff about Bitcoin that's why they panic sell any time the Bitcoin price is falling because they don't understand what is happening and because of their interests on the profit side of Bitcoin.

Na so this one be sha. This wan na general something and many of us for here dey treat bitcoin like asset like we dey treat am as money wey we fit dey use for our day to day activities. Even though we dey invest to make money through Bitcoin neh, we no suppose still allow ourselves no carry the security of our funds put for head. E get as e be and anyone wey know say them no fit carry the security of their funds serious, even if you no panic sell, you go still invest for long time and at the end you no go fit benefit from the investment because say them compromise your wallet. Security na him be the koko of all, even as we dey patient with our money, I go still want make we no joke with security of our funds always. FOMO, FUD na all part of the market, so make you no dey move by them as them dey show their face for you for the market.

[Promocodeudo]

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.

You're right, I think newbies should pay more attention to this because a successful holding starts with how secured and safe your hodling wallets is.
Though this is not the basic thing to know as a newbie but it is very important to know how to keep your seeds safe safe to avoid hodling in vain, apart from newbies, every other person need to be aware of this, because as Bitcoiners security should be our utmost priority, we are not supposed to be careless with something as important as the access to our wallet that house our Bitcoin asset.