When Bitcoin Becomes Popular, Who Teaches the New Users?

[Nightwatchmare]

I like it always when we talk about money here we should stick to our currency, most of us here buy bitcoin with our Naira even if we have to convert to a stable currency so using terms like NCA instead of DCA for example is more appropriate. Like in this case I’ll prefer it to be “before paying with our first Naira for bitcoin “.

Had the been we are buying Bitcoin with Naira and we are not converting Naira to dollar to buy Bitcoin i would have supported your idea that we should use Naira cost averaging (NCA) instead of dollar cost averaging (DCA) but as we are buying Bitcoin with usdt in a centralized exchange it is right we stick with dollar cost averaging (DCA). However, If you are not okay in using dollar cost averaging when you are talking about Bitcoin investment fine you can stick with what is best for you but do not expect OP or anyone else in this local board to use Naira cost averaging(NCA) instead of dollar cost averaging (DCA).

[Abu-Naim]

Adoption without knowledge can create more victims than Bitcoin users.

Bitcoin adoption without knowledge can actually lead you to lose money because Bitcoin is a digital currency, you will need to have some knowledge about it before you can completely buy or hold Bitcoin.

Normally, the person who introduce you to Bitcoin in particular should have explained it for you and how it works, if they don’t explain to you, their job is not done yet because they don’t tell you how to go about it which you are supposed to ask if you know what you are doing.

It could be helpful if we could as a local community prioritize Bitcoin basic safety training and knowledge before trying to shove people into Bitcoin and encourage them to spend . One who can secure and protect his Bitcoins is worth much more to the ecosystem.

What should be learnt first,before paying with our first dollar forBitcoinin Nigeria?

It will be helpful, but locally but globally. Everyone that is involved into Bitcoin investment should prioritize learning about wallets, security, keys and address and other important aspects of Bitcoin, if they can have good understanding of these knowledge, they can invest in Bitcoin without any fear of losing money through mistakes.
Bitcoin investment should save us from inflation and the parties not to put us into a risk of losing our money due to mistakes.

[Callido]

It could be helpful if we could as a local community prioritize Bitcoin basic safety training and knowledge before trying to shove people into Bitcoin and encourage them to spend . One who can secure and protect his Bitcoins is worth much more to the ecosystem.

You can take a horse to the river but you cannot force it to drink. If anybody brings someone into Bitcoin, I think they have done enough for the person, at all nobody brings someone into something new and not tell them how it functions. The forum contains every Bitcoin related information, there is no harm in describing the forum to someone new who got interest in Bitcoin, everyone deserves a profound understanding about Bitcoin.

[Jegileman]

You can take a horse to the river but you cannot force it to drink. If anybody brings someone into Bitcoin, I think they have done enough for the person, at all nobody brings someone into something new and not tell them how it functions. The forum contains every Bitcoin related information, there is no harm in describing the forum to someone new who got interest in Bitcoin, everyone deserves a profound understanding about Bitcoin.

Not everyone has the time to explain to whom they’ve introduced into bitcoin, some of them just tell them about the best part of investment and not open up everything to them. The advantage and disadvantages of gambling should be known to all, because investing in bitcoin is very vague but yet profitable when you do it the right way. The security of your bitcoin is much more important than you getting to own them. As long as your security is not safe, you could be compromised off your funds and lose everything.

[Odogwu-Blockchain]

Not everyone has the time to explain to whom they’ve introduced into bitcoin, some of them just tell them about the best part of investment and not open up everything to them. The advantage and disadvantages of gambling should be known to all, because investing in bitcoin is very vague but yet profitable when you do it the right way. The security of your bitcoin is much more important than you getting to own them. As long as your security is not safe, you could be compromised off your funds and lose everything.

what do you want to teach them about security when Binance and Bybit is in every Nigerian phone, a centralized system that can be vulnerable to hackers, Nigerians only have their coins in trust wallet only if they want to run investment opportunities on a decentralized level by connecting wallet. Another way are those who receive income from crypto related companies that disbursed in Bitcoin, users usually submit Trust wallet address for payment.

So it's hard to teach newbies who aren't earning to be secured while purchasing and storing crypto, because where they end up at is on a centralized platforms.

[CryptopreneurBrainboss]

It will be helpful, but locally but globally. Everyone that is involved into Bitcoin investment should prioritize learning about wallets, security, keys and address and other important aspects of Bitcoin, if they can have good understanding of these knowledge, they can invest in Bitcoin without any fear of losing money through mistakes.
Bitcoin investment should save us from inflation and the parties not to put us into a risk of losing our money due to mistakes.

The mistakes can be avoided by learning before participating in the industry but people go the other way round and that's the genesis of their problems. Most person don't know about decentralization or understand how the Blockchain works. Bitcoin is getting popular without the right things been popularize.

Bitcoin price is what's getting popular as some people don't even know how to run a proper non custodial wallet because of how easy it to use centralized wallets and apps have been made then linked with Bitcoin through marketing campaigns.  It's now looking like a price we should be paying for adoption.

But that shouldn't be the case so we can also help by teaching newcomers what it's like to use Bitcoin in a decentralized way as that's the little we can do to keep the industry alive as the influencers play their part in educating new users rightly too.

[GiftedMAN]

Not everyone has the time to explain to whom they’ve introduced into bitcoin, some of them just tell them about the best part of investment and not open up everything to them. The advantage and disadvantages of gambling should be known to all, because investing in bitcoin is very vague but yet profitable when you do it the right way. The security of your bitcoin is much more important than you getting to own them. As long as your security is not safe, you could be compromised off your funds and lose everything.

If you don't have the time to explain to the people you intend to introduce into Bitcoin investment I wouldn't suggest you try to introduce them because some of them will not have the time to make personal research they will move by all that was discussed between you two and it may not be enough to guide them to what they will be doing. The profit aspect of Bitcoin is what most newbies talk about but most of them lack the knowledge required to make profit if someone who has invested a lot of money in Bitcoin do not understand the importance of security then be rest assured that it's going to be difficult for such person to survive hackers. Knowledge should come before profit this is what new investors should be taught.

[DPHOR]

Adoption without knowledge can create more victims than Bitcoin users.

It could be helpful if we could as a local community prioritize Bitcoin basic safety training and knowledge before trying to shove people into Bitcoin and encourage them to spend . One who can secure and protect his Bitcoins is worth much more to the ecosystem.

What should be learnt first,before paying with our first dollar forBitcoinin Nigeria?

One thing that I believe is that before anyone is introduced here they wouldn't mind giving them the thorough information regarding their investment. Investing in bitcoin without them having the right knowledge to follow up their investment is actually very bad, as an investor, having basic knowledge on what you are doing shows more reformed or informed you could be for at least knowing the basic security problems and privacy as well because they are major factors for their investments.

[SmartCharpa]

Adoption in Bitcoin is on the increase but I think a lot of what we put emphasis on is getting people onto Bitcoin and what happens to them after they are here. Most newly converted Bitcoin user, know how to buyBitcoin but do they understand about seedphrases,fakewallets, phishing links ,that one transaction cant be undone, to check information before paying and many others ? In Nigeria especially where much of crypto is picked up via social media and personal contact, this can pose a grave threat.

Adoption without knowledge can create more victims than Bitcoin users.

It could be helpful if we could as a local community prioritize Bitcoin basic safety training and knowledge before trying to shove people into Bitcoin and encourage them to spend . One who can secure and protect his Bitcoins is worth much more to the ecosystem.

What should be learnt first,before paying with our first dollar forBitcoinin Nigeria?

If you are new to bitcoin, you should learn how the transaction is done. You should also learn how to keep your wallet safe, because if you lose your wallet, which means you lose access to your money. Newbie should learn that Bitcoin is all about ups and downs, so that they don’t panic if the market go down. Many people invest with the hope of making huge returns in a short time, but Bitcoin involves risk and people should understand making profits is not 100% guaranteed because anything can happen.

However, it’s not everyone that understands that risk involves in bitcoin. So do not allow anyone to get access to your wallet, even though they introduced you to Bitcoin. You invest with your money, they can take your money without your knowledge. Internet is there and we have this wonderful forum, you can learn more and how to keep your wallet safe.

[Byebyebtc]

Telling someone about Bitcoin also means you should tell the person both of the good part and the risks involved and also security measures on how to avoid them.
But one thing important is to be careful in how you give out the information, it should not sound threatening to the extent of making the individual to conclde the risk not to be worth it,

But I do feel that the knowledge is a natural follow come with Adoption,as time goes on if your a observant person you will get to know about security measures to protect your coin, especially if your a member of Bitcoin forums like this.
But regardless we should fulfill all righteousness and educate on the security measures of protecting your coins

[liasbaa]

Adoption in Bitcoin is on the increase but I think a lot of what we put emphasis on is getting people onto Bitcoin and what happens to them after they are here. Most newly converted Bitcoin user, know how to buyBitcoin but do they understand about seedphrases,fakewallets, phishing links ,that one transaction cant be undone, to check information before paying and many others ? In Nigeria especially where much of crypto is picked up via social media and personal contact, this can pose a grave threat.

Adoption without knowledge can create more victims than Bitcoin users.

It could be helpful if we could as a local community prioritize Bitcoin basic safety training and knowledge before trying to shove people into Bitcoin and encourage them to spend . One who can secure and protect his Bitcoins is worth much more to the ecosystem.

What should be learnt first,before paying with our first dollar forBitcoinin Nigeria?

There is a lot of practice in Bitcoin forums to learn about Bitcoin. Many newbies ask questions and many knowledgeable people answer them. There are many instructions on how to manage a secure wallet in the early stages of Bitcoin. Search this thread pinned on our Naija board and you will learn a lot of important things. If you have a question to ask, let's create a thread and you will definitely find the best answer.

The interesting thing is that if a member asks a question through the discussion on the forum, the question is similar to the question asked by many newbies, so many newbies can learn about it through the answer. Especially our Naija community will answer your questions very sincerely.

[Loyang]

It is necessary to have some idea at the beginning. For example, what is Bitcoin and why investing in it will be the right decision, how does the value of Bitcoin increase and it is necessary to have some idea about security. Because when you do not have an idea about security, you may be a victim of fraud. For example, if you make a mistake now and after 5 years or more, if your holding is much higher and if a hacker sees the mistake made 5 years ago, he may be able to harm you. From small mistakes to a big mistake, it changes.

From the beginning, we have to take every step very carefully and make sure that we do not have half-knowledge on every subject. Although we do not need much knowledge to start investing, but we must learn the things that are needed well. Such as wallet, exchange, purchase, emergency fund, discretionary income, etc. Before starting these things, a new person needs to know them well and take the right steps. After that, you can start investing and continue to gain knowledge after you start investing.

[obuoma]

Bitcoin is already popular, the news of it is everywhere including mainstream media and social media. It is absolutely difficult for someone with a smart phone that is connected to the internet not to hear about Bitcoin. Even if people stop teaching Bitcoin in the streets, the next generation will learn about Bitcoin through curiosity which will make them type few sentences in Google search engine and all they need will be in their finger tips. You know that by then AI would have gone past where we are now, so the knowledge will be available for anyone that wants to learn and put it to practice.

[Su-asa]

Adoption in Bitcoin is on the increase but I think a lot of what we put emphasis on is getting people onto Bitcoin and what happens to them after they are here. Most newly converted Bitcoin user, know how to buyBitcoin but do they understand about seedphrases,fakewallets, phishing links ,that one transaction cant be undone, to check information before paying and many others ? In Nigeria especially where much of crypto is picked up via social media and personal contact, this can pose a grave threat.

I truly understand your concern here, but from my perspective, they will also know all those things you mentioned above in the future if they keep on showing interest in Bitcoin. Not everything can be learned immediately; most of those things will take time to learn. They have to learn them gradually, and they can't know those things if they haven't started accumulating Bitcoin. To me, the most important thing Bitcoiners should put more effort into is knowing how to secure their Bitcoin wallet and nothing more; every other thing can be added alongside.

But I do feel that the knowledge is a natural follow come with Adoption,as time goes on if your a observant person you will get to know about security measures to protect your coin, especially if your a member of Bitcoin forums like this.
But regardless we should fulfill all righteousness and educate on the security measures of protecting your coins

That's absolutely correct; that's even what I'm talking about. Someone with common sense knows they would need to secure their crypto asset with full caution; there are many scammers out there, and not just scammers; they might even misplace their seed phrase if they don't keep it in a safe place.

[Dreadboost]

The one who introduced the new users to Bitcoin has to share the knowledge they have with the new users. Introducing someone to Bitcoin without proper guidelines and schooling is like taking someone to the river to fish without giving them a hook and net to catch the fish. Bitcoin knowledge is not a one-day journey, but the basics of understanding Bitcoin blockchain, security, and its use are what is easier for a beginner to understand.

If a new user meets me to teach them, I will do it on one condition. Whatever happens to their Bitcoin later in the future won't be blamed on me. I know of stories where Bitcoin traders and investors blame the person who introduced them to Bitcoin for their misfortune. Using Bitcoin is not compulsory.

[MainIbem]

According to your topic, I just want to let you know that Bitcoin is already popular, it is the most popular digital currency so that statement "when Bitcoin becomes popular" is irrelevant cause Bitcoin is already popular. Well the knowledge of Bitcoin would always be available to tbose who're interested in learning about it, i believe that it was part of the reasons why this forum was created so knowledge about the project would be passed unto people who're interested in it, in the future.

[Promocodeudo]

When Bitcoin becomes popular, are you for real with that statement, if Bitcoin is not popular, then how will you address Bitcoin? As an unpopular digital asset or what? Moving on, learning is a continuous thing, as popular as Bitcoin is right now, people can easily get the knowledge, when they make there research if possible, although there's nothing much to learn for a star, since what everyone need to start is the basic knowledge, but in case of trying to know more, AI is there, apart from AI, there are also some sources that one can read news that relates to Bitcoin from, like Bitcoin magazine and many other sources, but the major thing is the zeal and determination to learn, let's not forget that it will be difficult for anyone to learn what he doesn't find interesting even if such innovation is popular, so the thing is that, new user must not be taught directly by someone, they might get their information from online sources, and maybe ask questions from those they think that can help them out with some explanation, which means, they have to be ready and prepared to learn.

[Queen uloma]

Before a person buys bitcoin, they must first learn how to protect it. They need to understand what seed phrase, phishing links, and fake wallets is, and also have it in mind that bitcoin transactions ain’t reversible. Knowing how to buy bitcoin and have zero understanding on how to protect it can put a person in a very big problem.
 
In Nigeria many people are discovering bitcoin through friends, and social media, but for me I think basic safety education is suppose to come first. A person who knows how to protect their bitcoin will benefit more  than someone who just rush in because of adoption.

[PremiumcryptoHub]

There is a lot to learn but people in these local communities should not be pushed into Bitcoin, and they should not be unnecessarily involved in Bitcoin investments if they are not interested in learning. However it is possible to reach this conclusion if newcomers are initially informed about the past or history of Bitcoin and told about its charts, progress, and procedures, then their knowledge will increase further.

Also i think hands-on teaching on how to create a wallet and what seed phrases, phishing links, and fake wallets are, and even which wallet to use to safely store Bitcoin, and how to use Bitcoin, would make it easier for the inexperienced members of this local board to understand. At this stage it can be said there are such materials to teach Bitcoin from which people can easily learn about Bitcoin such as and various information related to Bitcoin is at their fingertips through Twitter, Google and YouTube and other platforms, even by joining this Bitcoin talk forum, many ignorant investors have been able to gain a lot of knowledge about this currency.

[Shadiq]

What should be learnt first,before paying with our first dollar forBitcoinin Nigeria?

In fact, security knowledge is part of the Bitcoin investment defense system. Buying, selling, holding and buying strategies are the knowledge of achieving investment goals or investment strategies. Saving seed phrases, ensuring wallet security, various backup funds and protecting yourself from fraud are the knowledge of investment defense strategies.

It is important for us to have two types of knowledge to use or invest in Bitcoin. Especially the knowledge of protecting ourselves from fraud is not only important in Bitcoin, but we are also victims of fraud in using fiat. Even though fiat currency is popular and part of our daily use, we still fall victim to fiat fraud. Whether you use Bitcoin or not, you should always be careful of fraudsters.

Before using dollars for Bitcoin in Nigeria, you should know about privacy and about Bitcoin. It is essential to have knowledge of how Bitcoin works and how to purchase it, and if someone gives you a link or asks for a seed phrase or any secret information, it is best to stay away from them, you should acquire that knowledge first.