Ignorance is the main reason behind anything. The more knowledge one acquires, the more one will know and benefit from it. An investor can invest if he feels he is competent. If someone knows well about trading then he can trade and if someone does not have enough knowledge then there is a possibility of big loss if he trades. In the case of trading, a trader has to acquire various types of knowledge, on the other hand, if a holder has minimum knowledge, he can earn good profit by holding. I do both holding and trading in my own case.

Pardon my inquisitiveness, but ain't holding also to be known as investing?
I don't want to create a confusion, but a trader can do both HODLing,  trading and any other investment like ETFs if the funds are available.


For now trading full time isn't a viable option and if not occasionally, it is just to remain versed and updated with new developments on exchanges, and HoDL as well as diversify  portfolio and transact. Am more inclined to try out Arbitrage trading sometime soonest just to see if I can keep up and master a strategy of my own.

My fellow Nija people watin dey sup? After all the hardship and high cost of living way the government don cause for the country them wan Still block Nigeria access to binance?
But I been think say recently the Nigeria SEC been don openly embrace crypto ? Abeg make una tell me watin dey sup for this place because the matter don dey pass becareful o...

The government no go ban access to Binance o, I just feel say them wan participate in am by taxing every body wey dey use am. We dey hear of them wanting to regulate am for a long time and also because of that case brought against Binance US, but I know say them just dey wait make more countries like the U.S begin use am well despite the way them shine eye follow Binance,  before them go legalize am or adopt an for here fully.

Quote from: bayu7adi on February 27, 2024, 09:16:15 PM

Good for me? Of course hold. I'm very stupid at doing daily analysis, and the accuracy I get can be a whopping 60%. Meanwhile, if I hold for a long time on a coin that has good prospects, I have a 100% win rate, because I will definitely be lucky. Especially BTC which will soon experience halving.

Owning BTC and holding it for a long time, gave me quite significant profits. I started to accumulate BTC since the price was $31k and it continues to this day. Therefore, my BTC assets are now growing because the average price I accumulated is still below $45k.

Having good analysis and an accuracy of close to 90% is the main asset in becoming a professional trader, but I am the same as you, the accuracy level of my analysis is only 60%.  So I chose to become a holder.  Only buy when bearish and hold until bullish then sell.  Bitcoin is my priority coin to hold.

Am a strong fan of HoDLing BTC for now because I still haven't found the right way to learn trading and with not so much capital to spare because of the cost of living and poor wages, it is the only option to stay invested in the future and ensure that the world doesn't overtake me with innovations technology in this aspect of cryptocurrency.
Let's say if after some years passes, I would consider to sell and perhaps reinvest the profit to remain consistent with future plans of financial freedom.

Quote from: Tribalchief on December 11, 2023, 10:00:55 PM

Is it advisable to buy Bitcoin with the little amount I have, or should I rather go for altcoins that my funds can meet up with?.

I think you should choose bitcoin after complete knowledge about it and you should be familiar with the fact that bitcoin is for everyone, may you have little or more money if you want then you can invest in bitcoin. If you have now little amount then invest it in bitcoin and after that whenever you find an opportunity then you can invest it little by little in bitcoin because it is not necessary that you will put all amount at once in bitcoin.

As compared to bitcoin altcoins are risky so they cannot give you guaranteed profit like that of bitcoin. If you are asking about the investment decision of bitcoin and altcoin then everyone will suggest bitcoin because no altcoin can ever be more successful than bitcoin.

Big or small amount of Bitcoin can be bought at any time and from a legit source. For those who say the price is too high, the DCA strategy of investment is available and it one that can see someone with less income buy few Satoshis and HoDL and keep doing so for a while without trading it or withdrawal. It can be done consistently for up to a decade, by then if one were to withdraw or reinvest the few Sats bought consistently over the time, it would have amassed to millions.
It's good advice to buy as much as one has, but HoDL and DCA an most importantly, use a safe and secure wallet. Not your keys, not your coins.

Quote from: sampoerna on February 24, 2024, 10:31:41 PM

-snip-
So in essence, a newbie who wants to start joining trading just needs to prepare himself thoroughly and well, so that he won't be careless, panic and lose control emotionally when trading.

The point is:
- emotionally mature
- Knowledgeably mature
- mature in risk management

So you can make quite good capital while continuing to learn from experience, learn by doing, too.

It looks very simple, but it is not easy to achieve.
Someone who is even professional sometimes will not always mature emotionally, this depends on how things go because a person's mental state will be unpredictable.

And in essence beginners need to know the basic knowledge of trading so that they know what to do.
It's not just about following other people's advice and putting it into practice.

No one really becomes an expert if they haven't mastered everything, haven't had extensive experience and gotten satisfactory results.

'With great knowledge comes great responsibility' as said by Peter Parkers uncle in the movie, Spiderman to Peter, has more meaning to express my thoughts on this subject matter.
One has to have had the knowledge of trading, have done their own research and have watched the exchange market enough to understand the market seasons and how whale movements affects same market too, before such a one can have the confidence to even attempt trading, that's assuming they already understand how cryptocurrency works and how to hold and secure their coins, can confirm transaction and also transact using P2p.


It simply takes a lot of discipline and demands alot of time and attention for one to even start being a newbie trader, because when we use the term expert, it means such a newbie has grown with practice and has had more experience in the market before being called an expert .

The price of Bitcoin nonetheless would have much pact on a HoDLer who may only find it difficult to squeeze out the few Satoshis to HoDL for a duration.
Besides this, the price would soar higher than last year ending at almost $45k because as we await the ETF approval which may or may not happen instantly, we also await the pre program of halving to be effected, thus leading to a much anticipated bull market and new ATH.

December been choke because of the congestion and fees during the time be like say e reach times two.
I no know why things dey always dey harder when December or such kind of celebration season reach.
I know the kind small hell wey I see and as I been dey tell my friend, ordinals and most of the new projects on Blockchain dey very contributory to the palava of memepool congestion and hike in transaction fees.