Quote from: Oti147 on Today at 12:05:47 PM

I live in Nigerian and since our presidential election,the our local fiat became scarce due to change in the newly redesign of the currency which makes it difficult for most people here to get physical cash for business and daily transactions because the banking system is overloaded with too many internet transactions making it hard for me to access my cash. So now I want to convert my whole cash in my bank account to bitcoin but dont know if is a good idea for me or not. I know in crypto world, it will be easy to access my money but the issue is, will my money be same value when I invest all of it in bitcoin .

Bitcoin investing plans are always admirable. But before investing in Bitcoin you must understand its risks and find a good non-custodial or a hardware wallet and store it there. And of course you need to hold those bitcoins for a long time otherwise you won't get very good profit from here and you may face loss as well. Because Bitcoin will not guarantee you this profit all the time. To get profit from this you must hold it for long time

Quote

Because literally in banking system for example, if you have $5000 that will be the value in 3 to 5 months and will add a little interest in it so my question is- I don't fully know how bitcoin works. Is it the same way with the banking system? Will I get more value or less value in future times?

When you deposit money in a bank, it is held as collateral and you can withdraw it whenever you want without any loss. And after a certain period of time the bank gives you interest at a certain percentage rate but in case of Bitcoin your money will never be stable like the bank. If you keep your money on Bitcoin then your money can decrease or increase every moment, as if you buy shares of a company from the stock market, if the price of that company's shares increases, then you will profit and if the price decreases, then you will lose, in this case, the price of your shares will never be stable. Similarly with bitcoin investing your money will not be stable it will always go up and down so if you keep your money on bitcoin for long time in this case you will have high profit potential. i am not giving you any financial advice. so do anything from your own research