Quote from: Franctoshi on March 03, 2024, 10:01:59 PM

Quote from: Justbillywitt on March 03, 2024, 07:00:38 PM

In as much as you are right that every investment requires the right knowledge before venturing into it. Bitcoin doesn't require much from you in terms of knowledge. The more you are wasting time to know have more knowledge about bitcoin before investing the more you are wasting your time and if you don't have a portfolio in bitcoin you are not a holder. Provided you know which wallet to store your bitcoin and how to buy from cex or dex I think you are fine. After all you are buying for the long term, and you can know other things you wish to know along your holding period. Bitcoin doesn't require any professional knowledge before you can buy and hold.

Are you letting us know that so far it's about buying Bitcoin that it isn't necessary for the investor to gain proper knowledge about Bitcoin? I doubt if you said so, according to you if you know “which wallet to store your Bitcoin and which exchange to buy that's fine”......well, from your point you only thought of owing Bitcoin and without thinking about its security measures to safeguard your Bitcoin which is crucial.

For me, anyone who wants to own/buy Bitcoin should study Bitcoin better and do not be in a rush to invest because it's not a get-rich-quick scheme business or something that pumps and dumps that someone miss the pumps, it's better to first understand why and what you are investing your money in, Because Bitcoin is here to stay and besides we have DCA strategy which you can use to buy Bitcoin overtime and no need to be in a hurry, I believe in having the proper knowledge about Bitcoin first before investment so you take your investment responsibilities and have no one to blame.

Knowledge and capital works hand in hand for an investor. Recently we saw some little misunderstanding about the Nigerian government with the Binance centralized exchange where P2P trading and other functionalities for the Nigerian crypto enthusiast was halt. What am saying is essence is that imagine a situation where deposit and access to investment asset in the exchange was closed and no one can be able to access them from Nigerian a lot of investors will loss because they failed to have the knowledge that they are not supposed to keep their investment in a CEX rather in a private wallet.

What is the point of investing when you lack knowledge to manage your investment. Obviously, you will lose all your investment with time. The only thing is that some beginners feel you have to have 1- or 2-years knowledge and experience before you can begin investment. No, a week or two is enough to gain knowledge at most the basic knowledge an investment need to know. Like secuirty, strategy, management e.tc.