I was discussing with a friend, a female that I know has been into cryptocurrency for a long time and since I was new, I wanted to see how she has being investing since she joined and to my suprise, she doesn't own any Bitcoin. I was shocked because in this forum. Bitcoin has always been what we're advice to buy but this long time investor that has being in the market for more than 5 years doesn't own any Bitcoin. What I discovered is that alot of Nigerians are like this my friend, they don't value Bitcoin until Bitcoin starts mooning during the bullrun but by that time, it might already be late to buy.

Why are Nigerians like this as I don't see them talk more about Bitcoin except when they're looking for where to trade. Nigerians are among the highest investors in altcoins and it makes me wonder if it's worth it to invest in altcoins instead of Bitcoin but the answer to that is a capital NO. On my own. I have decided to list out some reason why Nigerians aren't investing in Bitcoin. If I'm wrong, feel free to correct me or add the reason you can think about yourself so we can all learn and take correction as a big family.

Here's are the reason -

1] Lack of understanding about Bitcoin and capital- I think the main reasons why Nigerians aren't investing in Bitcoin is because they haven't understood properly how Bitcoin operates and this confusion is making them to not invest. Also they're not many that can afford to invest in Bitcoin.

2] Lack of understanding on investing - Many Nigerians are new to investing because not many of us are usually investing because we usually don't have enough to take care of our needs and when that's done. There's no money left to use in investing therefore many people don't understand how investing works properly.

3] Lack of understanding of the importance of supply of a cryptocurrency - Some that have all the basic needs to invest still don't understand that a supply of a cryptocurrency is very important but they don't consider this and buy Meme cryptocurrency that are having too many supply.

4] Lack of Guidance in cryptocurrency - Most of us discovered this market on our own and weren't guided therefore there's no previous users to guide us on how to invest properly and invest in the best cryptocurrency which is Bitcoin.

5] Follow, Follow mentality - Nigerians like to follow the trend, this has made many of us to invest in projects that are scam and lost alot of money instead of investing in Bitcoin.

6] Quick money mentality - Most people in the market are after quick money and this make them to always look for projects that can give them quick money therefore Bitcoin isn't always on their list.

7] Fear of losing their money - This is general for most people that don't understand how investing works and they fear that Bitcoin is a scam and decide to stay away from investing in it.

8] Bad reputation of Bitcoin - EFCC and the police has made it look like investing in Bitcoin is a crime because of how the harassment of people involve with Bitcoin and the yahoo boys has made it have a bad name in the eyes of Nigerian for those not educated or just ignorant.

9] Durations of investments too long - Alot of Nigerians don't have the patience to wait. They considered the period of holding Bitcoin to be too long so they go for other cryptocurrency that can give them profits fast.

10] Being wrongly informed - I was told altcoins give the most profits and I think many Nigerians also have this beliefs because of how they're all rushing to buy memecoins, mining, buying and participating in altcoins airdrops instead of looking for ways to get money to buy and accumulate Bitcoin.

What do you think?.