Post
Topic
Board Nigeria (Naija)
Re: What is to be considered in cryptocurrency
by
Lida93
on 13/05/2025, 20:44:48 UTC
SCALABILITY ISSUES: some network like Ethrerum and bitcoin can become slow and expensive during high demand.
For ethereum I would understand that it network trx fees are fairly high but not for bitcoin except for when there a network congestion leading to the mempool been overwhelmed, and occurrence that seldom happens. Of which it shouldn't be a valuable reason to risk opting for altcoins.
Quote

USABILITY: we the newbies find it so difficult to understand and manage cryptocurrency safely.
We all know that regulations does affects the usability of bitcoin in any society. Government policies has always dictated to a large extend how much people and institutions are willing to use bitcoin as legal tender or means if transaction within a society. So it's not a thing of about being a newbie or oldies.

Omo for me as a newbie in the crypto world..I no dey near where Altcouns dem deh because for me it’s even more volatile as most of them Deh received 100%+ pump and same day you’ll see -50%..when to invest and withdraw go definitely affect person if you dey new for such market..
Instead I dey try go for bitcoin once once..I Jst try my best to buy at the best possible price then hold overtime as per say na via investment I been buy am for..
Nice of you to think in this direction, and it's definitely going to help you build a good bitcoin portfolio as you go own with it gradually. Than wasting your funds for altcoins for this your fresh start just stick with bitcoin and as your aim nah to invest for long period it's really good too because it goes help you not get worried about any dip in the process but rather the dips go be an opportunity for you to take advantage buy at good profitable prices. This na wetin some newbies no dey know when them first get into this space and they ended getting burnt.