I just noticed that a lot of Nigerian's out there are interested to invest in bitcoin, but they're still wondering if bitcoin is right for them, my fellow Nigerian's worry no more for am going to list out few things to consider to know if bitcoin is right for you.
First of all you will begin by asking yourself this five fundamental questions:
* Do you understand the landscape of bitcoin?
* Can you handle the investment risk?
* Are you comfortable with the volatility?
* Do you know how to store your bitcoin safely?
* Do you understand the tax implications?
So After asking yourself this five fundamental questions you have to answer them within yourself and then decide if bitcoin is right for you. And in case you come into conclusion that bitcoin is right for you, here are also five things you should do:
* Get yourself educated the more about bitcoin.
* Learn how to manage risk.
* Always prepare for volatility.
* Also get smart about security.
* And don't forget taxes.
If you are willing to invest in Bitcoin and at this point, you are still been scared because of how risky bitcoin investment is, then I see that person as being unrealistic and not serious to himself to invest, you can not force any one to invest in bitcoin, it is a personal choice to make.
Yes bitcoin is risky understood, what about the price increase in the market, investing in bitcoin has to do with the individual's mindset and how to hand losses when it comes, but the losses in bitcoin investment is not always much, when you invest in a long-term and not short term, it gives you the edge of making more profits to yourself without regrets.
The trading and gambling aspect is, always very risky than the investment aspect when it comes to bitcoin, because the losses happens very fast, and all that you have is gone, therefore it is adviceable to only focuse on buying and holding bitcoin for a long-term without tempering it during your accumulation stage until you get to your target, then you decide on what you will do after.
If anyone at this stage is still thinking if bitcoin is wright to invest into has at now, then the person is not truthful to himself.