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.
You have done well by creating this thread, this will educate most of our newbies in the system, but there are still some crucial factors that was not added like,
patient :this is the fundamental part of bitcoin investment that helps an investor to hold on to their investment till the end.
Secondly,
Emergency funds :this is also important because it serves a Pilar or a foundation to every investment.
When daily challenges emerge ,emergency funds is
what is beenthe proper funds used to settle every
issuefinancial issues , but where you don't have an emergency funds at hand it becomes a problem to you because you will start selling off your assets prematurely to enable you sort out your daily expenses or unplanned bills
and you know it is very unhealthy to any investment.