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How To Invest And Profit From Bitcoin By Yourself - Education - Nairaland

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How To Invest And Profit From Bitcoin By Yourself by musicwriter(m): 6:22pm On Feb 23, 2022
Hello there.

Each time I hear people say they were scammed through Bitcoin investment I feel sad. I feel sad because it's like saying someone scammed you by showing you how to see God. Something you can do by yourself!!

The whole idea of Bitcoin or crypto currency in general is for you to independently buy or sell or use them by yourself.

There's absolutely no need to involve a second party because Bitcoin is a decentralized money system, which means that nobody controls it. Nobody can determine whether you can make profit or loss. It's same as investing in the stock market, just that Bitcoin is more volatile.

Bitcoin is down now. It's around $38.445 per Bitcoin as I type. This could be a good time to buy.

If you want to buy or just want to experiment with Bitcoin or crypto currency in general, go to bitcoin.org and spend a day or two reading the site. That's the official Bitcoin info site and every information there is authentic. They even have a blog which is updated regularly. Every link it there

Once you've read the site and is conversant enough with Bitcoin, to proceed you'll need a WALLET. Wallet is where you store your money (crypto currency). You'll see a section where you can choose the type of device you have. Your device would determine the type of wallet they'll recommend for you.

Choose between Android, Apple, Desktop, Mac. When you select device, it'll show you recommended wallets.

Download a wallet or two. Remember to always write down the security words (passphrase) given you by the App to protect your wallet. If you ever lose your device, you'll need the passphrase to recover your wallet and money. Note that your wallet is your bank account and only you have access to the money there. Also remember to choose a password for sending money.

You'll need to learn how to send and receive Bitcoin or other crypto currency. It's made as intuitive as possible in every wallet. It's very easy to learn and is nothing to even worry about.

There are millions of ways to buy Bitcoin and put into your wallet. In fact, depending on the wallet you downloaded, you can buy Bitcoin right inside the App. You can even buy Bitcoin directly from bitcoin.org. I've not bought from there before but just for sake of newbies. I've also heard of luno.com and many others. Or ask someone you know to send you Bitcoin, just for a test. Even if it's $1.

Wherever you choose to buy from, all you need is add your visa or Mastercard and buy Bitcoin. It's as simple as that. However, do not buy from those that has exchange where you buy from other people. Instead buy directly from the wallet itself. Bitpay has a direct wallet. Blockchain has a direct wallet, etc.

Info: Some of the wallets can also store many other crypto currencies z such as Ethereum, Doge, Bitcoin cash, etc. You can even swap from one crypto currency to another. Be careful, Bitcoin CASH is not the same as Bitcoin. If you make a mistake and send money to wrong crypto currency, the money is lost. Always send from Bitcoin to Bitcoin. Ethereum to Ethereum. Bitcoin cash to Bitcoin cash. Doge to Doge, etc.

Bitcoin is down now, so if you buy now, you can just watch it rise after a while. I believe it would.

Alternatively, if you want to trade your Bitcoin for profit, you can sign up at marketplace, such as Paxful.com or localbitcoins.com and list your selling price and terms of sale. Note that's a site you buy and sell crypto currency from other members. See other sellers to see how they listed theirs. You can also look at reviews to see who's a legitimate long time seller.

Warning: Beware of scammers trying to lure you to close a deal outside the marketplace. All communication must happen inside the marketplace because they'll guarantee your money with escrow by default.

You can cash out your money to your bank account anytime you want. Or since the Naira is failing, you can store your money in USDT wallet, whereby, the money will be in US dollar and won't increase or decrease. You can always send money from the marketplace wallet to your personal crypto wallet.

Info: The marketplace wallet is not personal, rather it belongs to the marketplace. Your personal wallet is the one you downloaded from bitcoin.org

That's the basic and it's enough to get anybody started. You'll learn on your way.

4 Likes

Re: How To Invest And Profit From Bitcoin By Yourself by papagiddy(m): 5:40am On Feb 24, 2022
musicwriter:
Hello there.

Each time I hear people say they were scammed through Bitcoin investment I feel sad. I feel sad because it's like saying someone scammed you by showing you how to see God. Something you can do by yourself!!

The whole idea of Bitcoin or crypto currency in general is for you to independently buy or sell or use them by yourself.

There's absolutely no need to involve a second party because Bitcoin is a decentralized money system, which means that nobody controls it. Nobody can determine whether you can make profit or loss. It's same as investing in the stock market, just that Bitcoin is more volatile.

Bitcoin is down now. It's around $38.445 per Bitcoin as I type. This could be a good time to buy.

If you want to buy or just want to experiment with Bitcoin or crypto currency in general, go to bitcoin.org and spend a day or two reading the site. That's the official Bitcoin info site and every information there is authentic. They even have a blog which is updated regularly. Every link it there

Once you've read the site and is conversant enough with Bitcoin, to proceed you'll need a WALLET. Wallet is where you store your money (crypto currency). You'll see a section where you can choose the type of device you have. Your device would determine the type of wallet they'll recommend for you.

Choose between Android, Apple, Desktop, Mac. When you select device, it'll show you recommended wallets.

Download a wallet or two. Remember to always write down the security words (passphrase) given you by the App to protect your wallet. If you ever lose your device, you'll need the passphrase to recover your wallet and money. Note that your wallet is your bank account and only you have access to the money there. Also remember to choose a password for sending money.

You'll need to learn how to send and receive Bitcoin or other crypto currency. It's made as intuitive as possible in every wallet. It's very easy to learn and is nothing to even worry about.

There are millions of ways to buy Bitcoin and put into your wallet. In fact, depending on the wallet you downloaded, you can buy Bitcoin right inside the App. You can even buy Bitcoin directly from bitcoin.org. I've not bought from there before but just for sake of newbies. I've also heard of luno.com and many others. Or ask someone you know to send you Bitcoin, just for a test. Even if it's $1.

Wherever you choose to buy from, all you need is add your visa or Mastercard and buy Bitcoin. It's as simple as that. However, do not buy from those that has exchange where you buy from other people. Instead buy directly from the wallet itself. Bitpay has a direct wallet. Blockchain has a direct wallet, etc.

Info: Some of the wallets can also store many other crypto currencies z such as Ethereum, Doge, Bitcoin cash, etc. You can even swap from one crypto currency to another. Be careful, Bitcoin CASH is not the same as Bitcoin. If you make a mistake and send money to wrong crypto currency, the money is lost. Always send from Bitcoin to Bitcoin. Ethereum to Ethereum. Bitcoin cash to Bitcoin cash. Doge to Doge, etc.

Bitcoin is down now, so if you buy now, you can just watch it rise after a while. I believe it would.

Alternatively, if you want to trade your Bitcoin for profit, you can sign up at marketplace, such as Paxful.com or localbitcoins.com and list your selling price and terms of sale. Note that's a site you buy and sell crypto currency from other members. See other sellers to see how they listed theirs. You can also look at reviews to see who's a legitimate long time seller.

Warning: Beware of scammers trying to lure you to close a deal outside the marketplace. All communication must happen inside the marketplace because they'll guarantee your money with escrow by default.

You can cash out your money to your bank account anytime you want. Or since the Naira is failing, you can store your money in USDT wallet, whereby, the money will be in US dollar and won't increase or decrease. You can always send money from the marketplace wallet to your personal crypto wallet.

Info: The marketplace wallet is not personal, rather it belongs to the marketplace. Your personal wallet is the one you downloaded from bitcoin.org

That's the basic and it's enough to get anybody started. You'll learn on your way.
Thanks brother for this into...... In fact God bless u.....I..am just happy for sir....I want now more about this can we private chat plz

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