I'd say one lesson today has reminded us is the principle of averaging in.

As a trader in this market, it's not advisable to go all in at once... If you're looking at a long term trade, get in slowly... For example, if I've been looking at getting into betece on a pullback, I'd start averaging in at 31k, keep some for 30k and some for 28k (if we get it). And also have some in hand

BabaGrinz:

Oga..if I no de do am I won't be talking abt it and beside I can't even remember d last time I actually really bought BTC ..well every man with e own cutlass..weytin work 4 u no mean say e go work 4 d next man...all I'm sayin here na just idea
#peace

If you've seen the idea is sensi8and profitable then share how you went about it so others can learn

jedisco:


Long term is too far sef... Nothing is certain but don't be surprised you'd be chilling soon... This drop is quite good for alts... They performed better than betece on the drop and should rebounce harder on the way up....

On a good day, when betece drops 10%, alts drop by 40% or more..

Thanks for helping we newbies regain confidence in crypto... We are grateful

When is the best time to buy Btc, now that is falling or when it has climbed?

Loveofyourlife0:
Hi guys, pls when is the best time to buy eth?

Ojemedad:
When is the best time to buy Btc, now that is falling or when it has climbed?

You guys should relax for now... We dat are here ain't finding it easy at all

luvlyoracle:
You guys should relax for now... We dat are here ain't finding it easy at all

Just a simple question to learn

Ojemedad:
When is the best time to buy Btc, now that is falling or when it has climbed?

Do you want to buy when everyone is buying or when everyone is selling.
The market hardly gives the majority what they want.
You want to take profits b4 the market turns

You want buy significant dips. Knowing which dip is significant is tricky.

The reason why I'm advising folks already in not to panic sell now is cos theyre likely to buy higher cos even if it drops to 20k, they'd be waiting for 16k.

No one is mentioning paxful here

jedisco:


Luno cahrges you a taker fee when you market buy. This further affects their liquidity on the Eithy peer as folks don't buy quickly.

I wonder why folks keep complaining about Luno when u can switch to others

how do i avoid such fees or is there a way i can buy to avaoid that?

bradwilli:
how do i avoid such fees or is there a way i can buy to avaoid that?

Try using a limit order.

Churchill6767:


Try using a limit order.

pls what is limit order and how can i navigate that. I need help oo before my brain fries

Churchill6767:


Try using a limit order.

i just found that now and i did go for a limit order when the price gets to a certain level. Thank you for this info but you can teach me more if there is pls

Buying btc now not bad

Pls which site is this thats showing percentage profit.

But why is nobody talking about meetatrader app, that's what I'm currently practicing with.

Hmm

Please house, I got BTC for 40k over night via card on Binance. I was charged 400 for charges but when I got alert from my bank and I noticed I was charged 47279. Can anyone explain to me the excess charges?

Bosses in the house biko help me o � I get the nimc app but pls how can I link it with my verification on luno app

BabaGrinz:
Na wa oo.....i've been reading thru the comments on this thread and I've come to understand that the only way most of u guys earn btc is by buying and selling asin buy wen d price is low then sell wen it rises..well that's one of d ways to earn cryptos but mind u there r a thousand and one ways to generate btc...like thru exchange asin exchanging crytos..,cloud mining. Using ur hard drive hashrate to get this btc..PTC .,faucet claims...so to all newbies please I'll recommend u make use of google to explore on cryptos currencies on d different ways u can earn it..i would have drops some links bt d last link I drop lead to me been ban ..so instead of relyin on the buyin and sellin strategy wy not explore other means so as u wait 4 d price to rise ur BTC will b accumulating..
#Peace

c


Boss i need your help o,

bradwilli:
how do i avoid such fees or is there a way i can buy to avaoid that?

I'd explain a bit on liquidity. In traditional investing, it's defined as how long and at what cost it takes to convert an investment into cash.

Like someone said, you can excape paying extra, you have to place a limit order i.e place an order that is not at or below the market price. A market order buys at whatever price people are willing to sell even if it's lower or higher than the ideal price.
The issue with Luno is that the liquidity is low on the eith/ngn pair i.e number of orders on the table. So your limit order may take hours - days to execute in less volatile periods.

I used this to my advantage b4. On days of high volatility, I would market buy unbought limit orders on Luno and it'd be way cheaper. I can quickly transfer it to binance and sell at a good profit.

I added screenshots of executed orders on the eith/ngn pair on both luno nd binance and the eith/usd t pair on binance... Look at the time of execution and you'd see the concept of liquidity. What's sold on the usd t pair in one second is not sold on the ngn paur in one hour or even day.
It's for this reason I trade the usd t pair. I only trade ngn when I want to withdraw cash.

If you're buying small amounts, then the ngn pair may be easier to follow. If you're buying and selling huge, then I'd advise the usd t pair. To do this, you have to first convert your naira to usd t. Also, the ngn on its own keeps depreciating and having usd t as your reserve saves you from that

bradwilli:
i just found that now and i did go for a limit order when the price gets to a certain level. Thank you for this info but you can teach me more if there is pls

Go on YouTube and search for a video on 'how to place a limit order on binance' it's thesame concept that'd work on any exchange

Yesterday's candle wasn't the best... What happens today/tomorrow is crucial for the coming weeks. I dont trade just on trendlines only but the way they can be respected is amazing. Later on, I'd share a trendline I've been following for months which is interesting and why I believe the botton is in/ almost in on this drop. If it goes much below this, then we'd be at the lows for sometime.

Technically, we've not broken 30k on the 4hr or daily yet. Inability to break that support meals a relief bounce at the very least would be due.

Although bulls haven't shown up considerably, but this drop was too slow for a trend reversal. It's such drops I panic sold into in my early days. When betece sells off, it's not thus merciful.

Also, this was similar to what happened at 20k a while back.

Who else uses the cryptoo fear and greed index for confluence?
It's quite a new one but I've used it in the past to hood effect.

Looking at it, it's quite obvious, the 38-42 level is key... Above that level, we're good below it isnt nice. It had currently dropped to 40, testing it as support... Lets see how it plays with this level over the bext weeks

What's more interesting is that altys have held their levels on this drop

Ebowo:
c


Boss i need your help o,

My dear ..i'm using it.... for d.now..
#peace

ugonology:
This thread reminds me of how I started my journey into crypto ....back in 2016/17 I had to buy some crypto so as to join some Ponzi schemes (the country was lite with many crazy Ponzi schemes at that time). I knew nothing about crypto but YouTube gave me all the education I needed, I joined and subscribed to most crypto communities and realised that this stuff (crypto) was really the future. Around early 2017, the crash came...the Ponzi schemes crashed, bitcoin along with all other alt coins plummeted in price. It was really ugly! But I had gone too far to turn back, I watched an interview of chamath palihapitiya( former executive at Facebook) dude is one young smart billionaire in the US. He advised that the period of a price crash in BTC was the best time to buy, I picked this....and have continued to save every penny that crossed my hands in BTC. Today, the compound value of my BTC portfolio after 4 years is mind burgling, sometimes I wake up in the morning and just scream ahhhhh ...like, where all this money come from
But I ain't cashing out, I really don't have a solid plan of what to do with the money. Also, the current forecasts from most tech genius points towards 100k$ by December 2021(for BTC) and I believe this is feasible, because there is an unprecedented case of institutional adoption, most billionaires are also integrating BTC as a part of there financial portfolio.
The Nigerian government on the other hand is hell bent on destroying the naira with her implosive fiscal policies, incessant borrowings and a central bank that is built on cannibalistic monetary policies....so withdrawal to naira is a NO NO! never save or hold in naira!

My advice to anyone who intends to join and invest in the crypto space:
1) get educated on crpto- YouTube is the greatest university of our time,( it's also the lazy man's school ) you will be shocked at how much you will gain, but if you prefer a more traditional form of learning, try enrolling for crpto related courses on udemy or Coursera.org, most of these courses are free.

2) Have a plan- (hold for the long term) what do you really want from crpto? a few hundred thousand? Millions? Or even billions of naira?....truth is, with crypto you can achieve any of these. What you need is a plan and a time frame, earmark a certain portion of your income that will go into your crpto investment and be disciplined to stick to it. Also, bitcoin might seem expensive today at 40k$ but people also felt it was too expensive few years ago when it was 10k$, understand it has huge future prospects and it's too early to place a price tag on it! Lastly on this.... DON'T SELL EARLY!! until you hit your target price.
while starting, I remember selling 0.2btc in Feb of 2017 for 105k naira because I wanted to buy a PS3 console, today that 0.2 BTC is nearly 4million naira . . So be disciplined, stick to a plan.

3) stick to the main utility coins- I hear people here talk of buying siacoin, nano and dogecoin... well, every Mallam with his own kettle, but from a personal stand point they all fall under my shitcoin list.yes...! Except you are a professional swing trader with deep knowledge of both technical and fundamental analysis, I will advice you stay off these kinds of dummy coins! Don't be penny wise, trying to invest in worthless coins because they are cheap and affordable, some of us don't even as much as check the white papers, projects or prospects of these shitty coins before jumping on them. Please, stay off them...As a starter stay with bitcoin, etherium and ripple/litecoin.

4) Don't freak out!!!- from time to time the crpto world is rocked with government attacks, political scandals and technical glitches. This is exactly what is happening to ripple now, there is usually a sharp loss of value as most frightened investors would cash out to save the value of their crpto assets. But they are going about it wrongly. Whenever this happens, you must buy this ( major utility coins) in bulk, as this is usually the only time you will possibly get them cheap and they 90% of the time will bounce back and even exceed their previous price range. So if you are looking for where to start, ripple is your best bet, followed by etherium and bitcoin. But if you have the money, shoot for the king(BTC) it's not too late.

Lastly...I will recommend that starters use roqqu or luno app, it's the best and convenient for those with little or no experience.
Good luck.

Bro you have really spoken well. You know your onions I must say. Just to add, Remitano is also a very good Crypto Exchange. Very simple to use with a lot of Nigerian users.

Haykins2115:
Hello everyone,I will like to go into cryptocurrency this year,but I'm confused on which wallet to use,I have luno app on my phone but I'm stucked at the verification level just because I only have the temporary NIMC slip with me which they are not going to accept,so I can't use that for now.

But I was told to use Quidax app instead of luno due to their low charges and easier to use compare to luno,but I just want to ask the great minds here if the registration and verification for quidax is easy to do too,cos I only have that temporary nimc slip with me and not any other form of identification.

Thanks

You can use that to verify on Remitano (owned by Vietnamese). Don't know about Quidax though.

jedisco:


I'd explain a bit on liquidity. In traditional investing, it's defined as how long and at what cost it takes to convert an investment into cash.

Like someone said, you can excape paying extra, you have to place a limit order i.e place an order that is not at or below the market price. A market order buys at whatever price people are willing to sell even if it's lower or higher than the ideal price.
The issue with Luno is that the liquidity is low on the eith/ngn paur i.e number of orders on the table. So your limit order may take hours - days to execute in less volatile periods.

I used this to my advantage b4. On days of high volatility, I would market buy unbought limit orders on Luno and it'd be way cheaper. I can quickly transfer it to binance and sell at a good profit.

I added screenshots of executed orders on the eith/ngn pair on both luno nd binance and the eith/usd t pair on binance... Look at the time of execution and you'd see the concept of liquidity. What's sold on the usd t oair in one second is not sold on the ngn paur in one hour.
It's for this reason I trade the usd t pair. I only trade ngn when I want to withdraw cash.

If you're buying small amounts, then the ngn pair may be easier to follow. If you're buying and selling huge, then I'd advise the usd t pair. To do this, you have to first convert your naira to usd t. Also, the ngn on its own keeps depreciating and having usd t as your reserve saves you from that

i think i learnt from this explanation. Thank you brother

tammyboy1:
please how did you verify with your BVN? I'm trying to verify on level 2, they are having issues with my documents, i wish they should just accept BVN and stop all this stress...I'm considering moving all my coins to another app just because of this stress luno is putting me through...cant withraw, account is locked...will they even let me move all my coins to another app without verification?

It is for security purpose bro. You can't really blame them.

djoe21:


You can use that to verify on Remitano (owned by Vietnamese). Don't know about Quidax though.

how is their charges like

Gemineye:
Is it advisable to buy and Hodl xrp??

Buy, hodl and pray they win their court case. It is 50/50 but a risk that is worth taking.