5 things you must know before putting your money in Bitcoin

shakirudeen taiwo

October 25, 2017 8:52 PM

You should know these before putting your money into digital currency or block-chain trading

There are many things that seem not clear to many people about putting their hard-earned money into Bitcoin. One situation which may lead to repeat of MMM scenario.

Investment opportunities in Nigeria are relatively scarce, as they are usually out of the reach of most low-income earners in Nigeria and many African countries.

Due to poor financial literacy in the continent, many smart guys play on this to lure people to put their monies in unproductive investment purse.

Just like people lost their money to similar channels – Nasepco, Wonder Bank, MMM e.t.c, the harp being created around Bitcoin calls for more cautions.

These are important things to know about Bitcoin.

1. Underlying philosophy of Bitcoin

The underlying philosophy of Bitcoin is just the prices. It is the only real number you can act on. There is pretty no order thing that should concern you expect the price.

For finance, this is tricky and a lot of cautions need to be taken.