Can naira earners keep up with their BTC pursuit.

[Hewlet]

The value of naira obviously have negative effect on anyone making purchase with a currency higher in value than ours and this has affecting so many persons that intend accumulating bitcoin but are being paid in naira. I can't even imagine converting my fiat naira to dollar and then using it to buy Bitcoin because the value would reduce in a very discouraging manner.

The best way to go about bitcoin accumulation using any known method is to make it a necessity that you're earning in a currency that is higher in value than naira so after you've accumulated to a reasonable amount and and you want to sell it out it would be of insubstantial amount.

Another easier way is that if you join a particular campaign on the forum, you can decide to HODL all your payment while using the alternative money you're getting to run your day to day activity.

[Promocodeudo]

This should be a thought of some if not every member of this Nigeria local board that are currently buying bitcoin with DCA and lump sums, and I believe that not everyone here is currently earning in dollars or having multiple income streams to enable them keep up with this strategy or plan of accumulating bitcoin.
I know that if your earning in naira now this must have affected your DCA plans in a way that the amount you used to buy 20$ before might now be getting you less than 20$ and with the current high fees which would be another matter and after having planned yourself with the amount you would be putting in weekly or monthly. And this could be a major setback for naira earners, some of them might even have to quit or even result to changing their plans about buying bitcoin.
This has been on my mind now cause a friend of mine has been bothered about this and i wanted to hear everyone opinion on this if there is a way out for him to scale through this hard times and still keep up with his BTC pursuit without changing his plans.

This will only affect someone who is not earning bitcoin, Nigerian's that are earning in bitcoin are not bothered much about this fee of a thing because their payment is been made directly to their wallet which the can decide to hold it their, it will be difficult for people that earn in naira to buy bitcoin as the fee is now, this is really a problem Nigerian that are interested in bitcoin, but what I believe is that no matter any circumstance anyone may encounter when he or her decide to take an investment approach it will not stop him from doing the needful, no doubt fees can be a discouragement for a naira potential investor but it should stop anyone who is ready.

[Ever-young]

When it comes to buying of bitcoin and when you talk about DCA you should be aware that you should only proceed base on what you can afford and not what you think you can afford, if you where buying bitcoin worth $20 base on your local currency and now the rate is high and you are suppose to reduce the amount of dollar you use in getting that so that you can fit in your level of schedule.

Now the fee rate is low and we don’t have to worry about the amount to be spent why withdrawing down to our personal wallet, so earning in Naira or earning in dollar has little to no different when DCA what matters is that you have the money you want to invest and you are also set to hold what you are buying for a long period of time.

[Coyster]

Now the fee rate is low and we don’t have to worry about the amount to be spent why withdrawing down to our personal wallet, so earning in Naira or earning in dollar has little to no different when DCA

There is a difference, people who earn a salary in naira will find it almost impossible to buy Bitcoin, if you check the amount wey dem dey pay the average Nigerian these days, you go understand what i mean. The value of the naira continues to depreciate, right now $1=N1445, now imagine using your salary earned in Naira to buy an asset that is priced in dollars, how much of it wey you think say you go fit afford.

Having said that, fee rate no too dey low like that sha, e dey around 30 sat per vbyte if you want your transaction to have high priority. E no dey too high if na one transaction you just wan make, but if you go dey buy frequently via DCA, then e go dey expensive that way.

[Uhwuchukwu53]

Now the fee rate is low and we don’t have to worry about the amount to be spent why withdrawing down to our personal wallet, so earning in Naira or earning in dollar has little to no different when DCA

There is a difference, people who earn a salary in naira will find it almost impossible to buy Bitcoin, if you check the amount wey dem dey pay the average Nigerian these days, you go understand what i mean. The value of the naira continues to depreciate, right now $1=N1445, now imagine using your salary earned in Naira to buy an asset that is priced in dollars, how much of it wey you think say you go fit afford.

Having said that, fee rate no too dey low like that sha, e dey around 30 sat per vbyte if you want your transaction to have high priority. E no dey too high if na one transaction you just wan make, but if you go dey buy frequently via DCA, then e go dey expensive that way.

Just as our senior colleague coyster mentioned the salary difference, I realized one of my guy who salary is 40k monthly, on security job he engage on, and all the problem of his life including his PR he render to people are in this salary. We hard discussion when he to told me he have interest in investing or buying BTC or valid coin, but his salary find it difficult on what to save. After his explanation I observed when he said that highest he can save is 3k per month it will take him half a year with correct price of BTC to buy small fraction no matter they medium he apply base on nature of salary and inflation on dollar.

[Zackz5000]

Yes naire earners can still keep up with their Bitcoin pursuit. Despite the high rate of hardship and economic crisis and depreciation of naira there are till investor who are earning well in there place of work that is Investing massively in Bitcoin steadily using there DCA strategy to accumulate More Bitcoin since they have a good income flow they will able to hodl there Bitcoin for a longer period of time in order for a better profit since Bitcoin is best sighted for a long term plan. Since they have a good cash flow they will set aside an emergency fund reserve, and float fund incase an unforeseen circumstances occur they can be to solve it through there reserve fund without selling out there Bitcoin hodling.

[Uhwuchukwu53]

It's disheartening how we have been living and barely surviving since in the inflation of dollars against our Naira, not just that alone making enough money for one's survival is now difficult facing an increment in the price of goods and service with out any increase in salaries.
Only those who earn alot can be able to keep up with their Bitcoin accumulation, the mind becomes willing but the resource becomes unavailable.

Yes all what your saying is true only those who are in this shoe will understand better the way things is going in our society many have reached their adjustment limit where they are running out of ideas on what to do inorder not to fall out from there buying and holding. For instance one started buying with $20 dollar weekly you change it to be monthly because of the inflation and things keep risen beyond measure just as we do see on daily basis mostly the food cost and some basic need that takes away money in the hand of human it will get the point of op friend because no matter how you cut down your buying for one to shift weekly to monthly it means such investment is no more improving because it's meant to even come down by buying daily, when your initial plan is not going well it kills the moral of investor.

[Tungbulu]

Yes naire earners can still keep up with their Bitcoin pursuit. Despite the high rate of hardship and economic crisis and depreciation of naira there are till investor who are earning well in there place of work that is Investing massively in Bitcoin steadily using there DCA strategy to accumulate More Bitcoin since they have a good income flow they will able to hodl there Bitcoin for a longer period of time in order for a better profit since Bitcoin is best sighted for a long term plan. Since they have a good cash flow they will set aside an emergency fund reserve, and float fund incase an unforeseen circumstances occur they can be to solve it through there reserve fund without selling out there Bitcoin hodling.

Indeed, the country is in a very messed up state and the leaders seem not to care much, so it's left for the citizens to find their way out of this crisis, concerning the possibility of naira earners being able to invest in Bitcoin, it's possible just as you've stated, but you're going to need a very solid investment or accumulation plan, because no matter how well you're earning in this country, as long as it's still in naira, there'll always be somewhere to spend it, and it'll never be enough, so it's gonna be even harder to  come up with a good bitcoin stash without a good plan.

Like we already know, you'll first need to build a solid emergency fund before you can even think of beginning your Bitcoin accumulation, else you'll surely encounter several setbacks that'll mess with your investment plan, especially when those plans are long-term.

[sotelorene]

The value of naira obviously have negative effect on anyone making purchase with a currency higher in value than ours and this has affecting so many persons that intend accumulating bitcoin but are being paid in naira. I can't even imagine converting my fiat naira to dollar and then using it to buy Bitcoin because the value would reduce in a very discouraging manner.

The best way to go about bitcoin accumulation using any known method is to make it a necessity that you're earning in a currency that is higher in value than naira so after you've accumulated to a reasonable amount and and you want to sell it out it would be of insubstantial amount.

Another easier way is that if you join a particular campaign on the forum, you can decide to HODL all your payment while using the alternative money you're getting to run your day to day activity.

You are right, converting our currency (Naira) to dollar or any other currency we want to use is so discouraging and annoying but that doesn't mean that after the conversion the worth of your money has changed no, it will still give you back your exact amount if you wish to withdraw it and sometimes when we convert it, and that particular currency we converted to rises, will we still be on small profit however, making it a necessity to be earning in a currency that has higher value than our currency ( Naira) is good but it's very hard and I think one shouldn't stress him or herself just to invest in Bitcoin after all there are too many investment that we can use our currency and still make good profit perhaps the major effect of this currency of a thing just as they have said it above is that one can't be able to get enough Bitcoin cause of the different in currency value but any amount you buy will still worth it.