Stable income or not you can still succeed in Bitcoin investment.

[SuperBitMan]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.
I have a friend that don't have a stable income because his a contractor sometimes for 2 months he won't buy Bitcoin and however when he gets a contract he buys then hodl he has been doing this for 5 years now and he has accumulated a lot of Bitcoin even more than some of his other friends that has a stable income, he also have a good emergency and reserved funds so don't say because I don't have a stable income I won't start my Bitcoin journey the most important thing is for you to have a source of income that takes care of you and your family and also live you with money for investment it most not be a stable income.

[Ever-young]

If your work has given you enough money in just one hit, what's the difference between it and those who have a specific paid day and amount when you can earn higher than them in your contract? I don't know the definition people give to stable income, but as long as there is enough to be keeping the ship sailing, it's okay to say the person is doing well.
 
One thing about investing in bitcoin is that the first thing is having the money you want to invest, and it should be an amount you won't be needing for a long period of time, and how long you can hold those coins that you have accumulated is based on how much you have in your reserve funds. If it can help settle even the unforeseen expenses, then you can hold for long.
 
Many reasons why some people sell short and take profit are because it gets to a point where the only means of getting money to solve their pressing needs is from Bitcoin.

[Barikui1]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.

I think I have a question for you, what's your definition of a stable income?
Because I believe that we all look, but we see differently.
Looking at all this statement you made here, shows that you can't get the real definition of a stable income, even though we live in a world full of uncertainty, nothing is guaranteed, so in my own opinion, as long as you have source of income that can fend for your daily needs and your can save something out of it which you can use in investing in Bitcoin, bro you are ready to go.
Along the line you can start keeping your emergency funds aside that is totally different from the discretionary income used in investing just in case of the rainy days.

I have a friend that don't have a stable income because his a contractor sometimes for 2 months he won't buy Bitcoin and however when he gets a contract he buys then hodl he has been doing this for 5 years now and he has accumulated a lot of Bitcoin even more than some of his other friends that has a stable income, he also have a good emergency and reserved funds so don't say because I don't have a stable income I won't start my Bitcoin journey the most important thing is for you to have a source of income that takes care of you and your family and also live you with money for investment it most not be a stable income.

As you have said already, he is a contractor, and we all know how their money comes, it comes in block, bro, those sets of people are more stable than you can imagine, so I believe that they are even more in a better position to invest in Bitcoin than those of us that are earning steady peanuts monthly,

[SuperBitMan]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.

I think I have a question for you, what's your definition of a stable income?
Because I believe that we all look, but we see differently.
Looking at all this statement you made here, shows that you can't get the real definition of a stable income, even though we live in a world full of uncertainty, nothing is guaranteed, so in my own opinion, as long as you have source of income that can fend for your daily needs and your can save something out of it which you can use in investing in Bitcoin, bro you are ready to go.
Along the line you can start keeping your emergency funds aside that is totally different from the discretionary income used in investing just in case of the rainy days.

I understand very well what a stable income is, a stable income is a regular, fixed amount of money received from the same source, now a lot of people there income is not regular or fixed neither is it from same source so it means this set of people don't have a stable income but that those not stop them from investing in Bitcoin.
This kind of people they call them hustle here in our country Nigeria they are available for different kinds of jobs and sometimes they don't see jobs and that period when there's no job they use your reserved funds to handle some bills but dey usually don't stay for that long without hitting another job or contract.
Some people believe this set of people can't be successful in there Bitcoin investment journey but that's not true they can.

[Hatchy]

What's the difference between a stable income and a stable job? I think you are splitting the word stable source of income which is meant to go together mate. Having a stable source of income is very vital when it comes to Bitcoin investment. You know why? This help you preserve your investment for a long period of time. The money you place for investment should not be something you would want to use in a short period of time, that's why it's called an Investment. 
Bitcoin investment doesn't require huge amount of money before your start. You can start with a very low capital and then continue your accumulation based on your income. Success in btc is long term hodl.

[sotelorene]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.
I have a friend that don't have a stable income because his a contractor sometimes for 2 months he won't buy Bitcoin and however when he gets a contract he buys then hodl he has been doing this for 5 years now and he has accumulated a lot of Bitcoin even more than some of his other friends that has a stable income, he also have a good emergency and reserved funds so don't say because I don't have a stable income I won't start my Bitcoin journey the most important thing is for you to have a source of income that takes care of you and your family and also live you with money for investment it most not be a stable income.

First you must understand that any incomes that takes care of our necessities, family and lives you with money to invest with is a stable source of income because if your income is not stable you will find it quiet difficult to take of your necessities. however, stable source of income does not mean or is not a criteria that one is going to make a success in his or her investment rather it will only help to have a good, running, smooth and successful investment if you are determined, consistent and of cause discipline. stable source of income plays a very big role in our investment though someone without a stable source of income can invest and make success but the trials and challenge will be more and it will be very difficult to handle compare to an investor with a stable source of income. stable source of income is a very big advantage in any investment.

[Yucky]

Having a stable source of income is crucial when investing in Bitcoin or any other investment. However, it's essential to do what works best for you.

Some people secure investment funds from various sources, such as friends, family, or offline businesses. They then use these funds to invest in Bitcoin, adding more funds from their other income sources over time.

 But having a steady income stream is advised to avoid using funds meant for basic necessities for investments. This way, you can allocate a portion of your weekly or monthly income to Bitcoin investments while covering your essential expenses.

If your stable source of income is  weekly, monthly, or sporadically, as a contractor then it's ok. This income stream should support your investment strategy without compromising your emergency fund or daily living expenses. What matters most is having a financial plan for investing in Bitcoin that aligns with your financial situation and goals.

[Abbatty]

You are saying the same thing with 2 different explanations, having a stable source of income  is the same thing with having an income that takes care of your necessity. Necessity are things you can't live without, they are your daily needs, like food, fuel, shelter, clothing and so on, so without a stable income I don't think you can live. So imagine investing into bitcoin without having where you can cater for your daily needs.

You said it yourself that to make it in bitcoin investment that you need patience and consistency, so how can you have bitcoin investment and you are dying of hunger, or you don't have shelter for yourself oreven clothes to wear. So I will put it to you that you can't succeed in bitcoin investment if your don't have a stable income if not you will be forced to sell at loss. There are other emergencies that must require you to use caah at a point and without a stable cash with you or income you will be forced to sell.

[Spaceman1000$]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.
I have a friend that don't have a stable income because his a contractor sometimes for 2 months he won't buy Bitcoin and however when he gets a contract he buys then hodl he has been doing this for 5 years now and he has accumulated a lot of Bitcoin even more than some of his other friends that has a stable income, he also have a good emergency and reserved funds so don't say because I don't have a stable income I won't start my Bitcoin journey the most important thing is for you to have a source of income that takes care of you and your family and also live you with money for investment it most not be a stable income.

I believe by stable income you mean monthly salary in the Nigerian setting, however across the world, people that invest in bitcoin are cut across different fields of endeavour, wether your a monthly salary earner, a business man/woman or a contractor, and this person's do their investment with a certain amount of flexibility in line with their earnings.

So as for anybody that wants to invest in bitcoin and doesn't have stable income but do get in some income periodically, there are different options to go about it, you can go for the lump-sum investment whenever you have reasonable amount of funds with you because DCA will require you to give certain amount for a period of time, which will not be suitable for someone who doesn't have a steady inflow, so lump-sum gives you breath of fresh air.

[Odogwu-Blockchain]

I somewhat disagree with you in a way and agree with you in another aspect. I always say, crypto investment only favors those that has many streams of income and the love of investment no matter how much Bitcoin accumulated weekly or monthly. If you like receive huge amounts periodically and you don't love crypto accumulating investment journey, you get nowhere.

I come again, let me not go far, you that are in a long lasting signature campaign can accumulate good amount of Bitcoin every week and become moderately wealthy in a way by journeying crypto investment accumulation. Weekly drops can give you that edge to accumulate little by little because slow and steady wins investment journey race.

[Davidvictorson]

In my estimation I need stable income to invest for Bitcoin because na who don chop fit hold. This one na my own opinion. As person wey they do office job but if na business wey you dey into them, you fit dey freestyle your investment because as hustler wey you be, you sabi say any how, any how, ogoro must jump- money go fit show. But for guys wey dey depend on stable income you need to do budget and plan make you no go invest and then sell am off to survive. With stable income sef, you fit dey do lump investment rather than biweekly DCA.

[Jaycoinz]

In my estimation I need stable income to invest for Bitcoin because na who don chop fit hold. This one na my own opinion. As person wey they do office job but if na business wey you dey into them, you fit dey freestyle your investment because as hustler wey you be, you sabi say any how, any how, ogoro must jump- money go fit show. But for guys wey dey depend on stable income you need to do budget and plan make you no go invest and then sell am off to survive. With stable income sef, you fit dey do lump investment rather than biweekly DCA.

No be lie wey you talk sha, because no matter watin you do, knowing and understanding yourself is very important because imagine sey u no get stable job and you yourself know say na manage u dey manage then how u wan take buy or save Bitcoin even if na DCA method wey at some point you no dey pressured to touch am, so many person dey talk this thing but to talk dey easier than to do am. If you get stable job then planning go dey as you gats set aside some funds like emergency funds wey go make you no touch ur Bitcoin sef or as u talk u buy lump sum wen e clear for you to buy.

[Wiwo]

What is your definition of stable income, do you take it to mean consistent monthly income.e like salary, nope ops as long as you are having a enough cash flow after expenses like bills and the rest of the family stuff, and still have extra cash reserves to buy bitcoin you can be considered to having a stable income, your friend who is a contractor has a stable income regardless of what amount of time it takes for his contract to come, he may have received contracts twice a year that his total profits will still be able to make more money to buy bitcoin at a go more than someone who earns monthly income.

The bottom line is that bitcoin investment requires steady cash flow and the determination to put every cent to use in purchasing bitcoin as much as you can, so in a way, ops is right as per say steady income is a determinant factor in bitcoin accumulation, make we no lie for ourselves unless person wan deceive himself na him e  think money is not needed to buy bitcoin, the era of free coins is far gone now.

[Dzwaafu11]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.

And you think once you have a source of income that sustains you with your needs, you are qualified to use part of the money to invest in bitcoin without any emergency funds and other things to do. Bitcoin investment is not even for people that are not earning a lot of money because you can’t invest when you are still struggling to meet your needs; that investment will not stay long enough as you want, talk less of even taking profit. That is what you need to understand about bitcoin investment. 

However, having a stable income is what will determine your success in bitcoin investment because if you don’t have a stable income, you can’t invest in bitcoin, because you will later sell if you need money, and financial problems can come at any time, so mate, I think you should reason this again because bitcoin investment is not done without a stable income; it won’t work that way.

[MainIbem]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.
I have a friend that don't have a stable income because his a contractor sometimes for 2 months he won't buy Bitcoin and however when he gets a contract he buys then hodl he has been doing this for 5 years now and he has accumulated a lot of Bitcoin even more than some of his other friends that has a stable income, he also have a good emergency and reserved funds so don't say because I don't have a stable income I won't start my Bitcoin journey the most important thing is for you to have a source of income that takes care of you and your family and also live you with money for investment it most not be a stable income.

First you must understand that any incomes that takes care of our necessities, family and lives you with money to invest with is a stable source of income because if your income is not stable you will find it quiet difficult to take of your necessities. however, stable source of income does not mean or is not a criteria that one is going to make a success in his or her investment rather it will only help to have a good, running, smooth and successful investment if you are determined, consistent and of cause discipline. stable source of income plays a very big role in our investment though someone without a stable source of income can invest and make success but the trials and challenge will be more and it will be very difficult to handle compare to an investor with a stable source of income. stable source of income is a very big advantage in any investment.

I understand the OP's point, a stable incime is a fixed amount of money gotten from a particular job, could be monthly, weekly or daily. And what he's trying to say is that one mustn't necessarily have a fixed income that comes whether daily, weekly or monthly before they buy Bitcoin, atleast you should have a job or skill that allows you to buy Bitcoin and the money gotten from the job mustn't be a fixed amount, just like the instance the OP stated concerning his friend who is a contractor and doesn’t receive a fixed amount of money on a regular basis but got a job that gives him the opportunity to still purchase it whenever he receieves a contract. Well, the goal is to have a job or skill that gives an investor the opportunity to purchase Bitcoin and still got funds to carter for other needs, instead of being idle and purchase with the little you got then fall back to your portfolio during time of emergency when the investment is not due. Although you're right to say a stable income is a big advantage to an investment.

[BIT-BENDER]

as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.

I am sorry to say but this already goes against your post. What ever can sustain your standard of living and also give you the luxury to carry on Bitcoin investment is your stable source of income. Because you standard of living is continually, there is no time you can pause it and Survive so in other to support that you need a source of income.

And except you go about taking loans to invest in Crypto-currency like Bitcoin (which is not advisable) you need a source of income to be successful.

[Cryptoprincess101]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.

OP, i think you are the first person i have come across in this forum that thinks having a stable income do not determine one's level of success while investing in bitcoin. Have you really thought twice about it? Having a stable income is the greatest advantage of a bitcoin investor especially those who are applying the DCA method because since you have a stable income, you will find it convenient enough to invest using the DCA method of investing same amount of bitcoins at regular time frames. It gives you consistency in your accumulation stage because you have no excuse to give as to why you didn't maintain your DCA. The only thing i can believe is in the case of someone who has a stable job because you might have a stable job, but the income may not be coming at regular intervals which will affect an investor who is using the DCA strategy to invest in bitcoin. Discretionary income is already necessary for someone who wants to start investing in bitcoin, but you can have a source of income but since your income may not be coming all the time, it will be very problematic for you to own a sizable portfolio and may lead you to not being able to accumulate enough bitcoin within the time frame of your target.

[uchegod-21]

as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.

I am sorry to say but this already goes against your post. What ever can sustain your standard of living and also give you the luxury to carry on Bitcoin investment is your stable source of income. Because you standard of living is continually, there is no time you can pause it and Survive so in other to support that you need a source of income.

And except you go about taking loans to invest in Crypto-currency like Bitcoin (which is not advisable) you need a source of income to be successful.

There's a difference between having a stable source of income and having a secured job. There's a difference between having a stable source of income and living comfortably. Someone who is very comfortable in life might not have a good need to invest in bitcoin. It is only someone who is aspiring to earn more that will be desperate to invest. So, even someone who is not financially ok, but is striving to succeed can still invest in bitcoin atleast with the less expensive and the most popular DCA method. Someone who doesn't have a source of income can still invest, when you are broke, you withdraw from your investment and sort yourself out.

[Felicity_Tide]

One of the things that has been stopping people from going into Bitcoin investment immediately they know about it is this thing of wanting to have a stable income first, am not saying is wrong but having or not having a stable income won't determine your success in Bitcoin investment what determine your success is your patience and consistency, you may not have a stable income but as long as you have a source of income that takes care of your necessities and also live you with a discretionary income you can become successful in Bitcoin investment.
I have a friend that don't have a stable income because his a contractor sometimes for 2 months he won't buy Bitcoin and however when he gets a contract he buys then hodl he has been doing this for 5 years now and he has accumulated a lot of Bitcoin even more than some of his other friends that has a stable income, he also have a good emergency and reserved funds so don't say because I don't have a stable income I won't start my Bitcoin journey the most important thing is for you to have a source of income that takes care of you and your family and also live you with money for investment it most not be a stable income.

You've a point @OP, but to be realistic, I think everyone here will be very happy to get not just a good source of income, but a stable income as well. If you feel having a source of income is the only important thing, what then happens when you lose your job or source of income?. Fine, I agree that consistency and patience matters as you've mentioned, but when a stable income is available, then I don't see any reason why you should accumulate something lesser than what someone with an unpredictable source of income should do, morever it's never a competition in the first place.

Now, the difference between your contractor friend that you mentioned, and a regular person that gets paid every month end, might be the different approach to Bitcoin investment. The regular person might use the DCA, while your contractor friend might choose to use the lump sum because as a contractor, you get paid once, until you get another contract.

What I feel is, it's just a matter of choice, and what we want to achieve as individuals. Personally, I like not just a good source of income, but a stable one as well, combined with my investment. That should be fine IMO.

[Su-asa]

The most important reason why you should have a stable source of income before investing in Bitcoin is having enough so you can take your mind off the capital you invested. Not having enough can make you sell your Bitcoin from time to time, this is because you have needs and things you need money for and if you plan to invest on a long-term this might not work. A lot of people who are able to keep up this long term investment have multiple sources of income that's enough to provide for their needs and sustain themselves. If you plan on investing in Bitcoin without having a stable income you should consider making a short term investment.