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

[Stable090]

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 no need stable income before you go need invest in bitcoin now, but Wetin I notice say be d main reason why people wey no get stable income Dey find am difficult to invest na because of how d economy be now, most people just Dey try survive for now, and I no go lie give you, person wey never see better food chop no go fit invest in bitcoin now, you no fit Dey hungry, and bitcoin go Dey wallet, na to sell am now. But person wey no get stable income, and him Dey earn well go fit invest in bitcoin now.

[nelson4lov]

The reason why most people always recommend having a stable income first is due to the fact that without any income coming in and with bills to pay, anyone invested in Bitcoin will have to sell their Bitcoin in order to sort out those bills. There is no other way around this unless taking a loan will will just spiral and won't end well.

Where I think you're argument holds is when someone has stable income or a semi-stable one and uses that as an excuse not to invest in Bitcoin or in crypto. There is no way someone who doesn't have a job, doesn't earn money anywhere to sort out his/her bills, doesn't taken loans (loans are finite too) will keep their bitcoin investment going. The exception to this is if they have someone else they can pull funds from to sustain their themselves and cover their bills.

[Moreno233]

It is easier for someone earning able income to use the method method I'm using which is the DCA method. This is because you already know what your income will be in a month so you can plan accordingly unlike someone that do not have a stable income. However,  someone with an unstable income can still invest in Bitcoin, it's just require calculate an average of when income is expected so he can choose either using the DCA method or lump sum method.

[Nheer]

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

Well those people cannot be blamed because they may lack the knowledge of investment and so since money is involved they believe they need to get a stable income in order to be able to invest properly. Even without stable income you can invest and be successful that’s if you have a good capital to start investment, but will have to be patient for some time.
Investing in bitcoin just once is not enough sometimes that’s why having a stable income is very important so as to keep investing and keep accumulating more and more bitcoin. It is difficult for most people to get access to huge amounts to invest and when they do investing such amount will lead to investing more than they can afford. Without a stable income investing will be difficult for some.

[Mayor of ogba]

As far as bitcoin investment is concerned, you need a stable income that will allow you to invest in bitcoin according to your discretionary income and also sort out your daily expenses so that you will not depend on your bitcoin investment to survive, and it will allow you to hold your bitcoin to your desired year. That your friend, who doesn't have a stable income but invests in bitcoin anytime he handles a contract, it will be difficult for him to hold his bitcoin for a long time since he's not certain when he will handle another contract, which will make him find it difficult to solve his daily expenses but have no choice but to depend on his bitcoin to survive since his income flow is not stable. Those of his friends you said that he accumulated more bitcoin than are investing in bitcoin according to their discretionary income and in such a way it will not stop them from sorting out their daily expenses, and it will allow them to accumulate bitcoin consistently and solve their daily expenses easily without struggling to do so, and it will also allow them to hold their bitcoin for a long time.

[Mate2237]

I don't think you can succeed in Bitcoin without having a stable income, first of all, Bitcoin is a long term investment and it would be very difficult to invest in it if you don't have a source of income. My reason for saying this is because you won't be able to keep your assets without selling it, having financial needs can get you Tempted to sell your Bitcoins, it's better to have a something that generates income for you so you can get your mind off what you have invested. Remember that to succeed in crypto takes a lot of time and patience, short-term investments are not really profitable.

[Justbillywitt]

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.

What do think is stable source of income? Stable source of income doesn't necessarily have to be income that comes in weekly or monthly. But any sources you are getting money from that can sustain you till the next money or pay check comes in. To be frank it will really be difficult for someone that's not getting money regularly to invest and hold bitcoin for long. That your friend is doing it doesn't mean that it will work for others that same way. When the money he gets from contracts comes in, he should make some savings so that he can be able to establish a business that will be fetching him regular income, remember contracts don't come all the time. Human lives are highly unpredictable and we don't know what will happen to us at any moment.

But if we have steady source of income, it will serve as a cover to our bitcoin investments. That steady source of income will help us gradually build up our emergency funds. Not that people without steady source of income can't invest in bitcoin, but they can't hold for long as someone who has steady and different sources of income. What will you do when the contract ain't coming through? Will you allow hungry to kill you while you have bitcoin?

[HajiBagi]

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 are right but did you think that without a stable income someone could invest in Bitcoin at this period, I don't know when your friend started investing in Bitcoin without not having a stable income but at this moment I don't think someone can invest without having a stable income, although you can invest in Bitcoin with the little amount you have by buying it gradually but at this moment it will be very difficult for who doesn't have a good stable income to invest in Bitcoin.

The reason why I said it will be difficult for many people is that with this hard economy, people who have a stable income are not in good shape to invest in Bitcoin so it will be very difficult to see those who do not have a stable income to invest, I didn't mean no one can do that because I don't know what anyone is capable of doing but as the country stands now people that hold Bitcoin are selling it to feed themselves.

[Promocodeudo]

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.

Buddy exactly the point, you nailed it, people use the stable income of a thing to discourage people or themselves from making decision to start accumulating Bitcoin, what we all need to invest in Bitcoin is a steady money flow to our pucket either weekly or monthly no matter how small it is we can plan on it on how to divide it and investment with some, waiting is not an option hence such investor understands Bitcoin concept, as an investor that's ready to invest what you actually need is consistent money inflow from the little thing you do, after all we can invest with as low as $1 this doesn't necessarily mean that we will remain in that stage, it is just for a start once our income increases we can upgrade our acumulation level,  we must not wait for a very stable income if not we may not invest at all and that will be a very big mistake if we should consider such, no one is aiming to remain in a particular level of income, since the goal is for a long-term we keep doing the needful and also looking for better earnings to keep up to our bitcoin acumulation stuff, a stable income is good but not a must that every investor will be in such state before they can start acumulating.

[laijsica]

Op I find it a bit inconsistent to deposit or hold Bitcoin through the third party loan agreement you made with your friend because by holding for 5 years, he should get back the capital along with profit. Although you did not comment on this in detail, I assume that the third party will get a huge profit and your friend can get a limited amount.

I think you should be more interested in continuing to deposit within your means for Bitcoin investment. Being dependent on others is an uncertain prospect. If you do not have a stable income, you should spend more time in making investment decisions. If you have a strong desire to do Bitcoin, you should engage yourself in getting an alternative source of income so that you should start with a small amount of disposable income. I think your strong willpower can reach your goal. You can get a huge holding by continuing to deposit Bitcoin periodically and regularly with what you have.

[Zanab247]

But there is no way u will have d knowledge of BTC and stable income in your business, u will not like to invest in BTC, and if u check those people that have stable income from their business and dey don't like to invest in BTC show that dey  lack d fact of BTC investment. I have that confidence that if u go into long hodling with BTC, u will surely succeed in BTC investment because d price use to pump higher every bull run to create opportunities for hodlers and investors to earn potential profits that will delete doubt concerning BTC investment from their minds.

If I have stable income or profits from my business, I will surely include BTC among my assets because i know that profits will not be coming from them at d same time and BTC profits will be bigger than other assets profits, I'm talking from experience.

[Tungbulu]

wetin you talk no dey far from the truth at all, but wetin you go know be say no be everybody wey get source of income go fit still get the opportunity t fit dey buy, because the money them dey earn never even dey enough to sort out their immediate needs not to talk of to get discretionary income, you understand me now abi? sometimes even some people wey get stable income source fit still find himself for this category. with the way the country be now, i feel say the only person wey get the best shot to dey accumulate BTC consistently na those wey no only get stable source of income but several sources of income. when you don get like 2 or 3 sources, e go fit enable you to confidently comot money take dey buy without the process overwhelming you, you understand me now abi?

[Judith87403]

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.

Exactly, stable source of income is very necessary in Bitcoin investment though having stable source of income doesn't guarantee success in Bitcoin... but rather an investor also have to be consistent and patient while investing in Bitcoin, the op said one can make success in Bitcoin investment without stable source of income that what an investor needs is patient and consistent which is not totally correct and this particular statement or sentence has made me to ask, how can an investor be consistent in their accumulation when they don't have a stable source income off course it is impossible and any investor who doesn't have a stable source of income will definitely get stranded one day.

[CryptoHeadlineNews]

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.

Or does that mean those who claim not to have a stable income don't also have a fiat bank account where you keep their fiat currencies? Because inasmuch as you can save in fiat currency, you also can literally save or invest in Bitcoin too. There is nothing too big about it, because one of the challenges I noticed that have made many stick to fiat, instead of Bitcoin, is lack of proper orientation about what Bitcoin Is, and how it works. Of which with the least 5 thousand naira, it's now very easy and possible to invest in Bitcoin. Of which if only you are patient enough to wait for the next 10years, you will be amazed how much that 5k will turn out to be.

[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.

Or does that mean those who claim not to have a stable income don't also have a fiat bank account where you keep their fiat currencies? Because inasmuch as you can save in fiat currency, you also can literally save or invest in Bitcoin too. There is nothing too big about it, because one of the challenges I noticed that have made many stick to fiat, instead of Bitcoin, is lack of proper orientation about what Bitcoin Is, and how it works. Of which with the least 5 thousand naira, it's now very easy and possible to invest in Bitcoin. Of which if only you are patient enough to wait for the next 10years, you will be amazed how much that 5k will turn out to be.

Patience is the key, patience is virtue, patience is one of the major criteria to succeed in Bitcoin investment, I can go on and on just to talk about patients, but let's be realistic, based on our current economic situation I don't think the majority would be patient enough to wait for  as long as 10 years, I'm not trying to say it's impossible but only one or two out of 10 people can wait for about 10 years without taking even if it's a little portion of what they're holding. If you take a look at our economy currently the situation is getting worst and the government is not working hard enough to set things right, majority of people are thinking of survival than investment and I think 4 years would be more realistic to many holders in this present economic situation, anyways kiddos to anyone that's very courageous to hold bitcoin for over a full circle, it's not easy to be holding in this present economy, the situation is getting tougher but then only the patient and disciplined ones would be that courageous, anyways I hope 2025 would be a better year, if only our government would fully embrace bitcoin as a hedge to economic crisis.

[CryptoHeadlineNews]

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.

Or does that mean those who claim not to have a stable income don't also have a fiat bank account where you keep their fiat currencies? Because inasmuch as you can save in fiat currency, you also can literally save or invest in Bitcoin too. There is nothing too big about it, because one of the challenges I noticed that have made many stick to fiat, instead of Bitcoin, is lack of proper orientation about what Bitcoin Is, and how it works. Of which with the least 5 thousand naira, it's now very easy and possible to invest in Bitcoin. Of which if only you are patient enough to wait for the next 10years, you will be amazed how much that 5k will turn out to be.

Patience is the key, patience is virtue, patience is one of the major criteria to succeed in Bitcoin investment, I can go on and on just to talk about patients, but let's be realistic, based on our current economic situation I don't think the majority would be patient enough to wait for  as long as 10 years, I'm not trying to say it's impossible but only one or two out of 10 people can wait for about 10 years without taking even if it's a little portion of what they're holding.

And that's the enough reason why majority of newbie investors will always fail to reap the huge benefit of Bitcoin investment, considering the fact that they can't hold their investment for a longer period, such as 10yrs and above, because you literally don't need to have enough money to hold your coin that long, inasmuch as you invest what you can always afford to lose conveniently, without investing all your available capital. Because 10yrs ago, I'm sure many of us here on this forum could afford to lose $1 when that was approximately worth #150 Nigerian Naira when the price of Bitcoin was valued at $322 per BTC, of what that $1 could have gotten you roughly 0.0031 BTC back then, of which we all know that 0.0031 BTC now is currently valued at over $290.6

That is, the same $1 = #150 that was invested 10yrs ago, must have grew to over $290.6, which is now #469,405

 

[Out of mind]

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.

Although it is important to have a stable income in Bitcoin investment, I think that if there is not enough funds, I should not invest in Bitcoin. To invest in Bitcoin, I must make some amount from my source of income and also run my family expenses. When I first came to Bitcoin, I was working from where I tried to meet my studies and family needs, but at the end of the month I did not have enough money to invest. So I think that to invest, you must collect capital first and think later, and if the capital is small, you will face a lot of problems in investing. You are right that a person should decide to invest only when he can earn enough money and he can invest for a long time. If you can plan in such a way that you can hold Bitcoin for a long time, then it is possible to get profit from it, but short-term investment is not recommended at all. Moreover, if you do not have a source of income, you should never invest. It would be best to invest if you have a source of income.

[rachael9385]

As long as you normally receive a decent amount of money by month ends or weekends through your salary (from job or other activities) you can also invest on Bitcoin. What really matters is how consistent you are, if you have a decent amount of money and you also have good amount of emergency funds you can invest on Bitcoin. If we keep deceiving ourselves til we start making huge money before we invest on Bitcoin it means we are deceiving ourselves. It's better to invest on Bitcoin now than leter.

[EarnOnVictor]

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.

You have a good point, friend, and like I replied to a guy a while ago, too many excuses will not let you move forward in investing. Many would want to have the excess money, having taken care of all responsibilities ,which could be immediate and future ones before investing. But this becomes an obstacle to some people to the point that they will not invest at all and might regret it. But some will risk it and will laugh in the end.

Although Bitcoin investment can't give you that return that will make you rich again if you are not investing big amounts, but it is such that will certainly be better than keeping your money in fiat banks to be wasting away. But note that it has to be done during the bullish season to avoid losing money.

[POPOLUV]

Wow! We just have some few hours to see the year 2025 which is good to be a fruitfull year to all our inventors, in life once you have steady flow of income that means you have some many investments all over, so relating it to Bitcoin, once have you long term investment in a different angles, with the increment of Bitcoin in market will also increase income and it will make you to succeed in Bitcoin market.