1 Million Enough?

[Israelgogo]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

[DubemIfedigbo001]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

The first question would be:
Are you good in trading? If NO, then don't dream of venturing into it because it's a very risky adventure and you can loose your capital in a twinkle of an eye. If YES, then proceed with caution.

For the Bitcoin investment, are you willing to go for a long-term? If Yes, then proceed to invest, if NO, then you may avoid it so that you don't sell in loss when you eventually need the funds within a short while. It's right to invest into Bitcoin with your discretionary income and not income you'll be needing soon for your living expenses or other concerns.

[Rustam Meraj]

Physical business offers more control and steady income with many options in Nigeria but it demands much of your time and effort. Bitcoin is name of holding and it could grow much over time but its price can swing wildly which make trading risky without expertise. Given your concerns about marketing resources active Bitcoin trading might add more problems as it requires much of learning and you could lose money easily. If you prefer stability and direct control physical business is better. If you can handle high risk for potentially big gains over many years then investing in Bitcoin is best but avoid trading without skills.

[peter0425]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

Converted it into USD and it was over $600. I think that is a pretty decent amount, maybe a little more than decent actually. Not a bad amount but really it is also about how you can make the most of every penny. It would depend on your strategy and whether you are any good with it.

[TastyChillySauce00]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

If i'm being honest I'd definitely prefer to invest in BTC than doing physical business. It's a lot more liquid and if you're just buying spot there's slim chance you gonna lose all your money.

However if what you're seeking is trading. Well, be sure you're confident in your own abilities like being able to be profitable. 1 million naira if converted to USD is about $650 according to google and it's good enough to get things started but it all depends on your capabilities to trade though.
How about testing the water with lesser capital.

[BitGoba]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

Don’t even stress too much about trading. Just think of Bitcoin as a superior form of money.Forget about the naira  switch to Bitcoin instead. Treat Bitcoin as your primary money because it’s money without inflation. I checked on Google, naira is Nigerias currency and it has an annual inflation rate of about 25%. Thats more than double the inflation of the US dollar, which is still the strongest fiat currency in the world out of over 180 fiat currencies , and all of them are inflationary.

When we say “inflationary,” it means they lose value over time. For example, if you hold 1 million naira, you’ll still have that same amount next year in numbers, but in reality, you’ll be able to buy about 25% less goods and services with it. That’s inflation ,a hidden tax on your savings.

That’s why you should use Bitcoin as your main money and the money you save in.

[Webetcoins]

will 1 Million naira make good results in btc trades now, or investment of btc?

Clearly investment of BTC will get you better results with almost zero risk but you need to remain patience for at least 4 to 8 years. At the same time, trading BTC may get you quicker returns or will make your 1 million naira into zero. 99% of traders do ending up with the second scenario.

Real time business is a good option in my opinion as well given that you have prior experiences. One good approach could be, start a known business with accepting BTC as one of payment and save 10 to 25% of profits in bitcoin for decades and remember this post there after .

Are you good in trading?

At first hand, I do not think that a pro trader will ask such a question.

[GreatArkansas]

I think the first question you need to answer is, "Are you willing to lose that 1 Million?"
Because if yes, then go. Trading or investing to Bitcoin is already a risk, on one knows what will happen after you place your hard earned money on it, especially in trading.

[SilverCryptoBullet]

When we say “inflationary,” it means they lose value over time. For example, if you hold 1 million naira, you’ll still have that same amount next year in numbers, but in reality, you’ll be able to buy about 25% less goods and services with it. That’s inflation ,a hidden tax on your savings.

Fiat currencies are very inflationary or hyper inflationary, consequently their purchasing powers drop a lot over years and more money printings, more inflation.

The US. Dollar and it's decreasing purchasing power over years is very good example.
https://www.visualcapitalist.com/purchasing-power-of-the-u-s-dollar-over-time/
It says $1 in 1913 has same purchasing power like $26 in 2020 and since 2020 the purchasing power drops a lot as the US. Dollar has massive inflation since the Covid-19 pandemic.

That’s why you should use Bitcoin as your main money and the money you save in.

There are more reasons to use Bitcoin as your fund storage and avoid fiat currency. Inflation is only one of many reasons to do that. Both fiat currencies and Bitcoin are inflation, more or less, but it is enough to see that inflation is not the only reason.

[The Cryptovator]

Bitcoin investment doesn't have any limitations. Whether 1M naira is enough or not fully depends on your financial situation. I am talking about Bitcoin investment, not about Bitcoin trading. Since you are at the beginning stages, I don't prefer trading with a big amount that you can't afford to lose. Rather, I will prefer to invest and hold for quite a long time. Even if Bitcoin price dumps after you buy, it will recover somehow. Because we are witnesses to Bitcoin breaking ATH again and again.

Then you should learn about Bitcoin trading slowly with the small funds. Unless you gain some knowledge about Bitcoin trading, then it's possible you might lose your portfolio. You have to analyse the market and read the chart for trading. Real-time decision-making is most important in trading, along with patience. Amount doesn't matter, either small or big, for crypto investment. You can increase your portfolio. But don't think of crypto as a quick-rich method.

[katanic97]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

That's a tough question it depends on the type of physical business you want to start, whether it has long term potential, if there's a lot of competition, and whether you truly understand the field you want to get into.When it comes to BTC trading, it can be a double edged sword because a lot depends on the market and on you. If you're patient and not greedy, you could make a nice profit from trading. If i were in your position, i’d definitely think it through carefully, because BTC trading can be a good option. Physical businesses require a lot of investment and effort, and getting started is always the hardest part.

[salad daging]

You have skills in trading? This is not easy you will bear all the risks if what you do in the trade is a lot of losses, if you are still a newbie it is better to avoid trading and switch to investment even though it is long but it is promising because there is no instant investment.

1 Million nai is equivalent to $653 conversion now that's a pretty big amount so it's better to just invest, even if you buy bitcoin now in a high state there is still potential to go up again - people estimate bitcoin can touch up to $150K.

[Raflesia]

Before you talk about capital then ultimately you have to look at yourself in this context your readiness whether you can or not to trade.

If indeed you can do it even for a smaller capital than that it will be very enough but if you only make instincts as a benchmark that bitcoin will go up or down not just 1 million even 10 million of your currency will not be enough for your trading.
Because what? Because you only make instincts or even look for them traders share signals without knowing what you are doing and just entrust yourself to others.
Maybe in this case there will be an excuse for the learning process, it may be good but in the end this can also be refuted because being in trading is not as easy as imagined considering it takes a long time to learn this and of course things like this are not worth it if it is just said to be just trial and error.

[Lida93]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

Go for a bitcoin investment, leave it for the next circle to come, you're highly likely to making profits from that than you'll do with trading because you really don't sound like one who is really good at trading. Forgive my quick judgment but I may not be wrong.

Don't trade because you have such money already available, trade because you trust your trading skills and strategies and have backtest it to have worked many times in live trades. Trading isn't as easy as some social media platforms makes it sound. Do your research!

[Catenaccio]

Don't trade because you have such money already available, trade because you trust your trading skills and strategies and have backtest it to have worked many times in live trades. Trading isn't as easy as some social media platforms makes it sound. Do your research!

Most traders lose money in the market rather than getting more money as profit so if you don't consider yourself as a good trader and are able to get profit in long term (remember what means is long term profit, not short term profit), you should never trade.

Moreover, belief or confidence is not enough and you must be confident about your trading capability only if you base on your trading record and as emphasized, long term trading record. If your record shows that you did not get profit in long term and only get loss, don't try trading.

[Ishicryptic]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

If you have only one million naira without a job or skill that will be earning you steady income you should not think about cryptocurrency yet, you should first concentrate on finding a business that you can start with that amount or look for a job. Crypto or Bitcoin trading should be an alternative business because you are not sure of making profit, you can easily lose all your money if you don't master how to trade. Also Bitcoin investment should be an alternative source of income because you need to hodl for a long term to be profitable, it is not a get rich quick scheme that promises you quick returns on a short term.

In summary it is better to have a source of steady income first, then diversify part of your profit or income into Bitcoin, if you have trading experience then you can trade if you don't then invest. Between trading and investment I prefer investment because trading is very risky.

[ultrloa]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

I hope you don't have this blind hope that BTC trading or even investing can deliver easy richest because both posses risk.

It matters how you handle your trade and investment also how depth your understanding the market or even the system. Many failed on early part of their trade also on investing on Bitcoin so if you can able to afford to lose that 1 million naira then provably you would learn lot of things from it thru many experience you encounter on the market.

But if you can't able afford to let go on that money better start with more smaller amount then try to dig more deeper knowledge about Bitcoin and educate more yourself. Because there's nothing easy profit can be called risk factors that can make you a loser so settle up for a while try to find more realistic approach the way how you handle your investment. But so far the best choice is to HODL BTC since this is more better than trading Bitcoins.

[purple_sparkles]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

It all depends on the total capital how much that million represents as a portion of the whole. If it's everything you have, then it's a risky move. But if it's just a part, then why not. Bitcoin is an asset that requires patience in order to generate good returns.By dividing capital by investing in different sources, we reduce the risk of making an unsuccessful investment and losing everything we already have.

[348Judah]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while

You don't have to over think yourself, bitcoin is a profitable asset of investment only when you take time to study how you can go about it, it is important that you go by either a way of trading it or investing to hold for a time, but at the end, everything lies on taking our time and efforts to understand much about the network and how profitable it could be for us.

The question is will 1 Million naira make good results in btc trades now, or investment of btc?

It will go better for trading now, but to be able to trad, it has to be an experienced trader and not a first time trader, because you cant afford losing up top that amount if you got it wrong on trading s the market is more volatile now, while for investors, i will suggest if you're willing to hodl, then try as much as possible to buy when the market dips and we are off this season, you can use DCA at the cause as a preferred strategy.

[lionheart78]

Thinking alot and is really affecting me because I don't actually all the resources need to market the trading but then am reasoning between physical business or BTC trading which 1 million naira capital will fits in for better returns after a while. The question is will 1 Million naira make good results in btc trades now, or investment of btc?

If i'm being honest I'd definitely prefer to invest in BTC than doing physical business. It's a lot more liquid and if you're just buying spot there's slim chance you gonna lose all your money.

This is advisable if @OP has the fund to sustain his daily needs without touching the investment.  In addition, if @OP has the patience to wait for the prices to increase even if it takes years before.  If @OP targets trading, then the question would be how knowledgeable he is about trading.

However if what you're seeking is trading. Well, be sure you're confident in your own abilities like being able to be profitable. 1 million naira if converted to USD is about $650 according to google and it's good enough to get things started but it all depends on your capabilities to trade though.
How about testing the water with lesser capital.

The thing to consider here is the skill of @OP in trading.  If @OP has a knack for it(trading), then go and trade strategically.  but if he does not have the skill then better avoid it until he is knowledgeable enough.

I won't comment about physical business because it has been proven that physical business do require hardwork but is more controllable than Bitcoin investment or trading.