As a small entrepreneur venturing into bitcoin activities

[Boy-o-boy]

Firstly is to outline the area I am coming from as a business person I am a barber and I own a barber shop so as of late last year someone introduced me to bitcoin and it's beneficial interest as he outline them for me that Is a futuristic investments  so I picked interest in it but there is a question I forgot to ask him  how can I go about it with my little income business that I am doing

[Tongley]

First of all, it is never a good idea to invest or step into investment by relying on someone's comments or seeing someone's profits. If you invest by being attracted to all these trends, then you may face losses. You must have general knowledge about Bitcoin. For example: .What is Bitcoin
.Be aware of the risks of Bitcoin
.Is there discretionary income or not
.How Bitcoin makes profits in the long term
.You must have basic knowledge about such topics

Never invest based on someone's comments, be aware of the correct information yourself. It is very nice to hear success stories, but success takes a long time. The same is true in investment.

If you are really interested in investing, then you can find discretionary income from your small income through proper financial management and invest. For example, let's say your income is $400 per month or week, if you need $300 per month to cover your personal expenses and all your family expenses, the remaining $100 is your discretionary income. We always need discretionary income to invest. You can invest $40 of this $100 in Bitcoin through the DCA method and keep $20 to create an emergency fund and the remaining $40 you can keep in your cash or in the bank. By investing consistently through the DCA method, you can be able to build a large portfolio (or reach your portfolio goal). You need to be able to generate discretionary income through proper financial management. You can follow @JJ Sir's method

[Boy-o-boy]

See you have said it rightly discretionary income has a major role to play in a situation like this and having knowledge of what am about to go into is advisable as well but you know how it goes when you see someone doing well in this area of bitcoin and you have anxiety to progress as well so might not ask much questions rather you will like to try and see

[MainIbem]

Investing in Bitcoin is for everyone including small and large scale investment, you've already passed the first step which is having an income to be able to generate your discretionary funds, atleast you can be able to invest consistently be it weekly or monthly after learning the basics of investing in Bitcoin which comprises of how to secure your portfolio, where to buy and different strategies you can use in accumulating Bitcoin, this forum is the best place to learn about Bitcoin, follow JayJuanGee's posts if you wish to learn better.

[Agbamoni]

You are not a business person, you are a skill person. The first thing you need to do is know how much your skill fetches you at the end of the month. Last time I checked, barbing is not a high-income skill, well, depending on the location, the income can vary. If your income is high, you have no problem thinking of investment, but if your income is low, I wont advice you to start any investment, instead work on improving your income. I understand you wont like to share how much your income is, since it is personal but deep down you know the truth, so do the right thing.

[Cryptomultiplier]

You are not a business person, you are a skill person. The first thing you need to do is know how much your skill fetches you at the end of the month. Last time I checked, barbing is not a high-income skill, well, depending on the location, the income can vary. If your income is high, you have no problem thinking of investment, but if your income is low, I wont advice you to start any investment, instead work on improving your income. I understand you wont like to share how much your income is, since it is personal but deep down you know the truth, so do the right thing.

I actually think being a 'barber' or haircut professional is quite lucrative as compared to some other businesses that pay once until another time. You always have money coming in and if you do save in a local bank, that's a good financial practice already that can further ensure you are successful at following a DCA strategy of Bitcoin investment for at least a decade.
DCA strategy of investment would ensure you save or accumulate enough Bitcoin in a safe cold wallet or air gapped wallet while abiding to risk management practices that wade off and prevent scammers and hackers and account freeze actions from your bank.

All you can do to better your situation right now is to do proper research into the Bitcoin market and technology, so as to be aware and knowledgeable enough to invest by yourself and keep it safe.

[Akaenyi]

Firstly is to outline the area I am coming from as a business person I am a barber and I own a barber shop so as of late last year someone introduced me to bitcoin and it's beneficial interest as he outline them for me that Is a futuristic investments  so I picked interest in it but there is a question I forgot to ask him  how can I go about it with my little income business that I am doing

It is a good thing that you have gathered some information about Bitcoin from your friend and you can ask for direction in any additional information like you're doing now. The important thing is that you have made up your mind to go into Bitcoin investment, now your worries is about how to buy with your little income. To answer your question directly you can start Bitcoin investment with as little as 15 thousand naira.

If you want to be continuously buying you can research about DCA strategy, the method is to be buying weekly or monthly with amount that will not choke you. It means that you are supposed to have discretionary funds which is different from money to survive and run your Berber business. Learn to protect the security of your wallet and all the best as you start your journey

[Creeper0]

My first advice would be, do not invest in Bitcoin based on others or on the advice of others. You will be fully responsible for what you do with Bitcoin and its results. You must appreciate the person who introduced you to Bitcoin. Your first task now is to research Bitcoin and gain basic knowledge about how to buy and store Bitcoin.

You have already taken the first step to start investing, prudent money or prudent income source is one of the basic foundations of investment. Now you need to gain basic knowledge about investment and start investing. Then you need to gain deep knowledge about investment to make the investment successful.

Set a goal in investment (at least 1 cycle = 4 years) to increase the expansion of the business by taking profits from Bitcoin and make continuous investments according to the goal. Then you can take profit from the investment during a bull market or after the halving when Bitcoin crosses the ATH.

[SatoPrincess]

See you have said it rightly discretionary income has a major role to play in a situation like this and having knowledge of what am about to go into is advisable as well but you know how it goes when you see someone doing well in this area of bitcoin and you have anxiety to progress as well so might not ask much questions rather you will like to try and see

Here lies the underlying problem. Bitcoin is not a get rich quick scheme. No be because say you dey see others dey make money from bitcoin you go think say na so e be. Many times the profits way you dey see na people way don dey hodl for years way sell some of their coins at profit. You way just won start now need to carry for mind say you go need to hodl your coins for years if you won see any ROI.

[Mhizlove]

Bitcoin is open for everyone with small income you are good to go into investing, it just requires you to be consistent and have patience when investing and you don't need much to invest, with a little amount you can start it might be on weekly or monthly bases it all depends on how you want to save. Also learn more about bitcoin to avoid regrets and mistakes,keep on with your work because it what brings or gives you your daily bread bitcoin is just an extra to make you stand or it's just a backup plan for the future

[fredericktaylor]

Firstly is to outline the area I am coming from as a business person I am a barber and I own a barber shop so as of late last year someone introduced me to bitcoin and it's beneficial interest as he outline them for me that Is a futuristic investments  so I picked interest in it but there is a question I forgot to ask him  how can I go about it with my little income business that I am doing

First of all, you need to understand that Bitcoin cannot make you rich quickly. To be successful in investing in Bitcoin, it is very important to gain the right knowledge. It is also very important to have a reliable source of earning and to have a good understanding of market volatility. It is better to purchase Bitcoin with prudent discretionary money so that you can hold onto Bitcoin for the long term in any situation without financial stress. Bitcoin is a long-term asset. When you acquire the right knowledge, as well as buy small amounts of Bitcoin consistently with a long-term plan and hold it for the long term with confidence, you can expect profits in the future. Without the right knowledge, buy Bitcoin only with the hope of making quick money is likely to result in financial losses.

[Callido]

Firstly is to outline the area I am coming from as a business person I am a barber and I own a barber shop so as of late last year someone introduced me to bitcoin and it's beneficial interest as he outline them for me that Is a futuristic investments  so I picked interest in it but there is a question I forgot to ask him  how can I go about it with my little income business that I am doing

Make sure to know if what you make is enough to carter for your needs while there are more to go into investment. There are problems that those who are not like the big investors usually find themselves, in a context where every money spent is crucial and could sort out certain expenses especially emergencies, that is the reason why emergency funds can be first of all built before entering Bitcoin, or if capable, run both at the same time.

[Mr Reporter]

See you have said it rightly discretionary income has a major role to play in a situation like this and having knowledge of what am about to go into is advisable as well but you know how it goes when you see someone doing well in this area of bitcoin and you have anxiety to progress as well so might not ask much questions rather you will like to try and see

Here lies the underlying problem. Bitcoin is not a get rich quick scheme. No be because say you dey see others dey make money from bitcoin you go think say na so e be. Many times the profits way you dey see na people way don dey hodl for years way sell some of their coins at profit. You way just won start now need to carry for mind say you go need to hodl your coins for years if you won see any ROI.

Well don’t blame the guy it how the country has shaped this mindset so you should not even figure out thing like that self, A lot of many guys in Nigeria are all having same type of mentality that bitcoin is just there to sever as quickly rich investment, and it should not be even sounding like this at all bitcoin is not meant for the purpose of now it meant for the future, why should you have to sell your bitcoin just for some little profit that really not a mindset of an investor..

[MainIbem]

See you have said it rightly discretionary income has a major role to play in a situation like this and having knowledge of what am about to go into is advisable as well but you know how it goes when you see someone doing well in this area of bitcoin and you have anxiety to progress as well so might not ask much questions rather you will like to try and see

Here lies the underlying problem. Bitcoin is not a get rich quick scheme. No be because say you dey see others dey make money from bitcoin you go think say na so e be. Many times the profits way you dey see na people way don dey hodl for years way sell some of their coins at profit. You way just won start now need to carry for mind say you go need to hodl your coins for years if you won see any ROI.

That's what many people don't understand, they cone in with the mindset of getting quick money cause they saw someone progress through it or heard success stories of people who invested in ut without knowing the sacrifice they took to become successful in it, but time would make them understand cause if they end up investing with the mindset of short-term goals, they'll definitely get to figure out on the long run, volatility has it's way of dealing with investors that come in for short-term gains.

[yixichloro2xx]

See you have said it rightly discretionary income has a major role to play in a situation like this and having knowledge of what am about to go into is advisable as well but you know how it goes when you see someone doing well in this area of bitcoin and you have anxiety to progress as well so might not ask much questions rather you will like to try and see

Your DCA funds depends on how much you make per month as a barber let say you cut an average hair of 7 people per day for 30 days and you charge #1500 per haircut, so ( daily income will = 7 * #1500 =10500 per day, then #10500 * 30=#315000 per month). Then let's remove expenses like fuel cost of maybe #80k per month so your balance remains= #235000 . Then expenses like Shop rent, Blade replacements, Clipper servicing, feeding & small supplies leaves your take home balance per month maybe at 170k out of that you can remove 15k- 20k for DCA funds depending on your life situations. Everything I calculated is based on assumptions, at times you might not even see up to 4 customers per day.

[Asiska02]

Firstly is to outline the area I am coming from as a business person I am a barber and I own a barber shop so as of late last year someone introduced me to bitcoin and it's beneficial interest as he outline them for me that Is a futuristic investments  so I picked interest in it but there is a question I forgot to ask him  how can I go about it with my little income business that I am doing

Buying bitcoin can be so much have a lot of cost effect for small investors like you. The fees to pay for buying every quantity of bitcoin if accumulated can actually get you to pay lesser and own more bitcoin. What I’m irritating is that you should accumulate quite a reasonable amount of money before you’ll buy some bitcoin. Not too much but enough that the transaction fees won’t be so much accumulated that in a year you should have used that to buy more. The DCA method is a very good strategy, but it does not sit well with small business owners like you that needs to have accumulated plenty of money before buying. As an investor, you would want to actually have enough at hand to buy more and save transaction fees, this is best for you while still employing the DCA method overall.

[Rruchi man]

I forgot to ask him  how can I go about it with my little income business that I am doing

Two things I like to say,
- The fact that you can invest in bitcoins regardless of what you earn makes bitcoin attractive, as it has created an opportunity for low-income earners like yourself to be able to still have some form of investment. From what you earn, if you are really interested in investment and disciplined about it, you will still be able to profit from it.

- Secondly, I would like to tell you, OP, that you can actually make more from your business if you expand, because your business is a profitable one as long as you know how to give a proper haircut.

If you can invest some of the profits from your little salon, you will be able to make enough profit later from your investment to be able to expand your business.

[Jubilee58]

When it comes to investing, everybody does not have thesame capacity of investing, while some investors have the capacity to start very big , some of the investors also started very small, but the matter is not all about how much you use to start your investment, but is all about remaining disciplined, focused, consistency and patience.
As a new investors venturing into bitcoin investing, your main priority should be the security of your bitcoin and as a result, you will need a secured wallet, generate your seed phrase and ensure they are intact in other to grant you easy access to your wallet.

[I_Anime]

Firstly is to outline the area I am coming from as a business person I am a barber and I own a barber shop so as of late last year someone introduced me to bitcoin and it's beneficial interest as he outline them for me that Is a futuristic investments  so I picked interest in it but there is a question I forgot to ask him  how can I go about it with my little income business that I am doing

First see it as a  normal investment. Then set a goal , work towards but you will need some basic knowledge how bitcoin works and the purpose was created the first place , which will help strengthen your confidence in investing on it more. So that you won't be like those that endup given up half way.

Yeah bitcoin is going to gain more adapters as time goes and many will began to see the value and beauty of bitcoin not just as an investment but as an Storer of wealth too .