Why do we feel that bitcoin investment is only for rich people?

[Y3shot]

Nobody dey feel say bitcoin investment is for the rich people, bitcoin investment is not meant for the rich, it was meant to everyone, before now people that invest in Bitcoin were the poor people, why they invest in Bitcoin, is because they want the investment that will increase their chances of making money, but some people no no say na poor people na them start to dey invest for bitcoin, so over to the business, bitcoin investment is good but why people think that na rich people only dey invest for bitcoin, na because of rich people dey get patient for investing in bitcoin

Over time, as Bitcoin's value was increasing, many people thought investing in Bitcoin would make one rich just because of the value they saw from Bitcoin. Because of how the price of Bitcoin has increased, some people think you have to be rich to invest in Bitcoin because they believe investing in Bitcoin means buying 1 Bitcoin or the worth of Bitcoin they see in the market.

 The truth is that many people have different perspectives about Bitcoin; some think Bitcoin is expensive or that it is only for the rich. However, with an understanding of Bitcoin, one can afford to invest any amount they have, and Bitcoin is not just for the rich.

[Tungbulu]

Whoever feels this way is wrong, there is no designated class that is only allowed to access Bitcoin, even the poor of the poorest can still ascertain Bitcoin if they wish to, depending on the capability and financial status.

I honestly don’t agree with this assertion. Yes you don’t have to be rich to accumulate or invest in Bitcoin but that still doesn’t mean that you don’t need to attain somewhat level of financial capacity to do so. The poor of the poorest as you simply put it may have a hard time with being consistent in Bitcoin accumulation, as Bitcoin accumulation requires you to put aside at least 2-3 months cash worth of your living expenses as backup or emergency fund. This would be difficult for someone that’s extremely poor as their priority at such state would be to even afford the next meal.

Plus, bitcoin accumulation requires one to first of all sort out all their essential expenses first before using what’s left to accumulate, and if anyone is able to afford or sort out their basic and essential expenses, then they can’t really be placed in the poor of the poorest class.

[Somto9Light]

I also disagree with the sentiment that the Bitcoin investments is only for the rich people, upon say not everyone can afford to invest in bitcoin but that doesn’t mean is only rich means can afford to invest in the bitcoin. What most of the people find difficult when came to invest in bitcoin is capital, but ever since the DCA method was introduced everyone find the Bitcoin investment very easy both the rich people and poor once; because with the little amounts they’ve they can able to buy gradually with a DCA method.

That’s right.
Right now, your capital doesn’t necessarily have to be a huge one, in fact as long as you’re able to figure out your discretionary income, even if it’s just a small amount, you can use it to accumulate even the smallest chunk of sats and that’s the best part of bitcoin accumulation, all you need is consistency, discipline, patience and having a realistic long term plan, and you’re good to go, you definitely don’t need huge amounts or some sophisticated strategy to reach your long term goals in bitcoin.

[CryptSafe]

Bitcoin investment is not meant for the rich alone, but for everybody who is capable of investing in it. What is there is that the holders or potential investors need to have the knowledge at their fingertips on how Bitcoin works, because that would guide them on how to go about their investment as a bitcoin holder.  I just feel that it seems that only the rich are being seen as the major people who own or invest in bitcoin, because they have good funds at their disposal to get what they want, so it would be very easy to get bitcoin since they have the funds to buy a good volume of it, and they are also well-to-do.

[Agathamay]

Scammers don't scam using only bitcoin which means both the local currency can be used for scamming and even the best means of scamming is through local fiat because it is even more difficult to to trace as compared to bitcoin which can be tracked on blockchain.
Bitcoin isn't for the rich alone as it is a coin met for everyone and everyone can also invest in it regardless of the amount one wishes to invest and the best way to even invest as a small investor is to use the DCA and with this technique I think there is no excuse to anyone not investing in bitcoin if they really want to except they don't want

[ruykeri]

Bitcoin investment is not meant for the rich alone, but for everybody who is capable of investing in it. What is there is that the holders or potential investors need to have the knowledge at their fingertips on how Bitcoin works, because that would guide them on how to go about their investment as a bitcoin holder.  I just feel that it seems that only the rich are being seen as the major people who own or invest in bitcoin, because they have good funds at their disposal to get what they want, so it would be very easy to get bitcoin since they have the funds to buy a good volume of it, and they are also well-to-do.

I agree with you. Since Bitcoin can be bought in fractions, it can be accumulated in small amounts, so if any person has discretionary income, then he can invest in Bitcoin. But the advantage of rich people is that they can take risks. They can hold for a long time if they want. Because they have a financial situation to meet any need at any time. But having the right idea about knowledge or investment is one of the most important things. I would say practical understanding matters more effective in Bitcoin investment.Even if a person knows less about the technical details of Bitcoin, if he understands his finances, buy with small amounts, has a long term mindset, and buys regularly, he will be in a much better position compared to some other guy who talks big about Bitcoin but still keeps hesitating in bitcoin investing.

[sotelorene]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

I don't think I have heard anyone say that Bitcoin investment is only for the rich and even if they do... It is not true because anyone can invest in Bitcoin as far as they have their discretionary income because discretionary income is what will determine if you will invest or not and fortunately not only rich can afford discrestionary income even people who are not rich can also afford a discrestionary depending on their expenses and cash flow. It is good to worry about the disadvantage of anything we want to do but I will advise you don't trouble yourself much but rather keep your password, seed phrase and every other important details safe and you are good.

[fredericktaylor]

Well,me as an individual l do not support that concept that bitcoin investment is for only rich people.
One thing l believe in business generally is mind set. While some persons may be interested in investing in bitcoin,there are also persons that  may not want to even talk about bitcoin because of the high risk involved.

When l talk about the risks involved, l mean scammers, fraud etc.
So it doesn't matter wether you are rich or poor, any body can be scammed or defrauded.

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

Anyone can invest in Bitcoin, but it requires the right knowledge and discretionary money. Another big advantage of buy Bitcoin is that an investor can buy Bitcoin according to his ability, no matter how small the portion. It does not matter whether you are poor or rich when buy Bitcoin, the main thing in investing is to maintain consistency and plan for the long term.

You can achieve success in the future buy small amounts of Bitcoin, but this requires proper knowledge and disciplined consistency. When an investor buy small amounts of Bitcoin consistently with long-term plan and holds Bitcoin with confidence during market volatility and waits for good times, the investor can expect long-term profits from Bitcoin. An investor can be poor or rich, that cannot be the main thing for buy Bitcoin.

[Dr.Bitcoin_Strange]

It is true that the value of bitcoin has gone up to the point that every body now thinks that bitcoin investment is only for the rich alone. I will still say it is not true because proper planning matters.

Those people with such misconception are newbies, they just got into crypto for the first time and they definitely did not get on Bitcoin with a right source, they have learned from an altcoiner who to them that meme coins are the best and it's cheap, their mentor taught them about quantity and not about quality and value, that's why people with such misconception rejoice over the billions of shitcoins that they have in their wallet. As a newbie, learn about Bitcoin from the right source and not from those articles that doesn't give a concrete information about Bitcoin.

[MorganaX]

Scammers don't scam using only bitcoin which means both the local currency can be used for scamming and even the best means of scamming is through local fiat because it is even more difficult to to trace as compared to bitcoin which can be tracked on blockchain.
Bitcoin isn't for the rich alone as it is a coin met for everyone and everyone can also invest in it regardless of the amount one wishes to invest and the best way to even invest as a small investor is to use the DCA and with this technique I think there is no excuse to anyone not investing in bitcoin if they really want to except they don't want

Not being able to invest due to reasons like this makes it super crazy because scamming is done is virtually all the type of money and fiat for one is even the most powerful and popular means of scamming. I can take the political figures and business scams that tend to use fiat distribution for there massive ponzi schemes and of many times people still fall or Bitcoin investments shouldn't be tied to this reason at all.

[Fiasem20]

Scammers don't scam using only bitcoin which means both the local currency can be used for scamming and even the best means of scamming is through local fiat because it is even more difficult to to trace as compared to bitcoin which can be tracked on blockchain.
Bitcoin isn't for the rich alone as it is a coin met for everyone and everyone can also invest in it regardless of the amount one wishes to invest and the best way to even invest as a small investor is to use the DCA and with this technique I think there is no excuse to anyone not investing in bitcoin if they really want to except they don't want

Not being able to invest due to reasons like this makes it super crazy because scamming is done is virtually all the type of money and fiat for one is even the most powerful and popular means of scamming. I can take the political figures and business scams that tend to use fiat distribution for there massive ponzi schemes and of many times people still fall or Bitcoin investments shouldn't be tied to this reason at all.

Talking about scam,fiat is even the most used currency ussd by scammers to lure victims.I keeping telling people not to think that phishing scam is only restricted to the crypto space rather even in the traditional banking system they are still scammers that use the phishing tactics to lure victims.So don’t think people that aren’t using the bitcoin blockchain network are free from scam,so in my own opinion not participating in the crypto space because of the high rate of scam is the most uninteresting reason I’ve heard so far.

[Mate2237]

phishing scam is not only related to crypto currency infact to the best of my knowledge this type of scam has existed before the emergence of crypto currency. phishing scam work in any business that can work work online infact it can also work as as a text message. As far as you can click the message and it direct you to their scammers site they can get your details and information to get you scam.


The scamming techniques that has been used by scammers to defraud people off their money to me is not quite different from the every day scamming techniques used to scam other businesses. The fact is that if you can stay informed you will not be a victim of scam.

[AmaGold70]

This is purely a misconception, more especially in the side of novis or newbies. Anybody can invest in bitcoin, weather you are rich or not. When it comes to investing, you only do your investment according to your financial strength, and another thing that is so important is to know the secret of the business and deploy the best strategy in other to succeed. And this is exactly what bitcoin investing is all about.
We quite understand that Bitcoin is no longer  cheap in price and it has grown massively. Unlike the days bitcoin was under a dollar, then even with $1000 investors were able to afford hundreds and even thousands of bitcoin. Today bitcoin is no longer cheap, but you can by in fractions and still make good profit from bitcoin regardless if you are rich or not.

[7juju]

First of all,mind set and then adequate plann.....if these things are put together trust me any body can invest in bitcoin despite your status of being rich or poor.

Mindset and planning are not enough for you to invest in bitcoin let’s tell ourselves the truth. You need money to invest in bitcoin. Without money you can’t get bitcoin for free in exchanges. A poor man has no business investing in bitcoin. A poor man need to improve his financial status before thinking of investing in bitcoin. A poor man is a man without money. Someone who struggles to meet his personal and family needs.

 If you are able to invest in bitcoin you are no longer a poor man. A poor man have no savings, he lives from hands to mouth. Just know that if you are able to invest in bitcoin you are no longer a poor man. Even though you might not be the richest person in you community or family. But financially you can provide for yourself, and your family lacks no basic human needs. The moment you are in this bracket you are not poor you can confidently invest in bitcoin. The point I’m making is that you have to know what being poor is all about.

[Crakryptvest]

The truth is that many people have different perspectives about Bitcoin; some think Bitcoin is expensive or that it is only for the rich. However, with an understanding of Bitcoin, one can afford to invest any amount they have, and Bitcoin is not just for the rich.

There was a time I was thinking that Bitcoin investment was as for the rich only but the DCA method of investing in Bitcoin helped many of us you refrain from such mindset, learning is a very good thing, being part of a forum like this changed many of us for good, without having the knowledge that Bitcoin is not for the rich, there potential investors that has been living in deceit that Bitcoin investment is for the rich alone and that's because they don't know that they can invest with their left over funds and not even all their left over funds, they can decide to share it it different segments depending on the figure that's left after they have met all their needs.