Getting rich off Bitcoin is impossible for the majority

[Bit-Mj1014]

Investing in anything is always risky, getting rich doesn't just happen over you have to set a pattern and stick to it, you said you earn $50 per month, best thing you can do is use the DCA method of investing, use $15 to buy Bitcoin at the end of every month, I said $15 so you use $35 for other things you have to do, $15 is 30% of your salary, do this consistently for About 3years, and you'll testify.

[Doan9269]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

Do you know the reason why many do not have the same ability to make a profit with their investment in Bitcoin, because they lack some vital information about how they could safely invest in Bitcoin and the profitable, it is not advisable to invest without having a proper plan in place. At the same time, we may as well invest and also got engolved by unforeseen circumstances that may warrant them to sell their Bitcoin, which is an unplanned situation that they have to opt out of the market, not knowing that there are crypto assets management platforms that ensures things run on a better flexibility for investors to source liquidity very fast and more conveniently, you may try coinRabbit and still hold back to your Bitcoin without selling it, you cannot only make profit but secure your assets in Bitcoin over a long duration without selling it and still make more profit that can make you rich.

[liasbaa]

One lesson is that everyone around you earns. Some people are more skilled so their income is higher. Some may be less skilled so their income is relatively lower. Despite having an educational qualification, not everyone can live a rich life. Everyone has different thinking and mental capacities, so some become rich quickly and some live a poor life.

There are many people in your country whose income is low, yes there are many countries where people are not able to meet their basic needs. Consider their case in a different context because it is not mandatory for them to make any other investment. If you have $100 discretionary income per month, it is not mandatory for you to accumulate Bitcoin. But if a person has a temporary source of income, many of them are accumulation Bitcoin. In my country too, there are poor investors who are poor and have only $10 discretionary income at the end of the weak, you can find bitcoiners among them because it is a kind of individual thinking and mental strength. Not just to get rich, they try to build a decent holding of Bitcoin and accumulate Bitcoin within their limited financial capacity, even if it takes a long time.

[SOKO-DEKE]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

That is the fact many newbies don't always want to hear, and the point is that even the profit is not guaranteed, it all depends on the stage the investor follows. If anyone goes ahead and invests in Bitcoin with the aim of making profit within a short period, they may regret it because the profit may not come within that short term.If someone wants to make profit from Bitcoin investment, they must be ready to hold for a long period of time. Many people have failed in their Bitcoin investment because they never had a long-term plan for Bitcoin, and doing it that way can lead to selling at the wrong time.I have seen someone who invested a reasonable amount of money in Bitcoin and had a short-term target. When the target period to sell arrived, the price of Bitcoin was down, and the money invested in Bitcoin had other plans attached to it. That is how it ended up being sold at a loss.

[Odusko]

Investing in anything is always risky, getting rich doesn't just happen over you have to set a pattern and stick to it, you said you earn $50 per month, best thing you can do is use the DCA method of investing, use $15 to buy Bitcoin at the end of every month, I said $15 so you use $35 for other things you have to do, $15 is 30% of your salary, do this consistently for About 3years, and you'll testify.

Yes, risk is part of investment, and once you can't handle your risks and manage your investments, there is no way you can build financial flows through such investment. This is where you have to build knowledge and take conscious actions that put your investment in a position that can generate steady financial streams that can make you become rich. Bitcoin is one investment that can give you that outcome if you do it smartly and do not rush things. Actions and plans need to be put in place to guarantee your success in investment through Bitcoin.

[Ndabagi01]

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

Investing in bitcoin is not a most and if you must see bitcoin as another means of getting rich or have a targeted goals you’re wanting to get at, then you would have to level up your commitment to the investment. I know $50 is looking so small to you that you can’t even spare enough to invest in bitcoin, this is fine as the investment is not a most for everyone. In this investment, you can only get as much profit as to the capital you’ve invested into it, so no amount is too small for you to invest into.

The percentage of profit you get is equivalent to the amount you’ve also invested into it. You may get 200% more of what you’ve invested but since you’ve invested a little amount, the significancy of it won’t be felt and one who invested a more amount than you, will feel more richer. This is how it works and the blame is not of the system, but your level of commitment to the investment. The more you invest, the more chances you get at making more money from the investment when it skyrockets and vise versa.

[Donk1]

Every Bitcoin enthusiast's motive in their investment is different True talk the potential needed to thrive is very much demanding but still there are folks who buy and hold and maybe something happened and they had to sell it all while some folks has been holding for years. That even the system now consider their coins as lost coins. Why Because they haven't touched from their investment. And believe it or not the difference between this two set of people is emergency funds or back up funds.

That said bitcoin isn't a get rich quick scheme, But as the number one crypto currency getting rich is very possible but it requires time, patience, and consistency and that's not what everyone has. Even at that, the system doesn't say anything like it's for the rich or it's for the poor so yeah, it's up to every individual to understand how to implement their decisions. Overall I believe everyone's financial success and struggles are different but still, we often push through So yeah the answer to your question is that you will still invest because you already have the mindset that during a period of 5 years, your investment would increase in value even with the risk involved. So stop focusing on the getting rich invents, the goal is profit and the asset is there to serve its purpose it's up to you not the system..........

[Faisal2202]

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

Your salary is really low and I know my comment must not be helping but you have to focus on increasing your salary first, not on how to become rich with bitcoin. It is not a rich scheme that you can become rich overnight. You have to dedicate time to learning skills that you can sell to increase your monthly income. Mostly sell their skills, mostly use them on the market, like after learning some aspects of trading, they mostly trade.

Because once you make $5 or $10 by mistake in trading in a single day, your life will change, or at least your concept of money will change, because now you have seen the real potential it has. You can even make $50 a day from trading alone. That would be life-changing for you, so first learn how to trade and how to make at least $1 a day in your situation, that should be the first target. After that, move on to the next targets.

[ZAINmalik75]

You should also know that, bitcoin alone may not make you rich, diversification will. When you get your profits from investing in bitcoin, you can invest the profits in other kinds of investments that will bring you consistent returns so you do not have to rely on bitcoin alone. Bitcoin is not a get-rich-quick investment.

That's good advice and reasoning if considered, because OP's question indicates that newbies think getting rich is possible from Bitcoin, but then they look at the price and compare it with the prices when it was worth cents back in 2010. But let's not go that far here. Most of them are just comparing it with, let's say, the 2018 price, and they think the time has passed for them and they can't make the same kind of profit. But what they overlook is the patience and trust that these holders dedicated to Bitcoin.

If you consider Bitcoin as a get rich quick scheme, you will never become rich no matter what you do. No matter how much anyone diversifies, it won't matter.
The only thing that matters here is patience with Bitcoin because that has paid more than anything else. Trust is needed to have patience, otherwise patience wears off and we sell.

[Cryptoprincess101]

For the fact that you are investing in bitcoin doesn't mean you should be lazy and not offer services or do other jobs to raise money. Nobody depends on their bitcoin investment alone and just as you said, it is difficult for bitcoin to make one rich especially someone that started investing when the price was already high but there are still profits in it and apart from the profits, it is a store of value so instead of keeping money in fiats, it is preferrable to store it in bitcoins since it is an hedge against inflation. Bitcoin's price is high now unlike during the early days when someone can even buy thousands of bitcoins with a few dollars. About crypto YouTubers who make money from the useful contents they post on YouTube, do you know if they invest some percentage of their earnings in bitcoins?

[batang_bitcoin]

Investing in anything is always risky, getting rich doesn't just happen over you have to set a pattern and stick to it, you said you earn $50 per month, best thing you can do is use the DCA method of investing, use $15 to buy Bitcoin at the end of every month, I said $15 so you use $35 for other things you have to do, $15 is 30% of your salary, do this consistently for About 3years, and you'll testify.

They have to remember that "Rome wasn't built in a day". There are risks, there are trials and all other circumstances before someone achieves matter in investing. The level of patience that everyone is exerting is a lot, and that can't be compared to each of us because we've got our own problems that we've won and faced. So, if someone earns a little a day and it's not enough to invest. Sell some things, sell your time for more money and that's how the world works. It won't stop for us but we have to move as it moves on its own.

[red4slash]

High skills is sure to get you there than expecting to get rich with Bitcoin, today getting rich with Bitcoin is almost impossible for people like myself, because how much I earned every month as salary, getting rich out of Bitcoin investment today suits already rich people more not strugglers...

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

That's a sign that bitcoin is not suitable for you and forces you to never feel satisfied results from the investment that will be carried out because from the start you are not sure what you want to do. Therefore it is better to stop and not make bitcoin an option because from the start you have been very forced and only think that bitcoin is a get-rich-quick scheme.

Keep in mind from the beginning that being in bitcoin and investing in bitcoin is not to make this a benchmark that we become rich but so that at least we can improve economic conditions in the hope that when investing in a slightly longer period of time then the possibility we will get an increase from the investment made. I never felt that this was a quick way for me to get rich but until now I will not deny that from bitcoin I can improve my financial condition. Even if it can't be said to be rich but my condition is much better than when I didn't know bitcoin before.

[BALIK]

you said you earn $50 per month, best thing you can do is use the DCA method of investing, use $15 to buy Bitcoin at the end of every month
$15 is 30% of your salary, do this consistently for About 3years, and you'll testify.

Bitcoin is never a shortcut to earning. It is very easy to tell a low income person to deposit 30% of their salary in Bitcoin. But it is difficult to put it into practice. Particularly in developing countries where people's basic needs are not met. Patience is not a big deal the real problem is not having a single penny in hand at the end of the day.

For such people, there is no point in sacrificing their standard of living and pouring heaps of money into Bitcoin. I would rather say that they need to try to increase their income first and at the same time they can buy Bitcoin with a little money regularly when they get chance

[Questat]

It's not actually impossible, people can get rich from investing in bitcoin, but they should also learn those trading skills, mining, and even consider lending business with bitcoin. Bitcoin will generate profits from different sources, from different flows of income. But investing alone could be very hard to become us rich from just a small amount. It has to be perfectly paired with other bitcoin activities. Because if you want to be rich, you have to do something, you have to take higher risk even it means losing at first.

There are no shortcuts to get rich, you have to be well-skilled whatever that is connected with bitcoin.

[Franctoshi]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I disagree. There's no guaranteed profit because it doesn't mean just because you bought Bitcoin you will become profit guaranteed; no, your approach towards your Bitcoin investment will determine whether you will come out profitable because the time I checked, the Bitcoin market is still volatile. Your patience, and period of holding put together are two key factors: knowing when to enter and when to exit. If you bought today and tomorrow the market tanked; if you didn't have patience, you might get forced to sell at a loss. Now in this case, are you going to be profitable?

[Smartvirus]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I believe that being of service is what will get anyone rich, if I am wrong why are your favourite Crypto YouTubers wanting to make videos every day to get paid by YouTube service?

I’ll put it simple for you,

People get rich or attain some form of financial stability by providing needed service, sell products or commodities that are in demand or invest in the right asset.

In the last couple of years, Bitcoin has proven to be the right asset. It has made millionaires in all currencies, those who were able to buy at least 15BTC back in 2010 through 2015 when Bitcoin didn’t cost more than $500 on average and that’s me being sweet here.

In today, your little investment in Bitcoin might not seem like a lot, it might not give you the signal you would expect for an explosive growth but, let it ride on the years and you would be on to something.

[yixichloro2xx]

‎I think this should be a common knowledge to everyone, it is quite hard to become rich through Bitcoin. The only way is if you are a whale or an insider, but someone with a minimum of small income shouldn't put their hope on becoming wealthy through Bitcoin. The only thing we can get is good gains or profit after many years of consistent accumulation and holding during periods of uncertainty. It helps people in appreciating their savings, and also fight against inflation. Bitcoin can help protect and grow the little profit someone is able to save. To get rich, you will need to be an entrepreneur, good skills, or services that can be able to generate massive incomes steadily. The best thing is to do both investing in Bitcoin and also your business or any other source of income together.

[Johnlomape]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I believe that being of service is what will get anyone rich, if I am wrong why are your favourite Crypto YouTubers wanting to make videos every day to get paid by YouTube service?

High skills is sure to get you there than expecting to get rich with Bitcoin, today getting rich with Bitcoin is almost impossible for people like myself, because how much I earned every month as salary, getting rich out of Bitcoin investment today suits already rich people more not strugglers...

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

You need to explain more about what you mean by someone can not become rich investing in Bitcoin.
If you bug Bitcoin when the price was very low maybe during 2015, by now you would have become rich even though the Bitcoin you brought is worth $5k. There is power in holding Bitcoin and when you think holding for a short term is what is going to change everything about you, you must be mistaken because Bitcoin can only make you rich when you invest for a long term. Buy and hold is what is going to make the difference.

[Abiky]

Making Profit is the only thing that I can guarantee anyone who is investing in Bitcoin today, but getting rich by buying Bitcoin? I don't think that's completely true.

I believe that being of service is what will get anyone rich, if I am wrong why are your favourite Crypto YouTubers wanting to make videos every day to get paid by YouTube service?

High skills is sure to get you there than expecting to get rich with Bitcoin, today getting rich with Bitcoin is almost impossible for people like myself, because how much I earned every month as salary, getting rich out of Bitcoin investment today suits already rich people more not strugglers...

You think I am wrong? Then tell me how I can better my life using Bitcoin with $50 monthly salary, there are millions of people like me in my country earning this same amount.

You think? It's still possible to get rich with Bitcoin. Investing a little here and there (DCA) will help you build long-term wealth on Bitcoin. Assuming market prices will continue to go up for the forseeable future. Many people want quick results these days, so they will quickly get disappointed or frustrated when they don't see their dreams of getting rich with Bitcoin become a reality.

If you don't have money to invest into Bitcoin, you can always work for it. There are many jobs online which pay you in Bitcoin. In developing countries, $50 a month alone is a lot of money to make a living. Just my opinion.

[Don Pedro Dinero]

You need to explain more about what you mean by someone can not become rich investing in Bitcoin.
If you bug Bitcoin when the price was very low maybe during 2015, by now you would have become rich even though the Bitcoin you brought is worth $5k.

He doesn’t have to explain anything; he says he earns a monthly salary of $50. How much of that can he save to invest after paying all his bills? $1? That’s $12 a year, which, if he’d started buying Bitcoin in 2015 as you say, would have amounted to a total of just over a hundred dollars invested. Nobody gets rich on that.