Can the average Nigerian actually afford to DCA?

[Antidote47k]

The main thing no be whether Nigerians fit afford DCA, but whether they fit do the type wey go match their own pocket.
DCA just mean say you dey drop one fixed amount consistently, whether market dey sweet or e dey sour. The amount self no matter, na the consistency be the main ginger.

But me sef  gree with you say many Nigerians get serious matter wey dey hold them for neck right now. If person dey suffer to buy food, pay rent, enter transport, or even clear school fees, make we no lie, Bitcoin investment no suppose dey the top of the list. E no go make sense make you dey starve yourself to build portfolio today, then next week you go sell am because emergency bump enter. That one na double wahala.
Where I disagree na that side wey you say na only person wey their life don set, or get steady hand, fit do DCA. Even guys wey dey run daily hustle or get irregular income fit Dey game, they go just tweak the rules small. Instead of "every month," their own fit be say anytime wey money dey hand or anytime wey extra change remain after expenses, they go just chop inside pull small percentage put inside.
To me, the real secret of DCA no be say you must get big salary. Na to get that money wey you know say your mind don comot from am for near future. If you no get that kind backup, even if your DCA plan solid, you go still end up dey force yourself sell am when urgent 2k hit you.

[Versatile_choice]

Of course, the reason why the DCA method was introduced is to help those that can't afford to buy in lump sum. With the DCA method you can invest according to your financial capacity so this means that the DCA method is for everybody.

At the same time, It feels like the DCA method is mainly for those average people you're talking about because, those rich people find the DCA strategy very boring so they prefer using the lump sum strategy. Although most of the rich make use of this strategy regardless but they will be more aggressive while investing with that method. While those average people are always comfortable with it since it gives them the opportunity to invest with any amount.

[Coin_info]

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DCA will require some sacrifices and everyone who does so is actually doing a sacrifice. The average Nigerian can actually afford DCA, it depends on the level of sacrifices that they are willing to make. The amount of money you are sacrificing does not have to be a huge amount of money you just have to show willingness to sacrifice even a small fraction of the amount of money you make occasionally to invest in Bitcoin. I believe that if you're able to do so slowly you will to build up from there because even little drops made in investments can turn into something very big.

[gracreavix]

You have a point, Nigerians are poor and they are finding it difficult to actually feed talk more about investing. The truth is that if one is basically tired of his or her situation a way will be found. After all, things won't be handed over to you. One has to work his or her way out. But for DCA investment, one surely must have a stable income. Without that all will be smoke screen. Stable income is a must. I say this with so much confidence because at the end of the day, you might invest and end up withdrawing it out again. Just as OP as said.

Stable income then you can diversify.

[Fiasem20]

The question be say, e go advisable for someone wey him income no dey stable make he do DCA?

With the level of hardship, and with what I have seen, I think it's best that some people just find ways to survive, rather than trying to start what they can't keep up with. Some people's priority at the moment is just to feed. Most people don't even have discretionary income because every single penny ends up going to one thing or the other. There are those who earn far below the minimum wage. Let's be honest with ourselves, an average Nigerian is not in a good position to DCA something meaningful for long. He/she is likely to fall back to their investment after a short while... And that's if they even have something to set aside.

I support your opinion 100%.With the current economic downturn I don’t think an average Nigerian can invest on bitcoin for the long term,you may start the DCA with the least amount but as expenses begins to expand due to high cost of goods in the market that least amount may no longer be there anymore.You aren’t investing today so that you can reap the investment prematurely tomorrow,that’s not what it is rather investment is more profitable when you reap it in the long term.It’s not about starting,the question would be;how consistent do you think you’d be?Normally dem say advice dey sweet for mouth well well,this one no be time to sugarcoat words oh na who don chop belleful nai dey invest on bitcoin.

[Salahmu]

Average person is more than financial strong for DCA or even the DIp because people that's below average in Nigeria are the ones that should be wondering if the money they have can actually give them a chance for DCA. Actually is a false believe that all of us here are millionaires that is why we are investing in Bitcoin but however that's not the reason because when determination is working that's how people think about others who has Bitcoin so actually if you start believing that you also have what every other person has to invest in Bitcoin you will see yourself accumulating like everyone.

[Btcdeybodi]

I dey feel say most people wey dey talk about DCA na people wey their lives don settle one kind, abi I lie?

Just the same way people still dey save money despite the harsh economic situation of the country, na so some people dey take invest in Bitcoin using the DCA. We dey feel like say investing in bitcoin na by using big money but no be so. FYI, nobody wey don settle because even the people wey we dey see say dem get money still dey find more too so no man dey get enough for himself. Even as the economy bad like this, person wey wan invest in Bitcoin fit still meet up inasmuch as the person get source of income. 10% or 5% from person income no go bad to take invest with because na just small portion of their income be that so if you can't manage yourself to save money and make investment e go really worry you for future because na only feeding money you fit dey afford for yourself and if anything happen to that your source of income e mean say your life go spoil.

[Mr_Brilliant$]

Average person is more than financial strong for DCA or even the DIp because people that's below average in Nigeria are the ones that should be wondering if the money they have can actually give them a chance for DCA. Actually is a false believe that all of us here are millionaires that is why we are investing in Bitcoin but however that's not the reason because when determination is working that's how people think about others who has Bitcoin so actually if you start believing that you also have what every other person has to invest in Bitcoin you will see yourself accumulating like everyone.

Many people dey look Bitcoin investment like say na only millionaires fit afford am, but nor be true.. DCA no require plenty money, na consistency matter pass..  If person fit dey buy small amount regularly without affecting their daily needs, over time e go add up..

The biggest challenge for most people nor be always the amount, but the mindset and discipline to start.. Plenty people wey get Bitcoin today no start with huge capital, dem start with small amounts and kept accumulating..

[CryptoHeadlineNews]

The question be say, e go advisable for someone wey him income no dey stable make he do DCA?

As e be so, e be like say we dey copy wetin other countries dey do, and those countries stable pass us. Most families there get disposable income. But for Nigeria side, e red.

I dey feel say most people wey dey talk about DCA na people wey their lives don settle one kind, abi I lie?

If you dey get the mentality say Bitcoin investment na for people wey don get stable income, then don't be surprised, you won't be able to invest in Bitcoin any day. Because when we talk about people investing via using the Dollar Cost Averaging method, it simply doesn't mean you have to be making huge money before you can venture into investing in Bitcoin in that manner. Because no amount is too small, as long as you remain consistent with your investment. And if you are very broke and not financially bouyant enough, you can choose to either invest yours every 2 months or 3 months. Rather than monthly.