Low Income Earners Can Also Build A Bitcoin Portfolio

[EstherBtc]

If you are new to bitcoin or with a low income, slow and steady is one of the best ways to invest in Bitcoin.
One of the biggest misconceptions about Bitcoin investing is that you need to own a whole coin before your investment matters.

Consistently buying small amounts with money you can afford to set aside is more sustainable than trying to time the market or chasing quick profits.

A slow and steady accumulation plan is commonly known as Dollar Cost Averaging (DCA)
https://river.com/learn/what-is-dollar-cost-averaging/?utm


This doesn't mean everyone should buy Bitcoin regardless of their financial situation. Emergency savings, essential expenses, and avoiding unnecessary debt should always come first. Bitcoin should be accumulated with discretionary income, not money needed for rent, food, or daily living.

The summary of this thread is:
1. Invest with what you can comfortably afford
2. Buy consistently (slow and steady)
3. Bitcoin investment is long termed not a short term
4. This isn't a short cut to quick profit
5. Don't use your spending money to invest

I would appreciate if we can also share how we were able to build our bitcoin portfolio to encourage low income earners

[SatoPrincess]

You don talk am finish. I know say wetin work for Peter no be wetin fit work for Paul. If na only me, I go say DCA na the best strategy to use gather bitcoins. No matter how small your earnings be you fit comot small thing from inside to take buy some sats. This strategy dey better than to dey buy lump sum way fit choke you later.

[EstherBtc]

You don talk am finish. I know say wetin work for Peter no be wetin fit work for Paul. If na only me, I go say DCA na the best strategy to use gather bitcoins. No matter how small your earnings be you fit comot small thing from inside to take buy some sats. This strategy dey better than to dey buy lump sum way fit choke you later.

For real, because as you dey accumulate the money na so the price of bitcoin go dey rise. So the best thing is just to buy small small without borrowing or inconveniencing yourself

[Hypnotizer]

If you are new to bitcoin or with a low income, slow and steady is one of the best ways to invest in Bitcoin.
One of the biggest misconceptions about Bitcoin investing is that you need to own a whole coin before your investment matters.

Consistently buying small amounts with money you can afford to set aside is more sustainable than trying to time the market or chasing quick profits.

So far you invest from your discretionary funds, DCA NCA is so far the best and easiest way to accumulate bitcoins overtime until when your totally accumulation reach an amount that actually matters.

A slow and steady accumulation plan is commonly known as Dollar Cost Averaging (DCA)
https://river.com/learn/what-is-dollar-cost-averaging/?utm

It doesn’t necessarily have to be called Dollar Cost Averaging though, it just “Cost Averaging” and the currency you’re using for the average determines what you call it. It can be called Naira Cost Averaging (NCA), Euro Cost Averaging or whatsoever.

This doesn't mean everyone should buy Bitcoin regardless of their financial situation. Emergency savings, essential expenses, and avoiding unnecessary debt should always come first. Bitcoin should be accumulated with discretionary income, not money needed for rent, food, or daily living.

Investment needs a plan, that’s your every intending investor needs to look at his financial situation and plan accordingly on how he can achieve his goals in the investment.  Not everyone is in a state where he can start an investment, so understanding your financial state is also very important.

[EstherBtc]

So far you invest from your discretionary funds, DCA NCA is so far the best and easiest way to accumulate bitcoins overtime until when your totally accumulation reach an amount that actually matters.


It doesn’t necessarily have to be called Dollar Cost Averaging though, it just “Cost Averaging” and the currency you’re using for the average determines what you call it. It can be called Naira Cost Averaging (NCA), Euro Cost Averaging or whatsoever.

The name shouldn't negate the strategy whether NCA or DCA as long as you can apply it in this context. Then it shouldn't be a problem.

This thread is for low income earners who are skeptical about investing in bitcoin and at large investment in any aspect of life. And it isn't limited to Nigerians

[sotelorene]

Low income is not the only thing to consider rather we should also consider the expenses at hand that must be cater for so if someone has a low income and a little expenses to handle then there will be a discrestionary income to invest if the person chose to invest in Bitcoin but if someone has a low income and has a huge expenses to handle hence it will be very difficult for the person to sort a discrestionary income which he won't be able to invest. I don't know what you meant by " someone should not invest with daily income “ like  I said what determines whether someone can invest is their cash flow and the expenses.

[Sammye3]

DCA strategy is the best method for people who intend to invest periodically and could also be seen as the best consistent method for Bitcoiners. Aside this, there is also the "lumpsum" method which would mean investing a huge amount all at once mostly for long term or business purposes. It is also a good way to invest as value would grow immensely in a shorter time compared to DCA method. Choose wisely based on your income, there is no pressure to how much bitcoin that should be accumulated.

[Creeper0]

There are still many people who do not know about DCA or that you can buy small amounts of Bitcoin with sats or mBTC. A few days ago, one of my uncles came to me for advice on crypto and asked me to recommend some reliable cryptos. When I told him about Bitcoin, he started saying that he did not have that much money to buy Bitcoin, I was a little surprised! He did not know that to invest in Bitcoin, you do not need to buy a whole Bitcoin, but you can buy small amounts. However, I tried to tell him about DCA and suggested buying some sats, but he did not pay any attention to my words. Later I realized that he was very interested in Shitcoin and came to me to find good Shitcoins. I tried to warn him about this, but he was probably not ready to listen to them. Then I tried to avoid the topic by saying that I am inexperienced in Shitcoins.

Although a few people know about Bitcoin, the correct knowledge of Bitcoin and the process of buying Bitcoin has not yet spread to many people. It is not that my uncle is illiterate, he is a high-ranking bank officer. But he still does not have much idea about Bitcoin and he does not have any idea about Bitcoin investment. If I had the opportunity, I would have seen him post like this that Bitcoin investment is possible even for a low-income person and Bitcoin can be purchased with a small amount. However, in this case, it must be consistent and there must be a long-term plan.

[EstherBtc]

There are still many people who do not know about DCA or that you can buy small amounts of Bitcoin with sats or mBTC. A few days ago, one of my uncles came to me for advice on crypto and asked me to recommend some reliable cryptos. When I told him about Bitcoin, he started saying that he did not have that much money to buy Bitcoin, I was a little surprised! He did not know that to invest in Bitcoin, you do not need to buy a whole Bitcoin, but you can buy small amounts. However, I tried to tell him about DCA and suggested buying some sats, but he did not pay any attention to my words. Later I realized that he was very interested in Shitcoin and came to me to find good Shitcoins. I tried to warn him about this, but he was probably not ready to listen to them. Then I tried to avoid the topic by saying that I am inexperienced in Shitcoins.

Although a few people know about Bitcoin, the correct knowledge of Bitcoin and the process of buying Bitcoin has not yet spread to many people. It is not that my uncle is illiterate, he is a high-ranking bank officer. But he still does not have much idea about Bitcoin and he does not have any idea about Bitcoin investment. If I had the opportunity, I would have seen him post like this that Bitcoin investment is possible even for a low-income person and Bitcoin can be purchased with a small amount. However, in this case, it must be consistent and there must be a long-term plan.

You can copy this thread and send to him to read. The issue with most newbies is that they are innocently ignorant not in a bad way though that is why topic like this is important to enlighten people about bitcoin and that anybody irrespective of what you earn you can have a port folio.

[Bright0515]

You don talk am finish. I know say wetin work for Peter no be wetin fit work for Paul. If na only me, I go say DCA na the best strategy to use gather bitcoins. No matter how small your earnings be you fit comot small thing from inside to take buy some sats. This strategy dey better than to dey buy lump sum way fit choke you later.

You are right, two different people might not be satisfied with one particular method during Bitcoin investment. Just like most people believe that the DCA'ing strategy is the best for them to accumulate Bitcoin for the long term, but some folks also believe that the DCA'ing strategy will literally slow them down from achieving their goal quickly.
As for me, the only strategy I don't like is duo hunting because the person will definitely miss out on some good opportunities because they wait for the price to drop before they start buying.
However, the crypto space is free, so everyone has the privilege to choose whatever strategy they are comfortable with

[Dr.Bitcoin_Strange]

I would appreciate if we can also share how we were able to build our bitcoin portfolio to encourage low income earners

Be intentional with your investment decision and put procrastination aside,  that's how you can be able to be committed, sometimes there are some unnecessary expenses that would arise from time to time but because you have already fixed your mindset to how much you want to be investing into Bitcoin every month-end when you receive your salary, that will help you to make sure you invest on Bitcoin first before attending to other needs that are of less importance.  Some people look at their income to be too small meanwhile if they truly mean to invest, even if it's $10 they can be able to invest each month, that's far better than investing nothing at all but because the person is looking at their income less, they might not invest. So, I'd say, don't undermine your low income else you might not invest.

[Karl_3000]

This is a very good topic, low income earners that still have discretionary income can use their discretionary income to be buying bitcoin, using NCA or any strategy of his choice. The person will not regret it if he is buying bitcoin at the right time like this time that bitcoin is 50% below its all time high. The money will accumulate over time and become big amount of money as bitcoin also increases in value. I totally agree.

[Qhunman]

In my opinion,the DCA strategy is more suitable for low income earners as they can invest in bitcoin with as low as $10 regardless of the market conditions. Of course A low income earners can't lump sum because of the size of their income as they will have to save some huge amounts of money which will be difficult for them. So for low income earners,the dca will be more convenient for them as long as they can be able to figure their discretionary income. It doesn't matter if they are investing consistently but what matters is having discretionary income available because without it,they can't invest.

As for me, i invest with the dca strategy using my discretionary income and hold. The week that I don't have discretionary income to invest I will have to wait until when next  I have discretionary income available to invest.

[Cleanshit]

The amount one will start with shouldn’t be main focus but consistency real ly matters. A lot of our low income earners use to delay their investment because Dey do belive that, they need to get a huge sum of money first before Dey can invest. Having this mindset have kill a lot of people who want to invest they keep waiting forever. If one can keep up with saving up consistently and your budget will allow you, this an habit of Bitcoin accumulation. Once income start to grow, you can increase the amount you invest. But one has to develop discipline from the beginning for a better long run

[Promocodeudo]

If you are new to bitcoin or with a low income, slow and steady is one of the best ways to invest in Bitcoin.
One of the biggest misconceptions about Bitcoin investing is that you need to own a whole coin before your investment matters.

Consistently buying small amounts with money you can afford to set aside is more sustainable than trying to time the market or chasing quick profits.

Op you talk many things wey enter my head here, I no go lie you hit am well, but the way the DCA awareness they go eh, many people don the understand say Bitcoin investment no be by gragra or by buying at once, pwoydon come dey understand the whole matter how e be dey them fit buy gradually with their discreationary income to avoid pressuring themselves into buying with the amount wey fit force them out anytime soon.
Although wetin you suppose don know be say, those wey come to make quick profit bmna traders, they get their target which sometimes ends with regrets, those wey be real investors wey no come for quick gains, no the wan rush things, they understands say na small small them dey take kill monkey and no so e be.

[Agbamoni]

The misconceptions na say people they misinterpret many things wrongly. To get small Bitcoin for a wallet doesn't make sense at all. Though you no need to get up to 1 Bitcoin before e go mean anything, but the Bitcoin person need to get gat amount to something meaningful so that when the price of Bitcoin start to go up e go come be better profit. No create the impression for newbies to believe say if them put like $100 to $200, e go mean anything after 10 years of holding it. If e day possible to get that 1 Bitcoin, my broda do anything to get am, then leave am for at least 7 years from now and see weting the thing go done amount to.

[MainIbem]

If you are new to bitcoin or with a low income, slow and steady is one of the best ways to invest in Bitcoin.
One of the biggest misconceptions about Bitcoin investing is that you need to own a whole coin before your investment matters.

Consistently buying small amounts with money you can afford to set aside is more sustainable than trying to time the market or chasing quick profits.

Op you talk many things wey enter my head here, I no go lie you hit am well, but the way the DCA awareness they go eh, many people don the understand say Bitcoin investment no be by gragra or by buying at once, pwoydon come dey understand the whole matter how e be dey them fit buy gradually with their discreationary income to avoid pressuring themselves into buying with the amount wey fit force them out anytime soon.
Although wetin you suppose don know be say, those wey come to make quick profit bmna traders, they get their target which sometimes ends with regrets, those wey be real investors wey no come for quick gains, no the wan rush things, they understands say na small small them dey take kill monkey and no so e be.

Na true say na trades dey mostly go into Bitcoin for quick profits but no be every body wey do like that be traders some of them na ignorant people or the ones wey get misinformation about the investment. One thing I love about the investment na say, if you no do am well, volatility go humble you. So those people with the intentions of investing but come later land themselves for trading go later realise say Bitcoin dey more rewarding when dem hold am longer instead of to collect profits whenever eh rise.

[Judith87403]

You don talk am finish. I know say wetin work for Peter no be wetin fit work for Paul. If na only me, I go say DCA na the best strategy to use gather bitcoins. No matter how small your earnings be you fit comot small thing from inside to take buy some sats. This strategy dey better than to dey buy lump sum way fit choke you later.

I know that DCA also allows low income earners to be able to invest with little amount but if you see that your income cannot take care of your needs talkmore of having a discretionary income to invest with, it will better to increase one's income before investing or else you might find yourself in a situation where you will have to sell your bitcoin to attend to an urgent need especially when you don't have an emergency fund and of course, a low income earner cannot have an emergency fund. However, before a low income earner can invest, he should be able to figure out if he can manage his regular expenses and still DCA without facing problems.

[PremiumcryptoHub]

Even low-income individuals can invest in BTC because many experts advise that if we have a minimum of $5 Naira deposited through discretionary income, that is enough to build an investment portfolio because the DCA method is best for those who want to invest in Bitcoin in stages, and through this method, many can purchase fractional amounts of Bitcoin slowly and steadily.

You have to choose with experience based on your income, there is no pressure on how much BTC you can deposit, many people know about Bitcoin but do not understand the process of buying it, even if they buy fractional amounts of Bitcoin, investors need to maintain consistency.

[Stable090]

If you are new to bitcoin or with a low income, slow and steady is one of the best ways to invest in Bitcoin.
One of the biggest misconceptions about Bitcoin investing is that you need to own a whole coin before your investment matters.

As bitcoin price don go up, plenty people Dey reason say dem no fit buy bitcoin again, dem Dey reason say dem no get money to buy 1 bitcoin,  but Dey don’t know that things don’t work like that. If u wan invest for bitcoin u fit invest small amount of money, no be till u put big money, and e no Dey necessary say u buy 1 bitcoin. Make u just Dey buy am small small with any money wey u know say u no go use for now.

Plenty people don Dey discouraged just because of bitcoin price, make we no say even if na small money u fit Dey use am buy am, u self don turn bitcoin holder be that, and if price go up, u go see am sell and u go make ur money.