Low Income Earners Can Also Build A Bitcoin Portfolio

[DiMarxist]

The beauty of DCA is that it makes sure that everyone is included, no matter how low that someone's income is DCA can still be done. DCA is done with money that is not needed for expenses or even emergency situation, DCA means that someone setting aside certain amount of money for the purpose of investing in small bits over an extended period that will not affect his expenses for the month.

DCA is ment for low income earners so that they too , can invest and do that comfortably without causing them much pains and stress. Investment is one thing that is painful especially to those who are not financially strong, so bringing out a large amount of money to investing maybe a headache to such people hence the need to do a DCA method.

DCA method gives freedom and ease to anyone who is investing. In investments like Bitcoin where the price of Bitcoin is high the best approach to investing is through DCA method if one is truly committed to acquiring a Bitcoin portfolio.

[Marykeller]

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.

Em d good make we point out sae, the amount peso invest in Bitcoin by weekly on monthly matters a lot because Bitcoin don pass that level sae peso go d invest like 30-50k naira every month, in ten years to come them don the think sae em don be for them be that.

As we all know, nothing is guaranteed. Bitcoin no promise any of us riches, whatever we see as profits in years to come, we take it like that as that's be wetin our weekly or monthly investment gets for us

[Cryptomultiplier]

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.

Em d good make we point out sae, the amount peso invest in Bitcoin by weekly on monthly matters a lot because Bitcoin don pass that level sae peso go d invest like 30-50k naira every month, in ten years to come them don the think sae em don be for them be that.

As we all know, nothing is guaranteed. Bitcoin no promise any of us riches, whatever we see as profits in years to come, we take it like that as that's be wetin our weekly or monthly investment gets for us

The only promise of wealth we fit get from Bitcoin right now, come from the assurance of volatility acting in our favour.
Definitely, that small amount we dey try DCA fit multiply by 3X or even up to 5x of the total amount wey we try hold for as long as we hold am.

Also, when we dey DCA small amount, we suppose leave am up to a decade or close to a decade so that by then e go fit worth something even if e no reach millions at then, but one thing for sure be say, as inflation dey devalue our Naira, Bitcoin dey as hedge against dis inflation and e go still make watin we save worth more than if to say we keep am for bank.

[Jubilee58]

Everyone cannot invest in thesame capacity, so no matter how small your income is, you can still invest invest in bitcoin.
There is one misconception that some people do have making them not to be able to invest in bitcoin, and that is the feeling that they don't have enough money to acquire Bitcoin, and they equally look down on their little beginning thinking they must buy a whole Bitcoin before they can invest in bitcoin.

There many who own a whole bitcoin that didn't buy them at once, they bought in fractions, and finally arrived at owning a whole Bitcoin, and it was achieved through consistency in their investment, and patience. So even as you start little, consistency through DCA will give you a significant result in the long run.

[Byebyebtc]

I will also add that you have to have a good and stable source of income before you invest, so that you can have a significant dictionary income in order to invest, you know your not supposed to use your active money to invest your meant to use the money Left after handling bills, buying food items and stuffs like that,
And if you are a worker that earn about 100k nira a month the investing in Bitcoin is almost impossible for you because before you go pay every thing finish come pay dept join the money go don finish,
So we should also have it in mind to get a good source of income before investment.

[Brizi5000]

Growing up, we had this mindset that bitcoin investment is only for those who have huge amount of money, we also had this mindset that to invest in bitcoin one must buy the whole of 1Btc at least and due to this kind of mindset we often don’t associate ourselves with anything called bitcoin investment, we left it for those who we feel are the wealthy people in the society without knowing that we were wrong. Going forward we come to understand that we can actually get to invest in bitcoin even though we are not wealthy, we also come to realize that we must not buy an entire 1Btc at once. With the introduction of DCA methods in Bitcoin investment, we are able to buy and invest in bitcoin with a discretionary income, it doesn’t matter the amount of discretionary income we have, no matter how small we can always use it to be buying bitcoin and hold. The sweetest part of it is that we don’t force ourself into buying and investing with the DCA method as it allows us to buy either weekly or monthly basis or sometimes when we have this discretionary income available. What matters most is having the long term plan to regularly buy bitcoin when we are able to figure out a discretionary income to gradually build our portfolio.

[Different patterns]

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

Exactly. I also believe say everybody has different methods of accumulating their bitcoin and how they take they manage the risk attached to it. So it a normal thing for people to prefer different accumulation methods. But what really dey more important be say, you as an investor is better you choose a method you can stick with, consistently for a long time. And for the people who delay their buying, in the name of waiting for dips. Those people end up doing nothing because every price that comes up to them, they won’t still satisfy, at the end they buy nothing. The best approach is to invest your discretionary income whenever the funds available to use then waiting for dips that may not come.

[Odogwu-Blockchain]

Exactly. I also believe say everybody has different methods of accumulating their bitcoin and how they take they manage the risk attached to it. So it a normal thing for people to prefer different accumulation methods. But what really dey more important be say, you as an investor is better you choose a method you can stick with, consistently for a long time. And for the people who delay their buying, in the name of waiting for dips. Those people end up doing nothing because every price that comes up to them, they won’t still satisfy, at the end they buy nothing. The best approach is to invest your discretionary income whenever the funds available to use then waiting for dips that may not come.

Not everyone will be able to DCA into Bitcoin investment, it may or may not work for everyone, what I preach all the time is that, know what works for you and stick to it consistently. Some people be doing well with one time purchase of Bitcoin once in a month, but the quantity gotten will be so huge to the extent of beaten those who buys daily with smaller quantity -Not trying to sound oppressive but I'm been realistic.

Although, it's not a competitive race that whoever buys more than other is a winner but overall, stick to the option that works best for you.

[abaeze]

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

You've already covered the key aspects of this topic. I'd just like to add some important points.  invest only what you can comfortably afford and never use your daily living expenses to invest. For people with relatively low incomes, these two principles are among the most important for building a long term Bitcoin investment strategy which many new users do not know. So I think it is more effective to share realistic experiences instead of unrealistic success stories to encourage people with low incomes.

For example: If someone's income is daily, then the person should collect the Naira that is in his pocket for 1 week, excluding all his daily expenses, and use that Naira to regularly purchase SATs in small amounts, this is called the NCA strategy and through this strategy, you can keep yourself calm and steady from panicking in market fluctuations. Also, by reducing unnecessary expenses, plan to invest a part of that savings in Bitcoin, and continue to invest regularly with discipline.

Above all, start investing with a very small amount of spendable income at the beginning and plan for the long term, at least 5-10 years and do not have the mentality of getting rich quickly. And the most important thing is to create an emergency fund before or during the investment and never use the money for loans or daily expenses. And in this way, investing in Bitcoin can be done regularly and disciplinlly, even if the income is small. Which later, during any danger in someone life this money can be meaningful in the long run.

[Princess Leah]

Everyone cannot invest in thesame capacity, so no matter how small your income is, you can still invest invest in bitcoin.
There is one misconception that some people do have making them not to be able to invest in bitcoin, and that is the feeling that they don't have enough money to acquire Bitcoin, and they equally look down on their little beginning thinking they must buy a whole Bitcoin before they can invest in bitcoin.

There many who own a whole bitcoin that didn't buy them at once, they bought in fractions, and finally arrived at owning a whole Bitcoin, and it was achieved through consistency in their investment, and patience. So even as you start little, consistency through DCA will give you a significant result in the long run.

What i love about Bitcoin is that it gives low income earners the opportunity to consistently put the small amount they generate for discretionary funds into it so no one should come up with excuses like Bitcoin is too costly that's why I could buy, that would sound dumb in the future cause we all can invest according to our capacity.

 Whether one buy in fractions or not, the person must still remain patient if he/she wishes to get better reward from Bitcoin in future so the idea of using patience as an excuse like some people do is suprisenly baseless cause patience is one of the major characteristics of a true investor.

[Oyoyoma_yu]

Everything wey yu takl here na true talk, Bitcoin investing no be for only people wey hold plenty money, but na for everybody. As e be now Yu fit even start your investment with just $10 you go fit purchase bitcoin, but for person wey don already make up in own mind sey him won invest for inside bitcoin, you go program how you go de carry de put money for inside bitcoin , if you be person wey de collect money either weekly or every month e dey good make you de comot small small money de invest am for inside bitcoin, you go de do am anytime wey you receive your pay, and if you fit de very steady as you dey put your small small money, your Bitcoin portfolio go de grow too.
I no sey e get people wey won invest for bitcoin, but dem de discouraged because Dem feel set Dem no fit afford one whole bitcoin, no be so your consistency go bring beta profit for you if you invest for long term.

[Rockson1]

Everyone cannot invest in thesame capacity, so no matter how small your income is, you can still invest invest in bitcoin.
There is one misconception that some people do have making them not to be able to invest in bitcoin, and that is the feeling that they don't have enough money to acquire Bitcoin, and they equally look down on their little beginning thinking they must buy a whole Bitcoin before they can invest in bitcoin.

There many who own a whole bitcoin that didn't buy them at once, they bought in fractions, and finally arrived at owning a whole Bitcoin, and it was achieved through consistency in their investment, and patience. So even as you start little, consistency through DCA will give you a significant result in the long run.

I agree with your points, some investors do not know that despite how small their discreationary income is, consistency makes it bulky as time goes by.
As a low income earner, as long as you can figure out your discreationary income after meeting up with your basic needs no matter how small it is,m, you are good to go, different investors think that their income should be stable and very reasonable for them to invest in Bitcoin but that is not true, the DCA method has made things simple for us, we can invest little bucks, though it is small, but what matters more is our consistency, personally, I do not think that there is need for any low income earner to look down on what they can conveniently spare out to invest in Bitcoin steadily.

[Kelward]

Bitcoin na volatile asset sotherefore no be investment wey you de sure say at a certain period you must get sure ROI, dat na why you no supposed to put yourself under pressure to accumulate am by all means, at any point wey you want to buy make sure say na amount wey you fit to lose. Bitcoin investment de suitable for low income earners because you fit to take small amounts like 20,000 naira take de DCA gradually to accumulate until your income go increase and you go get di capacity to increase your accumulation fund.

If you no get discretionary funds from your income make you no bother to enter Bitcoin investment because e de likely say you go sell at a lose to take care of your basic expenses or emergency needs. Bitcoin investment na money matter so make a low income earner focus on hustling more to afford to accumulate without stress, as far as you get discretionary funds and you de buy as e no go choke you no wahala for your side.

[Youngrebel]

Talking about the last point you made, having a separate or emergency funds is important because there is no way you can invest the money meant to cover your bills and expenditures without getting affected, the most important thing as a Bitcoin investor is to have a source of income, this is what actually matters most.

They say Bitcoin investment is for everyone even though that is true not everyone should be investing in Bitcoin whether they use the DCA strategy or not. Like I stated in my first point I made, having a source of income is important and those that find themselves in the category of not having one should not consider going into Bitcoin investment.

For those working but don't earn enough and being affected by the contributing situation of poor economy in the country you can still invest start with what you can comfortably invest, as long as you can remain consistent with it.

[Agbe]

Since you no mention di price wey di low income earner dey receive, I go also use assumption for di comment. Now all weti di person go need na just discipline and dat one too go dey depends on how much im dey receive for the month, if na government work, do minimum wage n 70k now and for dat 70k, first thing him go do be say, him go remove all di expenses money first ND anyone wey go remain nai im go use buy di bitcoin.  It if na self-employed, im go still remove im bill money before using di balance to buy Bitcoin and make im remove money wey him go use buy fish chop for the month. No go invest because people dey hype or whatever. But we sure say low incomers go fit invest in bitcoin.

[Btcdeybodi]

Una just dey sound like say e dey easy for a low income earner to build bitcoin portfolio but the truth be say e no really easy like dat so make we no dey overdo ourselves. Person wey no dey earn enough money, how him wan carry dey DCA with the little earning wey him dey get? Make we no dey sound like people wey no no say bitcoin na investment wey require person to dey very consistent to dey buy every week or every month which mean say person wey dey struggle with small earning no go fit meet up to dey do am because him never even reach to take care of normal things wey him go need everyday, come be say na to dey invest for bitcoin. Unless say the person go dey save small small money for naira den wen him don accumulate big amount him go come use am buy bitcoin but say make him DCA wit that small amount e go fit work.