how to invest and hold your bitcoin in hard times

[Boy-o-boy]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

[Sammysmart001]

First thing first is for you to remove the pressure or impression of trying to invest a fixed amount each month, because your income is stretched by your current situation. It will be much more better to reduce the amount, than for you to sacrifice your important needs because you want to invest in Bitcoin.
For just a start, most especially if you don’t have stable funds coming in, your DCA shouldn’t be most a specific amount each month, all you just need is to be consistent with your pay after attending to your basic needs the little you have you can start with that.

Wanting to hold Bitcoin, does not mean that you put in your savings or your emergency funds into it. Your basic needs have to be cared for first. The important things is to plan your Bitcoin plan strategy and also your basic need, But consistency is very important.

[Bitcoin-Forever]

Let me bring a kind of suggestion to you, bitcoin is the best option to take in times like this for your investment if you want to be profitable and also minimize the chances of going harder in risk taking, you can decided to use DCA strategy for this and continue to buy upon every market dip, the hold and later release when the market is high, this will make you more profitable than taking risk on other assets you may not be sure of what they could deliver to you as profit.

[AVE5]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

What's the challenge at your end that's disturbing your investment consistency?
Naturally, this kind of traffic is usually caused by economy revolutions where cost of living increases over inflations. Another is when you've got more financial responsibilities without an increase of your incomes.
Some investor's could even loose their job's and then affecting their bitcoin goals whereas, they'll have no choice than selling their bitcoin to attend to immediate need's.
In other figures, when your discretionary incomes on buying more bitcoin had seem difficult due to certain financial effects, you can just consider to hold the one's you've in your portfolio. That could serve as your retirement investment or a hope in your financial obligations in the closed term. Meaning you must not have to continue accumulating bur holding the ones you already accumulated.

[Grace333]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

I don't think the use of the word low income earner as a criteria for investment in Bitcoin is a nice idea,. I prefer to use the phrase "having discretionary income" because it give more details to wether or not the person is financially capable of investing in bitcoin.
Most loq income earners have discretionary income, for instance, a student who makes money off some online side hustle might be a low income earners but since his responsibilities are mostly taken care of by his parents he will have discretionary income to invest. In contrary view, an adult can have a good pay but due to responsibilities, he may not be able to have a discretionary income for investment.

[Big Dirams]

Let me bring a kind of suggestion to you, bitcoin is the best option to take in times like this for your investment if you want to be profitable and also minimize the chances of going harder in risk taking, you can decided to use DCA strategy for this and continue to buy upon every market dip, the hold and later release when the market is high, this will make you more profitable than taking risk on other assets you may not be sure of what they could deliver to you as profit.

Bitcoin is good suggestion to invest in when it comes to digital investment but when suggesting it for someone we should consider letting them know bitcoin investment has it own risk too just like other investment so they can consider if going for it still or not because some people thought investing in a bitcoin is just a safe heaven but it isn’t there are risk in it too.

And with DCA the investor will have a calm investment without pressure because they would always see dips as a good opportunity to buy and hold more and not something to be scared of but something to be taken advantage of and buy at low.

[Rockson1]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

Does it mean that you have not been buying with your discreationary income or don't you have a target for you Bitcoin investment, what do you even want exactly?
Are you having double mind now as a hodler or someone that has hodl previously, who sold as a result of inpatience or any other reason, you said you hav hodl some coin years back, I presume it's not Bitcoin perhaps you hodl some altcoin or am wrong with my guessing.
For someone earning 100k Nigeria naira, you can acumulation Bitcoin monthly, with your discreationary income but you must first attend to your essential or personal needs.

[EjiukaSpecial]

You need to understand that Bitcoin investment is not a get-rich-quick kind of investment. For you to truly profit from, you should have a long-term investment mindset and that's why you're not advised to invest with money that you can afford to part way with for a given period of time. Stop putting pressure on yourself to invest a particular amount every month.  If your income has become tighter then your Bitcoin plan should also adjust with it.

Prioritise your important expenses first like food, accommodation and medical bills then whatever that's left, you can invest in Bitcoin regardless of the amount. You don't need to buy large amounts before you can invest.

Make sure you don't put yourself in a situation where you'll have to sell your Bitcoin earlier than the target time sort out bills you. It's even better to miss buying Bitcoin during your tough financial period than struggling with your basic needs just because you want to keep your DCA running.

At the end of the day, put more effort in increasing your earnings so you'll have the financial strength to invest like you always wanted to.

[Cgrexp]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

I don't think the use of the word low income earner as a criteria for investment in Bitcoin is a nice idea,. I prefer to use the phrase "having discretionary income" because it give more details to wether or not the person is financially capable of investing in bitcoin.
Most loq income earners have discretionary income, for instance, a student who makes money off some online side hustle might be a low income earners but since his responsibilities are mostly taken care of by his parents he will have discretionary income to invest. In contrary view, an adult can have a good pay but due to responsibilities, he may not be able to have a discretionary income for investment.

Having a low income does not determine the ability to invest. Rather, it is how much money is actually left in one's hand after meeting the necessary expenses that is important. Instead of saying low income, having discretionary income should be given more importance. There is an important difference between income and discretionary income. Income is how much money a person earns, but discretionary income gives us an idea of ​​how much money he has in his hand after meeting the necessary and mandatory expenses. Which he can use for savings, investments or other purposes as he chooses. Therefore, the second concept becomes much more realistic in terms of investment. Bitcoin is a very volatile asset, so the investment money should be such that if lost or held for a long time, the person's daily life and basic financial responsibilities will not be affected. Emergency money, money for immediate essential expenses or money needed to repay loans should not be put at risk just because of the investment opportunity. Ultimately it is more reasonable to judge the investment capacity not by the amount of income, but by the balance between income and responsibilities. Even a person with a low income has some discretionary income and is able to invest a small amount, understanding the risk. On the other hand  if a person with a high income has more responsibilities and expenses than his income, he may need to strengthen his financial position before investing. Therefore  investment decisions should be based not on the level of income of the person but on his actual financial capacity and responsibilities.

[Mummy OS]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

The country inflation dey really affect us and I hope this hardship for our country go end soon because e no easy for person wey get family with small salary wey no fit sustain bachelor not even family with children. Country had and to even get better job no kon easy again.

Na through connection many people dey get jobs for this country and na only God go help us especially people wey dey work as government workers wey dey dey pay them small salaries and even government fit do reach point wey dey go owe them big salaries. Investing for this Bitcoin crypto market for person wey him salary no reach anything no just easy at all.

[Jubilee58]

Despite the economic situation of the country, I still believe someone can invest, and hold Bitcoin. Honestly, it is very wrong to eat all your money without saving anything from it, it is a wrong habit.
No matter how tight you might be, planning your future is very important for financial growth, but when you eat everything, and giving economy as an excuse, you will find financial stability difficult in the future, and will be your own mistake or error.
While some person's are taking Nigeria economy as a reason not to invest, there are also investing in Bitcoin without looking the nature of the economy, they actually understand the importance of Bitcoin investment, and don't want to make the mistake of facing financial crises I'm the future, and therefore give priority to their Bitcoin investing without minding Nigeria is facing economic crises.

[Sunshine1525]

First of all, Bitcoin investment is for both low income and high earners anyone can invest in Bitcoin so far the person can sort out the discretionary funds and manage his or her finances well. 100k might be too small based on the economic situation and if your expenses are much but if you can cut down some unnecessary expenses like the ones you used in entertainment or fun you can raise as litte as possible and consistently put into your portfolio.

Since you're a low income earner starting gradually is not a bad idea, you can be investing 5% of your income for a start then with time you can increase it when you have more source of income, it’s not easy but if you're determined to do it, you can.

[Donneski]

If what you earn monthly has reduced while your expenses have remained the same or probably increased, you should consider reducing the amount you invest in Bitcoin.

Trying to continue accumulating the same amount Bitcoin in monthly basis will be a huge financial risk. A good approach to follow up is to calculate the amount at your disposal after your basic expenses (discretionary income) and then investing part of it. And in the months you didn't get much discretionary income, you can skip investing. Bitcoin is best accumulated via sustainable accumulation not accumulation at all cost.

Like I've read in few posts under this, you should pay more attention in increasing your monthly earnings so you can confidently continue your DCA while still sorting your essential needs.

[Cryptomultiplier]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

If your income is above 100k, it means you earn better than most Nigerians and earn above the current minimum wage no matter how much inflation is a major concern.
It's also okay to know that DCA strategy of investment where you buy Sats of Bitcoin isn't a must do investment when times are rough and things a bit difficult for you.

You could hold off a bit and get yourself together before you continue investing and that's better. So just be patient and time yourself instead of trying to time the market that looks favorable to invest from.
Be smart and do your research while you ensure you don't lose the little you have kept aside already.

[Creeper0]

How much money you earn in Bitcoin investment is not important, but how much money you can include in the discretionary fund after all expenses is the main thing. If you can create a discretionary fund by being frugal, then do it and try to invest in the DCA strategy.

If it is not possible to provide a discretionary fund even if you are frugal, then do not fight your ability. Try to increase your income and fight to increase your ability. Because if you do not have the ability to invest, there is no need to force investment, it is more likely to backfire. So my best advice for you would be to take the necessary steps (frugal or increase income sources) to create a discretionary fund and wait until the ability is created, during this time you can prepare yourself by gaining knowledge related to Bitcoin investment so that you can start investing as soon as the ability is created.

[IceLincoln]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

OP see that your investment as a lifetime savings no need to Dey reason am as something wey u fit use now. So long as say that your salary still dey come, you go fit survive. If at all say you dey live faji life or e get something else wey no be basic needs wey dey take your money you gats cut am short.
Make money wey u dey invest in bitcoin jus be money wey no go weigh you in the long run and as you dey invest try to get some savings for bank for emergencies.

 

What do you mean as virtual betting? Is it the one for those unreal sport that takes just some seconds to bet on another one? It is very risky and fast which makes it more risky.

I do not have fun with it while playing it in the past and I stopped playing it. I prefer normal matches which I enjoy betting on.

But gambling is still gambling, the chance of losing money is high regardless of the games or matches.

This comment is off topic and should be removed immediately. It’s like you were replying to another comment from another thread as there’s nothing relating to gambling in this discussion.

[fredericktaylor]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

In order to buy Bitcoin and hold it for a long time or to manage the investment continuously for a long time, it is very important for an investor to first gain knowledge about Bitcoin. In addition, it is very important to manage the investment with discipline and hold it for a long time, because Bitcoin is very volatile and the price fluctuates rapidly, so it is important to have a long-term plan to succeed in investing or to make money. As a result, an investor will be able to use every opportunity of Bitcoin correctly with confidence and will be able to hold it patiently for a long time. In order to hold a long-term investment or to manage it continuously, it is very important to have an emergency fund along with the investment. As a result, the investor will be able to manage the investment with discipline in any situation and helps to hold Bitcoin for a long time.

[ejikeme24]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

If you have been accumulating bitcoin before then you still have to keep accumulating,  I would like to know what you mean when you said things is not working well for you in what aspect exactly, did you loss your Job or they reduce your monthly income? Well if you think that you don't have the strength to invest in bitcoin due to your financial situation at the moment then you have every right to put your Bitcoin accumulation journey on hold until when you finally make up your mind to invest or even you figure out discretionary funds. But if your income can add up to create discretionary funds for you then I will advice you continue with your Bitcoin investment journey no matter how small it is.

[Churchillvv]

So for you to cope with continuing you need just 1000 naira per day to keep afloat, if you can find 1k daily to eat you can find 1k to buy bitcoin and hold. I understand that the economy is nothing to write about but we don’t go to sleep hungry and I believe anyone that can put food on a table for a day and survive daily can invest daily but the cumulative purchase is what makes them not to find it affordable. However, in my opinion we should see the least naira as affordable with an accumulation of 1k daily you can buy 30 worth of bitcoin at the end of the month.
Not directly from your salary of 100k but from your daily expenses. With that you can definitely afford it in the bad economy.

[Hyphen(-)]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

I truly understand your condition, and it’s normal, it happens to almost everybody especially this period that things are hard due to inflation, your salary of 100k can’t afford all your needs except if you have another means of income to support it, so if that is the case, leaving investment for now will be better for you. You can’t be holding Bitcoin and be hungry at the same time, you need to take care of yourself first before investment, if you latter have another means to invest, then you can go ahead, buying when you know you will definitely sell immediately to live is not advisable at all.

Nevertheless, you can keep holding the coins you already bull bought in the past, keep maintaining your income for now, try as much as possible not to touch the investment you have so that when you have the opportunity, you can continue from where you stop.