Bitcoin Investment Still Depends Majorly on Your Income Level

[Joeboy]

Wagwan fam

Bitcoin as we all know is a decentralized financial system and of course is open to everyone. But then when it comes to the investment aspect, bitcoin is not advisable for those still struggling with their cash flow, this is because investing in Bitcoin comfortably and pressure-free,  depends a lot on your income level, and then we all know that longevity in bitcoin comes from your discretionary income and that your discretionary income mostly flow out from your actual salary, money earned or your business profit.
‎
‎Now imagine someone who is earning a monthly salary of #77,000 and as such seriously finds it difficult to feed his family, pay the school fees of his children...It will be very unrealistic to tell that person to invest in Bitcoin, cause at that point his survival and that of his family is of utmost importance. And then if he hasn't settled his basic needs, how then will he be able to keep aside that extra money (discretionaryy income) for investment?
‎
‎So while Bitcoin is open for all, it is also not a do or die affair and as such it's better to first work on your income level if you plan on comfortably holding Bitcoin for the long-term.....
‎

[Tungbulu]

To invest in bitcoin person need income Yes.

Investing in Bitcoin depends on your income level, na that one I no gree.

Regardless of your income level, as long as you fit discover and identify your discretionary income from that income, then you fit invest for bitcoin.
People wey get higher income only get higher chances of accumulating more bitcoin but that no mean say person wey get lower income still no fit meet up with him own accumulation or no fit reach him investment goals, the difference na just the pace and na only time e go take.

Every investor get their own financial situations, e fit even shock you say na person wey get lower income go get bigger discretionary income pass person wey get higher income, the secret lies for their financial situations, and their expenses, no be necessarily the size of their income.

[Ever-young]

Every investor get their own financial situations, e fit even shock you say na person wey get lower income go get bigger discretionary income pass person wey get higher income, the secret lies for their financial situations, and their expenses, no be necessarily the size of their income.

Na true talk you talk Tungbulu, no be really about the size of person income, na more of the mindset and the knowledge. Some people get intention to invest for bitcoin, but the reason them never invest na because them dey feel say their income dey very low and possibly them fit dey compare themselves with another person wey dey earn a much higher income pass them, and them go be like, them wan dey earn reach those people first before them start to invest, them forget say as person income dey increase, na so their expenses dey also increase too, so your income fit increase but your discretionary income still dey as e dey (another reason/excuse to no start your investment)

[Bright0515]

Wagwan fam

Bitcoin as we all know is a decentralized financial system and of course is open to everyone. But then when it comes to the investment aspect, bitcoin is not advisable for those still struggling with their cash flow, this is because investing in Bitcoin comfortably and pressure-free,  depends a lot on your income level, and then we all know that longevity in bitcoin comes from your discretionary income and that your discretionary income mostly flow out from your actual salary, money earned or your business profit.
‎
‎Now imagine someone who is earning a monthly salary of #77,000 and as such seriously finds it difficult to feed his family, pay the school fees of his children...It will be very unrealistic to tell that person to invest in Bitcoin, cause at that point his survival and that of his family is of utmost importance. And then if he hasn't settled his basic needs, how then will he be able to keep aside that extra money (discretionaryy income) for investment?
‎
‎So while Bitcoin is open for all, it is also not a do or die affair and as such it's better to first work on your income level if you plan on comfortably holding Bitcoin for the long-term.....
‎

Like it's obvious that everybody is entitled to purchase Bitcoin. Even the rich and the poor can own Bitcoin but the rich have more advantage than the poor because they are rich and they have a large sum of income that they can afford to use for purchasing Bitcoin.
If you are not married and you are earning NGN 77k per month you can be using NGN 27k to purchase Bitcoin and manage 40 for the month. You can also keep NGN 10k for emergency if you want, so that you will not sell your Bitcoin in time of emergency.
Bitcoin investment is not a do or die affair, if you have the money to invest you can invest but if you don't have you just need to do the ones you can.

[Tungbulu]

Na true talk you talk Tungbulu, no be really about the size of person income, na more of the mindset and the knowledge. Some people get intention to invest for bitcoin, but the reason them never invest na because them dey feel say their income dey very low and possibly them fit dey compare themselves with another person wey dey earn a much higher income pass them, and them go be like, them wan dey earn reach those people first before them start to invest, them forget say as person income dey increase, na so their expenses dey also increase too, so your income fit increase but your discretionary income still dey as e dey (another reason/excuse to no start your investment)

Gbam!
As far as Bitcoin accumulation is concerned, na discretionary be the Koko. I like wetin you talk for the last part of your comment about people increasing their income level but their discretionary income still dey the same level. In as much as e good to get better income(s) make we pay more attention to the discretionary income. Investing in Bitcoin depend majorly on your discretionary income and not your Income.

[Mhizlove]

Bitcoin investment relies on your income level because if what you earn is little, it is hard to put aside money for bitcoin without it affecting your daily needs. But those with greater income can invest more freely. They can afford to put in more and even take risks because at the end of the day your income plays a crucial role in how much risks are being taken.

Bitcoin in as much it's open to everyone, the income level determines who is involved in it fully. I will also say that bitcoin investment is not all about how much you earn. As even with the small amount you earn, you can use it to invest. What matters is you have to be disciplined, be consistent and use smart methods that will help you grow something worthwhile step by step. To be so clear it really don't require you to earn bigger income before investing. What really matters the most is how committed and patient you are when learning more about it.

[JoyceBTC]

I will advice anyone that is planning on investing in Bitcoin that doesn’t really earn high income, to first take out your emergency funds and backup funds, then invest with the spare money left with you that isn’t really of any use at the main time.

Emergency funds and backup funds are really necessary, because you cannot just invest with the little you think you have and at the end you can not hold for long term because you have arising needs and emergencies you need to attend to, then you end up hodling only for short term without making good profits and end up regretting.

If your income is not enough to take out this funds I just mentioned, then it’s better to wait until it’s suitable enough for you to invest and then you can even start investing in bits using the DCA method.

[Stable090]

‎Now imagine someone who is earning a monthly salary of #77,000 and as such seriously finds it difficult to feed his family, pay the school fees of his children...It will be very unrealistic to tell that person to invest in Bitcoin, cause at that point his survival and that of his family is of utmost importance. And then if he hasn't settled his basic needs, how then will he be able to keep aside that extra money (discretionaryy income) for investment?

If u know say money wey u Dey earn never do you to feed ur family, then e better make u just leave investment first, how u go Dey hungry, and u go come talk say u wan Dey invest, e no really Dey okay now, u and ur family suppose Dey okay first, then investment fit sey in.

If you notice say money wey u Dey earn no plenty, make sure say u get another source of income, just to increase Wetin u Dey earn, then u go fit leave some money for bitcoin. For dis our country na Wetin I know wey Dey stop most youth from investing in bitcoin be that, some of them are always interested in bitcoin investment, but dem no get d morning, Wetin dem Dey earn never do them to eat and take care of the basic things wey dem need, how dem go take invest in bitcoin.

[Mr Reporter]

Bitcoin investment relies on your income level because if what you earn is little, it is hard to put aside money for bitcoin without it affecting your daily needs. But those with greater income can invest more freely. They can afford to put in more and even take risks because at the end of the day your income plays a crucial role in how much risks are being taken.

Bitcoin in as much it's open to everyone, the income level determines who is involved in it fully. I will also say that bitcoin investment is not all about how much you earn. As even with the small amount you earn, you can use it to invest. What matters is you have to be disciplined, be consistent and use smart methods that will help you grow something worthwhile step by step. To be so clear it really don't require you to earn bigger income before investing. What really matters the most is how committed and patient you are when learning more about it.

@Mhizlove makes a great point about Bitcoin investment being influenced by income level.
Those with higher incomes may have more flexibility to invest in Bitcoin, taking on more risk in pursuit of potential gains. In contrast, individuals with limited income might struggle to allocate funds for investment without impacting their daily needs.

However, @Mhizlove the part you also emphasizes that successful Bitcoin investment isn't solely dependent on income level. Being disciplined, consistent, and patient can help individuals with smaller incomes grow their investments over time.

Ultimately, a combination of financial discipline, education, and strategic investment approaches can help individuals from diverse income levels navigate the world of Bitcoin investment.

[Jubilee58]

Wagwan fam

Bitcoin as we all know is a decentralized financial system and of course is open to everyone. But then when it comes to the investment aspect, bitcoin is not advisable for those still struggling with their cash flow, this is because investing in Bitcoin comfortably and pressure-free,  depends a lot on your income level, and then we all know that longevity in bitcoin comes from your discretionary income and that your discretionary income mostly flow out from your actual salary, money earned or your business profit.
‎
‎Now imagine someone who is earning a monthly salary of #77,000 and as such seriously finds it difficult to feed his family, pay the school fees of his children...It will be very unrealistic to tell that person to invest in Bitcoin, cause at that point his survival and that of his family is of utmost importance. And then if he hasn't settled his basic needs, how then will he be able to keep aside that extra money (discretionaryy income) for investment?
‎
‎So while Bitcoin is open for all, it is also not a do or die affair and as such it's better to first work on your income level if you plan on comfortably holding Bitcoin for the long-term.....
‎

Bitcoin investment is for every body, both big and small, young and old any body can invest in bitcoin and make profit, the only need is to map out some of your income and dive into the investment and it is going to be profitable.

Some years ago when the price of bitcoin was still very small and then , bitcoin in those days make even little in investors millionaires.

[Curious T]

Every investment depends on your income. Your income serves as your capital in Bitcoin. The difference with Bitcoin and other investments is that with Bitcoin, you can invest with a relatively smaller amount of money, unlike other investments that require a lot of money.

Every investor get their own financial situations, e fit even shock you say na person wey get lower income go get bigger discretionary income pass person wey get higher income, the secret lies for their financial situations, and their expenses, no be necessarily the size of their income.

Na true talk you talk Tungbulu, no be really about the size of person income, na more of the mindset and the knowledge.

The way una dey talk, I dey wonder if na the same Nigeria all of us dey live. Which one be "na mindset".
person wey get family for Nigeria and dey earn N100k go find am hard to invest in bitcoin, talk more of person wey dey earn less. If the person doesn't get responsibility, na different thing, but with huge responsibility, it's almost impossible to invest.

[Hewlet]

‎
‎So while Bitcoin is open for all, it is also not a do or die affair and as such it's better to first work on your income level if you plan on comfortably holding Bitcoin for the long-term.....
‎

you only consider investing when from the income you are earning, you can comfortably take out at least 10% of it and still not struggle to take care of your families needs. if you are still struggling to meet your needs, then you can not obviously consider investing in bitcoin because when it becomes necessary, you will have no option than sending your bitcoin to solve your needs.

Build your income first then investing becomes really easy to walk around. it is that simple. the reason why so many people are opting for trading over investing is because they do not have a reliable income that can help them invest for the long term and so, they just try to trade with the hope that their trade will give them quick profit that can be used to solve their short term needs. with how hard things are in our country here, if you are not earning that range of 200k upwards and you have a family you are taking care of, it is going to be very difficult for to invest at the same time while meeting your needs.