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Quote from: Justbillywitt on May 15, 2024, 07:07:02 AM

Most people in Africa are struggling to own bitcoin, taking risks just to own bitcoin, because if you check the living conditions of masses, you will see the main reason why there is many adoption of bitcoin especially by their young citizens is because bitcoin is hope. Bitcoin has become the shinning light they can look up to for a brighter future and better everything around them, and improve their living conditions. People living below $50 monthly salary are still buying bitcoin and hodling for dear life.

Isn't it better for people like that who have a salary below $50 to collect money first before buying BTC. Or at least it is better to invest in trading with a short term. And if there is more profit from trading can be saved to meet the target, if you feel the target has been reached you will be ready to start long-term investment by buying BTC with the DCA method. Because if you push too hard it will be very risky, better slowly but surely,

Having such low income could become a big hindrance to buying bitcoin especially for older persons with more expenses and even trying to reduce expense to invest might not even be a good idea cause you also need to consider having an emergency fund and the income would not be able to cater for both,
Trading is still not the best option considering the time it would take to learn and master the skill, the best option for such persons would be to find extra sources of Income to be able to buy bitcoin and have more discretionary income to spare to buying bitcoin, why i recommend this is cause its the safest option that doesn't involve having to risk the income you have.

While Im not trying to say that a person earning 50$ weekly cannot invest in bitcoin, the point is that you can't invest in bitcoin or its not advisable to invest in bitcoin if your income is not enough to cater for your expense and emergency funds or savings, the best option would be to increase your income.

Yeah it maybe a big hindrance to someone who earns low but still its good that nothing. They could able to start with small amount they have on hand and its up for them on how they can maximize their bitcoin investment. For sure there would be a lot of ways for low income earning people to get extra funds so they can possibly maximize their bitcoin investment. I know its quiet hard to budget our funds if we have small amount but if a person is dedicated to his visions and have a big dream to get a better life in future for sure he will work to have extra funds to use it for their investments. I don't know what that person think about you quoted above to invest for trading in a while since he just putting you on more more riskier situation. Short term trading will never give any guarantee to earn some extra profit. So what's best for that if you have funds better save it for a while and if you think its enough and you are confident to buy bitcoin for your investment then do it since there's no better option for this since I think this is more better option rather than trying our luck on something that bring us a huge risk.

You can start to invest with bitcoin at any amount you want although it maybe not enough to spend only small amount but if you are consistent with your accumulation for sure those amount you investment will became a huge figure. So its important to have consistency since this could bring good future to anyone.

Yeah you'd right that it's better than nothing but in some cases it's far better to have a good income that is able to cater for your expenses and leave you some discretionary income behind to invest, for someone that is earning or living in a condition that what he has is not even enough to cover up his expenses, he would rather be gambling than investing cause if any emergency were to arise he would have no second thought of selling his bitcoin and with such financial situation he would most likely buy ideas that would give him profits quick than having to wait cause he is already in a state of financial emergency.

I still stand that its far better for such to person to stabilise himself financial before thinking of investing in bitcoin.