Topic: Gradually Saving to buy bitcoin (Read 547 times)

I am just calculating how saving 10 naira per day makes 3,066,000? I have calculated several times where saving 10 naira per day does not make 3.066 million naira per year. If you calculate weeks, there are 52 weeks in a year or 4 weeks in a month and 12 months in a year, then
10x 7=70x 52=3640 naira

If you calculate days, there are 365 days in a year, then -
10x 365=3650 naira

However, it is impossible to get rich from Bitcoin in 1 year and you do not have to invest or buy in large quantities to do so. If you have the money and the ability to invest, you can invest in DCA. Weekly or monthly DCA can be a good choice. However, you will be wrong if you dream of becoming a millionaire from Bitcoin in 1 year if you are not already a millionaire. Because Bitcoin is not a get rich quick scheme.

It sounds good while talking but the fact is that with the kind of economic situation that we have found our self in Nigeria it will difficult for someone to plan and begins to save towards investing because it's one someone who has eaten well that can think of investment because currently our economy is so bad that people has been reduced to the point of just surviving and not investing

Because it will be difficult one to follow this your plan and save money on a daily basis to save up and invest either on a quarterly or yearly basis because with the current inflation and hikes in the prices of goods in the country people are no longer thinking of investment but I must confess that your savings plan is a right move in the right direction for those who have the financial leverage to go into investments

chief you are on the right track, but  you no need to save for a whole year to start exploring Bitcoin investment opportunity.  Last year starting around may I decided to invest 6k naira for BTC every week before December, the thing shock me , pull run came, my people. Small small money wey I dey use eat, come put joy for my body. I nearly go home go slap my village juju. So just start my bro.

saving to buy Bitcoin is one of the best periods where you do not even need to have enough money to buy but you can buy gradually and also adopt the process of you DCA strategy by buying gradually more you can accomplish more because you are devoted and you keep buying especially when the market dips it makes everything easier, and the fact that bitcoin price is not stable is already a way to watch and buy when it is red and hold and there are certain thing that people need to know is not just about buying but also knowing the right steps to take you have to control your mind and the same time excessive patience till the price starts going up.

And I would not even advise anyone to save fiat it is better to just invest directly when the money is available you don't need to go through the stress of saving fiat just invest whenever there is money at hand, and the case of buying frequently everyone can decide on how they want to be buying is it weekly or monthly whenever they get paid, this is like another strategy that can be developed, and the starting is not an issue consistency when you start buying how you consistently keep buying will be the one to determine how serious the person is ready to make money from holding bitcoin after buying.

Thanks for this great observation made I have been trying to evaluate how he arrive here with this calculation I couldn't factor out anything, it's not all thing one correlate with Bitcoin investment or buying because it will contradict you and make you got confused reason because how can you be waiting and be accumulating money before buying Bitcoin when DCA is there to achieve that dream while not plot out your plan and know what to start with using DCA. In order hand the calculation deviated from normal way if achieving the so called arithmetic.

Investing in Bitcoin is an opportunity everyone should grab, but that does not mean that we should be saving $10 on a daily basis and expect to be able to buy ourselves Bitcoin that we can consider as an investment because that money the Op is referring to can't even afford to pay for the fee at the end of the day. 
 
Saving to invest is good, but it should be with a reasonable amount and not an amount the person will not be proud of at the end of the day. It should be based on what the person is earning, a reasonable amount that won't affect their expenses, which could be set aside for saving, which could be gathered together later to invest in bitcoin.

Honestly I don't why some people think of saving up fiat before buying Bitcoin which is very wrong considering the fact that Bitcoin price is not stable hence the to maximize buying Bitcoin with as little amount of money readily available, saving up in Fiat before purchasing Bitcoin is a total waste of time and can possibly lead to missing good opportunity of buying Bitcoin, I will say that some people think less of their available amount and decide to wait and save up not knowing they can be accumulating gradually and what is mostly important is buying frequently irrespective of the small amount of money.

This is why we shouldn't believe everything we come across on social media because how does all this equation and mathematical calculation become a reality. I don't know if some people are really so dumb to understand a simple mathematical calculation. OP, i know that you brought up this topic as to counter what you saw on social media but the way you presented it almost looks like you believed what you heard on that video but since you said you don't believe it's true, that's what it is because the whole calculation is false and misleading. However, saving little amounts consistently to stack up a huge some of money is not also easy because there will be times when you may have an urgent need of money and you can just access your savings. Even in bitcoin investment, regardless that the DCA strategy is advised for those who wants to grow their investment gradually but it doesn't mean we should relatively invest a low amount of money in our DCA because in the course of buying bitcoins, a fee is being paid each time of your DCA which mean that for someone who is investing a very little amount of money each time in their DCA, they will lose a lot of money as transaction fees.

Seasonal greetings to you, it will be a very good decision to be saving money to buy a Bitcoin just to buy Bitcoin for yourself and your decision or aim should not be only saving money to buy Bitcoin, it is also good to do long term investment at of the Bitcoin you have gotten or bought, because Bitcoin investment is one of the best investment one should not missed as far as cryptocurrency is concerned.

That fee them no fit avoid am finish unless say them wan buy the bitcoin from person way them know way be say the person go sacrifice to pay for the fee their own self if not, each time way you buy bitcoin you go pay fee just say the rate and the price way the person go pay go differs base on the time way them buy and how much fee they as of that time, nah why some people they prefer to use centralized exchange to they buy small small even as them know say risk they to hold for their, nah when dem don buy enough Nia them go reason to withdraw am down to their personal wallet that time now nah only one time fee dem go pay unless say dem move am to another wallet after their.

OP this your calculations don to much abeg I no fit understand anything wey you dey calculate dere, to be honest with you investing in Bitcoin know need to much calculation weting really dey important na to plan your self very well and set up something wey go dey give you money small so that e go help you hold your Bitcoin for a long period of time. However, I go advice make you settle down no go put pressure for your body and also remember to invest weting you go fit afford to lose because Bitcoin is not a get rich quick scheme.

Hehehe 🤣🤣
Okay, seems you don't get the whole lyric of what i was saying in this topic here.
I am trying to argue what i saw on video i watched on facebook, since i can't get the video again i decided to write down what said teacher solve on the video. What i did is to bring it here for you people to justify what he did if is correct or not. This math doesn't entire originate from me and I can't be dumb to put that silly thing down here as solution to invest in bitcoin. I think people aren't comprehending the whole thing instead they are giving me wrong feedback.

This is one possible reason why some people can never become millionaires. They are just so bad at math! 

OP, did you, by any chance, happen to skip a day or two... or perhaps the entire school year?

There is a mathematical flaw in that calculation and I don’t know how you just seem to pass that. Aren’t you taking notes that, it’s not possible, even with your calculations?

10 in a day can never make you a millionaire in 365days.
8,400 x 365 actually means, you are having to save 8,400 daily. That’s you having to save that amount in every single day of the 30days a month you already calculated. You’ll just having to repeat your calculations over and over and that shouldn’t be. That’s a mathematical error, integration. Your having to input values already considered severally.

Also, you don’t need to save in naira to invest later in Bitcoin. Bitcoin price isn’t waiting on you and nothing stops you from buying in bits.

You are right. is all about how to make things possible for yourself, and anybody's opinion isn’t really compulsory as long as the Op thinks this is the best method he can be able to save up money to invest in bitcoin. I think his idea is welcome, and he can put it in other to start up something for himself, although some people think this is not the best way to save up money to invest, but to me the op just listed out how he can be able to save up for himself and not everyone. I think both for the people that already invested and people who are still yet to start already have a plan on how to do that, and they must not be the same. 

The value of money is relative and depends on what you want to achieve with it. Despite the current economic challenges and the devaluation of the naira, it's essential to remember that every amount counts. Having one million or two million naira might seem insignificant to some, but to others, it's a substantial amount that can be used to start a business, invest in opportunities like Bitcoin, or achieve other financial goals.
.Attach value to your money and it will mean something for you. By adopting a saving mindset and making the most of your money, you can overcome economic challenges. Start first and Try it out

You know most times we dey think say we smart over somethings but it doesn't work that way because, even if we saved out 2 millions, you would see that amount can't even get us reasonable thing in returns because today price of things changes on the constant basis and people keeps complaining about the economy overtimes. Like said, buying bitcoin and stacking them gradually would be of a great value than just saving Naira which would easily melted in just one night without shifting, But in bitcoin the value remains only the price action and reaction could be changing.

E dey good make we save for tomorrow but saving ten ten naira everyday for 356 days no go give you better money. If we wan calculate am, N10 x 365 days, that's N3,650 for the whole year. E no go fit even cover a pot of soup. Also, based on how the value of naira dey constantly decline against the dollars and how the price of commodities for market dey increase everyday, even if you save up to 1 million naira for a year, you no go fit do better thing with am. So e dey good to save in foreign currencies like dollars, pounds, euro or just buy Bitcoin and hodl.

My brother na better point you get because when you start big ma so you go wan invest the money but when you start small the thing they fair and when you lose money you no go to send like because of the amount but some people no they wan hear them go wan do waiting them like which is them go wan put better money but as a newbie it is not important why not make they understand how the thing they work before them go choose exactly waiting them wan do when the thing comes to money matter, na why any body wey wan start make them always they find advice even on the coin to buy and bitcoin they okay but sometimes they fit comsider other altcoin to ma small small person they start because if you look all those coins all of them get investors and people they get money from there so no be crime to try does other coins out. And the issue of something doing is very important so that if one no work the other one go work, the truth be say no be everyone na him crypto go work for so make we they dedicated and te thing for work well. No be something person go start come they expect better money from the thing.

Believe in all those Facebooks videos that are talking about the Bitcoins investment can lead a person to lose all his assets when ever he comes to invest in Bitcoin, but seeks for a better future knowledge that will help you guide all the assets that you have invested is the best than follow people’s on facebooks; I know people also achieve something from there but not all the time.

However, if you really want to becomes successful person who starts the gradually saving to buy Bitcoins at least you’ve to get enough knowledge, so that you won’t face any challenges in your investments; and that’s most of the people paying attention’s on doing there research about the Bitcoin investments.

As in ehn, I just dey confused with Op calculations, I first enter my calcutor do am myself, I see say waiting i see dey different from waiting him dey explain for here. Omo see the kind of mathematics wey Op dey do as if days we have in a year don pass 365 days again, somebody fit become a millionaire by saving 10 to 20 naira a day, as if those money still get value for this country, and if Op dey think say e fit save naira to get 7 figures at the end of the year, he must not save less than 3k per day.

However, Op it is not a idea to bring useful information we read somewhere but make we try to dey confirm about it whether the information dey legit or not because him don dey encourage some people that if they can save 10 to 20 naira daily, dem fit become a millionaire at the end of the year to use the money accumulate Bitcoin. And I am sure say some newbies fit reason am say na correct information and begin to dey save 10 to 20 naira.

OP, you d make me laugh. You think sae you can narrow down wetin your watch for Facebook to link it up with Bitcoin investments as to ways to become rich in a year, having investing 10 naira to realize 280 naira every month.

Before we go begin to move into your calculations being right or wrong, have you learned about the basic knowledge of crypto? Its volatility, the bearish and bull run season. Time suited to make the right investment and anticipate for huge gains.

Let's leave that apart, and analyze the investment pattern wey you learn from Facebook into today's crypto market. Assuming peso successfully invested 280 naira for six months at a price above $100k. Wetin you think sae em gain go be, before the bull run is above? Remember sae, after the bull run, na bearish market next. You no think sae, na loss investment peso go later have in a year time, if they begin to d invest in Bitcoin with 280 naira monthly for a year. Bitcoin won't remain above $100k by 2026, make you remember that.

You are correct, if you are new to investing in crypto, the best thing to do is to start with a small amount and see how it goes, before you start with a large amount. Even if you want to invest a large amount of funds, the best coin to invest in is bitcoin, which is the coin that will just minimize your risk, as opposed to other coins that will have a huge risk that can cause you to lose all of your funds. Savings to invest in bitcoin is a very good idea, but it is more advisable to have something doing that will be supporting your investment, because when you invest and you didn't have another source of income he will definitely affect your investment because anytime you have problem you mind will surely go to your investment and you will touch it because you don't have any other choice to then you touch your investment, since you don't have any other sources then your investment. No when you are saving for investing online bitcoin make sure you get another sources that will help out in time of your need.

I dey shock seeing some replies above you but none of them notice the error in calculations. I have seen so many posts and videos of that nature online but I see it as an attempt to farm engagement. This simple arithmetic is not suppose to be even hard for a primary one pupil to figure out the mistakes but unfortunately Op was so excited to share without verifying. Everyone would have become a millionaire by now if this calculation is realistic. It is very okay to seek for others opinion when necessary but not in a case like this very one. Assuming Op learned the habit of comprehension, he wouldn't have bring this up for discussion here.

Paying attention and personal research is very vital in the quest for learning but Op did not employed any before making this post. Let assume the calculation is even correct and and we have to wait for complete a year before we make our purchase  does that ring well? I don't think so. It is good to start with as small amount as possible using DCA method than to wait all long to make one time buy. Above all, I would advise Op to verify posts he finds out there before bringing it here to avoid see finish. The reply above mine suggest we arrest his maths teacher for doing a very bad job and I won't agree less. 

Op e be like we go arrest the person wey teach you mathematics for school for doing a very bad job Your mathematics no dey add up at all, so better go look am again make you no further fall hands the more. One other thing wey I notice be say, e be like you dey see this Bitcoin investment as play play thing na why you chose N10 wey no fit buy anything for our country instead of the least money wey fit buy something now wey be N100. If you no fit save N100 per day, you no get any business talking about buying Bitcoin because wetin you need na job no be to answer investor because no be empty hands them dey take invest.

Saving to buy Bitcoin isn't a bad idea but I think it's too stressful to do that. Personally, I think it's better to have a source of income before investing in Bitcoin. This investment is long-term. Bitcoin is a way to achieve financial freedom but it can't be gotten in a day. People who get successful with Bitcoin are those that have been hodling for a long time. Hodling comes with a lot of patience and perseverance, if you don't have any source of income you would find it hard to invest in this on a long-term scale. Saving to buy Bitcoin is exhausting to me, if you don't have the capability to buy it then just wait till you can make this investment comfortably.

Na for here you go take know say OP dey confused even from the topic em create. Mindless copy and paste na bad thing too. I feel say OP no even calculate that thing by himself properly before em carry come here. Another gentle reminder to always proofread anything you dey send for this forum because if you fail to scrutinize it properly before sending it here, na better criticism you go chop.

Nobody fit argue say naira dey useless to take save money, people wey them dey pay for naira dey big trouble since inflation dey affect them wella, so no single motivation dey to save money for naira. Myself as soon as my fiat pass some reasonable level, I dey convert am to save for dollars or buy bitcoin make em dey safe and useful by the time I go need am.

To be honest, Bitcoin will always be volatile and its price will fluctuate. Therefore, you should always plan for the long term, and run DCA consistently. I think that only in the case of DCA can you take advantage of market fluctuations well, if you invest regularly on a weekly or monthly basis.
So don't wait to start investing, buy Bitcoin regularly, in general, if you continue to invest through DCA, your portfolio will continue to grow with the average price of Bitcoin. Which at one stage will give you better results.
However, considering the current situation of Bitcoin, the current state of Bitcoin and the possible future of Bitcoin, this is an ideal time to start investing, because Bitcoin is now around $95k, it will start pumping at any time. So don't miss the current opportunity.

Buddy you nailed it, it is unfortunate that I see some persons refer 1 year as a good one for an investment that's for a long-term that's laughable, talking about the thread in which @JayJaunGee is a pioneer, I think it too bad for someone to keep mentioning an individual that has taken it upon himself to continue advising intending and existing investor on how to go about their Bitcoin investment in other to scale through to the future without facing any panic or pressure, many of us has learnt a lot from those discussion and it has been very interactive and helpful to us in one way or the other, personally I have been very conversant with DCA method because of that thread and I think it will be appreciated if we should concentrate on the matter at hand here instead of deviating to something else.

I wouldn't want say much about the current subject being discussed here but what advise in general is that once one is ready mentally and financially then the acumulation process should take place, though one must not be very rich before they can invest, what every investor need is an income that can allow him or her to accumulate freely with DCA method weekly, weekly and still have amount left to do other things, your pocket is your strength and as a wise investor, you're not advised to empty your pucket  in the investment alone so that you won't be pressured along the line to take premature decisions that's capable of running your investment.

Instead of confusing himself and ignorant people with calculation i think he should seize this opportunity that the market has given to start his portfolio or add more to it instead of waiting for a full year to save and buy later, Bitcoin has drop after reaching an ATH of $108k but that's not a big deal cause volatility is bound to happen and we'll always witness a correction before the price skyrockets again so it's best to seize this opportunity and accumulate now the market is down and make more profit during an upsurge cause there's a good possibility of witnessing another ATH before the year ends. Left for me I'll prefer the OP buys weekly or monthly instead of waiting that long to buy Bitcoin cause in the process of waiting, sevaral corrections might occur and he'll miss out on opportunities.

Oga this your calculations no Dey correct, you Dey even see wetin you Dey calculate? You just wan use equation confuse us for this space.
10x365 wetin E go give you nah 3,650, so if you save 10 naira every day for one year, wetin you Dey get 3,650 naira for that one year.
To arise at that 3,066,000 naira wetin you Dey save everyday nah 8400 naira everyday, you just wan use calculation confuse us here come Dey tell us say 10 naira wey no worth anything for this country na E wan come give you that kyn money for one year, Abi no be the same 10 naira we Dey use?

I feel like this is an exhausting approach to investing in Bitcoin, if you don't have a stable income then I don't think you should stress yourself. You can only save to invest in Bitcoin if you have streams of income otherwise you are going to struggle with this especially if you end up losing money in the market. But this is why Bitcoin investment is done on a long-term, as an holder if you don't have enough patience to wait for you to achieve something from your investment you might quickly sell and you might end up slightly gaining or losing, investing long term is the only way to benefit from it.

My dearest OP, am sorry to be so frank, but saving 10 or 20 Naira per day for a whole year, won't make anyone a millionaire.

Please pay close attention as we do the maths together:
If you save,
10 Naira/day × 365 days/year = 3,650 Naira/year and
20 Naira/day × 365 days/year = 7,300 Naira/year.

In order to get a significant amount that can be up to a million in a year, one should be able to save up to 2,740 ~ 3,000 Naira/day to reach this goal, because if we should divide 1,000,000 Naira/year by 365 days we have in a year, we would have 2,740 Naira/day.

The best bet is to use a DCA strategy on a notable exchange, so as to avoid dipping hands into the pocket where this amount of 2,740naira is kept.

The calculation Dey very wrong OP definitely didn’t know what he wrote there or maybe it was a sarcasm like wey we Dey see for social media, ypu gass they save like N8k plus before you fit see N3m for one year, so na off calculations.

I totally agree with you on the choice of currency to invest in, fiat been use as investment na the worst strategy to do talk more of it been naira. Person wey hold one million naira starting of last year (2023) when dollar Dey N800 per one wey go be like $1,250 then the same one million naira go be just $625 now base on the current exchange rate of N1,600.

If that $1,250 enter bitcoin that time when bitcoin it self bin Dey less than $20k one go get like 0.06 bitcoin now with bitcoin in six figures already that’s $6k plus on it’s own and approximately 10 million naira. So bitcoin even though it’s volatile but when held for a long period of time will definitely yield profit than any currency

Too much plenty talk no they full basket. All this things wey u mention no matter at all if you no get better source of income to use invest. Bitcoin no be something wey u go plan say u wan save first to invest later. Instead of saving that money e better say u use that money they invest in Bitcoin so that purchasing power no go catch you and at the same time, the price of Bitcoin no go they the same level they wait for you to come invest inside after several month of savings. Two things they involved either the price of the Bitcoin will go down or e go increase more and more. E go bad say e increase because u go regret why u no put even that small peanut wey u they save inside Bitcoin directly.

Ah no wan talk to much because plenty people done talk most of the things. My own be say use your tongue count ur teeth. If you get the money to invest then no delay use dca invest but if the money no they my brother leave am.

You dey correct for wetin you talk and like this me no fit tell person to go hold Naira or save Naira onto which levels na?
NGN na the worst thing person fit hold except for daily expenses, e no make sense to keep at because on the regular basis e dey depreciate well well, so e no good to hold at all.

Then back to wetin you see for the op, na just video wey me watch I just explained wetin me see inside make we for shuck mouth with the calculation wey that person explain for the video wey me watch if e no correct or not. If you read my last side comment for op you go see say i talk say i doubt the whole calculation.
Here

Comparing your calculations with them, it appears that there is something wrong with the above calculation.
If you save 10 Naira every day, then:
The total savings in 365 days will be:
10 Naira × 365 days = 3,650 Naira.

However, your calculation shows that if you save 10 Naira every day, the total savings at the end of one year is 3,066,000 Naira (3 million), which is incorrect. This is not possible if you save 10 Naira every day.

I think the 3,066,000 Naira shown in the video you watched could be based on some other advice or method, such as expecting returns from Bitcoin or any other investment.

Here, the main question is, how can you become a millionaire with this amount of savings. The video may present a simple calculation that if you save for the long term and follow a long-term investment plan (such as Bitcoin or any other investment) then you can potentially make big money.
However, when investing in Bitcoin or any other cryptocurrency, you need to remember that it is very risky and the price is often volatile. This means that if you invest for the long term and the price of Bitcoin goes up, you can make a profit. But since its price can also go down, there is a possibility of profit as well as a possibility of loss.

The main objective is to grow your money through this type of saving and investing. However, this is a long-term plan and you will not become a millionaire immediately by saving alone, especially if your investment strategy or market conditions are not right.

OP this your maths sef no correct,how you use jump from say 280 na total realization for. Month to multiplying the same 280 by the number of day's in a month again rather you for multiply the 280 by 12 to get the correct maths forge year and believe me e no go come out much and d truth be say you no need all his kain thing to fit run Bitcoin.

I no dey say you no supposed calculate oh but no be all diswan wey be say you wan dey calculate everyday and. Month, Bitcoin no dey behave like normal money, e fit high e fit low, so some months no fit equal with the oda ones a d too at end of d year you fit get plenty money, you also fit get small more but you go dey very sure say your funds dey safe inside Bitcoin a d if you fit wait reach d next year, you fit still get your money back and even more sef, but e no dey like dat with normal money.

To begin with, I wan start say the worst way to save money na in Naira because even though you save 1# everyday for one year, you no go still fit get $1 so since you already have a way of investing or saving in dollars through investing in Bitcoin, na wetin all of us supposed to dey do. I dey always talk say, if e get how you go fit put most of your money in Bitcoin or saved in dollars, na the best thing you fit do for yourself and anytime wey you need money you fit dey withdraw weekly expenses to your bank account.

For this your calculation, e no dey add up at all. Why you no just go straight and multiply your savings with 365 days wey we get instead of getting a daily savings and using that for multiply weekly and then monthly again and confusing yourself in the whole calculation. Again instead of saving Naira, save in Bitcoin and you'll keep getting profits instead of losing value by hodling the Naira.

This method cannot even make you a millionaire because with the cost of things somebody who has only 3,066,000 is still considered as a poor individual, though is encouraging to see how a little change we see that doesn't mean anything will turn out to be this huge after a year, so actually if you can conviction yourself to adapt to this saving you will definitely have a lot of money after ten or twenty years because if N10 will give you such amounts within a year that means that twenty years you will be talking about having up to N61,320,000 but is actually a long time to think about and perhaps you can even develop other alternative before then.

If no be say nah you the talk I been no wan reply the op again sef, because it be like him no wan learn from those way done stay for the forum before him rather nah arguement him the argue about an approach that is obviously of no use of applying it to bitcoin investment. Even as I tell am about DCA investment strategy I no sure say him done go do him own research about am to know how important the approach be for those way want to the invest gradually, else him for no the argue blindly.

I understand wetin OP dey try talk, according to em post if person fit save certain amount of money for a full year, then fit gather am buy in bulk at the end of the year then continue the next year, eh dey  indirectly explain the DCA method but rather on a yearly interval instead of weekly or monthly. However them suppose query the OP maths teacher or ask OP why eh no take maths seriously cause I understand the mathematics, eh dey confusing and wrong and if person no observe am well eh go think say the OP dey right but that maths no correct.10×365days=3650, If you wan even do am by weeks, according to our calender, there are 52weeks and sometimes I day in a year calender so let's say 10× 7days= 70, 70× 52.1weeks it's 3647 which is approximately 3650 therefore I no understand how OP get 7 figures except em they think of saving 10k daily. So OP abeg try make sure say your informations dey correct before you post am make you no go mislead people.

Op Dey try figure out him own approach as to fit gather the coin but I think follow for people wey social media don Dey influence their lives and tend to easily believe everything person show them for internet.
I love the word Herculean approach because the calculations were all wrong and gather 10 in a year no fit give you million in any way expect you wan thief join am because for person wey Dey safe 10 daily for 365 day, na lass than 4k the person suppose Dey expect at the end of the year.

Some persons fit Dey try dodge from the transaction fee of buying bitcoin Everytime and na the only time wey deciding to buy at a given time Dey allowed, the DCA method permits you to buy bitcoin at any given time of the market regardless of the current market price.

Op need to understand that we don't need to save huge amount of money before trying to invest into bitcoin and also as a newbie in a bitcoin investment is not good to start with the lump sum strategy because I think that is the exact point the op is trying to point out by saving huge amount of money first meanwhile with the DCA strategy of accumulating Bitcoin you can start buying small small either weekly or monthly as long as you have made provision for your discretionary income because you might be trying to save to invest into Bitcoin while other unforseen circumstances may come to take the money away or through saving procastination may come in and you might end up not starting bitcoin investment so I think the best thing is to get started with amount you can start with but it shouldn't be money you will be needing in few months time and it should also be the the amount of money you can afford to loss.

It's fine if you don't like the discussions going on in that thread, but it's not cool calling out JayJuanGee at every opportunity you get in any matters regarding to Bitcoin investment that doesn't suit well to you, I'll remind you that everyone has their own view of different subject and you should respect that. Those learning and interacting with him aren't just getting better at Bitcoin accumulation, but personal economics of proper fund management.

In response to OP, I don't know where you got your statistics from, but it's wrong in many ramifications. Firstly, your calculation gives off a wrong result and secondly, you don't have to wait for a whole year or gather millions to invest in Bitcoin. You can start small as soon as you've discretionary income available and increase your accumulation amounts over time.  This would help smoothen the effect of volatility on your investments and help you achieve your accumulation target faster.

Investment is investment be it small amount short term or long term they are all investment what matters is how dedicated the investor should be or how knowledgeable he is on what they are investing. But yet that is not the sole purpose for this topic because as i put up this for us to understand how person who solved this maths on his video did arrived at 30,066,000 per year and I can see some people making correction to why he put such maths on the video and they seems to have gotten it right. Because I also tried to draw my conclusion that the math on the video was wrong and yes people already prove it wrongly.
Thanks to those who are following up the topic correctly.

From J.J and it disciples, one year investment is a trading but not investment so if you become a millionaire in one year through bitcoin investment they will tell you that you are trading and not investment. Since when they say that over there, I see them as sing praisers and not real investors. Because real investors that those who really understand bitcoin investment will not say 1 years is trading and not investment. That is foe that, saving to invest bitcoin is not advisable because you might touch the funds for another thing so why can't you invest with the small amount you have. It is will be helpful in the future investment.

I was literally waiting for the first reply that will inform the OP of the wrong calculation being done. The OP literally said that he has doubt in the calculation, and doesn't believe, when the calculation is 100% wrong, so why even have any form of doubt in the first place. I think 20*365 should be around N7000+. Not even sure if that's a proper saving.

Aside the interesting calculation, we should be honest when it comes to Bitcoin investment. In as much as we always encourage anyone to invest what they have, that shouldn't take the place of consistent investment either. Just imagine buying Bitcoin once in a year with an amount that doesn't even hold a good fraction, and you expect your portfolio to do great in times like this, then you might just have to wait for a longer time than we imagine. Some users have suggested the DCA approach. That's the consistency I'm talking about. It has to be continuous(with good amount though).

So, in as much as no amount is a waste, or no amount is nothing, why does it have to be N10?.

I hope you know some basic arithmetics?
This you analysis is a joking analysis that has been on social media for a while which I never expected to be here because of the nature of this forum, so I will believe you don’t know that it is a joke then I will let you know that it is a joke and this is a public forum where serious topics are been discussed.

To save money for Bitcoin investment will be a good idea, but saving the money for a year is not advisable since we have DCA method that allow you to buy as tiny Bigboin as possible to keep accumulating anytime you have small amount of money.

Oga it's only those who don't know mathematics calculations can be tricked by your calculations let resolve the Mathematics and see how you arrive at 3,066,000
From my calculation
#10 daily multiply by 7 =#70
#70 a week multiply by 4 weeks which is 1 month = #280 or approximately #300 + or -
#280 or #300 monthly multiply by 1year which is 12month will be either #280 x 12 = #3360 or 300 x 12  or  #3600. Or better still #10 daily multiply by 365 days = #3650 so how do you get your figure?

Yes you are correct and the math is not true, is totally wrong, please do not follow up that misleading calculation.
What i just understand from here is that you were trying to see how what the person explained on the video is right or wrong, but I must say is totally wrong because from the calculation he multiplied 4 weeks and also multiplies 30 days, that is to say 30 days is the same as 4 weeks and no need for repetition. Is either he choose 30 days or 4 weeks to continue his maths, so if i can recall or to sum up everything of the whole math, in year we have 365 days and if he multiples 10 x 365 = we are having 3,650 Naira. So, how did he arrived at 3,066,000?
What i think that video explained is to catch up people's attention to make his video go viral that is why he put up this math.

For everyone commenting, op is trying to explained the video he watched and since he didn't have the video link again he puts everything in written form to make sure he explained everything in the video. He is not directly saying that everything in that video explained is right, so op wants us to also look what the video explain if that is right or not. I think we should learned to comprehend post before commenting.

I know it is not right for a newbie to invest in bitcoin aggressively, but any newbie who has a good discretionary income and knows how to figure out investing in bitcoin aggressively without getting off the game partially or permanently should go ahead and do it because it will help that newbie to increase his bitcoin amount in the short term. Even though old investors invest in bitcoin in such a way that it will stop them from solving their daily expenses, they will likely sell their bitcoin when their daily needs arise. Both old and new investors should invest in bitcoin according to their discretionary incomes so that they will find it hard in solving their daily expenses.

Don't waste time gathering or following this long process before buying bitcoin, purchasing or investing in bitcoin ain't that complex , instead of gathering fiat just try investing in bitcoin using DCAing (buying bitcoin with a fixed amount of money ) either weekly or monthly you can even start with $5 seff , is not compulsory that you much start large , you can start according to your financial state first .

And as time goes you will see that you're building something beautiful,  and the thing is that doesn't mean that same amount of money you keep using you might even decide to increase it as time goes.

What are you even getting at mate you calculation is not adding up at all. Pls go and check again. First you said 10 Naira everyday to get to a million in a year which is impossible but some how you deviated and what you latter arrived at doing was 8400 everyday to arrive at a million plus. Honestly you calculation and the point you are trying to make with 10 Naira wasn't adding up at all

Never put pressure on your self this investment thing isn't meant to be a do or die affair. Invest in Bitcoin as your capital can carry you.

In fact, it is better for beginners to stay away from aggressive Bitcoin investments. Because beginners may not be used to seeing short-term fluctuations in Bitcoin, they will take them in a more effective mind, and they will think that "Bitcoin may just keep falling now, and it will never increase again". And in this way they will panic and sell their holdings, resulting in losses. Therefore, they should invest in Bitcoin through DCA. The DCA strategy is ideal for beginners, if they keep their investments in a long-term perspective, then these market fluctuations will not have any effect on their holdings, but rather it will strengthen their portfolio over time.

Therefore, beginners should decide to buy a certain amount of DCA regularly according to the new economic situation and income. And of course, they should use the amount of money that will not have any effect on their daily expenses. You should never buy Bitcoin with more money than you can afford, because Bitcoin will never guarantee you a guaranteed profit.

So keep buying Bitcoin through DCA with the amount of money you can afford, and build a strong foundation for the future. In this way, an investor can very profitable from Bitcoin in the future.

Irrespective of the observations on your post, I see no  wrong in your strategy to save if that is what suits your saving strategy best. The saving strategy you adopted might work very well for you and might not seem to be feasible with another. So every one has his or her own methods or measures of saving their funds as long as the goal is to accumulate more bitcoin, it is a welcome idea to save with the formular that best suits you so I would just advise you stick to what suits you best to grow your savings as the case may be.

Op, it is never advisable for newbies to start bitcoin investment with a lump sum strategy because if bitcoin dips, the newbies might be afraid of the volatile part of bitcoin and sell their bitcoin so that they will not lose all their money in bitcoin investment. It is better for newbies to start accumulating bitcoin with the DCA strategy either on a weekly or monthly basis so that even though bitcoin prices drop, they will not be moved by the volatile part because they know that the DCA strategy has them covered, and it will still allow them to buy bitcoin in a dip. And as time goes on, if the newbies got a better job during their accumulation journey, which gives them a good discretionary income, they can always make room to buy bitcoin with a lump sum strategy in such a way it will not stop them from solving their daily expenses, which will help to increase their bitcoin.

well, even though him make the calculation too long, wetin you just talk like this almost de like the summary of all the point when him de try to make. to buy bitcoin in sats na the same thing as buying it fraction by fraction when be the same thing OP de try to use him calculation de explain.

wetin him de try to explain na the DCA method of accumulating bitcoin only say him give am an amount and try to point out how much you go don save if you de set out a particular amount per day. realistically, e no de easy or somehow possible say even if you wan de buy bitcoin using the DCA method say you fit de buy am on a daily bases and remain consistent at it till the end of the year. the highest you go fit do na to buy am once a week or once a month and based on say bitcoin na a volatile asset, the amount you take buy a particular amount of bitcoin by January no go be the same amount of money you go use buy am for February.

everybody no go fit use one method by him bitcoin, if na through savings you fit use buy your bitcoin and the thing de work for you, then nothing de wrong to follow am up that way.

Kelward and Lida93 I don't really think you both read op correctly if you do you guys would definitely flow with what i wrote here. I can see you both aren't following up the whole drama.
Please calm down to understand what the post is saying before giving your final judgment as I see that you people aren't follow up the whole thing here.

On reading the post me sef just tire with op herculean approach to use invest in bitcoin. All those processes wey op highlighted no one really dey necessary to use invest successfully in terms of investing huge at once sef.

Maybe op never know about the Dollar Cost Average strategy towards bitcoin investment. If him don get good knowledge about am nah there him go use the build him portfolio that even before the year go run down to end him go done build significant amount in BTC than that him façade approach with naira.

With all due respect to you I no think say all dis equation wey you solve de necessary for Bitcoin investment, e no de necessary say you go save up money to buy Bitcoin. If you no get money to buy 1 BTC you fit to start to buy in sats as your power reach and continue to de accumulate on di long term. Di best way to grow your bag on di long run for Bitcoin investment na to do DCA method, you go decide di amount from your income wey go take de buy Bitcoin periodically, either weekly or monthly, no need to save up di money first before you go buy Bitcoin. If your income increase you go increase di amount wey you de take do your DCA, if e decrease you fit to reduce di money to buy am.

Remember say Bitcoin investment na secondary need e be, you suppose to take care of your basic responsibilities like food, rent, transportation and utility bills, including small emergency funds before you go start Bitcoin investment. Odawise e de very possible say you fit to sale your Bitcoin prematurely to take solve problems so person suppose to calculate himself very well before im go enter Bitcoin investment matter.

For Bitcoin to make you millionaire depends on di amount wey you put inside, also e depend weda na bull or bear season because na volatile asset. I de advice investors to focus profit on di long run instead of short time like one year time because price fit to dip. But if you focus on di long term investment go de sure say plenty ROI go enter for dem.

Okay, few days ago I came across a video on Facebook and it says how to save and becoming millionaire in just one year.
Now I want to see how this method can be explored to Bitcoin as well. Now, this is what he says;
If you save 10 Naira or 20 Naira for one year you will become a millionaire and I asked how?

But let see how we can arrived at becoming a millionaire in one, although I am still having the doubts as well.
Putting 10-20 Naira into savings for 7 days;
Meaning 10 x 7 = 70 Naira a week.
How many weeks are there in one month is 4.
That is to say; 70 x 4 = 280
Then how many days are there in a months?
Let say 30 days..
280 x 30 = 8,400.
Putting this into one year ( 365)
Therefore:- 8,400 x 365 = 3,066,000  in a savings of 10 per day.  So, to invest into bitcoin you can decide to invest yearly or quarterly after having to save your money into Naira then buy at once.

For those who says 10 Naira is nothing, I believe almost everyone is a millionaire but how we seems to utilize our money matters a lot. But guess what? I don't seems to still be believe that this is true.

Your input is needed here.