It all depends on what kind of business it is - because if it is an ordinary store that will sell household goods and things that people buy every day, then the investment will pay off relatively quickly. It is important to analyze the market and offer what people need + that there is not too much competition that will slow down our progress.

On the other hand, if the OP invests that $600+ in cryptocurrency trading, there is a great chance that he will lose it - and if he just buys, for example, BTC and decides to keep it for a year, two or more, in the best case, he can earn x2 or x3, which is not much profit if it is about years of waiting.

Very nice dilemm, I would say 1 million naira probably dollar 1200 could worked mate, however it is your approach what decide will you be succeed or not. for skilled trader it is not impossible to generate profit even from smaller cash. If you come to bitcoin trading then you should be aware about risk management, proper reacherch, stop loses also position sizing. If you f you are not skilled trader i always suggest be a strong Hodler it is safe bet, invest and think it is retirement money so that you could hold on through sharp declines. if you ask me I always go for long-term BTC investing cause I don't have time for gaining trading experience also my capital is limited. After that I will save some funds to start a small side gig.

The amount you invest or trade won’t determine a positive outcome. Like in trading, it’s certainly a skill and strategy based, so if you have not developed them or even no experience at all, rest assured, you will only fail from trading.

However, if you invest with a huge capital, but you don’t have the knowledge on the market and the patience to wait for the right timing to invest, in short you don’t know your investment well, you will definitely fail your investment as well.

Know your investment first and as much as possible, develop some skills and strategies on it, that way you will gain success and end up profitable.

1 million naira isnt much capital.  If you have a solid business idea or an existing one, put that money into your physical business. BTC trading isnt likely to give you big returns with that amount right now.

All risks go hand in hand with profits because after all in this case it all comes down to choice because I think for now it's not really about what amount you will start with as initial capital but your seriousness about what you will do whether it's trading or investing.

Because if only the benchmark for profit alone then our expectations will be too far away by assuming that the initial capital we have will multiply in a very fast time but in fact this is clearly wrong so that thinking like this must be minimized a little or a simpler term is that you should as much as possible put aside your high expectations when in this scope.
We must be aware that both trading and investing have their own risks and instead of prioritizing thoughts about instant profits, I think it would be better if someone, especially a new person, understands more about how they know the risks that exist and are ready for it and of course this must also be supported by learning.
Being in investment or in trading is not as simple as saving money and then getting profit afterwards and when there are still people who have this mindset then they will not be able to get out of the naivety that will forever be like that.

Or put a chunk in BTC, and the rest - in something that would bring possible results here and now.

Honestly, investing 1 million naira in BTC trading can be promising if you have a solid strategy and patience. BTC is volatile, but it’s shown good returns over time. If you’re new or lack resources, it might be safer to start small or consider diversifying between physical business and crypto. Just make sure to manage risks well and avoid rushing decisions.

Well, you don't have all the resources necessary to trade, according to your words, but you need to be clearer about what you mean by that, because you need to take into consideration some very important things, such as:

Do you have an idea of how to trade and how much money you would approximately earn with your capital?

If you have no idea, then you need to start doing research first. According to my research, 1 million naira = $655. This capital, given the current Bitcoin price, is very low if you're day trading. However, if you trade with a 4-hour chart and target a profit of 5% to 10%, it could be a good option. However, it could take days, weeks, or months for the Bitcoin price to rise 5% or 10% after you buy. So, with your capital, your profit would be $30 to $60. However, if you hodl for months, you could also make a good profit if the price reaches $200,000, but that could take many months or never happen.

My suggestion would be to do business in the real world, grow your business with profits, and then take the profits and buy Bitcoin to hold for many years. At least this way you could have a fixed source of income in the real world and investment in the online world.

If you mean business like taking it as a source of profits in order to survive, then you are making a terrible mistake. Even with your skill, trading 1 Million is risky. The 1 Million Naira mentioned by OP is only sum of $600, traders are losing millions and thousands of dollars worth more $600.

Trading is a side hustle, don't see it as a business or a job. If OP is not dependent on the profits from his capital, best to invest in Bitcoin.

That's exactly my point, it is easier said than done. Bitcoin has the bight future, no doubt, but the way people are taking it is too exaggerated. As it climbs higher, so will be some kind of higher needed liquidity, and the law of "diminishing returns" will occur, which will further discourage investors. Because at higher prices, they would consider what they could possibly gain by investing in it (little), so efforts to invest more will be discouraged as the price goes higher.

I now see the importance of why fillippone brought out Giovanni Santostasi's Power Law Theory (https://bt.irlbtc.com/view/5491011.msg63880224#msg63880224). It all makes sense to me, as it buttresses what I naturally thought about.