Holding Bitcoin is just another investment. And to those people that are looking for another investment, it's normal to look for another one because all we want to do is to maximize the use of our money as a tool to generate more money.
While I agree that buying and holding Bitcoin is the best choice. But, there can be other options that the same Bitcoin holders can do as long as they know what they're doing.
The advise is typically good and a warning to those that don't know what they're doing and quickly buying anything that's suggested to them, especially the altcoins that are just randomly suggested.
Topic: Don't look for investment, just hodle! - page 5. (Read 793 times)
Sounds like good advice. But holding bitcoin is not easy. I have been losing money since I bought bitcoin a month ago, I bought it when it was $33,000, then the bitcoin price went down, I bought bitcoin for $29,000, and the price is still going down. I'm confused about what price to buy bitcoin at. Even though I only have a little bitcoin but holding bitcoin is difficult, I hope there's no sudden need so I don't have to sell my bitcoin
Holding Bitcoin is difficult for people who are not patient enough to wait for the price to rise, and just like you, who is hoping that no problems arise soon or else you sell your Bitcoin, some people do invest in Bitcoin in the hopes of making a quick profit, which is incorrect; that is why it is always advisable to invest only what you can afford to lose.Due to the instability in our everyday lives, we are sometimes needed to set aside some money for such unexpected occurrences and avoid selling our Bitcoin when we are not in profit. As a result, we are urged to employ DCA when investing in Bitcoin in order to plan for other expenses within our monthly or annual incomes.
there is no doubt that DCA approach is good but then also if a newbie os not careful you could lose along the line of DCA so DCA is out of this discussion
How do you even lose money "if not careful"? If you literally just buy weekly/monthly what's the room for error here? Not buying even when you're already scheduled to(due to DCA)? If so, then the risks are the same even with lump sum. If the person doesn't follow his/her sound strategy, then mistakes will be made.
The reason why so many newbies have missed their steps in Bitcoin is because they have missed the primary approach to avoid getting into the wrong investment, because we all know the risk associated with cryptocurrency for that there is need to clarify one thing which is is burn out of personal research.
Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically, there is no doubt that DCA approach is good but then also if a newbie os not careful you could lose along the line of DCA so DCA is out of this discussion, but let dive into something more realistic taking recent happenings with so many investment scam, exchanges ditching off their clients money and so many other scam projects platform and signals that are notable bad actors in the market.
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically, there is no doubt that DCA approach is good but then also if a newbie os not careful you could lose along the line of DCA so DCA is out of this discussion, but let dive into something more realistic taking recent happenings with so many investment scam, exchanges ditching off their clients money and so many other scam projects platform and signals that are notable bad actors in the market.
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
Hodling is expensive and not for everyone and i will explain using your own context of "keep btc" and the market reality. Hodling in my opinion means you are buying bitcoin in a cheap price and keeping it for a long time until the prices peak. The reality; the reality is that everyone cannot buy and hodl 0.1 btc long term which means if you are buying and hodling 100-1000$ value of btc long term you are just playing around.
So my dear readers; look for valuable investments that help you increase your capital (Including MEME COINS); then use the proceeds to invest in bitcoin so that you are able to hodl BTC (if you want to) because to my knowledge, bitcoin is bullish longterm.
Holding also comes under the umbrella of investment. In holding, one is investing their funds or assets for a longer period of time, whereas in trading (which is also a form of investment), one is investing for a shorter period of time. That's why most people used to distinguish between trading and holding because both have different strategies and different outcomes.
Was on already typing this I felt OP actually made a mistake of contracting the two word holding and trading. Holding basically is also investment since is an act of allowing the assets grows into some profits over a period of time, it can be short or long but the the time frame determines the percentage of profit to be earn. This is what holding bitcoin is all about.
The one OP says about exchanges leaving with others money can simply be classified as trading because this is the only area where People leave their funds on an exchange. On to trading just like it brings quick profits to the investors the risk is higher to a total newbie to it and just like OP pointed out it is a huge risk for newbies to ho into it. So what I would say i deduce from the post is without proper knowledge just treat bitcoin first as an investment by holding firm on a good and reputable Wallet rather than trading to avoid scam
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
Sounds like good advice. But holding bitcoin is not easy. I have been losing money since I bought bitcoin a month ago, I bought it when it was $33,000, then the bitcoin price went down, I bought bitcoin for $29,000, and the price is still going down. I'm confused about what price to buy bitcoin at. Even though I only have a little bitcoin but holding bitcoin is difficult, I hope there's no sudden need so I don't have to sell my bitcoin
Holding also comes under the umbrella of investment. In holding, one is investing their funds or assets for a longer period of time, whereas in trading (which is also a form of investment), one is investing for a shorter period of time. That's why most people used to distinguish between trading and holding because both have different strategies and different outcomes.
Holding is also investment, so saying do not look for investment, just hold might not be correct.
But other than this fact, I totally agree with you that those who want to confirm profits or who are looking for better results than trading must prefer holding, but this advice must not work for everyone. Because some people want to become rich overnight, they know BTC cannot make them rich with their low investment, but if they invest in some shitcoin or some project that assures 100x or 50x (most are scams), they tend to invest in those.
They know the risk involved, but most newbies don't. The point is that the greater the risk, the greater the reward. Now one who is more greedy will look for more money and take more risks, while in holding there is less risk involved.
Ps: Before posting please check for spelling and grammatical error.
Holding is also investment, so saying do not look for investment, just hold might not be correct.
But other than this fact, I totally agree with you that those who want to confirm profits or who are looking for better results than trading must prefer holding, but this advice must not work for everyone. Because some people want to become rich overnight, they know BTC cannot make them rich with their low investment, but if they invest in some shitcoin or some project that assures 100x or 50x (most are scams), they tend to invest in those.
They know the risk involved, but most newbies don't. The point is that the greater the risk, the greater the reward. Now one who is more greedy will look for more money and take more risks, while in holding there is less risk involved.
Ps: Before posting please check for spelling and grammatical error.
The reason why so many newbies have missed their steps in Bitcoin is because they have missed the primary approach to avoid getting into the wrong investment, because we all know the risk associated with cryptocurrency for that there is need to clarify one thing which is is burn out of personal research.
Let's be more practical in this and come down to the real and actual fact about why people come into cryptocurrency and why bitcoin is far preferred than any choice, some lack the trust in centralized currencies, while some people needed an investment opportunity to make money while they have some financial assets to hold over a period of time, there's this positive vibez in us that trig our developed interest in making decision to go for cryptocurrency, part of some of these reasons are why we are all here together to maximize the opportunity in making financial wealth and freedom in it.
Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically
If someone can get introduced to bitcoin and already have an idea on trading, then it's nothing bad if he can quickly develop more skills in learning more about bitcoin and it trading, where the mistakes lies is in our people veting in what they have no idea about, definitely there will be lost of money, unavoidable mistakes and more errors.
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
I see nothing wrong with hodling as well as seeking better paying options provided you know what you're doing and you also do your researches as nothing is guaranteed in cryptocurrency industry even is the profit in holding guaranteed if the amount in holding is not relevant.
I do agree with you that holding seems to be the best option but on the other hand, I think everyone's reasons for adopting bitcoin differs.
The reason why so many newbies have missed their steps in Bitcoin is because they have missed the primary approach to avoid getting into the wrong investment, because we all know the risk associated with cryptocurrency for that there is need to clarify one thing which is is burn out of personal research.
Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically, there is no doubt that DCA approach is good but then also if a newbie os not careful you could lose along the line of DCA so DCA is out of this discussion, but let dive into something more realistic taking recent happenings with so many investment scam, exchanges ditching off their clients money and so many other scam projects platform and signals that are notable bad actors in the market.
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically, there is no doubt that DCA approach is good but then also if a newbie os not careful you could lose along the line of DCA so DCA is out of this discussion, but let dive into something more realistic taking recent happenings with so many investment scam, exchanges ditching off their clients money and so many other scam projects platform and signals that are notable bad actors in the market.
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
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