Topic: How to HODL for long. (Read 880 times)

Holding Bitcoin for a longer time is very easy if the investor is readily prepare to do so. Holding for long also required been patient and for an investor to succeed in holding Bitcoin for long he are she must be discipline he must set aside a discretionary income which will enable he hodl for long incase there is unexpected challenges that came you won't go and sell out your Bitcoin hodling. Also with the DCA strategy am investor can buy Bitcoin weekly or monthly inrespective of the price level.

Yes, we must invest that money wey we no go need use solve our problems. Because if we no invest for long time, e get more chance say we go lose pass gain from am. So make we fit meet all our daily needs without that invested money, we need to keep some emergency cash first. For example, if urgent medical treatment, urgent family problem, or any urgent need come up, make we no go depend on the invested money for urgent needs. Because that time fit make us lose plenty money. So always make we invest that money we fit afford to leave for long time.

You need to prepare yourself more for long-term holding such as not being aggressive in the first place and keeping yourself a large amount of floating cash. Unexpected events may occur at various times while your investment is ongoing, such as physical illness or loss of job or business downturn. The problem should be resolved without withdrawing your holding to address that situation. Hence it is recommended to keep at least 6 months or more in cash to meet your family's daily needs. The more cash you have floating around the more aggressive you can be in buying bitcoins during price dips which will keep your stack growing faster and your portfolio looking decent.

Holding Bitcoin for a long period of time is really important in bitcoin investment because that is what can determine your profits. Let's look at the story of Bitcoin and see from time it came into existence. Only those who are able to hold onto their Bitcoin investments are those in great profit nowadays, so if we really want reasonable profits from our Bitcoin investment, we should be ready to hold for a long period of time. At least try to experience two more halving before thinking of taking a period.
 
And one important thing is that someone should set a selling price for itself, and once you have that, try to hold onto that price so that if the price of Bitcoin does not reach that selling price someone should sell it, so that it will encourage someone for holding it Bitcoin investment. I have a friend who just set the Bitcoin selling price at $500k. Since the Bitcoin price did not reach $500k, he is not ready to sell his bitcoin investment. I can't actually predict the price of Bitcoin, but with the Bitcoin price target of selling, it needs to be hold for a long period of time with Bitcoin current price now.

For an investor of Bitcoin that is willing to HODL for a certain period of time there are things you consider before buying;
You have to set goals for yourself your entering and your projected exiting price should be stated after your research about the investment and you have to adhere to that.
Is it gonna be a long term or short term investment for you?
You don't use your emergency funds for this it a very highly volatile market.
Know the gain and risk involved in Bitcoin investment. And most importantly be informative.

Relatively speaking Bitcoin investment is an unlikely good plan, yes if you can take the right approach. Holding DAC and long-term holding is the main source of income with proper planning, which can play a special role and play a key role in making your Bitcoin investment sustainable. But on your income, suppose the monthly income is $120, and you spend $90, the remaining $30 you can invest in Bitcoin. However, Bitcoin investment should be a long-term plan, an expression of thought, urgent need or to face something challenging, why not think about the investment in Bitcoin at all, and I think that Bitcoin investment should be continued in the long term.

That is what i observe in bitcoin reserve too, you must have a spare cash that will sort out you health, food, and other personal stuff aside, do not include it in the biticoin investment funds, and if your are not a daily trader stop opening your wallet so you wont be tempted to touch it, just have a plan or a target year you want to withdraw   and let it be. because have seen people that have a long time plan and they could not make it because of fear of dip in bitcoin, never you be afraid no one is controlling the market, let you investment be. behave like investors in bank stock, they invest and they do not go to the bank every day to check their profit till a stipulated time.

Bitcoin also serves as a store of value as it fight against inflation, however, having a stable source of income can be good for anyone venturing into Bitcoin investment so that you will not looking up to your Bitcoin investment to solve you other needs, having a stable income flow will also help in ensuring a healthy investment as you will be increasing your the size of your Bitcoin investment by making purchase on different occasions as it takes fewer and fewer of Bitcoin to realize it up to a reasonable amount, a provisional emergency funds are very important as we are prone and vulnerable of encountering an unforseen circumstances such that having an emergency fund will definitely help by not selling your Bitcoin to solve your emergency issues or problems.

Setting your goal is crucial in Bitcoin investments and it is a way you know whether you are opting for the longest-term investment plan which is popularly called HODLing or a short-term investment plan where you invest and divest in a matter of weeks, months or a few years. This will help you have that determination and show you know what you are doing.

Some people actually claim they are investing in Bitcoin for long-term goals but due to the lack of goal and the determination to achieve the goal, they divest before the time. Though some will not divest totally but just a fraction of the investment, if this is being removed from the invest over and over again, what will remain? That is why one must know what his motive of the invest is from the onset so that a viable plan can follow.

Lol...I don't subscribe to this. There is nothing like saving for emergencies for a long-term investment, what if you exhausted the saved money? It is all about whether or not you are ready for it. If you want to HODL Bitcoin, just ensure you have a source of income that will make you independent of the invested money, period!

For you to have a smooth investment to hodl for a long term, it is very important to have a steady source of income flow that will be able to supply you all your needed resources for your investment without affecting your responsibilities towards your family or otherwise aside from your Bitcoin source of income that you get from campaign , that is outside the crypto world ,like setting up a business or having a monthly in come job for support.
To have a constant income of fund, you need to set aside reserve fund and emergency fund so that one can be able to augment the other, Incase of excess expenditure coming from your responsibility in a particular month in period of time, these will enable you to hodl for a long term using the DCA Strategy makes it a lot more easier and better to invest in cryptocurrency .

You are right. Bitcoin can be held for a long time only when we have another source of income. Because we can’t invest in bitcoin and be starving, we will sell even if it is lost, so it will be better to get what we earn before going into crypto investments or trading whatever we are in crypto to make money. There is no certainty, and it will help us if we have another problem or when the market crashes.

We call them newbies for a reason because they don't know anything about the industry that they're joining, only those that take it upon themselves to do their research na dem wey no go fall mugu. As a newbie e no get how you go dey just rush say you wan invest for wetin you no sabi how e dey be. If you be that type of investors, you no go last because this industry na one place wey anything wey you dey find to invest inside you go see. If you need ponzi scheme e dey. If you need Bitcoin doublers e dey, everything dey here so na for you to find the better coin na where you go need the help of community members for Bitcointalk. People here no go advice you wrongly because them been dey like you before and them dey speak from their own experience.


NCA (Naira cost average) na him sure pass say you wan invest for Bitcoin and without asking you no go know and you fit dey put all your money one time into the market but e go come dip. If you still buy like this, e no bad if you continue to dey hodl and not sell. NCA sha go increase the quantity of Bitcoin wey you for fit buy but if you no get plans of accumulation, you no get problem. The thing be say different ways dey to invest but DCA wey be NCA for Naira na him sure pass because e go give you money quantity of Bitcoin wey go mean say na more profit for you when you wan sell.

Some investors don't have a plan about their investment, they chose to buy anytime they like and sell anything they like, but they do t know that Bitcoin is not a fiat currency. It's said that most people that are new into Bitcoin lack Bitcoin knowledge which is true, some of them don't make research that's why they don't know when to buy and how to hold. Although even if a crypto newbie doesn't have good knowledge of Bitcoin, if he chooses to accumulate Bitcoin with DCA method it will not be a bad idea because DCA method gives him the opportunity to buy. But even with DCA method an investor also need to be patient about making profits because Bitcoin is not a get rich quick scheme.

Well, volatile assets have high risk but investing in historical stock market can put your margin at higher risk. Inflation is rampant in almost every country in the world and the value of your worldly wealth is decreasing day by day along with wealth invested in the stock market. Even if you invest in the stock market for a long time, there is no guarantee that its value will always increase. But if you want to take profit from crypto, you need to keep accumulating bitcoin for a long time. DCA method allows you to deposit bitcoin against disposable income every month which may increase in value over time. In the last 14 years, the value of Bitcoin has increased by almost 40 thousand times, which you must take into account. Whereas other cryptos are comparatively much weaker and more risky for investment. So you should decide and increase your Bitcoin holding.

Personally, i don't think HODL of Crypto Currency is for newbie or someone without other source of income, It's similar to buying stock which you're supposed to keep for a long time regardless the short-term market fluctuations, Although cryptocurrency market adds an extra layer of risk and complexity. There's no advice someone will give about that, Get a skill that'll help pump money which you can then split and make the necessary plan for investing.

what I have thought of mong many conditions that affect people's investment to be harvested prematurely is that they rush to invest at a stage of their life when they are supposed to be making savings. You can't jump the steps and think that it won't affect you ahead. Some investors are investing without having any savings anywhere. What would happen when challenges burst up in the absence of any available savings? It's the investment that will be the next stop, making the investment serving as both investment and savings, which ought not to be that way. So it's important that people make some savings before taking to investment plans especially for a long term investment.

There is a difference between trading and investment, taking your gains out of your investment  periodically is not investment, but trading and it is okay if you want to be a trader and not an investor, but my only problem is that you and who you quoted are intertwining both and I discourage that. You need little or no technical analysis to be an investor

Investing is buying with some level of funds and leaving it until maturity which you can choose to continue investing without tampering with your funds, or take out your gains, reinvest your total capital, some part of the capital, or even increase your investment portfolio as the spirit leads. Every investment has guidelines which you must adhere to if you want your investment to be worthwhile. Bitcoin investment prides in allowing your investment stay for a long period of time. Periodic gain collection and altering of your investment is not part of bitcoin proper investment guideline.

If you are not leaving your portfolio for a long time, let's say 4-10 years before altering it, then you are not investing rightly as short-term investment activity is a wrong approach to proper bitcoin investment.

Setting out goals and saving emergency funds is very important but when it comes to investment the two mentioned above is not enough perhaps one have to be discipline, determined, patient and above all understand how investment works. Bitcoin is a very nice investment and it doesn't require much technical analysis before investing in it and the best way to go about Bitcoin is to invest for long term. Again I don't think having source of funds or having emergency funds can make one not to touch their investment because some people touch their investment even when they have source of fund but rather discipline will help one not  to touch...

Before starting a journey to Hold bitcoin for long, first we should have a source we earn from. If there's a source of income, then lay out a plan that gives direction or guide in your holding journey in other to achieve your goals. Beginning with a strategy like  DCA is very recommendable because this strategy helps in accumulating Bitcoin  with a regular fixed amount in your own comfort and it make easy, going through the volatile market (ups and down trends). Through our earnings setting aside Emergency and reserved funds is an important aspects to help us hold bitcoin for a long period of time, Emergency are back bone to our investments these funds helps in not touching or selling your coins prematurely, while Reserved funds serves as a booster to our bitcoin's investments. Additionally, HODL for a long time requires patience and discipline in sticking to your investment and be knowledgeable not to be persuaded by the investment outcomes of others rather learn and stick to aims for the long run.

This is the best have read here so far, is good for one to know that no one control the market, anything can happen, even when we pray for the best,be prepared for the worst. Holding is one challenge investors in bitcoin are facing, its hard to determine when to sell, because they're so many experts with their own experiences, that will discourage you not to sell, as if they control the market price. I think you made it clear that one should know when to withdraw his profits. Don't reply on any experts ideas to avoid lost.

It is always better you have a plan over your Bitcoin investment before you invested in it and always try to stick to the plans. Many people get confused because they don't initially have plans for their Bitcoin investment and that is what normally course their panicking whether they should sell or not. Always try to know where you always want to be taking your profit. Asking people to tell you when to sell is not a better idea because nobody is expert in that way, everybody is just saying is own base on their technical analysis views.(knowledge)

Your decision on whether to sell or wait until the price rises even further depends on you. But make an effort to take a seat, reflect, and conduct additional research. No one controls the market price, so it is difficult for anyone to advise whether to sell or not,although it not bull run era but nobody can 90% assure you maybe it will continue maintain the rang of  $20k till bull run time or still fall beyond $15k.many people are only speaking about their own experiences.

Setting goals is very important and when setting goals, try your best to set achievable goals in your bitcoin accumulation journey. Always remember that it is for a long term and while setting the goals so it doesn't choke you on the way , plan to invest with the funds you wouldn't be needing anytime soon in the future. Holding bitcoin is easier when you don't have much attachments to the funds you invested and can comfortably behave as though it is forgotten.

Using DCA strategy is better when you don't have a very fat bankroll to invest, you invest gradually during the highs and low thereby striking a reasonable average in your investment over time and most importantly, reaching your accumulation target over time with consistency and dedication.

Again as a good bitcoin investor, you seek other ways to make extra money so you do not hurt your investment no matter the pressure. having more emergency funds available is synonymous to having a smooth accumulation journey.

For me, I for like to say if we want to hold bitcoin for long na just to get another means of income, make we no just put our eggs for one basket, that is to say make we no depend on crypto for everything.

Make we also dey invest for other things to enable us settle our bills or problem when we get emergency because if only we get one source of income, e go worry us to save or hold for long, because when we get problems or emergency we go use the ones wey we don save small to settle our bills and also take care of responsibility.

So it's not really easy for us to hold for long because it's our only way of source of income, we should try to have or invest in other things, so that we can hold for long because hold for long it's also good for us in the future.

Surprisingly how many people still find it difficult to hold unto this simple role, emergency funds has helped a lot of investors in difficult times when they actually have no other option to get finance from either as loan or by any process. Emergency funds is necessary, every investor should have it in front of their mind as it lesses the crave for an investor to sell earlier than planned whether it was to be as result of financial crisis or unexpected circumstances.

That's true. That's why it's advisable to invest with funds you don't need for immediate gains😊

What else can you do but withdraw while you accumulate bitcoins before your portfolio gets a decent size? That is why you need to decide before investing that what should be done in case of such an emergency. Depositing Bitcoin involves keeping a portion of your disposable income for deposit and the majority as floating cash so that you can use that money in an emergency without withdrawing the investment. Also keep more cash to better meet your daily needs. The higher the amount of your floating cash, the more aggressive you can be to accumulate bitcoins.

Well for me , I think this is even the most vital point that needs to be noted , I mean it's very very easy for you to actually touch and sell off your without even thinking twice and besides who would have issues to settle and tell me they wouldn't temper with their coins as they don't have back up funds saved up somewhere for this sort of issues? So it's absolutely paramount to have an external backup funds somewhere to help you tackle issues and aslo save your Bitcoin from being slashed.

Of all the above mentioned, having having emergency funds can play a more vital role for our accumulating journey, an emergency funds play the role of ensuring that we don't sell our holdings upon sudden panic or emergencies, you know in life one thign is certain and that is unexpected events and that can easily make an unprepared person to sell off his bitcoin, why this is so important is cause any money put in bitcoin is considered gone untill investment time is over.

You are absolutely right mate because as a good investor first thing you need to do is to set up something that will be giving you money every day to avoid touch your Bitcoin investment, although one thing that is really making most people's not to hold their Bitcoin investment for a long term is lack of planning because once you plan your self very well by keeping and emergency fund you we see that it we going to help you not to temper your Bitcoin investment.

Every journey starts with the decision to try so the journey of the Bitcoin investment is not a day jobs you have to start with the little amount. And the best Ideal is that since you have not any success of income what to do is that uos for to keep accumulate some of amount of money before starting investing, invest in Bitcoin deserves a lot of patience if you are out of patience is better for you not introduce yourself into that is why people's always given advice that you should learn exprences about the Bitcoin investment.
Not all people's are able to hold Bitcoin for long periods of time due lack of patience and holding a Bitcoin for long periods of time is best investment because is more profitable than hold and sell in a short periods of time, and that is what most people's do not understand about which mostly fall in victim of losing too much f their money in terms of investing.

When trying to hodl a Bitcoin for long, several qualities must be  to practice on the side of the individual, which includes discipline, patience, and a background knowledge of the rudiments of Bitcoin and crypto currencies in general.

Like you have mentioned above other things too needs to be put in to practice such as setting a goal, by setting a goal you have to define investment goals, weather you are holding for a specific price or a specific time, then we talk about understanding how the market works,  the market might go in for you and can also go against you, either way it goes you have to be ready for it,
Also using a good and well secured wallet will help keep your Bitcoin safe and secured, and also stay up to date to the happenings and trends  in the market and also considering the CDCA.

Exactly, before you begin your bitcoin investment, you should invest for the long term, not hoping that whatever comes your way would touch your investment money and cure your problem. That is why it is best to have a steady income before you engage in crypto investment. I've noticed that some people who receive funds will try to invest them without leaving them for the long term because they only want to invest for the short term and think they'll make a profit, and they don't have any other source of income, so if an emergency arises, they sell the coin and may lose or profit. If you want to start your investment, the first thing you need to get is a source of income so that anytime you get problem to solve, You will not touch your investment instead, you will use the personal money you have collected as a source of income to fix the problem. Because if you invest in bitcoin for the short term, I don't think you will profitable from it. Any money you put in bitcoin or other coins should be for the long term, not for the short term, and if you have not met your aim, simply leave because touching your investment will not result in an improvement.

If you plan your resources well, is very easy to hodl your coins like 4 or 10 years because you need to have other sources of income you will be using to sustain yourself till the price of your desire occurs before you can sell to make profits.

Yes, when you involve patience in your hodling, it will allow you to see the end of bear season which is a season of hodling not to experience losses in your investment, because if you sell in the bear season, it will not allow you to accumulate profits like long term hodlers.

That is why is advisable to invest what you can afford to lose because anything can happen that will make you to loss, but never you give up on your investment, because you can use another opportunity to recover all that you have loss in the past which is another advantage of hodling your BTC for long .

Just the perfect word for those who are new. You see, so many people thinks that you need to acquire the depth of knowledge before you can hold a Bitcoin, which shouldn't be the case. Take a good look at the country, where we have so many uneducated but smart people who are willing to learn. The basics won't be difficult for them at all, moreover our digital device has literally become part of us, making it very easy to learn. Signals and candle sticks might not be as important to them, as we can easily identify when there is an increase in price and a decline through the current situation of the country. Which means bull and bear market won't be that difficult either.

The part were you mentioned getting a side job/side hustle is as important as well. Side hustle act as a substantial way to support your investment. When you have other available funds, the temptation to mess around with your investment is reduced.

Above all, get a job or a side hustle when venturing into bitcoin investment, cos that will help you not to sell your bitcoin at any time when you have no funds to cater for your self when finances are low.

Bitcoin investment and its volatility can be frustrating and confusing for peso wey no understand how the crypto market be, as for the right time to enter the market(bearish market) and the right to take profits(bull run).

For one not to have the crypto market and its volatility confusing to them that will make them sell at loss price, em better make them have the basic knowledge of crypto before starting up their bitcoin journey so

Nobody fit hold investment for long time without emergency funds. This emergency funds just be like say na im be the fuel wey dey sustain investments. As car no dey fit move without fuel, na so investment no fit survive without emergency funds or other source of income.  Na this emergency funds dey fuck people up we be say dem no dey fit hold their bitcoin for long. As e be like this ba, no be every body get the idea of this emergency funds something. But e good as this forum don open people eye.

The investor that will enjoy and profit from HODLing long term, is the investor that has a steady source or sources of income. It is also an investor that knows how to oblige to the safe practices of using a hardware wallet and  is matured enough to maintain discipline despite the rise and dip of the cryptocurrency market.

If anyone does their research properly before deciding to HoDL long term, they would understand that HODLing requires a steady fraction of income at a time either quarterly or monthly or depending on ones convenience.

Omo to HODL Bitcoin for long don be the matter of discussion for long since because na watin people known as the early investors dem take cash out massively and the good thing about Bitcoin be say no matter what even till now you still fit hold am for long especially if you no how to plan yourself well because if you rush into investing in Bitcoin without having a good strategy then you might end up regretting because as your money fit increase na the same way your money sef fit take reduce wey fit come make you frustrate sell am off if you no get mind na make dem get the saying dat CRYPTO IS NOT FOR THE WEAK.

Long time holding is a core deal for any good investor in the BTC as the results is always impressive. Op all you mentioned is very important to help whoever with the desire to hold actualize the dream, as many has made mentioned which is not too far from my idea, any investment which the investor is hoping to take income from there to run daily activities or needs hardly withstand long term holding one need set outside element that kill long term holding practice by profiling solution like emergency fund , reserve fund and diversify other means if income as this could promote and keep the investment running untouched.

Hodling bitcoin for a long time investment is not difficult because all what you have to do is to prepare your capital which you want to invest in and buy bitcoin in the bear market and start the journey of hodling. And if you don't want to buy at once then you can set DCA method to buy bitcoin daily, weekly and monthly. You can select any one that is convenience with you to invest. And when you do invest, you can buy a phone which you can use as airgapped wallet so that you won't disturb yourself to check your wallet everytime.
Even though you don't have a steady income, you can still use the DCA method to accumulate more bitcoin every week. Whenever you hustle something out then you save small to buy bitcoin and that is how you will be doing to accumulate bitcoin until your portfolio go matured. And that is the start small to end big statement.

Wetin you talk nah true, but while you set those short-term goals inside your long-term investment, you go try dey focused make your attention no go shift from the main goal wey be long-term because of the petty profits wey fit come from the short-term goals wey you don achieve, cos sometimes all these investments dey Sabi play tricks on person and you fit easily lose focus before you even know.

Let's say you plan to HODL BTC for the long-term ( maybe 5 to 7 years na e be the initial plan) and then along the line after a year or two, you come dey see the small small profits wey dey enter there, then you decide to shorten the goal by taking small profit while still determined to HODL for the long-term.
But all of a sudden when you don start to dey collect those small small profits, you come dey feel like say you don arrive and say na there the main thing dey, small small your attention go dey divert from the main goal and then you go start to pull out any small profit wey enter on top.

This thing don happen to so many investors wey enter bitcoin investment with long-term goals, due to this main reason them don fall by the roadside, forgetting say that thing wey dey sweet well well, dey also bitter too, because when some kind DIP go hit the market, DIPs wey your long-term goals supposed shield you from, fear go come enter your body then make you go take decisions wey go fit affect your investment and possibly incur even more losses wey go pass the small small profits wey you take initially.


This na why the DCA strategy dey always dey come in handy for situations like this, because e just be like say you dey comot small money from your salary dey throw for saving box, saving box wey you no plan to break anytime soon, and by that time you go don get other mediums wey go dey sustain you, just incase the need for urgent 2k come, you go fit chest ambulance without even thinking about the investment wey you get.

Make we say for instance, person wey dey earn like 50k every month, as month finish and you collect your salary, you don drop like 10k for your investment knowing fully well say the remaining 40k go fit carry you till month finish again, na this one we dey call DCA.
To even make the whole matter easier for you, inside the 40k self wey remain, you fit dey keep like 10k for your emergency fund, then use 30k take guide till next salary show, you go see am say if emergency lap, instead of to run go meet your investment to collect money there, you get another alternative, wey be your emergency fund, the thimg go come make your investment safe and go dey steadily dey grow for you, and any awoof money wey enter your hand too, you fit split am, put some for investment and some for emergency fund.

E dey very important to take emergency fund seriously o, because na the only thing wey fit pose threat to person investment, so yes, emergency fund dey just as important as person investment because without am, the investment self fit no stand.

I was shocked to see the current price of bitcoin when I woke up today. My first thought was of long-term investors, and I said to myself, wow these investors will hit the spot in this halving.
Investing in bitcoin can be challenging, particularly for long-term holders. However, you will find it easier if you set goals and have a direction for your work.

Don't make it mandatory for yourself to hold for a long period if you know you lack the capacity or can't control yourself for that long period. That's why there are two options: short term and long term. You can benefit from your short term investment too, but everyone knows that long term investors are more profitable, which is why people always recommend it. However, both are still possible if you adopt the DCA method..
whether you are making a short-term or long-term investment. It is crucial that you set aside emergency cash, separate from your Bitcoin investment, and have a source of income that you can use to cover expenses without having to touch your investment.

To hodl for long no really dey easy ooh enough patient go really dey involve because Bitcoin investment is more profitable when it is been sighted for a longer term like 4 to 10 years and above and for this to be achieve patient must be involved, and it also advisable to invest that which you can afford to loss and for one to achieve holding Bitcoin for long one must set aside a reserve, emergency and float fund in case there is any unforeseen circumstances that may arise so you won't touch your Bitcoin hodling when this needs may arise.

Na true talk you talk, e go even better say as a starter you start with short term investment so you go confirm am well say true true this thing good and en go even better say person hodl for long. When you done confirm am with short term investment when you enter long term nothing person fit tell you way go make you pull out because you done see the good result before through the short term investment you been do.


I agree with watin you talk. Any body way they go into Bitcoin investment no suppose use money way en go dey in need of the next month because Bitcoin no be Ponzi scheme. Any body way won investment on Bitcoin make en prepare for am save out money way go be for the investment and also make sure say en salary money they come too so that en go use am settle challenges way come without dipping into the investment.

To put it in simple terms we can keep apart a decided amount for DCA on Bitcoin, will make on lumpsum Investment during the dip and set a target for that lumpsum investment of atleast 2X profit and leave it, Also keep accumulating Bitcoin through the DCA but the most important thing is these amount should t be affecting your daily expenses else you will end up selling it off hence need to increase the income by having better paying job to ensure a right balance is maintained.

If you no set goals you never start be that. Every achievement starts from goals setting as e go give you directions and any distraction wey come your way you go fit avoid dem because e get wetin dey your mind wey you wan achieve. The goal setting needs to start from the quantity of Bitcoin wey you wan get and how long wey you wan hodl am. Sometimes e make sense to have short term plans while you still get long term plans because some long term plans dey feel Impossible to achieve but if you get other small small targets e fit make you achieve your goals quickly and you no go even feel am say na that impossible goals wey you been dey see so na wetin you dun achieve already.


Dem say make you no do pass yourself, make you no go invest inside Bitcoin with important money that'll be needed urgently. Na only spare money go well or money wey be say we dun keep aside say na for investment na wetin we suppose to dey use and the percentage from your salary no supposed too much. The thing be say Bitcoin investment no be cashflow investment unless na trading wey you dey do for here or other various means of receiving cashflow for the industry. If na strictly investment wey you dey do then you need to plan yourself well so you go always dey get urgently 2k dem wey go dey bail you out of problem because dem go always dey around as for you dey alive.

That part of the thread is the most attractive one to me because many people wey dey clamour about bitcoin investment e no dey think of setting up a goal to achieve their aim. Before you invest in bitcoin you have to sit down.ans bring out a book and start your plans wey or how you want so am. First you ask yourself if na short term investment or long term investment. And if it is any of those periods then what are you doing to embark on the bitcoin investment.

Because if you no dey do anything before going into investment whether short or long term investment you no go survive and you go chop everything finished so you better do some extra so dat your investment fo reach the stated goal. Op I must tell you the truth e no dey easy to set aside emergency funds in Nigeria if not to create thread or say it in theoretically to at least encourage people to do e no dey easy oh. But do something so that your investment go last.

Truth be told there is no way family can be ignored especially when they need our help just imagine one of our family members are sick and they need money for bill. will you tell me that you will stick to your holding and wont do anything. it wont be possible. and i know how it feels but family is still very important and they are people we can not do without.

And that is why i would even advice the holder to have another source of income, and that way the holder will have more for upkeep. and that way you wont touch your holding because having only your holdings will only make life difficult, and having a source of income will only make things easier for you to hold. because if you don't have source of income you might even end up selling the bitcoin your holding because you wont be starving when you have bitcoin.

Saving money for Bitcoin na personal something especially when e don reach time wey you put to sell am, although me no be specialist but I know say Bitcoin dey always go up after the four years circle is completed so nai make many investor dey put their investment plan to be four years because dem dey always sell off because during that period Bitcoin dey dip well well so wen dem sell wen e dey up dem go come buy again when the price don drop well well again.

Holding Bitcoin for long term means say the person dey well prepared.E just be like soldier wey dey embark on a war no prepare how to crack gun e con dey go learn am for the battle field,at that point e enemies go just take advantage of am because him wasn't prepared for the war.Similar thing just apply for holding for long term,thing wey dey hinder people from holding unto their coin for long term na
1.Dem no get investing goals
2.No emergency fund
3.Dem dey depend on the profit of their investment.
All these attributes wey I list if any long term investor dey possess am then e go hard for the investment to hold him/him coin.

I actually don't see family issues to be only considered here the most. Investors can as much be tempted to spend on luxuries or pleasures, he can as well be left with no choice to sell his assets at personal emergency needs just at @AVE5 has said, the remedy to take precautions to keep holding is setting up other source for income being aware that you will be in need of funds to solve your financial requirements.

Yeah, there you are! You can indeed growing your assets values by accumulating more through your generated profits. It would as well increase your portfolio to higher revenues of income

Get a good job and do DCA and also keep reserved fund set aside to assist your unforeseen situation. Most times people do over looking all these things and think they can hold for long without them setting bases where they could start dipping hands to spend at their later ends when market seems not bright and as holdler you need the set a goal on how long you could hold be it short or long time but let it be that you planned on long term instead of short time.

Actually all the point you made where cool and that is the reason why long term investors or HODLers where able to have achieved their target and became who they are today. There is no successful person without a goal, aim and porpos of life. Without having a long term goal and having a steady income to back your long term journey up, am afraid you are going no where. just like a person who is travelling from pH to Lagos will have to fill the tank of his vehicle so that I will last long to be able to reach it destination so is to have an emergency and reserved fund is. You wouldn't have a long term goal without having a backup for that long term. Those who don't have backup for that long term are those who eat up there HODLings along the line. And inasmuch as we talk about investing in bitcoin, we should also apply with caution in a way that we wouldn't spend more than we can invest, like aggressive Investment. When they talk about aggressive investor, they are those that invest more than what they should have invested and later sell off, due to lack of proper planing. Your Investment on bitcoin should be lesser than your regular expenditure like, your house hold expense, reserved and emergency all together should be like %75 while your bitcoin Investment should either be %25 or %20. Sothat even if you Invest, it will not be an aggressive one. Or not over doing it.

Normally as an Bitcoin investor one should set a goal to meet , like for instance we all have our accumulating goal (like the number of Bitcoin we wanna have ), like most people goal is to have like 2 or 4 and above bitcoin stash in their portfolio. But actually get there one should be consistent with their accumulation, that's why is always advisable to accumulate with the amount of money you know you can easily afford without putting your hands in your emergency funds.

Because most usually make the mistake of going all in without having a back off funds (like emergency funds), to take care of expenses while they hold.  Which most time may only endup with them running to their investment, and withdraw it without thinking twice , whenbit haven't yield them any profit or just little. So to avoid such always make proper plannings on how manage your investment, e.g like having a good emergency funds.
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If u want to hodl your BTC for long, don't put your family issues for head no matter d love u have for d family, which is d best way to hodl BTC long to make wat u have never make before in d bull run

No dey use all your profits wey u make, if u want to hodl your BTC for long because d profit dat u are saving will b wat will help u to sustain during d difficulties for u not to sell Wetin go mak u regret in d future.

Make sure u have different sources of income, which is another method of hodling BTC for a long years before u can sell because u can use other sources to solve other problems to ensure u fulfill your purpose of hodling d BTC for long.

You can become successful as a long term hodlers, if you have already made a proper plan on how much your discretionary income is, and how much that you will invest into bitcoin without it affecting your monthly needs and expenses. Which means that you must have a means of income to enable you invest in bitcoin for long.

Emergency funds should be your priority when investing a d hodli for long so that whatever emergency that occurs during this time, you use the funds as back up in order for you not to sell your bitcoin when it is not the right time that you intend to. Have a reserve funds too to help you not touch your emergency funds only when a real emergency arises that if it is not taken care of, it will lead to damage of life and property. For instance, a great storm pulled off the roof of your house.

Have a bitcoin target and use a cold storage wallet to store your bitcoin, since you are only hodling and not selling, it is better that at the same time as you are hodling if you don't have enough Bitcoin, you should also keep on accumulating with DCA regularly weekly or monthly.

From your story you say u been de safe little by little for a year during your school days, it means that you were not really into anything that will be earning you money, who knows maybe you been de save from your pocket money. Well, at least you later archive your goals. I will never advise anybody to go into investing of bitcoin or even cryptocurrency at large without him having a steady income. I go prefer make you get something de do wey go de give u steady money wey go de help your through your bitcoin journey. Let take the current market as an instance, imagine say person wey no de get steady money invest for bitcoin since January by now him go don sell or even go de very tempted to sell. See as things come hard for the country join again but if u get where you de get your money you fit even forget say you invest till maybe you come hear from dem bitcoin expert say bitcoin don de rise you come come recall say you even get bitcoin. So it always advisable for you to have something doing before you go into bitcoin investment. Or better still if you are to safe before you invest then safe for emergencies too and miscellaneous expenses too.

For you to invest in Bitcoin first of all you should know your risk tolerance level and your goals should be defined, you should be able to know if you can withstand waiting for a long term, this will enable you to take your final stand on what to do, personal research apart from the mentorship gotten from whoever preached the investment to you is also a good starting point, every potential investor should remember to have emergency fund or other investmemt that they can lay their hands on if the need arises becuse hence you have decided to hold for a long term many waves may come but the only way ro overcome them is when you have alternatives means to salvage the situation as they are.
As a hodler you should stay tuned and be able to always have a first class information about the market to avoid being moved by the fluntuation of the price that may lead you to make a regrettable decision by making  shorterm decision because of the uncertainties facing the market in the time being.

For one to be able to hodl his or her Bitcoin for long first of all what he or she needs to do is to make sure there a steady flow of income that having like one or two source of income that will enable you not to temper with your Bitcoin holding one can easily go through there in other to settle some unforeseen circumstances that may arise.

Through the source of income you can decide to set aside some reserve fund and emergency fund incase any need arises you can also use the DCA method which help you accumulate more Bitcoin little by little either weekly or monthly as the case may be.

Being clearly stated, setting up a goal earlier on before you invest in the bitcoin would help you stay disciplined and unwavering that on no account would you temper with that your Investment until you hits your target.
It's not mostly about being determined to keep holding nomatter what the temptation could be, it's mostly about your endivoirs to setup an alternative for source of income by which you earns to sort your financial challenges otherwise, you'd be left with no choice that disrupting your investment goal.

In as much as it may look like a only those who have money are opportune to invest into cryptocurrency and those without money Should not it is true. People will say everyone can invest into bitcoin or cryptocurrency at large but I tell those who feed from hand to mouth are not fit to invest into cryptocurrency for me.

It is most at times not about having money and going straight to invest into crypto but can you afford to lose that money, someone who probably earns just enough to cater for his needs wouldn’t have this luxury to lose money and such investing into crypto will be a very high risk for them because when they might need the money might be a very wrong or bad time to sell.

So first step of investing into cryptocurrency is to first find two or more income streams and risk an amount you can afford to.

This is why it is very important to invest when you have a source of income. It is not really advisable to invest while struggling to meet your needs. It is kind of challenging to us who are willing to invest, even me personally. This same thing has happened to me before. It will be of no use to invest and sell in a short period of time.

You may even sell at loss because you really need the money at the moment, and since you don't have any other source of income, you will sell the invested money into bitcoin. So even now, if you still have a source of income, invest the amount you can afford to lose. Don't say that because you have money now, you will invest much money in bitcoin.

We invest in the considerable variety which become favorable for everyone of us. The space is filled with risks but they're worth taking because we're investors who solely wants the best for ourselves. It's advisable to invest in bitcoin and this have become a regular investment in the space. Everyone have a uprising plan and it this have become a regarding aspect for everyone to acknowledge.

If you don’t have other sources of income, it will be kind of difficult for you to invest in bitcoin, because anytime anytime wey u Dey broke, your mind go definitely go your investment. You no fit Dey hungry you go come Dey claim say you no go sell Wetin you get. Na why if you wan invest in bitcoin, you suppose do am with any amount wey you fit afford to lose, and the money wey you know say you no go use for now, but no carry money wey you suppose use chop go invest in bitcoin, because last last na you go use your hand go sell am back, and e fit be say na at loss you go sell am.

If you Dey invest make sure say make u get target. Like me now I divide my bitcoin into two, if I see say bull run don start and e hit my target, awi sell some part of my bitcoin, then I go leave the remaining bitcoin for my wallet, I know say after bull run, life continues so I go still get something for my wallet for future purpose.

If you no get emergency fund, if anything happens to you and you need money, na Wetin Dey your wallet you go sell, but if you get emergency funds, you go definitely go get Wetin you go fall back to in you need money, na why you no suppose leave all your investment for bitcoin be that.

Di most important thing for person wey de serious to hodl Bitcoin on the long term na to make sure say im get atleast one steady source of income, odawise e no go de possible to do am. Investment na secondary need, you go first of all make sure say your income de cover basic needs like food and shelter, den you go fit to put emergency funds aside as savings, no matter how small, na dat time person fit to de able to do long term hodl without distractions, na di way wey I take see am be dat.

Person wey get responsibilities and im no get work, or im income no de enough to take care of basic needs, make im forget about Bitcoin investment, even if di person come de lucky say im hammer money, make im no rush enter Bitcoin, make im first establish business wey go de give am steady money on di short term first. Di important thing na to get Bitcoin investment knowledge, you fit to start anytime wey your income grow pass your primary basic needs, no matter how small you go fit start DCA method, de hodl Satoshi, without to tamper di money.

As a bitcoin investor, you don`t think of eating your investment capital or taking from it before you get to accumulation goal even in rainy days except its highly important probably life and death. Its good to invest in bitcoin but when you are now taking from it before even reaching your accumulation goal then you`re not acting as a good investor who has a set planned goal which is bad because in the end you will notice that you have accumulated or nothing in comparison to your investment plan because you just turn your investment to savings

Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I had no income because I was still struggling with finance in the university so I decided to save little by little and i saved for a year plus and then started, it was challenging sometimes especially when I had nothing to eat I will remember I have Bitcoin and that I could sell it off.

Holding bitcoin for long term is difficult and the only thing that can help you hold for long is setting out your goals and also having an emergency funds.

Set goals:
Before going into a long-term bitcoin investment you need to tell yourself this is how long I want my investment to last or this is certain amount I want my investment to reach before I pull out.
When you set this goals it helps you have a direction on where you are going and also helps you achieve your goals.
I understood the principle of setting goals before I invested on Bitcoin and I can tell you for real that it has helped me in this journey of long-term hodling, I don't think of anything else each time I see my Bitcoin apart from the goals I have set in place for it.

Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.
When you have an emergency funds it helps you settle emergency issues without dipping into your investment.
5 years ago I invested on on a certain cryptocurrency. However I also was saving for something that was not too important, then I had an emergency which I needed to sort out, my only options was either to sell off my crypto investment or dip into the savings I was doing for something that was not important to me at that point in time, all I did was dip into my savings and left my investment from that day I saw the need for an emergency fund.