Topic: How to hold Bitcoin for long term without being tempted to sell. - page 3. (Read 459 times)
January 26, 2025, 05:24:35 PM
It’s true, if it’s not your main funds then it’s easy to hold this kind of investments. If you have a lot of savings and it doesn’t really need some cash for yourself, selling at unreasonable price is not a good thing to do. It’s smart always to have a major profit because of your experiences. Imagine selling at peak price and endured those years of dump and survived the ref days of the market.
January 26, 2025, 05:11:30 PM
Temptations are actually hard to resist especially if it comes with massive returns. But if you stick to your goal and as much as possible control your emotions, selling your bitcoin will definitely be avoided.
The one thing to do is what OP definitely states out their which is first of all invest what you can afford to lose, no matter what you actually have researched or heard of bitcoin it is best to avoid investing almost everything with out back up or emergency funds. It is this step that most people skip and they go ahead to invest some of amount which they can’t do without and for every little market crash or FUD passed they will sell in Lose. So to quench the huge of emotions go for something losable.
Another thing is lack of plan is a big problem most people do not have their own preferred exit or take profits plan and this is why you either see them selling at lose or they sell very early. Setting target to take actually reduce all of these unnecessary risks and panic one puts on him self
January 26, 2025, 05:01:05 PM
In a short note, we can only be possible if holding our assets when we've alternative source of income and we're not living beyond our incomes that doesn't give chances to keep to our savings plans.
Most especially not to be effected by Fomo of so we don't sell at lost.
Keeping a self discipline and having reminded of it on daily basis are all points that gives courage to hold longer without selling too soon.
Most especially not to be effected by Fomo of so we don't sell at lost.
Keeping a self discipline and having reminded of it on daily basis are all points that gives courage to hold longer without selling too soon.
January 26, 2025, 04:58:22 PM
Temptations are actually hard to resist especially if it comes with massive returns. But if you stick to your goal and as much as possible control your emotions, selling your bitcoin will definitely be avoided. Have the right mindset and trust your strategy, and above all be patient, don’t be deceived with short term temptations as they can lead you to lose and regrets in the end.
January 26, 2025, 04:50:36 PM
6. Time-Locking Solutions.
Some platforms allow you to lock up Bitcoin for a specified period to prevent impulsive decisions.
This will really help you, when you have set out plan to hold for 10 years and you lock it for that 10 years you can only deposit more Bitcoin but you cannot withdraw or sell it till that 10 years is over.
I will never probably use any time-locking solutions that will lock my funds for a specified period of time. I'll do the time locking alone and will just set it in my mind. We will never know what might come in the future and you've got some additional funds to pull and when you have no choice, you'll never be able to use the holdings that you have. The best solution to not spend the Bitcoin holdings that we have is to have another source of income and whatever is left in BTC, think of it as forgotten forever and you'll only have to spend them if you want to in the future. Some platforms allow you to lock up Bitcoin for a specified period to prevent impulsive decisions.
This will really help you, when you have set out plan to hold for 10 years and you lock it for that 10 years you can only deposit more Bitcoin but you cannot withdraw or sell it till that 10 years is over.
January 26, 2025, 03:04:07 PM
Bitcoin is the only coin that is safe for long-term storage, and for all the points you listed above and to summarize everything, what we need is knowledge about Bitcoin and its ecosystem, if one has such knowledge it will become a stress-free journey for them while holding bitcoin since they have a basic understanding about the market movement.
Having a locked time is good, but you should never make such a mistake of having lock time with meme coins, only apply this to your Bitcoin investment and not any other coins in the market as they carry a high risk and frequently unstable market due to their pump and dump characteristics.
Having a locked time is good, but you should never make such a mistake of having lock time with meme coins, only apply this to your Bitcoin investment and not any other coins in the market as they carry a high risk and frequently unstable market due to their pump and dump characteristics.
January 26, 2025, 02:43:27 PM
It's good that you buy bitcoin with your extra cash after taking care of your basic needs and monthly expenses. Most newbies fail to understand this, and they use money for important purposes to buy bitcoin thinking to make profit in a short-term before the need of the money invested arises. You need to have a good financial management practice to be a long-term hodler, don't get carried away with little profit.
When you have the money to buy the market is alway open and when you have a job it is always very easy to buy because you will be able to take out some money to invest and when you have a job you will be able to be committed to the buying of the assets, and from there you will also have money to sought out your bills and still have money to sustain yourself.
And if you want to do short time investment it will be very risky so we need to have a precise estimate and make proper plan and I will prefer to do lone time holding than anything short because when you invest in a long time project you will be able make more profit from thay and when you have a good capital to start with it makes everything very easier for you.
But we don't have to worry about it because it's a long time investment you can wait for the return and it's going to be huge because when you buy high you will still sell high.
January 26, 2025, 01:44:17 PM
If you want to hold bitcoin for long term, just have a source of income you would be relying on. No matter your level of discipline or those you surround yourself with, if you don't have money to feed yourself and pay your bills, you would see yourself withdrawing your investment capital prematurely for personal use. This is something everyone should consider before investing else they would be wasting their time investing and might even be unlucky to withdraw at a loss.
Supported, having one source of income to me is still a no for someone who wants to be a strong bitcoin holder, be sure to have at least two stable source of income, have a plan to use either one quarter of your income for your spending purposes, your family needs and all other expenses should be included in it then you can decide to use the remaining one to focus on your bitcoin investment otherwise you will definitely sell part or almost your capital to solve family needs. Just like you clearly said, discipline does not solve everything when it comes to what money is needed to do you can not escape taking out money to do it.
January 26, 2025, 01:40:40 PM
One thing I was expecting to see was: PUT A BLIND EYE TO LUXURY ITEMS.
I know a lot of people will be surprised why luxury items. But I have ever witnessed a man fall off his bitcoin investment just to keep the standard of his luxury lifestyle. That is why I think it will be very nice if we let people know about it. Luxury items do not only mean jewellery, clothes, or other things but also include phones. Some people tend to follow the trend to get the most updated items, and this will not lead you to the right path but the wrong one, and it will let you go broke with no options other than to cash out from your investment.
Long-term investment goes beyond determination but also financial and behavioural self-discipline, which is only a few that have that, and the best method for you to hold for the long term is by teaching yourself the ability to accept defeat rather than losing your investment, so you will have to endure hard times when it is necessary for you to be able to secure your bitcoin investment for the time plan; that is why we call it patience. But if you have a bit of greed, then get ready to lose your investment.
I know a lot of people will be surprised why luxury items. But I have ever witnessed a man fall off his bitcoin investment just to keep the standard of his luxury lifestyle. That is why I think it will be very nice if we let people know about it. Luxury items do not only mean jewellery, clothes, or other things but also include phones. Some people tend to follow the trend to get the most updated items, and this will not lead you to the right path but the wrong one, and it will let you go broke with no options other than to cash out from your investment.
Long-term investment goes beyond determination but also financial and behavioural self-discipline, which is only a few that have that, and the best method for you to hold for the long term is by teaching yourself the ability to accept defeat rather than losing your investment, so you will have to endure hard times when it is necessary for you to be able to secure your bitcoin investment for the time plan; that is why we call it patience. But if you have a bit of greed, then get ready to lose your investment.
January 26, 2025, 01:27:45 PM
If you want to hold bitcoin for long term, just have a source of income you would be relying on. No matter your level of discipline or those you surround yourself with, if you don't have money to feed yourself and pay your bills, you would see yourself withdrawing your investment capital prematurely for personal use. This is something everyone should consider before investing else they would be wasting their time investing and might even be unlucky to withdraw at a loss.
January 26, 2025, 12:51:23 PM
2. Develop a Strong Conviction.
Understand that Bitcoin investment is one of the best investment right now in the world and holding Bitcoin for long term will be more profitable, and always remind yourself that Bitcoin is still growing and selling now means you have lost the future benefit of enjoying the big price.
having a strong conviction is the best way to not sell-- because often people feel doubtful about the investment they make... they have a weak conviction in themselves that the investment they make will not be profitable. having a strong conviction is the best thing for someone to prevent themselves from selling when the situation is not on their side. although having a strong conviction requires a process, if someone is able to have their own conviction and stay focused on the investment they make, they should not sell.
It's a component, not the best way. At the end of the day if you are not managing your finances and portfolio properly, it's more likely that a long-term plan to stay convicted will not be feasible. Good financial planning and money management is key to make conviction possible.
January 26, 2025, 12:43:52 PM
i applaud you for your writeup, but i guess many people who chose to sell the bitcoin in their possession already knew about the guidelines you have brought up here, but people have individual differences or problem that may have made them sold their bitcoin quickly and no one knows the gravity of the problem. that is why we always need to have emergency or or reserved fund to save us from spending unnecessary when we need it the most,
January 26, 2025, 12:33:41 PM
2. Develop a Strong Conviction.
Understand that Bitcoin investment is one of the best investment right now in the world and holding Bitcoin for long term will be more profitable, and always remind yourself that Bitcoin is still growing and selling now means you have lost the future benefit of enjoying the big price.
having a strong conviction is the best way to not sell-- because often people feel doubtful about the investment they make... they have a weak conviction in themselves that the investment they make will not be profitable. having a strong conviction is the best thing for someone to prevent themselves from selling when the situation is not on their side. although having a strong conviction requires a process, if someone is able to have their own conviction and stay focused on the investment they make, they should not sell.
January 26, 2025, 11:18:24 AM
If only the bull is the reason why you invest bitcoin it will be difficult to hodl because the market is unpredictable, if the price of bitcoin goes dip that means there will be panic. For one to be able to invest without any panic is to understand market very well, it is volatile and the dip can occur and whenever the price goes dip their is no need to be panic because that's the nature of the market. The dip is not permanent, it is an opportunity for one to even buy more bitcoin but some people misunderstand it.
I see there are actually lots of investors now that actually do just invest for a current bull run like they buy bitcoin before the halving happens with the perception that after the halving comes the bull run, this I will say is not entirely good or bad because base on past bitcoin history such kind of people will see profits because the market has a bullish trend after the halving. But the bad stuff side is, this kind of investors usually fall into panic for every little dip the market faces and this is definitely not a good way to actually hold a coin. Long term investment is what sets holders apart from each other and avoiding unnecessary panics and sells
Nevertheless one other reason why you should make use of cold wallets is because they are difficult to spend with compared to their hot wallet counterparts. The thing is you have to create transactions online and then sign offline before broadcasting online once again which is retarding to do frequently.
In as much as I agree a bit with you that the hassle of actually withdrawing from a cold storage can be discouraging and sometime prevents unnecessary spending, I can tell you that this doesn’t stops some who from actually spending from it. The habit not been able to hold for long is something an investors needs to learn and it is basically depends on how you invested into it.
January 26, 2025, 11:09:00 AM
How long you will hold your Bitcoin depend largely on how you accumulated them, that is the condition surrounding the buying process. Let me give an instance, if you buy Bitcoin with borrowed funds, even if you lock it with steal and throw the key into the Atlantic Ocean, when the creditors come knocking you will have to find a way to open it which is sell your Bitcoin even if it is at a loss. Similarly, if you buy Bitcoin with money meant for your basic needs, you will still sell them when the need arise because basic needs cannot wait.
To be able to hold Bitcoin for long term, you must only invest money that you can afford to leave in Bitcoin for that duration without yielding to the pressure to sell. To achieve this, always practice to separate all your cash inflows into funds for basic needs, fund for investment and fund for emergencies that will cover things not planned for which might come up. With this in place, any amount that enter your hand already have ways of being spent judicious and you will never be in any pressure to liquidate your assets over minor challenges.
To be able to hold Bitcoin for long term, you must only invest money that you can afford to leave in Bitcoin for that duration without yielding to the pressure to sell. To achieve this, always practice to separate all your cash inflows into funds for basic needs, fund for investment and fund for emergencies that will cover things not planned for which might come up. With this in place, any amount that enter your hand already have ways of being spent judicious and you will never be in any pressure to liquidate your assets over minor challenges.
January 26, 2025, 09:39:31 AM
If you ask me the key is actually making use of a cold storage. cold storages are practically safer when it comes to Hodling your coins since you are partially free from 90% of online threats which are the most common form of coin theft cases. Now don't bother asking why you are partially safe because although you are not connected to the internet, you can still lose your coins if you make careless moves.
Nevertheless one other reason why you should make use of cold wallets is because they are difficult to spend with compared to their hot wallet counterparts. The thing is you have to create transactions online and then sign offline before broadcasting online once again which is retarding to do frequently.
Nevertheless one other reason why you should make use of cold wallets is because they are difficult to spend with compared to their hot wallet counterparts. The thing is you have to create transactions online and then sign offline before broadcasting online once again which is retarding to do frequently.
January 26, 2025, 09:27:26 AM
All of them are correct.
But, it's all about money, when you have enough money, people can do whatever they like. Either they're short term holder or long term holder, I think it's hard to change someone else character, when they're basically short term holder, they will be tempted to sell their assets.
Usually, people who already enough/happy with their current lifestyle can hold for long term.
But, it's all about money, when you have enough money, people can do whatever they like. Either they're short term holder or long term holder, I think it's hard to change someone else character, when they're basically short term holder, they will be tempted to sell their assets.
Usually, people who already enough/happy with their current lifestyle can hold for long term.
January 26, 2025, 09:20:54 AM
One of the main reasons people fail to stick to their targets is greed or panic. They either get greedy and sell too soon or panic when the market turns bearish. I’ve seen this happen so many times before, people get excited and invest during a bull market (like now) because of FOMO. But when a bear market hits, they lose hope and sell at a loss. Which is why it’s easier to invest when you don’t put the majority of your money into Bitcoin as the more you can afford to lose, the better your chances of holding for the long term.
That is why understanding is the principal thing to get before planning to invest bitcoin, if you don't deserve the dip it means you don't deserve the bull. If only the bull is the reason why you invest bitcoin it will be difficult to hodl because the market is unpredictable, if the price of bitcoin goes dip that means there will be panic. For one to be able to invest without any panic is to understand market very well, it is volatile and the dip can occur and whenever the price goes dip their is no need to be panic because that's the nature of the market. The dip is not permanent, it is an opportunity for one to even buy more bitcoin but some people misunderstand it.
January 26, 2025, 09:03:02 AM
It's good that you buy bitcoin with your extra cash after taking care of your basic needs and monthly expenses. Most newbies fail to understand this, and they use money for important purposes to buy bitcoin thinking to make profit in a short-term before the need of the money invested arises. You need to have a good financial management practice to be a long-term hodler, don't get carried away with little profit.
Exactly, you know sometimes this happens as a result of not knowing what bitcoin investment is all about, probably after hearing about bitcoin investment from different sources they will just decide to dive into bitcoin investment. Hoping that bitcoin investment is just the same with every other investment, this is the reason why most people end up losing their money in bitcoin investment why most people also get a little profit.
However, holding our bitcoin for long term investment without being tempted to sell, actually I think it will be very difficult for some people but the easiest way to go about it is when you set an emergency fund or other business that can profit you on a daily basis. because is only when we have financial problem or any other challenges that we can only be tempted to sell our asset, this is why as a bitcoin investor is always advisable to set an emergency fund should incase of anything you can decide to use the money in your emergency fund to settle everything, with this I think you will not be tempted to sell your bitcoin.
January 26, 2025, 08:41:43 AM
1. Backup funds.
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5. Stay Away from Daily Price Movements.
Check but once in a while.
This is one thing I learned over my experience with bitcoin. Back then I would check the price and see how much my money have grown and it would make me excited but then I would get overly disappointed if the price so much as dips for a few dollars. Check but once in a while.
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