Topic: How to hold Bitcoin for long term without being tempted to sell. (Read 696 times)

Yes its the best approach that you can have if you are that holding for long term on which you would be needing up to hold up your coins into some non custodial wallet on which you would needing up to keep those keys on the safe place for that you wont be able to lost up those coins on which this will really be that needed to consider because there are tons who are really that careless and thats why they do end up on getting hacked or being that scammed because due on being careless and being that having no knowledge even with the basic stuffs on which its really that a waste of those coins. Somehow we are really that prone into tons of problems when we are still that noob because due to lack of knowledge and this is why at the moment that you've been keeping up some coins then never intend to hold into exchangers but rather go with your own personal wallet. Speaking about holding up without tempting to sell then its a personal kind of act because each one of us will be that basing up in accordance with our experience and with our own knowledge towards things.

Holding BTC for a long time is really a difficult task. But those who can do this difficult task can earn a good profit. Although investors keep their Bitcoin in a safe wallet, there is still a concern whether something will happen. Hardware wallet is the best to consider because it is the safest for storage. If investors can continue their investment well according to DCA, then they can earn a good profit from Bitcoin.

Because with reserve funds we can use them when we need money for the necessary needs without having to sell the Bitcoin that has been stored. Reserve funds must be in cash, not in other forms. In addition, the business must also continue to be active so that weekly income can accommodate everything including keeping yourself busy without having to think about assets in the portfolio. I think reserve funds are one of the capitals to make Bitcoin investments last for the desired period of time.

If you want to hold bitcoins for a long term then buy bitcoins and keep them in a non custodial wallet and avoid frequent market visits. When you visit the market frequently, you may panic if you see the price of Bitcoin falling. Because when you see your investment going towards loss then you will want to sell your bitcoins.  Because at that time I may feel that the price of bitcoins will fall much more so at this time you should sell your bitcoins and hold stable points to buy again at the dip.  If you do this you will never be able to hold long term.  So the way to control yourself is not to check the market more then 3 time in a week

What you clearly stated in your post is mainly the things to do, to consider hodling Bitcoin for long without being tempted to sell. For an investor who's patience, discipline, and have a set goal for their Bitcoin investment, 5-10years or more, I see them as those who can hodl Bitcoin for long not tempted to sell because they are already patient and disciplined to hodl their Bitcoin for many years as they planned to.

Hodling Bitcoin for long is not quite easy, one needs to consider having a secure hardware wallet like trezor. Focusing on the bigger picture and understanding volatility will help in actualizing the long term investment plan goal

Using funds that are not needed in the near future will certainly guarantee that anyone can achieve their investment targets, but this can only be done by those who have a steady income and can also manage their finances well so that it is easy for them to maintain these assets in the long term because without good financial management, it is very difficult to maintain in the long term, so it is very important for anyone who wants to survive in the long term to have funds that they will not disturb until they reach their investment targets and for some people who sell their assets at a loss, of course there is something wrong in managing the funds they invest so they have to sell even at a loss.

It's a normal thing that you we be tempted to sell off your bitcoin,if the price is not going to a favourable direction,but let me enlighten you,the temptation of selling off your bitcoin when the price is not favourable that one is only for beginners who don't know what they are really doing in market,not for investors who knows what they are are doing the market.I believe this write up explained something to you right?

This is one of the good solutions that I learned at the beginning of my forum journey. I want to take this opportunity to mention the great o_e_l_e_o who helped me by answering several beginner questions. I remember some people do not recommend this method. Probably because you may forget how you did it and how to unlock your coins. But if you save it somewhere and know how to search on the internet, then it's not a big issue.

I've been considering time locking some of my bitcoin. It's a great way to protect myself from emotional decisions and make sure I stick to my long term strategy

Thankfully we are talking about this topic in this forum then. Because you know that most of the members have gone through cycles. They have been here even from the previous year and had experienced what it’s like for bitcoin to reach high prices and be tempted to sell.

We are still on the same page because when you make up your mind that you won't sell your bitcoin for short-term profit, you have to invest in bitcoin with the money that won't make you find it difficult to sort out your daily expenses all the time so that it will allow you to successfully hold your bitcoin for the long term without thinking about selling it to get your daily expenses solved. I have seen a post in the forum where someone sold his bitcoin just because he needed to get himself a new laptop, and the reason he sold his bitcoin was because he invested all his money into bitcoin and was finding it difficult to sort out his daily expenses, so he ended up selling his bitcoin to do that.

It depends on what your long term Investment goal is. Most times when people hear about BTC, all the think about is to make quick profits from the market. This way, when we have a little increase in prise, away from their initial investment, they get carried away easily and probably end up selling at the wrong time. Just like you have stated, avoid watching the market constantly. Price moves in the up and down direction, that's it's nature so don't let little price movement get you to sell off your investment...

From the day one you make a decision of investing into bitcoin you need to also have made up your mind thay when you buy you won't sell because a lot of people make that mistake of investing but at the end of the day they don't even want to care what happens when they sell everything they have and that is not how it's suppose to be as a serious minded person having a drafted plan will make things easy for you one of the biggest mistakes people make is that you want to invest in a long time bussiness without any plan of funding and sustainability.

When you are a fiancé expect then you make things easy for your self and this is why you need a just for sustainability so that you will be able to grow, growth matters a lot, if not that you are investing a huge amount then you will need to do DCA and accumulate till when you get tired people are beginning to understand what it takes to be a financial expert.

How everyone wants to sell there profits depends on them, or  even decide to sell everything it's all there choice but financial considerations needs to be taken.

Your suggestion to not be tempted to sell Bitcoin may help many investors to be more practical about the way, but I think it may not be possible for most. People are more motivated to see their wealth in front of their eyes and they start dreaming about the future with it. The idea of ​​locking in for a fixed period of time is the opposite of the possibility of increasing holdings for investors which can make them lazy and spend their allocated money on other sectors due to irregular savings.

When you keep investing Bitcoin regularly, you have a plan every month or week according to which you can easily reach your goals. If someone says that considering locking in a portfolio during bearish or bullish times, it may be an immature decision. I would recommend that you do it regularly and continuously for accumulation Bitcoin at any amount because you never know when the future may be more better for you.

I am not saying that investing in bitcoin will stop you from doing a luxury lifestyle, but one thing I want you to understand is that a luxury lifestyle always affects investment. That is why many of the wealthy and rich people who really work for their money, you will hardly see them deep into those luxury styles. But many people that forced more on the luxury style are people that are struggling to make it in life, and this will affect them, and it is a wrong financial plan.

So even though you are accumulating, make sure you have money for your life needs but not for too many luxury items.

I don't even buy the idea of locking our bitcoin in a platform for a specified period of time since we aren't fully in control of the platform, and if something bad happens at the backend of the platform where we lock our bitcoin, we will not be aware, and we might possibly lose our bitcoin because it is not you key, not your coin. If any investor knows that checking his or her bitcoin portfolio all the time will make him or her sell his or her bitcoin too early, he or she should just keep his or her wallet's private key or seed phrase safe and uninstall his or her bitcoin wallet on his or her device so that he or she will not have access to his or her wallet at the time of his or her bitcoin accumulation journey.

In my experience the number one thing is having liquidity funds, if you want to actually hold your Bitcoin for long term this is probably the most important thing that you need to do first in order to hold your Bitcoin. I did hold my Bitcoin for years because of this trick when I just started on cryptocurrency I was just a student and even though the price was just around 200$-400$ as I remember the Bitcoin market price, I did buy Bitcoin for a small amount, actually invested most of my earnings but even time I would easily sell my Bitcoin for a profit, even though I want to hold, I dont really have the money to sustain myself plus this kind of money was huge when I'm getting profit so I'm always tempted to sell when the market price skyrocket, I remember I easily sell when the price skyrockets to 2000$.

If you already have the funds, it is going to be easy to hold for years like what I've done today, as long as you already have the mindset as well, but i would say that when it comes to emergency you have no choice but to sell so you need to build the financial foundation first before even starting to invest in Bitcoin because cryptocurrency is still a volatile investment meaning it is a very risky investment, so always diversify your assets and only invest money that you could afford to lose.

One of the best ways to invest in bitcoin without selling it for short-term profit is simply when you invest in bitcoin in such a way that it will not stop you from sorting out your daily expenses, which is investing in bitcoin with the money you will not need for 4-10 years or more, or investing in bitcoin within your discretionary income. If you invest in bitcoin in this way, you will hold your bitcoin for a very long time since the money you are using to invest in bitcoin is not allocated to solve any of your daily expenses, which could be one of the reasons that will make you sell your bitcoin for short-term profit or even make you sell your bitcoin at a loss to get them sorted out.

What we notice in the case of Bitcoin holding is that most people fail to hold Bitcoin for the long term due to both the ups and downs of the market. Even if they initially have a good plan to hold Bitcoin, they cannot hold that coin until the end. Some sell Bitcoin in the hope of a little more profit, while there are some who can sell Bitcoin to reduce losses.

If a holder wants to hold on to a long-term investment, he must not make any concessions on some important things. Especially, he must stop looking at the daily chart. Whether the price of Bitcoin decreases or increases, he must keep his emotions at the same level. He must limit his greed and the most important thing is that he must stop the habit of reading various news about Bitcoin constantly.

When it comes to holding then it does really require that much patience and having that belief on what you are holding whether on Bitcoin or some altcoins or whatever projects that you do really that believe into but since we are speaking or talking about Bitcoin then we are somewhat on that less risky in compared into those other altcoins but well it will be that still depending into your own preference and and liking on which one but of course if you do love on having that higher potential then it will be best that you do stick out with Bitcoin. Just like on what everyone is saying that even if its talking about holding but its never been simple yet there would be tons of things that affect the overall market movement.

How to hold? Just simply that accumulate Bitcoin whenever you do have the money that you can buy on, make use of non-custodial wallets, keep those private keys safe, avoid on watching out actively when it comes market movements or sentiments or any news. Sometimes this is the most common reason on why some people do make out some sell decisions in no time specially if they are seeing those negatives into their portfolio on which this is something which is really that hard to control yourself sometimes on not to make out any reaction.

I think Bitcoin investment is good for every investor for a long time. However, this is very difficult for every investor because many are forced to sell Bitcoin out of greed. OP According to the points you mentioned, we first need to become financially independent and then we need to create a backup fund. Backup funds are the most helpful when you don't have the necessary money. Even if the investor does not have the money to purchase Bitcoin, he will be able to purchase Bitcoin using the backup fund.
Actually, your point here is to set a goal before investing. Maybe investors plan to hold their investments for 5, 10 years, during this period, investors will regularly purchase Bitcoin and can sell their investment when the right target is reached.

In my opinion, the most important thing is to have a strong belief and also strong patience towards Bitcoin in the long-term process that must be instilled in us, because both will support and fight for what makes us able to do everything with what OP mentioned with effort and also will not be tempted by any temptation as long as the desired long-term goal has not been achieved and will do it with high discipline because they always assume that by instilling a strong belief in Bitcoin will provide extraordinary profit results if everything goes well and also with patience.

And if they do not instill the two things I mentioned, they will definitely falter at the beginning, in the middle, even when they have made profits many times over before reaching their initial goal, they will definitely be tempted.

Frankly speaking, if you are not in the actual situation, it's easy to give advice on what to do.

But if you are on the actual situation, I doubt most people will be able to follow those advices. Even putting bitcoin on something you can't access easily, you will do everything just to access it especially during a crazy bull run since you don't want to missed it.

No one can stop that person who has held for so long and it's tempting to sell when he's got more than 10x or even held for years. But if the holder isn't needing any capital or money for themselves then that's fine, keep holding.

This isn't planned by many.

That's because they thought that it will be a straight line going up forever without having the need to catch some volatility.

But sometimes even good intentions like this will always get obstacles, 10 years is actually quite ideal but not everyone can do that because after all with the current conditions we must realize that in the end the calmness in thinking to reach a peak is not easy.
Heavy temptation especially when the price of bitcoin soars or decreases drastically is always one of the things that sometimes cannot be dammed to let go of bitcoin for some people so that in the end it is true what many people say today where “buying and selling bitcoin is easy but maintaining with a strong hand is a different condition and it is difficult to do”.

When it is our intention to collect bitcoin and hold it for a certain period of time it is indeed very good and what needs to be considered afterwards when we already have a good goal like this is how we survive and become one of the many strong hands in the hodl portopolio that we have.

Among everything that you have mentioned, emergency funds and having a stable source of income are the most important tools for holding your bitcoin for a long time. Once you have where you are earning stable income from and emergency funds, then you won't have to worry about how the price of bitcoin is moving until you have been able to hold it till the exact date you want to sell it. Your income will sustain your income expenses, and if there are any expenses that you did not budget for, you can always take from your reserves instead of selling your bitcoin holdings.

If so WO could be ideal for you to be visiting since they mostly talks about long term and doubling ones investments when the market may be witnessing a short pull-back or corrections,  you may used that medium to increase your portfolio. Again one doesn't need to be checking the market that much except they are looking out to have some little buy back from the dump.

That you are investing into Bitcoin doesn't mean you shouldn't enjoy your self if you have the income to buy luxury items then why will bitcoin investment stop you from doing so unless you don't have the income to buy luxury items may be you are struggling to accumulate Bitcoin as long as you have set aside your discretionary income which is suppose to be your leftover income after you might have settled your pressing needs then you can start accumulating Bitcoin and leave your life in a way it won't affect you selling out in a short while, investors who can afford luxury things can still buy and still be accumulating Bitcoin investing in bitcoin shouldn't take away what makes us happy.

Sometimes its not just other panic that the market is dipping thats the reason why you would be tempted to touch your portfolio, I believe sometimes life itself can happen and when you  are not prepared for it you can just fall back to that same bitcoin that you are planning on holding so dearly so in whatever we do having a backup funds and other means of funds to cover for most unplanned event is the right and only to save up efficiently your bitcoin.

I think this is the most efficient way in avoiding to sell your Bitcoin because when I also had problems holding, I had to improve my search for a job to enable me to continue to hold. Having a job that serves as your backup fund or having money that you have kept aside as your back up fund will help you to avoid panicking when the market is falling. Your mindset has to be also programmed to holding for long term or all your efforts will still be a waste as you will always want to sell the Bitcoin you have in your belonging. Have several sources of income and you would not be bothered about the price of Bitcoin as you will then see it as a future investment that you will only sell in the future that the price will give you a better profits.

I think this is possibly the best solution for people who don't have the discipline to HODL for the long term. Sparrow Wallet (https://sparrowwallet.com) has the option to use timelocks and they're very easy to use. This is how I would help new users who want to HODL for like a decade. They still need to write their seed phrase down and store it somewhere safe but that is already common practice.

What you are doing is right. You have implemented all the important things to be able to store bitcoin in the long term without being tempted to sell it, of course you already have high confidence in bitcoin and to achieve financial freedom it cannot be in the short term but must be in the long term. The point is, all of this goes back to your mindset about bitcoin, if your mindset is wrong, you will definitely panic when the price drops, and will be tempted when the price goes up. So your mindset must be solid towards bitcoin so that you will not be tempted until your target is achieved.

If you are not sure about bitcoin, it is better not to try it because to get into crypto, of course you have to be mentally strong. Why? The ups and downs are crazy. The problem is, if your mentality is not strong when the price drops, you are afraid of losing, so you sell it in large quantities. Even though if you save it, the price will go up again. Next, don't be greedy. Take it easy, buy when the price is stable or about to go up. If it goes down, just hold on and invest bitcoin not using hot money, money not for daily needs but money that is ready to lose. If you have a mindset like this, I'm sure you will avoid the temptation to sell bitcoin.

All the things you mention can be the way for those who want to hold their Bitcoin for a long term. Yes, they must have a strong hand to hold Bitcoin and not tempting to sell their Bitcoin although the market is down. They will only see the chance to buy back Bitcoin at a lower price in the down moment time.

Set a clear time horizon and time locking solutions will help you to remind that you must still hold your Bitcoin until the time comes for you to sell your Bitcoin. You should have many things to distract your minds from the temptation to sell your Bitcoin.

Agreed. Proper risk management gets rid of most of such things, however, if a person really wants to sell and has already hodled for long enough in her mind - no one would stop her from doing so.
Surely, having a plan ready if the worse comes is a great idea, on any market.

That is true, having the patience to be able to wait is the thing that drives an investment bigger. If anyone ever calculates how much their investment can grow in compound if they keep investing and not take out, then they will realize that after 10 years it may not be much, but in 15 years it's a lot and in 20 years it's huge. Why that much difference between year 1 to 10 versus year 11 to 20? Because you are not making the same return, you are compounding. Just think of this, if you take from 2 to 4, and then 4 to 8, and then 8 to 16, it took you 3 years to go from 2 to 16, it's 8 times bigger and you just turned 2 thousand to 16 thousand in 3 years.

However, if you take 16 to 32, and 32 to 64, and 64 to 128k, suddenly you went from 16 to 128 in three years too, same amount of time, but suddenly it's 100k+ more income. And to prolong it further, 128 becomes 256 and that becomes 512 and that becomes a million. So as you can see, the growth is exponential, so waiting is VERY important.

Surrounding myself with like minded people has been a game changer. Talking with others who believe in long term holding keeps me motivated and less likely to ack impulsively

Long term holding is the best for every bitcoin holder, when you want to invest in bitcoin for the long term, you’ll need to strategize to have patient that will guide you through holding those funds. You will have a lot of temptation when you hold bitcoin and you’re seeing your account growing in profits, you’ll be tempted to sell most of your holdings. Some people may think the opposite way and have most of their funds sold due to panic of the losing those funds as a result of losses in the process. The market is very volatile and I think it is very risky to get yourself moved by the market also. A strong and stable mind is most important for holders and when you have some of this features in you, you’ll be able to make a good success in the market while holding for the future.

Convincing yourself to stay focused on the ultimate goal that we want to achieve in long-term investment must really be considered because indeed holding for a long period of time or vulnerable for several years is not as easy as imagined and indeed not a few of us are currently trying to continue to do so.

It is important not to be easily tempted to let go and not to worry too much about the volatility that occurs especially when there is a correction and decline because indeed the main problem of hodlers sometimes always occurs when the price increase is very high and when the decline is too far away so that those who really want to invest for a longer time are tempted to release their bitcoin because the profit is enough or indeed do not want to lose too much because of the decline.
Even so, for now there are still quite a lot of people who are and remain firm in their stance because they really think that their goal in investing is still not here.

Having a back fund is nice to see that it's on the number 1 list. Everyone who's tempted to sell has got reasons and one of it is when we do it, we need funds.

Because of lacking of back up funds, we tend to choose to sell for some things that we will never have money for. And that is the reason why we end up selling despite that we don't want to but we have to.

But, we can't also invalidate those that have sold for a better purpose. We will never know how long they've been holding but as long as they still hold some, I think that it's all that matters to them and they can always buy them back what's sold for.

Let me just brief you op about long-term investment and short-term investment the both is being determined bio personal decision because it is decision we make during our investment that with the mind if we are going to run a long time investment or not but some people does not have the decision already before them venture into investment that is why I've been bias whenever they says that their investment is going negatively and they will be tempted to sell, but when you gather yourself and decide not to sell you will not sell, that's I said long-term investment is done by mindset or determination.

Everyone have there own way of holding bitcoin and that is why I won't even suggest any thing for anyone because what some people need is just to get a job and then spend there salaries to be able to keep up with there daily needs because that is like the most important thing, and you having the mindset to hold for 10 year is a good thing but how you are able to accomplish that's matters a lot, and am not even a fan of of short time investment.

And all this this will depend on your finiacial approach towards the plan, and the future of your investment lies in your plans and some people might have a plan but accomplishing, is one of the most thing difficult thing to do because with all this financial crisis make's investment decisions very difficult to accomplish your, and finding a way to make it happen is not a bad idea.

On the bolded part, I thought they don't resort or rely on their investments? Remember, you said earlier ' those ' , so meaning this includes other investments and not just Bitcoin. But if they also invest on others, then they will only give and take. Like for example they will use the profit of their other investment in BTC today and then next time they will now sell their Bitcoin as it have matured already and then some these profits are now going on to their other investments. After all, it is not only about having enough money but it is also about having a long patience and I think this is something that can't be matched by any amounts of money.

Setting a clear time horizon works well for me. I've decided to hold my bitcoin for at least 10 years and I keep reminding myself to stick to the plan no matter what happens in the short term

Aside from that, they've got some other source of funds that they can pull just in case of emergency happens that they are in dire need of money. Compared to someone who's got Bitcoin as their asset, this type of feature is not going to help at all. It will help for holding but not for special cases and unforeseen things in the future.

Just like time deposit in the banks but I would not do it and will only think of some goals on how long I should keep it untouched.

Actually I think this only happens to those who are newly investing in bitcoin because those investors who has been in that system for decade will never pay attention to the dip or the increase in the price until it gets to their target. of course setting an emergency fund is very important during this process because is only when you don't have any other alternative apart from your bitcoin investment that you can be tempted to sell.

 One other thing that can make one feel tempted to sell his/her bitcoin is when you keep checking your portfolio from time to time maybe when you discover a serous dip in the price, those who doesn't know  about the market fluctuation will find it very difficult to withstand the pressure at this point they can be tempted to sell their bitcoin.

Everyone can get tempted to sell and lost his bitcoin, that's how our emotions can sometimes be manipulative. But if you really want to hold longer and control your emotions, you have to only invest on what you can afford to lose.

Don't invest all of your savings, but buy bitcoin using your spare money. That way, no matter how volatility hits bitcoin price, you won't go for panic selling, but stick to long term hodling. Not only because you don't want to lose, but you know there's always bigger opportunity to make profits when bitcoin price is at its peak price.

Not really. It all comes down to your wealth, what standard of living you're used to.

For instance, when you already own a house, a couple cars, have enough money to travel, some passive income, you don't feel tempted to sell. What's it going to get you? another house, or another car? You can get that anyway by selling the ones you own.

In my case, I don't feel tempted at all because I have that financial safety guaranteed. People who have no savings, still try to get that dream house, or save up for something that will allow them to show off, are the people who think of taking profit.

The smaller % of your wealth your bitcoin investment is , the less tempted you are.

Most persons cannot set a target to have emergency funds because of how their daily expenses are. That is one big problem because they will tamper with their investment. But the thing is they have no choice if they can't do this then they should get someone who knows how to calculate the percentage of what is to be put into emergency finds, reserves, and investments. In our monthly expenses, some unexpected expenses come in the way aside from emergencies. The money kept to tackle these things is called micelloniuos, at least it doesn't have to be that huge just a little percentage aside from our emergency funds.

I use to advise in this manner, don't do more than yourself, if you're making an investment, then go for the strategy of holding as according to your affordability, this will give you the peace of mind over the holdings in your portfolio, you won't even mind taking hasty decision for selling even if the market dips, because you already know that you're having enough time to make up with the market when it pumps during the bullrun.

Yeah, I think time lock feature is for advanced person.

I agree anyone can use time lock feature, but most likely people who dare doing that are already advanced and familiar with Bitcoin, they've experience to hold Bitcoin for long time. If I were newcomer or beginner who heard this kind feature, I'm sure I will avoid it.

It's crazy you need to wait for x period time in order to access the coins.

I think it's alright to have backup funds in Bitcoin, but perhaps wise to have them in a separate wallet from the one where you accumulate Bitcoin for long-term holding. Also, apart from setting clear time limits, it's good to have approximate price targets for spending Bitcoin. Maybe these targets won't be reached within the time limit, in which case it's probably okay to spend earlier (after all, our lives are finite and fragile). And maybe the price target will be reached earlier, so a person might consider selling or spending earlier.
Finally, I wouldn't use time-locking, as I trust myself and my self-assessment of needs and circumstances more than I trust the future.

Time lock would be the best option for those who couldn't control their emotion.
Investment plan would also be the key to avoid selling it, if you would only invest an amount that wouldn't affect your daily life then it wouldn't bother you much when the price increase.

You need to have self control to hold Bitcoin for long term and you don't have to watch the market too often and only focus to accumulating more Bitcoin. You can invest and forget what you did before so you will not thinks much about the market movement. Besides that, you need to set some amount of money to invest in Bitcoin so you will not tempt to sell Bitcoin in a low price.

If you can stick to your rule accumulating more Bitcoin and can stay focus with your plan, you will not tempting to sell Bitcoin. You can hold Bitcoin for long term because your target is not comes.

Once you understand BTC, you will never have a seed of doubt in your investment.
Bitcoin’s the truth, and it’s here to stay.

It's not that holding is easy or difficult; the answer to all of that boils down to the economic capacity of each individual. A person who has enough money to invest in Bitcoin and continue their life without needing to resort to those investments will be able to hold without problems.

This is because these individuals generally receive money from other investments unrelated to Bitcoin, which makes it easier for them to hold without worries.

The single best way to HODL BTC or any other crypto for that matter is to invest, save the stash in an ultra secure manner and to try and completely forget about it by avoiding news related to it etc.

Very few can master this technique, but the ones that do master it end up becoming rich overnight if their stash erupts in the upward direction. Just my 2 cents.

I completely agree that having backup funds is essential. It gives me peace of mind knowing I can handle emergencies without needing to sell my btc. It's like a financial safety net that helps me stay committed to my long term goals

From experience and in my opinion, two effective method that can help an investor hold unto their Bitcoin without spending it is, if the person invest just an amount that they can comfortably hold without their budget being affected, the second one is, if an investor have other consistent sources of income that they are relying on, they would not have need to  sell their Bitcoin.

The most important aspect to holding Bitcoin for a long term is, you having a backup fund. The number one reason up there is the most popular because, people invest for profit making and to be able to solve most of their problems.

If you have incomes coming from other places and your where grounded with the benefits that comes with holding for a long term, you wouldn’t want to sell your coins and lose in on the profit. An extra stream of income is what works for me.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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,

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.

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


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.

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.

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.

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.

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.

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.

Save fiat you can pull immediately when the time comes so that you do not panic and end up selling bitcoins or anything digital currency. You do not need to have a back up bitcoin. Do not give yourself that safety net. If you want to really hold bitcoin, then hold every single one you have.
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.

You have to sell your bitcoins, if you need money.

This is key point for your investment plan if you don't want to sell your bitcoin, you actually must have money so that you won't have to sell your bitcoin when you don't want to sell it.

Investment with own money, reserve part of your money for use like urgencies, spendings, and you will be able to hold your bitcoin a very long time.

Make your withdrawal plan, like this one.
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

If you compare the profitability of Bitcoin with other investments, you would be motivated to keep holdling for a longer time. I checked how profitable investing in real estate and Bitcoin for eight years and it was clear that Bitcoin was better. You make profit without stress, maintenance, public attention, etc investing in Bitcoin. I am motivated to keep hodling because Bitcoin has proved to be one of the best investments.  

Investors usually sell off not because of greed but fear. If you are greedy, you will keep hodling regardless of the pressure to sell because you want to make more money. It is FUD that is the main reason why people don't follow stated plans.  

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.

The easiest way to succeed is discipline. If you’ve created a plan for long-term holding, you need to stick to it with discipline. There’s always an opportunity to hold, as the market still has room to grow, which should motivate us to hold even longer.

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.

Holding Bitcoin for the long term without being tempted to sell is very difficult it requires a combination of mindset, strategy, and security measures to be able to hold for a very long period of time, below are some measures that will help you.

1. Backup funds.
Make sure you have an emergency, reserve and float funds, this funds will help you when ever you are in an emergency and you don't have finance which is what is needed, instead of dipping hands into your Bitcoin by selling it you can just use your backup funds to settle the emergency.
Having a backup funds will reduce the emotional pressure to sell during market downturns also.

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.

3. Set a Clear Time Horizon.
Make up your mind and decide how many years you want to hold your Bitcoin if it is 5, 10 or 20 years, and tell yourself you will reach that time you have set for yourself, see your Bitcoin as an investment.

4. Surround Yourself with Like-Minded People.
Surrounding yourself with people who are also holding for long term are very helpful, since you are in this forum you can always visit thread where they discuss and encourage long term Bitcoin holding.

5. Stay Away from Daily Price Movements.
I'm not saying you shouldn't check the price movement of Bitcoin but don't do it daily to avoid being tempted, you may set a 10 years plan for holding and in the next 5 years you saw that Bitcoin has increased dramatically in price now seeing how big  your money is every day may tempt you to sell.
Check but once in a while.

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.