Topic: How To Manage Your Bitcoin For Long Term (FOR NOOB) Purposes (Read 455 times)

Simple, just buy bitcoin and wait until the price goes up by that you are earning.  You can earn more in bitcoin investment rather than investment in banks.

Bitcoin is a great choice for long term investment. So you can try a method which is known as "Systematic Investment Plan" or SIP in real world and used in stock market trading a lot. It uses dollar cost averaging method to lower your portfolio risk. Decide an amount to invest in bitcoin at a certain interval. Like invest $100 bi-weekly in bitcoin. So it will help you to buy bitcoins at different price points which lowers your buying cost by averaging the value of your holding. You will sometime buy at high price and sometime at low price. This method is actually very helpful for a fluctuating market like bitcoin. 

We recently launched ∆ Delta which I think is perfect for people that just started invested and want to keep track of it.

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Bitcoin have a good movement, u can buy at low prices and wait till 3 or 5 years to sell it. Cause many people have high speculation about price of bitcoin

There is not much to be done or managing to be done if you want to invest in cryptocurrencies  for long term. Just have a cold or hard wallet, then keep it safe and forget about it for years. The key is to hold and not panic sell whenever the prices are decreasing.

We get a lot of these types of questions and the answer is always the same. We can give you NO guarantees that it is a good

time to buy any Crypto currency, but based on historic statistics the value of bitcoins has only gone upwards over time. Do

not look at the short-term volatility, because the Bitcoin price is being manipulated in the short-term. A year ago the price

was $618.9.....   

Yeah. We are the same ideology for playing safe on BTC. I bought trezor recently for sole purpose of locking my BTC. And it really works, Bitcoin is now pump while I bought my BTC during dump season. Until now, I don't have plan to sell it because I'm too lazy to open my trezor. 

If you want to play safe just lock up your btc and forget about it. If you can take risks then go for some popular altcoins like ethereum or litecoin to get some momentum and knowledge of how market works. But try to remain btc liquid. Dont trust any unpopular altcoin in long term.

My tip is to invest first on yourself! Study more about Bitcoin and make some research before investing. Bitcoin can be consider easy money because it can turn you a millionaire in one day but it is too risky that it can also make you a beggar in a day.  To manage your Bitcoin for long term is choose first a trusted wallet or much better if you have a hard wallet. Then hold your Bitcoin for years and wait till the price rise to the moon!

Everyone who enters in bitcoin were smart ,not everyone have knowledge in btc, so we can considee smart already those who knew it and can be smarter if they knew how to hold or hw to make their btc grows.

None could have thought that the price will grow to such a value that we have at present. Even now after such a big growth people fear of investing, just because of its decentralized system operating. It's good to buy and hold, even noobs can do the same if user has a good fiat backing to buy bitcoin as well have some technical knowledge about the security system for safe holding of assets.

in my opinion you can find bitcoin by joining bounty campaign in bitcointalk this, if already get bitcoin you just invest your bitcoin you have. if you want more, you have to have a higher rank in order to pay your bounty campaign more.

Store them in an offline cold storage wallet, as simple as that. Doing this will not only make it remain securely with you but also gives you a nice feeling from the inside as you watch your BTC grow each day.

This is not the best time to buy bitcoin,if you look at the market,the price is rising on a daily basis and it is almost reaching uncharted territories so the risk in which the amount of loss you could encounter if the market goes down will be really high ,so wait for the market to have a slight correction and then plan on entering it.Light weight wallet or hardware wallet is my first options to save bitcoin for the long term and make sure you have two back ups at the least.

This is how the person I know told me about investing on bitcoin. Tell your friends about this combine your money then you will profit in the future. But the thing here is this, you should buy at the dip so that you can really profit a lot.

One thing for sure, it is good to see the many mistakes others who have been in this industry for years made and get educated by the many lessons they got at a certain price. Others have lost big amount of money either by accident or by their own decisions which turned out to be bad ones. Certainly, there are many lessons that can be culled from many members of this forum.

I for one had done many mistakes. There was a time that I converted my Bitcoin into fiat cash thinking that something bad would be happening but it turned to be that Bitcoin became resilient and it easily came back from its short-term fall. I was a victim of phishing scam from an email emanating from Slack (please be careful with that site never ever click any link unless you are 200% of it).

Never listen to other's speculations even in this forum as nobody can ever predict what can happen next especially with Bitcoin. Bitcoin is a very different kind of animal that even experts can be baffled sometimes. What's worse is listening to FUDs which can be flying around in the media, cryptocurrency-related sites and even in this forum.

Be careful in investing your hard-earned money with any altcoin as many of them can turn out to be dud and will no real value (some can even be scam or just plain shitcoins, as they say). Due your diligence, follow your head and not your heart.

That's all, folks!

Thanks Alot it Helped!!!

If you just want to buy bitcoin and hold for more than a year than you should move all your bitcoin to either paper wallet or hardware wallet like trezor.

If you want to invest your bitcoin in multiple altcoins right now to make good profit in long term than you should invest in some promising altcoin  when they will be dumped like right now, because of fork hype bitcoin price is increasing and many people are selling off their altcoin to get back bitcoin so that they can get some free forked coin on coming fork.

You can invest in multiple altcoins with high marketcap right now to increase your total bitcoin holding when altcoin will be pumped after fork.

Awesome ill do it is this the best time to buy a bitcoin at this price ?

Well I will tell you a secret for your success in investing in Cryptocurrency. If you truly wants good return from Cryptocurrency then I advise you to do this following steps.

1. Prepare your money to invest (assume this money is gone suddenly and don't mind it)
2. Do an extensive research on any cryptocurrency that you are going to invest, don't get into hype.
3. Buy the cryptocurrency that you truly believe in, make sure to diversify your portfolio.
4. Transfer and store them to a Cold Wallet, and don't touch them.
5. To monitor your portfolio daily, use apps like Blockfolio and other.
6. Don't panic when the price is going down, anything that goes down will goes up again.
7. Don't have a weak hand, and HODL, don't get dragged into panic selling.
8. HODL.
9.
10. Profit