Topic: Long-Term Investment. (Read 87 times)

The mistake many investors make is going to get informations from random people on the media that mislead them into wrong crypto investment options for instance trading, they buy bitcoin and instead of hodling for a longer period they tend to trading with it thinking their market analysis would help them generate more profits but it always backfires cause trading with bitcoin comes with a very high risk.

 I saw a video of the famous femi kuti being all angry and calling crypto currency a big setup and scam cause his sister lost about #50m to it, truth be told, she made a wrong crypto investment cause if she had invested such amount of money into bitcoin for a full cycle then I don't think he'll be ranting on that video but would rather be seeking knowledge from her concerning the right cryptocurrency to invest on.

 Anyways the forum is an eye-opener when it comes to knowledge about crypto currency at large and the most important thing is that it would teach one about the best coin to invest on which is bitcoin, it's a very big privilege to be here and those who are not opportuned to know this forum are missing a lot.

Knowing where and how to get help in situations where you meet challenges that are bigger than yourself and what you can handle is also very important for you that is a novice in investing. Plenty of people who are new to investing have made big investments mistakes from their very first action simply because they had little access to places where they can ask questions and get answers. This place is a blessing because questions can be asked here, and as a newbie investor being a member of this forum, you should take full advantage of. Many people dey wey never hear of this forum, so na steady mistakes dem dey make.

DCA should just be the appropriate strategy for a newbie or novice. We should also highlight that even with DCA one can be greedy with their investments. The sole purpose of DCA is to give investors the opportunity to buy Bitcoin or other crypto assets at different prices over a period of time, but if greed is not watched out for one might want to invest more than they initially planned to at a particular market price.

It is best to first have a plan as an investor  of how much you are willing to invest and the intervals you prefer. Let's say an investor has #200,000 and wants to invest in Bitcoin. First he/she will need to split the money into 5 -  8 places and stay disciplined enough not to allow market sentiment make him/her go against their initial plan. Most times the market can be tricky; such that it will appear to be extremely perfect for investment and might lure a novice into investigating almost 50 - 80 % in a single price and can cost them emotional damage. Lastly never forget to have other sources of income even as we invest our treasures into Bitcoin because the goal is always long term.

In modern economics, Bitcoin is steadily establishing its presence. As time goes by, the number of Bitcoin users continues to rise. Although Bitcoin was initially created as a medium of exchange, it has now become one of the most popular assets for investment. In particular, Bitcoin is considered the most reliable and has the highest potential for long-term returns. To gain the maximum benefit from Bitcoin, one should focus on long-term investment planning.

As a novice investor, before starting your investment, you need to make sure of the following:
1. A reliable source of income or an alternative income source.
2. Basic knowledge about Bitcoin and investing.
3. A long-term plan and commitment to long-term investment.

If you can confirm these aspects as a novice, then you should proceed with your investment without hesitation. It would be unwise to wait for the price of Bitcoin to drop before investing. If you do so, you will delay your investment and lose opportunities to buy. In this case, depending on your situation, you can choose your preferred investment strategy from the options available.

Investment strategies:
1. Dollar-Cost Averaging (DCA)
2. HODLing (Hold On for Dear Life)
3. Value Averaging (VA)
4. Buying the Dip
5. Lump Sum Investment

Among the strategies mentioned, an experienced person can manage investments using any method they prefer based on their personal freedom. However, as a novice, I would recommend the DCA strategy and encourage you to invest using DCA. This is because, as a novice without deep knowledge of investing and Bitcoin, you may not be able to use the other strategies correctly. This could lead to making wrong decisions. With DCA, you can choose how much to invest based on your situation, and this method is very easy to follow. In DCA, you consistently buy Bitcoin weekly or monthly, regardless of the market conditions.

After investing, you need to make a solid plan to hold onto your investment for the long term and gain a deeper understanding of long-term holding strategies. While deep knowledge may not be necessary at the beginning, it becomes essential in ensuring the longevity of your investment.

To hold successfully for the long term, you must ensure:
1. Invest with money that is not needed for daily expenses.
2. Prepare backup funds as needed, such as:
   1) Emergency funds.
   2) Reserve funds.
   3) Sufficient cash flow.
   4) Other funds as necessary (name not important).

These funds act as safeguards for your investment. If you invest with proper planning and backup funds, you are less likely to be forced to sell your investment unexpectedly, and this will play a crucial role in helping you reach your investment goals.