Bitcoin Forum

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.




 

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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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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.

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.

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

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.

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.

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.

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.

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.

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.

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 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.

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.

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.

Having a steady source of income is very necessary for long term Bitcoin HODLing. It's important to prioritize your basic needs like food and shelter before diving into investments. Savings for emergencies can also be beneficial. If someone has responsibilities and lacks a stable income, it's best to focus on establishing a reliable source of income first. Building knowledge about Bitcoin investments is valuable and when income exceeds basic needs, starting with small investments using methods like Dollar-Cost Averaging (DCA) can be a good approach. Setting goals is such a crucial part of the Bitcoin hodling journey. It keeps you focused and motivated and it's amazing how it helps you avoid distractions. When you have clear goals in mind, every time you see your Bitcoin, it reminds you of what you're working towards. Starting with setting the quantity of Bitcoin you want and the duration of your hodl is a great way to begin. It's very important that one should not invest in bitcoin with money they intend to get returns immediately or urgently. It's better to invest with money meant or set aside for investment purpose.

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.

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.

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.

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.

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.

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

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.

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 .

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.

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.

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.

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.

Watin you talk dey very correct before person go fit hold Bitcoin well en need those things way you just mention, especially emergency funds, without this emergency funds you go they always go withdraw your Bitcoin when you get small issue to solve with money. So watin you to just they correct person need all those things so person fit hold for long.

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.

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.

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.

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

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.

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.

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.

A lot of people don't know the importance of building and maintaining an emergency fund, reserves and a float when it comes to Bitcoin  investment, because without these things, ones financial stability is never ensured, especially for individuals with limited financial resources.
It'll be no different from using one's Bitcoin holdings as a form of trading or gambling because whenever an emergency arises, they'll always dip into their Holdings which will definitely lead to depletion of funds, rather than building it.
The availability of Emergency funds, reserves and float gives one a form or security whenever unexpected expenses, financial shock and emergencies surfaces. This approach makes sure that one's basic needs are met, thereby minimizing the possibilities of dipping into one's Investments.
In order for one's Bitcoin investment to grow significantly, there's need for one to always have a very solid financial foundation because the absence of a solid foundation would definitely lead to depletion of investment and could often hinder the potential for long-term financial success.
It's also worth noting that having an emergency fund, reserves and float is just as essential as the investment itself because without it, there wouldn't be any investment to start with, because surely, emergencies will occur and you'll always sort them out.