What should be my fear?

[inthelongrun]

You probably know by now the need to keep your bitcoin safe from hackers and possible centralized exchange exits. The main concern is the fear which is related to investment. I think everyone or maybe 99% of people who invested money that they cannot afford to lose will continue to live with fear. I did it before, I studied bitcoin charts since the earliest I could get. So I thought that the past cycles would make me strong and overcome fear, I took the risk, and I signed a contract to assume a house and lot but held most of my assets in bitcoin. And then here comes the 2018 and 2019 bear seasons. I thought I can be alright knowing how confident am I that history would repeat itself. When it dropped from $19k ATH to $3k, fear beat me, I didn't expect bitcoin to drop that low and I cannot sleep well at night. So in the end I decided to sell all my bitcoins cheaply.

I learned the hard way. I should not have risked an amount that I cannot afford to lose.

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[lizarder]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

The current bitcoin price ranges from $16K, that means the previous price accumulation was at a maximum correction of up to $15K, as a beginner you are in the current correctional market condition. However, in my opinion, there is no need to worry, because once the recovery process is running on the market, bitcoin's condition will be fine. Supply and demand that enters the market will make us have the opportunity to enter the market now.

Stay calm and make purchases in stages according to the capital we have, so you can take advantage of accumulated bitcoins at any time, because the current price conditions are the right step to make purchases.

[fennic]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

If you believe that Bitcoin price that is currently at 16800 dollars is higher for you than you should not invest and go to bank and deposit there.
For a long term Ido not think that Bitcoin price is higher cause more you hold more the price will be up. If we believe in Cryptocurrency than we will be able to generate good amount of money from Cryptocurrency. Newbies only loose their money at the end.

[CryptSafe]

The fear of the unknown market was the major reason why  you were asked to invest what  you know you can afford to loose. Bitcoin was initially invented by Satoshi Nakamoto to be a currency in its own alone which would be used for transaction or invariably payment for goods and services rendered but however, people turned it to an investment which became the norm about Bitcoin. Since then people thinking Bitcoin is for investment purpose which is contrary to the invention.

Back to your question of what should be your fear. There are lots of things you should know about Bitcoin before purchasing it. At first you should know that the Bitcoin market is volatile of which you know what it means being volatile. You should be able to know that the funds you are using to purchase Bitcoin should be what you can afford to loose but be it as it may, if you are buying to hold for a long time, there is no issue as you can hodle it for a long time till you get your profit.  Lastly, you alone should  know that only you should have access to your own wallet hence the slogan you always hear or see onboard this platform " not your keys not your coin" key your key phrase safe to protect your assets.

[pawanjain]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

As a newbie your only fear would be to avoid a panic sell because of the dumps. All the other things can still be improvised over time.
But you can't do anything if you can't control yourself from selling your own coins.
So stay calm and know that bitcoin is here to stay and it will definitely rise up when the time is right and you need to hold strong.
Other than that you just need to be aware and pay attention on storing your coins in a non-custodial wallet and keeping your keys secure.

[Inwestour]

If you are buying bitcoin for the long term, don't get involved with CEX. Use a personal wallet, if you don't want to buy a hardwallet, you can use a wallet like electrum. But remember, losing the private key is the scariest thing. Save them well.

If this is a long-term investment, then we are probably not talking about a few hundred bucks, and these funds need to be protected as hopefully as possible. Therefore, there should be no compromises here, only the most reliable methods, if it is possible to exclude as many dubious points as possible, then this must be done for your own peace of mind.

[serjent05]

what should be my fear?

You should:

Fear of being among the weak hands
Fear having not much information about Bitcoin
Fear of not having trust in the Bitcoin market
Fear that you will chicken out the moment the Bitcoin price plummet.
Fear that you don't have enough patience to wait for the next bull run and new ATH of BTC.
Fear that you would listen to all the FUD and negative sentiments of Banks and Anti-Bitcoin groups

In short, there is nothing to fear as long as you have patience and trust to what you are investing.

[usekevin]

When the new people come to know about bitcoin, they are no longer new people.They get to know about bitcoin by the people who was influenced by bitcoin. Holding is essential one to learn trading. Because many miracles happen in bitcoin in a short period. So kindly buy and hold it for 6 months atleast to get good money as a profit.

[ilovealtcoins]

what should be my fear?

You should:

Fear of being among the weak hands
Fear having not much information about Bitcoin
Fear of not having trust in the Bitcoin market
Fear that you will chicken out the moment the Bitcoin price plummet.
Fear that you don't have enough patience to wait for the next bull run and new ATH of BTC.
Fear that you would listen to all the FUD and negative sentiments of Banks and Anti-Bitcoin groups

In short, there is nothing to fear as long as you have patience and trust to what you are investing.

Fear is a normal human response when we don't understand what it is, so to not be afraid, we need to understand it. OP should equip themselves with bitcoin knowledge so that they don't have to be scared every time the market has Fuds.

Another thing is don't invest with money you can't lose, bitcoin can give you profit, it can also take your money, in investment, profit and risk always go together.

[Quidat]

When the new people come to know about bitcoin, they are no longer new people.They get to know about bitcoin by the people who was influenced by bitcoin. Holding is essential one to learn trading. Because many miracles happen in bitcoin in a short period. So kindly buy and hold it for 6 months atleast to get good money as a profit.

On the time you have stepped your foot into this market then you should really be making yourself prepared.Mistakes and errors are common because we cant really be directly be
that being pro on the first time we do engage things that we havent encountered before.In a market like this where prices are too volatile and unpredictable.
In the time you do make out investment decisions and as long you are only making use of money which you are only be able to afford to lose then you wont really be
panicking in case you do see some negatives.

[ChiBitCTy]

If the purchasing of bitcoin is not in your spendable budget, then you shouldn’t be purchasing any bitcoin at all. First off bitcoin is inherently not an investment, secondly it’s likely to have a lot of volatility for quite some time, so if you do purchase some make sure you expect it to go to zero. That way you won’t technically have to worry about it taking a big hit downwards.

[Obari]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

I guess you must have heard the word FOMO which means the fear if missing out. This term FOMO is used in a situation where in a bit not to miss out from what the market has to offer, one jumps into the market out of the fear of missing out.
From what you said about, you're not certain of what you're about getting into which isn't actually the best for you because Bitcoin shouldn't be treated as a game but rather an asset or a digital currency and as such should be treated with caution.
Now is one of the best times to get into crypto (not a financial advice ) but first I will advice you to gather all the necessary information and knowledge you need to gather such as the basic knowledge for wallet, bear and bull markets, etc before diving into the future (Bitcoin) as no one will guaranty you success because everything lies in your hands.

[LogitechMouse]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

None.

You have little knowledge in cryptocurrency, but you want to invest into it? Learn the basics.
You are asking what you should you fear about? I don't think that you should've something to fear about. Maybe you are experiencing fear because you're a newbie. If that's the case then learn, research and apply. You are afraid because you might lose your money? Just look at the history. Just look at how Bitcoin moved from 2008-present.

When I was like you, I didn't fear anything because I didn't invest any money at all. I spent my time learning at least the basics and how to not be carried away by volatility. I didn't fear at all because I know that if I learn something, that will help me to make better decisions in the future. Don't invest first but learn and you will not experience fear at all. Set aside your interest in buying first and learn at least how to be patient and emotionless.

[laurenB7742]

If the purchasing of bitcoin is not in your spendable budget, then you shouldn’t be purchasing any bitcoin at all. First off bitcoin is inherently not an investment, secondly it’s likely to have a lot of volatility for quite some time, so if you do purchase some make sure you expect it to go to zero. That way you won’t technically have to worry about it taking a big hit downwards.

If we didn't see bitcoin as an investment in the first place, we wouldn't be motivated to invest in it. I get what you're to say, but I think it should still be considered an investment, but an extremely risky one and we need to determine that in addition to the opportunity to make a profit, we can also lose that investment. We should consider not only the profits but also the risks faced. That way, we will have a comfortable position in investing and making more informed decisions.

[AicecreaME]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

If you don't have any budget but you really wants to buy bitcoin, then do something about it, look for a part-time job if you're a student, or maybe look for another way to earn money if you already have a job right now. The only reason I only think for you to be afraid is when you will spend all of your money in bitcoin leaving you nothing, what I mean by that is that you will have nothing left to pay the bills and to buy your food, because you think that bitcoin will give you a large profit overnight, or even more silly.

But if you don't want to look for another job, look for someone like a relative or friends that are wealthy enough that is willing to lend you a certain amount of money that you desire to invest in cryptocurrency that will not give you a limited amount of time to pay back what you borrow.

[adzino]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

The only fear you should have is losing your wallet, which you won't if you keep back up your wallets and keep it safely. If you were planning to hold short term, you should have fear about about making losses because the market is very volatile and the price can take a huge dip within few minutes. But since you are planning to hold long term, I don't think you should fear anything. If you are still scared, look at the chart and you will know what you are doing the right thing. But only invest what you can afford to lose. And better learn a little about crypto currencies. It will help you make investment decisions.

[Sayeds56]

As a newbie who has a little knowledge of cryptocurrency but much interest in purchasing bitcoin for a long time Hodl, since the purchasing capital is not included in my spendable budget and the price of bitcoin is not very high at the moment 16k, what should be my fear?

Pls, advise me.

There is nothing to fear of, if you are willing to buy Bitcoin because it is the future of money, its limited supply of 21 Million makes it deflationary which is its major strength, no matter how much it falls during the bear run, it will bounce back and make new ATH . Please don't make all your buying in one go, buy in at 3 steps on dips hold it for long term.

[Antonas1]

If you are buying bitcoin for the long term, don't get involved with CEX. Use a personal wallet, if you don't want to buy a hardwallet, you can use a wallet like electrum. But remember, losing the private key is the scariest thing. Save them well.

If this is a long-term investment, then we are probably not talking about a few hundred bucks, and these funds need to be protected as hopefully as possible.

It seems you are right, and I have to agree. Most people will not hold Bitcoin for long term if they only have a few, they prefer to trade in the short term to increase their Bitcoin sum.

Therefore, there should be no compromises here, only the most reliable methods, if it is possible to exclude as many dubious points as possible, then this must be done for your own peace of mind.

Let's ignore the Electrum option then.

[Tony116]

If you are buying bitcoin for the long term, don't get involved with CEX. Use a personal wallet, if you don't want to buy a hardwallet, you can use a wallet like electrum. But remember, losing the private key is the scariest thing. Save them well.

If this is a long-term investment, then we are probably not talking about a few hundred bucks, and these funds need to be protected as hopefully as possible.

It seems you are right, and I have to agree. Most people will not hold Bitcoin for long term if they only have a few, they prefer to trade in the short term to increase their Bitcoin sum.

Incorrect. A few hundred dollars or a few bitcoins can also be a long-term investment, now it may be just a small amount, but when bitcoin hits 100k or 300k, it won't be a small investment anymore. In addition, if you do not have much money to buy bitcoins once, you can also accumulate monthly, yearly and your bitcoins will not be small.
Not everyone knows about trading, and not all small investors want to trade to increase the amount of bitcoin that many are still accumulating.

[Antonas1]

-snip-

Incorrect. A few hundred dollars or a few bitcoins can also be a long-term investment, now it may be just a small amount, but when bitcoin hits 100k or 300k, it won't be a small investment anymore. In addition, if you do not have much money to buy bitcoins once, you can also accumulate monthly, yearly and your bitcoins will not be small.
Not everyone knows about trading, and not all small investors want to trade to increase the amount of bitcoin that many are still accumulating.

Not really. Like you said not everyone understands trading, doesn't mean everyone does right? I don't know, maybe in your circle there are many people buying Bitcoin for a long-term investment, at my place is the opposite. Here so many people choose short term trading to increase their Bitcoin. So you can't just say it's wrong.