You must have a source

[mirakal]

Long term hodling is not all about having a smooth journey all throughout. There are times that you get tempted to sell earlier because you need funds so badly in order to survive from daily life's struggles. But if you have a good and decent job that pays well, wherein you are provided with a consistent flow of income, then you can grow more your investment by not selling at earlier and a lower price. That is why having a stable source of income is very crucial.

For those who are planning to invest and do long term hodling without a stable job, think a lot of times. Still, you won't be successful with that. Find a decent job first that generates a sustainable income, that way you can also invest at the same time and see it growing through long term hodling.

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[Oasisman]

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

This is actually what the saying "invest what you can afford to lose" really means. Some people may have a misconceptions about the saying. Some may have the source of income but doesn't have emergency savings funds. Yes, they have a spare after all the necessities and bills are taken out, but what they fail to realize is that, when emergency occurs and an immediate funds are needed an unwanted bitcoin withdrawals are most likely going to happen.
Therefore, not only does the source of income that we need to be a concern of, but also consider emergency funds before putting something into bitcoin.

[YUriy1991]

That's one strategy that must be built and this is the first layer that must be strong as a defense in investing. Consciously or unconsciously need often comes unexpectedly and do not let what has been the main purpose of investment end up halfway once WD  there will always be the next WD. It may sound strange, but that's what happens if not other posts in terms of income.

[wxa7115]

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

This is actually what the saying "invest what you can afford to lose" really means. Some people may have a misconceptions about the saying. Some may have the source of income but doesn't have emergency savings funds. Yes, they have a spare after all the necessities and bills are taken out, but what they fail to realize is that, when emergency occurs and an immediate funds are needed an unwanted bitcoin withdrawals are most likely going to happen.
Therefore, not only does the source of income that we need to be a concern of, but also consider emergency funds before putting something into bitcoin.

This is often a neglected step by those that are trying to gain financial independence, it is true that an emergency fund may go unused and this could reduce your profits, as that is money that is not invested and it is not growing alongside the rest of your capital.

But we cannot really afford to not have that money in hand, because if there is an emergency and you do not have enough funds to solve it then you will have to depend on the money you invested in bitcoin, and very rarely you will be able to sell your coins at a point anywhere near close the price levels you expected.

[LogitechMouse]

You must have a source of income if you must succeed in your holdings.

This is self-explanatory, and take note that this doesn't apply only to investing, but to everyday lives as well.

After you graduate from college, find a source of income already, and don't be a burden to other people. I mean if you want to invest then you must have an income source for you to have some funds to be used in investing. What do you want? You will ask favor from your family to give you money that will be used in investing? Kind of funny.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

You don't need knowledge if you want to hold.
What you need is self-control.

TBH, even a newbie out there who has little to no knowledge about Bitcoin can hold as well. Many investors out there know everything about Bitcoin, but they can't hold because they can't control their urge to sell whenever they see Bitcoin up double-digits in just a few weeks. Self-control for me is more important for me, and as for the source of income, we all need it.

[naira]

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

This often happens to me and every cycle I still experience the process of failing to hold Bitcoin. I recently had to sell some of my Bitcoin holdings in order to meet basic needs and buy building materials for house construction, despite having additional income the reality is that covering costs is still very insufficient. The minimum wage in my country is very small and it is difficult to survive amid the increasingly expensive costs of basic commodities but the government still does not take action to increase salaries. It's a major economic problem where I live that low salaries require us to have a lot of extra income outside of our main job. I still hold a few holdings and hope strongly to hold them for a little longer, at least being able to take profits until Halving next year. You're right and we're in a similar position, but there's no choice but to take the financial share available. It's a risk that investing in the face of uncertain income sucks.

[Nrcewker]

Be it Bitcoins or any type of investment, having a source of income is mandatory to support you. You can’t rely on the investment in order to survive the life. The investments are made so at a maturity point you will get sufficient money, hence while you are investing, you need to live the life through a fixed source of income. Also it will be beneficial if you invest the amount that you can afford to lose. Just split your income into proper ratio of 30:30:40. 30% of the income in investments, 30% in savings and 40% to pay your bills.

[Y3shot]

The reason one needs to have a source of income before planning to invest cryptocurrency is because cryptocurrency doesn't provide peoples upkeeps everyday, profit gained from crypto takes place one's in a while. As humans we need to survive everyday, so we need what will generate money on a steady for this. Crypto expecially bitcoin can give profits if only people can hodl bitcoin for sometime and it is not possible to expect steady flow of money from this.

[Littlemini]

You must have a source of income if you must succeed in your holdings.

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

Investing in Bitcoin will surely set you up for long-term investment success. Investing should never be rushed. Invest what you can afford to lose. It must have your source of income be it job or business. It is definitely desirable to have income in daily life when we need funds for the urgent needs of people or for living. Whenever we invest all our money, we sell bitcoins at a loss when we need money. Long-term success by investing small amounts rather than investing all our money

[Blitzboy]

Bitcoin hodling, especially over the long term, works well with diverse portfolios. It's important to spread out your money, especially if Bitcoin is risky. Although Bitcoin seems like a good way to save money, it shouldnt be the only thing you do with your money.

Stable jobs bring in money and keep your finances in order. This liquidity is very important for Bitcoin and other risky businesses. It keeps your investments safe during market downturns instead of selling them quickly.

People who dont have a steady income should work on getting financially stable. Bitcoin is interesting, but it shouldnt be your main way to manage your money. For this long-term play to work, you need a strong cash base. Bitcoin is a revolutionary way to handle money, but trading requires care and balance.

[2Pizza410000BTC]

You must have a source of income if you must succeed in your holdings.

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

Yes it is 100% true that one can never succeed in holding without having source of income. A source of income is essential to be successful in holding. In reality what always happens with us middle class is that if we hold on to something we have to sell it at a loss due to lack of family. Because I don't have any other source of income I support my family with weekly earnings from bitcoin forum. So we can't keep holding even if we want and even if we keep holding, we have to sell it. But if we had another source of income, I could have kept part of my weekly payment on hold.

[Distinctin]

They say people cannot invest without a realiable source if income. And I firmly believe its true. You cannot successfully hold your coins even for months if your finances is miserable. You need to have at least a good source of income so that your personal expenses will be separate from your investment expenses. And you can still live comfortably even without relying on your investment's future profits.

I'd come to realize that poor people who successfully hold their coins have been struggling a lot to control their expenses. But everything will paid off in time and they'll get to benefit from their long term hodling.

[DabsPoorVersion]

They say people cannot invest without a realiable source if income. And I firmly believe its true. You cannot successfully hold your coins even for months if your finances is miserable. You need to have at least a good source of income so that your personal expenses will be separate from your investment expenses. And you can still live comfortably even without relying on your investment's future profits.

I'd come to realize that poor people who successfully hold their coins have been struggling a lot to control their expenses. But everything will paid off in time and they'll get to benefit from their long term hodling.

It is true that if you don't have an alternative source of income, your invested money may not last for more than a few months. Investing in cryptocurrency does not guarantee immediate profits, and it may take a considerable amount of time to earn a profit. If you rely solely on your investment and have no other source of income, you may be forced to use your investment funds to meet your basic needs.

[Cookdata]

You must have a source of income if you must succeed in your holdings.

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

You know when a man is hungry, they find it hard to think straight, that is how investments also look like on the face of man who has plenty of financial problems, not just Bitcoin but every other investment behaves like that too. Is not about even having a source of income; your income might be way smaller than your financial problems and the next thing that comes to your mind is how to borrow and when you have no one after soliciting here and there, your investments are the next options that will ring on your mind because you wouldn't even think whether it is at profits or loss.

Many people that you see today that have millions worth of bitcoins today is because they have another means to take of their life, they are doing average and some are even doing great and never in their lifetime exposed or told anybody they own a bitcoin because they see it as a back up to their life in the sense that if something happens tomorrow, bitcoin shield them quickly and feel nothing.

[oktana]

You must have a source of income if you must succeed in your holdings.

Holding only works when you have an excess amount of money or have some backup through which you take support and invest some money in Bitcoin.  If a person has $10k and he has no more source of income and he invests all this money in Bitcoin and leaves it on holding but after some time he tends to sell that Bitcoin whether in loss or profits according to the condition of the market at that time and fulfill his need from it.  If he has another source of income like agriculture, or something else, and feeds his family and pays monthly expenses from it this holding will be effective because he has no pressure of anything the food nor the rent and will hold his bitcoin for a time when he is sure that this is the correct time to sell and take the profits from it.

I beg to disagree. Holding can work just fine for anyone. It’s is simple and straightforward when you have a plan. Without a plan, you wouldn’t even know what you are doing. Let’s say you have just $100, if you calculate properly, there may be an amount that you can spare and be sure it wouldn’t get to the point where you need the money (remember, if you calculate well). So, before investing, one should their self, if I invest this amount and I go broke this week/month/year, what is the plan… this way, you’re already preparing for what could happen. So it depends on how you plan and you mustn’t have excess. You could even have excess and still invest wrong in a way you may need to sell your investment.

[AnonBitCoiner]

It is true that if you don't have an alternative source of income, your invested money may not last for more than a few months. Investing in cryptocurrency does not guarantee immediate profits, and it may take a considerable amount of time to earn a profit. If you rely solely on your investment and have no other source of income, you may be forced to use your investment funds to meet your basic needs.

Agree with your declaration some people are just investing money in a coins of Crypto but they don't leave any amount for their continuous occasions therefore when they require any amount for extremety aims then the first thought about money comes in their mind regarding crypto coin investment therefore they takes out the money which they have invested and expanded percentage of their money become lost due to market virtality.

If you don't have income then when ever you needs money for a small things then you will use your invested amount gradually and at last there will be no invested amount therefore it is important that if you don't have any job then leave investment because it will be then full of problems for you. Investment is not necessary if you don't have income first find a job and then invest some amount from your salary because other will not allow money for your investment as well as daily needs because you are responsible person of your family not others.

[Promocodeudo]

You must have a source of income if you must succeed in your holdings.

For the few years I have been into cryptocurrency, I have discovered that you can't hold till the right time if your don't have a source of income. Just imagine that you have a pressing basic needs like feeding or rent, then you don't have money  to finance it, you will be forced to sell your Bitcoin at a loss if you don't have a source of income outside your holdings.

Most people that have sold their Bitcoin holdings at a loss or at an average price actually have the patience but don't have the knowledge of how to hold, because a good holder must be aware that he needs a source of income for him to be able to consolidate to his holdings.

It has happened to me severally, I have been able to hold now, since I started working as a merchandiser with Guinness, I think most times, experience is the best teacher.

OP you are right, it is very difficult for a hodler to successfully hold when he had nothing to support him or herself, that's why am of the opinion that hodling and investment is not for everyone but for the strongest in the business, I won't advise someone who has an investment in bitcoin to continue holding when problem that needs to be solved arise, this is not good, even when you hold two things are bound to happen, is either you profit more or the price of bitcoin shrink, so there is always uncertainty hovering around bitcoin holdings, that's why I said that people should be guided before thinking about holding. 

[barisbilgili]

They say people cannot invest without a realiable source if income. And I firmly believe its true. You cannot successfully hold your coins even for months if your finances is miserable. You need to have at least a good source of income so that your personal expenses will be separate from your investment expenses. And you can still live comfortably even without relying on your investment's future profits.

I'd come to realize that poor people who successfully hold their coins have been struggling a lot to control their expenses. But everything will paid off in time and they'll get to benefit from their long term hodling.

It is true that if you don't have an alternative source of income, your invested money may not last for more than a few months. Investing in cryptocurrency does not guarantee immediate profits, and it may take a considerable amount of time to earn a profit. If you rely solely on your investment and have no other source of income, you may be forced to use your investment funds to meet your basic needs.

If we only have one source of income, of course the investments we make will not last long because we cannot meet the needs we need and when we need these needs we will of course have to take the funds we have invested for those needs.
Yes, it does take a long period of time to be able to gain profits from investing in crypto, so we must have several sources of income to be able to invest in crypto so that the investment we make can achieve the targets we set, because if we only have one source of income, of course this will makes it difficult for us to stick with investments.

[Zanab247]

Not that you will not succeed in your BTC hodling without having other sources of income, but it will not be easy for you to hodl till the price of your choice come for you to sell to make profits but if you have other sources of income when you use to earn money without depending on your BTC investment, you will surely wait for the price of your choice to come to  market huge amount of profits. I was able to Made big profit from my BTC investment last two years when the price of BTC hit $69k because, my salary gave me the boldness by Sustaining me to hodl till the price occur in the market for me to have the opportunity to make a good profits that is giving me joy to always hodl for long before I take profits from BTC investment.

To make your long term hodling easy for you, you need to have a good job or other business when you can be making some little money to sustain yourself until the bull run occur for you to take profits from your investment.

[blockman]

To make your long term hodling easy for you, you need to have a good job or other business when you can be making some little money to sustain yourself until the bull run occur for you to take profits from your investment.

Just another source of income will suffice not to the point of having a really good job, as long as it is paying your bills and attending to your needs that can sustain everything. But it is an advantage when you have it and more if you've got profitable business. That's the ideal situation of an investor for which no need to be worried how he'll be able to survive holding Bitcoin. Because those that have invested without other plans and might just spend it when they are in need, the opportunity is going to be misspent by the time someone has to use it.