How to HODL for long.

[Smilevictorobinna]

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.




 

[Amphenomenon]

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

[Kelward]

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.

[Stable090]

Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I hard 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.

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.

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.

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.

Emergency funds:
Before going into long-term bitcoin investment you need to save for emergencies.

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.

[Belarge]

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

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.

[Dzwaafu11]

Bitcoin journey is the best journey of my life, when I knew about Bitcoin I wanted to invest on it but I hard 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.

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.

[EL MOHA]

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.

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.

[AVE5]

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.

[Zackz5000]

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.

[Promocodeudo]

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.

[Abbatty]

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.

[Frankolala]

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.

[Zanab247]

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.

[I_Anime]

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.

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.
.

[Samlucky O]

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.

[Perfectbaby]

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.

[EluguHcman]

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 .

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.

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.

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

[Fiasem20]

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.

[Mr.suevie]

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

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.

[RockBell]

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.

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.