How to HODL for long.

[Chiomaobi]

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.

[teamsherry]

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.

[Jaycoinz]

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.

[laijsica]

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.

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.

[Phoenixtrader]

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

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

[Callido]

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.

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.

[Ever-young]

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.

[DubemIfedigbo001]

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.
 

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.

[Chiomaobi]

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.

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.