As a newbie, don't invest what you cannot HODL for long-term

[SOKO-DEKE]

One of the reasons why most newbies fail in their Bitcoin investment is because they often invest money they can't afford to lose or also invest money that they may likely need in the near future. Doing this can easily lead to them selling their Bitcoin at the wrong time.if the Bitcoin market doesn't move in their favor and the time comes when they need the money, they are left with no option but to sell. This can result in them selling their Bitcoin at a loss possibly even lower than the price they bought it for So, it's better for anyone to invest only money that they can afford to lose and that won’t lead them to sell their Bitcoin prematurely.

[MainIbem]

One of the reasons why most newbies fail in their Bitcoin investment is because they often invest money they can't afford to lose or also invest money that they may likely need in the near future. Doing this can easily lead to them selling their Bitcoin at the wrong time.if the Bitcoin market doesn't move in their favor and the time comes when they need the money, they are left with no option but to sell. This can result in them selling their Bitcoin at a loss possibly even lower than the price they bought it for So, it's better for anyone to invest only money that they can afford to lose and that won’t lead them to sell their Bitcoin prematurely.

Some people don't really understand what Bitcoin investment is all about before going into it, they feel it would make them very rich quick not knowing that they'll have to be very patient for a longer period before they can profit from Bitcoin investment. Also, they don't actually know the actual money they'll use for investment that's they invest the money they'll use in the near future not knowing that they needed to separate their discretionary from their income and use for investment, if you'll think about it you'll understand that it's lack of understanding that make them investment in bitcoin wrongly.

[Pablo-wood]

Crypto has different aspects, you can go into trading and you can choose to invest and hodl, not everyone is interested in investing thats the reason why they prefer to trade. If you decide to focus on investments then you should be ready to hodl for a long time. A lot of people lack patience and this is something that you need when it comes to investing, short term investment works mostly with trading

Trading isn't easy either. With all the emotional dramas and price volatility do we think newbies who aren't patient enough to hodl for long will do better in trading. Both requires discipline, dedication and commitment, besides most times the motivation to hodl could be lacking. I think intending investors should do their risk management and financial analysis properly before taking a decision either to hodl or trade.

[yixichloro2xx]

One of the reasons why most newbies fail in their Bitcoin investment is because they often invest money they can't afford to lose or also invest money that they may likely need in the near future. Doing this can easily lead to them selling their Bitcoin at the wrong time.if the Bitcoin market doesn't move in their favor and the time comes when they need the money, they are left with no option but to sell. This can result in them selling their Bitcoin at a loss possibly even lower than the price they bought it for So, it's better for anyone to invest only money that they can afford to lose and that won’t lead them to sell their Bitcoin prematurely.

Because selling under pressure usually destroys the whole purpose of long term Bitcoin investment, the real foundation is not just buying but making sure the money is truly free from future demands. If someone invests with funds they will soon need, they are not really stacking, they are only parking money temporarily in a volatile asset, and that mindset almost always ends badly. The safer path is to separate survival money from investment money completely, so that whatever is put into Bitcoin has the chance to mature over years without being disturbed. That is what turns a simple buy into a long term position.

[Tonimez]

As a newbie to bitcoin investment it is very important to invest only what you can be able to HODL for a long-term of at least 4 to 10 years period. This implies that a newbie has to invest the fraction of his income which he practically doesn't have any need of it at the moment. This money is usually referred to as your discretionary income. Bitcoin investment should be strictly done with a discretionary income which will allow you not to worry too much about the bitcoin price at anytime so that you can continue to buy gradually without thinking about selling your bitcoin.

Some of the newbies use to be faster than their shadow and they will want to have the same amount of bitcoin with somebody who has been in bitcoin investment very long time before them. This is why they go to the extent of investing with all their money without keeping some money to take care of their responsibilities. Your financial management is very important because if you don't manage your finances very well by taking care of all your basic responsibilities before investing in bitcoin, you may end up selling your bitcoin stash very soon to use and save yourself from doom.

Finally, as a newbie always make sure that you make provision for back up funds and emergency funds each time you get your income before investing in bitcoin. This will help to keep your mind away from always thinking about selling your bitcoin. Backup funds will help you to take care of some price changes that may occur in some commodities which you may need before your next salary. Let's say that in your basic responsibilities, you provided for half bag of rice for the month and you budgeted #25k and on reaching the store, you then discover that half bag is now #28k, instead of going to sell part of your bitcoin, it is your backup funds that you will use to compensate for the #3k that you didn't budget for. Also, Emergency funds will help you to take care of unforeseen circumstances that may happen during the period you are waiting for your next salary which could be natural disasters or health issues. Instead of going to sell your bitcoin, you will use that money which you called the emergency funds to take care of it. By so doing, your bitcoin will be safer and you can HODL for a very long time which will help you to make the best profit from bitcoin so that you will not loose your money.

It's true newbies should only invest discretionary income in BTC. If it’s rent or food money, forget it. But telling them “HODL 4–10 years” is too rigid, not everyone can freeze money that long, Sometimes selling a small piece makes sense — profit-taking or covering a real need isn’t failure. Having a backup/emergency funds is ok, But if you over-prioritize them, you risk missing big BTC upside.  Not all newbies have “extra” income. Flexibility matters more than strict rules. HODL works best with strategy, not stubbornness. Bitcoin is a tool, not a prison. Patience wins, but adaptability keeps you in the game.

There's nothing strict about holding for 4 to 10 years except you have decided to be a bitcoin trader of which the risk is high. As a newbie, you can't risk it from the beginning by engaging in trading. You have not learned how bitcoin works as a newbie and you are already beginning to trade. The best thing is to invest hoping for a long-term holding initially. This will give you time to go through the various stages of bitcoin investment and learn by yourself. By so doing, you can be able to study the charts and understand when to buy or sell when you finally get into trading. But investing for a long-term is less risky and stress-free. When you hold for 4 to 10 years time, you will be able to hold through at least one bitcoin cycle. After each cycle, bitcoin tends to increase in price making a sustainable price rice from the initial starting price. When you invest with only your discretionary income, you can hold longer because you don't need the money anytime soon.

One of the reasons why most newbies fail in their Bitcoin investment is because they often invest money they can't afford to lose or also invest money that they may likely need in the near future. Doing this can easily lead to them selling their Bitcoin at the wrong time.if the Bitcoin market doesn't move in their favor and the time comes when they need the money, they are left with no option but to sell. This can result in them selling their Bitcoin at a loss possibly even lower than the price they bought it for So, it's better for anyone to invest only money that they can afford to lose and that won’t lead them to sell their Bitcoin prematurely.

Because selling under pressure usually destroys the whole purpose of long term Bitcoin investment, the real foundation is not just buying but making sure the money is truly free from future demands. If someone invests with funds they will soon need, they are not really stacking, they are only parking money temporarily in a volatile asset, and that mindset almost always ends badly. The safer path is to separate survival money from investment money completely, so that whatever is put into Bitcoin has the chance to mature over years without being disturbed. That is what turns a simple buy into a long term position.

You're very right. Investing your survival money or investing when you have not taken care of your basic responsibilities is risky because bitcoin is volatile. You may need the money urgently and would be forced to sell at loss. This is not a good idea as you will not be happy at last and may even leave bitcoin investment completely due to your loss. Discretionary income is that income left after taking care of all your basic responsibilities. Any investment made with such money would be easier to ignore for long.

[Localhostspeed]

Op, you have highlighted a good points on this thread, as a newbie the most crucial thing you should put In your mind is invest what you can afford to lose before holding for long-term investment, when you invest within these 4,5 to 10 years or more you have to make sure that all your financial responsibilities and other expenses are being settled, maintaining your backup plans and emergency funds are also important,because when you have a backup funds it would help you tackle some unexpected price increasment, the same to emergency funds which also help you handle some accidental expenses without forcing yourself to sell off your bitcoin investment, however, when all these key points are being maitained as a newbie it will enable you to hold your bitcoin for long-term investment.

What I don't like with some of these crypto influencers be say, they dem give information about coins that gave them money and how it changed their life but you no go ever hear from them say see wetin dem go through to get that money. There is no shortcut to this thing call profits in crypto, you have to be ready to do anything to make that money. Some people even shill their bags just to make money from their coins.

[Mr_Brilliant$]

Na true talk, because once you put money wey you no fit leave for long inside Bitcoin, you go just dey rush back to check wallet every time. But that one no be the real essence of Bitcoin investment at all…

Funny enough, many of us don fall for this mistake when we first start Bitcoin journey….  Me self don do am before, I carry money wey I suppose use for other things within some weeks, throw am inside Bitcoin..  As e happen, Bitcoin come begin retrace, omo I wan cry. At the end, I sha comot the money with small loss…

So my honest advice be say, as a new investor, you gats put this thing for mind early… If not, you fit easily fall hand for the same trap…

[Mehmet69]

Na true talk, because once you put money wey you no fit leave for long inside Bitcoin, you go just dey rush back to check wallet every time. But that one no be the real essence of Bitcoin investment at all…

Funny enough, many of us don fall for this mistake when we first start Bitcoin journey….  Me self don do am before, I carry money wey I suppose use for other things within some weeks, throw am inside Bitcoin..  As e happen, Bitcoin come begin retrace, omo I wan cry. At the end, I sha comot the money with small loss…

So my honest advice be say, as a new investor, you gats put this thing for mind early… If not, you fit easily fall hand for the same trap…

People are afraid to start investing because they have little idea about Bitcoin. But when someone starts a new investment, they start investing aggressively without thinking about the ups and downs of the future. Later, when they start facing one problem after another, they realize that in order to invest continuously, they need to have sufficient knowledge about some other things besides their money. We need to have a good understanding of some things.

First, when starting investment, we need to invest using the amount of money that we can afford to lose. That is, we need to start investing with the amount of money that is left after meeting our family needs.
Second, we need financial support in case of sudden or urgent needs. So we need to create some funds with our investments. Notable among these are emergency funds, reserve funds, backup funds. Having funds means that we do not have to sell our investments due to any minor problems. As a result, it becomes easier to hold on to the investment in the long term.

There are some other measures to make Bitcoin investment easier. But I do not think that keeping all these measures is necessary for everyone. The bottom line is that we need to do what we can to sustain our investment in Bitcoin in the long term.

[Agbamoni]

OP investing for long term or short term is a personal decision. Before starting an investment, you should be aware of what you want to achieve with the investment. Most investors you see holding for long term are people who give a 10 years period, also people who plan on retiring through investment. This means, you can invest in Bitcoin even if you dont have the intention of holding for long-term.

[Iroh]

What I don't like with some of these crypto influencers be say, they dem give information about coins that gave them money and how it changed their life but you no go ever hear from them say see wetin dem go through to get that money. There is no shortcut to this thing call profits in crypto, you have to be ready to do anything to make that money. Some people even shill their bags just to make money from their coins.

A lot of these crypto influencers do get paid to talk about some shit coin and try to market it to their listeners and people who follow them on social media. They'll say just about anything to sell the shitcoin to their audience.
Lots of times, the influencer themselves may have stakes in the altcoin project, so you see them going all out in promoting the coin as the more people he gets to invest in the coin, the more money that goes in his pocket when they ultimately rug pull ripping off everyone who invested in it because an influencer told them it was the next big thing.

[Derekfunds]

OP investing for long term or short term is a personal decision. Before starting an investment, you should be aware of what you want to achieve with the investment. Most investors you see holding for long term are people who give a 10 years period, also people who plan on retiring through investment. This means, you can invest in Bitcoin even if you dont have the intention of holding for long-term.

You are right but Investing in Bitcoin without an intention to hold for long term automatically means you are in for trading Bitcoin which is very risky because the price of Bitcoin can  dip far below the point you entered and in this case it means you are already at loss and since you don't have an intention to hold for long term, you may be tempted to sell at loss because Bitcoin doesn't just fall and rise immediately it always take its time to rise back. That is why trading Bitcoin is not actually good but if you are holding for long term you won't bother yourself about the price because you are convince it will definitely come up again.

[Agbamoni]

You are right but Investing in Bitcoin without an intention to hold for long term automatically means you are in for trading Bitcoin which is very risky because the price of Bitcoin can  dip far below the point you entered and in this case it means you are already at loss and since you don't have an intention to hold for long term, you may be tempted to sell at loss because Bitcoin doesn't just fall and rise immediately it always take its time to rise back. That is why trading Bitcoin is not actually good but if you are holding for long term you won't bother yourself about the price because you are convince it will definitely come up again.

4 years is enough to hold as short term investment. I wont agree with you because only when you time the market then you are trading. There are sort term holders and long term holders. The only benefit of holding for long term is because the return of investment is higher when compared to that you will receive when you hold for a short term. People get lucky to hold for 1 year or two years and they get good profit if Bitcoin rises.

[DaNNy001]

As a newbie, know the aspects of crypto before diving into it...There's trading and hodling, if you are the type that can really invest and hodl for a long time then you should consider going into trading...if you are thinking of investing in Bitcoin then be ready to hodl for a long time but if you decide to trade Bitcoin then you can do a day trade, all you have to do is find out what works for you and what you are interested in

[Odusko]

You are notnfar from then truth of the reality with many newbies and even established old members, they go about opening trade positions or buying a coin that their dont have long term plans of holding and expecting the coin to do 10x if that doesn't happen and the price goes against their predictions, they quickly panic to sell at a lost.

[programmer3666]

One of the reasons why most newbies fail in their Bitcoin investment is because they often invest money they can't afford to lose or also invest money that they may likely need in the near future. Doing this can easily lead to them selling their Bitcoin at the wrong time.if the Bitcoin market doesn't move in their favor and the time comes when they need the money, they are left with no option but to sell. This can result in them selling their Bitcoin at a loss possibly even lower than the price they bought it for So, it's better for anyone to invest only money that they can afford to lose and that won’t lead them to sell their Bitcoin prematurely.

Some people don't really understand what Bitcoin investment is all about before going into it, they feel it would make them very rich quick not knowing that they'll have to be very patient for a longer period before they can profit from Bitcoin investment. Also, they don't actually know the actual money they'll use for investment that's they invest the money they'll use in the near future not knowing that they needed to separate their discretionary from their income and use for investment, if you'll think about it you'll understand that it's lack of understanding that make them investment in bitcoin wrongly.

many new investors just jump into Bitcoin like frog without a clear plan and that is why they end up selling too soon or at a loss almost all the time. like seriously bitcoin is not a quick way to get rich!! it takes time and patience i mean the crypto ecosystem was not created in a day, it took time. if you invest money meant for daily needs or emergencies, you will surely be forced to sell when the price is lowi believe me. the best thing is to keep investment money separate from living money and only use what you can hold for a long time without worries. at least that way even if the price goes down, you will not panic because you don’t need the money right away.

[Mr_Brilliant$]

Na true talk, because once you put money wey you no fit leave for long inside Bitcoin, you go just dey rush back to check wallet every time. But that one no be the real essence of Bitcoin investment at all…

Funny enough, many of us don fall for this mistake when we first start Bitcoin journey….  Me self don do am before, I carry money wey I suppose use for other things within some weeks, throw am inside Bitcoin..  As e happen, Bitcoin come begin retrace, omo I wan cry. At the end, I sha comot the money with small loss…

So my honest advice be say, as a new investor, you gats put this thing for mind early… If not, you fit easily fall hand for the same trap…

People are afraid to start investing because they have little idea about Bitcoin. But when someone starts a new investment, they start investing aggressively without thinking about the ups and downs of the future. Later, when they start facing one problem after another, they realize that in order to invest continuously, they need to have sufficient knowledge about some other things besides their money. We need to have a good understanding of some things.

First, when starting investment, we need to invest using the amount of money that we can afford to lose. That is, we need to start investing with the amount of money that is left after meeting our family needs.
Second, we need financial support in case of sudden or urgent needs. So we need to create some funds with our investments. Notable among these are emergency funds, reserve funds, backup funds. Having funds means that we do not have to sell our investments due to any minor problems. As a result, it becomes easier to hold on to the investment in the long term.

There are some other measures to make Bitcoin investment easier. But I do not think that keeping all these measures is necessary for everyone. The bottom line is that we need to do what we can to sustain our investment in Bitcoin in the long term.

Yes, people dey fear start Bitcoin because dem no too sabi how e dey work, but funny enough, once dem summon courage enter, na so dem go just dey rush buy anyhow without planning..  True true, when wahala begin show like urgent bill, emergency or even small market dip, dem go realize say na mistake dem do from the beginning. And like you talk, if person no separate him investment money from daily or family money, e go hard to hold strong when pressure come…

The thing be say, Bitcoin no be short cut to quick cash, na long term play. If you no get emergency fund, backup fund or small reserve aside, you go always dey tempted to rush sell your Bitcoin for small problem… And that one dey scatter plenty people journey, because na the panic sell dey cause loss pass…

So as far as I see am, the key na balance, use only money wey you fit lock up for long, build small small knowledge as you dey go, and keep your mind steady…

[MainIbem]

As a newbie, know the aspects of crypto before diving into it...There's trading and hodling, if you are the type that can really invest and hodl for a long time then you should consider going into trading...if you are thinking of investing in Bitcoin then be ready to hodl for a long time but if you decide to trade Bitcoin then you can do a day trade, all you have to do is find out what works for you and what you are interested in

Hodling Bitcoin and Trading is not for everyone, those who don't have Patience got nothing to do with Bitcoin while those who ain't good in analysing the market and have the willpower for risk taking got nothing to do with trading. Well everyone should have their own preferences but i won't advice anyone to follow the more risky path, trading is more riskier compared to Bitcoin holding, many folks have profited lots through Bitcoin by just holding it for years but not many traders have made wealth doing it, they even panic when the market is down but a true investor doesn't need to do so.

[Proty]

As a newbie, know the aspects of crypto before diving into it...There's trading and hodling, if you are the type that can really invest and hodl for a long time then you should consider going into trading...if you are thinking of investing in Bitcoin then be ready to hodl for a long time but if you decide to trade Bitcoin then you can do a day trade, all you have to do is find out what works for you and what you are interested in

Hodling Bitcoin and Trading is not for everyone, those who don't have Patience got nothing to do with Bitcoin while those who ain't good in analysing the market and have the willpower for risk taking got nothing to do with trading. Well everyone should have their own preferences but i won't advice anyone to follow the more risky path, trading is more riskier compared to Bitcoin holding, many folks have profited lots through Bitcoin by just holding it for years but not many traders have made wealth doing it, they even panic when the market is down but a true investor doesn't need to do so.

Yes patience is a key factor for holding bitcoin for a long time and this is also is one thing that characterise a long term investors. Having a high risk tolerance is also important for holding bitcoin for a long term.on that note not everybody can be able to hold bitcoin for a long term. There are people who are good in speculation and they may be good in trading. Also there are people who has built a good portfolio in bitcoin, who are long term holders and also traders. However for a newbie going into trading is very risky but rather there focus should be on long term holding of bitcoin.

[Rockson1]

As a newbie, know the aspects of crypto before diving into it...There's trading and hodling, if you are the type that can really invest and hodl for a long time then you should consider going into trading...if you are thinking of investing in Bitcoin then be ready to hodl for a long time but if you decide to trade Bitcoin then you can do a day trade, all you have to do is find out what works for you and what you are interested in

Dude in as much as I know that this is your opinion and advise, I think newbies should not have anything to do with trading at first, bitcoin investment for a long-term gives newbies heads up on how to navigate through the entire system to understand how to go about the whole thing, trading is very complex so newbies shouldn't just go in for that, am not in the position to make decisions for anyone but if am been allowed to give my opinion, i will say it is better for newbies to stick the investment part of bitcoin because must of this newbies can't handle loss, infact it might the end of the road for any of them if they eventually lose while trading because of their mindset, I agree that everyone should figure out the section they can be part of and adapt to it, everyone can adapt to the investment part which is the reason I feel that newbies should start with that, that's my opinion.

[Tungbulu]

What I don't like with some of these crypto influencers be say, they dem give information about coins that gave them money and how it changed their life but you no go ever hear from them say see wetin dem go through to get that money. There is no shortcut to this thing call profits in crypto, you have to be ready to do anything to make that money. Some people even shill their bags just to make money from their coins.

For me, the last people I go consider as reliable source of information na influencers, because na them Dey hype pass, I mean that’s what they are paid to do and they gotta do so well that people will believe them and go for the token they’re hyping or promoting. And when you depend solely on the hypes of these influencers, without conducting your own research, you could end up making a financial mistake that you’ll probably regret.