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

[GIF-JOBS]

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.

They are just trading, when it does not go 10x as expected or the price goes in the opposite direction, they get scared and sell at a loss, they do not have the patience to hold it until it recovers, they think it will go down further, these are just wrong decisions, those who can move forward through long-term planning, patience and discipline, they do not panic at the market fluctuations, but rather they slowly get real success results over time.

[Lolipo]

For me I think the problem Newbies have are poor tutorials about Bitcoins, some person think it's something that you start receiving the interest sharp sharp there investing in what they leave for a long time. I will advice newbies to always seek advice from old hand that have already been in the system, that knows how, when and the amount you can invest as a newbie without looking back. All the same you must discipline yourself to be a good Bitcoin investor, no risk,, no money.

[Tonimez]

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.

They are just trading, when it does not go 10x as expected or the price goes in the opposite direction, they get scared and sell at a loss, they do not have the patience to hold it until it recovers, they think it will go down further, these are just wrong decisions, those who can move forward through long-term planning, patience and discipline, they do not panic at the market fluctuations, but rather they slowly get real success results over time.

It's about understanding that bitcoin does not depend on  investors wishes or FOMO at all time. Some people are too greedy to succeed in bitcoin investment. They want the price to drop when they want to invest and in the next moment they also want the price to go 10x and all they care is their selfish interests even without investing for a long time. As a newbie, you don't have any business with bitcoin trading if you want to last in bitcoin investment. So patience is a virtue and a good tool in a long-term goal because only a patient person who has invested rightly only with discretionary income can successfully hold his bitcoin for at least 4 to 10 years time.

For me I think the problem Newbies have are poor tutorials about Bitcoins, some person think it's something that you start receiving the interest sharp sharp there investing in what they leave for a long time. I will advice newbies to always seek advice from old hand that have already been in the system, that knows how, when and the amount you can invest as a newbie without looking back. All the same you must discipline yourself to be a good Bitcoin investor, no risk,, no money.

For a newbie to gain enough tutorials on bitcoin, he must be willing to take it step by step at all time. Some newbies that joined bitcoin immediately want to envy old investors who have been learning bitcoin for years or months. This is why some of those newbies claim to have learned everything just within days or few months into bitcoin investment. This is why they go into bitcoin trading instead of starting first with a long-term investment. Instead of talking about investing what you can risk which is to bitcoin trading, it is better to invest what you can HODL for a long time which is to bitcoin investment. Bitcoin investment is purely long-term orientated and entirely different from bitcoin gambling.

[Emjay24]

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.

More reason you should only invest from your discretionary income and not money you'll be needing anytime soon. Newbies must stay by identifying that they've discretionary income present before getting involved into Bitcoin so they're not under any form of pressure when needs arise and at a time they've used the money meant for their expenses to invest into Bitcoin. Investing with money rather than your discretionary income is bad for investment and can lead the investor even to loses since Bitcoin might be experiencing a negative price correction at a time your need arises prompting you to sell at a loss.

[Baki202]

For me I think the problem Newbies have are poor tutorials about Bitcoins, some person think it's something that you start receiving the interest sharp sharp there investing in what they leave for a long time. I will advice newbies to always seek advice from old hand that have already been in the system, that knows how, when and the amount you can invest as a newbie without looking back. All the same you must discipline yourself to be a good Bitcoin investor, no risk,, no money.

Problem no be only newbies oh them get people wey them no really wan invest the only thing them they concern about na the money and if them no come see the money the next thing na for them to they sell waiting them they hold already. And for person wey they serious about investing no suppose they sell waiting them they hold since majority now they get emergency funds so that them no go really they spend there asset so if them get idea about bitcoin then they go value the thing and now wey community chock about crypto currency so even if you not get idea you fit join anyone so that the learning go they easy and person fit even get mentor wey go they guide you as newbie.  Except you wan learn the thing your self. Because they get people wey the thing they work for so anyone wey the person wan do. The matter na for the better to decide which one them one do.

[Somto9Light]

LoL this your advice make Alot of Sense sha, but looking at it in other perspective is somehow confusing. You know our Major concern is supposed to be on how we can reach the status of overaccumulation, even though some Investors can decide to set a goal by themselves but this is supposed to be our Major target. Bitcoin Investment is supposed to be make for 4-5 years or even More, so you saying that we should not Invest what we cannot HODL means that we should only Invest for short term frame 2 to 3 months. You seemed to have forgotten that the stash of bitcoin we have in our portfolio will determine how much profit we are going to make in the future, instead of telling newbies not to invest what they cannot HODL teach them about discipline I mean how they can stay focused regardless anything.

[fredericktaylor]

LoL this your advice make Alot of Sense sha, but looking at it in other perspective is somehow confusing. You know our Major concern is supposed to be on how we can reach the status of overaccumulation, even though some Investors can decide to set a goal by themselves but this is supposed to be our Major target. Bitcoin Investment is supposed to be make for 4-5 years or even More, so you saying that we should not Invest what we cannot HODL means that we should only Invest for short term frame 2 to 3 months. You seemed to have forgotten that the stash of bitcoin we have in our portfolio will determine how much profit we are going to make in the future, instead of telling newbies not to invest what they cannot HODL teach them about discipline I mean how they can stay focused regardless anything.

It is not wise to expect profit by investing in Bitcoin in the short term, as this can increase investment risk. A new investor must understand that by managing long-term investment in Bitcoin properly, profit can be expected in the future, and to manage long-term investment properly, it is very important for an investor to have a prudent earning along with a fundamental perspective. In addition to managing long-term investment in Bitcoin, it is good to have an emergency fund for three months because we do not know anything specific about the unknown dangers of the future, so it is better to have a emergency fund so that we do not have to stop long-term investment. By managing long-term investment properly with patience, investment risk can be reduced and long-term profit can be expected.

[icebar]

Bitcoin prices can suddenly pump and rapidly dump, so those who invest should definitely plan for the long term. Generally, when investing in Bitcoin, you should only use the money you can afford to lose so that you don't panic and try to sell it when the price drops. There are many investors who, if the price drops slightly, try to sell the Bitcoins under their control and later face losses. If the investment cannot be made for the long term, then keeping that investment will increase the possibility of loss. Therefore, before investing, you should definitely consider your own financial situation and invest in Bitcoin only if it is possible to hold it for the long term.

[Rhow]

Bitcoin prices can suddenly pump and rapidly dump, so those who invest should definitely plan for the long term. Generally, when investing in Bitcoin, you should only use the money you can afford to lose so that you don't panic and try to sell it when the price drops. There are many investors who, if the price drops slightly, try to sell the Bitcoins under their control and later face losses. If the investment cannot be made for the long term, then keeping that investment will increase the possibility of loss. Therefore, before investing, you should definitely consider your own financial situation and invest in Bitcoin only if it is possible to hold it for the long term.

I completely agree with you. If you cannot invest in Bitcoin for the long term, then you should not invest.
Because, the price of Bitcoin is never stable. If you invest in the short term, when the price drops, you get scared and withdraw the invested money, due to which they lose money again and again. To me, such investors seem to be traders.

I have seen the losses of short term investments. My neighbor was a trader. He was a successful trader. But one day he suffered a very big loss. When I asked him later, it was revealed that he had invested in Bitcoin for the short term. He waited for a long time the price of Bitcoin to drop. Then, seeing the market fall, he invested aggressively. But the market went deeper. Seeing that falling market, he was very scared. And he lost his confidence in Bitcoin. He thought that Bitcoin would never reach its previous level. So he withdrew the rest of his investment. But within a few days, Bitcoin returned to a new price. Seeing this, my neighbor was very surprised. And he suffered a huge loss.

Seeing him, I also felt that we should not invest in Bitcoin . But now I understand that we should not invest in Bitcoin for the short term. So, if we understand our financial situation and invest slowly and take time to build a portfolio, then we will definitely be able to make a profit.

[laijsica]

Bitcoin prices can suddenly pump and rapidly dump, so those who invest should definitely plan for the long term. Generally, when investing in Bitcoin, you should only use the money you can afford to lose so that you don't panic and try to sell it when the price drops. There are many investors who, if the price drops slightly, try to sell the Bitcoins under their control and later face losses. If the investment cannot be made for the long term, then keeping that investment will increase the possibility of loss. Therefore, before investing, you should definitely consider your own financial situation and invest in Bitcoin only if it is possible to hold it for the long term.

DCA strategy can benefit you greatly so that you do not stop investing in Bitcoin in this price volatility. A consistent accumulation strategy through discretionary income. The fear of losing valuable invested capital can make you anxious or it can be very difficult to choose the right time to buy. To avoid these investment volatility, long term Bitcoin in the DCA strategy can be an effective direction for you. People who are tempted to withdraw Bitcoin during price drops are mainly short term traders. They miss out on huge opportunities for small profits. It goes without saying that long term Bitcoin holdings reduce the UP in the portfolio.

Do not be afraid of rapid declines or increases in price. It would be wise to stick to long term investments by considering financial capabilities rather than being emotional about Bitcoin accumulation.

[Tonimez]

~

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.

Bitcoin investment is not a do or die affair and no one can compile anybody into bitcoin investment, same way no body has the right to tell anybody what to do with his money. There are many strategies to bitcoin investment of which it is liberal to everyone. As a true newbie, you're a naive person and also a near novice in bitcoin investment. It is not like anyone is ruling over you as regards what you do with your wealth or money, but we're all here to help eachother to curtail the rate at which people loose money in bitcoin due to bitcoin gambling.

As a newbie, who is willing to get into bitcoin investment, it is best to analyse your income and maintain a balanced cashflow management. When you have singled out your discretionary income (Money which you won't need or has less care about) you would be assured that you can invest in bitcoin. Now in order not to start from your early days in bitcoin to loose money due to inexperience, it is better to avoid greed and invest the amount you feel you can forget in bitcoin. This allows you to have time to learn more about bitcoin and it's chart. Whenever you feel you now understand bitcoin, you have the right to risk whatever amounts you choose to risk in bitcoin gambling.

One thing we try to avoid at the early stages is to avoid the discouragements that comes when a newbie jumps into bitcoin trading and starts loosing money due to inexperience. Investing what you can hold would allow you to learn about bitcoin over time while also investing in bitcoin. This is because bitcoin is a large entity that you won't wait to understand completely before making your initial investment. When you invest with the intention of holding for a long period of time, then you won't be forced panic sell his bitcoin when Market Volatility sets in.

Bitcoin prices can suddenly pump and rapidly dump, so those who invest should definitely plan for the long term. Generally, when investing in Bitcoin, you should only use the money you can afford to lose so that you don't panic and try to sell it when the price drops. There are many investors who, if the price drops slightly, try to sell the Bitcoins under their control and later face losses. If the investment cannot be made for the long term, then keeping that investment will increase the possibility of loss. Therefore, before investing, you should definitely consider your own financial situation and invest in Bitcoin only if it is possible to hold it for the long term.

DCA strategy can benefit you greatly so that you do not stop investing in Bitcoin in this price volatility. A consistent accumulation strategy through discretionary income. The fear of losing valuable invested capital can make you anxious or it can be very difficult to choose the right time to buy. To avoid these investment volatility, long term Bitcoin in the DCA strategy can be an effective direction for you. People who are tempted to withdraw Bitcoin during price drops are mainly short term traders. They miss out on huge opportunities for small profits. It goes without saying that long term Bitcoin holdings reduce the UP in the portfolio.

Do not be afraid of rapid declines or increases in price. It would be wise to stick to long term investments by considering financial capabilities rather than being emotional about Bitcoin accumulation.

Sometimes people are trapped in the concept of FOMO and then miss the real opportunity. DCA strategy is an investor-friendly strategy that allows you buy through tick and thins, through highs and lows without focus on bitcoin price. Panic selling and bitcoin gambling can make a person loose what he never planned to loose. Early losses in bitcoin can make a newbie shy away from investing in bitcoin till forever. But an initial calculated investment using a discretionary income with intention to hold through one or two bitcoin cycles at least 4 to 10 years; would help you get along with bitcoin without loosing your money when you are not able to bear the loss.

The problem is that most newbies want to play as professionals, trying out everything without knowing what they're doing. Bitcoin gambling is not for the weak and whoever wants to go into it should understand the pros and cons before doing that.

[Iroh]

For me I think the problem Newbies have are poor tutorials about Bitcoins, some person think it's something that you start receiving the interest sharp sharp there investing in what they leave for a long time. I will advice newbies to always seek advice from old hand that have already been in the system, that knows how, when and the amount you can invest as a newbie without looking back. All the same you must discipline yourself to be a good Bitcoin investor, no risk,, no money.

Yeah, perhaps poor tutorials as well as misinformation have caused newbies to be misled into thinking investing in bitcoin would bring about some extremely profitable returns in a very short time. With that mindset, we'll have lots of people putting in more than what they can afford to invest at that point hoping for some quick profits in very little time.
A lot of newbies hear crypto currency and think it's just bitcoin. They may get misled into putting their money into alt coins believing it to be bitcoin. After losing their funds and sadly still in their ignorance, they'll have wrong notions about bitcoin and crypto currencies in general.

[Scarlett_23]

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.

After meeting the basic needs of daily life and handling emergencies, if a person has some money that will not hinder his life if invested for a long time, that person is suitable for investing in Bitcoin for a long time. One should never invest money here that will cause a lot of loss if lost.

Therefore, one should refrain from investing in Bitcoin in a hurry by taking loans. Why not, there is mental pressure to repay the borrowed money quickly.

Instead of thinking of it as a tool to get rich, a new investor must have consistent and long-term goals.

[GIF-JOBS]

For me I think the problem Newbies have are poor tutorials about Bitcoins, some person think it's something that you start receiving the interest sharp sharp there investing in what they leave for a long time. I will advice newbies to always seek advice from old hand that have already been in the system, that knows how, when and the amount you can invest as a newbie without looking back. All the same you must discipline yourself to be a good Bitcoin investor, no risk,, no money.

Yeah, perhaps poor tutorials as well as misinformation have caused newbies to be misled into thinking investing in bitcoin would bring about some extremely profitable returns in a very short time. With that mindset, we'll have lots of people putting in more than what they can afford to invest at that point hoping for some quick profits in very little time.
A lot of newbies hear crypto currency and think it's just bitcoin. They may get misled into putting their money into alt coins believing it to be bitcoin. After losing their funds and sadly still in their ignorance, they'll have wrong notions about bitcoin and crypto currencies in general.

And this is why it is always necessary to maintain the right idea and mindset about Bitcoin, Bitcoin is not a get rich quick scheme, investing here will not make you rich overnight, and other coins are not like Bitcoin, so if you are investing in other altcoins or meme coins to suddenly become a millionaire, then you are only losing your money because other coins will never be successful like Bitcoin. You need to understand Bitcoin, you need to gain proper knowledge about where the real potential is, this is a long-term process, so you have to move forward with patience, if you hold Bitcoin for a long time, it will keep bringing you good things over time, Bitcoin will never make you profitable in the short term, rather it will show a lot of volatility in the short term, but you must ignore these volatility and maintain a long-term mindset.

[Cgrexp]

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.

I agree with you that new investors must have a proper plan for their money before entering into investment. It is important for every investor to have an emergency fund ready. There are many investors who do not have an emergency fund ready, due to which they are forced to withdraw from long-term investments due to unforeseen circumstances. I always say that beginners should start with a small amount in the DCA method. And of course they should have a plan for basic expenses and emergency funds. Because otherwise they may be forced to sell in unexpected situations which is often a wrong decision. So beginners should proceed slowly. With proper preparation and patience, consistent investment becomes a strong and profitable asset in the long run.

[Tonimez]

[Edited out]

And this is why it is always necessary to maintain the right idea and mindset about Bitcoin, Bitcoin is not a get rich quick scheme, investing here will not make you rich overnight, and other coins are not like Bitcoin, so if you are investing in other altcoins or meme coins to suddenly become a millionaire, then you are only losing your money because other coins will never be successful like Bitcoin. You need to understand Bitcoin, you need to gain proper knowledge about where the real potential is, this is a long-term process, so you have to move forward with patience, if you hold Bitcoin for a long time, it will keep bringing you good things over time, Bitcoin will never make you profitable in the short term, rather it will show a lot of volatility in the short term, but you must ignore these volatility and maintain a long-term mindset.

People need to minimise anxiety and need to get rich quick at all time because that's the major set back greater percentage of humans have in their various endeavours. This is the same way many crypto enthusiasts got involved in shitcoins and meme coins leading to the loss of their hard earned money. Sometimes newbies see 4 to 10 years of bitcoin holding as too long a time which is not true. The more you refuse to exercise patience and hold your bitcoin stash while you keep learning bitcoin to understand it well before trying out new things, you may never get success in bitcoin.

That's why who you learned about bitcoin from also matters. When a newbie learns about bitcoin under an investor, he tends to have more patience to HODL than a newbie who has been introduced by a bitcoin trader. Such newbies hardly lasts in bitcoin because they started the wrong way, once they record series of losses, they flee and never return back to anything concerning bitcoin.

[Adams0001]

Bitcoin prices can suddenly pump and rapidly dump, so those who invest should definitely plan for the long term. Generally, when investing in Bitcoin, you should only use the money you can afford to lose so that you don't panic and try to sell it when the price drops. There are many investors who, if the price drops slightly, try to sell the Bitcoins under their control and later face losses. If the investment cannot be made for the long term, then keeping that investment will increase the possibility of loss. Therefore, before investing, you should definitely consider your own financial situation and invest in Bitcoin only if it is possible to hold it for the long term.

Sure, if you have understood bitcoin very well and get the Knowledge about it you should always put in mind that is a long term investment you can't invest short term in bitcoin and expect huge returns that can't be easily possible. Because is not like other coins that pump deeply in short term when you have the luck, because coins that pump deeply in short term they usually fail easily and won't have value like the way they lunch it. Bitcoin is very easy to understand just to follow the steps on how to invest and set your target and just wait for your profit for the long term and focus on another thing and you need to be patient enough and wait for the profit that is why is good to have other things doing, so that he won't affect your bitcoin investment. Everyone that get the Knowledge about bitcoin knows that is volatile and if you didn't have patience and invest for the long period of time he will always find it difficult to succeed in it.

[HistoLock]

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.

To trade, you have to shake off emotions and be patient. Those who are new cannot be patient or do not trade the money they lose, rather they trade the money they need, therefore they cannot hold on for long and face losses. The main reason for this is that they do not understand how they will manage the investment, it is risky but it requires strict commitment to do so. The main reason why newbies fail is that they sell at a low price when they need the money, they do not wait for a high price. So I would say trading is not for everyone.

[Out of mind]

New people need good advice and experience in investing and trading. Trading and investing can always be risky for newbies, so they need to learn first and then start with a small amount of money. Those who are new to crypto always think that if they invest here, they will make a profit, but they forget that they will have to face volatility which can lead them to losses. That is why new people need to know first how to improve their skills and experience in investing and trading and then invest. However, one should never invest for a short period of time, but it is better for newbies to invest for a long period of time. I would say that new people should learn first and then invest, it will be profitable for them, the investment should be for a long period of time which will reduce the risk of loss.

[Glowy]

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.

This is a valued suggestion made here, however I think it will be awesome if some other assets that can be traded short term can be suggested too. This can help a new hodl BTC while business of trading goes on too