Keys to be successful in Bitcoin

[Bigjoe33]

Before one embark on any investment,such person must have studied and get acquainted with all relevant information as regards to the investment he or she want to take.so in Bitcoin, before investing it  you must understand how it works and everything about it,how it behaves sometimes such as it's high volitality and rest so that you will be able the cope during these period to avoid fear or panic sales.you must also understand that Bitcoins are long time investment if you must make it don't rush to sell no matter the turnaround of events.

Of course, pre-knowledge about a thing is important before starting, and one must look out for some before embarking on it. For an asset like bitcoin, that involves high level of volatility, one might not really study everything before getting started, because the real knowledge about the investment might gotten better as first hand experience while already in the accumulation business. So few things should just be very important before getting started, such as the knowledge that it is highly volatile, that is upwards and downwards movement in market price, knowing the different strategies of accumulating Bitcoin and the best to use as a begginer and as you continue investing, knowing the right funds to be used to invest and keeping it ready. If all this few things are all active in your brain, then one can start and other market knowledge and navigation can really come in while already accumulating.

[Dr.Bitcoin_Strange]

You need a grounded knowledge about Bitcoin to become successful, that's what I believe because I know I had opportunity to invest in Bitcoin earlier than I did but I never had a knowledge about it meanwhile I have already heard of it then, I just didn't know it's something that was worth investing on. The mistake I made then was to invest my money into something that later crashed. If I had the right knowledge about Bitcoin investment, I would have been hold more Bitcoin than I'm today.

[Razmirraz]

I cannot deny that focus, consistency, and skill are the keys to success in the Bitcoin field. You must also have a big heart and not be jealous of the success achieved by others because these traits will only hinder your progress in achieving success. You should also not ignore patience because it is also part of the key to success in Bitcoin investment, there are still many investors out there who make hasty decisions because they are based on emotions that want to get rich quickly so they make wrong decisions when the market fluctuates.
When you are able to control your emotions and increase your patience in investing, it will be easier to create a clear investment plan, invest regularly without paying attention to market fluctuations and not worry too much when the traded value in the market suddenly drops or not check the Bitcoin price too often because it can encourage making hasty decisions based on emotions.

[Numeral]

These rather general points were noted in the initial post. Due to their universality, they can be applied to many entrepreneurial and investment activities. However, it is difficult to argue that they are not suitable.

Regarding envy, I would like to note that this trait generally interferes significantly with life in general, so try to eliminate it as quickly as possible. Getting rid of it, even outside of any specific activity, will simply make life easier and less stressful. Focus can also be evaluated in different ways. nowadays, our world has become so multifaceted that it is necessary to focus on not just one direction, but several at once. However, this does not mean that you need to keep track of a whole bunch of different assets, but at least it is worth keeping an eye on the top investment instruments, because there is another rule that goes, "Don't put all your eggs in one basket." Experienced investors usually adhere to this rule, which in practice is called diversification.

[Mahiyammahi]

You have raised a good point. I would like to add another thing patience. The thought of suddenly becoming rich in Bitcoin leads many people astray. Those who have a long term vision usually make fewer mistakes. Another important thing is risk management. Investing beyond your means increases stress and makes poor decisions. The biggest skill here is to keep learning, move slowly, and control your emotions. If you have the mindset to learn from others' successes rather than being jealous, the path becomes much easier.

[Hamza2424]

You can kindly comment your view below ⬇️ to add your own key to be successful in Bitcoin .

Bro, my key to be successful in bitcoin is pretty simple and straightforward but yet many failed to do it, even sometimes me also. That is to invest for long term and then selling earlier, always having a long term plan of holding for at least 10 years and then selling at every pump.

There are those who also sells in dump due to the panic so don't panic, be consistent with the DCA, no matter the market trend is changing, the air is getting more hateful against bitcoin, keep accumulating it until it is adopted worldwide in a way that it can't be banned or separated from the financial world again.

[landheer]

The key to success in Bitcoin, in my opinion, is patience. I think that currently, for people who buy BTC and hold it long-term, it will definitely not be easy, especially those who only have a small amount of BTC, so they will definitely have to hold BTC for a longer time. I think that currently, for people who are less fortunate, it is definitely not easy to own 1 BTC, which is certainly different from rich people who have a lot of BTC easily. But if we can hold BTC for the long term, we could potentially be successful because BTC's price continues to rise and its supply is decreasing. And I also often hear people say that they used to buy BTC at a low price but unfortunately they were not strong enough to hold BTC, which ultimately led to their failure because they sold BTC too cheaply. That is the result of not being able to hold BTC for the long term. So the key to success in investing in BTC is having to be strong enough to hold it for the long term and be patient. And now, those who have succeeded in investing in BTC have been seen, namely those who hold BTC for the long term. and I also, even though I was late in buying BTC because I was new to BTC, I have held it for several years and have already made a profit, but what is certain is that if I had held it longer, the profit would have been even greater.

[fuguebtc]

The key to success in Bitcoin, in my opinion, is patience. I think that currently, for people who buy BTC and hold it long-term, it will definitely not be easy, especially those who only have a small amount of BTC, so they will definitely have to hold BTC for a longer time. I think that currently, for people who are less fortunate, it is definitely not easy to own 1 BTC, which is certainly different from rich people who have a lot of BTC easily. But if we can hold BTC for the long term, we could potentially be successful because BTC's price continues to rise and its supply is decreasing. And I also often hear people say that they used to buy BTC at a low price but unfortunately they were not strong enough to hold BTC, which ultimately led to their failure because they sold BTC too cheaply. That is the result of not being able to hold BTC for the long term. So the key to success in investing in BTC is having to be strong enough to hold it for the long term and be patient. And now, those who have succeeded in investing in BTC have been seen, namely those who hold BTC for the long term. and I also, even though I was late in buying BTC because I was new to BTC, I have held it for several years and have already made a profit, but what is certain is that if I had held it longer, the profit would have been even greater.

However, patience and courage are not something that comes naturally. You will not be able to own those thing unless you truly understand Bitcoin and have unwavering faith in it. And all of those factor stem from knowledge. Therefore, the key to success in Bitcoin is having sufficient knowledge to build conviction, which in turn create patience and courage

For me, investing in bitcoin is just like any other investment or job, knowledge is key. Once we have knowledge and understanding of it, everything else will naturally follow, from belief and patience to courage.

[Onyeeze]

You have raised a good point. I would like to add another thing patience. The thought of suddenly becoming rich in Bitcoin leads many people astray. Those who have a long term vision usually make fewer mistakes. Another important thing is risk management. Investing beyond your means increases stress and makes poor decisions. The biggest skill here is to keep learning, move slowly, and control your emotions. If you have the mindset to learn from others' successes rather than being jealous, the path becomes much easier.

we have different patterns or different strategies to invest in Bitcoin the thing is that a long-term investor are the one that always be successful for bitcoin investment because your patient will determine your success so anyone who invest in Bitcoin and I have the courage to keep it for a long time that person have undergo advice of cryptocurrencies so bitcoin investment should it be followed with a precaution because it's not something that you will benefit at the moment you started the investment, learning about it is to know how to endure and how to exercise a patient during your investment time

[Achalugo BTC]

Keeping your emotions in check is the best form of defense to sustaining and keeping up with your investment over the long term, being emotional deriving can disrupt your investment goal and objectives by making drastic decisions that you will regret later, patient is a virtue and it is very important in ones life over what requires enough longevity, there is a major difference between what is matured and what is not and in the case of Bitcoin investment allowing it to become matured is the reality where you can actually be a potential beneficiary of it's long term benefits.

Having control of your emotions can help one in making the right decision as you have stated, which is why people should never neglect the power of emotional control as it like a shield in their investment, which they don't make decisions based on their emotions, which might lead to regrets but based on how important and beneficial it will turn out to be. So what thing it will take one to do in order to have a successful investment, they should do it, for their own good or advantage.

[Patikno]

4: don’t Jealous a person success : a lot of people have a wrong motive about those who are doing well in Bitcoin their by condemning such individual which is a bad attitude . Everyone as the day is going your  luck will shine

I disagree with your opinion on number 4, which is to not be jealous of someone else success. I think envy of others' success, especially those who have succeeded in Bitcoin, is necessary, but in a positive sense. Personally, I feel jealous when I see people who have been involved in Bitcoin before, and their success is due to their involvement in Bitcoin, especially those who have managed to hold Bitcoin for a long time. I am jealous in a positive sense; the success of others motivates me to do the same to succeed in Bitcoin. So, the jealousy I am referring to is aimed at motivating ourselves to grow even better in the future. I hope you understand what I mean.

[Fivestar4everMVP]

Bitcoin will be the best for you when you later emerge. But a lot of people take it for granted and they are carried away by what they should do and how they should go about it .
Kindly see the following keys to be successful in the area of Bitcoin :
1: make sure you are focused: if your attention is not on one position you will deviate and for you not to deviate you must be focused . To be focused means the area in which you are beholding is not left without fixing it .
2: consistency : every one who want to be successful in the Bitcoin space must be consistent, men and women that are consistent they don’t struggle to meet the demands of the community
3: Skillful : everything you do requires skillful and educated very well even in the aspect of theory in order to be able to give a rationale behind what you are doing in Bitcoin .
4: don’t Jealous a person success : a lot of people have a wrong motive about those who are doing well in Bitcoin their by condemning such individual which is a bad attitude . Everyone as the day is going your  luck will shine

You can kindly comment your view below ⬇️ to add your own key to be successful in Bitcoin .

1. Make sure to be focused doing what exactly?
2. One who wants to be successful in bitcoin must be consistent in what exactly? Or doing what?
3. There are several type of skill a person can aquire, you said a person who wants to be successful in bitcoin must be skillful, and I ask in what area? What type of skill do I need to aquire or equip myself with to make myself become successful as a bitcoiner?
4. Being jealous is not always a bad thing or don't you know this, I can be jealous someones success with a clean and pure heart, my being jealous is not for evil, but because I wish to become like that person..
So, when you say that we should not be jealous of those who are successful in bitcoin, you need you point out what type of jealousy you are talking about.

All this points you made lacked the most important parts which are the true keys to being successful in bitcoin, you can't just tell someone to be focus, I can be focused watching the price of Bitcoin go up and down, does this also make me successful in bitcoin?

[Stalker22]

Well, this advice would be great for a motivational seminar or something, but its terrible for a portfolio.  Success in Bitcoin comes from risk management and cold logic, not being a "focused" person with a "good motive."  And telling people their "luck will shine" is kinda foolish.  If you are waiting for "luck" to make you successful, you are not an investor but a gambler waiting for a jackpot that was already claimed a long time ago.

[SeriouslyGiveaway]

Well, this advice would be great for a motivational seminar or something, but its terrible for a portfolio.  Success in Bitcoin comes from risk management and cold logic, not being a "focused" person with a "good motive."  And telling people their "luck will shine" is kinda foolish.  If you are waiting for "luck" to make you successful, you are not an investor but a gambler waiting for a jackpot that was already claimed a long time ago.

Success with Bitcoin mostly is with investment in Bitcoin, not from trading and people also have to do their investment rightly from preparation of knowledge, good wallets, necessary steps for creating a wallet, testing it with a small funding, backing the wallet, testing the wallet recovery, and eventually storage of bitcoin safely.

The best storage is Bitcoin cold wallets like open source hardware wallets.
[LIST] Open Source Hardware Wallets.
[GUIDE] How to buy a Hardware Wallet the right way.

Investment is only safe if people prepare good finance, and don't over use their money for investment that means they have reserved money for bills and emergency.

[Dictator69]

Consistency is mostly never realized, that's the sad reality. If only they can be patient with bitcoin's high volatility, then they can also assure consistency on what they have started at first.

Once we have made our mind to buy bitcoin for a very long time then we should never look back at the small profits we are making, if bitcoin hit $200k we should not stop, we should keep holding it keep buying it too, we should not say let's wait for it to drop to $50k again while it is ranging in the $150k and $200k.

We should change our higher highs and lower lows according to the adoption. I am learning these things for now, but not so hard that anyone can understand one thing that, cycle is repeating itself but we are too blind as always to not see it. This is exactly how it happened in the past.

[X-ray]

Those points are mostly empty talk if we're talking about keys to be successful in bitcoin even though those are good advice.

Lets look at how crypto billionaire become successful through bitcoin :

1. MSTR considered a successful company valued significantly higher before exposing itself to bitcoin, the secret recipe to its success -> holding bitcoin

2. Winklevoss twins currently billionaire, the secret recipe to its success ->  holding bitcoin

3. Tim draper, currently also billionare and its secret recipe to its success -> buying bitcoin at $600 and holding it all the way.

I think it's pretty obvious that holding bitcoin is the way, no need for all those advices even      .

[MarjorieZimmermanGinger]

Bitcoin will be the best for you when you later emerge. But a lot of people take it for granted and they are carried away by what they should do and how they should go about it .
Kindly see the following keys to be successful in the area of Bitcoin :

You don't touch on the technical aspects of how people approach achieving financial freedom from investing in Bitcoin you only discuss the basics of investment involvement. More than the three points you mentioned are likely essential for anyone involved in Bitcoin investment regarding growth and I often mention investing patterns that employ long-term strategies. The question then arises as to how this concept can work effectively. Implementing a long-term strategy alone isn't enough. If someone doesn't have the ability to accumulate purchases based on capital adjustments, asset growth will stagnate at the initial purchase value. Therefore, it's necessary to adjust the amount of assets held by consistently buying back Bitcoin.

[Zackz5000]

Bitcoin reward those who consistently and persistently accumulate Bitcoin and hodl for a long time and this depend on how discipline an investor is, first we should know the principles of Bitcoin investment, Bitcoin is a volatile asset it can increase and also decrease and since it's a volatile asset it doesn't even guarantee us success but from the record of Bitcoin it has been rewarding long time hodlers but still it's an investment we should accumulate with only our discretionary income if an investor consistently accumulate Bitcoin and store for long there is a good possibility that such investor can be successful in the future.

[MusaPk]

Once we have made our mind to buy bitcoin for a very long time then we should never look back at the small profits we are making, if bitcoin hit $200k we should not stop, we should keep holding it keep buying it too, we should not say let's wait for it to drop to $50k again while it is ranging in the $150k and $200k.

We should change our higher highs and lower lows according to the adoption. I am learning these things for now, but not so hard that anyone can understand one thing that, cycle is repeating itself but we are too blind as always to not see it. This is exactly how it happened in the past.

I think we should set a target and start selling whenever that target price is reached. There is no point in holding Bitcoin forever and also we must never sell our Bitcoin for few dollar profit because Bitcoin has the capability to give you huge profit. If you are buying in the range of $80,000 to $90,000 then an ideal target will be 200,000$ because that means you will get over double of what you have invested. I know its not an easy thing because we are not sure how long Bitcoin will take to reach 200,000$ but it will be there one day. All we need is patience and continuous investment.   

[Publictalk792]

Bitcoin reward those who consistently and persistently accumulate Bitcoin and hodl for a long time and this depend on how discipline an investor is, first we should know the principles of Bitcoin investment, Bitcoin is a volatile asset it can increase and also decrease and since it's a volatile asset it doesn't even guarantee us success but from the record of Bitcoin it has been rewarding long time hodlers but still it's an investment we should accumulate with only our discretionary income if an investor consistently accumulate Bitcoin and store for long there is a good possibility that such investor can be successful in the future.

It is more matter of personal control and patience than attempting to guess when to buy that Bitcoin is going to work. To be on safe side, you must only put in amount of money you see to be extra income, such as money that you do not even need to pay your bills, or even to handle emergencies, so that, in case price drops fast, you will not be forced to sell them. Although price can be highly unsteady and fall much within few months, risk of loss in long term view in at least four years of holding Bitcoin is historically gone. You can remove short term scare in market by using smart ways such as Dollar Cost Averaging and keeping your money safely in offline storage so that you can think long term growth. Thinking of Bitcoin as long term value saving tool instead of quick way to become wealthy can make you remain calm and successful even when market is acting madly.