how to invest and hold your bitcoin in hard times

[cxtreenal]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

From the way you are talking, it seems that you are probably stuck in the quicksand of trading. Your funds are tied up in the long term. We always advise investors to avoid short term trading or greedy strategies. If you had been in a long term investment strategy from the beginning, you would not have to regret it today. Use discretionary income in investing and use the excess funds that you have available. The key to success in investing is to use a long term investment strategy and a fund that you do not need, that means it is better to have funds that you can afford to lose.

[NewRevelation]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

Bitcoin investment is not do or die. Infact, na person wey dey alive they invest money. Na person wey don chop na im dey save money for another place, and dis Bitcoin own self no be wetin u go one use anytime you want am, na somtin you go won keep make e stay long so dat e fit last long make small money enter on top for you as gain. So, na person wey don chop beleful dey think to do Bitcoin ooo, no be hungry person oo, abeg oo.

About your question, how to invest and HODL, it's just simple. You just have to invest within your means and don't push it. Things are high in price, and little earnings can only afford to buy little things for you. Therefore, we just have to plan our buys within our income, I mean our discretionary income l after handling basic needs first. Infact, to invest and HODL, basic needs first, then discretionary for little investments, and slowly, over the years, you could build up something tangible for yourself.

[Stormisover]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

Low income earners are still accumulating Bitcoin and hold for long time, you must use a particular fix amount to accumulate Bitcoin even if you don't still have money to buy Bitcoin now you can as well be holding the ones you have accumulated then when you see that you have little money to start investing again you continue.

Low income earners are using the DCA strategy in accumulating Bitcoin, this strategy will help accumulate Bitcoin gradually you can be accumulating either every weeks or every months just depending on when you know you have your discretionary income available.

Could this be a mistake or something? Because am wondering how people or low income earners can be able to sustain their investment through investing a fixed amount in response to the increasing cost of living in the country or in the world at large now, I guess you wanted to say that you must not use a particular fix amount to accumulate Bitcoin, this is obtainable with the look of how things are going right for majority of people, being flexible with the amount to be investing will take away investing with pressure of waiting to have a fixed amount first before investing, your investment amount can varies and based on the available investment fund, and you only get to invest when there is investment fund.

[Hardyrobust]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

It doesn't matter whether you are a low income earner or not as long as you have discretionary income to invest in bitcoin then you are good to start investing in bitcoin. So bitcoin investment isn't just for those with high paying jobs, even the poor folks still have the opportunity to invest in bitcoin provided they have discretionary funds.
To be able to hold bitcoin for a long term you need to invest with money that you won't be needing any time soon, because this money will lock away for years. Aside using discretionary income there is need to always have a backup funds incase if things or the unexpected happens, we can always be able to protect our bitcoin investment. Holding bitcoin for a long time without any form of back up funds isn't possible.

[Abdulzuruku01]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

Earning 100k monthly is a reasonable income to take part of it and continue with your bitcoin investment in Nigeria, however it depend on the location you reside. Because with the high cost of living in the country if you reside maybe a place where things are expensive like Abuja, honestly it will be very difficult for you to invest in bitcoin with that 100k. Because feeding, transport and emergency for expensive area fit chop everything for just 3 weeks and it won't make sense to invest and starving yourself.

Although it's still possible for some people depending on how they spend. But my advice for you is, if you find it difficult to invest try another type investment of investment first. if that favor you,  you can return and start investing in bitcoin, because every time is a good time to invest in bitcoin.

[GIF-JOBS]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

From the way you are talking, it seems that you are probably stuck in the quicksand of trading. Your funds are tied up in the long term. We always advise investors to avoid short term trading or greedy strategies. If you had been in a long term investment strategy from the beginning, you would not have to regret it today. Use discretionary income in investing and use the excess funds that you have available. The key to success in investing is to use a long term investment strategy and a fund that you do not need, that means it is better to have funds that you can afford to lose.

In terms of investment, you should never use money that you may need in a short time. Because when you have to rely on the money invested for urgent needs, it can cause major losses due to market volatility. The most important thing in a long-term investment is continuity, here you have to maintain your investment for a long time through continuous purchases, so that your holding is also built up at the purchase price, and at the same time your continuity is also maintained. However, you must have complete risk management in place to keep your holding safe, because emergency situations can arise at any moment, and at that time your holding is also safe, and at the same time you can handle your emergency.

[Sticky Bomb]

This investment is for all income earners both high and low but it all depends on how serious you can be and also if you can come up with an investment plan for yourself. The reason why a lot of people think that investing in Bitcoin is actually very difficult is because they probably don't have a source of income which makes it very difficult for them but as long as you have something doing them it means that you start gradually invest using DCA strategy but this has to be a step by step process, if you move fast due to impatience you are going to end up making certain mistakes as holders and if you intend to stand the test of time you must be consistent with it.

I think OP is having some difficulty with continuing with the investment based on financial constraints judging from his income level. I wouldn't advise him to use DCA if he cannot afford it. He can just keep holding and add to his portfolio whenever he feels he can until his financial situation improves. There are periods that expenses are lower and there's more discretionary income available, he can follow up at those intervals only. Make him shaa no do pass him power.

[CryptopreneurBrainboss]

Bitcoin investment is not do or die. Infact, na person wey dey alive they invest money. Na person wey don chop na im dey save money for another place, and dis Bitcoin own self no be wetin u go one use anytime you want am, na somtin you go won keep make e stay long so dat e fit last long make small money enter on top for you as gain. So, na person wey don chop beleful dey think to do Bitcoin ooo, no be hungry person oo, abeg oo.

No be lie, you go dun first chop before you begin they reason Bitcoin as if you never chop then get wetin you go chop first, no put eye there. But people ignore this warnings and this make them become victims of their own lack of planning.

The problems isn't to buy but can you hodl even when the market looks like all hopes are lost. If you don't have the mind and financial backings don't invest or you'll be wasting your time and resources.

You have to be able to buy and forget before investing in Bitcoin as that's the strategy that'll benefits you as an Investor especially as a small scaled investor that most of us here are.

Don't be in a rush to invest, take your time, gather your resources, have emergency funds and backups plans/fiunds so you don't stop half way filled with disappointment.

[Yorubek]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

It is true that it will be difficult for people with low incomes to consistently buy and hold Bitcoin for a long time, because their income is relatively low compared to their needs. The price of Bitcoin is very volatile, so it is not possible to make money quickly through investment, it is very important for an investor to use his money wisely to buy Bitcoin and hold it for the long term, because there is no confirm of profit through investment, so it is better to use money that the investor can afford to lose.

I think it is very important for low-income people to diversify their income before starting to invest in Bitcoin because this will allow them to buy Bitcoin with discipline and not have to close the investment completely or sell it quickly in the long term, thus protecting them from losses and having the potential to make big money in the future.

[Cleanshit]

The problems isn't to buy but can you hodl even when the market looks like all hopes are lost. If you don't have the mind and financial backings don't invest or you'll be wasting your time and resources.

To be able to buy Bitcoin is a thing but again for one to be able to hold on Bitcoin when market is not favorable to you is another thing again. That why when it come to Bitcoin investment you aren’t advice to invest in your emergency funds. For one to be able to hold for a very long term you need to have your emergency funds, and with your discretionary income it makes it easier.

[Tongley]

The problems isn't to buy but can you hodl even when the market looks like all hopes are lost. If you don't have the mind and financial backings don't invest or you'll be wasting your time and resources.

Selling due to lack of patience or being impatient and selling due to financial crisis or problem are two different things. A person who cannot cope with market volatility or who is not patient is completely due to their human nature. If they can set their goals and if they keep moving forward according to their goals or do not deviate from their goals then they will definitely be able to hold on for the long term.

If a person starts investing and if a financial crisis occurs during his investment and if he is not able to face his crisis with emergency funds then selling the holding is definitely the right decision. But selling due to lack of patience and his own mistakes and selling due to financial capacity are two completely different things.

[NewRevelation]

This investment is for all income earners both high and low but it all depends on how serious you can be and also if you can come up with an investment plan for yourself. The reason why a lot of people think that investing in Bitcoin is actually very difficult is because they probably don't have a source of income which makes it very difficult for them but as long as you have something doing them it means that you start gradually invest using DCA strategy but this has to be a step by step process, if you move fast due to impatience you are going to end up making certain mistakes as holders and if you intend to stand the test of time you must be consistent with it.

I think OP is having some difficulty with continuing with the investment based on financial constraints judging from his income level. I wouldn't advise him to use DCA if he cannot afford it. He can just keep holding and add to his portfolio whenever he feels he can until his financial situation improves. There are periods that expenses are lower and there's more discretionary income available, he can follow up at those intervals only. Make him shaa no do pass him power.

Hahaha, for me, na there the main talk dey, 'make in no do pass in power'.
He was very plain, his income is becoming a problem to invest since the cost of things now is just too high and it's a big problem for him and so many other investors even though not everyone would openly speak of there predicaments here.

Investment was made for man, not us for investment. Investment is just to improve our financial status in a long run or in the future. But this must not be against our lives first. An investor must first survive before invetsiu. So there is nothing wrong if he relaxes or pauses his buys if he can't meet up anymore till his income is better. Till we understand this, we will keep making wrong decisions that may break us down in the nearest future.

[Queen uloma]

For me, investment isn’t supposed to make people suffer when it comes to their basic needs. If the economy is unstable it’s good to reduce the amount you use in investing instead of stopping totally or putting all your money into investment. When you invest step by step your investment can build something credible with time.

Holding for longterm  makes sense when you already have an emergency funds and your daily activities is  covered. It’s not a  do or die to invest big amount of money always, the most crucial thing is  to only invest with what you can afford to leave for a long time and remain consistent. 

[GiftedMAN]

The problems isn't to buy but can you hodl even when the market looks like all hopes are lost. If you don't have the mind and financial backings don't invest or you'll be wasting your time and resources.

To be able to buy Bitcoin is a thing but again for one to be able to hold on Bitcoin when market is not favorable to you is another thing again. That why when it come to Bitcoin investment you aren’t advice to invest in your emergency funds. For one to be able to hold for a very long term you need to have your emergency funds, and with your discretionary income it makes it easier.

An investor that understands what he intend to gain at the long run will not be scared when the market is not favourable because before investing in Bitcoin he is aware that the market will always go up and down but knowing that his funds are intact will make him to remain calm and consistent with his investments. Aside investing in Bitcoin with spare money it is important to have a source of income to avoid anything that will make you to panic and once you have this understanding you won't temper your emergency funds because they already have a plan for it.

[GIF-JOBS]

The problems isn't to buy but can you hodl even when the market looks like all hopes are lost. If you don't have the mind and financial backings don't invest or you'll be wasting your time and resources.

To be able to buy Bitcoin is a thing but again for one to be able to hold on Bitcoin when market is not favorable to you is another thing again. That why when it come to Bitcoin investment you aren’t advice to invest in your emergency funds. For one to be able to hold for a very long term you need to have your emergency funds, and with your discretionary income it makes it easier.

This is a very common outcome when you have no emergency fund, and in such a situation, if the invested money is your only source of emergency expenses, then the situation will be worse and you may be forced to sell Bitcoin at a loss. Because Bitcoin is very volatile, and this is why sudden selling can be a loss. And this is why it is important to maintain an emergency fund to protect your investment, the purpose of an emergency fund is to give you financial security in unexpected situations, so that you do not have to face a situation like selling suddenly during such a situation. If you want to have a good chance of success from Bitcoin, it is very important to maintain the continuity of your investment, and for this you need to maintain everything, including the mentality of ignoring market volatility and everything, including an emergency fund.

[abaeze]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

This is where most people make mistakes, i.e. instead of using their own capabilities and knowledge, they try to plan their investment plans based on the intelligence of others or they invest in many areas but when a sudden danger comes, they are forced to sell Bitcoin at a loss.

You may misunderstand me, but believe me, if you have some money in hand after meeting all the expenses of your life, i.e. food, clothing, housing, medical care, education, then you can invest in Bitcoin with that money. Otherwise, if you invest in volatile assets like Bitcoin with your life expenses due to excessive emotion or greed or due to misconceptions, then in the future, in any sudden danger, you may have to sell your hard-earned Bitcoin at a loss and there is a possibility of loss. So first understand your capabilities and then plan your investment plan accordingly because no one knows your financial situation better than you.

[Derekfunds]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

It is not a must to invest and hold Bitcoin that is one thing you should be aware of so you don't force yourself and regret your decision and choice later. Since you said you have been investing and holding Bitcoin for some years now that is nice to hear but now you think the system of government has affected the economy very bad and it is not favorable for you then it will be better you stop investing and only hold the ones you have already before you use your expenses money to invest.

[Jaycoinz]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

It is not a must to invest and hold Bitcoin that is one thing you should be aware of so you don't force yourself and regret your decision and choice later. Since you said you have been investing and holding Bitcoin for some years now that is nice to hear but now you think the system of government has affected the economy very bad and it is not favorable for you then it will be better you stop investing and only hold the ones you have already before you use your expenses money to invest.

Having a good source of income is important when it comes to Bitcoin investments and that's basically the core motive that keeps you going and also part of the features that would guarantee a successful investor in Bitcoin. So many people feel Bitcoin investment is something that is a must for them and feeling like if they don't get their hands on some Bitcoin or invest they are not going to be rich or make in life and that's because of the narrative they follow into investing in Bitcoin.

Bitcoin shouldn't be a burden to you, if you don't have a proper source of income to continue buying with your discretionary income then it's better to pause and look for alternatives.

[Dzwaafu11]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

Even though we always preach for people to invest in Bitcoin, it's not must to invest when you don't have make sure you are financially stable before you think of investing in Bitcoin. Don't invest and be suffering it is not really a good idea, and if you think as your earning is very low you will invest then definitely you may at lost, because sometimes you will definitely need an emergency funds to sort your problem that is financially.

it's won't be funny because what if the market is red, that is why it's better you invest when you are financially stable, or once in a while when you have money that will not be use anytime soon.

[Odohu]

due to the current situation in the country wish i think every body is aware of  somtimes i ask myself how can i continue to invest and hold in this condition because i strongly believe this invest and hold journey is not for low income earners as for me atleast my income is above 100k monthly and i have been able to hold some coins few years ago but now things has been somehow so i really dont know how can i continue to invest and hold

It is not a must to invest and hold Bitcoin that is one thing you should be aware of so you don't force yourself and regret your decision and choice later. Since you said you have been investing and holding Bitcoin for some years now that is nice to hear but now you think the system of government has affected the economy very bad and it is not favorable for you then it will be better you stop investing and only hold the ones you have already before you use your expenses money to invest.

If you are investing this forum and still have this mindset, then what will people that are not in this forum think? The most important thing you can do for yourself as an active member of this forum is to invest in Bitcoin and hold for the future. That is how to put the knowledge you have gained here to proper use. Will you be happy with yourself if after ten to twenty years from now you see Bitcoin at over a million dollar per coin yet you have none? Inasmuch as we are joining the conversation here, we should endeavor to hold some Bitcoin, that small portion you are holding may be the best decision you would be taking in a lifetime.