What Makes Your Bitcoin Journey Comfortable?

[Inior]

Sticking with people who share the same opinion and goal can be underrated at times. It’s always good to associate yourself with people who are also looking at same direction with you, that way you both can keep encouraging each other and not discouraging yourself. Which is also why you must learn to communicate certain goals to only few persons as possible and that few should be of same interest so you don’t get shun or discouraged. In as much as friends or family can be very supportive, they could still be the reason you are where you are today probably because you let them validate majority of the decision you take.
So aside understanding and having a good strategy it’s very important we keep certain information to ourselves until it is executed.

[Yorubek]

To make the long-term journey of Bitcoin easier, I think it is very important for an investor to have the right knowledge about Bitcoin. In addition it is very important to be aware of the risks of investment have a long-term plan for investment invest wisely disciplined and be confident and patient.

An investor can invest independently according to their convenience using the strategy, but I think adopting the DCA method is the most effective for an investor to keep the investment journey easy in the long term. Bitcoin is volatile and the price fluctuates rapidly, so normally while investing in Bitcoin, an investor has to keep a close eye on the market understand the volatility of Bitcoin and then invest, but while investing using the DCA method, an investor does not have to keep an eye on the volatility of the market in addition there is no need to invest too much money at once the investor can invest little by little within his means he can maintain discipline this does not put additional financial or mental stress on himself as a result the investor can manage the long-term journey smoothly he does not have to stop investing in the middle.

Dangers can come at any time on the way of long-term investments, so it is more effective to create an emergency fund for three months by thinking about the future which will help an investor protect himself from unknown dangers, so that the investor can reach his destination.

[Cleanslate_]

Security; The method at which bitcoin is being secured without having a third party,  it is decentralized, you are responsible for the safety of your coins both in and out of your funds without restrictions or your funds being frozen or one will have to explain how come about your asset gives me the strength to successfully investment in bitcoin.

The accumulation to bitcoin using an easy and stress-free strategy to buy and hold it for a long term using the dca strategy gives me a great comfort.

[Grace333]

Having a very good strategy before you begin investing in bitcoin is very important. It can be NCA or some strategies that are similar to NCA.

I prefer not to fomo, but wait until the market calm again after a long term bull run and invest when people are panicking. This is the best time to begin NCA.

Invest just little amount gradually.

Investing gradually is something that a lot of people don't really take seriously, they assume that they can only start their investment in Bitcoin investment if they invest a large capital but that's a wrong assumption to have. Using DCA is an advantage and as long as you can be consistent with it and also have a source of income you can gradually increase the amount you put in overtime but the problem with a lot of people is that they lack patience.

[Pablo-wood]

Having a very good strategy before you begin investing in bitcoin is very important. It can be NCA or some strategies that are similar to NCA.

I prefer not to fomo, but wait until the market calm again after a long term bull run and invest when people are panicking. This is the best time to begin NCA.

Invest just little amount gradually.

Investing gradually is something that a lot of people don't really take seriously, they assume that they can only start their investment in Bitcoin investment if they invest a large capital but that's a wrong assumption to have. Using DCA is an advantage and as long as you can be consistent with it and also have a source of income you can gradually increase the amount you put in overtime but the problem with a lot of people is that they lack patience.

DCA is feasible when there is a guaranteed source of income. Most people who are scared to start think of the time frame it will take to get meaningful accumulations. Although its better to start with what we have and hope the future gets better for a more meaningful commitment towards our investment choices. DCA requires discipline to stay committed in ensuring we apply them. Sone times we make it sound common whereas in real sense it is a difficult as trying to own a full BTC at once.

[Coin_info]

Understanding over noise:
When you have real knowledge about Bitcoin, you won't worry about what others are saying.

Knowledge is encouraging and also being an active user in a forum like this where people contribute on every trending discussion and situation with bitcoin is encouraging especially in times when bitcoin is on a drop in value. Having to handle such situations like that especially as a new time owner can get discouraging for the average investor who is alone and trying to handle all those emotions by themselves.  na one reason this forum take dey make my bitcoin journey dey comfortable small because alone if I nor sure how others dey do when bitcoin nor dey perform well, I for dun run.

[CryptopreneurBrainboss]

Security you control
This is one thing that saves you from becoming a victim. Security protects your coins and makes you feel safer when you keep them in self-custody and write your seed phrase offline. When all your security is tight, you feel comfortable in your investment journey, because not your keys, not your coins, and that is the fact.

This best suits the current discussion ongoing right now because of the Binance exchange hack, we always downplay the importance of being in control of our funds and security over our investments. We think these exchanges or platforms can do a better job then us but time always expose them for not being secured and we keep seeing that they don't have the security they claim to have.

You're better off protecting your Bitcoin in your own wallets as that gives you comfort knowing that you own your own keys and Bitcoin which is something you can't say id they're on exchanges. Nobody can get access unless you become careless and let them in when you're using non custodial wallets.

Even with all the security measures you enable with exchanges, hackers can still bypass all those security measures and steal your coins. I still don't get why people are comfortable with their coins being on exchanges with the hacking happening every time, what's giving people that amount of confidence, I guess they don't know exchanges can just declare bankruptcy after a hack or exit scam and you lose everything.

[Ever-young]

The reasons you stated are very valid, though not in order of importance but they all are very vital.
Moving to the question, i guess were talking about comfort, and most of the stated factors are actually motivative reasons to hold which is quite deferent from what comfort actually is.

Now let’s talk about comfort. Personally, I’ll say one main reason I am comfortable is the fact that no one can access to your coins. And it is always available to utilize at every point in time. Unlike others. So I sleep with my arms spread out knowing that I’ve got value off governmental control.

[Saltysugar99]

OP you have talked about some important points. Many investors suffer losses due to neglecting all these . But to maintain these properly an investor must have a strong cashflow. If an investor does not have a strong cashflow then it becomes difficult to hold in the long term. Even if there is a thought of long term investment it is not possible to maintain it in reality. Then even if one does not want to but  a trading mindset is created. Then one can observe the tendency to become rich overnight through price prediction. Which makes an investor a trader and many people suffer losses while doing short term trading. However, cashflow does not act as a significant influencer in ensuring the security of bitcoin. Here, it depends on how responsibly a person is keeping his bitcoin holdings safe.

[WhoYouCantKill]

OP you have talked about some important points. Many investors suffer losses due to neglecting all these . But to maintain these properly an investor must have a strong cashflow. If an investor does not have a strong cashflow then it becomes difficult to hold in the long term. Even if there is a thought of long term investment it is not possible to maintain it in reality. Then even if one does not want to but  a trading mindset is created. Then one can observe the tendency to become rich overnight through price prediction. Which makes an investor a trader and many people suffer losses while doing short term trading. However, cashflow does not act as a significant influencer in ensuring the security of bitcoin. Here, it depends on how responsibly a person is keeping his bitcoin holdings safe.

Yeah, investing doesn’t mean one should overlook their day to day life as well as their essential expenses, because overlooking them simply means you’re not yet ready for investing, regardless of the fact that you think you already have the funds to invest.

Ordinarily, the money that’s meant to be used for investing should be money that’s left over after handling your essential expenses, so that means your overall financial life should come first, you should think about your today first before you think about your tomorrow. It’s just not about having a big cash flow, it’s more about having that o real financial stability, being able to handle your essential expenses without the need to depend on anyone or anything for assists.