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.

[Elizabeth Agata]

Some people think Bitcoin is all about fear because the price is volatile, but we all know that fear is one of the huge things and that makes it scary to some. But when you get experience and knowledge, you learn how to control your mind and feel comfortable in your investment journey.

There are some things that, if you follow them, will make you comfortable in your Bitcoin investment.

Understanding over noise:
When you have real knowledge about Bitcoin, you won't worry about what others are saying. You feel better even when the price is not moving your way, because you believe you will reach your goal in the future when the price rises. And that stops you from checking charts every minute or hour.

Long-term lens:
When investing in Bitcoin, your mindset should be ready for a four-year cycle, not just 3 or 4 days thinking you will be profitable. When you start thinking deeply and focus on long-term investment and set a target, you will feel more comfortable in your investment journey.

Strategy not gambling
The DCA method is much better than timing the dip. It is good to buy small and consistently, that will be like savings and not trading. You feel better because you are using DCA to grow your Bitcoin portfolio. Waiting for the price to increase before investing is like gambling, because you are just taking risks without risk management.

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.

From what I have read and have known about Bitcoin I feel like it's more comfortable to invest in Bitcoin not minding it's volatility when you do a long term investment. No mater how the market seems to fluctuate due to its volatility you could still feel relax if you are investing with the mind of holding for a longer period of time and that's where you need to invest with funds that can be left for a more longer period of time hence that's where the DCA strategy comes in where you can invest within your capacity and be relaxed because you actually invested with your discretionary income.

[Silverstonez]

My bitcoin journey is comfortable because I don’t listen to the crowd, I follow fundamentals not noise. I only purchase bitcoin when I have the disposable money to invest, i don’t need to be buying bitcoin every week or every month even when I don’t have a left over money to do so after handling my bills and groceries because others are doing it. If you really want your bitcoin journey to be peaceful then do things at your own pace and not trying to keep up with the crowd, because bitcoin is a personal financial journey not a competition.

[PremiumcryptoHub]

One thing that has made my journey in Bitcoin is being amongst people that have had experience and are not afraid of investing no matter how risky it looks, if you want to succeed in a particular field you have to surround yourself with people that have been there longer than you and also people that are positive and open minded and focused although what worked for them may not work for you but it is important to be in the midst of positive people while having your own strategy.

Bitcoin has a strategy that works well for it likewise every business has a pattern that works for it, Observation and patience is part of the necessities while trying to invest Bitcoin, because general speculation will only lead to bad decision making,

Observation, planning and patience are essential for investing i agree with this because common speculations or rumors about investments often lead to wrong decisions also we should understand that the idea that "investing where everyone is investing will surely make a profit" is one of the biggest mistakes in investing.

at this time people will start debating on whether to keep holding or sell there holding when there is bear market which is the most terrifying period for every investor just like every business have several times and period when they are faced with challenges that shakes there mind to discontinue.

To be honest bear market is a difficult time for every investor as many people panic and sell their Bitcoin investments. For example after the largest hack of the Binance exchange in crypto history, many retailers panicked and sold their bitcoins, as a result it is seen the price of this currency has decreased by about 5 percent. So in this context it can be said by leaving aside all speculation, one should apply the right strategy for investing in Bitcoin and you should hold Bitcoin patiently.

[Odohu]

My bitcoin journey is comfortable because I don’t listen to the crowd, I follow fundamentals not noise. I only purchase bitcoin when I have the disposable money to invest, i don’t need to be buying bitcoin every week or every month even when I don’t have a left over money to do so after handling my bills and groceries because others are doing it. If you really want your bitcoin journey to be peaceful then do things at your own pace and not trying to keep up with the crowd, because bitcoin is a personal financial journey not a competition.

My method is the opposite of yours and I'm happy to be using that method which is the DCA method. It helped me to be more organised and systematic about the process. Because of the DCA strategy,  I see my Bitcoin as a duty I must fulfill at the time of the DCA and that have been working for me and helped me make more progress than I would have made without using the DCA method. If you try using it, you may change your approach I promise.

[Exitoral]

Everybody focuses on DCA and how to invest. No one takes time to analyse the amount one can risk in accumulating Bitcoin. We should not be too confident that we do things without thinking of the negative part of things. If you want to invest properly you have to think about the money you want to invest. Know that there is risk in everything and affording to risk what you are comfortable with is important. Let's face it, there will always be ups and downs in the investment space. So we should all be ready to risk an amount that won't put us in debt.

[Jaycoinz]

My bitcoin journey is comfortable because I don’t listen to the crowd, I follow fundamentals not noise. I only purchase bitcoin when I have the disposable money to invest, i don’t need to be buying bitcoin every week or every month even when I don’t have a left over money to do so after handling my bills and groceries because others are doing it. If you really want your bitcoin journey to be peaceful then do things at your own pace and not trying to keep up with the crowd, because bitcoin is a personal financial journey not a competition.

My method is the opposite of yours and I'm happy to be using that method which is the DCA method. It helped me to be more organised and systematic about the process. Because of the DCA strategy,  I see my Bitcoin as a duty I must fulfill at the time of the DCA and that have been working for me and helped me make more progress than I would have made without using the DCA method. If you try using it, you may change your approach I promise.

He has already cleared that he is comfortable with the way he is buying and to be honest I think what Silverstonez said  is related because some people can buy bitcoin just because of the pressure of meeting up with their targets set even if it's DCA method they are using simply missing the real points about a peaceful and comfortable investment. It's all about convenient and I simply just think everyone should genuinely use whichever way that won't cause discomfort to the investor.

[Lembo69]

Everybody focuses on DCA and how to invest. No one takes time to analyse the amount one can risk in accumulating Bitcoin. We should not be too confident that we do things without thinking of the negative part of things. If you want to invest properly you have to think about the money you want to invest. Know that there is risk in everything and affording to risk what you are comfortable with is important. Let's face it, there will always be ups and downs in the investment space. So we should all be ready to risk an amount that won't put us in debt.

Yes, it is true that the first step in investing is to take a risk. If you want to invest in Bitcoin, you must take a risk. But we also have to make sure that we do not take a loan for investment and we must invest from prudent funds. Because if we invest without prudent funds, we will always be worried, which may make it difficult to increase our investment portfolio. DCA strategy I think is the best strategy. If you invest through DCA strategy, you can easily invest even with a small amount of money, which is considered a best way to increase investment. Another thing we have to remember is that we should not only take risks, we should also keep an emergency fund along with our investment.