Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Buy Buy Buy or Sell Sell Sell?
by
cryptoWODL
on 02/01/2025, 17:30:24 UTC
⭐ Merited by JayJuanGee (1)
It is difficult to make a profit by investing in Bitcoin for a short period of time. This is mainly a result of long-term planning.
I think people who invest in Bitcoin for a short period of time are never investors, they are basically traders. Everyone should aim for long term investment i.e. the investor aims to extend his investment for at least eight years or up to 10 years. Moreover, those who are successful investors i.e. those who have achieved success from their investments may all have been long-term investors.
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To invest in Bitcoin, you must have more sources of income. The more sources you have, the easier it will be to maintain the investment. If there is another source of income, the financial stress of the person will be less. If a person feels financial stress in life, he can cover it from there
Although every person's investment plan is different, everyone needs a source of income before investing. If there is no source of income, it may never be possible to prolong the investment. That is why it is said that the more a person's source of income, the longer their investment will last.
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Therefore, one should use a safe wallet for Bitcoin and gradually determine the amount of savings in line with the income.
Yes the wallet we use to store our invested assets i.e. deposit our invested bitcoins must be a secure wallet. If we can use non-custodial wallet then maybe it will be more secure for us. See some examples of non-custodial wallets here. https://cryptopotato.com/best-non-custodial-crypto-wallets-list/