Post
Topic
Board Nigeria (Naija)
Merits 6 from 3 users
Topic OP
Long-Term Investment.
by
Shadiq
on 29/01/2025, 01:57:42 UTC
⭐ Merited by 1miau (4) ,Hatchy (1) ,CryptopreneurBrainboss (1)
In modern economics, Bitcoin is steadily establishing its presence. As time goes by, the number of Bitcoin users continues to rise. Although Bitcoin was initially created as a medium of exchange, it has now become one of the most popular assets for investment. In particular, Bitcoin is considered the most reliable and has the highest potential for long-term returns. To gain the maximum benefit from Bitcoin, one should focus on long-term investment planning.

As a novice investor, before starting your investment, you need to make sure of the following:
1. A reliable source of income or an alternative income source.
2. Basic knowledge about Bitcoin and investing.
3. A long-term plan and commitment to long-term investment.


If you can confirm these aspects as a novice, then you should proceed with your investment without hesitation. It would be unwise to wait for the price of Bitcoin to drop before investing. If you do so, you will delay your investment and lose opportunities to buy. In this case, depending on your situation, you can choose your preferred investment strategy from the options available.

Investment strategies:
1. Dollar-Cost Averaging (DCA)
2. HODLing (Hold On for Dear Life)
3. Value Averaging (VA)
4. Buying the Dip
5. Lump Sum Investment


Among the strategies mentioned, an experienced person can manage investments using any method they prefer based on their personal freedom. However, as a novice, I would recommend the DCA strategy and encourage you to invest using DCA. This is because, as a novice without deep knowledge of investing and Bitcoin, you may not be able to use the other strategies correctly. This could lead to making wrong decisions. With DCA, you can choose how much to invest based on your situation, and this method is very easy to follow. In DCA, you consistently buy Bitcoin weekly or monthly, regardless of the market conditions.

After investing, you need to make a solid plan to hold onto your investment for the long term and gain a deeper understanding of long-term holding strategies. While deep knowledge may not be necessary at the beginning, it becomes essential in ensuring the longevity of your investment.

To hold successfully for the long term, you must ensure:
1. Invest with money that is not needed for daily expenses.
2. Prepare backup funds as needed, such as:
   1) Emergency funds.
   2) Reserve funds.
   3) Sufficient cash flow.
   4) Other funds as necessary (name not important).


These funds act as safeguards for your investment. If you invest with proper planning and backup funds, you are less likely to be forced to sell your investment unexpectedly, and this will play a crucial role in helping you reach your investment goals.