Post
Topic
Board Bitcoin Discussion
Re: How to hold Bitcoin for long term without being tempted to sell.
by
Jon_Hodl
on 31/01/2025, 18:32:56 UTC
Holding Bitcoin for the long term without being tempted to sell is very difficult it requires a combination of mindset, strategy, and security measures to be able to hold for a very long period of time, below are some measures that will help you.

6. Time-Locking Solutions.
Some platforms allow you to lock up Bitcoin for a specified period to prevent impulsive decisions.
This will really help you, when you have set out plan to hold for 10 years and you lock it for that 10 years you can only deposit more Bitcoin but  you cannot withdraw or sell it till that 10 years is over.

I think this is possibly the best solution for people who don't have the discipline to HODL for the long term. Sparrow Wallet (https://sparrowwallet.com) has the option to use timelocks and they're very easy to use. This is how I would help new users who want to HODL for like a decade. They still need to write their seed phrase down and store it somewhere safe but that is already common practice.