Quote from: Ricardo11 on Today at 09:38:27 AM

That is why the real nature of Bitcoin should be understood first, only by making wrong decisions do investors face danger. Therefore, the most important thing in investment is risk management first. Not short-term trading but long-term investment. You should invest such an amount of money without taking excessive risks, .

The most valid risk management in Bitcoin is investing with discretionary income and building backup funds alongside your investment like emergency funds and various balances of backup funds that are used to service recurring needs that are not really emergencies.

Using discretionary income helps to mitigate against the risk of using funds that are needed for survival to purchase Bitcoin which would harm your portfolio and These backup funds serve as leverage to minimize the risk of being overwhelmed by a necessity and having to prey on your investment in the event of an emergency.

Quote from: Joy- maker on Today at 11:18:01 AM

I Friend of my was telling me today the amount of bitcoin that he has store in bybit so far, that's why I intended to share this talk with everyone on this thread, As we talk about accumulating bitcoin and hold for a long period of time, let also talk about securing our bitcoin investment, because we can't only centralize our focus on accumulating bitcoin continuously, without also talking about how to protect our bitcoin investment for the long period of time.
Securing your bitcoin is crucial to protecting your investment, I came to understand that many investors expecially newbie still have their bitcoin investment store in a centralized exchange like bybit and binance and other exchanges, while there are storage options that one can use to secure and take control of their bitcoin investment, options like (hardware wallets , paper wallets and software wallets) why not get one of this wallet and secure your bitcoin investment rather than leave them in a centralized exchange were you don't have full control over your bitcoin investment.

What was your advise to that friend? It would've been better if you told us about your response to him and his acceptance or rejection of your advise.

It's important that we don't store coins in exchanges because exchanges are centralized and you don't have ownership over the coins stored there, and furthermore exchanges are subject to hack and your funds can be stolen in the process. They can also file for bankruptcy and drown people's previous funds.

People should uphold the acronym "NOT YOUR KEYS, NOT YOUR COINS", it's important we use non-custodial open source wallets like Electrum, blue wallet etc or better still use hardware wallet for greater security. The security of our coins should be our greatest priority as investors.