Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
AbuBhakar
on 30/05/2025, 07:17:10 UTC
Investment in long term and holding for long term are very good but to do it well, you must have proper start that has many necessary conditions behind and if you lack them, you will very possibly get big troubles later.

That is why you don't start holding and investing for long term if you're not ready to do it not just financially but also in other aspects. Being physically healthy so you won't just use your bitcoin for hospital bills. Being mentally prepared so you won't be stressed about bitcoin's volatility.

Then, even if you determinantly with your plan, want to invest and hold, you will simply not be able to do this. Oppositely and unfortunately, you might have to sell when you don't want to do that deeply in your mind, and do it for losses.

Before holding bitcoin for long term, you should plan ahead about what can happen in the future. That will only happen if you have no funds to spend during those occassions. Before investing into bitcoin, you must have a separate savings to use so your holdings will not be easily compromised.

Another thing is storing your bitcoin safely for holding, and if you do it wrongly, your holding practice can turn to be a nightmare as well.

Just like any other investments, if you keep it wrongly, your hard work could become worthless if someone stole or you lost it. Keeping your bitcoin safely is the most basic task of a hodler. Your best option is to put it on a hardware wallet and make 2-3 copies of its secret phrase then put it on unusual places that you won't forget. A non-custodial wallet is your alternative to a hardware wallet but you should be wary on the links you're clicking. If your device is compromised, hackers could access your wallet and drain your bitcoin inside.