Quote from: BitBakerr1 on January 26, 2025, 12:47:46 PM

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.

1. Backup funds.
Make sure you have an emergency, reserve and float funds, this funds will help you when ever you are in an emergency and you don't have finance which is what is needed, instead of dipping hands into your Bitcoin by selling it you can just use your backup funds to settle the emergency.
Having a backup funds will reduce the emotional pressure to sell during market downturns also.

2. Develop a Strong Conviction.
Understand that Bitcoin investment is one of the best investment right now in the world and holding Bitcoin for long term will be more profitable, and always remind yourself that Bitcoin is still growing and selling now means you have lost the future benefit of enjoying the big price.

3. Set a Clear Time Horizon.
Make up your mind and decide how many years you want to hold your Bitcoin if it is 5, 10 or 20 years, and tell yourself you will reach that time you have set for yourself, see your Bitcoin as an investment.

4. Surround Yourself with Like-Minded People.
Surrounding yourself with people who are also holding for long term are very helpful, since you are in this forum you can always visit thread where they discuss and encourage long term Bitcoin holding.

5. Stay Away from Daily Price Movements.
I'm not saying you shouldn't check the price movement of Bitcoin but don't do it daily to avoid being tempted, you may set a 10 years plan for holding and in the next 5 years you saw that Bitcoin has increased dramatically in price now seeing how big your money is every day may tempt you to sell.
Check but once in a while.

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.

the way i do it, is i live in a country where i couldnt even buy a carrot with btc
atleast im not aware of anywhere that would take btc as payment for general stuff