Is waiting the right thing?

I've been seeing this guy for five months now and he makes me really happy, but we aren't technically together properly, which he told me is because he doesn't want to rush things as he's trying to get back on his feet after a hard couple of years. I don't mind waiting as I understand and he really is great, I'm just a bit nervous about if he really does want to have a relationship at the end. He's used to long term things unlike me so I think maybe I'm just nervous because its new to me, but I think I'm starting to fall for him and I'm scared of being hurt. He's awesome and I really don't want lose him, so am I doing the right thing by waiting? I don't care about the status, it'd just be nice to have some security. Sorry for the massive paragraph btw, :')

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