Will this work out?

So I just got involved with a guy. We jumped into things too fast and it kind of stressed us both out. And so he told me that we should go back to the time when we were both happy and not stressed which was when we were basically just hooking up. Tbh I wasn’t happy during that time because I didn’t think he would develop feelings for me considering he hadn’t been involved with anyone since his last experience which ended badly. So when he told me he really liked me it was a big step for him and I knew I struck something in him. However we jumped into things really quickly and I think he got scared. He has emphasized that he likes me a lot and would do nothing to hurt me. He told me he just isn’t mature enough for a relationship (in terms of the responsibility and the work of it I’m assuming) but that he wants to pick this back up in the future when he is ready. I really like the guy and I told him I’m not gonna be his “fuck buddy” which he agreed that what we are now isn’t a “friends with benefits” type of relationship. I guess my question is whether or not I am wasting my time waiting for him to mature? I’m worried that he is just keeping me hanging on but at the same time I know he doesn’t want to hurt me so why would he? I guess time will tell but Idk if I should move on or support this? I really like the guy and I don’t even consider flirting or hooking up with anyone else so that’s why it’s hard for me because he is not interested in doing that either. But I would like to get some insight or another perspective of what is going on, what this relationship is right now and if this is just going to fail in the end.