Don't lock your tokens away - page 2.

suzanne5223

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Quote from: AbuBhakar on March 04, 2022, 10:46:42 AM

Quote from: suzanne5223 on March 04, 2022, 10:41:38 AM

Locking your token or coin away is not a bad idea but the question is why would hold something you think is an asset that is worth holding for the long term and never following the project updates or add their telegram channel for you to be aware of some important event.
Honestly, this is one of the dont's for every crypto investor.
I am holding a Metaverse project token since the year 2017 and I still have their telegram update and ongoing activities.

Probably to not be tempted to sell it.

You have a point but locking away crypto still doesn't prevent the habit of not being tempted to sell crypto if the coin holder herself cannot be disciplined enough to have genuine purpose and decision about her holding.

Quote from: AbuBhakar on March 04, 2022, 10:46:42 AM

Everybody learned there lesson of holding on Bitcoin and Ethereum which will give huge profit if people bought on early stage of this coin didn't sell until now. Many early adopter already become a millionaire by just forgetting they have Bitcoin and other altcoins then just opening now after watching the news that crypto is on all time high.

The early adopter is not the only millionaire we have and the last time I checked most of the crypto millionaires we have now are those who make good proper use of the opportunity the market present.

Quote from: AbuBhakar on March 04, 2022, 10:46:42 AM

There's a high chance that you will sold already your holdings if you will check it regularly especially if the price already grow more than 100% of your initial investment.

Agreed.

magneto

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

A good project should always leave the bridging channel open from old to new tokens.

But yes, you should definitely keep in mind exactly what is happening when it comes to market movements.

Crypto is super volatile even from a fundamental perspective, let alone price, so you want to constantly be re-evaluating your choices and decisions.

livingfree

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not all tokens will experience that, locked by the developer after we haven't seen its development for a long time. And that's the risk we are always passive and don't see the development of assets that we get by hunting for prizes.. and I'm sure a lot of them lose assets, don't they. because the price has dropped but can't be exchanged again..I agree with you, holding too long without seeing developments is the same as storing trash in our wallets.

It doesn't make sense of holding a token for long if there's no longer development.

I'm the same with someone who has done this and missed the profit when it has reached the peak and all time high because I wasn't able to look at it.

And the scenario when exchanges are about to delist it, and you're that type of keeping it there, you really have no choice but to just let it pass if you didn't withdraw it.

A few times of looking at it won't hurt and disrupt your day.

kentrolla

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It's must to stay updated and active on the communication channels of the particular token which we invest into because we have seen some coins have changed the chain or even relaunched themselves with new names, i would say there was a token named GMD which was swapped with a token named COOP at approx 1:4 ratio and then again it was changed back to new GMD, some bounty hunter who decided to hodl the token were not aware reached out when it was too late to do anything. When deadline was breached.

It's better to stay active on telegram groups of the particular token. As an investor or someone who is hodling the tokens it's a must to stay updated on all sort of news and updates about the token's performance as well to avoid being scammed as well. I would say don't lock any tokens for an extended period of time.

Darktongue

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

You are right even though I lost some money to hold for a short time from an exchange. Exchange was delisted the tokens for their swap, then I had to pay a withdraw fee. Most of the time, holding or staking rewards is always risky in my experience. Some scam projects want to increase supply by holding your tokens. Once I missed the binance delisted news, so a simple piece of advice for crypto is "Inactive members are always losers".

Webetcoins

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Holding doesn't mean that you shouldn't look. It means that you shouldn't sell. There is a big difference between investing into something and not selling it for 10+ years, and buying something and not looking at the price for even 10 months let alone years. If you have a portfolio, then it is advised to check the news regarding your coins, each of them.

I personally get away with simply just joining their subreddits and since reddit has millions of crypto users, it allows me to check them very carefully. I have been doing this for a long time and whenever there is a new thing happening, it has helped me immensely to catch up before it even happens.

nakamura12

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Not all tokens are like that but it's true that some tokens are like that. When you hold a token and leaving or not checking at all is not a good habit as I call it. It is much better if you check the token's price movement even if you didn't check your wallet on how much your token valued in fiat once you know the token's price at the moment. If you leave it and don't do anything is the same as abandoning the tokens you planned on holding for a chance to earn profit. Not checking at all means that you might miss a trend or opportunity to earn good profits.

DevFile90

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You might miss some good opportunities if you hold your coins without constantly following it's updates, ATH can happen at any time it doesn't have to be in bull season for that to happen, also there are coins that lose value until there is no more volume and liquidity available, you don't want to get caught in that web.

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

...Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

I think the right thing to say is ...be responsible for your investment, i have seen in few occasions when some investors will come to make inquiry about a token they hold, apparently the project have moved to a new chain for quite some time and they are not aware, unfortunately the window for swapping to the new token has elapse long ago, at the end they lose their investment out of negligence, i consider such behavior to be lazy, most projects have social media handle to keep you updated about what is happening, and such big swapping news are often announce in all their social media accounts and a reasonable time is given for all investors to do what is required.
That's not hold, it is laziness, a true holder will at least keep up with update just to be informed.

Doell

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Useful advice for beginners who don't know project development, not even just beginners. Many bounty hunters are involved in hunting so they don't often see too many details of their tokens in an address,the possible cause they don't often see development details is that too many tokens are collected even to the point of useless tokens. The most important and mandatory thing is that long term token holders every week have to do some research, that's it.

darewaller

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Quote from: asyakashi on March 05, 2022, 06:01:17 AM

Of course, you're right with holding a coin and then being forgotten for a really bad time.
We hold the coin for as long as it doesn't matter as long as we monitor the progress of the coin project,
because there must be a lot of changes in the next few years or even
what I really experienced they are not strong in the extreme market.
What I experienced was when I forgot it even left them only a year ago I came back their community
died and I regret why I didn't sell it for a small profit. I'm sure this hurts as much as you feel.
From this I really don't want to hold the old coin in fact I will only hold it for
a week if that means there is good news in the next week.
Small profits are not a problem as long as you don't lose the assets you have bought.

Why regret when your loss is only small? but it makes sense to me after you said that "it's better to take small profits than to totally lose them". It sucks when you're only feeding the scammers and not getting anything but why won't you hold an old coin for too long? Old coins tend to be more safer and they are already on their full phase, I mean they will hardly make any changes anymore that can make you lose your coin if ever you are not monitoring it.

If there is good news with them, that's fine and their value can increase because of it but don't worry if ever your not there the moment that happens because the increase could still continue for a longer time.

D ltr

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

thank you for the info, you are right for holding the token for too long, without following developments, the tokens we hold will make losses,
there are a lot of tokens swapped to new contracts and i missed them, and they are just antique tokens for now in my wallet

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

Good advice that is why I'm just holding only the top coins.

I'm only holding the top coins because I don't want this to happen to me. I still remember a time where I got a token from bounty campaign and fortunately the token got a value. I decided to hold it for quite some time and forgot about it until I remember that token and I found out that they already changed their chain and I forgot about it and didn't exchanged it until now. Right now I don't know if the tokens still has value yet but I chose to forgot the tokens already luckily the value isn't that high (only 2 digit value I think).

For me, its easier to be updated if you will just focus on the top coins as you will see the updates immediately in the internet because of their popularity that is why I chose to HODL just the top coins. Lower risk, lower reward and you can see the updates easier as websites will post an article about it.

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Quote from: ?? on ??

Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.
Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

Actually the problem here is not holding, but this is the fault of the individual holding the coin for not following every update made by the project developer, holding does not mean we have to just forget the coins we hold, but it is also mandatory for us to stay active on the project channel so that Don't miss important information.

Not all coins and tokens are worth HODLING Bitcoin and only a few coins and tokens have passed the criteria on holding a coin for a long period of time the token and coin that you plan on holding should prove themselves that they are worth holding, but for some coins, you have to follow their development and only hold when you are 100% sure that it's really worth holding and you have a guaranty that the price will increase ten fold by just holding it.

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I know we have determined newbies among us this days that have developed a strong holding (HODL) habit in themselves, I have an advice for you as a crypto holder and I hope you listen.

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

I am a holder as well and i can really tell that as a holder you must have a consideration and awareness when is the right time to dump in order to save the profits, because to be honest not all the time any token that you hold that making progress can bring your portfolio alive forever.

In fact even bitcoin and ethereum cannot because of the cycle of the market, so how much more alts?

And the sad fact about alts is they ended into shitcoins. Wherein you don't know if you have chance to regain your gains in it once you missed the opportunity to dump.

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

Do not hold your tokens for too long without looking back,

While i will embrace or concord on your statement is that some token don't have nice project and for the process of holding it, it can die off without your explanation or knowledge because of bad project, when you hold token you don't have to feel relax or have specific duration it will last before you withdraw or convert to something ease.

Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

The best option is to be monitoring your token if it's actually in progress in the project or not, you can keep it for long time frame base on it development or propagation, so when it turns negative you can swap to any coin.

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Quote from: $anounimus$ on March 05, 2022, 06:57:02 AM

In my opinion, every cryptocurrency is a high risk, so be prepared to lose. Look for one with fundamentals so you don't have to worry about exchange pricing or market swings. Holding is for trading, even if it doesn't always feel like it. When the crypto market is flourishing, the profit potential is unfathomable. However, if you want to put an end to your emotional roller coaster, return and buy more at cheap prices and sell high.

Accept this and also invest only what you can afford to lose because, in the world of cryptocurrency, anything can happen. We don't know if the coin will drop massively in value or if you will make a profit, but you should be prepared for anything. Emotions are a major issue when it comes to cryptocurrency investing, as you are likely to experience them if you are losing money. However, with time, you will be able to overcome them. On the other hand, you should double-check the channels, pages, or any other line of communication of the coin in which you are investing so that you are fully aware of what you are getting yourself involved in.

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In my opinion, every cryptocurrency is a high risk, so be prepared to lose. Look for one with fundamentals so you don't have to worry about exchange pricing or market swings. Holding is for trading, even if it doesn't always feel like it. When the crypto market is flourishing, the profit potential is unfathomable. However, if you want to put an end to your emotional roller coaster, return and buy more at cheap prices and sell high.

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Every hold on a coin we have to monitor the development of the project because they are always there changes for the future, and this is very often found and many investors feel aggrieved because of this problem, so to store coins in the long run it is better to just choose potential coins because they very rarely make changes to their projects.

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Quote from: MidNite36 on March 04, 2022, 08:40:19 AM

Do not hold your tokens for too long without looking back, I have lost some this way because later they move to main chain running on separate blockchain, imagine if you decide to check the progress of that project only in 2024 and you see that you've missed out on swapping your old tokens to the new coin..

Of course, you're right with holding a coin and then being forgotten for a really bad time.
We hold the coin for as long as it doesn't matter as long as we monitor the progress of the coin project,
because there must be a lot of changes in the next few years or even
what I really experienced they are not strong in the extreme market.
What I experienced was when I forgot it even left them only a year ago I came back their community
died and I regret why I didn't sell it for a small profit. I'm sure this hurts as much as you feel.
From this I really don't want to hold the old coin in fact I will only hold it for
a week if that means there is good news in the next week.
Small profits are not a problem as long as you don't lose the assets you have bought.

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