Topic: How to prepare for long term HODL - page 11. (Read 8767 times)
I agree with the statement that not all altcoins are on long-term detention. because only a few altcoins are good for long-term hold. we must be really smart and careful in analyzing a coin before we plunge into it
Don't fall into the traps of fear created ad hoc by the mainstream media. Only by looking down can we avoid mistakes that we might regret in the future: do not sell thinking that we are about to lose everything.
Exactly, we should stay strong in the market after purchasing because before purchasing we should research a lot about the companies and their developments. Even though the price of the coin dropped, don't bother much about it. Long term strategy will always help you to make some decent profits.
Don't fall into the traps of fear created ad hoc by the mainstream media. Only by looking down can we avoid mistakes that we might regret in the future: do not sell thinking that we are about to lose everything.
Exactly, we should stay strong in the market after purchasing because before purchasing we should research a lot about the companies and their developments. Even though the price of the coin dropped, don't bother much about it. Long term strategy will always help you to make some decent profits.
Don't fall into the traps of fear created ad hoc by the mainstream media. Only by looking down can we avoid mistakes that we might regret in the future: do not sell thinking that we are about to lose everything.
Exactly, we should stay strong in the market after purchasing because before purchasing we should research a lot about the companies and their developments. Even though the price of the coin dropped, don't bother much about it. Long term strategy will always help you to make some decent profits.
I think what needs to be prepared when we are going to invest long term is patience and also emotional stability. Price movements in the market are very fast moving, without patience and emotional stability, we will easily panic and be able to sell our tokens at low prices. In my opinion, the best way to buy tokens or coins that interest us and store them in our own wallet and forget about it for several years
If you want to forget when investing, you should only choose some safe coins like Bitcoin for long term investment and will greatly reduce your risks in the near future. At this point, any investment should be considered multiple times and the downtrend in recent months has made things more difficult to predict. One way or another, you must always manage your assets the best because if that coin is not able to rise well, your profits will be greatly reduced.Currently, I recommend holding for at least 3 years and if during that time you cannot make a profit then you should give up and switch to investing other coin.
Don't fall into the traps of fear created ad hoc by the mainstream media. Only by looking down can we avoid mistakes that we might regret in the future: do not sell thinking that we are about to lose everything.
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
this is the top priority as a long-term holder, I see many people holding altcoin but they don't have other jobs, I work as a trader and also work part time sometimes every profit and income that I buy little by little altcoin that I want to invest in the long termEither in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
my advice for holders is better not to hold altcoin for too long if you just hold and wait especially you don't work at all to get other income
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
Your right, HODL for a long time is not easy at all, mostly no other source of income as it stated above is very bad, because they are some, volume of demand on alt-coin is very low and is not much courage to hope on it, as a daily means of income. Secondly is good to have other means of income as a delay need and also invest on cryptocurrency as the case may be.
I think what needs to be prepared when we are going to invest long term is patience and also emotional stability. Price movements in the market are very fast moving, without patience and emotional stability, we will easily panic and be able to sell our tokens at low prices. In my opinion, the best way to buy tokens or coins that interest us and store them in our own wallet and forget about it for several years
we should not totally forget our assets, its really dangerous if there are important update and we miss it. I am agree that we should not checking its price regularly but we should not oftenly or our emotion and psychology could be stress when its value not increase yet. But if we hold major coins such as bitcoin , eth , ripple and many others we could feel comfort when we leave it on our wallet for several years.
I think what needs to be prepared when we are going to invest long term is patience and also emotional stability. Price movements in the market are very fast moving, without patience and emotional stability, we will easily panic and be able to sell our tokens at low prices. In my opinion, the best way to buy tokens or coins that interest us and store them in our own wallet and forget about it for several years
Its definitely not going to be easy for those who plan to hold for long term and still use crypto as their daily earning gateway, they will always stare at the values of coins everyday or time to time, it will be less easier for those who have other life jobs, i guess that hard part is almost over now, 2020 is around the corner
Before investing in crypto currency, you should be prepared to lose some money, then you're mentally stable to continue with the game of crypto currency.
Thats true its not easy to hold for long term because we'll never know when we can take profit. There's no assurance at all hence we must not invest the money that intended for other important things so we wont be tempted to sell incase of emergency especially if the market is not ideal to take profit already.What op's said is all true, if you can follow his advise you'll be on the right path on how to hold effectively.
Before investing in crypto currency, you should be prepared to lose some money, then you're mentally stable to continue with the game of crypto currency. And the number three you mentioned i thought was very practical. The use of altcoin' s features to be in a very prominent place in the investor' s eyes, they find it highlights, they want to learn and invest in it. And coin will have great potential in their eyes.
I would say that you should buy a ledger wallet, store your passwords and secret phrases on paper, and just leave it somewhere you do not have access to for a year or more. So you would not even think about selling your coins.
"Just leaving it somewhere" is OK, if you could remember all the passwords and pin numbers. Normally what happens is that when you don't use a password for a long time, you tend to forget it. And writing down the passwords or sharing them with someone (either family members or close friends) is not a very safe option. The main issue in storing your coins in hardware wallets is not with someone hacking the wallet and stealing your coins. The major issue is the user forgetting the password and then losing the access to the coins.
Just to add on #1 of your list; having another source of income through maximizing different investment platforms would be the ideal scenario. Long-term investments require one to at least diversify your investments so you could use time to your advantage.
Take note: HODL does not require one to invest long term. As long as when you see that the initial price is higher when you purchased it and you would realize income instantly, then do not be greedy and consider cashing out at least 40% of your total investments.
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
For a long term holder it will be best that you are using the extra money of your wallet in order to make sure that you can hold for countless of years. It is like a saving so you can play with it safely without worrying of your daily needs.
This is the common problem of other holders, they are using their main money for investing so most of them cannot wait for the right time to sell as they will surely need the money if they are out of it for their daily needs. What I can add to your suggestions, is they need to be patient and make sure that they will not listen to useless fuds that are spreading everywhere so they can sell their investments in the right time.
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
-snip-
This is about how you can be a good long term holder
-snip-
Only Bitcoins can be stored for a long time, because this is the very coin that you can trust your capital for a long time. Some altcoins have a good chance of growing in the long run, but there is no guarantee that this will happen. But Bitcoin will always have prospects for growth.
Agrees to this. Maybe I can consider eth and xrp for long term but I wouldn't really bother to hold some altcoins and even monitor them everyday. I think only bitcoin can be safely hold for a very long time due to its massive use cases already. I know it will be here for a long time even 10yrs from now. Who knows how much price it will jump right? Maybe 10x its current price now or more.
Definitely I would go for bitcoin also for long term holding. Alts come and go, yet bitcoin still holds its ground up until now. We may experience the up and down movement but it is the only market that sustain its position. But of course, you need to be prepared for what the future may come also. We have no assurance that everything goes well with your investments.
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
-snip-
This is about how you can be a good long term holder
-snip-
Only Bitcoins can be stored for a long time, because this is the very coin that you can trust your capital for a long time. Some altcoins have a good chance of growing in the long run, but there is no guarantee that this will happen. But Bitcoin will always have prospects for growth.
Agrees to this. Maybe I can consider eth and xrp for long term but I wouldn't really bother to hold some altcoins and even monitor them everyday. I think only bitcoin can be safely hold for a very long time due to its massive use cases already. I know it will be here for a long time even 10yrs from now. Who knows how much price it will jump right? Maybe 10x its current price now or more.
Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
Study and research about the token that you are going to hold in the market. Pick a recommended bitcoin wallet or wallet that you are going to use you could easily check a token in its price chart if the token is at its lowest price in the history if it is it is a good opportunity to invest also I would only recommend popular altcoin token and bitcoin as the market for other altcoins was already dead. This is about how you can be a good long term holder
1. You must have another source of income
Either in crypto space or outside crypto space you must have other source of income,there was a time when i used to rely on coins i hold for monthly income but most time they failed me because some altcoins takes more than a month to add value. You can learn trading or find a better job to get constant income for your daily needs.
2. Not all altcoins are good for long term holding
Some altcoins are too weak to have better value overtime,these coins only add value to price once in a blue moon,WHY?because the power of demand is too low and they have no working product,i belief that working product is what makes a coin have many more investors
3.HODL Only Altcoins With Real Use Case
There are different categories of coins with use cases,many use case are weak use case,for example using fashion designer to back a token is a weak use case to me because it means you can only use the token to buy the designer wears and many will call this a real use case? no it wont do very well.
Make sure that the real use case of every altcoins you hold will be very reasonable,the products backing them up must be something that is different and will catch the eye of investors,the usefulness must be outstanding .
4. Stay Updated Always
Opportunity comes but once as many know it,so always stay updated about crypto,read crypto news online and keep tracks on your altcoins so that you wont miss future updated or even token swaps,some altcoins i hold have already switched to MainNet and im glad i dont missed the opportunity,you can use blockfolio app to track your altcoins.
Altcoin season is what many are waiting for,even new projects are waiting for altcoin season to return before they get listed on exchanges,im sure of one thing and that is good things dont come easily,today is bitcoin turn to reign and one day altcoins will have its day as well.
I agree not all good altcoins to hold especially for long-term investments. But there are some altcoins that I think are good for long-term durability such as XLM, XRP, BNB, ETH, LTC and BCH. Besides the altcoins I play daily trades.
I think every investor will have a different choice when investing in the long term because these are old coins so the price increase will usually occur very rarely during this time. In my opinion you should look for some new coins that have just appeared this year and learn about that project before long term investment. Currently some new coins BTT, KAVA, ATOM, MATIC, TOKO are just appeared in this year and have great potential if hold.Of course these are very risky options and you should consider 2 times because if the market tends to fall, you will not be able to make a profit in investment.
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