To hold long-term we must have preparation, it does not mean that the case is easy for holding coins. We must prepare mentally
we whatever happens must reach the target sale that we have set, the price will go down or there may be bad news come, we
should not be affected by these disturbances. The following we must have income from other places to finance our daily lives while
waiting for the coins that we hold until the target. And the last if it reaches the specified limit have not reached the selling target,
we must have the courage to make a decision. Will we continue to hold the coins or decide on the cut loss.
Topic: How to prepare for long term HODL - page 19. (Read 8786 times)
Earlier I used to hold some of the altcoins for medium to long term (before deciding to dump them one year ago). There are some complexities which are unique to the smaller coins, that come to the picture while holding them. The first one is that the storage can be a recurring and irritating issue. Holding them in exchanges is not a good option, so you need to install the desktop wallets for everyone of them. And in case the lite wallet is not available, then you need to install the full wallet, which can cost a lot of bandwidth and time.
Another issue to deal with is that these altcoins can have very frequent wallet updates. Therefore you may need to update your wallet every now and then (this was an issue that I faced while holding altcoins such as Veil and Deep Onion). Sometimes the wallet update is mandatory, due to the implementation of forks. This can be a very tedious process and it was one of the reasons why I decided not to hold many of these coins.
Another issue to deal with is that these altcoins can have very frequent wallet updates. Therefore you may need to update your wallet every now and then (this was an issue that I faced while holding altcoins such as Veil and Deep Onion). Sometimes the wallet update is mandatory, due to the implementation of forks. This can be a very tedious process and it was one of the reasons why I decided not to hold many of these coins.
One more advice from crypto expert.
Only invest money that we can afford to lose if we want to invest for a long term. Because crypto investment is so agile our assets can be turned to 0 in short time and also can mulitplied in a short time also.
Only invest money that we can afford to lose if we want to invest for a long term. Because crypto investment is so agile our assets can be turned to 0 in short time and also can mulitplied in a short time also.
For me, long-term hold is only bitcoin. The most reliable coin. If you still talk about altcoins, then for long-term hodl is most suitable ether. As for the preparation, you have described everything correctly. If you follow these rules and choose good coins, the long-term hold will be successful.
Yes, but there are some other crypto investments that are good for long term investment and not only just bitcoin. Ethereum is indeed one of those. If you will only study the flow of the market you will know altcoins that are good for long term investments.
I agree with you that there should be a plan in doing something like a hold coin for a long time. In the first point, I strongly agree that another source of income to add to the coin that we hold or buyback when it goes down.
In the second point maybe I would choose a really good coin for the future like ETH and BTC. Because their presence is supported and a large number of communities to make demand and supply balanced.
But I will reduce the long term if the market is experiencing a bad state where all the currencies are down and not the time to invest long term.
In the second point maybe I would choose a really good coin for the future like ETH and BTC. Because their presence is supported and a large number of communities to make demand and supply balanced.
But I will reduce the long term if the market is experiencing a bad state where all the currencies are down and not the time to invest long term.
yes you are right OP to make a long term investment we have to prepare a few things like everything that has been mentioned OP above. I will add besides we must have another job. we must also have a strong mentality that is not easily influenced by FUD. and it's also not easy to panic to sell when prices fall. ups and downs in the price of coins in cryptocurrency is common and we from the beginning entered cryptocurrency must be prepared to bear this risk.
And don't forget, mentally prepare and manage your emotions well. In conclusion, all actions taken for long-term investment must be based on careful analysis, not just because they are carried away and go along, it means your position is not strong enough to defend your decision to hold the coins and tokens. Strong basic knowledge and analysis techniques both fundamental and technical must always be upgraded, don't miss it or you will miss an important opportunity.
very good advice that you convey in your opinion because there is a huge risk involved in investing in crypto or altcoin and it is true that you convey our confidence and patience is the best capital in investing with crypto or altcoin and of course we must be clever in take advantage of every opportunity we will get in investing 
For me, long-term hold is only bitcoin. The most reliable coin. If you still talk about altcoins, then for long-term hodl is most suitable ether. As for the preparation, you have described everything correctly. If you follow these rules and choose good coins, the long-term hold will be successful.
BTC is a forever long term HODL coin so most of the investors are concentrate this coin. But huge marketcap also suitable for long term so we make good profit for later. Nowadays BNB is a good growing coin in this year so many investors are invested long term so I prefer minimum 2 to 3 coin because If we split to invest crypto our investment growing louder in future economy.
I think the thing that needs to be prepared when we want to invest for the long term is to be patient seeing price fluctuations in the market. Prices on the market are always volatile and sometimes people who are impatient will sell tokens or coins when prices are down even though prices are down or up is common thing in the market.
For me, long-term hold is only bitcoin. The most reliable coin. If you still talk about altcoins, then for long-term hodl is most suitable ether. As for the preparation, you have described everything correctly. If you follow these rules and choose good coins, the long-term hold will be successful.
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.
sometimes people forgot about number
3.HODL Only Altcoins With Real Use Case
because alts with real use case is the best altcoin for long term hodl, people just follow the hype and thats really big mistake if we want to hodl an alts for long term
regards
And don't forget, mentally prepare and manage your emotions well. In conclusion, all actions taken for long-term investment must be based on careful analysis, not just because they are carried away and go along, it means your position is not strong enough to defend your decision to hold the coins and tokens. Strong basic knowledge and analysis techniques both fundamental and technical must always be upgraded, don't miss it or you will miss an important opportunity.
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.
All of the information that you have enlisted are precisely correct, especially the first one on the list because when you are about to hold coins for a long term you need to have another source of income for you not to get empty handed or bankrupt, and you are not that sure if the coin that you have hodl are good for long term or will give a huge profit. 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.
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.
Yes alternative income is really needed when we hold altcoins because there is a high chance it will last longer before prices go up.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.
Quote
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.
Good to hold crypto curency is what people really use is a real working product that helps people. And of course there are even better plans that will attract more investors in the future, And you can read them in their white paper. 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.
the roadmap doesn’t help you figure out how much time we need. the roadmap is just a guide. Market Makers will tell us about market conditions and development time 
Anyone who wants to HODL should always make plans ahead of time hence here roadmap might be a handy. I am saying this because you have to target when the market falls and invest your money at that cheaper rate while you then begin to wait for the price to increase. If not like then you will be taking bigger risks. Some people make the mistake of investing at the peak price or something close to that and before they know what’s happening the price is already going down and they are losing their money. So anyone that is interested in HODL should always plan ahead of time so they don’t miss out.To hold on for longer i hold cmc where the top altcoins encourage me more.
Everywhere CMC acts as a helpful reference hence no wonder for guiding us for deciding which coins for long term holding. Still, I personally advice anyone to go with only bitcoin when it comes for "real long term" like for decades.This takes maintenance and patience
You need to update the cold wallet occasionally
the roadmap doesn’t help you figure out how much time we need. the roadmap is just a guide. Market Makers will tell us about market conditions and development time
Anyone who wants to HODL should always make plans ahead of time hence here roadmap might be a handy. I am saying this because you have to target when the market falls and invest your money at that cheaper rate while you then begin to wait for the price to increase. If not like then you will be taking bigger risks. Some people make the mistake of investing at the peak price or something close to that and before they know what’s happening the price is already going down and they are losing their money. So anyone that is interested in HODL should always plan ahead of time so they don’t miss out.To hold on for longer i hold cmc where the top altcoins encourage me more.
Everywhere CMC acts as a helpful reference hence no wonder for guiding us for deciding which coins for long term holding. Still, I personally advice anyone to go with only bitcoin when it comes for "real long term" like for decades. 
Having another job is very important because we will be able to earn money. So when we are in long term investments also have productive money from other jobs.
This is necessary for every long term holder, a job or a business that would generate an income for finance your daily expenses in life. You can't force the market, it requires timing and long term hold does not have a specific number of months where we can sell and enjoy our profit, sometimes it will end us a loss or if not, it would make us wait for more than a year like those who invested in 2017 that until now they cannot still sell because their assets are down big that they might think they already loss due to the big loss of value.
Useful advices. And yeah, you must have other source of income than to just rely only to this crypto incomes. The market is unstable and it is not wise to fully depend on this alone. And also, choose useful altcoins only. There are a lot of altcoins that can be selected from the market but pick only those who are trusted, established and had a useful goal in crypto markets. As we all know there are many altcoins that are left behind.
And if I may add, regrets and greed. Set them aside in crypto investing and trading. That will just make your goal ruin.
And if I may add, regrets and greed. Set them aside in crypto investing and trading. That will just make your goal ruin.
Long-term investments are a great opportunity to make future profits. But some things should be prepared before we decide to invest long term. I agree with your words and this can add knowledge to new people in Crypto want to invest.
Having another job is very important because we will be able to earn money. So when we are in long term investments also have productive money from other jobs.
Having another job is very important because we will be able to earn money. So when we are in long term investments also have productive money from other jobs.
From the very beginning, I've always thought that the long term hodl has been foolish.
To me, long term hodl is the same thing as putting your money in a bank account and trying to get interest.
It just isn't effective when compared to actively investing.
And so far, I have been right.
I have gained far more capital and grown my portfolio much larger than I ever could just hodling.
You have to realize, that when you hodl or just put your money in a bank account, it just sits there.
Instead you could use that capital to increase your equity.
Even just the basic set percentage buy low sell high method will get you more than just hodling.
To me, long term hodl is the same thing as putting your money in a bank account and trying to get interest.
It just isn't effective when compared to actively investing.
And so far, I have been right.
I have gained far more capital and grown my portfolio much larger than I ever could just hodling.
You have to realize, that when you hodl or just put your money in a bank account, it just sits there.
Instead you could use that capital to increase your equity.
Even just the basic set percentage buy low sell high method will get you more than just hodling.
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