How to prepare for long term HODL - page 2.

Divinespark

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Quote from: Lucifer1010 on April 15, 2020, 08:26:37 AM

Quote from: Starfranko on April 13, 2020, 05:08:06 AM

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

Agree.. especially if you want to hold altcoin from new project do not miss any update from the project. But, i suggest hold only major altcoin. i'm holding only from top 25 in CoinmarketCap.

Only long-term investments should be made for the top altcoins in this market. If you hold a new altcoin in this market, it is suicide. A lot of altcoins have collapsed in this market and I know a lot of people are losing money trying to invest in them. The price of those altcoins has dropped 50-100 times in just a few months or a year, it's really scary to invest in new altcoins.

Lucifer1010

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>•❤️•<

Quote from: Starfranko on April 13, 2020, 05:08:06 AM

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

Agree.. especially if you want to hold altcoin from new project do not miss any update from the project. But, i suggest hold only major altcoin. i'm holding only from top 25 in CoinmarketCap.

Spaffin

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Quote from: maruf01788 on April 13, 2020, 09:56:39 AM

I agree with you. Research and patience is must needed for hold or investment. All of Alts coin are not perfect for long term holding.so need deep research where investor/holder wants to invest /hold his Money.

In any case, you need to adjust your portfolio based on the results of a cryptocurrency market research. But it is best to invest in those cryptocurrencies that do not raise doubts about their future prospects. Undoubtedly, Bitcoin and Ethereum are leaders among the most sought-after assets for investments, But if you make a choice in favor of other altcoin, then I would prefer to choose only those coins in which societies will be interested and which will be really used by certain companies, resources and people. One way or another, the strategy for the long-term storage of their assets applies to all cryptocurrencies.

maruf01788

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I agree with you. Research and patience is must needed for hold or investment. All of Alts coin are not perfect for long term holding.so need deep research where investor/holder wants to invest /hold his Money.

bussybuddy

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Enterapp Pre-Sale Live

In my opinion, we should choose the best altcoins in this market for long-term investment. It is the most important job in investing, and if you choose the bullshit projects to invest, I believe you will quickly lose and collapse in this market.

Eplus_Team

jr. member

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You have a good point . All we know that long term hold is risky so we should be knowledgable and think well the kinds of coin that we will hold because there are lot of coins that are easy to die so be carefull. We need also an extra income because our coin or capital will be like an sleeping giant it will be like your time deposit that you want for the right time to encash. And the most important thing is to be updated because all we know that the crypto price is move quickly so we need to monitor it to know when to sell your coin.

SacriFries11

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Quote from: Starfranko on April 13, 2020, 05:08:06 AM

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

It's very important to select the right altcoins to hold for long term in the market and not all can survive for huge drop of bitcoin. It's difficult to hold altcoins for long term and sometimes it will test you if you're going to sell it or not so in order to support and not be able to sell you're coins, you need a consistent income to support it. I'm holding altcoins that are platform connected or have a crypto exchange, I believe that it will be safer to hold rather than other platform in the market.

Russlenat

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Quote from: Starfranko on April 13, 2020, 05:08:06 AM

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration.

You are correct because I have experience this kind of scenario where I was left behind on the update and I lose the value of my token as there was a deadline, so I learn a lesson from that on not holding a lot of coins/tokens.

Quote from: Starfranko on April 13, 2020, 05:08:06 AM

If you want a long term hodl, hold few tokens you can always monitor their development progress.

I do hold major coins like Bitcoin, ETH, and BNB because these are the coins I believe will dominate in the future.
And it's easy to update on these three as they are popular, lots of article will show when there is a changes or an update.

Starfranko

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Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

Teinkle

newbie

Activity: 19

Merit: 0

Quote from: rdluffy on August 11, 2019, 10:08:40 AM

Totally agree with you

The only thing I want to emphasize is number 3

3.HODL Only Altcoins With Real Use Case

There's no better tip than this one, people and devs write some beautiful whitepaper, launch a coin and try to sell to another people, but they can't asnwer the simple question: What problem you coin will solve?

They only want to lauch a coin, not solve anything, so it's not valuable in a future

What you're saying is true, the best coin to hold at the moment are those coin with real use cases and with big supportive community, i invested in one of the best blockchain project in space the https://ilcoincrypto.com/ which i can say is one of the best altcoin to hold for long.

MUG1WARA

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I totally agree with all the statements you made and for number 2 I just add that everyone is more careful in choosing altcoin because most altcoins only have crap which will then die in the future

pixie85

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Quote from: itsv on April 12, 2020, 03:17:00 AM

some good suggestions mentioned here i think in case of wallets and especially if you are looking to hodl for long term then paper based wallets are good choice. Also always keep a backup at a separate location and try to password protect or encrypt the storage where you save your wallets.

You can make those so called paper wallets by engraving steel plates which makes them almost indestructible. I wouldn't go that far though.

There are far easier and still very safe ways to store your coins like using 2 different offline hard drives or a hardware wallet and an sd card. Chances that both of them get destroyed at the same time are pretty low.

The most important in my opinion is your mindset.

tvplus006

legendary

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To the Moon

Holding a coin for a long time to get a profit is much easier than trading. Trading takes a very long time, and in addition can lead to nervous breakdowns. But in order to hold the coin for a long time, you will need another source of income that will allow you to address your weekly needs.

kaneki007

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Quote from: ElmedoRator on April 07, 2020, 08:45:51 AM

In my opinion, if you want to hold for long term, you need to have a clear goal and a stable mentality. The current market is not stable and the price may collapse anytime soon, and you need to be mentally stable so as not to panic sell during this period.

It is very heavy if you want a long-term investment because the risk of price drops suddenly can happen at any time, and also do not be too greedy maybe if it is enough (within 2-3 years) to get a large profit then it is better to sell immediately. And also maybe FUD is very influential in this regard, it's better to avoid it and believe if the invested project will bring profit.

Ronyx

member

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I like point 1, that for long-term hold, of course we need to have another income to meet the needs, and if we don't have income and are cornered by the need, of course we will think of selling.

Romeotom

member

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Chainjoes.com

Stay holding because if you haven't other skills like trading mining, if you want long time holding then no need worry next news because this time more cheap price every coins. So do like best coin and take hold long-time hopefully you will makes good profitable.

itsv

full member

Activity: 532

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some good suggestions mentioned here i think in case of wallets and especially if you are looking to hodl for long term then paper based wallets are good choice. Also always keep a backup at a separate location and try to password protect or encrypt the storage where you save your wallets.

Bezobraznike

sr. member

Activity: 1274

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Good wallet, some money for investments, turn of the wallet, have a lot of patience and it's all what you
need. In case you plan to invest more, which is a good thing, and it's what I do, when you have money to
invest do that, whenever you can add more coins to your wallet!
Don't sell at top, try to buy when it's at bottom, we are not traders, we are holders. We wait much higher
top to sell, but every dip can be a good opportunity for adding more coins.

HatakeKakashi

hero member

Activity: 1274

Merit: 513

Preparing for hold longterm is need a lot of patience because it is not easy like for the holding their coins for few years .
They just need to use the money who are extra you have point on that because many people are using their all money and once they need to buy for their needs they sell what they bought even they lose more money so once you have plan to hold the coin for longterm you just need be commitment to your plan to get a huge profit.

oscarftw

sr. member

Activity: 573

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Quote from: Bitbtc8 on August 11, 2019, 10:05:16 AM

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.

After long time I'm seeing that opportunity never stay for long time. So after bought any coin, you should stay update in telegram group and notification on. You could turn on CMC app notification of your favorite coin. Although first one is my favorite another source of income. You couldn't hold it for long time until you have another source of income.

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