Topic: How to prepare for long term HODL - page 21. (Read 8786 times)
I think the last point is the most important. Staying updated saves lots of loss in situations where a sudden market reversal happens. If an investor isn't updated on market situation bagholding is inevitable. Long term hodl in alts not adviceable holding Bitcoin is the best trade alts.
Preparing for a purchase and long-term storage is not difficult, just create a wallet and keep a private key from the wallet in a safe place. It is more difficult to choose the coins that you plan to purchase and how to distribute the budget between the coins that you will buy. I prefer to keep the bulk of the amount in BTC but not more than 50% and invest all other funds in other coins.
You have properly updated and enough conditions for a person to be able to HOLD the Altcoin elements, I will consult and apply the things you mentioned to avoid losses when participating in this market, thank you very much for sharing.
One thing that you must know to buy altcoin for hold long-term, don't put your money to buy at the same rate. I mean after we have decided what coins that good to invest in, let's buy it gradually until we have the cheapest price. Also, you must have good money management to do it.
In addition we should always buy small like 6% during ICO or IEO and after that we can go for another round of buy to hold like 12%, this will only help the buyer to stay safe without any oanic, this has happened to.me severally and was anke to contains it because of my carefulness which everybody should know. I buy tokens that has a workable product behind them.I think with the arrival of IEO on the market, long-term investments have become relevant. Why? Yes, because you go to Binance, invest in IEO, get x2.5-5 and gradually increase your capital. Replenish your BTC portfolio. It makes no sense to freeze your asset for 5-1 years. If we say investing 1,000,000 you will receive 2,500,000.
One thing that you must know to buy altcoin for hold long-term, don't put your money to buy at the same rate. I mean after we have decided what coins that good to invest in, let's buy it gradually until we have the cheapest price. Also, you must have good money management to do it.
In addition we should always buy small like 6% during ICO or IEO and after that we can go for another round of buy to hold like 12%, this will only help the buyer to stay safe without any oanic, this has happened to.me severally and was anke to contains it because of my carefulness which everybody should know. I buy tokens that has a workable product behind them.
I don't recommend a very long HODL. HODL should only for your altcoins that are 10%-20% of portfolio. Then the rest should be a short term like half a year or a very active swing trading. Everyday there is always an opportunity in the market so use it to your advantage and that also enhances your experience in trading. Like they said, patience is a virtue but just waiting for everything does not give good result because in order to achieve something you need to make effort.
the way I use to invest in the long run with some potential altcoin, besides that I also don't forget that holders are required to always monitor your investment so you will know what actions you will take when your coins go down / prices go up.
If you invest into any project, there is no reasone to monitor constantly. You should focus on how the company full fill the roadmap and how price respond to main stages. 
the way I use to invest in the long run with some potential altcoin, besides that I also don't forget that holders are required to always monitor your investment so you will know what actions you will take when your coins go down / prices go up.
You don't have to monitor always by just looking at the price when you are investing for long term, the word "HODL" was invented because that means a long term hold, or Hold on Dear Life. when you just look at the price, that doesn't help a lot because you could possibly panic watching it regularly, what you need to focus is the news about the project as that's the one that tells the real info compared to the price that we see on a daily basis.
the way I use to invest in the long run with some potential altcoin, besides that I also don't forget that holders are required to always monitor your investment so you will know what actions you will take when your coins go down / prices go up.
Having your own income is very important if you want to buy coins that you want in the bear market, bear market is the best time to hodl your coins and to buy coins with good potential but it will not become possible if we don't have funds to buy or we have daily income so we can stay hodling it.
I do not have the right preparation, it's just that I follow the market trend if my coins do not have price developments, of course I will replace them with coins that have further price developments, and vice versa.
I think the best long term results will bring major coins. Hold BTC, if you feel that too many bears enter the market, exchange BTC for BSHORT. And vice versa.
The reason why people put their mind and heart to much in some of these project is because they invest too much in those projects, and some of them even put in their last savings into the cryptocurrency market which is a very wring step to take, and above all, we also have to make research on every project that is of interest to us.
But this is what will be good and healthy for the entire ecosystem, I personally think more people should put their hearts and minds into projects. Look at Bitcoin, at LTC, at Monero, these are great projects who will live on long after the original people leave but only because these originals put a lot of their effort into them.
I do not have the right preparation, it's just that I follow the market trend if my coins do not have price developments, of course I will replace them with coins that have further price developments, and vice versa.
I agree with you, and everyone have their own method to minimize risk while HODL. Related with no 2 and no 3, i have my own method to minimize risk.
No 1 : it must, no doubt with this
No 2 : I just select some altcoin who give profit, in this case i divide into two options
option 1, rely on their market capital. I select coin with huge market capital between 1 until 300 .
option 2, rely on their benefit to hold this coin, sometimes coin with low marketcapital still chosed by me. I just put my risk in this criteria only 15% from my crypto wealth
No 3 : I define real use case more specific. many coin have real use case but i still not interested with them
No 4: Always stay update, do not choose coin with words "Soon we will....", "We will ...", "Next week ....", or words hears like too much promise . Whatever their real use case, it's not worth for me
No 1 : it must, no doubt with this
No 2 : I just select some altcoin who give profit, in this case i divide into two options
option 1, rely on their market capital. I select coin with huge market capital between 1 until 300 .
option 2, rely on their benefit to hold this coin, sometimes coin with low marketcapital still chosed by me. I just put my risk in this criteria only 15% from my crypto wealth
No 3 : I define real use case more specific. many coin have real use case but i still not interested with them
No 4: Always stay update, do not choose coin with words "Soon we will....", "We will ...", "Next week ....", or words hears like too much promise . Whatever their real use case, it's not worth for me
I also do all your Points. But more precisely Money that I have used I consider to be lost money (buy coin / token ico), why? because I feel this crypto world is like gambling. Maybe this is a little different from you guys. But I believe in long term Hodl.
Just buy coins and forget about it...
better to buy something like ledger and hide it in flower's pot
Do not just forget about your coins. if these are altcoins, then you always need to track what is happening in this campaign. monitor the course and sell your coins on time better to buy something like ledger and hide it in flower's pot
To be a good long term holder, I think that your advises must really be adhered to strictly and one more thing that I just need to add to that aspect is that we have to make sure that we only invest any money that is easy for us to afford, and at the same time loose even though chances of losing money as a long term holder is very rare provided that we invest in a reliable quality project and also do not panic sell anytime that there is a decline in that coin.
The reason why people put their mind and heart to much in some of these project is because they invest too much in those projects, and some of them even put in their last savings into the cryptocurrency market which is a very wring step to take, and above all, we also have to make research on every project that is of interest to us.
The reason why people put their mind and heart to much in some of these project is because they invest too much in those projects, and some of them even put in their last savings into the cryptocurrency market which is a very wring step to take, and above all, we also have to make research on every project that is of interest to us.
there is no point holding few altcoins for long term hold because we will continue to see new projects coming into crypto space,i always add good altcoins to my portfolio whenever i see one so your portfolio must not only consist of old altcoins only,new projects with give better returns than old projects in the future
You talk exactly like a short term speculator, who contributed to the whole reason this crypto winter is in place.
Since when is there no point in hodling altcoin long term if you believe in the project, and have found a useful utility for it? Monero will never lose its utility, and will continue to develop for as long as userbase grows, which is always happening. That is one old altcoin example.
There is nothing else to add to those cause you already made a really good point about this. Even for someone that is trading on a short term, I believe they need to have another source of income as well cause the people I see here always makes it seem like one can be into cryptocurrency trading or investment without having any other side job, that’s funny.
You know that cryptocurrency, whether you’re trading it or just HODL, there are risks that are involved and you can lose your money, then what makes you think that you shouldn’t have another income? Unless you have the powers to predict the future of cryptocurrency, which I’m very sure that none of you here has it. So, I like the first point you made, anyone who is investing and trading cryptocurrency should always make sure they have a side income.
You know that cryptocurrency, whether you’re trading it or just HODL, there are risks that are involved and you can lose your money, then what makes you think that you shouldn’t have another income? Unless you have the powers to predict the future of cryptocurrency, which I’m very sure that none of you here has it. So, I like the first point you made, anyone who is investing and trading cryptocurrency should always make sure they have a side income.
yes it is a great way to prepare your long-term investment while the market is in bad condition, set up again about your altcoin investment and make investment investments that you think are feasible. Because not all altcoins have good price development and you should know your next plan.
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