Topic: How to prepare for long term HODL - page 22. (Read 8767 times)
In October 2017 i hold some altcoins and i thought they are good enough for long term hold but in time i start realizing that most of the coins i hold are shitcoins with no real use case,even within some months 70% of these coins are abandoned my the teams so i start learning about what makes coins and tokens survive,the best tool is research
That you for this update and clue as it will be very good for those who is looking for write up to reqd about holding , I have always advice also not to hold any coin with no use case or with no solid team member for a back up , and you must be very active with a stop lost button on which can prevent you from loosing all as any thing can happen.
Choosing altcoin that already has a product as a long-term investment is the right choice. If altcoin already has a product, it is hoped that the company will get money to finance its operations and benefit from product sales. This will attract investors because it will definitely be profitable
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.
The major problem is Crypto is so unpredictable that no one knows the bottom so trying to buy cheap might not be cheap afterall. The most important is no 3 o his list buy solid coins in which even if the price reduce its just a matter of when if the investor is patient enough
That you for this update and clue as it will be very good for those who is looking for write up to reqd about holding , I have always advice also not to hold any coin with no use case or with no solid team member for a back up , and you must be very active with a stop lost button on which can prevent you from loosing all as any thing can happen.
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
It is good to diversify one's portfolio but what need is it to risk buying more altcoins which may not even have the potentials to be success if holding a few selected ones with capabilities of surging up in price? What matters most is the ability to choose the right coins at the right time. 
To prepare a long term hold, you must join in any of the bounty campaign while waiting for the good profit to the coin you hold.
With this things you have some at least source of income to get and something like you are savings altcoins for the future, just make sure
the project is promising and has a potential to increase in the future. or you can do also a day trade in any of the exchange platform.
With this things you have some at least source of income to get and something like you are savings altcoins for the future, just make sure
the project is promising and has a potential to increase in the future. or you can do also a day trade in any of the exchange platform.
Very clear points, before you decide to hold, you should put it in your mind that holding could be short term or could also be long term so one should diversify into doing something else to get funds. Also you shouldn't invest on any coin you see, do some research so you pick the valuable or coins with potential.
Number one is a golden rule. One must have an alternate source of income and stop selling properties or taking loans in order to buy crypto assets. As for knowing which coins have a working project, I'd suggest looking at any of the top 20 coins. Most alts that ran ico since 2017 have disappointed and run out of business despite raking in millions. Just go for projects that have stood strong for more than 3 years
Obviously people who do not have other income I am sure will not take the pattern to hold, surely they will use day trading patterns because what they need is income every day to meet their needs because holding takes a long time and patience
If you are holding coins that have no real way of adding value to to its token either through use case or a very active working product dont bother to hold such coins for long term or its even better to sell off and buy other useful tokens instead,working product is the only way a token or coin can live longer
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.
I totally agree with the third point for holding altcoin with real use cases. Most investors will be very interested to start investing in altcoin which has a different real use and has more added value than other coins and this will be an advantage in itself. Always making updates about the latest information so as not to miss the opportunities that arise at that moment is also what is needed for us to observe developments.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.
As for me, the most important preparation will be that you have patience and choose the coin you need, which will bring you the expected profit. Hold is like a very simple but fairly profitable way to make money.
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
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
The main problem is to understand which coins you have to hodl. We know a lot of situations when tokens gained so greatly that investors used to become rich people ( I mean really, serious investments here). It is very difficult to predict which of the projects will work and calculate the potential gainers.
As for another source of income, I totally agree here.
New knowledge for me, thank you
Strongly agree with the information in no. 3, many people do not review in detail the real product of the coin project they are holding, arguing that the price is still low so making a decision for a long-term hold and full of regret knowing that the project turned out to have left, this usually happens with new projects
Strongly agree with the information in no. 3, many people do not review in detail the real product of the coin project they are holding, arguing that the price is still low so making a decision for a long-term hold and full of regret knowing that the project turned out to have left, this usually happens with new projects
this price development will be interesting.
its clearly to see that alts follow with btc when btc falls but alts dont follow btc when btc rises.
it seems very logic to me that once btc falls to low that alts will buy a resistance. btc cant suck alts complete out and buyers must give resistance.
low prices are ok but completly zero wont happen.
we have never seen this before and it will be interesting what will happen next.
its clearly to see that alts follow with btc when btc falls but alts dont follow btc when btc rises.
it seems very logic to me that once btc falls to low that alts will buy a resistance. btc cant suck alts complete out and buyers must give resistance.
low prices are ok but completly zero wont happen.
we have never seen this before and it will be interesting what will happen next.
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
One of the best ways to prepare for long term holding is to read and research more about the coin of interest. This will help the investor to know the potentials and capabilities of the coin and based on the road map, the investor may know how long to hold.
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 
Long term hodl means we need update on news and developments on time to time bases so that we can hold and do short term trading on news happening
One of the best ways to prepare for long term holding is to read and research more about the coin of interest. This will help the investor to know the potentials and capabilities of the coin and based on the road map, the investor may know how long to hold.
Those things are really important if you hodl any coin. First of all, we have to choose the correct coin to hodl. Because there are so many coins in the coinmarketcap. We have to choose really good coins to hodl for long term. The own research is a really important thing before long term investment. The next thing is to keep in touch with future updates. If you hodl a coin, you have to keep in touch with future updates. because some projects have mainnet launch, token swaps etc. The updates help to sell your coins correct time with a profit.
Yes,,, everybody knows we have to choose the "correct coin" to hodl but that is the problem! There is no way to know the correct coin other than Bitcoin. With every single alt it is a gamble and no way to tell correct coin from wrong ones. Which is why to me they key is less about profit but about benefit. If I have a coin I can use even when I cannot profit,,, that is my benefit:)
It's hard to determine which altcoin is able to last for the long term. But in my opinion the top 5 coinmarketcap can be our reference if we want to invest altcoin for long term. Top 5 in coinmarketcap describes liquidity and transaction volume which is quite safe because of the large amount and value
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