Topic: How to prepare for long term HODL - page 23. (Read 8783 times)

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.

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.

all you say is true. If you want, it's easier to invest bitcoin, not altcoin because bitcoin is the crypto king. if bitcoin dies all alt will die if alt dies bitcoin won't die.

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.

So to Cyprus it may take 20 days? Or less?

They are based in US, and I live in Cyprus, is it possible to order?

The most important thing to sustain one in a long term hold is having another source of income. I wonder at some people who talk about hold especially the newbies but then again they might have other sources of income. Only that will give one courage to hold one while expecting a believed project to do well in the market. The other points the poster outlined also is of essential too.

Sure, that's a significant benefit, so they offer a year guarantee?

Yeah, I see. Prices are high, how long does one miner take to payback?

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 .

As I see it's something about special devices developed specially for mining, yeah?