Topic: How to prepare for long term HODL - page 5. (Read 8732 times)
It looks as if we are in for another bull run, with the Bitcoin exchange rates increasing by around 10% during the last two weeks. But the big question is whether the altcoins will be witnessing a similar price movement or not. For now, the Bitcoin dominance is somewhat stable, hovering around the 68-69 percent mark. In case a bull run occurs anytime now, then we can expect this dominance to grow to somewhere between 75% and 80%.
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.
I agree. We must not just rely or primarily depend into the income that we can acquire with cryptocurrency related works. We must still have another source of income which will be mainly our source while we are still waiting for the price to rise so that we can gain profit from it. Specially now that the market is still down which means almost all or let us just say that all cryptocurrency prices are that low to sell. In order for us to hold for a long period of time, we must obtain another job to work with whle staying or keeping yourself updated on the price chart of those crypto coins you have in your wallet in which you must have already sort out potential coins that are worthy for long term holding. Also, we need patience, faith and strong mind to make good decisions not to be tempted to sell our assets. Just keep on holding and surely, in no time we will all be rewarded for the patience we exert for holding.
totally...
i'd add some stuff about securing your coins and it'd be a perfect post to pin for new comers
people got to have clear instructions and explanations to feel safe and invest in crypto
i'd add some stuff about securing your coins and it'd be a perfect post to pin for new comers
people got to have clear instructions and explanations to feel safe and invest in crypto
I do not have time for long term HODL anyway unless stated otherwise, maybe token dumped on me and it's worthless or team have any future project development aside these factors I do not hold and to hold should be solely on team genuineness and transparency.
the only coins worthy of long-term hold are top coins and not tokens or newly released coins with projects that have not been proven to have real products, the market is currently getting a slow pump but it is like a guarantee when we hold the top coins because of growth faster when positive trends happen
Of all that you explained clearly, of course, I agree on point 4, when we are holding the coin, of course we should not just keep it in the wallet and not follow the developments, because there are many cases of altcoin that experience swap tokens and so on if we miss the moment. of course we can lose the token.
And we also have to keep monitoring the price because if we pass the price so that we don't lag behind the highest price moment on the coins we hold.
And we also have to keep monitoring the price because if we pass the price so that we don't lag behind the highest price moment on the coins we hold.
This post is quite informative. We really need to take heed before embarking on a long term hodl. One of the most important aspect is being updated on the happening with the project one hold. It's very appalling to find out that the token you hold has been swapped and what you have in your wallet is useless.
I do not have time for long term HODL anyway unless stated otherwise, maybe token dumped on me and it's worthless or team have any future project development aside these factors I do not hold and to hold should be solely on team genuineness and transparency.
Let me also emphasize more on point number 4, "stay updated always" this should be taken seriously especially when you plan on hold a coin/token for a long time, i have seen cases where investors hodl a token when it was an erc20 till even when the token has done 2 swap to coin they are not aware, only to come back after a year to ask how they can swap their erc20 to coin, this is because they fail to follow update of the project and they ended up missing out,
to hodl for long term is oe thing, to follow up with update is another, people should take note of this.
to hodl for long term is oe thing, to follow up with update is another, people should take note of this.
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.
Good tips. I also think something is missing here. I suppose if anyone is hodling a coin, it shouldn't be on exchange at all. People gotta be safe this year by moving their tokens and coins to a wallet they owns the key. Atomic wallet is one good example of such. Can get it on atomicwallet.io . Also, You want to check if the team is active before you hodl a coin for long.
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.
If you don't have another source of income than how you will survive in cryptocurrency world. After Bitcoin halving another source don't be needed, because price could be run of Bitcoin. My experience is also saying number 4 option, I missed huge profits because of stay update.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.
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.
If you don't have another source of income than how you will survive in cryptocurrency world. After Bitcoin halving another source don't be needed, because price could be run of Bitcoin. My experience is also saying number 4 option, I missed huge profits because of stay update. 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.
In my opinion, one way to prepare for HODL in the long run is to continue to monitor price charts and pay attention to the good news for the development of the coins that we hold so that we can make a decision when is a good time to sell our assets.
continue to monitor price charts? You will lose a lot of time to trade long term if that is the case, if you want to monitor the price charts every day you better do daily trading, it will make it easier for you to get profit
Thank you for the advice. but I think it's better to hold a coin for a long time. because we can have great potential in making big profits. even before I had felt a big profit while holding coins too long, as soon as the price went up I immediately sold it. the profit I get is greater than the capital I spend when buying.
Preparing for long term hodl is never seems easy. You've to get pretty occupied with stuffs that won't make you to question your patience of the altcoin you have. Hodling token that has no value do cause alot of heart breaks. So get occupied with work and don't hope on crypto
With such attitude regarding cryptocurrency, it is best for you to quit the market. Investing in cryptocurrency is now the only investment tool that can help an intelligent person who does not have millions of dollars - earn these millions. Of course, this will not be an easy job for him. Long-term holding and investment in quality projects is the way to achieve financial freedom. 
Preparation for long term hodl usually takes time and big funds you must have a decent income so you can allocate funds for coins that you are going to Hodl long term, in my case I allocate some of my earnings coming from bounty to buy coin that will likley pump high in the future.
Indeed, you have to get a high amount of money to make a decent profit in a long term investment, that's the strategy thought. It always requires you to buy in the good timing, I mean the time when the coin's price is too low so you can earn a lot when there's a high pump of price. 
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1. You must have another source of income
If you have other sources of income, you can buy coins that you want you to hodl and not just coming from bounty campaign and airdrops, the top coins are must coins to hodl right now, I don't believe in new coins, it will take time before we can their potential 
Quote
1. You must have another source of income
If you have other sources of income, you can buy coins that you want you to hodl and not just coming from bounty campaign and airdrops, the top coins are must coins to hodl right now, I don't believe in new coins, it will take time before we can their potential 
Preparation for long term hodl usually takes time and big funds you must have a decent income so you can allocate funds for coins that you are going to Hodl long term, in my case I allocate some of my earnings coming from bounty to buy coin that will likley pump high in the future.
Preparing for long term hodl is never seems easy. You've to get pretty occupied with stuffs that won't make you to question your patience of the altcoin you have. Hodling token that has no value do cause alot of heart breaks. So get occupied with work and don't hope on crypto
it's so easy when you are only putting all of your money to the major crypto but the difficult thing is about how you can search the potential investment and this is what already searched by so many people these days. it's not an easy task when you are expecting a huge gains in long term holders. Patience doesn't matter a lot. 
to be a good long-term holder, maybe we should be able to forget for a moment the investment we made in crypto or the type of potential coins we have by looking for other activities, especially activities that can make money. maybe this method is one of the effective methods to do, so that the investment we make can be a surprise later, even more so if the coins we hold can increase sharply in the future
I am not buying to this HODL long term anymore. Especially for Altcoins, I might consider hodling those coins that already have made their name but for new coins. I would try consider buying them but sell it when its peak and jump ship to another coins to earn another possible profits.
Well you should really not plan on long term holding a new coin because it is way too risky specially when you really have zero knowledge about that coin but if you do follow that coin and its team before and after its release then you should have enough thoughts whether you will hold or not. Holding is fine its just you need to do those points that the OP gave us and when holding you should have lots of back up plan reserve incase something happens like when the coin doesnt seem to show some hope in increasing. Jump to: