Yep following their news is something that you need to do after you make a choice to do long term Holding Alts.
if you worried about reason number 1 and 3 you should choose top 10 or best 3 ALT coin on coinmarketcaps.
Topic: Some Risks Of Long-Term Hodling Alts - page 4. (Read 1468 times)
That risky to see if the alts you had in your wallet was shitcoins, probably this could give you emotional stress. Sometime risking our coins at trading site isn't profitable, since you're holding is more vulnerable to attacks of hackers and thieves online. I don' recommend holding long terms at exchanges, it can be done through private erc20 wallets like trust wallet and other type of wallets.
Yeah shitcoins will end up nothing.And be sure that if we trade and store in exchanges we must keep always the private key to prevent it from hackers and to avoid losses.
That risky to see if the alts you had in your wallet was shitcoins, probably this could give you emotional stress. Sometime risking our coins at trading site isn't profitable, since you're holding is more vulnerable to attacks of hackers and thieves online. I don' recommend holding long terms at exchanges, it can be done through private erc20 wallets like trust wallet and other type of wallets.
the most of my holdings of altcoins over the half year have price under the bottom, maybe some day it will be profitable, or better not to hold so long
That's right; once we are holding any coin we have to assume all responsibility about it to protect ourselves from unnecessary heartaches. Checking the group once in a while won't hurt and taking into account the rate of swaps nowadays, any coin we are holding should worth our utmost attention.
But most importantly, we should be mindful of the coins we are holding to be sure we won't end up holding useless coins later on.
But most importantly, we should be mindful of the coins we are holding to be sure we won't end up holding useless coins later on.
There are also teams that change their roadmap later on when they can't figure what to do next. Some tokens promises to distribute dividends but in the long run tend to change it to buy back tokens. What you expect today could not happen in the future. I don't know if there are legal issues to claim for this but if you are just the only who complains about it then there isn't much you can do as a long term holder but sell in loss.
- You might end up holding dead coins if the project gets abandoned
- You might miss swaps and end up holding worthless tokens
- Delisting of coin/token and you miss the withdraw period (in case you store coins/tokens on exchanges)
Take time to follow news/updates on the coins/tokens you invested to minimize the above listed risks. Checking up their telegram/discord/social media once or twice a month will help.
You are correct with your observations. All the three results of hodling long-term you mentioned I all have experienced giving me a great loss in my assets. So that is why I am now a bit picky and only follow a few of the top coins so as to have control and fully manage my assets.
- You might end up holding dead coins if the project gets abandoned
- You might miss swaps and end up holding worthless tokens
- Delisting of coin/token and you miss the withdraw period (in case you store coins/tokens on exchanges)
Take time to follow news/updates on the coins/tokens you invested to minimize the above listed risks. Checking up their telegram/discord/social media once or twice a month will help.
Those are actually true. In my opinion, long term holding are only good for pioneer coins like bitcoin and ethereum. Holding altcoins or token for a long time might not be a good idea because its not yet established itself in the market. A lot of things can happen. It might end up worthless and you will gain nothing. Day trading is more advisable when dealing with tokens and altcoins.
One of the problems with the crypto space as of now, is the essence of shitcoins. A shitcoins will only have an active team for a short while, until they have finally cashed out. Such will never have a real use case and there never be any development at intervals. It cannot meet up with its milestones. With some of this, I see no reason to hold such for long.
I agree with your opinion, it is quite risky to hold altcoins for a long term, expecially if it is not an altcoin from top 20 CoinMarketCap. The main risk in my opinion is the stopping of the development of the project.
There is zero risk to hold top altcoins at the moment. They all will rocket in coming weeks. I don't include shit altcoins in the statement, and it is only right with top altcoins. Top altcoins mean high quality altcoins, which have strong, productive, and reliable teams of developers behind. They kept working hard to keep their projects moving in bear market, so it is surely right that those projects will get sweet journey when bull market comes.
I agree with your opinion, it is quite risky to hold altcoins for a long term, expecially if it is not an altcoin from top 20 CoinMarketCap. The main risk in my opinion is the stopping of the development of the project.
There are many instances my friends and others have missed some tokens due to their failure to get updated about the project they belong to. One of my friends told me that he lost $3000 worth of tokens due to his failure to swap tokens in set timeline. So it is necessary to get updated about any project. Otherwise you may pay price.
Storing Altcoin for the long term indeed we have to more actively read the update. We have to join the official telegram that they have. That way we will always get the development information about Altcoin. The altcoin is great for long term investments. So do not be afraid to save Altcoin in a long time.
Long term holders usually know when to sell and they have a precise plan to apply in case of the big red candle on the crypto market. Available supply is the first thing I usually pay attetntion in order to prevent the maximum dump amount on the listed exchange. By the way, there is no need to choose perfect altcoin for long term HODL, almost all altcoins go up and down together.
- You might end up holding dead coins if the project gets abandoned
- You might miss swaps and end up holding worthless tokens
- Delisting of coin/token and you miss the withdraw period (in case you store coins/tokens on exchanges)
Take time to follow news/updates on the coins/tokens you invested to minimize the above listed risks. Checking up their telegram/discord/social media once or twice a month will help.
This is good advice for altcoin holders. But if you are a bounty hunter and you have dozens of coins in portfolio, it is very difficult to fulfill this recommendation. I don't always have time to view news about projects in which I participate now. I don't know what to do with those projects, coins which I have already received.
- You might end up holding dead coins if the project gets abandoned
- You might miss swaps and end up holding worthless tokens
- Delisting of coin/token and you miss the withdraw period (in case you store coins/tokens on exchanges)
Take time to follow news/updates on the coins/tokens you invested to minimize the above listed risks. Checking up their telegram/discord/social media once or twice a month will help.
I'm not misunderstanding anything here. What I've mentioned are real risks of holding altcoins for a long time. You can have your own definition of what long-term investment means according to your understanding.
there is nothing wrong, indeed in a long-term investment there are many risks that might occur to us. especially for altcoin assets. even the top altcoins cannot be predicted in the future. like a market situation that we cannot expect. who would have thought that ethereum was only moving slowly like now even though bitcoin was moving fast? that's just a small example of the risk of long-term investment.
There are many qualified altcoins that are good for long term holding like ethereum and the strong coins. Holding a new coin for long term is more risky unless its developers continues to be active in developing and promoting their project or coin. Be sure to make a research first on any new coin before buying it to avoid possible losses in the future.
This is certainly true; once we invest in any coin we ought to be checking it once in a while. If possible have a note book to write them or write it in a piece of paper and stick it somewhere you will always be reminded of. Having a look at most coins today, you will either see them moving to a new blockchain which will cause swapping or see them just swapping to a new coin, once anyone missed to swap that's it. So in other to avoid this we have to be checking once in a while.
This happened to me and since then I took caution.
This happened to me and since then I took caution.
it is very true, and must be done so as not to suffer losses, but long-term holding has two different sides, can suffer losses and vice versa can also take large profits, it all depends on the coins we hold.
Depends on how the project will be developed, those projects that still in the process of progress and still showing updates and still keeping what inside it's roadmap are coins that have potentials, they might be suffering with downfall as the market is not favoring the situations but in the long run there's also possibilities that it will goforward, when the usage has been brought out and more investors see the real potential it will be supported after and the value will rise, the chance of having a good profits will be there for those investors who can take the wait. Jump to: