Tips to Becoming a Successful Holder

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: Marcorey on December 28, 2022, 02:51:10 AM

To be a successful holder requires firm belief and good emotional management, not to be affected by FUD and price trend changes. Choose to hold cryptocurrencies that have development potential and can be profitable, and learn proper risk management.

I would like to understand who you consider a successful holder. After all, the goal of all holders is to sell the coin at the maximum price. Only the level of the price at which they will be ready to sell their bitcoin distinguishes such holders from each other.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Quote from: tvplus006 on January 06, 2023, 05:26:04 AM

Quote from: alastantiger on November 26, 2022, 01:10:03 AM

...What do you think? What other tips are there for becoming a successful holder?

The problem of every investor is that he does not fully implement all the tips that the OP has published. This can happen either due to ignorance or in cases where the investor specifically violates them, hoping to increase his deposit. But it can definitely be said that the holder should not sell his coins when they have reached the minimum price.

Well, expect that even OP’s tips are good and valuable, there will always be investors that will follow their own rules and stick to them because they think that they are way better than these posted tips. Either because of their ignorance, or they don’t just trust other people’s advices and opinions. For me, it’s good too as they will learn their lessons eventually when they start losing in the end.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: alastantiger on November 26, 2022, 01:10:03 AM

...What do you think? What other tips are there for becoming a successful holder?

The problem of every investor is that he does not fully implement all the tips that the OP has published. This can happen either due to ignorance or in cases where the investor specifically violates them, hoping to increase his deposit. But it can definitely be said that the holder should not sell his coins when they have reached the minimum price.

Sikinkato

newbie

Activity: 28

Merit: 0

To be a successful holder requires firm belief and plenty of patience. Learn more about crypto to analyze market trends and wait to find the right time to buy and sell to make a profit. Good emotional management is also important. Don't be afraid to sell the currency you hold because of the market. Those who hold on to it for a long time will always profit from it.

oaz7t

full member

Activity: 269

Merit: 101

These things need to be followed if we are going to go deep down in it otherwise there is no useif we jump into the trading and do not follow disciplined rules. In investing, it's simple to put your money into it but the hard part is exit strategy. I think being successful trader is not very easy thing. I am always ending up with selling in the situation where I need the money to survive though I have had pun I wont be selling it in the long duration. Anyways, those who go for very long always profit from it. Imagine people hodling since the beginning of bitcoin, they have seen the worst and happiest both sides of bitcoin in the long run. They have no fear now, they just jump in and wait for the bitcoin to give more profits back to them.

Marcorey

jr. member

Activity: 50

Merit: 2

To be a successful holder requires firm belief and good emotional management, not to be affected by FUD and price trend changes. Choose to hold cryptocurrencies that have development potential and can be profitable, and learn proper risk management.

Luzin

hero member

Activity: 1400

Merit: 770

Quote from: Welsh on December 22, 2022, 10:31:28 AM

Obviously, Bitcoin is deflationary by design so it will kind of increase in value over time. However, expecting the volatility to continue to happen in the same extremes probably isn't a good way of looking at it. Since, it's just not sustainable.

As the block rewards become less, and less we should see a reduced amount of volatility, and therefore speculative investors will likely become less interested, as the big swings disappear.

But, I don't think Holder thinks about short-term Votality. I'm sure those who do scalping trades are taking advantage of that. Holder's expectation is that the value of Bitcoin always rises even though it will eventually fall indeed due to the saturated cycle. The theory of supply and deman laws is the hope of holders.

Even though the current world economy is very different and I don't know what would happen if a global Recession happened. I think a big effect on the price of Crypto and a big test for the Holders. But so far I hope this history will become a belief and continue to repeat itself.

Awaklara

hero member

Activity: 1246

Merit: 699

Quote from: WellRozey on December 28, 2022, 12:22:04 AM

Get yourself a job or other business that pays you and keeps you busy, do not keep looking at your wallets everyday because the temptation is real, at one time you can get tired of holding if the assets aren't pumping when you wanted.

that is why if you want to hold assets in the long term. you must have good psychology. calm and patient.
there's no use not looking at the wallet when social media always reports on market developments. if you don't have good psychology, what happens is panic.
but everything is a process, when we make a long term investment plan, sometimes we will be tempted to get out of the plan. but when we have more and more experience, everything will be fine.

WellRozey

newbie

Activity: 23

Merit: 21

Get yourself a job or other business that pays you and keeps you busy, do not keep looking at your wallets everyday because the temptation is real, at one time you can get tired of holding if the assets aren't pumping when you wanted.

1miau

legendary

Activity: 2226

Merit: 6947

Currently not much available - see my websitelink

In general I agree to your suggestions, many of them are indeed very useful for being a successful Hodler.
Bitcointalk members have also provided additional input here, so I see all most important points are mentioned already.

But I have to disagree here:

Quote from: alastantiger on November 26, 2022, 01:10:03 AM

6. Diversification- Diversify, do not put all your eggs in one basket

In my opinion, diversification isn't helpful to be a good Hodler. Or at least, diversification isn't helpful if you are a Bitcoin Hodler.
If you are only going to invest into Altcoins, diversification might be a good decision - while only investing in Altcoins seems to be very risky in my opinion. Bitcoin is king.

Because overally, allocating the most % of your portfolio to Bitcoin is much better than a widespread diversification.

I have also written an article here about diversification, it might be an interesting read for you: Is diversification into different coins really a good advice for Newbies?

coupable

hero member

Activity: 2338

Merit: 757

There are two recommendations I would like to point out from my own experience:

Don't be afraid of losses : The trader's feelings of fear cannot be denied, and therefore there are several steps that can be taken to manage those fears. This includes not taking risks by trading what you are afraid to lose and not giving up trading in a demo account to gain more experience.
Never trade to make up for your losses : This type of trading should be completely avoided because it is the beginning of addiction and makes it difficult to make the right decisions. You must accept the loss and look for guaranteed opportunities instead of venturing into ill-conceived deals under the pretext of compensating for the loss. Small guaranteed deals are better than one big and risky deal.

One of the trading mistakes is also ignoring the psychological aspect that plays a major role in trading. Greed and fear are two of the most common psychological emotions that can affect your trading.

Maestro75

sr. member

Activity: 1960

Merit: 329

Quote from: cozytrade on November 27, 2022, 12:20:28 AM

Only holding is not a good idea all the time in crypto. Just think if you brought BTC in 2019 at 4k and haven't sold any in 69k then what have you missed here? You have missed more BTC in your portfolio. You could have increased 4 times of your BTC bag if you would have sold at the peak. Some will say do DCA then but doing DCA in a bear market is another bad idea. So just wait for BTC to find a bottom and then start DCA again till the next bull run.

Those who hold and do not ever sell are using a bad strategy because they remain stagnated instead of selling and increasing their quantity like you have said too. The reason they leave it that way is because they may not be able to buy back after selling, it is the same thing with those who advice for DCA. Most times those who do DCA end up regretting each time they buy. It is not easy to get the timing right. Trading cryptocurrency is not an easy thing and this is the reason why people will tell you that trading is not an easy thing.

salad daging

hero member

Activity: 1624

Merit: 791

Bitcoin To The Moon 📈📈📈

Quote from: CryptopreneurBrainboss on December 25, 2022, 06:42:02 AM

Quote from: CryptoHeadlineNews on December 23, 2022, 04:01:33 PM

Yes. I totally agree with what you just said mentioned above, because in as much as it's not advisable to store all your crypto assets in one wallet, another important factor will be the need to properly keeping that your 12 key phrase in a safer place, as that's the only key to accessing your funds. Whereas, USDT or BUSDT can be an recommended alternative after Bitcoin

Firstly it's BUSD and not BUSDT, secondly both stablecoin (just like majority of the stablecoin available in the market) are centralized and not to be trusted for long term holding. These stablecoin just like UST can collapse at any moment or get depegged (trade below the $1 price that it was meant to be stable at). Sometimes they recover while other times they mightn't. The most recommended way to hold your profits is in Bitcoin. With Bitcoin you are assured of your funds not going to disappear as we see with the altcoins. If you aren't comfortable holding it in the space then you can go traditional with fiats.

Don't over trust any stablecoin in the industry as without the support of the community, all of them can collapse like we have seen with previous stable-like projects. As for the tips of becoming a successful holder, my advise to anyone embarking on this is to put more focused on where you store your coins as security of your assets should be your number one priority as an investor.

It is still doubtful to keep stablecoins even though it feels safe because it is the same as traditional fiat, but we have to look at other facts about other stablecoins that many have collapsed and cannot be reached at normal prices anymore so I always avoid this to store stablecoins with long time ago, obviously I didn't venture except bitcoin being the only hope.

Successful holders keep their assets for long term increase not with stablecoin, but bitcoin of their choice, and also don't choose altcoin for hope in the future because it won't make us successful but bitcoin can come back with ATH price because it has 4 cycles years that will be history repeating itself.

Most importantly never store assets on an exchange, choose an asset repository with either our managed security or having 12/24 word seed phrases.

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

Quote from: CryptoHeadlineNews on December 23, 2022, 04:01:33 PM

Yes. I totally agree with what you just said mentioned above, because in as much as it's not advisable to store all your crypto assets in one wallet, another important factor will be the need to properly keeping that your 12 key phrase in a safer place, as that's the only key to accessing your funds. Whereas, USDT or BUSDT can be an recommended alternative after Bitcoin

Firstly it's BUSD and not BUSDT, secondly both stablecoin (just like majority of the stablecoin available in the market) are centralized and not to be trusted for long term holding. These stablecoin just like UST can collapse at any moment or get depegged (trade below the $1 price that it was meant to be stable at). Sometimes they recover while other times they mightn't. The most recommended way to hold your profits is in Bitcoin. With Bitcoin you are assured of your funds not going to disappear as we see with the altcoins. If you aren't comfortable holding it in the space then you can go traditional with fiats.

Don't over trust any stablecoin in the industry as without the support of the community, all of them can collapse like we have seen with previous stable-like projects. As for the tips of becoming a successful holder, my advise to anyone embarking on this is to put more focused on where you store your coins as security of your assets should be your number one priority as an investor.

Viscore

hero member

Activity: 3178

Merit: 661

Live with peace and enjoy life!

Quote from: AakZaki on December 12, 2022, 12:21:30 PM

Quote from: alik111 on December 10, 2022, 01:29:32 AM

I think there should be a proper risk management theory to be a successful crypto holder. Holding a non potential coin will make you loses. So always try to hold top ranking cryptocurrencies and hold in a safe non custodial crypto wallet.

the right choice is BITCOIN, it is a top coin that has no equal for long term investment. Indeed, a coin that has no potential is the wrong choice, it will only waste time and will not provide a commensurate profit. to be a successful holder must know the science of trading, science of market analysis and risk management theory as you say.

Also, to be the best holder you can be, you should have all the patience to hold and not to be easily pressured and ends up panicking. Even with bitcoin, though it’s always the right choice, but even if you have tons of bitcoin in your portfolio, as long as you have no patience to hold it for quite long years, you will never be a successful holder.

Obari

sr. member

Activity: 602

Merit: 442

I buy all valid country Gift cards swiftly.

I guess I must have said something in this topic previously and it keeps catching my eyes on every instance I see it.
I do agree with you OP on all the points you gave and you said everything in a lame man's understanding and the clarity was top notch.
People must always have to know that privacy is a key factor in the crypto space and the safety of your coin all depends on you and what actions you take as there is this saying that " NOT YOUR KEY, NOT YOUR COIN. so always remember to keep your keys very safe and always know that cold wallet should be your mom's preferred for now.
Doing your own rest can't be over emphasized as every advice one gets is always stated as not a financial advice.

Bobrox

sr. member

Activity: 1246

Merit: 262

Quote from: CryptoHeadlineNews on December 23, 2022, 04:01:33 PM

Whereas, USDT or BUSDT can be an recommended alternative after Bitcoin

Stable coins increasing under 2% each years and I don't think with your recommended investing in USDT or BUSD coin, better with another altcoin after investing in Bitcoin. I think Ethereum and BNB are recommended altcoin and earn higher profit than investing with stable coins.

Better with gold or silver have higher increasing price for investing than used stable coins as investment assets for the future, comparison with USDT and BUSD values increase up above $0,15 than last two years based on local currency. I don't think good ideas more than three until four years holding BUSD or stable coins values increase up under $0.15.

Zilon

sr. member

Activity: 966

Merit: 421

Bitcoindata.science

I will also add stay updated to recent changes in the Bitcoin protocol to know what forks happened on the Bitcoin network and how it affects how we hodl our coin. Security is the major concern for every hodler and once it gets compromised it no longer belongs to the initial owner. To be a successful hodler been security conscious and staying updated on how to be more security conscious of our private key stay top on the priority list.

_BlackStar

legendary

Activity: 1064

Merit: 1228

Playgram - The Telegram Casino

Quote from: CryptoHeadlineNews on December 23, 2022, 04:01:33 PM

Whereas, USDT or BUSDT can be an recommended alternative after Bitcoin

No, stablecoin should not be my recommendation as your investment in the long term. If you want make profit in the crypto market in the long term, then you should be able to choose from several altcoin ^{[not stablecoin]} but you must make analysis first. ETH is one of the best recommendations I can think of besides bitcoin, but there are several other altcoins you could consider as well. The risks are there, and you shouldn't ignore them.

Stablecoin won't benefit you in the long term, I tend to use stablecoin as a reserve fund before finding a dip in the assets I want to invest in. That is my recommendation and practice, but certainly not financial advice for you.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: caddywampus2001 on December 23, 2022, 02:02:05 PM

..Just buy and hold bitcoin. Perform DCA in and DCA out. With your spare cash, put it toward innovative small-cap projects. The future is privacy, in my opinion.

That's how it often happens, after selling bitcoin for good money, we rush to buy "innovative projects" with this money and as a result we lose what we earned. If you do not use margin trading, then the correct solution is to wait until the BTC price go down again and you can buy bitcoin at the lowest price.

Topic: Tips to Becoming a Successful Holder (Read 744 times)