Should cryptocurrencies be held for a long time or used to pay?

[ruiruiliu]

Hello everyone, I'm a novice in cryptocurrency, first of all I want to know:
Although some cryptocurrencies have the function of payment, but in the end he is used to pay or to collect it?
Thanks

[hase0278]

Although some cryptocurrencies have the function of payment, but in the end he is used to pay or to collect it?

Most of the times, people use it as a mere speculative tool used to earn fiat currencies. They also hold it(specially bitcoin) to earn a hefty sum of money. Nevertheless, some still use it as a currency. They use it to pay for services and goods online, you can see a lot of people doing it in services section or in marketplace section of this forum. In the end, cryptocurrencies are mainly used as a speculative tool but you are free to hold it or to use it.

[TMAN]

Both if you want them to succeed. Hold BTC, then buy more for spending

[mithrim]

Hello everyone, I'm a novice in cryptocurrency, first of all I want to know:
Although some cryptocurrencies have the function of payment, but in the end he is used to pay or to collect it?
Thanks

Maybe you could specify what your goal is. What do you want to achieve? If you don't have any application for cryptocurrencies then why are you looking for one?

[dothebeats]

There really isn't any exclusivity to the use of bitcoin so anyone can use it to whatever purpose they see fit. Since bitcoin can act freely in both worlds--payment system and investment vehicle--people are using it according to what benefits them the most at a given time. Right now, the best thing to do with bitcoins and crypto is to profit off of them while it is profitable and while there aren't any merchants lingering around the cryptospace. Fundamentals might be lagging, yes, but people still are in the space with other things to do with the coins and that's still good IMO.

[apoorvlathey]

It really depends on your needs. If there is no urgent to spend your bitcoins now you may wait and you might get the same product for lesser coins if the price rises. I would advice not to cash out all from your crypto investments and use only a percentage of it when required.

[mithrim]

In the end, the fewer people who use bitcoin (or any other cryptocurrency for that matter), the lesser its inherent value is and the fewer applications it will have/will be developed. Luckily, people have all kinds of ideas and everyone is entitled to his/her own opinion, therefore everybody uses/utilizes it as they see fit.

[TryNinja]

Simple. Just spend and rebuy.

This way you keep your hodlings while helping increase Bitcoin adoption. If everybody just hold, why would merchants start accepting Bitcoin?

[bill gator]

I'll give my personal tale and I'll keep it short. I always used to be a firm believer that the HODL crowd was doing a disservice to Bitcoin and that their rewards would be minimal at best. I was wrong. I used to always use my Bitcoin as a means of payment for just about everything. I would withdraw it to pay my bills, buy my food, and wherever I could spend it I would do so simply to show my support for the technology. Now that I'm looking back I could easily be a multi-millionaire if I have held onto even a fraction of my coin. These days I refuse to spend more than 50% of the coin I receive. I instantly squirrel away 50% of everything I ever receive for the future. I'm even doing the same with my mining profits, simply squirreling them away until I need to buy new equipment and going to constantly reinvest and move forward.

[jseverson]

What's funny is Bitcoin's volatility gives you incentive to hold it. If you're of the belief that Bitcoin prices will continue rising, then it's objectively better to HODL. This is why there are so many speculators on the market, and I'm fairly sure only a small fraction of the community actually spends Bitcoin regularly. Basically, it's personally better for you to hold, but it's probably better for the community as a whole if you spend.

The beauty of it though is that you don't have to choose. Hold when you see fit, and spend when you see fit. You have control. Some people who are firmly in one camp may judge you, but who cares.

[iillaa]

for us  as investors  we collect them --->hodl them ----> get benefit in the long term from them when we exchange them for fiat  .

but lot of people use it as a payment method   ex :  when you join a bounty you get paid with  crypto coins not by fiat  . and ofc there are many other examples  we can mention

[Lektai]

It depends on the basic fundamental analysis of the particular cryptocurrency in question.. before you can hodl a cryptocurrency you need to have your reasons as to why you have decided to hodl it and also what does this coin aim to solve?
How active are the devs?
Once you have your answer to these questions I guess you are good to go

[XinXan]

Cryptocurrencies are supposed to be used to pay, hence the name ''currencies''. Then again, just like normal currencies, you can hold and speculate with them as well. There are plenty of people that trade eur/usd or usd/jpy, etc. Obviously there is a big difference since anyone in usa, for example, will be using usd daily. Can't say the same about bitcoin.

[Dhanushka]

Hello everyone, I'm a novice in cryptocurrency, first of all I want to know:
Although some cryptocurrencies have the function of payment, but in the end he is used to pay or to collect it?
Thanks

HODL is the winning way of cryptocurrency. So don't spend it in present for cheaper things. If you have chosen correct coins your future will be a place which can't imagine.

[MarioSPGroup]

In the end, the fewer people who use bitcoin (or any other cryptocurrency for that matter), the lesser its inherent value is and the fewer applications it will have/will be developed. Luckily, people have all kinds of ideas and everyone is entitled to his/her own opinion, therefore everybody uses/utilizes it as they see fit.

[martisuniso]

Actually it depends on every person you ask. If I am you, I will hold it for a long time and wait for the right time use it if the price become high.

[XinXan]

In the end, the fewer people who use bitcoin (or any other cryptocurrency for that matter), the lesser its inherent value is and the fewer applications it will have/will be developed. Luckily, people have all kinds of ideas and everyone is entitled to his/her own opinion, therefore everybody uses/utilizes it as they see fit.

Well, the most important thing is adoption. If you can't buy things with bitcoin, people are not going to use bitcoin. Once global adoption really happens, which will be gradually, then people will use bitcoin much more. Even if they don't, you don't really lose anything for accepting cryptos or any other form of payment.

[p4npos]

It is a judgement call that you have to make. If we exactly knew when the cryptocurrency value is going down or going up, we would all be millionaires. Just keep watching the market and see the trends. Don't fall asleep when the market is fluctuating.

[KullAxel]

It depends which cryptocurrencies you are holding. Some are good to hold and wait till the price rises because they can increase by a lot. But also, depends on your situation because in some cases you might not have a option and need to spend them. But in most cases in my personal opinion I think it is a good idea to hold on to. 

[fernandoaleixo]

Depends on what crypto you have, most altcoins you can use to pay for your services, if you have just a bit of BTC I suggest you hold.