How to prepare for long term HODL

[Golftech]

Having another source of income will allow you to patiently waiting for your invested money, not relying too much from your possible profits inside will continue to make your position positive for long term success, you have to keep your goals open as investment should be in a profitable side and not to allow yourself to lose your invested money.

[bitsurfer2014]

A firm resolved is all we need to hold any crypto we believe would greatly give us very good returns in the foreseeable future but of course it would be affected by the conditions described in the OP. Additionally, we must have a definite selling price and try to be factual on everything about crypto to guide us in deciding when its time to sell our holdings since not all things that we aspire often materialize. Imho.

[Bonwin]

I concur with the OP. How to keep oneself updated is by making sure that one has the link to the project's social media, mist especially the social media on which updates are usually made. Then not all updates are useful, there are certain updates that will make the price to increase for a short while and with little uptrend and vice versa.

[nemey]

Absolutely agree with these. Holding will be a long time period, commonly it will be more than one year, two, or more years again until the token or coin really has their value or their products are ready to use for real.
In choosing the long term holding coins must be careful, smart, and also wise. And we must also prepare our mentality better if we get 0 result or profits in the future. In my opinion, the most important thing is that we must be smart and careful in choosing which coin should buy with the real use case.

[herurist]

All would want to invest in the long term but many do not know which one to invest in tokens or better coins, of course we ourselves must research so that our investments are profitable for the future.

[gundala]

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 .

Exactly, I agree with this point. before buying a coin it is important to pay attention to the use of these coins because lately many new projects have nothing to do with the blockchain and lead to fraud. coins with the use of real will be more existent and long term which makes investors interested in investing their capital.

[Perfect35]

All would want to invest in the long term but many do not know which one to invest in tokens or better coins, of course we ourselves must research so that our investments are profitable for the future.

Not knowing and wanting to know should be the fuel that drives research. Investing blindly has been the mistakes made by newbies and except we learn from our mistakes, we might not know the right things to do.

[TheICE007]

This is really self explanatory. Thanks for the time spent to share your thoughts. Looking at the crypto space, we really need to hold altcoins with real use case not just holding any kind of coin that might never increase in value. That is why before we invest on any altcoin, we should do some research so as not turn our capital to waste.

[freedomgo]

I agree with all your listed here but I like the number 1 which we must have another source of income.
This is very important so we will be able to hold long term and it will not affect our emotion when price is not performing based on our expectation.

This is holding altcoins which is not so profitable last year and even up to this year, but as long as they survive, we do have a chance.

Investing for long term is not easy as we think since we are not yet in the early stage and more manipulation are happening now.
Maybe we should also see a real long term plan, like holding for 5 to 10 years and between that time, think of selling once our holdings would give us enough profit.

[Greatchu]

Some altcoins are not really good for long term,if you hodl them for long they might not survive for long,thats why its always good to do research on every coins you want to hold in your portfolio.

And yes you are right about how hard it is to hold coins for long term,one have no find other means of income to stay alive and breathing till market takes a good turn which might take years to see new market surge

[Bitbtc8]

Holding a coin is not the big deal. But cryptocurrency cannot be predicted. Since the price is not stable, if you want to invest, you must have atleast money to survive else you will lose and u will never see any gain on what youv invested on. Before you invest try to have more than enough else you will sell at worse rawe to survive..

Holding a coin is a big deal for those who don't have other source of surviving in real life that's why i recommend offline or online jobs,most times it can take up to 4years before we see another bullrun and presently its a different move entirely if we are to compare last bullrun with this present bullrun,they are different and altcoins are still struggling to keep up

[Bitcoin Miners]

Holding a coin is a big deal for those who don't have other source of surviving in real life that's why i recommend offline or online jobs,most times it can take up to 4years before we see another bullrun and presently its a different move entirely if we are to compare last bullrun with this present bullrun,they are different and altcoins are still struggling to keep up

To become a long term hodler requires huge efforts. It is a huge challenge for investors. Some main reasons: Investors have to maintain their patience to hold for months, or more than one year; they have to control their emotions among lots of bumping along the road of crypto market, especially with price crashes and massive massacres that happen once per some months; they have also keep their strong belief on coins they invest in despite of FUD attacks on them. It's not easy thing to do, so it is why major of investors get losses, not profits; because most of them are short term holders, and easily panic sells when market crashes. Buying highs, selling lows, repeatedly do this cycle.

[Alluro]

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.

[FloatOn70s]

Hello there, are altcoins only traded or mined as well? I am trading now but maybe as I have a productive PC it's time to start using it for mining as well?

Hi, yeah, altcoin mining is perspective niche but mining on PC is not a proper thing. Better buy yourself an ASIC miner or a bunch of miners

[FloatOn70s]

Now mostly people mine using asic rigs to achieve instant results. In other words a special equipment for such terms

[pinoy.bolanon]

I agree with you too, but in my understanding, it takes a long period of time to earn for holding coins, most specially that the market is very volatile and it needs your patience, only few coins which are good for HODL like btc, eth, xrp and among other top 10 coins in the coinmarketcap. What i like about HODL is that, it never worries me, specially that i have my fulltime work.

[FloatOn70s]

Now mostly people mine using asic rigs to achieve instant results. In other words a special equipment for such terms

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

Sure, moreover, if you are interested in this sphere, I can give you some useful links. So you can decide if you want to start or not

[HodlerKing101]

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 .

This is so true, people tend to expect so much with projects that they participated like an airdrop/bounty on to deliver so much and get them rich. The fact of the matter is, projects with a good use case and ones making moves to get real partnerships from major companies is what will help drive their coin's value. Crypto should never be your fulltime source of income, I personally see the money that I put in in crypto as the money I can afford to lose.

[Chomsy]

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.

[FloatOn70s]

I see, I have ordered all my rigs on globemining com. They have plenty of devices represented and timely clearances as well. You may ask for some particular model, for example I have purchased T17 model