How to prepare for long term HODL

[jessyj48]

there is no point holding few altcoins for long term hold because we will continue to see new projects coming into crypto space,i always add good altcoins to my portfolio whenever i see one so your portfolio must not only consist of old altcoins only,new projects with give better returns than old projects in the future

[anks]

this price development will be interesting.
its clearly to see that alts follow with btc when btc falls but alts dont follow btc when btc rises.

it seems very logic to me that once btc falls to low that alts will buy a resistance. btc cant suck alts complete out and buyers must give resistance.
low prices are ok but completly zero wont happen.
we have never seen this before and it will be interesting what will happen next.

[d_fitrie]

New knowledge for me, thank you
Strongly agree with the information in no. 3, many people do not review in detail the real product of the coin project they are holding, arguing that the price is still low so making a decision for a long-term hold and full of regret knowing that the project turned out to have left, this usually happens with new projects

[trickyriky]

Totally agree with you

The only thing I want to emphasize is number 3

3.HODL Only Altcoins With Real Use Case

There's no better tip than this one, people and devs write some beautiful whitepaper, launch a coin and try to sell to another people, but they can't asnwer the simple question: What problem you coin will solve?

They only want to lauch a coin, not solve anything, so it's not valuable in a future

The main problem is to understand which coins you have to hodl. We know a lot of situations when tokens gained so greatly that investors used to become rich people ( I mean really, serious investments here). It is very difficult to predict which of the projects will work and calculate the potential gainers.
As for another source of income, I totally agree here.

[jarhed]

As for me, the most important preparation will be that you have patience and choose the coin you need, which will bring you the expected profit.  Hold is like a very simple but fairly profitable way to make money.

[Chainsmokers]

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.

I totally agree with the third point for holding altcoin with real use cases. Most investors will be very interested to start investing in altcoin which has a different real use and has more added value than other coins and this will be an advantage in itself. Always making updates about the latest information so as not to miss the opportunities that arise at that moment is also what is needed for us to observe developments.

[Ken_terrance]

If you are holding coins that have no real way of adding value to to its token either through use case or a very active working product dont bother to hold such coins for long term or its even better to sell off and buy other useful tokens instead,working product is the only way a token or coin can live longer

[bastian466]

Obviously people who do not have other income I am sure will not take the pattern to hold, surely they will use day trading patterns because what they need is income every day to meet their needs because holding takes a long time and patience

[Coltpython]

Number one is a golden rule. One must have an alternate source of income and stop selling properties or taking loans in order to buy crypto assets. As for knowing which coins have a working project, I'd suggest looking at any of the top 20 coins. Most alts that ran ico since 2017 have disappointed and run out of business despite raking in millions. Just go for projects that have stood strong for more than 3 years

[Globen]

Very clear points, before you decide to hold, you should put it in your mind that holding could be short term or could also be long  term so one should diversify into doing something else to get funds. Also you shouldn't invest on any coin you see, do some research so you pick the valuable or coins with potential.

[pinkpanther03]

To prepare a long term hold, you must join in any of the bounty campaign while waiting for the good profit to the coin you hold.
With this things you have some at least source of income to get and something like you are savings altcoins for the future, just make sure
the project is promising and has a potential to increase in the future. or you can do also a day trade in any of the exchange platform.

[BennyK]

there is no point holding few altcoins for long term hold because we will continue to see new projects coming into crypto space,i always add good altcoins to my portfolio whenever i see one so your portfolio must not only consist of old altcoins only,new projects with give better returns than old projects in the future

It is good to diversify one's portfolio but what need is it to risk buying more altcoins which may not even have the potentials to be success if holding a few selected ones with capabilities of surging up in price? What matters most is the ability to choose the right coins at the right time.

[Miklight88]

That you for this update and clue as it will be very good for those who is looking for write up to reqd about holding , I have always advice also not to hold any coin with no use case or with no solid team member for a back up , and you must be very active with a stop lost button on which can prevent you from loosing all as any thing can happen.

[Omoiloye]

One thing that you must know to buy altcoin for hold long-term, don't put your money to buy at the same rate. I mean after we have decided what coins that good to invest in, let's buy it gradually until we have the cheapest price. Also, you must have good money management to do it.

The major problem is Crypto is so unpredictable that no one knows the bottom so trying to buy cheap might not be cheap afterall. The most important is no 3 o his list buy solid coins in which even if the price reduce its just a matter of when if the investor is patient enough

[jcarlo]

That you for this update and clue as it will be very good for those who is looking for write up to reqd about holding , I have always advice also not to hold any coin with no use case or with no solid team member for a back up , and you must be very active with a stop lost button on which can prevent you from loosing all as any thing can happen.

Choosing altcoin that already has a product as a long-term investment is the right choice. If altcoin already has a product, it is hoped that the company will get money to finance its operations and benefit from product sales. This will attract investors because it will definitely be profitable

[OasisDre]

In October 2017 i hold some altcoins and i thought they are good enough for long term hold but in time i start realizing that most of the coins i hold are shitcoins with no real use case,even within some months 70% of these coins are abandoned my the teams so i start learning about what makes coins and tokens survive,the best tool is research

[Kezacky]

yes it is a great way to prepare your long-term investment while the market is in bad condition, set up again about your altcoin investment and make investment investments that you think are feasible. Because not all altcoins have good price development and you should know your next plan.

[SirLancelot]

There is nothing else to add to those cause you already made a really good point about this. Even for someone that is trading on a short term, I believe they need to have another source of income as well cause the people I see here always makes it seem like one can be into cryptocurrency trading or investment without having any other side job, that’s funny.

You know that cryptocurrency, whether you’re trading it or just HODL, there are risks that are involved and you can lose your money, then what makes you think that you shouldn’t have another income? Unless you have the powers to predict the future of cryptocurrency, which I’m very sure that none of you here has it. So, I like the first point you made, anyone who is investing and trading cryptocurrency should always make sure they have a side income.

[leea-1334]

there is no point holding few altcoins for long term hold because we will continue to see new projects coming into crypto space,i always add good altcoins to my portfolio whenever i see one so your portfolio must not only consist of old altcoins only,new projects with give better returns than old projects in the future

You talk exactly like a short term speculator, who contributed to the whole reason this crypto winter is in place.

Since when is there no point in hodling altcoin long term if you believe in the project, and have found a useful utility for it? Monero will never lose its utility, and will continue to develop for as long as userbase grows, which is always happening. That is one old altcoin example.

[barbara44]

To be a good long term holder, I think that your advises must really be adhered to strictly and one more thing that I just need to add to that aspect is that we have to make sure that we only invest any money that is easy for us to afford, and at the same time loose even though chances of losing money as a long term holder is very rare provided that we invest in a reliable quality project and also do not panic sell anytime that there is a decline in that coin.

The reason why people put their mind and heart to much in some of these project is because they invest too much in those projects, and some of them even put in their last savings into the cryptocurrency market which is a very wring step to take, and above all, we also have to make research on every project that is of interest to us.