How to prepare for long term HODL

[Metall303]

Just buy coins and forget about it...
better to buy something like ledger and hide it in flower's pot

Do not just forget about your coins. if these are altcoins, then you always need to track what is happening in this campaign. monitor the course and sell your coins on time

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[qweqwe2121]

I also do all your Points. But more precisely Money that I have used I consider to be lost money (buy coin / token ico), why? because I feel this crypto world is like gambling. Maybe this is a little different from you guys. But I believe in long term Hodl.

[BITDV]

I agree with you, and everyone have their own method to minimize risk while HODL. Related with no 2 and no 3, i have my own method to minimize risk.

No 1 : it must, no doubt with this

No 2 : I just select some altcoin who give profit, in this case i divide into two options
option 1, rely on their market capital. I select coin with huge market capital between 1 until 300 .
option 2, rely on their benefit to hold this coin, sometimes coin with low marketcapital still chosed by me. I just put my risk in this criteria only 15% from my crypto wealth

No 3 : I define real use case more specific. many coin have real use case but i still not interested with them

No 4: Always stay update, do not choose coin with words "Soon we will....", "We will ...", "Next week ....", or words hears like too much promise . Whatever their real use case, it's not worth for me

[Rikotin]

I do not have the right preparation, it's just that I follow the market trend if my coins do not have price developments, of course I will replace them with coins that have further price developments, and vice versa.

[slaman29]

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.

But this is what will be good and healthy for the entire ecosystem, I personally think more people should put their hearts and minds into projects. Look at Bitcoin, at LTC, at Monero, these are great projects who will live on long after the original people leave but only because these originals put a lot of their effort into them.

[D.Cap]

I do not have the right preparation, it's just that I follow the market trend if my coins do not have price developments, of course I will replace them with coins that have further price developments, and vice versa.

I think the best long term results will bring major coins. Hold BTC, if you feel that too many bears enter the market, exchange BTC for BSHORT. And vice versa.

[judeafante]

Having your own income is very important if you want to buy coins that you want  in the bear market, bear market is the best time to hodl your coins and to buy coins with good potential but it will not become possible if we don't have funds to buy or we have daily income so we can stay hodling it.

[Plinteng]

the way I use to invest in the long run with some potential altcoin, besides that I also don't forget that holders are required to always monitor your investment so you will know what actions you will take when your coins go down / prices go up.

[freedomgo]

the way I use to invest in the long run with some potential altcoin, besides that I also don't forget that holders are required to always monitor your investment so you will know what actions you will take when your coins go down / prices go up.

You don't have to monitor always by just looking at the price when you are investing for long term, the word "HODL" was invented because that means a long term hold, or Hold on Dear Life. when you just look at the price, that doesn't help a lot because you could possibly panic watching it regularly, what you need to focus is the news about the project as that's the one that tells the real info compared to the price that we see on a daily basis.

[LowBrain]

the way I use to invest in the long run with some potential altcoin, besides that I also don't forget that holders are required to always monitor your investment so you will know what actions you will take when your coins go down / prices go up.

If you invest into any project, there is no reasone to monitor constantly. You should focus on how the company full fill the roadmap and how price respond to main stages. 

[The Cryptologist]

I don't recommend a very long HODL.  HODL should only  for your altcoins that are 10%-20% of portfolio.  Then the rest should be a short term like half a year or a very active swing trading. Everyday there is always an opportunity in the market so use it to your advantage and that also enhances your experience in trading. Like they said, patience is a virtue but just waiting for everything does not give good result because in order to achieve something you need to make effort.

[Sebas.tian]

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.

In addition we should always buy small like 6% during ICO or IEO and after that we can go for another round of buy to hold like 12%, this will only help the buyer to stay safe without any oanic, this has happened to.me severally and was anke to contains it because of my carefulness which everybody should know. I buy tokens that has a workable product behind them.

[baigreen]

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.

In addition we should always buy small like 6% during ICO or IEO and after that we can go for another round of buy to hold like 12%, this will only help the buyer to stay safe without any oanic, this has happened to.me severally and was anke to contains it because of my carefulness which everybody should know. I buy tokens that has a workable product behind them.

I think with the arrival of IEO on the market, long-term investments have become relevant. Why? Yes, because you go to Binance, invest in IEO, get x2.5-5 and gradually increase your capital. Replenish your BTC portfolio. It makes no sense to freeze your asset for 5-1 years. If we say investing 1,000,000 you will receive 2,500,000.

[comchien]

You have properly updated and enough conditions for a person to be able to HOLD the Altcoin elements, I will consult and apply the things you mentioned to avoid losses when participating in this market, thank you very much for sharing.

[Vektrum]

Preparing for a purchase and long-term storage is not difficult, just create a wallet and keep a private key from the wallet in a safe place. It is more difficult to choose the coins that you plan to purchase and how to distribute the budget between the coins that you will buy. I prefer to keep the bulk of the amount in BTC but not more than 50% and invest all other funds in other coins.

[joybella]

I think the last point is the most important. Staying updated saves lots of loss in situations where a sudden market reversal happens. If an investor isn't updated on market situation bagholding is inevitable. Long term hodl in alts not adviceable holding Bitcoin is the best trade alts.

[Oyarebu]

Long-term HODL must understand about the potential of Altcoin that we hold.  If it's a potential Altcoin, it will benefit us later.  But if Altcoin is bad, then we will lose our time and assets.  Before doing HODL, we must understand very well with Altcoin that we will invest in.

Yes, before one will embark on long term investment, he must see a good case use for the product created from the project before invest. One other issue raised by the OP that's more important is that, one much have another source or sources of income before invest on a long-term HODL.

[mr_random]

Long term HODLers usually buy the cheap in order to sell at the surged prices, there is no plan, just buying the potentially valuable coins for the cheap price will do the job. Longstanding price swings are more reliable than daily running behind the scalping on the crypto market.

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.

The shitcoins are the common problem of the crypto ecosystem, there is no exit for both the shitcoin owners and invested people. Knowing what to buy forces the investor to separate the reliable and counterproductive coins of the projects.

[RealMalatesta]

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.

Bounty campaign, do you think everyone that you see here are all interested in bounty campaign, not everyone you see is an hunter, we have so many people on this forum that would rater just use their money to invest than to join bounty and then waste some of their time doing some projects that will not even pay them and give them more tension when they would have easily committed their time into doing other things.

It is investment that you make, and then go away into the world out there to look for other opportunities that could earn you money while you just watch once in a while to monitor the progress of the crypto investment, other than traders, it is only lazy people that I see watching the market every day for bitcoin to double that small change they have in there.

[FaucetKING]

With all the respect to you i must admit that you're too wrong. You should never advice any body because you're just selling words and not facts. What's wrong about hodling or investing in the virtual coins that have no "real" use case? I must say that there's alot of highly risked assets there but there's also other projects "with no real usecase" at the moment but they have made up millionaires, look at "Verge", it was useless one day but it made a poor guy become a millionaire.
https://www.reddit.com/r/vergecurrency/comments/7kc3xf/i_just_became_a_millionaire/
Rethink about that.