How to prepare for long term HODL

[TelolettOm]

First of course we must choose the right altcoin. To be able to get the right one we have to do an analysis. market analysis. price. development. progress and community. That point is very important for me when I want to hold in the long run. not our problem is too complicated, but several times I have experienced cases that altcoin is even more ruined when the price is wrong in the election

[KnightElite]

You should know what is fundamental anlysis and how it works if you are planning to do long term investment. You should study the coin first and also the demand of the coin in the market for you to know if the coin that you will buy will give you a gain and not loss.

[Rampagoe004]

The tips that you make are actually very good for us to use in doing long-term holds. We must always update the latest news because the altcoin we hold must have an update, but I prefer to use short-term hold because the risk is smaller than long-term hold, but it all depends on each of us.

[Bitbtc8]

Everybody needs to start staying calm when market is falling, people are spreading news on here that you should dump your altcoins before its too late, there is no such thing as too late for altcoins, many altcoins have real use case and few don't, its better to do your own research very well before investing a dime

[Sithara007]

The investors first need to ask this question to themselves - out of the thousands of cryptocurrencies out there, how many of them are suitable for long-term holding? I have seen coins which once ranked among the top-10 list in coinmarketcap losing as much as 98% or 99% of their value in less than 12 months (a perfect example is that of Cardano).

Only coins that are assured of continued development are suitable for long term holding. And this is especially problematic, as very few coins would qualify under this criteria. Even Ethereum is facing a lot of issues right now, as the development has slowed down and the users are facing a lot of issues due to bugs. The rolling out of Ethereum 2.0 has been postponed multiple times (the last time I heard, they are targeting Q4 2019, which once again sounds unrealistic).

[Savemore]

The investors first need to ask this question to themselves - out of the thousands of cryptocurrencies out there, how many of them are suitable for long-term holding? I have seen coins which once ranked among the top-10 list in coinmarketcap losing as much as 98% or 99% of their value in less than 12 months (a perfect example is that of Cardano).

Only coins that are assured of continued development are suitable for long term holding. And this is especially problematic, as very few coins would qualify under this criteria. Even Ethereum is facing a lot of issues right now, as the development has slowed down and the users are facing a lot of issues due to bugs. The rolling out of Ethereum 2.0 has been postponed multiple times (the last time I heard, they are targeting Q4 2019, which once again sounds unrealistic).

Long term investment is not easy as you they think, it requires a lot of studying and analyzing before you can do a successful long term investment. Most of the cryptocurrencies have a negative ROI and have a average of -99%. It is better if we will buy potential good coins if you will do long term investment.

[sapnu]

The tips that you make are actually very good for us to use in doing long-term holds. We must always update the latest news because the altcoin we hold must have an update, but I prefer to use short-term hold because the risk is smaller than long-term hold, but it all depends on each of us.

You must be updated on your token at all times because you are making sure that the price or value is not descending, and if you are updated there are no possibilities that you lose your money. And another thing, you should have another source of income because holding for a long time does not give you money so you should have extra source of income for you to be able to have money to spend, especially for your necessities. You should have also solid portfolio for you to be able to secure your money and have some solid plan in trading when the time comes, the time that the value of the token rises up and you are ready to trade it. But for you to be able to earn a lot of money you should choose the right altcoin that you think may help you to earn bigger.

[sayaya17]

To choose the right coin in a long-term investment is not easy. Points made by you are indeed many holders doing the same research. We have to look for opportunities which coins will roughly make new updates to increase the price in market, it is very possible for us to get profits.

[joseyphil82]

The tips that you make are actually very good for us to use in doing long-term holds. We must always update the latest news because the altcoin we hold must have an update, but I prefer to use short-term hold because the risk is smaller than long-term hold, but it all depends on each of us.

I think it all depends on the project you are holding, for example holding ETH or ripple for long term is a good choice because these coins have futuristic guarantee, they will always be around standing next to the king (bitcoin) so instead of the short term when long term always brings the highest ROI spend time to pick coins that are good for long term

[matchi2011]

Everybody needs to start staying calm when market is falling, people are spreading news on here that you should dump your altcoins before its too late, there is no such thing as too late for altcoins, many altcoins have real use case and few don't, its better to do your own research very well before investing a dime

Things that every investors needs to understand while working inside this market, it's hard to follow those people who  always have their own speculative opinions but doing your best research, and study things that will work with your investment instead of listening to others point of view.

Long term investment is a choice to where you are expecting good outcome with your invested money, work for your knowledge and it will work for you after.

[lienfaye]

The tips that you make are actually very good for us to use in doing long-term holds. We must always update the latest news because the altcoin we hold must have an update, but I prefer to use short-term hold because the risk is smaller than long-term hold, but it all depends on each of us.

Yes it all depends on our strategy and how we deal with it. I prefer long term holding as best suits me because I dont need to monitor the market often since I have a set target price on when to sell. However just like what op said we have to be careful on choosing what coins to invest in because its not easy as it seems. There are only few coins worth to hold for long term period like the well-established coins.

[barnes13]

In investing, we should not really bother with the decisions we have made. If we are not sure of the project we have chosen, we just need to look for others and learn how much potential the project can produce. And if we have thoroughly studied and believed in the project, we just need to wait for the right time. Let the money work for us then take the advantage of our investment returns.

[k@suy]

The tips that you make are actually very good for us to use in doing long-term holds. We must always update the latest news because the altcoin we hold must have an update, but I prefer to use short-term hold because the risk is smaller than long-term hold, but it all depends on each of us.

Yes it all depends on our strategy and how we deal with it. I prefer long term holding as best suits me because I dont need to monitor the market often since I have a set target price on when to sell. However just like what op said we have to be careful on choosing what coins to invest in because its not easy as it seems. There are only few coins worth to hold for long term period like the well-established coins.

Long term hodl is quite tempting, there will be possibilities that the coin you are hodling may have some dips, look at the chart of XRP for example last year it has a high price but now look at its price. If you want to hodl it then you need to have a brave heart for you not to be easily distracted in every dips that a coin will take.

[Bightening]

I very much agree with advice number 2 and 4. These are two points I keep close to my bosom. If you’re going to keep crypto long term, I mean really long term, then it’s not for all tokens. Not even all top ten tokens on CMC ranking at that moment. Things change and these tokens lose devs working on the project. Check back in 2011, there were other tokens like Bitcoin, but they’re no where now.  Check back in 2017, Some top CMC tokens are not in top ten anymore (not even top 20) and the worth part is they’ve lost most part of their market value. And there seems to be no more development going on by the project team.

[confreslamp]

Everybody wants to earn profit as soon as possible, but it does not work all the time. As it is stated, you always need to have another source of income, because it is impossible to live from trading or hunting on such a market.

[nxnqauff]

For me point 3 and 4 are challenging.

How we can be keep updated when the market is getting broader and borader with lots of n number of coins coming each and every passing day?

[Ducky1]

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.

If your investments are long-term, for example for 5 years, it is not necessary to constantly monitor the news about the coins that you hold, it is enough to study the roadmap and the terms set by the project team.

[JC btc]

Yes, that's what holders need. especially big capital. The majority of holdings fail because the holder does not have enough capital to cover the cost of living. That led to frustration and not wanting to hold anymore.
Therefore, before holding, we need to have a large capital and thoroughly research the business to always have a great faith in it. That's the secret I learned from Warren Buffett.

First, you need to prepare your fund, make sure that you have some savings so that you cannot sell your holdings at loss, then second is, be mentally ready, time will come when you will see your holding fund decreasing, be ready on it as it might happen all the time, third, have a long patience .

[robelneo]

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.

For me, this is the most important I also used to rely on my online income for my family's need I always ended up selling coins that I'm trying to hodl, this is a source of regrets, there are several instances that I sold some of the promising coins I've had  because of our daily needs and after a week it pump 300% and keeps going up, it happens so many times, I have no choice but to augment my income so I can continue hodling coins that have potential in my portfolio, If I didn't get a job I would have sold everything.

[shaheer001]

great post very good info for all investors, holding coins without searching real project and the future importance of the project is like throwing your money in a deep well.