How to prepare for long term HODL

[doomistake]

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 agree about number 1 and 4, that is the biggest factor we should consider first when we are going to hold for a long time. I'm holding my coins for about 2 years already and if you don't have any savings that you could spend while you are waiting for the right moment to trade to get your profits or if you don't have any source of income, then you will be force to give up holding.

And number 4, based on my experience, you'll lose your profits by being an ignorant, not all of the coins are going to stay forever, the burning of them are scary enough for you to always stay updated if you don't want your profits get cremated.

[djsugar]

Note: This is not about how to identify good coins to HODL
This is about how you can be a good long term holder

~snip~

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.

the most important point is this only.
The market is so unpredictable and uncertain, that staying updated of every market move becomes crucial even if you're in long term hodl. Market moves drastically which could even wipe out all your investment if you're invested in wrong altcoin. I think if you're looking for long term investment in crypto, go for either Bitcoin or top 5 altcoins. Don't take risk by adding low cap coins in your portfolio.

[Vishnu.Reang]

Think twice before you decide for long term hold with these smaller altcoins. Their acceptability and popularity can change a lot in a relatively short timespan and you need to review your decision to hold every two or three months. In case the coin is going down and the future prospects look bleak, then you need to sell these coins/tokens before they become dormant.

[ajiz138]

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.

Of course there must be other income. Longterm coin hold is not for a moment and it takes a long time to reach the desired target. Can determine the target according to what we can. Choose coins that are good for longterm. The money used to buy longterm coins must be money that is not used for anything, never use your loan money or shopping money, it will be very bad and not recommended. Make sure HODL becomes one of the profitable investment methods for us and you need to be patient to get the targeted results.

[miklesm]

If you are not good at trading, HODLing might be the best option for you to earn some money. You can just buy Bitcoin and some top altcoins and forget about your portfolio for a few years.

[ðºÞæ]

If you still buy currency, you do it wrong, earn it.

[Youghoor]

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.

These are indeed a good way to prepare for long term HODL but I think you should also get to know and understand the principles of the crypto market and also the principles of basic investment. Without these principles, you might invest in a long term hodl and still make a huge loss even if the crypto coin is the best coin for a long term hodl.

[kodtycoon]

preparing hodl or long-term investment is only about patience and high self-confidence, because when you have decided to spend money on a project then at least you are sure of what you have studied in related projects. so next is to remain patient and confident in what has been decided at the beginning so that you don't panic when a big dump happen

[odukoyaewatomi27]

Holding coins do require cautious arranging and arrangement. So we as token holders can acknowledge whatever dangers and potential benefits we will get later. These four things are surely significant in holding. Particularly about picking the most suitable coin for long haul investment. I concur with the criteria for picking coins that have genuine use later on. On account obviously on the off chance that the product or platform is effectively made, at that point the estimation of the token will increment. What's more, one more thing, our mindset must be solid with the hazard that the coins probably won't last and afterward they will turn out to be dead coins. Since long haul holding can take over 1 year

[dentolas]

nice informative topic, thanks!
Everything seems easy for those who do not do it, but it is not easy to be a sucessful holder... holding does not mean forgetting about your coins, if you are not on top of things, you'll loose your chance to make a good profit...
all this, besides being able to choose the right coins to hold...

[Russlenat]

Speculating means you are hoping that the value of the coin will rise overtime. I do not speculate because there is only low chance of winning. Doing technical analysis can help you to prepare for long term investment.

That is not right all the time due to the nature of the market is very unpredictable.
With what just recently happen with a big pump, I don't see any speculation that's telling its gonna happen prior, that's my basis,
For long term, if a coin you are holding has a true potential, you just have to believe and hold it longer, that's simple but this technique is very effective.

[Bonenx14]

Speculating means you are hoping that the value of the coin will rise overtime. I do not speculate because there is only low chance of winning. Doing technical analysis can help you to prepare for long term investment.

Technical analysis is indeed more important than hope, because there will be more certainty if you do the analysis. for long-term investment, the analysis can be done with a long time also different from daily trading in the time period. and lastly in my opinion the important part is patience when doing hold for long-term investment

[cichaescut]

The most important advise is that you should be prepared with your mentality. Because it won't bring you benefits, if you would withdrawal with loses after six months of holding your tokens. Be prepared for worst and hope for the best.

[DevilSlayer]

first of all you should consider the patience that you have in order for you to do long term investment. Determine how much capital that you will put and consider also the time and of course the potential reward that you may get.

[TitanGEL]

first of all you should consider the patience that you have in order for you to do long term investment. Determine how much capital that you will put and consider also the time and of course the potential reward that you may get.

There are only few altcoins that are suitable to long term investment, you should also know what altcoins that are good in long term investment. There are altcoins that are being delisted in the market so it is better to identify first if the altcoin that you will buy have the potential to survive in the obstacles that the market facing.

[GrayFullbuster]

It is better if you will focus first in your risk management before you invest in long term. Considering the fact that the cryptocurrencies are too volatile, you should have stop loss because it is important for you to minimize the losses.

[NeironixNV]

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.

Good advice, you should also follow various news portals such as the cointelegraph, neironix.io, bitcointak e.t.c.

[trauchot]

For starters, the best thing is of course, if you want to hold for a very long time, you need to choose the top cryptocurrency because holding new cryptocurrencies is too much a risk for the loss of your investments, therefore, investing in top cryptocurrencies you definitely will not lose and your investments will be in a safe place.

[romero121]

When the plan is for long term holding it is always good to go with low price assets that has got good trading volume and listing on large number of exchanges. Long term holding always requires continued observation of the changes happening with time. Only through that it is possible to attain good profit.

When we go for long term holding we should always have in mind to cash out profit at the right time. Most of the long term holding will be fixed based on the price and time period. If the price reaches high before the targeted time period we need to be ready to take the profit and invest again.

[jazmuzika217]

You have a good point . All we k ow that long term hold is very risky so we should be knowledgable and think well the kinds of coin that we will hold because there are lot of coins that are easy to die so be carefull. We need also an extra income because our coin or capital will be like an sleeping giant it will be like your time deposit that you waot for the right time to encash. And the most important thing is to be updated because all we know that the crypto price is move quickly so we need to monitor it to know when to sell your coin.