How to prepare for long term HODL

[otto93]

Now the bigger question is will this altcoin season ever turn up soon, so like you rightfully stated, one needs to have extra source of income and be very involving, aside that you can't hodl, u get to sell when you are not ready

[k@suy]

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.

Choose only the best coins to invest with, we need to invest to those who will survive for a long time. You may also see the top coins in coinmarketcap, choose among all the top 100 coins so you dont have any regrets choosing it. Prepare yourself too incase your coin will go deeper than the amount you bought it.

[terrific]

Now the bigger question is will this altcoin season ever turn up soon, so like you rightfully stated, one needs to have extra source of income and be very involving, aside that you can't hodl, u get to sell when you are not ready

Stop looking for that altcoin season, there will be no altcoin season for this year for some obvious reasons.
If you are only depending to crypto, you need to start looking for some other source of income that you should rely on.
Don't stick yourself with one source if you think you can't survive this probable long bear market for alts.

[zidanw]

The plan is the main thing to pay attention to. What are your goals for investing? How long do you expect? How much profit? all that you have to specify then you can research into altcoin to be able to find what is in accordance with what you are looking for. do not be rash in investment. especially in the cryptocurrency market. here is different from the stock which the risk level is quite large

[qiwoman2]

I totally agree with all the points that you have outlined. We need a stream of income to be coming in steadily and then growing some long term, medium-term and flipping bags, to keep growing our capital. I have now a new plan, Hold large-cap coins like Bitcoin, ETH, TRX, etc then grow also some medium and low cap coins with huge upside potential and returns in smaller amounts, leveraged with some stable coins that I can earn interest on so that I have like baskets in my portfolio with different kinds of assets. I also want to diversify eventually in assets outside of crypto and that is where the moon comes in When I have a moon phase incoming either for a low cap coin or the whole market, I will liquidate a portion to move into more fixed assets/gold back stable coins.

[White Christmas]

In order for us to prepare on a long term hold we need to get some good income and find a job in order for us to gain money in which we can invest to buy a coin and hold it until the bull run comes, just like for example me I am saving my money to buy coins and hold it until the bull run comes in which I will do a long term holding right now to be able to gain profit.

[Golftech]

Now the bigger question is will this altcoin season ever turn up soon, so like you rightfully stated, one needs to have extra source of income and be very involving, aside that you can't hodl, u get to sell when you are not ready

Stop looking for that altcoin season, there will be no altcoin season for this year for some obvious reasons.
If you are only depending to crypto, you need to start looking for some other source of income that you should rely on.
Don't stick yourself with one source if you think you can't survive this probable long bear market for alts.

A very nice ideas. If you want to survive never to relied with single option that locks you up it's always best to have alternatives. The market is volatile and there's no certain time to accurately predict what or when the market will favorable to your position.

If there's other way to get more fundings where you can add up to your investment it will extend your survival to this market.

[btcdie]

if you see from the topic title. I invest for the long term tend to choose altcoin that has new innovations in the public, like the example of ethereum on a smart contract basis, and in 2017 the peak success period, and many more altcoin that are successful, because of projects like this that are favored by investors, it's all forms of ideas or innovation. but my percentage tends to choose bitcoin for long-term investments, because this is purely for the future.

[DaveWave]

Now the bigger question is will this altcoin season ever turn up soon, so like you rightfully stated, one needs to have extra source of income and be very involving, aside that you can't hodl, u get to sell when you are not ready

Stop looking for that altcoin season, there will be no altcoin season for this year for some obvious reasons.
If you are only depending to crypto, you need to start looking for some other source of income that you should rely on.
Don't stick yourself with one source if you think you can't survive this probable long bear market for alts.

A very nice ideas. If you want to survive never to relied with single option that locks you up it's always best to have alternatives. The market is volatile and there's no certain time to accurately predict what or when the market will favorable to your position.

If there's other way to get more fundings where you can add up to your investment it will extend your survival to this market.

That's why I keep telling my friends that are planning to invest in crypto currencies to use only extra money. And they should not expect crypto currencies as an easy to become a millionaire venture. Yeah, there were already thousands of people that became millionaires from investing in crypto currencies but for sure there is an enormous amount of people that lost a big portion of their life time savings.  

[poldanmig]

if you see from the topic title. I invest for the long term tend to choose altcoin that has new innovations in the public, like the example of ethereum on a smart contract basis, and in 2017 the peak success period, and many more altcoin that are successful, because of projects like this that are favored by investors, it's all forms of ideas or innovation. but my percentage tends to choose bitcoin for long-term investments, because this is purely for the future.

We must be able to find the right momentum when we are interested in investing. As you said about ethereum which was in its heyday. we can get big profits when we can choose investments that do provide benefits. Products and platforms received by the community are quite strategic in the future.because certainly will experience price increases

[Webetcoins]

Now the bigger question is will this altcoin season ever turn up soon, so like you rightfully stated, one needs to have extra source of income and be very involving, aside that you can't hodl, u get to sell when you are not ready

Stop looking for that altcoin season, there will be no altcoin season for this year for some obvious reasons.
If you are only depending to crypto, you need to start looking for some other source of income that you should rely on.
Don't stick yourself with one source if you think you can't survive this probable long bear market for alts.

A very nice ideas. If you want to survive never to relied with single option that locks you up it's always best to have alternatives. The market is volatile and there's no certain time to accurately predict what or when the market will favorable to your position.

If there's other way to get more fundings where you can add up to your investment it will extend your survival to this market.

That's why I keep telling my friends that are planning to invest in crypto currencies to use only extra money. And they should not expect crypto currencies as an easy to become a millionaire venture. Yeah, there were already thousands of people that became millionaires from investing in crypto currencies but for sure there is an enormous amount of people that lost a big portion of their life time savings.  

Crypto currencies are not a bad option to invest in as far as a person is investing in the right coin. Digital market is full of options and among those, only few are beneficial. People who invested in bitcoin and did not buy or sell them out of emotions have been rewarded. No one can deny this. If one can become a millionaire, then others can also. People lose due to their blunders and mistakes.

[HabiebRiziq]

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.

This is good information for people who want to hold in the long run. I have also experienced the same thing, when I make the coins that I hold as a monthly income, but what I get is sometimes disappointing or not in accordance with what I want, so it is important for us not to depend on the coins we hold and we must have other income, maybe by trading small amounts. And don't forget to keep updating information about cryptocurrency and observe the movements of the coins you hold to take the next step to keep holding or not to avoid failure.

[Samboo]

One of the major ways to become prepare to hold coins in long term is you must have another source of income. In general in crypto market, most of investors sell off their coins for want of money. They somehow manage money to invest, but do not have other sources of income to pay off the money borrowed to invest as they already suffer losses in the market.

[pandanaran]

I agree from the points you have mentioned above, especially with points 2 and 4. that not all altcoin is good for the long term, you must be more selective before investing in any altcoin especially in many cases altcoin has lost its value. so I think if you are a wise investor, you can certainly reconsider before investing in altcoin and also always update every portfolio you have.

[Suslived]

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.

This is a great list BUT...

When long term holding, I'd like to think that you don't "always" need to stay updated about crypto. I'd actually think that I am long term holding exactly for the OPPOSITE reason which is because I don't want to need to be constantly updated with crypto news and shenanigans.

[beachbummer]

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.

This is a great list BUT...

When long term holding, I'd like to think that you don't "always" need to stay updated about crypto. I'd actually think that I am long term holding exactly for the OPPOSITE reason which is because I don't want to need to be constantly updated with crypto news and shenanigans.

You will need to at least stay updated on your own coins. For example, if a coin swap happened due to a chain migration, you may lose all your coins if you do not claim them within a period of time. One recent case will be BTCP in February this year.

[Xcode7]

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.

This is a great list BUT...

When long term holding, I'd like to think that you don't "always" need to stay updated about crypto. I'd actually think that I am long term holding exactly for the OPPOSITE reason which is because I don't want to need to be constantly updated with crypto news and shenanigans.

You will need to at least stay updated on your own coins. For example, if a coin swap happened due to a chain migration, you may lose all your coins if you do not claim them within a period of time. One recent case will be BTCP in February this year.

because it is important to maintain the funds owned, if you do not get the latest information you will lose a lot of knowledge about existing information, the worst that you say if you need to swap coins, if not done then the coins you invest can be lost and cause losses

[crisanto01]

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.

This is a great list BUT...

When long term holding, I'd like to think that you don't "always" need to stay updated about crypto. I'd actually think that I am long term holding exactly for the OPPOSITE reason which is because I don't want to need to be constantly updated with crypto news and shenanigans.

You will need to at least stay updated on your own coins. For example, if a coin swap happened due to a chain migration, you may lose all your coins if you do not claim them within a period of time. One recent case will be BTCP in February this year.

Exactly! Added to that is we need to be prepare:
First, is your fund, how much you are willing to invest on it, how much is your allotted capital.

Next and important thing is: be mentally prepared, as the value of crypto differs from time to time, and from the snap of our hands the value can be down to 1-99% or worst will really drop, so we should be ready in that moment.

[terrific]

Stop looking for that altcoin season, there will be no altcoin season for this year for some obvious reasons.
If you are only depending to crypto, you need to start looking for some other source of income that you should rely on.
Don't stick yourself with one source if you think you can't survive this probable long bear market for alts.

A very nice ideas. If you want to survive never to relied with single option that locks you up it's always best to have alternatives. The market is volatile and there's no certain time to accurately predict what or when the market will favorable to your position.

If there's other way to get more fundings where you can add up to your investment it will extend your survival to this market.

It should be done by everyone. Because I've seen problems like that and they were all problematic about their survival in crypto market.
All they depend on is with bounties and after seeing that it's starting to drop in legitimacy, they all think if it's possible to up.
The solution is very simple, add another source with crypto or not related.

[Kodok Bencot]

Looking at market conditions now I only make the top rank for long-term hold, most projects die and scam because of many factors so that for long-term security, holding only top rank coins is the best solution.