How to prepare for long term HODL

[stephanirain]

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.

You need to have a strong will in long term investments. If you cannot separate your emotions to the job, you will most likely not last in this industry. It is tough to stay in track when there are a lot of rumors running around an tries to discourage you. But it also important to keep in mind that not all investments will suceed though it will depend on how strong the coin is.

[imstillthebest]

you said its not about good coins but its how you hodl but why you have a 4 reasons ? the two of your reasons are about picking a good coin which is against on your first sentence . its not really about hodling alone because no matter how good you are at hodling but if you only pick a bad coin , i dont think youl be sucesful of earning a profit but the other two of your reasons are okay and i agree on them .

[Pinkris128]

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.

Hodling is not an easy process. It will be wiser indeed to find additional jobs to have income. Long term investments are difficult to maintain especially if you are easily swayed by the fluctuations in the market. It is a strength not to be discouraged by different factors and impulses caused by the pressure in the community and in te market.

[Aabcde]

What I do, of course, is to select coins or tokens that have a bright future because of the real use case. Of course, saving bitcoin is mandatory for me.
I buy altcoin with the money I get from airdrop or bounty, so if there is a loss it doesn't matter because the money I use is free money or prizes. For the necessities of life, I can still rely on my monthly salary. As the OP said, keep updating with the altcoin that I chose so as not to miss selling if at any time a case occurs.

[Ayiranorea]

you said its not about good coins but its how you hodl but why you have a 4 reasons ? the two of your reasons are about picking a good coin which is against on your first sentence . its not really about hodling alone because no matter how good you are at hodling but if you only pick a bad coin , i dont think youl be sucesful of earning a profit but the other two of your reasons are okay and i agree on them .

Here the problem is picking the right coin for long term hold. Not every coin profit good in the long term, analyzing better we need to pick the right ones. In such a way second point is very important. Initially he has stated the indirect warning you can't expect results as one wish, so having a job secure the life. In the third point it is also about choosing of the coin, finally the continued observation is a must to make changes to the holding if something isn't working as scheduled.

[Bitbtc8]

The question is will you be able to keep holding after several months of holding? even when your coin keeps losing value? how determined are you? because holding is not for every one, you have to deal with it both physically and mentally

[bryant.coleman]

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.

Bitcoin has survived for more than a decade, because it represents an idea. It is not the best coin out there in terms of technology, and neither does it represent the most secure cryptocurrency among the thousands of different coins. And the scene is constantly changing, with new coins and tokens being listed every day. Under such circumstances, I don't expect an altcoin to maintain its peak acceptability and user base for more than 2-3 years. Sooner or later, it will be replaced by a technologically superior alternative. So you need to keep that in mind before deciding for long-term holding.

[fuer44]

based on what I do, just young.
I have $ 100, and I buy coins on the market whose prices are down or the graph is red. see the history of the highest prices too, then I confidently bought it then hodl for the long term. don't think too much if you want to be long-term, look at the price that's going down. unless you want daily trading, you have to be more thorough.

[cahbagus555]

I think, if we want to invest for the long term, what needs to be prepared is research and mentality. With research, we can find good projects and are fully supported by a solid developer team. With a strong mentality, we must be able to be patient when prices move quickly and not easily panic when coin prices fall

[carriebee]

To prepare for longterm hodl base to what I do is if you have a chance to buy that potential coin grab that opportunity to buy, then hodl it until you see a gain profit. Always observe the market so you know what is the best to buy now and if your hodling coin gain a profit. No exact time when bulls to come so always be observe the market so you not missed anything especially if you hodl potential coins.

[nomenclatur]

altcoin will always be decreased and increased. there will always be a decrease and increase over time create a unique crypto trading gains and losses for altcoin indeed follow bitcoin until now. altcoin enough to survive when XRP prices are falling not too strong when the price of Bitcoin below.

[llecrf]

I missed some information from altcoin that I hold, point number 4 I always miss when I have a lot of work and ignore some important information.
But in some cases, I have altcoin which has a real product and to date, I have held it for a long time according to the road map they provide on the website.

[fortunecrypto]

All of your points are not possible if you do not have the means to support yourself while holding all these coins, people are selling their coins because, of emergency, in my experience, I always lose all the good coins that I want to HODL because of personal needs and emergency, so it's important that you have the means to support yourself and your family.

[Oneandpure]

altcoin will always be decreased and increased. there will always be a decrease and increase over time create a unique crypto trading gains and losses for altcoin indeed follow bitcoin until now. altcoin enough to survive when XRP prices are falling not too strong when the price of Bitcoin below.

Did you trust with ripple altcoin although have lower price today/ I have wait for holding ripple more than two year where invest with ripple on higher price, I have closed my account and never looking anymore with ripple coin price because always sadness got ripple have very cheap price. Although ripple have good rank on coinmarketcap but price of ripple still down and many investor lost their investing in ripple coin.

[ttcsalam]

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.

Pretty much a great post for newbies like us. Dear I wish you all the best. And as well as new ones, I would like to say. That is because of your own money and lazy money that will not hurt you if you lose your money. If you invest then the chances of cheating will be much lower.So always invest carefully.

[shadowduck]

I missed some information from altcoin that I hold, point number 4 I always miss when I have a lot of work and ignore some important information.
But in some cases, I have altcoin which has a real product and to date, I have held it for a long time according to the road map they provide on the website.

if the project clearly follows its roadmap for a long time then this is a very good sign for you. this project can bring you a very big profit when the altcoin season  will come

[kapalmabur]

I missed some information from altcoin that I hold, point number 4 I always miss when I have a lot of work and ignore some important information.
But in some cases, I have altcoin which has a real product and to date, I have held it for a long time according to the road map they provide on the website.

if the project clearly follows its roadmap for a long time then this is a very good sign for you. this project can bring you a very big profit when the altcoin season  will come

what is the name of altcoin that you now believe in and save for the long term ?, I myself only have waves,
I bought it at $ 2, and now the price of Waves drops below $ 1, this makes me feel insecure

[Inkdatar]

All the list above you have mentioned is helpful. The point is the market is very volatile and we should be prepare for the circumstance may come when the price sudden plunge in the market. Be prepared emotionally, and mentally because in trading we might lose and can earn in this industry. Also, the number 4 in the list is the most I experience lack of time when holding long term coins that is why we have to be updated always about the project.

[Malamok101]

altcoin will always be decreased and increased. there will always be a decrease and increase over time create a unique crypto trading gains and losses for altcoin indeed follow bitcoin until now. altcoin enough to survive when XRP prices are falling not too strong when the price of Bitcoin below.

That's normal for those traders who manage decrease and increased for buying and selling coins for all altcoins you can see on the market.

[toast]

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.

for now investment in crypto currency with long-term investment or short-term investment has not been able to be done fully and become my side job and is not too focused because I have a reason the government in my country has not fully recognized the crypto currency as a valid currency and even still prohibits direct transactions with crypto currencies