How to prepare for long term HODL

[huu78]

Prepare it as you said, but if it is not in season it will be difficult to see the development in the future, whether this coin that we hold will undergo change, increase or others.
I get income from AirDrop and bounty hunter which I will play in short term and long term trading as you said. The point above I strongly agree but there must be a risk in the future that can suddenly correct project true use is just missing because in crypto all can happen wherever and whenever it is. We are only able to prepare the fore plan to minimize our risk of investing.

[radjie]

I agree with the first point mentioned by Op, to prepare long-term HODL we must have another job to fill our activities to get income, because if the expected income only from investment we certainly can not get income in a short time. in addition, extra patience is also needed to prepare HODL for a long period of time

[Dangki01021991]

I stay up to date on cryptocurrencies daily, read the news and follow Alcoin. Thank you for your helpful information. I will not miss any good chances.

[ProteinBar]

right. Many Altcoins are not good for long-term holding for a variety of reasons. Operational products need to be focused more. and especially those currencies must grow stably.

[Nezerlan]

At the end of the day, it might all come down to luck if any coin you hodl actually moons over a period of time. So many factors can affect the project behind a coin. Team changes and defection can end a project abruptly. Also, for tokens, migrating to mainnet might require you to do swaps which you might miss out on if you hodl without keeping tabs on the project updates  regularly

[dimox]

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

its a common secret. crypto just for gain profit, its good as long as they can put their coin on exchanger.

point number 1 is good for long term. they must have stable income, or montly income to fill their need. usualy, richest will play long term. or you can day trading with some capital.

[PavelMed]

Be patient. You must be prepared for the fact that you will not see a profit for a long time. Or maybe you will not see at all. You must be ready for any turn of events.

[unicode.03C0]

To hold long-term we must have preparation, it does not mean that the case is easy for holding coins. We must prepare mentally
we whatever happens must reach the target sale that we have set, the price will go down or there may be bad news come, we
should not be affected by these disturbances. The following we must have income from other places to finance our daily lives while
waiting for the coins that we hold until the target. And the last if it reaches the specified limit have not reached the selling target,
we must have the courage to make a decision. Will we continue to hold the coins or decide on the cut loss.

Like bankroll at casino.  Have enough to stable the bad times always
Or wls you gonn have no luck you also got no chance

[KimmyF]

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.

In my case I can't update all the time, so missed huge news from the projects development process. I invested in right coin buy low amount then i saw message and realized that I missed swap token. Another source of income must need to earn good profits. You could be risk free if you select several coin then wait for profits to another coin.

[key4co.in]

In my opinion for a long hold, you should only use what you have in surplus as an investment. Bitcoin is the best investment cryptocurrency for a long term,  this has been proven far back in 2016 when I first bought my starsh and hold till 2017 when I made some good dollars. Long-term investment is good in bitcoin only.

I agree with you when you mentioned that the best coin to hold for long term is Bitcoin but I don't concur with your last sentence, stating it's good in "bitcoin only". There are different cool strategies in long term investment especially, do what works best for you from experience. 60% of my overall holdings is in Bitcoin, 20% is in ETH and the remaining 20% is in a few altcoins I believe have good future prospects.

[TheBusstop]

You made a huge points on identifying altcoins worthy of holding. i will like to ask if you have any or knew any tokens that have quality use-case and are reliable. altcoins that you think that are worth holding apart from Bitcoins and ethereum because i believe that these coins are exchangeable on trading platforms.

[fuguebtc]

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.

Great points. Point 2 and 3 are other way of saying, choose your coins wisely. Now wisely means invest in coins that have strong background, strong  team and have real world use cases. That requires research and spending time on crypto coins.

[Kay94]

You always have to be ready for any turn of events because cryptocurrency is unpredictable. There are times you'll make profits. There are other times you'll incur loses too. That's the game of cryptocurrency.

[Broiler78]

what I prepare for hold is mentally prepared for long-term hold. besides looking for other income from crypto. mentally very needed in this case.

[meliodas]

If you want to be prepared for long term hold without worrying about the safety of your cryptocurrencies then you should buy a hardware wallet. Nano Ledger wallet is one of the best hardware wallet in my opinion and that is the best way to preserve a cryptocurrency for long term hold since it is very secure and you really have your cryptocurrency since it is on your hands.

[Exidous]

what I prepare for hold is mentally prepared for long-term hold. besides looking for other income from crypto. mentally very needed in this case.

I think you need to control your capital before investing in the long term because during that time you can only wait for that coin to rise so be careful. In my opinion right now is suitable for long term investment and you should plan in the most detailed way to ensure you can make a profit when you want to sell. In addition, you should also buy a hardware wallet to keep the property because this wallet is often used by a lot of people.

[ðºÞæ]

How to prepare for long term HODL

Throw away the private key and you are the king.

[ameliana]

point no 1 between trading and also work in the real world, if you have knowledge about trading then it is a good way to get daily benefits besides investing in the long term. and in the real world you don't need to worry because you have a steady income every month.

The next most important point is that you invest with coins that have good price developments, and don't forget to always renew your investment, because not all coins can survive in the market.

[Bim abk]

point no 1 between trading and also work in the real world, if you have knowledge about trading then it is a good way to get daily benefits besides investing in the long term. and in the real world you don't need to worry because you have a steady income every month.

The next most important point is that you invest with coins that have good price developments, and don't forget to always renew your investment, because not all coins can survive in the market.

by having income from other places, the investment will be more flexible because the funds used are not daily funds. but with the investment conditions must be really promising and do not forget to update existing data.

[Bellarg]

5. HODL only releaible projects. There are not so much of them on the market