How to prepare for long term HODL

[Oyimeelijah]

preparing for long term hodl is very important, the points above are very note worthy and i believe if we can key into them we should be able to make gains at the end of the holding period. alternative source of income should only come as the last point because there are so many people that depends only on crypto and they have been able to manage their resources very well to be able to hodl for long term.

[lienfaye]

preparing for long term hodl is very important, the points above are very note worthy and i believe if we can key into them we should be able to make gains at the end of the holding period. alternative source of income should only come as the last point because there are so many people that depends only on crypto and they have been able to manage their resources very well to be able to hodl for long term.

Indeed, holding for long term is not that easy and temptation is there if something went wrong in the flow of the market. Holding worthy coins is a must to be able to hold without worrying if your decision is right. Having another source of income is also needed so you dont need to sell in a wrong time because you're in need of money since you have other resources to count on.

[bohr]

There are a few altcoins I plan to buy for my long-term portfolio. but they need more time. I also think that without BTC there is no long-term investment portfolio.

This is really important when people share their portfolios and they state they want to hold their coins for the long term I am always surprised by the lack of bitcoin in such portfolios, I could understand that if the person building his portfolio was only interested in holding their coins for the short term, but when it comes to long term growth there is not a coin in this market that can challenge bitcoin and its great performance over the years.

[jajorforce]

I strongly agree not all altcoins are good for long term durability. So I myself hold altcoins for long term such as ETH, LTC, BCH, Dash, BNB, XLM and XRP. I waited for a moment like the price on 2017.

After year and year top coin list is always change. You can't hold one coin for long term without top 2-3 coins. Your list will be changing after few years. Even you will change your mind if you saw a pump of a coin like Binance exchange coin this year.

[letyouearn]

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.

Well, I would argue with this:

3.HODL Only Altcoins With Real Use Case

This is not always necessary in my opinion. But it depends on how you define this use case of course. Some big guys use DOGE for playing with hamsters. Is this a good use case?

[jessyj48]

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.

Well, I would argue with this:

3.HODL Only Altcoins With Real Use Case

This is not always necessary in my opinion. But it depends on how you define this use case of course. Some big guys use DOGE for playing with hamsters. Is this a good use case?

DOGE coin has no real use case to me, wonder how it became so good since last bullrun but i guess that is because of the love from community, apart from its fast transaction speed and very low sending fee it has no use case

[Jocuserious]

Yes not all altcoins good for long time holding Because the project development is not very effective and they are not fast, there is no demand for their project in the crypto market then by holding there you will not get any profit. So you have to participate in some projects where development is more important and they are worth a lot of investment.

[EvgeniyLEV]

Altcoins a large number. And many projects have not been developed for one year. There are a lot of such Altcoins. Before buying altcoins and holding them for a long time, you need to understand the project team and its further development. If altcoin is promising, you can hold it. Now the cryptocurrency market is not developing stably. Be careful when investing in altcoins. My opinion is that the future lies with Bitcoin.

[freedomgo]

Yes not all altcoins good for long time holding Because the project development is not very effective and they are not fast, there is no demand for their project in the crypto market then by holding there you will not get any profit. So you have to participate in some projects where development is more important and they are worth a lot of investment.

Therefore we need to be careful in choosing the altcoins that we hold for long term.

just always check the history and its trend, IMO, now less than 10% of the total altcoins in the market are good, legit and will potentially succeed in the future and those are the coins that has survive during the a long bear market until now, you can find them easily by looking at their trading volume and the site they are currently trading, try to check BNB, its one of the assets that I hold for long term, and ETH as well.

You can make your own choice as I only mentioned 2 of the 10% legit coins in the market.

[acsalles]

In 2020 will be a year of development of the cryptocurrency market. I believe that aiming for a potential altcoin will help you to make a big profit when the market explodes.

[TheClownSong]

Altcoins a large number. And many projects have not been developed for one year. There are a lot of such Altcoins. Before buying altcoins and holding them for a long time, you need to understand the project team and its further development. If altcoin is promising, you can hold it. Now the cryptocurrency market is not developing stably. Be careful when investing in altcoins. My opinion is that the future lies with Bitcoin.

Agree, to hold Altcoin in the long run, we must understand about the project. There are many types of altcoin on the market and there are more than 3000 altcoins so in my opinion research is needed so that we are not stuck investing in bad altcoin. I agree that for long-term investment, Bitcoin is still a trusted asset

[biddicoin]

<snip>

Well, I would argue with this:

3.HODL Only Altcoins With Real Use Case

This is not always necessary in my opinion. But it depends on how you define this use case of course. Some big guys use DOGE for playing with hamsters. Is this a good use case?

well, we have to look at the most case. dont look at crypto as individual.
The fact, most coin, which can get up, is the coin which have use case
So, it is reasonable if the OP said like that

beside that, doge coin is pure pump and dump coin which just suitable for short term
OP tells about coin which is good for long term

[Kersh768]

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 am totally agree with you because the same thing that I apply into myself whenever I am holding my crypto coins when I am certainly do not in need to use them or stocking them for good. The first one you have mentioned, I always certainly do to seek for another source of income because I never treat crypto as my main source of income and I know that I cannot always expect to have gain an income from it. Same thing applies to numbers 2 and 3 which I certainly sort out my alts into those that I can already give out and those that are good for holding into a longer period of time. The number 4 you have stated is the most important thing to do since we are into a volatile market in which every moment price changes, we must keep ourselves updated always for new informations regarding the price movement in the market.

[pcfli]

The powerful investors have alternative choices and they can sell the investment in a loss if they don't like something in the market conditions. The long term HODL-ers never care about the short term price movements, you need to be patient and strong. In case of loss, you have no leveraged trades, so it will be easy to sell the trades in a breakeven.

[Google+]

The powerful investors have alternative choices and they can sell the investment in a loss if they don't like something in the market conditions. The long term HODL-ers never care about the short term price movements, you need to be patient and strong. In case of loss, you have no leveraged trades, so it will be easy to sell the trades in a breakeven.

indeed when you do long-term trading will only be tested with your patience, but I am sure with this method the benefits that you can get will be very much, so to be able to make you forget a little about your assets in cryptocurrency you can try to find busyness that can make You don't always see the market.

[zhengqi]

Altcoin season already looks like something unreal. Therefore, to hold coins with the idea that it will suddenly be able to grow is unreasonable. Coins are worth selling immediately when they show a good price.

[RussiaUkraineTranslation]

Consider hodling some exchange tokens like BNB and ecxx. When the next bull market comes, traders will flock to exchanges and the price of exchange tokens will rise.

[Barbut]

The powerful investors have alternative choices and they can sell the investment in a loss if they don't like something in the market conditions. The long term HODL-ers never care about the short term price movements, you need to be patient and strong. In case of loss, you have no leveraged trades, so it will be easy to sell the trades in a breakeven.

Patient and strong! Volatility is constant in the crypto market, the price moves in both directions without any announcements. Short term traders earn from volatility, some traders lose, it's a risky way to make a profit. Over the time price rising. We can compare prices from five or more years ago and we will notice a significant rise. Who plans to hold for five or more years should invest and just forget about that investment, lock it in a safe wallet and put it away. Don't pay attention to price movement, it will grow and it will drop, but in the long term, we will have more bull runs and price in future will be higher than it's now.

[bohr]

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.

Well, I would argue with this:

3.HODL Only Altcoins With Real Use Case

This is not always necessary in my opinion. But it depends on how you define this use case of course. Some big guys use DOGE for playing with hamsters. Is this a good use case?

I will probably argue against the concept of holding altcoins for the long term, altcoins are there to speculate with them and nothing more, you should not hold them and at the first sign that may indicate that you are about to lose money then you should get rid of them, you do not want the same to happen to you that happened to all of those people that invested in altcoins at the end of the year of 2017 and then lose everything that you have just because you were too stubborn to sell your coins.

[Russlenat]

Altcoin season already looks like something unreal. Therefore, to hold coins with the idea that it will suddenly be able to grow is unreasonable. Coins are worth selling immediately when they show a good price.

That's a wise mentality if you can make good profit in a short period of time, however, some people who are investing are hoping for great return, bigger than it's almost unrealistic so they would hold. We can say that the current situation looks really bad and we can't expect a sudden change from the current price since the market has not showed some kind of stability, still the volatility is high and there's a sudden pump and dump happening from time to time.