How to prepare for long term HODL

[kodtycoon]

We should ask our self, are we really ready to hold for long term? Are we aware of the consequence of holding in long run, do we have enough fund for some of our expenses. Be ready emotionally and of course financially and remember that long term doesn't mean, months, it is a year or more, so we must really be careful and know what we are doing.

we really have to prepare ourselves when doing a hold and also have to do strong research so that when doing a hold we have a strong reason to do it. the most important thing is our emotional will be tested when the price drops when holding

therefore understanding and knowledge will be very important to do long term hold, not solely about emotions to succeed in doing this, because when we are well aware of what will happen of course with the knowledge possessed of course it will be very helpful for emotions itself

[imutlinda]

that being said, at least you can finance your monthly needs so that you don't have a burden, and can last for a long time.
most people use their funds to invest but do not yet have sufficient needs.
finally sell their assets both in a state of loss / profit.
it is better to save for your needs first, I know investment is important but cannot be forced.

because of monthly needs that make us feel uneasy when holding, therefore we must use money that is completely free of monthly needs and it's good if we get monthly income so that hold can be carried out according to plan

[BRODIN]

well, from some of the points you said are pretty good and I agree. some of these points are good preparation before investing in the long run. I really like the 4th point, where there is about updating the portfolio. This is highly recommended for crypto investors, to always update your portfolio because not all coins that you invest always last a long time, only coins that have further price development, well-functioning products that are worth to investing.

[govorrue]

Much here, from my point of view, depends on strategy. But as for me, the main point is in finding solutions that are having bright prospects and clear vision. Of course, all must start with practical value for users

[volport]

Much here, from my point of view, depends on strategy. But as for me, the main point is in finding solutions that are having bright prospects and clear vision. Of course, all must start with practical value for users

You are absolutely correct, at least I am having similar thoughts. Anyway, it is not very simple to find solutions with strong tech side, innovative one, with value for users and more. Or you wanna say that you have many such?

[govorrue]

You are absolutely correct, at least I am having similar thoughts. Anyway, it is not very simple to find solutions with strong tech side, innovative one, with value for users and more. Or you wanna say that you have many such?

Nooope, not many. I am having only 3 most advanced platforms I do find attractive and follow. But the most interesting one for me these days is Sapien Network? Have you heard of the guys already? They are very widely discussed these days and offering entirely new opportunities for everyone

[volport]

Nooope, not many. I am having only 3 most advanced platforms I do find attractive and follow. But the most interesting one for me these days is Sapien Network? Have you heard of the guys already? They are very widely discussed these days and offering entirely new opportunities for everyone

Hmm, sounds very familiar, but cannot remember for sure... Isn't it a social network? Can you please provide more details?

[govorrue]

Hmm, sounds very familiar, but cannot remember for sure... Isn't it a social network? Can you please provide more details?

Yeah, of course! Centralized platforms like Google and Facebook are known to take advantage of the data and information that they gather from users of their platforms. And Sapien is coming onto the market with completely different approach - user oriented one. As a social media platform, it encourages free speech and the creation and sharing of high-quality content while discouraging fake news in the process. But of course, I recommend you to have a look at their website to have a deeper understanding, cause pretty sure that you will be impressed

[volport]

Yeah, of course! Centralized platforms like Google and Facebook are known to take advantage of the data and information that they gather from users of their platforms. And Sapien is coming onto the market with completely different approach - user oriented one. As a social media platform, it encourages free speech and the creation and sharing of high-quality content while discouraging fake news in the process. But of course, I recommend you to have a look at their website to have a deeper understanding, cause pretty sure that you will be impressed

Oh wow, so far sounds so good, will definitely explore more right now and get back with own thoughts! Thank you very much for your recommendation

[Mianae]

I think this listing should start from the last. The best way for long term hodl is staying updated a coin might upgrade its blockchain to own blockchain, it could be delisted from exchange, it could turn out to be a scam as well. The only way to boycott this is staying updated with information as regards such project.

[Vishnu.Reang]

I think this listing should start from the last. The best way for long term hodl is staying updated a coin might upgrade its blockchain to own blockchain, it could be delisted from exchange, it could turn out to be a scam as well. The only way to boycott this is staying updated with information as regards such project.

Boycotting is a stupid idea. There will always be noobs who are ready to invest in such coins and tokens. When I was new to cryptocurrency (early 2017), I was tricked in to investing in a few shitcoins. I suffered some losses, but that experience taught me some valuable lessons. Regarding your post, I would say that rather than pushing with boycotts and all, it will be better if we let market to decide the fate of a particular shitcoin.

[diazepam666]

It is so simple, you just need to have patience and go to invest on top and trustworthy cryptocurrencies which can grow portfolio you have in your wallet.
Other than that nithin you need on preparing long term hold.

[meliodas]

It is so simple, you just need to have patience and go to invest on top and trustworthy cryptocurrencies which can grow portfolio you have in your wallet.
Other than that nithin you need on preparing long term hold.

There is also one thing that you need to prepare if you are going to be on a long term hold for your cryptocurrencies and that is the wallet that you will be using to keep your cryptocurrencies. You should set a budget for buying a hardware wallet for your cryptocurrencies because without it, then your cryptocurrencies will be at risk from the cyber attacks. Invest in security.

[Saisher]

1. You must have another source of income

If you have other sources of income, you can buy coins that you want you to hodl and not just coming from bounty campaign and airdrops, the top coins are must coins to hodl right now, I don't believe in new coins, it will take time before we can their potential

[Tomcolor]

I think if i have extra income source then i can do long time investment with something fell free, because our money is very important. So all altcoins will not give you profits even you need extra income source then you can recover loss time.

[imutlinda]

I think if i have extra income source then i can do long time investment with something fell free, because our money is very important. So all altcoins will not give you profits even you need extra income source then you can recover loss time.

if we have income for each month then to hold it is not difficult enough, just focusing on the coins invested and training mentally to be stronger and focus when holding it becomes important. things that can make you unfocused in holding must be fulfilled so you can focus holding

[qiwoman2]

I will 100% agree with you, coins and hodling should be looked at as an investment. I now have a full time job, working with a blockchain and getmy salary paid to me in Bitcoin which at least means I have money to survive and plus some, then I look at growing my bags and doing extra Crypto work to build up my retirement portfolio and get back what I lost in the dump of early 2018, which I started to build from 0 anyway. Don't go into these so called crypto and bitcoin programs either, promising you a daily roi, and expect to live off that income, that is a big fail and that is something I want to add here also. Diversify also your portfolio, choose a few nice unicorns, that could 100 x and sit on them. Also if you can, do some trading, to grow your BTC stash and maybe store some USDT into NEXO, which gives you 8% annual APR interest as a hedge against the fluctuating prices of crypto. Look also for staking coins, or coins that have real use cases that give you a bonus or dividend. That could also grow int a nice income if you pick the right projects.

[sehoon]

Investing in cryptocurrency is pretty much a gamble. But with these tips, I think the risks can be lessened though. Your #3 tips are actually one of the most important thing for me. Whenever people get into the crypto space as beginners, they always think about the money and most of them do not appreciate the technology behind it. Whenever I join a bounty, success comes from their problem solving ways. And devs know what they are doing.

[princecharles]

The post is very informative, I like the last point which admonished us to be always up to date. This is one of the most salient requirement for maximum benefit in the cryptocurrency space. There's a popular saying that information is power. In this space, one needs to be available to take hold of opportunities. Due to the volatility and flexibility of the space, opportunities does not avail always.

[itos84]

Holding for the long term is only useful for projects with real utility. Do not invest blind and also a good tip would be to never invest when there is a quick bull rush that happens in a matter of minutes.

You will probably be holding a big bag of pumped coins for a long time.