How to prepare for long term HODL

[tartibaya]

You need to do good work to make long-term plans. The price of Bitcoin sometimes rises so much that it makes more sense to expect to sell. Because sometimes the price falls a lot and in this case people panic. And for those who are in a difficult situation like me, this is almost impossible. I always have to make a profit. Because I have to withdraw all the time.

[leatutz]

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 have nothing to say in it, this is the perfect ways to hold your altcoin in my vision. To hold coin for long time, either you should have another source of income or have to regular bounty hunting or trading. Some lazy investor don't interest to swap in new coin.

[aamirsuh]

Most importantly, item 1. Do you want to make money from these markets? You must have another source of income. Do you have to constantly withdraw money from this market? Then you can't do hodl. Unfortunately, these are the realities of the market.

[nanaimogold]

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 my first time of coming across this post and I think it's spot on. On the first point which says a holder must have another source of income is very accurate because a broke man or hungry person can't really hold because he will always sell too quick. Also, if you must hold altcoins, you must be updated OK every happenings on the altcoins because of the frequent swaps that usually happen nowadays. Else you may loose your coin

[RussiaUkraineTranslation]

If you invest in exchange tokens like ecxx and bnb, you should be safe even in a bear market.

[inanilujimi]

The hardest thing is keeping patience, I've been HODL on one for 2 years and my patience is thinning.

If when you enter the ATH price even for the next 5 years, not necessarily your portfolio can get results.
Patience alone is not enough skills and luck is also needed in order to achieve tangible benefits.

[ije07]

as you have explained above, I agree with the three points you said above. especially with fixed income sources and renewing your crypto investments. I mean, the market doesn't always guarantee profits for you every day, at least you have a steady income in the real world. to prepare for the long term.
Updating each crypto asset is indeed very important, because the price of crypto is very volatile and it is important for you to always update your crypto so that you don't lose the opportunity to sell.

[totoy4741]

I am not buying to this HODL long term anymore. Especially for Altcoins, I might consider hodling those coins that already have made their name but for new coins. I would try consider buying them but sell it when its peak and jump ship to another coins to earn another possible profits.

[crisanto01]

I am not buying to this HODL long term anymore. Especially for Altcoins, I might consider hodling those coins that already have made their name but for new coins. I would try consider buying them but sell it when its peak and jump ship to another coins to earn another possible profits.

Still look for something that is worth to hold, there are coins/altcoins that dumped too but they are still continuing to develop, they don't just want to have a pump and dump scheme which is for most scam projects are doing, so avoid those kind of scenario as they are just manipulating the minds of people but in the end they will for sure dump it.

[Vishnu.Reang]

I am not buying to this HODL long term anymore. Especially for Altcoins, I might consider hodling those coins that already have made their name but for new coins. I would try consider buying them but sell it when its peak and jump ship to another coins to earn another possible profits.

Well.. I would second that opinion. Fortunately for me, I sold 80% of the altcoins in my wallet during 2018. Back then, I was feeling nervous in doing so. Because a lot of guys here were predicting that the alts would recover their value in 2019. But that never happened and some of them even became completely worthless. Now my only regret is that I didn't sold the remaining 20% of the coins back in 2018.

[Visbay]

The hardest thing is keeping patience, I've been HODL on one for 2 years and my patience is thinning.

If when you enter the ATH price even for the next 5 years, not necessarily your portfolio can get results.
Patience alone is not enough skills and luck is also needed in order to achieve tangible benefits.

Yeah having profitable coins in your portfolio is the most important thing. We should invest at low price coins but with high potential. Gradually coins will increase in price and it will give income. After investing we can hold our coin to wait for our luck but until our luck shines we must have some patience to hold but don’t sell it until it grows to make money for you.

[Bitcoinislife09]

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 agree with your tips, but for me, i will just stick on bitcoin since it is the best digital currency and the most popular.
Surely for long term investment as technology rises the bitcoin will surely increase its market price in the future as it is implemented in a lot of people the more demand and the lower its supply the price of bitcoin is surely increasing. It should be a good investment as the community is getting bigger.

[rmhuntley]

I agree not all altcoins for long-term hold. If I myself chose altcoins for long-term hold are like ETH, LTC, Dash, BNB, XLM, XRP and BCH. Because the altcoins are already proven active and ever in 10 top coinmarketcap.

[Kupid002]

I agree not all altcoins for long-term hold. If I myself chose altcoins for long-term hold are like ETH, LTC, Dash, BNB, XLM, XRP and BCH. Because the altcoins are already proven active and ever in 10 top coinmarketcap.

if you also check the ATH price and compare of what pricr right now you will think twice before buying.  I mean that much lost will give you idea how risky it is to invest in any of it. Even one of the top 10 crypto.

[crossabdd]

good job man, I only use points one and three. because I don't want to panic too much. I only buy Bitcoin then withdraw my bitcoin and leave the market without updating price updates. because if I see that. I have a big panic. for fishing, I use the first point. ie make another income. I am a farmer. so don't think too much about market conditions. I only believe my crypto assets will support me in the future.

[Onuohakk]

Preparing for long term hodl is never seems easy. You've to get pretty occupied with stuffs that won't make you to question your patience of the altcoin you have. Hodling token that has no value do cause alot of heart breaks. So get occupied with work and don't hope on crypto

[Magkirap]

I am not buying to this HODL long term anymore. Especially for Altcoins, I might consider hodling those coins that already have made their name but for new coins. I would try consider buying them but sell it when its peak and jump ship to another coins to earn another possible profits.

Well you should really not plan on long term holding a new coin because it is way too risky specially when you really have zero knowledge about that coin but if you do follow that coin and its team before and after its release then you should have enough thoughts whether you will hold or not. Holding is fine its just you need to do those points that the OP gave us and when holding you should have lots of back up plan reserve incase something happens like when the coin doesnt seem to show some hope in increasing.

[Cacingkemi]

to be a good long-term holder, maybe we should be able to forget for a moment the investment we made in crypto or the type of potential coins we have by looking for other activities, especially activities that can make money. maybe this method is one of the effective methods to do, so that the investment we make can be a surprise later, even more so if the coins we hold can increase sharply in the future

[poodle63]

Preparing for long term hodl is never seems easy. You've to get pretty occupied with stuffs that won't make you to question your patience of the altcoin you have. Hodling token that has no value do cause alot of heart breaks. So get occupied with work and don't hope on crypto

it's so easy when you are only putting all of your money to the major crypto but the difficult thing is about how you can search the potential investment and this is what already searched by so many people these days. it's not an easy task when you are expecting a huge gains in long term holders. Patience doesn't matter a lot.

[aioc]

Preparation for long term hodl usually takes time and big funds you must have a decent income so you can allocate funds for coins that you are going to Hodl long term, in my case I allocate some of my earnings coming from bounty to buy coin that will likley pump high in the future.