How to prepare for long term HODL

[Romeotom]

Stay holding because if you haven't other skills like trading mining, if you want long time holding then no need worry next news because this time more cheap price every coins. So do like best coin and take hold long-time hopefully you will makes good profitable.

[Ronyx]

I like point 1, that for long-term hold, of course we need to have another income to meet the needs, and if we don't have income and are cornered by the need, of course we will think of selling.

[kaneki007]

In my opinion, if you want to hold for long term, you need to have a clear goal and a stable mentality. The current market is not stable and the price may collapse anytime soon, and you need to be mentally stable so as not to panic sell during this period.

It is very heavy if you want a long-term investment because the risk of price drops suddenly can happen at any time, and also do not be too greedy maybe if it is enough (within 2-3 years) to get a large profit then it is better to sell immediately. And also maybe FUD is very influential in this regard, it's better to avoid it and believe if the invested project will bring profit.

[tvplus006]

Holding a coin for a long time to get a profit is much easier than trading. Trading takes a very long time, and in addition can lead to nervous breakdowns. But in order to hold the coin for a long time, you will need another source of income that will allow you to address your weekly needs.

[pixie85]

some good suggestions mentioned here i think in case of wallets and especially if you are looking to hodl for long term then paper based wallets are good choice. Also always keep a backup at a separate location and try to password protect or encrypt the storage where you save your wallets.

You can make those so called paper wallets by engraving steel plates which makes them almost indestructible. I wouldn't go that far though.

There are far easier and still very safe ways to store your coins like using 2 different offline hard drives or a hardware wallet and an sd card. Chances that both of them get destroyed at the same time are pretty low.

The most important in my opinion is your mindset.

[MUG1WARA]

I totally agree with all the statements you made and for number 2 I just add that everyone is more careful in choosing altcoin because most altcoins only have crap which will then die in the future

[Teinkle]

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

What you're saying is true, the best coin to hold at the moment are those coin with real use cases and with big supportive community, i invested in one of the best blockchain project in space the https://ilcoincrypto.com/ which i can say is one of the best altcoin to hold for long.

[Starfranko]

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

[Russlenat]

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration.

You are correct because I have experience this kind of scenario where I was left behind on the update and I lose the value of my token as there was a deadline, so I learn a lesson from that on not holding a lot of coins/tokens.

If you want a long term hodl, hold few tokens you can always monitor their development progress.

I do hold major coins like Bitcoin, ETH, and BNB because these are the coins I believe will dominate in the future.
And it's easy to update on these three as they are popular, lots of article will show when there is a changes or an update.

[SacriFries11]

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

It's very important to select the right altcoins to hold for long term in the market and not all can survive for huge drop of bitcoin. It's difficult to hold altcoins for long term and sometimes it will test you if you're going to sell it or not so in order to support and not be able to sell you're coins, you need a consistent income to support it. I'm holding altcoins that are platform connected or have a crypto exchange, I believe that it will be safer to hold rather than other platform in the market.

[Eplus_Team]

You have a good point . All we know that long term hold is risky so we should be knowledgable and think well the kinds of coin that we will hold because there are lot of coins that are easy to die so be carefull. We need also an extra income because our coin or capital will be like an sleeping giant it will be like your time deposit that you want for the right time to encash. And the most important thing is to be updated because all we know that the crypto price is move quickly so we need to monitor it to know when to sell your coin.

[bussybuddy]

In my opinion, we should choose the best altcoins in this market for long-term investment. It is the most important job in investing, and if you choose the bullshit projects to invest, I believe you will quickly lose and collapse in this market.

[maruf01788]

I agree with you. Research and patience is must needed for hold or investment. All of Alts coin are not perfect for long term holding.so need deep research where investor/holder wants to invest /hold his Money.

[Spaffin]

I agree with you. Research and patience is must needed for hold or investment. All of Alts coin are not perfect for long term holding.so need deep research where investor/holder wants to invest /hold his Money.

In any case, you need to adjust your portfolio based on the results of a cryptocurrency market research.  But it is best to invest in those cryptocurrencies that do not raise doubts about their future prospects.  Undoubtedly, Bitcoin and Ethereum are leaders among the most sought-after assets for investments, But if you make a choice in favor of other altcoin, then I would prefer to choose only those coins in which societies will be interested and which will be really used by certain companies, resources and people.  One way or another, the strategy for the long-term storage of their assets applies to all cryptocurrencies.

[Lucifer1010]

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

Agree.. especially if you want to hold altcoin from new project do not miss any update from the project. But, i suggest hold only major altcoin. i'm holding only from top 25 in CoinmarketCap.

[Divinespark]

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

Agree.. especially if you want to hold altcoin from new project do not miss any update from the project. But, i suggest hold only major altcoin. i'm holding only from top 25 in CoinmarketCap.

Only long-term investments should be made for the top altcoins in this market. If you hold a new altcoin in this market, it is suicide. A lot of altcoins have collapsed in this market and I know a lot of people are losing money trying to invest in them. The price of those altcoins has dropped 50-100 times in just a few months or a year, it's really scary to invest in new altcoins.

[Kong Hey Pakboy]

Staying updated always is the main hodl strategy. Many projects have migrated to its own blockchain of recent and some persons have been left behind during these migration. If you want a long term hodl, hold few tokens you can always monitor their development progress.

Agree.. especially if you want to hold altcoin from new project do not miss any update from the project. But, i suggest hold only major altcoin. i'm holding only from top 25 in CoinmarketCap.

Hodling a new project will be difficult because even you are updated or you don't miss any updates from the project, you are still not sure if the coin that you are holding will have a good value in the future or it is legitimate, that is why if you want to hold a good altcoin you better choose from top altcoins because for sure it has a potential to have a good value in the future.

[SyndicateLabs]

I agree with you. Research and patience is must needed for hold or investment. All of Alts coin are not perfect for long term holding.so need deep research where investor/holder wants to invest /hold his Money.

Depending on the types of altcoins we hold. If we hold altcoins in the top 10 coinmarketcap, I think we do not need to worry too much, in the long run its price will certainly go up because these are the leading altcoins in this market. But if we hold altcoins outside of the top 10, I'm not sure what their future is because in the past 2 years I've seen so many bullshit altcoins die and become a scam.

[lancelot18cryp26]

Hold all the coins with a good product and a trusted team. Their time will come...

[casperBGD]

Hold all the coins with a good product and a trusted team. Their time will come...

agree, first thing is usability, since it is needed for a project to solve one or two issues that are bothering people to be successful, but also project need to have good team, that will do development and find investors, for all that good plan is essential and that plan and roadmap shall be followed as much as possible, for a project to be successful, if the development is slow, then other projects will push that one in background with faster development