Don't Just HODL But HODL Wisely and Securely

[Adbitco]

This words has been so organized or romanced were people do not even know when and where or time to hold and hodl. This word has been so commonly known and used in our mouths today whereby we blindingly falls into prey and this mostly happen to the newbies who does not know their ways about here but has been so confident with those words from people over here which they thought are so easily to maintain. Security of our funds is what gives strength to our holding ( hodl) but when beginners fails to secure their wallets properly they easily got scammed or hacked so the first journey of any one holding or HODL comes from getting a better wallet, this can only assure your holdings and safety of your funds.

[Zlantann]

It doesn't matter if you are a hodler or not, but you have to secure your funds the right way. Even if we are not hodling, we must hold our wallet for a short period of time. Most people just leave on exchange, which is the most dangerous attempt in the crypto world lately. That's how a lot of people lose their funds. So we have to make sure our funds are secure. At this point, it's very important what wallet you have been using and how secure it is. We need to spend more time researching how to secure your Bitcoin so we can handle it wisely.

After acquiring the basic knowledge about Bitcoin, the next important lesson should be how to access trustworthy wallets and how to secure the wallets from attack. Lack of security knowledge is like buying a gold bar and dropping it in a market square. Most people who call Bitcoin a scam lost their money due to a lack of knowledge of how to secure their funds. Some people don't even know the difference between custodian and non-custodian wallets because they don't want to learn. It is better not to invest in anything you don't have a means or knowledge of protecting.

[Aikidoka]

Holding Bitcoin is really beneficial and the term 'HODL' is incredibly famous within this community. I'm pretty sure that many people have been holding their Bitcoin for a long time with some even holding it for more than 7-8 years which is truly impressive. These people undoubtedly has a lot of money in their wallets.

The most important aspect here is how wisely you manage the security of your Bitcoin holdings. I heard that this year, a lot of people who were holding Bitcoin fall victim to hacking due to their recklessness and foolish behaviors . Using an air-gapped device to store your Bitcoin is so important and If you choose not to do that you should consider using a hard wallet.

[Frankolala]

One of the most powerful words that resonates strongly among bitcoiners is the word "HODL". This word describes our undying faith in bitcoin's past, present and future potential. In the bitcoin community, there are those who have been holding for a long-term and also those who have just started hodling because they are moved by the fast approaching halving event in 2024. As we are holding bitcoin we should be vigilant because hackers and scammers tirelessly seek opportunities and loopholes to steal your bitcoin. Therefore, it is not enough to hold but HODL WISELY.

Investing in bitcoin is easy but knowing right wallet to use becomes a problem to newbies. It is good to keep your funds safe in a noncustodial wallet, this is why the knowledge is needed before investing, so that you don't end up making silly mistakes that will jeopardize with your bitcoin investment.

Some newbies feels that exchange is more secured that a noncustodial wallet because they think that the exchange knows the best way to keep their coins safe than they can do. I was discussing with a friend this evening that has bitcoin but he doesn't have the deep knowledge on it, which part of what he doesn't know is the best wallet for safety. He told me that he prefers to leave his coins in Binance because, they wouldn't release his coins to anyone without his authentication on his phone. That is there is any illegal activity his account will be locked compared to when he is in self-custody of his bitcoin. I had to explain to him that Binance is also vulnerable to attack just the way if he doesn't secure his wallet and that Binance can even deprive him of his funds. Immediately i directed him how to create an electrum wallet, which he did and transferred his bitcoin into his electrum wallet.

[AprilioMP]

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There are more than one thousand ways to HODL bitcoin. In fact, as of 2022 there were about 2,790 Bitcoin-related applications are available on the Google Play Store while Apple Store had about 651 such apps. To add to this there are 288 hardware wallets and 44 bearer tokens in circulation, all of there telling you that they are able to secure your bitcoin holdings
✂️

Everyone says it will provide us with security if we use their wallet to store bitcoins. In fact, there are wallets available on Android that are willing to make the change from open source to closed source. They say open source wallets have dishonest developers and need to change to closed source to stay true to their primary goal of protecting users.

Wallet security became my main concern shortly before I became active in this world. Thousands of applications that offer a mission for user security as long as they do not meet the requirements as a wallet that is recognized by their users, I will not trust them to hold bitcoin. Includes closed source wallets.

[Pokapoka124]

Anyone who understands the phrase “ Not your keys, Not your coins” will have no trouble choosing the right wallets and method of storing their seed phrase. The phrase “ Not your keys, Not your coins” instills the philosophy to bitcoiners that custodial wallets are risky and should not be used for hodling. Even with all this information, some people still prefer to leave bitcoins in their local exchanges, they do not realize the implications of trusting a third party with their bitcoins.

[sunsilk]

While there are those wallets/apps that people need on Google Playstore. It's also the # 1 source of those phishing apps and other hacking apps where many newbies have been misled.

But, thank you for the reminder. It's true that it's not just all about holding but also being wise. There are holders that aren't wise and they're holding their assets through an exchange which is a bad idea.

Instead of holding it through the wallet that they have full custody, they don't.

[Lanatsa]

What sucks is that if most beginners just download a bitcoin wallet off Google PlayStore/Apple AppStore, chances are, they'd land upon an exchange wallet or a custodial wallet. The way bitcoin/crypto is now, you need to learn by mistake first lol before actually ending up diving deeper.

https://chainsec.io/checklist

And on the time that you had already lost your coins or had been locked up or scammed then this is the only time that you would really be making some in-depth review which they should have done it earlier or a must

thing that they had done initially and not on after effects.Its true that it is really that too easy to say about HODL but newbies would really be normally be leading themselves into those very known app stores and
just simply type "Bitcoin wallet" but doesnt know if its a custodial wallet or not. This is the importance of self research or study on which trying out to do on the things that must be done specially this is talking about the safety of our money or coins because you cant really just make yourself that make out that choice without having  those considerations.

Always be skeptical about into those places that not been known on.In speaking about non-custodial and open source then i would just simply trust "ELECTRUM" in the end of the day
if we arent speaking about hardware wallets.Even into these kind of storages i dont really have that trust.

[AmoreJaz]

While there are those wallets/apps that people need on Google Playstore. It's also the # 1 source of those phishing apps and other hacking apps where many newbies have been misled.

But, thank you for the reminder. It's true that it's not just all about holding but also being wise. There are holders that aren't wise and they're holding their assets through an exchange which is a bad idea.

Instead of holding it through the wallet that they have full custody, they don't.

it is always best to store your coins in your wallet, where you have your own keys. you will have total control on this regard. but if you decide to send it to any third party app, then, you can't say that's your funds. because anything can happen and the possibility of not getting a hold of your funds is always there.

[Natalim]

Hold and just use the right wallet where to put our crypto. Many people have fallen into the wrong wallet due to the number of crypto wallets that can be found on the internet and it is really confusing which one is legit and can be trusted.
Yes, hold wisely and don't rush doing this instead, spend time doing research just to make sure that we are using the right wallet where to store our coins, or else, we're just throwing it away to these scammers. Avoid learning from making mistakes first...

[Captain Corporate]

Honestly, I do not really hold securely, but do not risk it way too much neither. My money is in mostly at binance account and I do not move it from there too much. I do not have much neither, even if I get hacked, I would not become poor overnight, I am not rich enough to have a lot of money anyway. So when it becomes not a big deal to hold bitcoin like that, it becomes not an issue and should be considered as normal as it gets without any issues at all. I do understand that it may not be all that much of an issue at any given moment, but I do believe that we are going to end up with something that would not make sense at all if I buy some hardware wallet with such small amount of money.

[BitDane]

It very essential to know how to secure our wallet especially when we are hodling.  We must use wallets that are not compromised and wallet apps that is verified secured.  We should not just blindly choose a wallet  from any site without checking their validity.

While there are those wallets/apps that people need on Google Playstore. It's also the # 1 source of those phishing apps and other hacking apps where many newbies have been misled.

But, thank you for the reminder. It's true that it's not just all about holding but also being wise. There are holders that aren't wise and they're holding their assets through an exchange which is a bad idea.

Instead of holding it through the wallet that they have full custody, they don't.

it is always best to store your coins in your wallet, where you have your own keys. you will have total control on this regard. but if you decide to send it to any third party app, then, you can't say that's your funds. because anything can happen and the possibility of not getting a hold of your funds is always there.

That should be the case since keeping our coins in exchanges can face uncertainty since we do not have the full access or the key of the address where our coins is being held.  Verifying the apps to use whether it is safe for use should be the first thing to prioritized before using them to keep our coins.

[GeorgeJohn]

You said their is different ways of making holding your bitcoin, but from my own perspective is been done in way than holding a coin, so I believe that bitcoin have it's way, someone that don't want hold bitcoin will not hold bitcoin it doesn't have any target, while most of people who buy bitcoin purchased bitcoin is because they want appreciate or increase of bitcoin to make profit, and secondly, some of the people who invest in bitcoin for long-term have a target and some of people who quickly sell out of their bitcoin doesn't have target of investment in cryptocurrency especially bitcoin and some who use their main money to invest always been conscious of their investment, so therefore it's advisable to use your spare money for bitcoin investment.

[Japinat]

Hodling is one way to make you profitable in the crypto market. But you should only hold only those coins with high potentials, and bitcoin is a perfect example. Acquire knowledge about bitcoin and understand how it can make you profitable before you decide to buy and hold. And once you have bitcoin, make sure to secure your wallet away from those hackers waiting to attack. Keep your own privacy and never let others know that you are into bitcoin investment so that they won’t be eyeing on you.

[DaNNy001]

What sucks is that if most beginners just download a bitcoin wallet off Google PlayStore/Apple AppStore, chances are, they'd land upon an exchange wallet or a custodial wallet. The way bitcoin/crypto is now, you need to learn by mistake first lol before actually ending up diving deeper.

https://chainsec.io/checklist

But funny enough as you said but it's still actually the truth because most of these beginner actually just rush or move faster than self maybe due to how they feel owning and holding Bitcoin can be easy through different way they have come across Bitcoin itself. I am saying this because I actually had a friend who never really wanted to learn but he just thought how beneficial it can be and actually made a deposit and started with his crypto journey in an custodial limited wallet he downloaded through the internet.

[Y3shot]

Just hodling Bitcoin is not a guarantee that your bitcoin is safe but being knowledgeable will help to keep bitcoin safe. One who lacks understanding about how scammers operates can easily for into the hands of scamners,  all what has been in the wallet for long time can just go in vain. Their is no need hodling when one lacks understanding how bitcoin should be invested in a secure way.  Securing hodling will yield to having a positive result in every hodling.

[Afnan_faizah]

fortunately now government of my country also supervise some of cryptocurrency related app so I feel more secure. but I will not only hold it, when there is bullish market trend happen I will sell it so I can get profit and then buy it again when bearish trend come.

[Davidvictorson]

Wow, I didn't know that there are this much Bitcoin apps on Google Play store. The way I have come to think about it is that, anyone who is not part of a crypto community would be lost on which of these apps to follow and invest in. Personally there should be more tools to check the legality of any Bitcoin wallet. However, to save you stress, the thing I do is just use the one that is most popular and the one that most other persons have confirmed that works perfectly fine and use it

[Fuso.hp]

Fraudsters have thoughts on how to cheat others and by cheating how to steal valuable coins including BTC. If a hacker or fraudster can hack our account without any account information then why can't we make our account more secure even if we have access to the account. 
First of all we have to get rid of the thought that we have to invest very quickly, there is no need to be in such a rush when it comes to investing. The first thing an investor should think about is how to secure his wallet. When the wallet is secure, a user can safely hold his investment as he wishes. But when your wallet is not secure, no matter how much BTC we invest, it will be seen that investment fraudsters have cheated us. 
So try to outsmart the scammers and think how to keep your BTC or other coins safe from them.

[n00ber]

What sucks is that if most beginners just download a bitcoin wallet off Google PlayStore/Apple AppStore, chances are, they'd land upon an exchange wallet or a custodial wallet. The way bitcoin/crypto is now, you need to learn by mistake first lol before actually ending up diving deeper.

https://chainsec.io/checklist

I hope that whaat you're saying doesn't become a frequent thing to happen to beginners because knowing that there's a lot of people that will quit if they made a mistake the 1st try serves nothing to the adoption of bitcoin. Although I do agree that allowing yourself to make mistake is a good thing if you want to learn, I still think that having that as your first experience in your first step wouldn't be good.

Exchange wallets or custodial wallets are not a big deal as long as they are official wallets because over time, as they move deeper into the market, they will find better knowledge about wallet security and wallet. They will switch when they learn about the difference between custodial wallets and non-custodial wallets. What's more scary is that they use fake wallets that are still on playstore and will lose their money at the first time, which will make them shocked and have negative thoughts about this cryptocurrency industry.