Don't Just HODL But HODL Wisely and Securely

[terrific]

I didn't know that there have been hundreds of hardware wallets because with what I know, I thought that they're like just handful in numbers.
But yes, we've got a lot of ways to hold our Bitcoin but not all that are stored in the playstore should be downloaded because many of them are like traps.
Traps that are waiting for some negligent users that won't check the background of what they're downloading and sadly if they transfer and deposit their Bitcoin there, who knows if there's someone behind that app waiting for that prey.

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[Miles2006]

I love the word hodl wisely, most newbie like me fail to hodl wisely due to some reasons or I don't know sometimes for the love of quick money forgetting that bitcoin investment does not work like that. Most people get over excited about bitcoin investment and they end up falling into the hands of scammers. I don't know if this is common in crypto like in fiat, when an individual just create a new bank account they're high chance falling a victim to the hands of scammers so I don't know if this is also in crypto(bitcoin) because the number of victims who fall into the trap of scammers are just too much. Ever since I joined this forum, this forum has enlighten me more about bitcoin investment and tips to secure bitcoin hodling. Last two weeks I read how a lady got scammed and how it happened she also said she took the investment advert about bitcoin on Facebook, that's why I don't like following people advertising crypto online they're all scammers. Secondly I personally as a newbie starting my bitcoin journey I don't give attention to Unkown contact trying to talk about bitcoin investment.
https://www.hodlatm.com/scams

[Furious 7]

Yes safety first, depending on your trading activity i would recommend hardware wallets, if you are using a buy and hold strategy.

Actually in this case you should be able to change your mindset by equating trading and investment because in the end when you equate in terms of meaning then you can get a little lost in meaning so that you cannot distinguish whether it is trading or investment.
When we say hodl indirectly this will definitely refer to investment and I think it will be very naive if it is combined with the concept of trading because somehow this will be different.
Even though this is not too important for some people but I think it should be learned especially for beginners so that with that you can know what you should do and how to respond to a problem from hodl that must be done.

[Baki202]

I love the word hodl wisely, most newbie like me fail to hodl wisely due to some reasons or I don't know sometimes for the love of quick money forgetting that bitcoin investment does not work like that. Most people get over excited about bitcoin investment and they end up falling into the hands of scammers. I don't know if this is common in crypto like in fiat, when an individual just create a new bank account they're high chance falling a victim to the hands of scammers so I don't know if this is also in crypto(bitcoin) because the number of victims who fall into the trap of scammers are just too much. Ever since I joined this forum, this forum has enlighten me more about bitcoin investment and tips to secure bitcoin hodling. Last two weeks I read how a lady got scammed and how it happened she also said she took the investment advert about bitcoin on Facebook, that's why I don't like following people advertising crypto online they're all scammers. Secondly I personally as a newbie starting my bitcoin journey I don't give attention to Unkown contact trying to talk about bitcoin investment.
https://www.hodlatm.com/scams

HOLD is a term that's used a lot around here, and its meaning is fairly obvious. However, I believe that even those who don't end up holding do so for a variety of reasons, including information processing and information they heard about how others are making money. These individuals want to invest and start making money, but they are unaware that bitcoin operates differently in fact, it may take some time for a person to start making money from bitcoin, which is why it's sometimes referred to as a long-term investment. And the issue of people falling into the hands of scammers is very frequent and will continue because the only thing people are concerned about is how they will make money out of their investment.  Been in this forum has a lot of privileges for everyone especially the investors.

[Bushdark]

We need to keep holding whatever cryptocurrency we have in our portfolio so that we can make profits from the market when the bull trend comes. The market is still ranging and we can still be making little profits from the market for those of us that know how to trade since the bull market has not finally comes. There arf different ways we can profits from the market and depending on how we tend to make profits from the market, we need to relax and keep holding no matter how small or big our Cryptocurrency assets could be.

[Bitcoinpoly]

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.

https://www.talkimg.com/images/2023/09/19/6rtOP.png

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

Don't just hold but hodl wisely and securely.

This topic is inspired by the responses I received in this thread - How Do I Verify the Integrity of Open-Source Code.

Image source:

Seeing this makes me happy, I’m always telling my friends that you don’t just hodl an asset and forget about it, you need to be wise with your hodling, i have most of my assets on flexible savings of which I still make interest up to 7% on them on Bitget exchange with their shark fin product, by that I’m not just hodling but I’m still using it to make more profits.

[barisbilgili]

Yes safety first, depending on your trading activity i would recommend hardware wallets, if you are using a buy and hold strategy.

Actually in this case you should be able to change your mindset by equating trading and investment because in the end when you equate in terms of meaning then you can get a little lost in meaning so that you cannot distinguish whether it is trading or investment.
When we say hodl indirectly this will definitely refer to investment and I think it will be very naive if it is combined with the concept of trading because somehow this will be different.
Even though this is not too important for some people but I think it should be learned especially for beginners so that with that you can know what you should do and how to respond to a problem from hodl that must be done.

Before choosing to invest or trade, we must be able to distinguish between these two things so that we don't make a mistake in doing it, so it is very important for anyone who wants to start investing and also trading to understand them well so as not to make mistakes in doing so.
If they only have a little knowledge about this, it would be better for them to choose one of these two things so that they can easily do it because if they force themselves to combine trading and investing, they will certainly have difficulty doing it and there is a very high possibility of failure. in doing so, but in my opinion if we are just starting out, it would be better for us to choose to invest first and continue to seek knowledge about trading and investing.

[Rabata]

Yeah. Hodling is not a new word and especially here on the forum, users are advised to hodl and it will prove rewarding ( for those who plan to sell) when the next bull run season approaches. A necessary advice given by the Op which I think is quite important because there are still those who fall victims of hodling their Bitcoin on CEX which might be cool but not until the exchange gets closed down without prior information (exit scam) or even be victim to hacker attack.

To ensure you don't fall victim of stolen coins or missing funds, it's best to store your crypto in self custodial wallets, that way you are the only one with access to your funds and while it has its perks, it can be risky if you misplace your private keys you might as well be kissing your funds buh bye!

Many of us are enthusiastic about holding Bitcoin for the long term because Bitcoin can give an investor multiple returns over the long term. But if we don't have a good idea about where to hold the bitcoins then after a long period of time we may loss our all holdings . Many of us try to hold bitcoin in various exchange platforms which must be abandoned. Because at any time an exchange platform can be hacked. I saw last few days ago that an exchange called Poloniex admitted to being hacked. They have been suspending their users' withdrawal money for quite some time now. If an investor loses his money after putting in a lot of effort then this investment platform can definitely turn out to be a curse for him. So before investing you must give utmost importance to the wallet and its security.

[Assface16678]

Yeah. Hodling is not a new word and especially here on the forum, users are advised to hodl and it will prove rewarding ( for those who plan to sell) when the next bull run season approaches. A necessary advice given by the Op which I think is quite important because there are still those who fall victims of hodling their Bitcoin on CEX which might be cool but not until the exchange gets closed down without prior information (exit scam) or even be victim to hacker attack.

To ensure you don't fall victim of stolen coins or missing funds, it's best to store your crypto in self custodial wallets, that way you are the only one with access to your funds and while it has its perks, it can be risky if you misplace your private keys you might as well be kissing your funds buh bye!

Many of us are enthusiastic about holding Bitcoin for the long term because Bitcoin can give an investor multiple returns over the long term. But if we don't have a good idea about where to hold the bitcoins then after a long period of time we may loss our all holdings . Many of us try to hold bitcoin in various exchange platforms which must be abandoned. Because at any time an exchange platform can be hacked. I saw last few days ago that an exchange called Poloniex admitted to being hacked. They have been suspending their users' withdrawal money for quite some time now. If an investor loses his money after putting in a lot of effort then this investment platform can definitely turn out to be a curse for him. So before investing you must give utmost importance to the wallet and its security.

Truth be told, many new investors are just hyped by the thing "hodl" or hold, and there's nothing about that. You could just hold and store your assets in a secure wallet and let them grow long-term, but the thing is, you can't just buy and buy bitcoin or a fraction of bitcoin anytime you want; you need to know which time and moment it is good to buy bitcoin assets, so it still needs even basic knowledge about charting and analysis of the bitcoin market. I've known a few friends who decided to invest in bitcoin out of curiosity and immediately bought some of it, but the thing is, they don't analyse the market or the movement of bitcoin before purchasing, and in the end, they can't sell their bitcoin because the price goes down, resulting in locked assets as they will wait for the moment that their asset will turn green again.

[kingvirtus09]

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

These are correct, as you mentioned them in the link you provided. This can be considered basic information that newbies entering this bitcoin business should know. I hope newbies can read this because it's really a big help.

And the safest thing is to keep it as much as possible in a ledger, trezor, or hardware wallet so that there are no chances of hackers actually entering the assets we hold, whether it's bitcoin or cryptocurrency.

[Timbulance]

Then comes software wallets. I have done some research here on this forum and also in other places. Everything suggested me towards Electrum wallet. I have used it and it's quite good as it said in every review. But still, everything depends on how you use it. So DYOR and choose the best.

Electrum is great but I suggest you DYOR and try Sparrow sometime in the near future.

[bitzizzix]

Yes safety first, depending on your trading activity i would recommend hardware wallets, if you are using a buy and hold strategy.

Actually in this case you should be able to change your mindset by equating trading and investment because in the end when you equate in terms of meaning then you can get a little lost in meaning so that you cannot distinguish whether it is trading or investment.
When we say hodl indirectly this will definitely refer to investment and I think it will be very naive if it is combined with the concept of trading because somehow this will be different.
Even though this is not too important for some people but I think it should be learned especially for beginners so that with that you can know what you should do and how to respond to a problem from hodl that must be done.

Actually hodl applies in trading and investment and the only difference is the mindset, if trading means expecting profits only in a short time or a maximum of one year. And this will also use hodl even though it is already making a profit, perhaps planning to do hodl longer to get bigger profits.
And the use of hodl for investment, this applies to long-term investments which may be very long and take years and the goal is only to get maximum profits or reach a new ATH.

[Bitcoinpoly]

Yeah. Hodling is not a new word and especially here on the forum, users are advised to hodl and it will prove rewarding ( for those who plan to sell) when the next bull run season approaches. A necessary advice given by the Op which I think is quite important because there are still those who fall victims of hodling their Bitcoin on CEX which might be cool but not until the exchange gets closed down without prior information (exit scam) or even be victim to hacker attack.

To ensure you don't fall victim of stolen coins or missing funds, it's best to store your crypto in self custodial wallets, that way you are the only one with access to your funds and while it has its perks, it can be risky if you misplace your private keys you might as well be kissing your funds buh bye!

Many of us are enthusiastic about holding Bitcoin for the long term because Bitcoin can give an investor multiple returns over the long term. But if we don't have a good idea about where to hold the bitcoins then after a long period of time we may loss our all holdings . Many of us try to hold bitcoin in various exchange platforms which must be abandoned. Because at any time an exchange platform can be hacked. I saw last few days ago that an exchange called Poloniex admitted to being hacked. They have been suspending their users' withdrawal money for quite some time now. If an investor loses his money after putting in a lot of effort then this investment platform can definitely turn out to be a curse for him. So before investing you must give utmost importance to the wallet and its security.

Truth be told, many new investors are just hyped by the thing "hodl" or hold, and there's nothing about that. You could just hold and store your assets in a secure wallet and let them grow long-term, but the thing is, you can't just buy and buy bitcoin or a fraction of bitcoin anytime you want; you need to know which time and moment it is good to buy bitcoin assets, so it still needs even basic knowledge about charting and analysis of the bitcoin market. I've known a few friends who decided to invest in bitcoin out of curiosity and immediately bought some of it, but the thing is, they don't analyse the market or the movement of bitcoin before purchasing, and in the end, they can't sell their bitcoin because the price goes down, resulting in locked assets as they will wait for the moment that their asset will turn green again.

I’m sure this is where the word DYOR comes in, you shouldn’t buy at anytime you wish or just by people telling you to buy, you should be research base and buy when it’s okay to buy. Since it’s spot, you can equally do spot copy trading on exchanges with the feature just like Bitget.

[knowngunman]

I love the word hodl wisely, most newbie like me fail to hodl wisely due to some reasons or I don't know sometimes for the love of quick money forgetting that bitcoin investment does not work like that. Most people get over excited about bitcoin investment and they end up falling into the hands of scammers. I don't know if this is common in crypto like in fiat, when an individual just create a new bank account they're high chance falling a victim to the hands of scammers so I don't know if this is also in crypto(bitcoin) because the number of victims who fall into the trap of scammers are just too much. Ever since I joined this forum, this forum has enlighten me more about bitcoin investment and tips to secure bitcoin hodling. Last two weeks I read how a lady got scammed and how it happened she also said she took the investment advert about bitcoin on Facebook, that's why I don't like following people advertising crypto online they're all scammers. Secondly I personally as a newbie starting my bitcoin journey I don't give attention to Unkown contact trying to talk about bitcoin investment.
https://www.hodlatm.com/scams

This practice is mostly common with banks as to compare to crypto industry. I read the story through the link you provided and it's evident and clear that the victim fall into the hands of scammers. I would have blamed her for being too gullible by trusting a total stranger online while money is involved but, I realized that it's possible for everyone to fall victim easily to this scammers if you are not smart enough. In crypto, the only possible way that someone can steal your assets is when you misplaced your keys or connect your wallet to unsecured sources.

It's foolishness of someone to give their login details, bank pin or wallet keys to friends or total strangers either in real life or online. Even the banks have been warning their customers to never share their pin with anyone, not even the bank staffs because they can never demand for pin online or phone calls. When you share your secret pin or keys with someone, you're also sharing your asset with them. Protect your wallet as you protect your life.

[Mate2237]

There is different between hodling and security. Security is when you protect your seed phrase and password of the wallet. And those things can be protected even though when you are not having any bitcoin in the wallet because you know that one day you will have in in the wallet so it should be secure from external used. And since bitcoin is a decentralized cryptocurrency, the security of the portfolio is for personal, one have to be conscious about the wallet and it protection.

But using third party apps to secure the funds is not really advisable because most of those apps and not trustworthy. All what one have to do for the major security of the coins to steer clear from all including house members and friends but if you decide to show a trusted person in your family then no problem. And as it is said by others in radio stations and security measures. "Security is a personal business". Everyone has to secure their assets with whatever way you can.

[tjtonmoy]

Electrum is great but I suggest you DYOR and try Sparrow sometime in the near future.

I would give it a try, but the thing is it is only available for PC and Mac. For daily uses, I mostly use my phone and use a software wallet in it for transactions. It is quick and accessible in any place and as I am carrying the phone I am also carrying the wallet itself. Electrum has the option for Android and iOS platform. I can use my phone's security lock, then I can use app lock and finally the wallet having its own security lock. This makes it kind of secure but not entirely.

But when you were on the go and you really need to do a transaction, then having something in the palm of your hand is better than having nothing. I can easily use a separate wallet with less amount of Bitcoin and I can freely travel with it while having it in my phone. Also, I have become familiar with electrum wallet's interface. Trying something else might hurt my brain. Maybe I will stick to electrum wallet for now. But if there's availability for other platform as well for Sparrow Bitcoin wallet, I Will give it a try.

[Mahanton]

Yeah. Hodling is not a new word and especially here on the forum, users are advised to hodl and it will prove rewarding ( for those who plan to sell) when the next bull run season approaches. A necessary advice given by the Op which I think is quite important because there are still those who fall victims of hodling their Bitcoin on CEX which might be cool but not until the exchange gets closed down without prior information (exit scam) or even be victim to hacker attack.

To ensure you don't fall victim of stolen coins or missing funds, it's best to store your crypto in self custodial wallets, that way you are the only one with access to your funds and while it has its perks, it can be risky if you misplace your private keys you might as well be kissing your funds buh bye!

Many of us are enthusiastic about holding Bitcoin for the long term because Bitcoin can give an investor multiple returns over the long term. But if we don't have a good idea about where to hold the bitcoins then after a long period of time we may loss our all holdings . Many of us try to hold bitcoin in various exchange platforms which must be abandoned. Because at any time an exchange platform can be hacked. I saw last few days ago that an exchange called Poloniex admitted to being hacked. They have been suspending their users' withdrawal money for quite some time now. If an investor loses his money after putting in a lot of effort then this investment platform can definitely turn out to be a curse for him. So before investing you must give utmost importance to the wallet and its security.

Truth be told, many new investors are just hyped by the thing "hodl" or hold, and there's nothing about that. You could just hold and store your assets in a secure wallet and let them grow long-term, but the thing is, you can't just buy and buy bitcoin or a fraction of bitcoin anytime you want; you need to know which time and moment it is good to buy bitcoin assets, so it still needs even basic knowledge about charting and analysis of the bitcoin market. I've known a few friends who decided to invest in bitcoin out of curiosity and immediately bought some of it, but the thing is, they don't analyse the market or the movement of bitcoin before purchasing, and in the end, they can't sell their bitcoin because the price goes down, resulting in locked assets as they will wait for the moment that their asset will turn green again.

I’m sure this is where the word DYOR comes in, you shouldn’t buy at anytime you wish or just by people telling you to buy, you should be research base and buy when it’s okay to buy. Since it’s spot, you can equally do spot copy trading on exchanges with the feature just like Bitget.

Hears out that you are just basically shilling out Bitget. We do have several or turns out to be that a very common feature on having those copy trading feature not only in Bitget. If you arent really that shilling then its really still a good consideration on dealing with such platform but if i were to those people who do have plans then better to stick into those known exchange. Its true that on the time that you would really be
dealing up with something then it is really just that right that you should really be doing in depth research on things and dont make yourself that be hasty when it comes on making up decisions.
Information could really be able to get in the internet but be careful that you should really be choosing on which is viable and non shady.

As for holding Bitcoin then nothing beats out if you do really make use of those non-custodial things considering that you are really that getting a hold or full control of those keys
on which you cant really be able to do such thing when you are really that dealing up with centralized platforms or things which arent that giving you
the access of your coins into your own wallet, you could really be able to tell the difference.

[Russlenat]

There is different between hodling and security. Security is when you protect your seed phrase and password of the wallet. And those things can be protected even though when you are not having any bitcoin in the wallet because you know that one day you will have in in the wallet so it should be secure from external used. And since bitcoin is a decentralized cryptocurrency, the security of the portfolio is for personal, one have to be conscious about the wallet and it protection.

But using third party apps to secure the funds is not really advisable because most of those apps and not trustworthy. All what one have to do for the major security of the coins to steer clear from all including house members and friends but if you decide to show a trusted person in your family then no problem. And as it is said by others in radio stations and security measures. "Security is a personal business". Everyone has to secure their assets with whatever way you can.

These two are actually different but we know that long term hodling will go into waste if we cannot assure the security of our wallet. That's why security should comes first so that all our money and efforts just to buy and hold the coins will never end up useless and see them stolen because we fail to assure the security of our own wallet. That means keeping the seed phrase only to ourselves, and not disclosing it to others even to your family and trusted friends.

A lot of us have only focused to buying and long term hodling because we aim for maximum profits in the future, but we tend to forget to provide high security to our wallet first which is very wrong. Bitcoin which is highly valuable should be kept privately and securely, otherwise hackers will be the one to benefit them in the future.

[KennyR]

It is the right time to hold. People used to hold good volume of cryptocurrency, but the mistake done by them makes the holding go unused. Whether it is very few dollars worth of cryptocurrency or a huge amount of cryptocurrency, we need to be more responsible in keeping it securely. The control should be with us, We should never let the fund stored in a third party platform. We may think it is secure and the platform will take responsibility if some hack/issue arises. Not at all, they'll just show the terms and conditions of them and move on.

[MFahad]

It is the right time to hold. People used to hold good volume of cryptocurrency, but the mistake done by them makes the holding go unused. Whether it is very few dollars worth of cryptocurrency or a huge amount of cryptocurrency, we need to be more responsible in keeping it securely. The control should be with us, We should never let the fund stored in a third party platform. We may think it is secure and the platform will take responsibility if some hack/issue arises. Not at all, they'll just show the terms and conditions of them and move on.

This time is good for holding because everyone heard about halving and if yet they are not holding their asset then it means that they are not serious about their money. Security is also very important because if you Put large amount of money but your selected wallet is not secure then it will never give you any profit but instead your own holded money will be hacked.

Actually bitcoin is decentralized so involvement of third party is not permitted here therefore it will be remain save but rest of security depends on us that in which wallet we are saving it and also save your keys securely as without it no body can get access to your asset in order to steal your money.