Don't Just HODL But HODL Wisely and Securely

[Victorik]

You are right OP, it not just about hodling but the question is how secured are your bags?
Just today, someone was sharing in a group I belong to how his wallet was exploited and funds removed because he sent a zero transaction to an address.
Funny thing the person in question is not even a newbie, but was caught off guard.
Also another person said he opened his algorand wallet he abandoned long time ago only to discover that the wallet has been exploited, funds moved out of the wallet and he lost complete control of the wallet.

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[Out of mind]

Of course, we have seen this before that the main source of Bitcoin is to HOLD where you can get the most profit. This HODL word gives us the most faith in the future and plans to make money. There are many people who bought bitcoins four years ago and are holding on to the bitcoins for the halving. There are also individuals who will buy and hold Bitcoin before the halving only to HODL for the post-halving bull market in 2024 when Bitcoin will peak in hopes of high profits. Moreover, a user holding Bitcoin must store his funds carefully and safely, otherwise there are chances of many fraudsters and hackers hacking it. For that reason, it is safest for Bitcoin hodlers to use secure software and hardware wallets and to keep their keys safe.

[disferret]

Hodl. Ahh the nostalgia hits reading this post. Who else.

[GbitG]

Very true, before you think about holding, you should think about how to protect your assets well. This is one of the most important things that everyone must learn, whether experts or beginners, as asset security is considered the most important thing.

Yeah bro, I agreed with you that security is one of the main thing in cryptocurrency industry. Because the most difficult goal in the field of cryptocurrency is privacy and security, and the first step is to enter the industry, if this step is not strong, there may be difficulties in other matters.

What I mean is that the first step a person should take is to protect his assets but later think about investment or holding. Because when you don't have any assets then what to do with holding. So, before holding, you should not ignore whether the thing that I am holding has been preserved or not. So if the person realizes this thing, he cannot call Khabi Dhoka or lose his fund. And if someone ignores this thing, I think he is abusing himself, even if he knows that this is my first step and he does not put the assets in something safe, i.e. Hardware wallet.

[passwordnow]

Hodl. Ahh the nostalgia hits reading this post. Who else.

No longer feeling nostalgic on this one because it has been a daily word for most of us. 

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.

The sad thing is that there are still people that let third party control what they are holding. They think that it's still the best option after all even if there have been incidents that it's not the best place and option to do. With having those experiences from the others that they don't have whole control to their bitcoin and other funds that they're allowing to be held by any platform.

That's the time that they're losing it all. Because instead of having a full custody to what they own, what matters to them is the trust that has been built through these platforms and they think that it's totally fine to get on them because they have been said to be trustworthy. But it's not all about the reputation but the reason why you're allowed to hold your own key when you choose to hold it on your very own wallet that provides you the seed phrase or private keys.

[2girls]

You are right OP, it not just about hodling but the question is how secured are your bags?
Just today, someone was sharing in a group I belong to how his wallet was exploited and funds removed because he sent a zero transaction to an address.
Funny thing the person in question is not even a newbie, but was caught off guard.
Also another person said he opened his algorand wallet he abandoned long time ago only to discover that the wallet has been exploited, funds moved out of the wallet and he lost complete control of the wallet.

We should all be aware of these transactions as mostly common hack are now that when we add some token contract in our wallet and when we go through the wallet or any Dapp and swap that token which have more worth.

Then first they requires more Bnb just like 9$ to 12$ of Bnb it requires just to allowing the contract for the tokens that we have selected and received spam tokens.

Then after that it hacks our wallet and take away all the money that may be in our wallet. We can always take out ourselves from these type of scams as it is too common now a  days even with the top youtubers it happens.

[Promocodeudo]

OP, I see this as an advice not just a thread, this HODL is very common to every bitcoiner but the process of achieving outrightly is the major concern, I dont have much to say in this but I will to be enlightened to this effect, as holdler which wallet is the best to use, this thread has reminded me that one need to apply all the necessary strategy for he or she to be successful in the is approach, people has been losing custody of their wallet, it not a new thing, but I think choosing this right and well known wallet for holding will be the best decision for a holder, for me, I want to know the best wallet for this journey.

[lalabotax]

You are right OP, it not just about hodling but the question is how secured are your bags?
Just today, someone was sharing in a group I belong to how his wallet was exploited and funds removed because he sent a zero transaction to an address.
Funny thing the person in question is not even a newbie, but was caught off guard.
Also another person said he opened his algorand wallet he abandoned long time ago only to discover that the wallet has been exploited, funds moved out of the wallet and he lost complete control of the wallet.

It seems like things like this have happened several times. holding should not just be about saving or investing our money in Bitcoin or certain coins for a certain period of time. but also how do we secure it from all kinds of losses. There are several cases when people who hold it then share it on social media proudly and say that they have some BTC in their wallet. In this case, maintaining privacy in holding is also very important because otherwise criminal crimes can occur very easily. So it's true that you have to be wise and smart in holding.

[gunhell16]

You can use this website to get some reviews on Bitcoin wallets then choose a good wallet to use.
https://walletscrutiny.com/

As far as I know, the Mycelium wallet is no longer good to use because of the number of issues that have arisen and have not been answered by Mycelium itself. Concerning issues were ignored. Then there are the others that are listed there that I have not tried either.

But the electrum on the desktop is really proven and tested; besides, the unstoppable is also good to use, according to my experience using it here too, to be honest.

[mamesso]

The word "HOLD" is like a trigger for investors to hold on to the Bitcoin they own as long as they can to reach the highest level ever achieved in the past. Investors who believe in Bitcoin's future potential motivate themselves with the word HOLD so they don't easily slip up when Bitcoin starts to flash a red light on the market. Those who have begun to believe in their attitude will continue to try to hold Bitcoin to avoid all deception and negative issues that are visible or hidden so that they can pass safely. Investors who are always alert and act according to plan will gain greater profits when Bitcoin enters a bullish phase.

[btc78]

The word "HOLD" is like a trigger for investors to hold on to the Bitcoin they own as long as they can to reach the highest level ever achieved in the past. Investors who believe in Bitcoin's future potential motivate themselves with the word HOLD so they don't easily slip up when Bitcoin starts to flash a red light on the market. Those who have begun to believe in their attitude will continue to try to hold Bitcoin to avoid all deception and negative issues that are visible or hidden so that they can pass safely. Investors who are always alert and act according to plan will gain greater profits when Bitcoin enters a bullish phase.

i’ve seen someone say that they buy btc and just forget about it until they’ve seen most profit and it’s time to take it out or sell it

i totally disagree with that kind of plan it’s still the best to check your btc every now and then even if you have clear plans of holding

like many people in this thread whom have shared cases of hacking or exploited wallets security is the main reason why we can’t just be lax we trust bitcoin and have confidence in it but we still need to be alert and smart

[Essential10]

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.

How secure are our bitcoins? It is much safer to download wallets from official websites or trusted sources rather than relying solely on the Play Store or App Store. Ways to protect bitcoins include using strong passwords, enabling two-factor authentication, and keeping your private keys safe. Not sharing our personal information or wallet details with anyone. should consider using hardware wallets or cold storage for long-term storage of bitcoins, as these are considered the safest options. And always be wary of people or companies promising guaranteed returns or quick profits, as these are often red flags for potential scams. Fund security should always be the top priority when choosing a cryptocurrency wallet. HOLD wisely means not only holding bitcoins, but also protecting them from potential threats.

[Victorik]

You are right OP, it not just about hodling but the question is how secured are your bags?
Just today, someone was sharing in a group I belong to how his wallet was exploited and funds removed because he sent a zero transaction to an address.
Funny thing the person in question is not even a newbie, but was caught off guard.
Also another person said he opened his algorand wallet he abandoned long time ago only to discover that the wallet has been exploited, funds moved out of the wallet and he lost complete control of the wallet.

We should all be aware of these transactions as mostly common hack are now that when we add some token contract in our wallet and when we go through the wallet or any Dapp and swap that token which have more worth.

Then first they requires more Bnb just like 9$ to 12$ of Bnb it requires just to allowing the contract for the tokens that we have selected and received spam tokens.

Then after that it hacks our wallet and take away all the money that may be in our wallet. We can always take out ourselves from these type of scams as it is too common now a  days even with the top youtubers it happens.

Yeah. It is very important to be very careful with the contract we interact with.

These days they send all manner of Phish token to your wallet and waiting for unsuspecting victims to interact with them, if you do, that will be the end of your wallet.

And I think also as a precaution because you never can't be too sure of the sites you're interacting with on your dapp. It is important that you revoke access.
You can do this by visiting: revoke.cash

[pinggoki]

The word "HOLD" is like a trigger for investors to hold on to the Bitcoin they own as long as they can to reach the highest level ever achieved in the past. Investors who believe in Bitcoin's future potential motivate themselves with the word HOLD so they don't easily slip up when Bitcoin starts to flash a red light on the market. Those who have begun to believe in their attitude will continue to try to hold Bitcoin to avoid all deception and negative issues that are visible or hidden so that they can pass safely. Investors who are always alert and act according to plan will gain greater profits when Bitcoin enters a bullish phase.

HODL is loosely used though which is the problem, hodling should be long-term and people use the term for holding a bitcoin for a month, 6 months or a year when in reality long-term should be around 5 years onwards because that's how long-term investment is measured, my scaling isn't even that accurate as I considered 5 years as long-term, that's why HODL means hold on for dear life. Belief in the potential of bitcoin is something that should be a prerequisite when you plan to invest in bitcoin because without that belief, you aren't going to last long because bitcoin is a volatile asset to hold and you're going to have a hard time because those volatilities in the market is anxiety and panic inducing, if you can't handle those as a person then bitcoin isn't for you also worth adding is that belief in bitcoin that it's going to liberate us from the undermining and old financial system should go hand in hand with our belief that it's going to go up in terms of it's market value.

[Victorik]

You are right OP, it not just about hodling but the question is how secured are your bags?
Just today, someone was sharing in a group I belong to how his wallet was exploited and funds removed because he sent a zero transaction to an address.
Funny thing the person in question is not even a newbie, but was caught off guard.
Also another person said he opened his algorand wallet he abandoned long time ago only to discover that the wallet has been exploited, funds moved out of the wallet and he lost complete control of the wallet.

It seems like things like this have happened several times. holding should not just be about saving or investing our money in Bitcoin or certain coins for a certain period of time. but also how do we secure it from all kinds of losses. There are several cases when people who hold it then share it on social media proudly and say that they have some BTC in their wallet. In this case, maintaining privacy in holding is also very important because otherwise criminal crimes can occur very easily. So it's true that you have to be wise and smart in holding.

I think one of the safest ways people are using is to move their assets to a hardwallet. But the disadvantage if using this method is that whenever there is a snapshot, you might not be captured, and this could make you lose out  of possible Airdrop. That's why some people only move their stable coins to the hardwallet and leave other tokens in their custodial wallets.

[HONDACD125]

HODL is loosely used though which is the problem, hodling should be long-term and people use the term for holding a bitcoin for a month, 6 months or a year when in reality long-term should be around 5 years onwards because that's how long-term investment is measured, my scaling isn't even that accurate as I considered 5 years as long-term, that's why HODL means hold on for dear life. Belief in the potential of bitcoin is something that should be a prerequisite when you plan to invest in bitcoin because without that belief, you aren't going to last long because bitcoin is a volatile asset to hold and you're going to have a hard time because those volatilities in the market is anxiety and panic inducing, if you can't handle those as a person then bitcoin isn't for you also worth adding is that belief in bitcoin that it's going to liberate us from the undermining and old financial system should go hand in hand with our belief that it's going to go up in terms of it's market value.

I think the purpose of holding should never be that you don't sell your bitcoin even if you get a good profit. It is not necessary to sell your Bitcoin when you need the money but always wait for the bull season where the price of Bitcoin always touches its all-time high. I think it would be better if it was linked to Bull Season instead of five years.

Fluctuations are a part of this market and one should never be afraid of it, but these fluctuations are the stepping stones to our profits which are increasing day by day, but along with just holding here, it's also clear that you're holding your bitcoins as well as keeping them safe. Just as we thoroughly evaluate the security measures of all our valuables, we must fully understand the security measures of Bitcoin. This is because our little carelessness and one mistake can lead to our big loss.