To be honest, holding coins is better than trading coins, but the key is how to do it? Many people are busy with their trading while also trying to maintain their holdings.
In the crypto world, many people get so overwhelmed with trading that in the end, they earn very little and feel exhausted. In fact, from a long-term perspective, holding coins is more reliable. Remember the following tips.
First, don’t hold too many types of coins; more than six kinds makes it messy. Just choose mainstream coins that can stand firm for three to four years. If you are unsure, holding Bitcoin is a safe bet; it has the largest reputation and resilience in the crypto space.
Second, diversify your holdings; don’t put all your eggs in one basket. Choose one to six different coins, so that even if one encounters an unexpected event, like being targeted by regulations or facing technical issues, the others can still help you retain some capital, preventing total loss.
Third, follow the big players. Those who entered the industry in 2012 or 2013 have seen all kinds of ups and downs. Referencing the types of coins they hold can give you more confidence and save you from blindly experimenting.
Fourth, set a fixed investment strategy. Bitcoin's price fluctuates greatly, so don’t always think about catching the bottom. When it has been stagnant for a long time or shows signs of an upward trend, start dollar-cost averaging, entering the market steadily, and avoiding the panic of sharp declines.
Fifth, maintain a stable mindset. If you start holding in a bear market or at the beginning of a bull market, it’s likely you’ll get stuck. So, use spare money that won’t affect your daily life, treating it as money “thrown out” for two years without concern. Even if Bitcoin drops by 40% to 80%, don’t panic; it has fallen that much before and has always bounced back. We are just waiting for the big harvest in the future.
Recently, I plan to position myself with a potential coin that is set to explode; it’s quite easy to double my investment. At the same time, I am also preparing to find some potential coins to hold until the end of the year, with expectations of over ten times the return being very possible. If you want to follow along, check out my updates, leave a message, follow, and like. Gold. Group
