So, why is it attractive to those who want to make money on crypto but don’t want to constantly worry about price fluctuations?
What is HODLing?
HODLing is when you take a cryptocurrency and hold it in your portfolio as if it were your own... and it doesn't matter what's going on in the market. This "typo" came from the word hold, but it has become so ingrained in the crypto community that it's now almost a philosophy: buy it and don't touch it.
Why HODL?
1. Long-term approach:
Forget about these crazy price jumps. In HODLing, we play the long game. Buy and leave — let the volatility go wild. The idea is simple: hold crypto for years until it takes off like a rocket 🚀.
2. Ignoring volatility:
Do you see how the market rises and falls? The cold heart of a HODLer will not waver! 😎 The main thing here is not to panic and believe in the bright future of your asset. Do not forget: time heals everything... even cryptocurrency.
3. Fundamental analysis:
Of course, you shouldn't HODL anything. You need to think with your head here too. Analyze the project, the team, the potential... In general, turn on your brain before getting into a long-term portfolio. You need to understand what you're buying!
4. Storage safety:
And yes, since we plan to hold crypto for a long time, let's not keep it under the mattress. For such cases, we need cold wallets (the ones that are offline) - because we don't need hackers.
Why is HODLing cool?
- Less stress:
Forget about these constant market monitoring. We are not day traders who live by charts. HODL and forget. 😌
- Possibility of significant profit:
History shows that those who started HODLing Bitcoin at the dawn are now swimming in profit 🤑. The main thing is patience and faith!
- Minimum expenses:
No need to fuss with purchases and sales and pay commissions. Once you take a step, you sit and wait for your finest hour.
But not everything is so rosy...
- Long-term uncertainty:
The crypto market is like a jungle, and no one knows what will happen tomorrow. Be prepared for the fact that in a couple of years the asset may not take off.
- Lack of liquidity:
Need to sell urgently? Well, it may turn out that the price has dropped sharply and now is not the best time.
- Psychological pressure:
Watching the price jump back and forth and not giving in to the temptation to sell prematurely is not an easy task. It requires iron patience and cold calculation.
Example of successful HODLing
Listen, there are people who bought Bitcoin when it was under a dollar! 💰 And they held on to it until it skyrocketed to $60,000 in 2021. Now that's some patience! Yes, there were corrections later, but those who HODL are in the black!
So, if you also feel the power of a HODLer in yourself, be patient, believe in your assets and get ready to wait... maybe for a long time, but with pleasure! 😉
