Welcome to the world of crypto investments, where the traditional rules of finance are reshaped by the power of blockchain technology. In this digital age, cryptocurrencies have emerged as a kind of innovation, providing individuals with unprecedented opportunities to participate in a decentralized financial revolution. With their potential for significant growth, borderless transactions, and decentralization, crypto investments have brought more financial freedom. It stimulates people to buy cryptocurrency and use it for receiving income. When you acquire digital assets, you may use them in the following ways:
- stake it;
- trade it;
- hodl it.
Further, we will discuss what it means to HODL crypto.
What is HODL?
HODLing is not just a typo, but rather a steadfast philosophy embraced by the crypto community. Derived from a misspelling of “hold”, HODL has become a strategy for those who believe in the long-term potential of their digital assets.
HODLing implies the strong determination of an investor to hold assets – no matter if the market is sharply moving up or down. That’s a decision to ignore crypto price movements and hold assets long-term.
What is the Best Crypto to HODL?
Sure, BTC is the best coin to HODL. Here are other promising assets:
- AXS
- MANA
- DOGE
- SHIB.
To succeed in HODLing crypto, an investor should not allow impulsive reactions to every market movement. HODLers have a clear understanding that the market is highly volatile and it is an inherent part of investments. So they think long term and practice patience. That’s a reason why this strategy may not fit those traders who seek profit here and now.
On another hand, HODLing does not mean that you should not watch the market trends changes at all. The key thing here is to comprehend the project you invest in and the technology that underlies it, evaluate and have a clear vision of its long-term growth. To make weighted decisions, HOLDers never stop educating themselves and keep abreast of all the events and updates happening with the project they have invested in.
It’s also crucial to choose reliable storage for assets you decide to hold in the long range. For that purpose, investors usually buy Ledger. It helps keep funds away from the Internet connection, thus, eliminating the danger to lose them.
So it does not matter if you are a seasoned HODLer or a beginner. You should remember that when you HODL your assets, you are guided by confidence in the project’s growth. It’s all about the long-term vision of a decentralized future of finances that is going to change the world of finance.