I have thought of this topic because I don't invest much in altcoins, just trading it to profit. I'm talking about the one you will buy that you would HODL in the long term and keeping it in your cold wallet, hardware wallet, paper wallet, or whatever you do with it as long as you keep the currency itself.
The reasons I could think are the following:
I'm just wondering if there are other reasons that you may have and if you agree with the ones I listed. Share it here.
The reasons I could think are the following:
- You invest because of the Technology of the coin And what it could bring to the cryptocurrency space
- You know the developers and supporting them
- You believe you could profit in the long-term
- Because of the Name of the coin. Lol.
I'm just wondering if there are other reasons that you may have and if you agree with the ones I listed. Share it here.
Last two of the reasons are the main reason for me. I invest because I think I could make a profit out of them and the coin name is very important.
.Despite of the technology, the coin could fail. For example, PEARL had great technology but due to some problem the coin could rise as it was expected but rather the team divided in parts.
Next, if I had have invested a lot of money in some coin or personaly I am connected to a project then I would have support the developers. That usually does not happen for a normal trader.