Quote from: alastantiger on November 26, 2022, 06:10:03 AM

HODL is a term commonly used by cryptocurrency investors that refuse to sell their cryptocurrency regardless of the price increasing or decreasing. It is more frequently used during a bear market when people refuse to sell their coins despite the price drop. Therefore, a holder is someone that HODLs bitcoin no matter the market situation.

Who is a Successful Holder?

A person who is a Skeptic. Most of the time, our skepticism is obscured by feelings, fear, and greed, which leads to poor conclusions. When it comes to your money, doubt is typical. However, your skepticism should be paired with a realistic and safe investment strategy. Avoid using excessively dangerous platforms, exchanges, and wallets, and don't leave anything to chance. Be on the lookout for planned pump-and-dump operations and frauds. Your skepticism will alert you any time something doesn't seem to add up. When something seems too wonderful to be true, it was generally a bad decision.
A person with a basic understanding of the technology behind blockchain and cryptocurrency to be able to make good investment decisions.
A person with the right and correct information all news and development about crypto with no exception because the blockchain space is rapidly evolving, socially, technically, and legally and staying updated is important to keeping money safe.
A person with a working strategy which includes an investment plan, a target to take profit, and the duration of the investment.
A person who is security-conscious. The individual keeps their wallet password securely both online and offline. Does not share their private key and trades on highly secured platforms and exchanges. Because they know that a breach in the security of a platform can result in the loss of fortunes.

How to Become a Successful Holder

1. Choose a trusted and reliable wallet and exchange to trade and keep your cryptocurrency.

2. DYOR - Do your own diligent research

3. Do your fundamental analysis

4. Stay informed - Be up to date with news

5. Be Strategic - Do not invest all your lifesaving, only save the amount you can afford to lose

6. Diversification- Diversify, do not put all your eggs in one basket

7. Cold Wallet storage - Lock up your crypto and tokens. It will relieve you of mental pressure.

What do you think? What other tips are there for becoming a successful holder?

Sources:

- https://remitano.com/learn/ng/121550-how-to-be-a-successful-hodler

- https://academy.binance.com/en/glossary/hodl

Good directions. Just buy and hold bitcoin. Perform DCA in and DCA out. With your spare cash, put it toward innovative small-cap projects. The future is privacy, in my opinion.