Hey guys. Just to clear up a little misunderstanding I've got. There's something I don't quite understand and it is what happens after people hodl coins and altcoins.
So, we all say that hodling is better than trading, yeah? And I think the only way to earn from cryptocurrency is by exchanging it for fiat currency, right? Meaning, the hodling is just for the value to increase over a while and then you still trade it right?
And for the altcoins, after buying altcoins, what happens if no one wants to buy them from you? You know a lot of altcoins aren't all that popular so how do people even sell off their altcoins? Can you even hodl altcoins?
I know those are a lot of questions, but I keep on getting it wrong in my head. So thanks in advance for the answers.
Misconception of what trading is and I guess it was comprehended literally. You might be referring to dy trading which is characterized by buying low and selling high. It is holding for a period of time until you're satisfied with profit which is the time you'd be exchanging it to fiat to buy something or make use of it. However perhaps you are about to buy a car and the company accepts crypto, then there's no need to swap it to fiat. All cryptos will be bought in the market as long as there is a volume. Indeed there are those which value have been sleeping and not having a volume that could give you trouble on selling it, but why would you engage on those coins in the first plaace wherein there are established ones already to free you from this worry. Altcoins can be held some are consistently increasing in the long run and one big example is Ethereum. It is normal to misunderstood some concepts and it is the right thing that you've asked. We just tend to generalize things if we know nothing much of it but that's not to close the doors from learning.