HODL Definition
HODL was first used as a typo in a December 2013 post on the bitcointalk forum. The purpose of the author was to announce that due to his little knowledge in trading, he will start holding bitcoins. Since then, this word has been used in the same sense many times.
Due to the high volatility of Bitcoin, this strategy is much more effective than trading, and for this reason, it has attracted the attention of most investors in this field.
HowTo HODL
Select the desired cryptocurrency to hold.
Bitcoin: Our recommendation is only Bitcoin due to high volatility. (Even Bitcoin has a history of 75% correction, which is much higher for other tokens.)
Altcoins: If you want to take advantage of the high growth of altcoins, it is better to sell them around the top.
Choose the right exchange and wallet.
exchane keypoints:
Have the currency of your choice.
Have a high volume of transactions.
Have the ability to transfer money.
Don’t have a ban on depositing and withdrawing up to your amount.
Deposit money into your account.
Buy at a low price
Best Time: usually one to two years before Bitcoin halving
Protect your asset.
Safety issue: Exchanges are never safe to hold digital currency assets. (due to issues such as hacking, bankruptcy, fraud, legal pressure)
Hardware wallet: Transfer your cryptocurrency assets to a hardware wallet.
Private Key: this is the only way to access your wallet. (there is no user-name & password or email access in wallets)
Safety: Put the private key of your wallet in a safe place (also put it in your will because it cannot be recovered in any way)
