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1 Important Reason New Cryptocurrency Investors Should HODL
For most of my investing life, I HODL — Hold On For Dear Life. A few times, I tried day trading and realized that wasn’t my specialty. In the world of cryptocurrencies, HODL should be part of your investing habits.
Even famed investor Warren Buffett HODLs.
“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”
The crypto market moves very fast. You could compare the moves similar to the penny market world.
Prices will hold steady and then one day rise 50%, 100%, or more.
If you’re not following your cryptocurrency and don’t have stop losses set up, you could see a 100% return come and go before you know it.
HODL is a term that originated from a misspelling of the word “hold” in a 2013 online post to the Bitcoin talk forum. HODLers believe that the best way to make money in crypto is to buy and hold for the long term, regardless of short-term price fluctuations.
Crypto trading is the buying and selling of cryptocurrencies. It can be done on cryptocurrency exchanges, which are online…
