Hodling is by no means easy, but there are ways to ensure you don’t act impulsively and let your crypto do the hard work for you.
What can hodlers to maximize profits and minimize losses?Leaving cryptocurrencies can end up being the lowest-risk strategy in the long run.
Those who remained fully invested ended up with a balance of $41,100 by Dec. 31, 2020. Missing the market’s 10 best days would have resulted in a balance of $18,829 — that’s a whole $22,270 less. Gritting your teeth and leaving cryptoassets untouched is not easy. Investors who lack discipline can end up becoming fixated when prices start falling — and this prompts them to act impulsively.
Aside from the security concerns, leaving crypto in an account means that these assets don’t grow — and there’s a temptation to start actively trading. You need to make sure that you feel like you’re making progress when you hodl.Staking programs have become a popular way to mitigate the downsides of hodling.
Crucially though, staked assets can also deliver a yield, meaning that they will accumulate value over time. This ensures that you feel you’re making progress, all while doing nothing.It’s a very fragmented market, but you can whittle things down with this easy checklist of requirements. Also, see if there are any added benefits to a platform. Some offer airdrops, while others offer an array of smart diversification options that allow you to make the most of your crypto.All of this begins by finding cryptocurrencies that have a long-term future, and a reliable staking platform that you can trust.
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