The Tenets of HODLing

Hodlers are the real deal!!!

They ain't scared at all because they have learnt the art of Hodling!

HODL is an acronym for a "hold on for dear life"

source: www.investopedia.com

HODLing in cryptocurrency is the action of holding investments despite falls in price. Those who practice the art of hodling are Hodlers.

The art of hodling is characterized by three main things:

• Research/enlightenment

• Believe/Faith

• Perseverance

(1)Research/Enlightenment is a very important skill required in Hodling (In my article: Who get there first wins , I will talk expansively on this). This involves surfing the internet, talking with friends, joining communities of shared interests and scavenging for projects early. The crypto space is a battle of information! information is pivotal.

You need to understand the language of cryptocurrencies like:

• Blockchain

  A blockchain is a distributed database that is shared among the nodes of a computer network.

  source: investopedia

• Decentralization

   Decentralization refers to the transfer of control and decision-making from a centralized entity (individual, organization, or group thereof) to a distributed network.

  source: investopedia

• Token

  The term crypto token refers to a special virtual currency token or how cryptocurrencies are denominated

  source: investopedia

• Liquidity

  Liquidity refers to the ability to quickly and cost-effectively convert assets into cash.

  source: investopedia

And many other terms used, these are only few of them. The aim of this is to understand and be able to read through contracts, documents, white papers and many more.

(2)Believe/Faith: Once you have gathered enough research, facts and evidences, you have to believe in it. You have to believe that it is worth your time, money, and sweat. After research, many scam schemes will be exposed, and so many contracts will look untrustworthy by you, but in all these, there will still be hundreds of coins or tokens, so whatever one you pick must be worth the choice, it must be one you will not regret. It is also advisable not to put all eggs in all baskets still you can't buy all the available ones, you will still have to make a choice. This choice is accompanied by action of buying.

(3)Perseverance: This is the the focal point where many people miss it. A huge percentage of us miss it because we lack perseverance. This is the final gem that makes you a true HODLer! Ok, so what does this mean? It is true we are humans and are influenced by news around, what friends and family say and what the crowd does in general. The crypto space is one of thorough perseverance! as huge as the profits are, the same are the risks taken. When you decide to Hodl a coin/token, it means you have decided to believe in its future and will hodl till it becomes valuable - very valuable . This is the true anthem of a Hodler. "Very Valuable" is the goal, not just valuable because a token to rise by 1000% today and fall 700% next month and in three months time have a 5000% pump!!! only hodlers enjoy these because the goal is to hodl till it becomes highly valuable. Of course we are humans and are often scared of losing, one advice is that you don't stake what you cannot loose, this is one rule of the crypto game!!!

The art of hodling is a must! it is one that must be learnt because the space called crypto is quite stormy only those who have their feet rooted in the rocks of research can believe and then persevere through the storms to enjoy wealth atlas!

Photo Credit: Unsplash