In my "Crypto Whiteboard 101" series, I explain the most important cryptocurrency topics in less than two minutes. In today's post, we answer the question "What does it mean to HODL cryptocurrency?"
HODL is a cryptocurrency acronym that means Hold on For Dear Life. People who "HODL" a cryptocurrency generally have a very long term outlook and want to hold onto the cryptocurrency regardless of short term market fluctuations. This stands in contrast to someone that frequently trades in and out of positions or someone who sells cryptocurrency at the first sight of bad news. Someone who "HODLs" cryptocurrency is likely to agree with the phrase "the trend is your friend" and point out that although cryptocurrency does have short term volatility, the long term trend has been quite bullish. #hodl #btc #crypto
I heard that hodl word also comes from a drunk man who misspelled the word hold.