Why hodling isn't for everyone.
Before you skip the whole write up and straight to the comment section and rant about how hodling made you rich, I first must say this:- Hodling isn't for everyone, it might be for you, but it isn't for vast majority of the market. I encourage you to try to take everything in this write up with a grain of salt.
I have been in crypto for 4 years and counting. Aside from the opportunity to make more of the money I have invested (Also potentially losing it), the reason why I find myself sticking around a lot is because of the very idea of not wanting to miss the train to richness. *Chuckle* That is FOMO. But really, all I want from crypto is just a little bit extra, for financial freedom/independency. Maybe some part of me, wanting to embrace the technology it could bring us too. New potential projects that one can invest in at the very early stage is exciting most of the time. Those lingering ideas of getting rich and you could finally say to yourself "All of these time spent, was worth it! I made it, finally!"
https://www.memecreator.org/static/images/memes/5265820.jpg
But let us be real for a moment here shall we. It is a fact that in reality that it is quite difficult to hodl, let alone becoming rich overnight. That is what everyone tries to tell you, while they get to dump on your bag every chance they get. The reason why crypto is volatile is because it is easily liquidated - making it harder to hold.
First of all, let me be upfront with my fellow crypto users. I am currently residing in a 3rd world country and as most would know, opportunity to make more money than one's belly could fill is totally rare. By this reason alone, everyone would understand how difficult it is to keep money at bay when the need to pay the bills, eat and survive surpasses the need to hodl.
As time goes by, I find the very idea of hodling is actually more destructive than it could build in nature. More so than I thought it would. Sure, hodling can be good, provided that you bought at the bottom. Chances are, you bought your coin after you heard everyone is buying - then by the time you get to trade, it is simply one second too late. The simple explanation to this is this: Crypto is volatile. And with that volatility, one simply does not hodl or lock their position for a long period of time. You could however stake your coins and let it run its own course. Let me reiterate, I do not hate the idea of hodling - provided that you bought at the right price. Because if you didn't, chances that you will be forced to hodl before selling for loss(es). That is all.
though in traditional finance, hodling is a good practice - antiquing, stocks, precious metals, investments for residue income and more. However, in the volatile world of crypto, hodling will get most people rekt. Bear in mind that this is not a financial advice but a simple awareness post that could spark different ways of looking at how to make it in crypto. The practice of hodling derives from our observation of what happened to Bitcoin, and the potential return the habit could bring. However, we could say that opportunity was truly one in a lifetime and most of us will not be able to experience. You could also say that our habit of looking for the next 100x crypto gems, stem from this desire. While this is still possible, one would need to take a huge gamble on their money. Since this is most of the case, doing your own research is much more critically important.
See you in the next one! Thanks for taking your time to read :D
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