What is HODL in Crypto? | What’s Meant by HODL for Crypto?
By HODL, you might have caught this instinct of some mistake or misspell! However, this can be the case. Because holding on in crypto is a shaky process.
HODL or “Hold On for Dear Life”, is a commonly crypto slang, popular among the crypto community and its inhabitants. Although there are many others too, as FUD, MOON, or Sats. Still, HODL holds a phenomenal space.
I bet, you won’t miss a part of the interesting story behind how and why HODL came into form.
Or what HODL has to do with Crypto?
HODL — Hold On For Dear Life
If you’re an investor, HODL is the same as the term, buy and hold is! Nothing complicated than that. This is actually what most investors expect from the slang, HODL.
However, understanding HODL in context with two essential conceptions might be easier for you to understand.
Firstly, it can be “Hodl stock” or buy and hold stock strategies. Hodl stock is all about, buying strategies and then holding on to them. Buying strategies? Now, what does that mean?
Hodl stock or buy and hold strategies let investors buy stocks and other potentials. They do it for the sake of keeping up with them, rather than the fluctuating and volatile market values. Investors involved in this kind of hodl, tend to view the market for a long-long moment. As the general rule is “the stock gradually or slowly follows an inclined curve”.
Tactics of worthy inventors, You know!
By understanding the above one, you might develop familiarity with the other one. That’s about, Hodl in crypto. Hodl in Crypto is everything about holding to crypto-assets, rather than getting influenced by the volatile market trends.
But do you know? HODL is an independently existing community-based token on the Binance Smart Chain.
Thus, Hodl isn’t just a phrase anymore, it holds pennies in its pockets, too!
How did Hodl originate? | How did Hodl get Linked with Crypto?
After getting to know, what hodl is or can be or how it’s used. Now is the moment to quickly get through the novella behind the crypto and hodl.
It all started with the drunken rant made by a crypto trader. The rant was,
“I AM HODLING”
GameKyuubi coined this rant over the famous Bitcointalk forum. And that was the time, the misspelled “HODL” got an individual acronym.
The whole incident was so timely that Bitcoin down surged from its existing values. That was the time, GameKyuubi actually “Held On for Dear Life” and halted his tries to make a move.
His iconic saying is equally ranting in the meme world. GameKyuubi stated;
“You only sell in a bear market if you are a good day trader or an illusioned noob. The people in between hold. In a zero-sum game such as this, traders can only take your money if you sell”.
Hodl and Cryptocurrencies in a Nutshell
By now, you have got enough acquaintances with the terms thrown away from Hodl. The key role hodl plays, in educating potential investors is significant. It can’t be viewed as slang only, rather it encourages investors to stay in the game despite the short-term fluctuations faced by the crypto aura.
The soul of the idea, behind “hold for dear life” should trade beyond the concepts of certain trading moves. Out of which, the buy-and-sell surge observes during the crypto crash of June 2021 is phenomenal.
This isn’t just for the sake of the industry’s stability, it is rather a potential policy for investors’ stability also. Investors who sold their assets at pennies amidst the crash, tend to gain unpredictable losses. Whereas, the one holding on to them has somehow backed it off, very well.
After all, the dynamic cryptocurrency market is all about volatility and unpredictability. The upsurge may be gradual or continuous, but the down surges are always temporary and short-lived.
Hodl equally withstands every single cryptocurrency out there, be it Bitcoin, Ethereum or NFTs. However, you can choose or mint safely on NFTs through www.nftstudio24.com . But, to gain a long-term success ratio, holding on to your digital assets is the key!.