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How long should you hold a cryptocurrency investment?
– moneysense.ca
I’m new to investing in bitcoin and ether, but a long-time investor. But since cryptocurrencies are relatively new as investments, I was wondering if you could explain what it means to be a long-time crypto investor. How long should I hold on to it?—Sadie
A long-time investor is someone who, as the name suggests, adopts a buy-and-hold strategy. These investors aren’t looking for short-term profits—they’re in it for the long haul.
The strategy of buying and holding a cryptocurrency is often referred to as “HODL,” short for “hold on for dear life.” This strategy reduces risk for investors because they’re not affected by short-term volatility.
As for how long you should hold on to your crypto, I hesitate to answer this because everyone’s financial situation is different. But often, people treat bitcoin (BTC) like gold and hold on to it for years.
Playing the long game
Long-time crypto investors believe patience and time are their biggest assets. In contrast to stock traders, for whom constant effort, ongoing research and active management are necessary, crypto investors focused on the long term tend to do their research up front, purchase their coins, place them in their wallets and let time increase the value of their cryptocurrencies…
