If you are a crypto enthusiast, then you must have abreast with many crypto terminologies. But if you have missed out about HODL, then your knowledge is incomplete. The role of HODL is very important in cryptocurrencies. The term HODL is known to have generated from a typo. Since then, it has become an essential part of the crypto world. Now, what is HODL in Crypto? Is it compulsory to HODL or should it be intercepted? Well, in this blog, we are going to uncover all the facts about this term and will let you know about it. So keep a tab on the blog and access all the essential facts about HODL.
Role Of HODL In Crypto World
If you are familiar with acronyms since your school days, then consider HODL just like that. The HODL is misspelt word of hold, which means holding something. But it became popular with its misspelt version ‘HODL’ when the first time the person name GameKyyubi pronounced it on a Bitcointalk post on December 2018. The role of HODL in cryptocurrency means the capability of holding during the high and low phase of the cryptocurrency market. Despite the adverse situation of price swings. Since its beginning, HODL has evolved from typo to a meme. Many have tried out their luck in HODling and have changed their destiny.
Pronouncing HODL In Place Of HOLD
This curiosity might have generated interest as to why there is the use of HODL instead of HOLD. Well, there is not many kinds of huge difference as the term unexpectedly became popular despite the interpretation of the word hold. The role of HODL is to hold on. Some people are into the favour of selling. They are stick to Bitcoin buying with the replacement of what they have spent. HODL is important for someone interested to hold for the minimum duration might appear too much, but those who are dipped in crypto idea, the choice becomes relevant.
Whom Do You Like To HODL? Altcoins Or Bitcoin
Now it all depends on someone’s personal choice regarding whom to HODL for. Bitcoin being the ruling digital currency is mostly preferred for HODLing. But it is not wholly accurate, as there are competent altcoins like Monero and Ethereum that are too considered for HODL because they are useful for space in cryptocurrency.
Coins That Are Ideal For HODLing
While knowing about the role of HODL in cryptocurrency, you need to understand that a proper evaluation is must to ensure about selecting a coin for HODLing. Any coin which seems promising in HODL will be very exceptional in terms of use. The value of this coin, having enough low supply will also be appreciated with time. HODLing is also suitable for much-acclaimed currencies because it is very complicated to estimate new assets.
The option of HODL expects a user to be put firm belief in coin and should invest fully. Although the coins which have maximum market capital are more stable. But the coins with minimum market capital can prove more profitable. HODLing is a long term process theory, so if you need to be very careful regarding your options for storing coins. It is recommended to refer the paper wallet for the coin storage.
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