What are the advantages of 'hodling' cryptocurrency instead of selling?

3 answers

• Dec 21, 2021 · 3 years ago
  Hodling cryptocurrency instead of selling can have several advantages. Firstly, it allows investors to potentially benefit from long-term price appreciation. Cryptocurrencies are known for their volatility, and by holding onto them, investors can take advantage of potential price increases over time. Secondly, hodling can provide a sense of security and control. By holding onto their own cryptocurrencies, investors have full ownership and control over their assets, without relying on third-party platforms or exchanges. Additionally, hodling can be a strategy to avoid short-term capital gains taxes. By holding onto cryptocurrencies for a longer period of time, investors may be eligible for more favorable tax treatment. Overall, hodling cryptocurrency can be a strategic approach for investors who believe in the long-term potential of digital assets.
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• Dec 21, 2021 · 3 years ago
  Hodling cryptocurrency instead of selling is like holding onto a golden goose. You never know when it might lay a golden egg! By holding onto your cryptocurrencies, you have the potential to benefit from future price increases. Sure, the market can be volatile, but if you believe in the long-term potential of cryptocurrencies, hodling can be a smart move. Plus, it's exciting to watch your investments grow over time. So, why sell when you can hodl and potentially reap the rewards in the future?
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• Dec 21, 2021 · 3 years ago
  At BYDFi, we believe in the power of hodling. Holding onto your cryptocurrencies instead of selling them can be a wise decision. It allows you to participate in the potential upside of the market and benefit from long-term price appreciation. By hodling, you also avoid the transaction fees and potential slippage that can occur when selling and buying back in. Additionally, hodling can help you avoid making impulsive decisions based on short-term market fluctuations. It's a strategy that requires patience and a long-term perspective, but it can be rewarding in the end. So, consider hodling your cryptocurrencies and staying in the game for the long run.
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