Since that fateful post, “HODL”ing has spread far and wide across the internet with countless memes and high-profile advocates including entrepreneur Elon Musk.
For those who are unfamiliar, “HODL” stands for Hold On (for) Dear Life, though it originated from a 2018 post on the online forum Bitcointalk by an enthusiastic and inebriated crypto trader determined to ride out any market fluctuations by “hodling on”. Though you might be forgiven for thinking that “HODL” was some strange misinterpretation of a much-beloved character from “Game of Thrones”, it is actually an acronym that many people in the crypto community hold as a lodestar and guiding principle. As stated previously, cannot be held responsible for any changes to the prices of cryptocurrencies, outside market forces, government regulations, or other unforeseen events. Given that the value of single cryptocurrencies like Bitcoin and Etherium can vary as much as almost $65,000 USD for a single coin to just over $30,000 and finishing at $38,000 in the course of a single day, to say that the market is prone to volatility is something of an understatement. Despite what some factions of true believers on the internet would have you believe, there is absolutely no such thing as a “guaranteed investment” and this is especially true of any speculative asset, no matter how anyone else refers to it. What to know before you buy a hardware wallet for altcoinsRiskinessįirst and foremost, it is important to note that this article should in no way be interpreted as legal or financial advice regarding the acquisition and storage of crypto assets, alternative or otherwise. With a slim and powerful unit like the Ledger Nano S Cryptocurrency Hardware Wallet v1.4 keeping your cryptocurrencies safe, you can “HODL” to your heart’s content while ensuring that your precious coins remain exactly where you intend them to be. Rather than simply entrusting your main and altcoins to a solely digital wallet solution or directly on your own PC, investing in a hardware wallet can give you valuable peace of mind by providing physical storage for your coins while providing some truly impressive levels of security. While the debate over the virtues and life expectancy of the various mainstream forms of cryptocurrencies like Bitcoin and Etherium continue to be endlessly debated, one thing we can all agree on is losing access to a fortune due to improper security measures is a tragic but easily avoidable fate.
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