When it comes to Bitcoin, there are two schools of thought – those who believe in its long-term potential and hold onto their Bitcoin (known as HODLers), and those who trade it more frequently in an attempt to make short-term profits. So, which is the better strategy?
On the surface, trading seems like the obvious choice. You’re playing with real money and have the potential to make (or lose) a lot of it very quickly.
And, if you’re good at it, you can walk away with some serious profits.
However, there’s more to trading than simply making money. For one thing, it’s a lot more stressful than simply holding onto your Bitcoin.
You have to be constantly monitoring the market and making split-second decisions – it’s not for everyone.
And then there’s the fees. Every time you make a trade, you’re subject to fees from the exchange.
These can eat into your profits quickly, especially if you’re making a lot of trades.
So, what about HODLing?
HODLing is a much simpler strategy – you buy Bitcoin and hold onto it for the long-term. You don’t need to worry about the day-to-day fluctuations in price and you don’t have to pay any fees.
Of course, you need to be patient if you want to HODL. It could be months or even years before you see any significant profits.
But, if you believe in Bitcoin’s long-term potential, then HODLing could be the best strategy for you.
So, should you HODL or trade Bitcoin? There’s no right or wrong answer – it depends on your individual circumstances and goals. If you’re patient and believe in Bitcoin’s long-term potential, then HODLing could be the best strategy for you.
However, if you’re looking for quick profits, then trading might be a better option.