Source
r/CryptoCurrency•
chasingpace

Can I hodl long term like a traditional investment?

Finance

I've currently got a pretty good split of anchor coins (ETH, BTC) and alt coins (ARK, ARDR, REQ, BAT, POWR, ICX, NEO).

When I originally got into crypto I thought I'd be hodling anchors like ETH/BTC until 2020 (or until they replaced fiat). But I assumed I'd go for 5-10x on alts and sell.

However, I now see a lot of promise with some alts, and want to just hodl them through ups and downs like I would a mutual fund, etc. Is this a bad idea? Should I be setting a target of 5x or 10x and taking out profit?

Posted Jan 3, 2018, 11:46 PM UTC

34
AaronHolland44•

HODL away baby. It's the difference between taking yourself somewhere nice to eat and buying a new car with your gains.

2
[deleted]•

[removed]

1
[deleted]•

[removed]

1
okiedokie321•

Anchor coins are a safe, conservative bet (can't believe I'm saying that) while the other alt coins are medium risk and then the "no names" are high risk but potentially high reward. I'd do 50% anchor (BTC/LTC), 25% medium risk (NEO/XLM), and 25% high risk (STEEM/TRX). That's just an example. But then again, that all depends on your age, savings, debt levels, and so forth. If I was 22, I'd go 100% high risk but that's just me.

Note, that doing any of this, you would probably want to forego traditional retirement vehicles like 401K/IRA or meet the minimum match while putting your money into crypto for investing.

1