Are You Day-Trading or HODLing Your Cryptocurrencies?
When it comes to buying cryptocurrencies, you will notice that after some time, you will either be more of a day-trader (short-term trading) and less of a HODLer (long-term investing) or less of a day-trader and more of a HODLer. None is bad, they are both great ways of making money in cryptocurrencies.
However, you need to be very careful when applying someone else’s advice or opinion in your cryptocurrency portfolio. A day-trading advice might not fit well in your HODL or long-term portfolio and a long-term investment advice might not fit well in your day-trading or short-term trading portfolio.
If you listen to any financial or investment advice online as relating to cryptocurrencies, first of all, find out if the person is speaking to long-term HODLers or day-traders. Find out what or who the message is for and even if it’s for you, do your due diligence before applying it to your cryptocurrency portfolio.