HODL!

Main topics of the post: On December 18, 2013 – HODL was born. It originated as a typo of the word "hold", used to describe the strategy of holding your cryptocurrencies rather than selling them. As we mark HODL's ten-year anniversary, it's worth noting how this approach has evolved. Tools like Automatic Investing and Simple Earn can improve your strategy. These services provide security for your assets, automate the purchasing process and allow your cryptocurrencies to generate passive income. Put your idle assets to work and grow your holdings. Earn crypto while HODLing. Rewards of up to 2,000,000 USDT available. It's time to participate in HODL & Earn with Binance! While HODLing has proven successful for many, it is not suitable for everyone. Users should base decisions according to their financial situation and risk tolerance. The story behind HODL's first use dates back to a morning in December 2013, a tumultuous time for bitcoin, which saw its price fall after reaching a peak of just over $1,100. In an online forum post titled: "I AM HODLING", user GamerKyuubi acknowledged his poor trading skills along with his intentions to hold onto his bitcoin. He encouraged others to “HODL” – not sell their bitcoin – even in the midst of a bear market. HODL, or “Hold on for Dear Life,” quickly became a widespread meme in the cryptocurrency community – a testament to persistence, determination, and the spirit of never giving up. As we see it today, the HODL mentality is now a widely adopted strategy among individuals who, due to their limited trading skills, prefer to hold their assets for the long term. What is the HODL Strategy? The HODL strategy is quite simple and is not exclusive to the crypto market: Buy an asset, or several, and hold it.Don't sell even if the price goes up or down. The logic behind HODL is to ignore short-term price changes and focus on the long-term outlook. It's by no means a revolutionary concept, but the strategy still requires a certain level of careful planning and thought. In other words, don't jump right into the crypto market and go on a buying spree. For those looking to HODL, or already HODLing, we've put together everything you need to know in this comprehensive guide. We'll start with the basics, like choosing the right coins, and move on to advanced products designed to enhance your portfolio.1. Choose the right cryptocurrenciesBase your decisions on in-depth analysis. Only buy a cryptocurrency because you believe in the project, the team and the mission. We understand that cryptocurrencies are intimidating. The jargon and technology are complex; However, don't choose a coin because you saw a funny meme or a "Twitter expert" told you its price will rise 100x in a few years. As always, do your own research (DYOR). Know what you are investing your money in. A good starting point is Binance Academy, an educational platform full of free articles and courses on topics related to cryptocurrencies and blockchain. On Binance Academy, you'll find guides for investing along with in-depth reports on hundreds of cryptocurrencies, including popular coins like bitcoin and ether (ETH). Take the time to read each article before making your first purchase. 2. Buy your first cryptocurrency You've defined your list of cryptocurrencies, now it's time to buy. Binance offers a variety of payment channels, including bank transfer, credit/debit card, or directly from other users via a peer-to-peer marketplace. Check out the following articles to learn more:How to deposit via Bank Transfer How to buy cryptocurrencies with a Credit/Debit CardIntroducing Binance P2P TradingAs advice, only buy an amount you can afford to lose. The cryptocurrency market is volatile and prices can fluctuate quickly. Even the best traders experience big losses. 3. Store your cryptocurrency in a safe place The next step is to choose the right wallet for your assets. There are several options. Your account's basic wallet is the most convenient. Binance handles your wallet key; however, you will not have full control over your funds like a self-custodial wallet. Self-custody wallets mean you are fully responsible for managing your own keys and cryptocurrencies. Once you've chosen your portfolio, consider testing Binance's automatic investment tool or putting your cryptocurrencies to work through a variety of passive income products. 4. Stay in the market Make regular contributions to your portfolio while HODLing. With Auto Invest, create a plan that automatically buys cryptocurrencies based on your preferences. You choose the quantity and frequency. For example, you can set up Auto Invest to buy $20 worth of bitcoin every month. Updating your plan only takes a few clicks, whether to pause, cancel or adjust the frequency of your purchases. 5. Earn daily interest while you HODL Grow your cryptocurrency portfolio through interest-generating services on Simple Earn, with hundreds of different tokens available on Binance.The process is simple. There is no trading, purchasing or anything complex involved. Browse our options and select a term plan that works for you, then relax while your cryptocurrency generates passive income. Please note that certain plans allow you to withdraw your earnings at any time (Flexible Products), while others require a lock-in period (Locked Products) for your funds. Be sure to carefully review the terms before subscribing to a plan.Is HODLing a strategy I should follow? Remember: the people who HODLed since 2013 endured years of heavy losses before their cryptocurrencies finally paid off. The HODL strategy is not suitable for everyone. Understand your own financial situation and risk tolerance before purchasing cryptocurrencies. Your financial situation may require you to sell your coins when prices are high or if you have suffered a very heavy loss. Certain cryptocurrencies – particularly smaller and more volatile ones – are less than ideal for a HODL approach. Take it easy and HODLA Binance has all the tools and features you need to HODL, from secure, easy-to-use storage to passive income plans for your cryptocurrency holdings. If you are new to Binance, create an account and complete verification. Binance is also celebrating the 2024 Bitcoin halving event by sharing up to 2,000,000 USDT in rewards on Binance Earn. Stay tuned to our HODL & EARN campaigns every month until the next halving and become a true cryptocurrency HODLer! And a final word for people new to the world of cryptocurrencies  – HODL is more than just a strategy for the crypto community. It's a philosophy, a mindset to stay resilient towards goals no matter what obstacles arise along the way.Further ReadingHODL & EARN: Up to $2,000,000 in Rewards to Share!What is Binance Earn and how to use itAutomatic Investing, New and Improved: Learn about new featuresProducts and services mentioned here may not be available in your region.Risk Warning: Cryptocurrency prices are subject to high market risk and price volatility. You should understand the associated risks and only invest in products with which you are familiar. You should carefully consider your investment experience, financial situation, investment objectives, risk tolerance and consult your independent financial advisor before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment may go down as well as up and you may not get back the amount invested. You are solely responsible for your investment decisions. Binance is not responsible for any of your possible losses. For more information, see our Terms of Use and Risk Notice.