HODL is an acronym that translates to ‘Hold On for Dear Life’. It has become an important concept for crypto enthusiasts who invest with a long-term approach. Someone misspelt the word “hold” in an early Bitcoin forum, and users mistook it for an acronym meaning “hold on for dear life.” It has now become a meme, but it also serves as an acronym for long-term investments made in the hopes of greater rewards.
In the crypto market, it is wise to hold on to your coins if you want to maximise your profits. Moreover, holding your investment for longer makes your portfolio stronger and more resilient to market fluctuations.
Buy-and-hold investors like to keep their assets for a long time to benefit from long-term value growth. However, traders are far more active in transactions and gain profits by buying low and selling high. Cryptocurrencies present fantastic opportunities for traders to build up long and short positions often because of their extremely volatile nature.
If your plan is to HODL, it would be advisable to hold on to the new coins. The investment cost would be low and the longer it stays in your portfolio, the more are your chances of earning profits.
Here are two coins that you must check out which are fresh and ready to be HODL on to.
ApeCoin (APE) was released as a cryptocurrency earlier this year and it has already made its way to the list of top 50 cryptocurrencies. Apart from its set 1 billion token supply, ApeCoin has made headlines due to its initial classification as a meme coin. Despite the price volatility, it has established itself as a utility coin and has demonstrated its legitimacy among analysts.
ApeCoin’s story has piqued the imagination of cryptocurrency enthusiasts as well. The token’s popularity stems from its affiliation with the NFT collection of the Bored Ape Yacht Club. The very famous NFT collections BAYC and MAYC were officially airdropped with ApeCoin tokens.
APE promises to act as a decentralised protocol layer that will guide crypto investors to a safe and convenient metaverse. It is available on the main cryptocurrency exchanges such as FTX, Binance, and Coinbase. ApeCoin token holders are allowed to participate in the ApeCoin DAO and the DAO offers shared and open finance without the need for centralised middlemen.
With such attractive features and proven timely success in the market, ApeCoin (APE) could be a good token to invest in and hold on to for a long time!
CashFi (CFI) is another new token that seems ideal for HODLing. With its ERC20 token CFI, CashFi is a next-generation decentralised network. By exposing users to a variety of asset classes, such as liquid staking, NFTs, and synthetics, CashFi stimulates collaboration and interconnection. CashFi’s platform is built to bring the blockchain ecosystem together to provide services that are faster, more cost-effective, and scalable.
The CashFi ecosystem also enables a cross-chain NFT Marketplace. By monitoring their gas fees and providing interoperability, CashFi is promising to evolve as the next big investment plan for crypto investors. All the features of CashFi Network are painting CFI as a greener crypto alternative. Since it is currently available at a discounted price in its presale phase, it could be the perfect time to lock down your investments and HODL for big gains.
Given how the prices of big coins have skyrocketed in the past, it could pay large dividends in the future.
Find more information on CashFi here:
Keywords: CashFi, CFI, ApeCoin, APE, HODL, invest, cryptocurrency