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Rachel Welch

10 November 2022 161 Read Crypto

What is the Meaning of HODL in Crypto?

The term "HODL" stands for "hold on to your digital assets." This strategy is appropriate when the market is on a bull run. However, this strategy will not benefit you if the price of your crypto falls by a large amount. The reason for this is that a HODLer needs time to realize a profit. Moreover, he or she will miss out on the opportunity to take advantage of the short-term price fluctuations in the crypto market.

In general, HODLers use secure wallets to hold their cryptocurrencies. This is not the same as staking, which entails using a hot wallet that is not under your control. This poses a security risk. In addition, HODLers will not increase their number of coins. In contrast, staking will increase your coin's value over time.