Word of Advice to Those HODLing - Don't Panic!

Word of Advice to Those HODLing - Don't Panic!

By HBKStyles | Passive Crypto Income | 29 Feb 2020

With the global markets all pretty much plummeting now due to the Coronavirus and its affect on supply chain, tourism, and so on, it's important to keep a level head if you're an investor. This applies not only to those investing in traditional stocks, but also to those investing in crypto. Here are some quick tips to get you through it:

1. Don't check the prices of your crypto coins and/or stocks every single second of the day. It'll only dishearten you and stress you out.

2. Don't make any emotional decisions. Unless you're buying on margin, you haven't lost any money yet until you sell, right? Just HODL.

3. Remember that the prices may be down, but it's not personal. It's the OVERALL markets in the macro sense that are down, not just your specific coin/stock.

4. One positive of a down market is that you can buy more at a cheaper price. This is why it's always good to have some cash at hand. No one gets rich buying at the top right? So, if you have some spare cash and don't need it for day-to-day living expenses, use this time to lower your cost per coin and/or cost per stock. REMEMBER, however, that all investing comes with risk, so please don't invest more than you're comfortable losing, and only invest once you've done your due diligence.

5. If you own crypto, why not park it in an interest-bearing account? If you're going to HODL, earning regular interest on your existing crypto holdings, whether it's Bitcoin, Litecoin, XRP, or another coin, will take the sting off of seeing the prices going down. For example, Celsius Network offers users interest on most of the major crypto coins, and all you have to do is to make a free deposit once you're signed up! Getting 7.25% interest paid out weekly on all of your Zcash holdings while the market is down will help you sleep better at night, trust me!

Good luck everyone! 

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