Hodling has made people rich. And it has created whales, people with a crazy amount of a certain valuable cryptocurrency.
That said, it's essential to know exactly which coin is the best to hodl, and which one is the best to trade.
In this post, I will tell you the 5 major coins I'm holding, and why I'm holding them.
I'll also tell you how many coins I currently trade, and why I trade them.(I have found some success trading cryptocurrencies, so I think I am legible to share what I know about trading.)
COINS I HOLD
I currently have 5 coins I'm holding in a cold wallet. I hold $1000 of each, and I increment that amount by $50 every month.(This $50 comes from my trading profits, so I'm basically getting free money)
Here are the coins I hold:
- Basic Attention Token(BAT)
- Bitcoin (BTC)
- Bonus coin: Tether Gold(XAUt)
(I currently started holding Tether gold about a month ago. I have about 0.3BTC worth of it, and since I can't increment it by $50(the least you can buy is $500 I think), I decided to increment it with 0.1BTC a year. I hold Tether Gold as a hedge against dying cryptocurrency markets(I used to hold DAI for this reason, but I traded my whole $2000 stash for Bitcoin a while back)
WHY DO I HOLD THESE COINS?
REASONS I HOLD BAT
- The good things are yet to come: I've been saying it since the start of the year. BAT will moon this year, and I definitely want to be a part of that. BAT has expanded its reach, and that expansion was met with a new all time high of the year at $0.33. They also introduced image ads and are working on passive mining using your CPU. That will also be released before the end of this year, and I have high hopes for the price as well.
- I can increment it for free using Publish0x: I love the fact that Publish0x gives me the opportunity to earn BAT tokens every week. I withdraw these tokens every week(usually 10-15 tokens, but I'm not complaining) and add them to my cold storage, saving them for the future. This is the literal definition of free money making you rich.
- It plans on changing the advertising space: Anything that plans to change something is usually met with a ton of resistance. And BAT is no exception. The price swings like crazy day by day, and while this is s good thing for traders, it's an even better thing for longer term investors, as they get the overall value at the end of the year.
REASONS I HOLD BITCOIN
- It's the biggest cryptocurrency by market cap, and it isn't going away soon. No explanation needed here.
- It's essential for me to own Bitcoin, because it makes up a lot of the pairs I trade. Again, no explanation required.
- The price will balloon after the halving event slated to take place in May. Once again, no explanation required.
REASONS I HOLD TEZOS
- It compounds upon itself: This is more or less the only reason I hold Tezos. Tezos has the ability to compound upon itself. What this means is that when you stake your Tezos coins, they are released into the Blockchain and used to perform tasks there. You get a percentage reward for staking your coins, and this reward is paid everyday. The great part about this is that, since the reward is paid everyday, the amount you stake increases everyday. This leads to your interest earning you interest that earns you interest. And the chain continues. I currently have $1000 worth of Tezos staked, and I hope to see $1500 by the end of the year.
REASONS I HOLD CARDANO
- I explained it in great detail on my post here.
REASONS I HOLD RIPPLE
- Its utility is amazing: The fact that I could potentially move millions of dollars in a few seconds at the price of a cup of coffee is amazing. It completely wants to revolutionalise money, and it is on a great path doing that.
- Ripple is signing some good deals this year: Major financial companies are seeing the utility of Ripple, and are becoming affiliated with them. This will surely drive up the price
Thanks for reading!