Thoughts on Crypto Gains and HODLing
My thoughts on gains in Crypto and HODLing
I've been seeing a lot of posts on different message boards where people mention the gains they've made. For example, someone posts their Blockfolio/Delta overview, showing some coin they've bought a few thousand of at 0.01 USD and now it's 1.00 USD. Seems like this person has just 100x'ed their money right?
Well, no. They've bought a few thousand of this coin and they still have the same amount of said coin. Friendly reminder that you haven't made any gains unless you convert to BTC or fiat! In other words, as long as you are HODLing, you cannot claim to have made any gains. You're setting yourself up for disappointment because you'll be checking Blockfolio continuously throughout the day (everyone does), but you won't be able to sell at the top. Therefore, you'll never be able to fully realize those virtual gains.
As always, feel very free to reply, upvote, follow and/or resteem! :)
Strongly agreed, very important to convert to BTC or fiat, and pay off your debts first!
@steem-untalented
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