What is HODL?
We know how important it is to our crypto community to be up-to-date and aware of all news from the crypto space so we’ve decided to start a series of articles explaining certain crypto terms. You probably came across a lot of abbreviations and slang words when joining a chat or Reddit thread, so we are kicking off our series of the “Crypto Dictionary” with the first article on HODL. But what is HODL?
HODL is an intentional misspelling of the word “hold”. First time HODL was used is back in 2013 on a BitcoinTalk thread named “I AM HODLING”. What was originally a typo, HODL, has now popularly earned the status of a humorous backronym: “HODL” – “Hold on for dear life”. Within an hour from posting it, HODL made its way into memes: movies like “300” and “Braveheart” were initial source material, but now there is a plethora of HODL memes floating around the internet.
Across the crypto community, this word is used in chats and threads. It refers to a trading strategy where someone buys and holds a cryptocurrency, with that person commonly referred to as HODLER. Hodling evolved into an approach to cryptocurrency investing that avoids trading based on short-term price actions. New crypto users might be tempted to enter the market and lose money instead of holding to their crypto investment and give it a chance to develop.
True crypto believers see HODL as a guiding framework, there are enough followers across the crypto space that see cryptocurrencies as an alternative, if not a replacement, to fiat currencies. For a large part of the crypto community, the fiat exchange rate of cryptocurrencies is irrelevant since their credo is guided by the belief that cryptos are the basis of all future economic structures.
With all the hype digital currencies created, it makes more sense to HODL than not to. Bitcoin values surged at the end of last year and other cryptocurrencies like Ethereum are also experiencing a steady jump. But there are other tokens you can HODL not just for their future value, but for their utility. Such a token is PumaPay which will be used as a means of payment for various purposes and services, online and offline. You can physically HODL it on the PumaPay crypto wallet, which is designed to support PMA tokens as well as Bitcoin and other altcoins.
If you really believe in a revolution, then join it and experience the practical side of cryptocurrencies. PumaPay’s idea is to fuse its digital currency with daily payments and the objective has been more than welcomed by the crypto community.
In the end, what will you do, HODL or not to HODL?