Don't Just Hold, BUY!

in crypto •  2 years ago 

This is NOT investment advice. If you support something in the physical world, say a favorite creator or a favorite artist, you purchase what they are selling or offering. You bring awareness to it. The object can be shirts, a new mug, or a sweater with their logo. Just as you would support your favorite creator, support your favorite crypto project.

This isn't specific to any cryptocurrency... Dogecoin, Hive, Random Crypto Token # 123456, the point is if you believe in the project then support it by voting with your currency. Support it with US Dollars, the Euro, Yen, or other cryptos. Sometimes it's not about the money, or the return you get from it, sometimes it is.

If you're after some kind of return, you purchase when it is low and you sell a little bit when it's high. Even going through that framework, you're still supporting the currency while you're supporting yourself. I see all too many times that people will say to just hold your coins or to "HODL" (Hold On For Dear Life"), which is true. You should hold on to the coins to increase scarcity, however, you should also put a few dollars into your favorite currency to help drive up demand.

In the crypto world, just like the physical world, you support the producers of an object or service by increasing the demand for said object or service. To support your favorite projects is to support the demand for them.

If you believe in something put your money where your mouth is and collect your beanie babies, your crypto, your NFT, your artwork, your physical coins, and your collectibles. Have faith and confidence.

So if you support a crypto project, don't just hold the coins, but buy them.

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