HODL or Trade in the new year? My Cryptos for 2018
XRP, ADA, XLM, and SNT are what I'm currently holding onto and that won't be changing any time soon. Due to the updates to U.S. Tax laws I see it as more beneficial, and simply less of a pain in the but to do so rather than day trading as I had been in 2017.
That being said I do plan to put more money into crypto this year with a portion of money I will be saving due to not needing to pay monthly payments on a large amount of debt anymore. I plan to get a bit of Golem, Electroneum and Siacoin to hold onto as well.
Siacoin specifically I like due to the project attached to it. A decentralized cloud storage, there's a lot of possibility there and I'm actually going to be building a computer specifically for renting the hard drive space. Granted I'll have to have that computer up and running always, I think it will be worth it in the long run. I feel Sia could go up as people become more and more distrusting of large companies holding their data in the coming years.
I may write a bit about each coin I'm going to be holding and in detail in the next month, as going forward my investments will be in projects mostly that I believe in and not purely for profit.
I know I may miss out on some gains due to not trading, but I think not trading will also allow me to not miss out on gains with the crypto I am holding. So I'd like to know will you be HODLing or trading in 2018?
@dsantrat I really hope there is a change of heart due to recent tax laws. We say that we want to be more business friendly, but being unfriendly to crypto is a plain old moneygrab. Good luck in 2018!
I do hope that recent tax law changes help things not only stabilize, but that people start actually looking into the projects tied to the crypto, and how some of them could actually be used for daily transactions ect.