How to HODL during the Bear market?
Bear market pulling you down? See how ELLIPAL is the solution you are looking for.
The cryptocurrency market has been going through a bear market for a long time since the start of 2018. After the big cryptocurrency boom from late 2017 to early 2018 many people have gotten themselves investing in cryptocurrency, whether it be buying some Bitcoin or buying a full mining set hoping to make profits.
Everything seems to be going well until the bear market hits, people has been stuck at the peak, unable to sell their coins, afraid of the huge lost. Many were forced to stop mining as costs overtake profits. It is truly a tough time for everyone involved in cryptocurrency.
When the bear market hits, there is not many things cryptocurrency investors can do except to HODL and believe the bull will visit again soon. During these times it is important for investors to keep their coins safe until the price surge. It is obvious that storing in exchanges and online wallet is not a safe choice. Not only hackers can easily gain access to your funds, you will never know what your exchange will do with your coins during a tough market period like this. Storing in cold storage is probably the best option.
Even though it is best to store in cold storage, normal cold storage is not very easy to use. If you are a person who have invested a lot and hold many different coins, it should be very time consuming for you to turn them all to cold storage and it would not be efficient at all if you want to access them when the bull market hits. You might even miss the chance to sell at the best opportunity due to the time it will take you to get those coins out or you might just not be next to your cold storage at that time.
The best way to store your cryptocurrency during the bear market is to store it with the ELLIPAL hardware wallet. ELLIPAL is truly connection free and isolated from the network, it will keep your assets safe no matter what happens. The ELLIPAL also works with a mobile App instead of a PC. This allows you to easily access your coins anywhere and anytime. When using the ELLIPAL, you will never need to worry about your funds getting stolen or missing out on the highest price anymore!
For us personally, we all believe in cryptocurrency and we think the bear market is the best time to stock up (but only buy what you can afford!). You can trust our wallet to keep your coins safe and it will not disappoint you when you need to catch that highest price, thanks to our mobile App support and news/price update. Let ELLIPAL be your trusty pal during the bear market.