What Does Hodl Mean in Crypto?
Cryptocurrency, in particular, trading — is a separate ecosystem with its own terms and slang. If you are just starting to understand this, most likely, many words will be unfamiliar to you. For most cryptocurrency terms, you will not find explanations either in dictionaries, or even in Google, which also has a little such information. One of these terms is hodl. What does it mean? Let’s try to explain in simple words.
What is Hodl?
“Hodl” is translated in the same way as the word from which it supposedly originated, that is, from “hold” (in bitcoin slang – a long position), no matter what.
The word originated from a typo on the forum, back in the days when the Mt.Gox exchange was in its last days. This happened on December 8, 2013, when a user of the BitcoinTalk forum with the nickname GameKyuubi posted a post titled “I AM HODLING”. The message meant “to hold”. In this post, he admits to being under the influence of alcoholic intoxication and explains the behavior of BTC in the bear market.
The term with mixed letters was further developed and became an acronym. HODL (Hold On for Dear Life – keep as if life depends on it). This version does not deny that the word is a spelling corruption or a misspelling of the word “hold”. The word began to be used as a joke in Internet memes on the topic of bitcoin and cryptocurrencies:
The topic was developed. Here’s what members of the Reddit community think of it:
Since then, this term, along with a typo, has been picked up by the crypto community and has become very popular. They call it a kind of trading and investing strategy. Whenever a person in a conversation mentions that he or she is planning a hodl, it means that he believes in his coin and that it will bring him profit, if not today, then after some time.
In simple terms, hodl — is a typo that has become popular in the cryptocurrency community and denotes a long-term investment strategy.