HODL is the word HOLD with a typo. In other words, "to hold" – the simplest strategy when investing in cryptocurrency. Its essence lies in buying for the long term instead of constant asset trading.

Considering that both Bitcoin and all leading altcoins have increased in value many times since their launch, this strategy proves to be both unpretentious and profitable. It requires no trading skills whatsoever, making it extremely attractive to those investors who know little about cryptocurrency and trading but wish to achieve significant profits.

HODL is written instead of HOLD due to an incident that happened a long time ago. In 2013, a post appeared on one of the cryptocurrency-focused forums where a participant shared their intention to hold onto Bitcoin despite its recent price drop. They stated that they were a poor trader and couldn't determine where the price peaks and troughs would be but were confident that Bitcoin would continue to grow. They also mentioned that whiskey was helping them cope with panic – and wrote "hodling" instead of "holding."

The post amused other participants: it was clearly written by someone intoxicated and contained many errors. Moreover, the author admitted themselves that they were bad at trading. The typo caught on, and thus the strategy "hold on a dear life" emerged, meaning "to hold on for dear life."

However, the value of cryptocurrency can drop dozens of times and then rise again, and a skilled trader who buys and sells can potentially earn much more than those who simply held onto it during this time. Additionally, not all cryptocurrencies appreciate over the years: some coins fail to carve out their niche, especially when a similar but more advanced technology emerges – in such cases, they may lose value permanently and never recover.