This is not financial advice

HODL: Hold on for dear life

Choosing your strategy is important. It's easy to get carried away and waiting either too long or selling out too early. There are different strategies to choose from, and the perhaps smartest one in the early days of cryptocurrencies, is to HODL. Of course, as long as you are confident you invested in a good project with long term value.

You have now bought Bitcoin, Ethereum or Litecoin, and its time to monitor your gains or losses. It's not unusual to check your blockfolio and coinmarketcap all the time, like a maniac. It's recommended that you register every buy and sell order in an application on your mobile. I'm using Delta. You will not be needing Delta until you buy cryptocurrencies outside of Coinbase, but it may be smart to learn how to use it for later.

Hopefully you have bought something you believe in, after you have researched it. Therefor you should not get emotional if and when the price spikes either up or down. This is normal. Once you have invested in a project you like, try and hold it unless the project is shutting down.

Investing: Long term

Trading: Short term