Topic: Best crypto savings - page 2. (Read 210 times)

Market cap is just a product of the total circulating supply multiplied by the price. I don't see why people are using market cap as a basis per se.
I mean lower altcoin just means fewer people are buying the token, and vice versa. Bitcoin on the other hand has many buyers compare to all of the altcoins, so it's pretty obvious that it has a larger market cap.

This is the problem with some altcoins out there.

Even those top altcoins have the same use case like in the case of Ethereum, Cosmos, Cardano, Polygon, Binance where they have a smart contract feature where developers can create their own application thru the blockchain of these projects. On the other hand, there are some altcoins out there that has no use case at all, or if there is, it wasn't beneficial to the investors, and to the people. It's just there for no reason at all, or they will just scam people.

Well, since it isn't regulated at all, scam altcoins are very common already in the crypto space.
This is the problem, and I don't see any solution to it aside from not investing into new projects. This is also the reason why I'm focusing more on the top altcoins currently. I don't want to put my money into new projects, projects that I know is a scam etc.

Investing into Bitcoin would lessen the risk of the investor so... yeah I think as a beginner it would be better if they will focus more on Bitcoin than other altcoins out there.

Who said that altcoins aren't welcome here? You? If altcoin isn't welcome here, then we shouldn't seeing new altcoins here already.

Take note that Ethereum first launched here as well, and it became popular though I know that this forum isn't the place where they advertised their project, I'm pretty sure that the forum helped the project in terms of exposure to the public. I know that there are some altcoins that became scam projects, but to say that altcoins aren't welcome here in the forum just because it's Bitcointalk? It's just an absurd thing to say TBH.

You can make upto 400% from altcoins but the chances are very low and the risk involved is far higher than the gain you stand to earn at the end, what is the essence of what you're not sure of it's outcome in the nearest future, investors now decided to avoid this kind of risk and remain committed to bitcoin because of the increasing numbers of shitcoins in cryptocurrency, if you want to avoid fear and risk of loosing your entire asset of investment, then avoid alts and choose bitcoin for your investment, you can make more than 800% over time with bitcoin if you hodl.


These are part of what we are expected to research well about before making an investment on any altcoins, moreover it's more better to avoid them if you know that you can't afford the risk of loosing your money on scam project which some of them later turned to be.

If you want to give an advice, it's better if you not only mention some part and forget with the other part that's important.

Investing in Bitcoin is obviously safe in the long run and the price is always increasing after 4 years cycle. But the thing is, don't think after you but Bitcoin, your investment is 100% safe.

Leaving your coins on the centralized exchange or staking to earn interest is no longer safe, using a daily driver device which you connected to internet and clicking random link is no longer safe etc. You need to know how to safely hold and maintain your Bitcoin.

I would never advise investing in the projects you suggested, because completely centralized tokens like the one you mention from one CEX have some value only as long as their company operates stably, and we all know that if nothing else they are deep in the gray zone and under investigations around the world.

Also, another token switched to POS not so long ago, and now they boast that they are carbon neutral, unlike BTC, which uses POW, and at the same time, they cemented such centralization that one of the forum members concluded that they could carry out their entire operation with a couple of computers from someone's basement.

Besides, what does top 10 coins even mean? Put that token at 21 million max supply and it won't even be among the top 100 coins - cmc manipulation.

In any case, maybe he just want to be a bitcoin maximalist that's why he dump his altcoins in favor of our dear BTC.

To be fair though, we have our altcoin boards, so it is welcome here. What we don't like is the way majority of them are being used, as a pump and dump. And with that, many noobs lost their money and so it is frown upon my most senior members here.

But there are some solid coins in the top 10 that are good as a long term investments like Bitcoin. It could be Ethereum, BNB, ADA and others, in my opinion.

Are you really against altcoins or you wrote this to impress readers?

Because in Bitcointalk, altcoins are not welcome so you are trying to impress that you don't like altcoins. Altcoins are not all good but most of them are scam projects but if I have to discuss a fact that most of cryptocurrency investors and traders use their money for altcoins more than for Bitcoin.

They will think and say like Bitcoin is too expensive, price is too high already, I have to find some altcoins to invest.

There is practically no difference in those Altcoins most of them will actually present some differences in there white paper like those related to gaming and it’s like, but they all end up in the same which is not to be able to solve their claimed problems associated with bitcoin.


I can’t agree less because with almost 2000+ Alticoins only very few are Atleast worthy of been mentioned and even some of these ones are just days away from collapsing. The authenticity of a project was once placed on the reputation of the developers but this days Alticoin developers are just like social media influencers, some are actually used just to lure people into investing in the pump and dump projects.




I would say your 80% choice of bitcoin is actually a great one, although it is a personal decision I would even advice having a higher number than that or more or less treat the other 20% of the funds a gamble. Because even the top Alticoins are risky and even follow the same bitcoin trend. They increase in all most similar percentage as bitcoin, except on few occasions where the hype is high. But other than that the same gain most at times is the same. Many will say Alticoins have higher rate to increase but they should also consider that it comes down in same effect. So for cryptocurrency investment, bitcoin is the 100% save haven.

I joined crypto early last year with little knowledge. After I had loose some money to altcoin, I decided to go for some research and I observe it best to make 80% of ones crypto savings to be Bitcoin.

Why I against altcoin and prefer Bitcoin:
👉👉Lower popularity and smaller market cap: Altcoins have a smaller investment market compared to Bitcoin. Bitcoin has generally hovered around 40% of the global cryptocurrency market since May of 2021.

👉👉Less liquidity than Bitcoin: The altcoin market is characterized by fewer investors and less activity, resulting in thin liquidity.

👉👉Difficult to determine use cases: It is not always easy to distinguish between different altcoins and their respective use cases, making investment decisions even more complicated and confusing.

👉👉[/b]Many altcoins are scams or lost developer and community interest:[/b] There are several "dead" altcoins that ended up sinking investor dollars.

Reference: https://www.investopedia.com/terms/a/altcoin.asp

CONCLUSION
A good practice I will recommend for all expecially beginners is that they should invest mostly in Bitcoin as this is highly save for the future.