I sold the altcoins and invested in Bitcoin"

Lanatsa

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Quote from: Altryist on July 23, 2023, 01:30:35 PM

Quote from: Mauser on July 22, 2023, 11:27:05 AM

Quote from: Out of mind on July 05, 2023, 01:31:10 AM

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Taking profits in the Alt coin market is not a bad idea and like you I also like to add any profits to my bitcoin holding. For me the main investment is still bitcoin and I evaluate any other crypto currencies in relation to the change of the bitcoin price. In my opinion alt coins are more risky than bitcoins and should therefore offer us a higher return. To avoid bigger losses it's good to take profits and grow our bitcoin investment. Why not use any new money that you want to invest in cryptos to buy new altcoins? Like that you can rebuild a diversified portfolio while having the majority of your money in bitcoins. The halving next year in bitcoins is going to bring new positive incentives and should push the price higher. As long as you are not switching back to fiat money you are doing nothing wrong.

Initially, altcoins were bought for some purpose and for some reason, it is obvious that the OP saw a perspective in them. It is difficult to say at the moment whether this decision is correct, since some altcoins are indeed able to show significantly higher growth than bitcoin. Yes, he can buy altcoins again with free money, but if the OP has now decided in favor of bitcoin, then it seems that the strategy will be to buy bitcoin.

Decisions made whether right or wrong because it would really be only known if they would neither able to make profit or losses and this is why its not really that something that right if we do make out judgment on

whatever other people been doing on their decisions on their investment.If they have decided on touching altcoins to accumulate Bitcoin on selling out those coins then its not a bad idea on which we cant really be able to blame out people on doing such thing because nothing beats out Bitcoin when it comes to potential but there are some top altcoins which are that worth on investing into. This is why decisions made will
completely be random on each person because some would be sticking on alts and forgetting bitcoin and some would really be just focusing on Bitcoin alone and dont tend to touch up
altcoins because they arent really that confident on doing so.

Altryist

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Quote from: Mauser on July 22, 2023, 11:27:05 AM

Quote from: Out of mind on July 05, 2023, 01:31:10 AM

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Taking profits in the Alt coin market is not a bad idea and like you I also like to add any profits to my bitcoin holding. For me the main investment is still bitcoin and I evaluate any other crypto currencies in relation to the change of the bitcoin price. In my opinion alt coins are more risky than bitcoins and should therefore offer us a higher return. To avoid bigger losses it's good to take profits and grow our bitcoin investment. Why not use any new money that you want to invest in cryptos to buy new altcoins? Like that you can rebuild a diversified portfolio while having the majority of your money in bitcoins. The halving next year in bitcoins is going to bring new positive incentives and should push the price higher. As long as you are not switching back to fiat money you are doing nothing wrong.

Initially, altcoins were bought for some purpose and for some reason, it is obvious that the OP saw a perspective in them. It is difficult to say at the moment whether this decision is correct, since some altcoins are indeed able to show significantly higher growth than bitcoin. Yes, he can buy altcoins again with free money, but if the OP has now decided in favor of bitcoin, then it seems that the strategy will be to buy bitcoin.

superman184

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Quote from: cryptodude on July 23, 2023, 12:35:27 PM

I'd say it's definitely a job well done by you. Altcoins can quickly make you greedy and destroy your wealth. Must invest in Bitcoin for the long term. Bitcoin will give you good things that you can't even imagine.

What makes someone greedy is not because someone has used altcoins, but because of their unwise attitude in using altcoins and hoping for high profits so they forget about the level of risk that exists in altcoins. Likewise with the good things that everyone can get, which does not mean they come from Bitcoin, but from the way someone treats and uses Bitcoin wisely.

Because if someone only has the initiative to sell Bitcoin when they see bearish in the market, I don't think anyone will get the benefits or good things that you say. The two things you said happened based on the behavior of the users themselves not from altcoins or Bitcoin, because altcoins and Bitcoin are just cryptocurrencies that everyone can own and use for the things they want, such as in the example of investing and also trading.

Mate2237

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Which of the altcoins did you sell to buy bitcoin. Yes bitcoin is the king among all the cryptocurrencies and it is good to invest in bitcoin but investing in other cryptocurrencies is also good so that you can know their differences. Upon all the volatility of Bitcoin it is still the best. You will only have peace when you have invested in bitcoin, because altcoins can not be trusted and if you are investing in altcoins, invest with small amount of money, so that if in case the coin collapsed it will not affect you much.

cryptodude

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I'd say it's definitely a job well done by you. Altcoins can quickly make you greedy and destroy your wealth. Must invest in Bitcoin for the long term. Bitcoin will give you good things that you can't even imagine.

nullama

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Quote from: Mauser on July 22, 2023, 11:27:05 AM

~snip~
Taking profits in the Alt coin market is not a bad idea and like you I also like to add any profits to my bitcoin holding. For me the main investment is still bitcoin and I evaluate any other crypto currencies in relation to the change of the bitcoin price. In my opinion alt coins are more risky than bitcoins and should therefore offer us a higher return. To avoid bigger losses it's good to take profits and grow our bitcoin investment. Why not use any new money that you want to invest in cryptos to buy new altcoins? Like that you can rebuild a diversified portfolio while having the majority of your money in bitcoins. The halving next year in bitcoins is going to bring new positive incentives and should push the price higher. As long as you are not switching back to fiat money you are doing nothing wrong.

Yeah, but that kinds reflects the point that altcoins is similar to a casino. Yeah, it's great if you win in the roulette and put that extra money into Bitcoin. But the more probable result is that you're going to lose your money.

Only the people that control the altcoins and casinos are the ones that most probably will get a profit. That's the beauty of Bitcoin, there's no centralized person or entity that runs it.

Mauser

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Quote from: Out of mind on July 05, 2023, 01:31:10 AM

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Taking profits in the Alt coin market is not a bad idea and like you I also like to add any profits to my bitcoin holding. For me the main investment is still bitcoin and I evaluate any other crypto currencies in relation to the change of the bitcoin price. In my opinion alt coins are more risky than bitcoins and should therefore offer us a higher return. To avoid bigger losses it's good to take profits and grow our bitcoin investment. Why not use any new money that you want to invest in cryptos to buy new altcoins? Like that you can rebuild a diversified portfolio while having the majority of your money in bitcoins. The halving next year in bitcoins is going to bring new positive incentives and should push the price higher. As long as you are not switching back to fiat money you are doing nothing wrong.

serjent05

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Quote from: nullama on July 20, 2023, 12:12:46 PM

Quote from: Ahli38 on July 20, 2023, 09:57:28 AM

~snip~
But basically the majority of us all would still like to be involved in altcoins. Well we love Bitcoin and invest long term in bitcoin. But there's nothing wrong with us having special funds for us to make capital in trading altcoins.

I personally engage in daily trading which of course is mostly in altcoins. Altcoins have a high risk but also worth the benefits offered. but one thing to remember is that altcoins are not for the long term but only for short and medium term trading. only buy when there is an issue there will be an event. and sell it when the event starts (peak hype). More analysis needs to be done if you want to get into altcoins. because we really have to pay attention to market sentiment and altcoin fundamentals. and technical analysis we also have to master firmly for decision making.

But remember to play in Altcoins it's better to only use a small portion of our capital. And the funds used must also be cold money. I personally also keep limiting the amount of capital I use in trading altcoins. because most of my assets in crypto are stored in long term investment in bitcoin.

You can count me out of that "majority".

altcoins are just gambling shitcoins.

Everyone can spend their money however they want though, so go ahead and buy some amazing altcoins.

I believe I am one of those majority that believes that there is profit and loses in shitcoins. Grin

. I know Bitcoin is the best choice among the cryptocurrency but there are lots of profits that can still be made from altcoins if we are knowledgeable enough on what to do but there is no denying that there is tantamount of risk to be faced when dealing with altcoins.

Quote from: Kelvinid on July 20, 2023, 05:34:34 PM

Quote from: yohananaomi on July 20, 2023, 04:47:02 PM

You should also know that investing in bitcoin must be with large enough funds, in order to generate maximum profits, because the price of bitcoin is high enough, if you have small funds it is better to invest in altcoins only. you've done that, I appreciate what you did but it's just my suggestion, now what you need to do is continue to be able to add funds to make further purchases, in order to have the maximum amount, because the upgrade time is still quite long.

There are no such rules in crypto investment that if you have only small capital you will invest in altcoins and if you have huge capital you will go for Bitcoin. I don't know where you get that. Because you can buy Bitcoin using our small capital and besides, it was not only it matters on the capital on how much you possibly earn but also on how you manage it and it was still the same from investing altcoins.

Probably he is comparing buying a whole of coins of Bitcoin and a whole of coins of certain cheap altcoins. If that is the case, it is indeed needed a huge amount of money to buy Bitcoin but, we all know that Bitcoin can be bought in fraction, so it is wrong to believe that we need huge amount ofmoney to participate in Bitcoin trading. We can even buy $10 worth of BTC and start our trading or investment journey.

Quote from: Kelvinid on July 20, 2023, 05:34:34 PM

It was encouraged to buy Bitcoin no matte what you have because it was a reliable investment. If we aim for less risk, then this is the best choice.

Bitcoin is the best investment in the cryptocurrency industry because of its high liquidity and merchant adoptability.

Kelvinid

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Quote from: yohananaomi on July 20, 2023, 04:47:02 PM

You should also know that investing in bitcoin must be with large enough funds, in order to generate maximum profits, because the price of bitcoin is high enough, if you have small funds it is better to invest in altcoins only. you've done that, I appreciate what you did but it's just my suggestion, now what you need to do is continue to be able to add funds to make further purchases, in order to have the maximum amount, because the upgrade time is still quite long.

There are no such rules in crypto investment that if you have only small capital you will invest in altcoins and if you have huge capital you will go for Bitcoin. I don't know where you get that. Because you can buy Bitcoin using our small capital and besides, it was not only it matters on the capital on how much you possibly earn but also on how you manage it and it was still the same from investing altcoins.

It was encouraged to buy Bitcoin no matte what you have because it was a reliable investment. If we aim for less risk, then this is the best choice.

yohananaomi

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of course everyone really hopes to be able to invest in bitcoin and you have tried to do that, but you are selling altcoins to be able to get bitcoins where actually the altcoins you are selling are not necessarily not as good as bitcoin, it must be remembered that there are altcoins that are also capable of providing good profits lure.

You should also know that investing in bitcoin must be with large enough funds, in order to generate maximum profits, because the price of bitcoin is high enough, if you have small funds it is better to invest in altcoins only. you've done that, I appreciate what you did but it's just my suggestion, now what you need to do is continue to be able to add funds to make further purchases, in order to have the maximum amount, because the upgrade time is still quite long.

nullama

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Quote from: Ahli38 on July 20, 2023, 09:57:28 AM

~snip~
But basically the majority of us all would still like to be involved in altcoins. Well we love Bitcoin and invest long term in bitcoin. But there's nothing wrong with us having special funds for us to make capital in trading altcoins.

I personally engage in daily trading which of course is mostly in altcoins. Altcoins have a high risk but also worth the benefits offered. but one thing to remember is that altcoins are not for the long term but only for short and medium term trading. only buy when there is an issue there will be an event. and sell it when the event starts (peak hype). More analysis needs to be done if you want to get into altcoins. because we really have to pay attention to market sentiment and altcoin fundamentals. and technical analysis we also have to master firmly for decision making.

But remember to play in Altcoins it's better to only use a small portion of our capital. And the funds used must also be cold money. I personally also keep limiting the amount of capital I use in trading altcoins. because most of my assets in crypto are stored in long term investment in bitcoin.

You can count me out of that "majority".

altcoins are just gambling shitcoins.

Everyone can spend their money however they want though, so go ahead and buy some amazing altcoins.

puloweh555

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Quote from: Out of mind on July 05, 2023, 01:31:10 AM

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Your decision to sell Altcoin and buy Bitcoin is correct, because Bitcoin is a crypto asset with the highest value, is popular, and the fundamentals are clear to show long-term profits, of course, very promising. But Altcoins also give us a lot of advantages as long as we are good at analyzing the fundamentals, of course, accompanied by extensive knowledge about altcoins. but to invest safely the right choice is bitcoin.

Quote

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?[/size]

Many have suggested recommendations for safe wallets to store bitcoins. You have to research for yourself which one is right for you. Then Wallet is safe but there is still something even safer for storing bitcoins for a long time, only thing to remember is don't store bitcoins on exchanges.

Ahli38

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Quote from: nullama on July 19, 2023, 04:38:42 AM

Quote from: MinoRaiola on July 19, 2023, 12:53:57 AM

~snip~
Owning Bitcoin is always good, so you decided that correctly. Selling altcoins for it is okay, but if you want to play with higher gains or losses, then you should buy and sell altcoins. This is in most cases but with a lot of luck, you can also play at the roulette table something. On the other way, you will be very happy if you have bought a coin that has made a x10 and more. With bitcoin it will be less in the comparable time, but a more security not to lose everything, and with bitcoin you can be sure that it is denzentral.

The thing is that altcoins are basically centralized companies with no regulations or protections to the owners.

You can easily lose 100% of your money in altcoins, because they really aren't the same as Bitcoin.

But yeah, as you mentioned, it's a bit of a gamble, like going to the casino. Although the casino always wins. Keep that in mind.

But basically the majority of us all would still like to be involved in altcoins. Well we love Bitcoin and invest long term in bitcoin. But there's nothing wrong with us having special funds for us to make capital in trading altcoins.

I personally engage in daily trading which of course is mostly in altcoins. Altcoins have a high risk but also worth the benefits offered. but one thing to remember is that altcoins are not for the long term but only for short and medium term trading. only buy when there is an issue there will be an event. and sell it when the event starts (peak hype). More analysis needs to be done if you want to get into altcoins. because we really have to pay attention to market sentiment and altcoin fundamentals. and technical analysis we also have to master firmly for decision making.

But remember to play in Altcoins it's better to only use a small portion of our capital. And the funds used must also be cold money. I personally also keep limiting the amount of capital I use in trading altcoins. because most of my assets in crypto are stored in long term investment in bitcoin.

Kryptowerk

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Quote from: Out of mind on July 05, 2023, 01:31:10 AM

I have been involved with Cryptocurrencies for the past almost 1 year. It's only been a few months since I joined the BitcoinTalk forum. I spend most of my time trading which I haven't spent much time on this forum. But I came to the Bitcointalk forum and observed various discussions about Bitcoin investment. Finally after much thought I analyzed Bitcoin and took the advice of a fellow knowledgeable investor. He gave me specific advice on the downsides of Bitcoin and market volatility.
After full consideration I sold all the wallets I had Altcoins invested in. and with the amount of funds I made from that, I bought bitcoins and kept them in the trust wallet.

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

In general, good idea. Most altcoins will go to (almost) zero eventually, as they lack any additional value over the big players - and it's hard to guess when they'll go to zero.
The altcoin market has been in a big hole for quite a while, so it could be debateable if it would have been a better idea to wait for the next altcoin bullrun and convert to BTC then. That said, you never know if some of these altcoins will ever recover and trying to time the market is what loses money for most.

Recarding storing your coins. Please check the wallet section of bitcointalk. https://bitcointalk.org/index.php?board=37.0
And make sure to use an open-source and community-verified wallet instead of trust wallet, especially for storing Bitcoin.
Also, buying a hardwarewallet (Trezor or similar, I don't recommend Ledger) is recommended long term for most users.

You can also check your wallet's security via this website: https://walletscrutiny.com/

Hypnosis00

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Quote from: Ricardo11 on July 16, 2023, 08:27:00 AM

You made a very good decision, that you invested in Bitcoin by selling alt coins. Because Bitcoin will give us higher returns. We won't get as much return from altcoins now, as much as Bitcoin will give us. Because the Bitcoin bull market will start in a few days. And that will will reach the value of Bitcoin by around 100k. Many Bitcoin experts think that the price of Bitcoin can even reach 120k. In this you will see that you can achieve the biggest success of your life.

Talking about high returns, altcoins do as well. But if we talk about less risk and future assurance, Bitcoin offers more which is why it was recommended for long-term investment. Yes, many experts are saying it reaches high at $100k and more and it was possible but we never know when it comes. But for now, I was not thinking that amount, reaching $80k is a great price for Bitcoin already and another ATH.

So yes, what OP did is right - but I still suggest not just focusing on Bitcoin alone as it was better to share with potential altcoins like ETH and BNB.

axxo

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Quote from: Out of mind on July 05, 2023, 01:31:10 AM

I have been involved with Cryptocurrencies for the past almost 1 year. It's only been a few months since I joined the BitcoinTalk forum. I spend most of my time trading which I haven't spent much time on this forum. But I came to the Bitcointalk forum and observed various discussions about Bitcoin investment. Finally after much thought I analyzed Bitcoin and took the advice of a fellow knowledgeable investor. He gave me specific advice on the downsides of Bitcoin and market volatility.
After full consideration I sold all the wallets I had Altcoins invested in. and with the amount of funds I made from that, I bought bitcoins and kept them in the trust wallet.

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

No doubt that bitcoin is the best investment, selling alt coins and convert it to Bitcoin that is a good strategy that you had done. Your observation and thorough research had build your confidence to covert your altcoins into bitcoin. Bitcoin is good for your future just keep on holding it and for sure you will generate a good returns in the future specially if you have a good amount of investment. The higher the investment the higher rate of return and make sure that the amount you put in is the amount that you can afford to loose. It is better to use a hard wallet because trust wallet can be hacked as well.

AnonBitCoiner

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You sold your altcoins to buy bitcoin so this act refers that you have stronger believe on bitcoin and everyone hopes that it will rise very soon so as the price is currently more than 31k$ so there is an opportunity to be more worthy in coming months.

Bitcoin holders have much benefit this time but in my opinion no one will be in desire to sell now because they will be in patience to face more enhancement in price. Try to not share your data with others that is secret because of safety of your bitcoin and your money.

Flexystar

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You are always better than being late in the Bitcoin Investment. It’s really good that you have switched from the Altcoins to Bitcoin. I would even recommend to keep buying more if you can afford any further investment as the whole world brace themselves for the Bitcoin Halving process. Don’t forget we are going to see more repeatative up and down cycles than the previous year because it’s gonna be complex market ahead. However, behold there is amazing pump that’s on our way once halving starts and miner reward goes down. To compensate the halved reward mostly price aggregates a lot. This is proven with previous halving processes. Hope so you will hang tight and don’t forget you have entered the market at just right time.

Agbe

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Op your story is not clear for me. Bitcoin was first coin that came to this world and if anyone is interested in Cryptocurrency bitcoin would've been the first to invest and you leave bitcoin and invested in altcoins. Well that was your choice by then. And the worse part is that you were investing in altcoins and you don't know bitcoin until a friend of his adviced you and explained bitcoin to you. What an irony expression. But for your question, it is good for investing in bitcoin.

legendbtc

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Newcomers to this market share the same mindset that simply investing in Bitcoin will be a safer investment than altcoins. But over time, they forget their original goal because investing in bitcoin does not bring them back as fast and big as they thought. They will convert their Bitcoins into altcoins and lose money as a result. I used to be one of them too, but then I realized my mistake and sold my altcoin to buy back Bitcoin.
Currently, I still invest in some altcoins but don't put too much, only a small part, and if there is a loss, it won't affect my portfolio too much. Focusing mainly on bitcoin is always the perfect choice.

Topic: I sold the altcoins and invested in Bitcoin" (Read 1192 times)