Topic: I sold the altcoins and invested in Bitcoin" - page 2. (Read 1201 times)

Everyone is trying to mention that altcoins can give more profit, but not everyone says that not every altcoin is able to do this, there may be altcoins that will give even less profit than bitcoin and is it worth the risk and trying to find those very altcoins if you can just buy bitcoin.

It seems to me that the OP's decision to sell altcoins and buy bitcoin is a good decision. I would be interested to know the outcome of his decision in the bull market, whether it was correct, so that the OP writes us a summary of how the altcoins he sold were able to rise and how much profit bitcoin made, to find out if his decision was correct. Of course, this will not affect anything, but there is a certain interest in this, perhaps this would only confirm the confidence that this was the right decision.

Bitcoin is the best but the use of altcoins can be a good investment opportunity, the problem is that the holders should not completely rely on one altcoin but many so that when one betrays the others will be there. Altcoins have their advantages in crypto investment, some will earn very fast return when Bitcoin will be moving with a snail speed. Nothing is bad in having your Bitcoin and altcoins altogether, is a way to reduce your dependency on one, you may only let your bictoin to be more for the safety of the investment to be high.

Altcoins are not private and the decentralization of many of them is a lie and many of them can lead the owner to sudden bankruptcy when they decided to be seized for any reason. But not every of them, some are decentralized and offer you the privacy you desire.

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.

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.

Yes, it's op's decision
very good way of selling altcoins and the money from selling altcoins is used to buy bitcoins.

but in my opinion the profit from investing in altcoins is usually always greater than investing in btc because usually the altcoin when it goes up is always a high percentage, for example btc goes up 2% then altcoins can potentially go up to 3%.

but investing in btc is certainly safer than investing in altcoins.

There are also many potential altcoins on the market. They may increase in price x5 x10 in the future, the problem here you have to find out clearly to not get involved in scam projects.

That is a great decision to move your investment to bitcoin. Basically the most trusted crypto currency is bitcoin. Yes it is good for future that you sold your altcoins and invested in bitcoins. Bitcoins would definitely increase its price and most of the altcoins just follow the increase of bitcoin and sometimes it does not. Trust wallet is safe but make sure that you keep the private key in a secure place and never ever click any suspicious link that was sent on your email so that your private keys will not be compromise. Because once your account was hacked your investments in bitcoin will be gone forever. So better to keep it in a safe and trusted safe so that you will not lose it.

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.

of course the choice to invest in Bitcoin is a good choice. but success or not depends on how you manage your investment assets.

i think a trust wallet is safe, but it would be safer if you use a cold wallet or a hard wallet because it is definitely better if you want to keep your investment long term.

Bitcoin was and will always be the best choice if you want to invest in cryptocurrency. Other altcoins are centralized shit. You can not convince me that they are good. Not gonna happen. I got scammed multiple times in the past after investing in alts. Now all I care about is Bitcoin. So the thing that you have done is very wise in my opinion. Others may say that other alts do give you profits. But how much are there? Doing all your work to find the best one while it is sitting right in front of you. I can not choose anything other than Bitcoin. History is the best teacher. Learn from it and you will know.

Bro, don't make the same mistake I did. My trust wallet got hacked once and all my funds were gone. Every time I sent a transaction, it got redirected to some random wallet address from my wallet. So software wallets are always at risk. I will recommend using hardware wallets to keep your funds safe.

The majority of my asset allocation is also in Bitcoin, which accounts for two-thirds of my entire cold assets. My confidence in Bitcoin is on the rise, but for the future, I believe it's necessary to diversify my allocation to other assets. My ultimate plan would potentially involve allocating 50% to Bitcoin, 30% to stocks, and 20% to altcoins. Although this constitutes my disposable income, I still harbor great expectations for the crypto market's green movements, particularly in Bitcoin.

I have never sold anything to buy Bitcoin, stocks, or altcoins. Any funds I acquire for free will be immediately allocated to these three aforementioned areas. I still maintain the conviction that Bitcoin will have a positive impact on my financial situation for the next two years.

Keeping everything in one place is not a good idea. Your deposit should be divided into at least two parts if this is all your savings. It will be unpleasant if you lose access to the wallet, so take care of security in advance and create at least one more account on another wallet and transfer part of the funds there.

Although I would not dare to hold Altcoin in the long term (5-10 more years). But I personally do every day continue to trade in many altcoins. Apart from that, I also hold altcoins for medium-term investments, namely holding until the Bullish Market actually reaches its peak, which might be expected to occur after the bitcoin halving occurs. But we must always remember that holding Altcoins really should be scrutinized more carefully. even fundamental analysis really should continue to be used in altcoins. We must always stay up to date with the latest news and also continue to monitor the development of the altcoin project that we hold. Because if we miss important information, we may face big losses or not be able to get the maximum profit, such as project bankruptcy news, or other negative news that can bring down an altcoin project unexpectedly. or even positive news that can bring high price increases quickly. The point is playing in altcoins actually there are more things that must be continuously monitored if we want to keep minimizing the risks taken.

So I only like to get involved in altcoins for the short and medium term because well I also don't want to miss every moment that sometimes gives me multiple profits in a short time.
but for the long term I stay focused on bitcoin. In fact I routinely continue to put a few percent of my daily trading profits for accumulation Bitcoin with the DCA system.

Yes, bitcoin is safer than all the rest of the market, but that doesn't mean we should just focus on it and miss the opportunity with altcoins. I find it funny how many people criticize the older generation for investing only in gold and real estate and ignoring potential investments like bitcoin. They criticized the other two assets as outdated and no longer providing good returns. But they are constantly opposed to others investing in altcoins, which is nothing more than intentional bias and hostility.

Although investing in altcoins is very risky, its returns are many times greater than that of bitcoin. Therefore, those who like to take risks and are willing to take risks should not ignore the potential that altcoins offer.

Why not hold both for better profit optimization? While altcoins will be riskier than bitcoin, there's no denying that they can offer better returns than bitcoin. I also hold both instead of just focusing on bitcoin, I don't want to be a stubborn person who only believes in bitcoin and ignores thousands of other good opportunities with altcoins. Many bitcoin investors think that ETH is garbage, but so far, if anyone invests in it from the first days, the return it brings is not inferior to bitcoin.

Op said he has been involved with Bitcoin for a year, I think he has a good understanding of Bitcoin, that's why he decided to sell Altcoins and invest in Bitcoin. I personally think that investing in Altcoins is as risky as coins I wouldn't say Bitcoin is risk free Bitcoin is risky but a little bit safer than Alt coins. So I would say to the Op that since you are involved in bitcoin since you are fairly well invested you have to be very careful if you are going to be successful with it.

What about your belief, is bitcoin or altcoin good? Not entirely altcoins failed but more precisely bitcoin is the best in my opinion.
Why do you show your balance? Shouldn't things like this be more privacy?

I'm a trust wallet user but I've never stored long on these wallets and now rarely use them except Electrum as temporary storage, I have a hardware wallet and it's the best wallet for me to store long term assets.

Well having both is good enough. As long as we can get into altcoins that actually have pretty good potential. Analyzing Altcoins is also sometimes not too difficult. Fundamental analysis is needed if we want to hold a number of altcoins in the medium term. That is until the increase target is reached. Ethereum is one of the altcoins that I also currently hold. Because Fundamentally Ethereum is the strongest in terms of Fundamentals.

But for the long term I also stick to Bitcoin. Sometimes accumulating it consistently brings its own pleasure to me. especially when the target amount of accumulation is almost reached.

Not to mention he probably has alt accounts that are older, but they are probably banned or red tagged, so on to the next account.


That's exactly what it is. He probably took the sig campaign earnings from his various alts and put them in a single wallet. At least he's a saver. 

I have both. I think with both of them will have a good period with some altcoins that are able to survive. At least some good Altcoin periods always follow the direction of BTC movement. So I have a few altcoins that I think are pretty good to hold. But I also trade to continue accumulating BTC, because I believe BTC will have tremendous value as more and more believe in Bitcoin. In addition, with a limited number of hopes, it supports the law of demand and supply.