Topic: I sold the altcoins and invested in Bitcoin" - page 3. (Read 1201 times)

Well, it was your choice. However, I would suggest researching the different cryptocurrencies. Take the time to learn about the various cryptocurrencies available and their unique features and applications. This will help you identify which cryptocurrencies align with your investment goals and risk tolerance. XGo swap helps me a lot with that.

For real Bitcoin is a good choice to invest if you're planning in long term investment since as you said it's on minimum investment value. This could literally secure your future as Bitcoin might reach $100,000. But for me, I would still divide my investment for long term and short term. Some would go to Bitcoin and some to alternative coins such as ETH. I would just do quick flip in short term as those quick profits would sustain my needs currently. So and the other spare money would go straight to Bitcoin for me to hodl them for a long time til it reaches it's peak value.

you did not joined few months ago because your account was created since january meaning you have been here for more than half a year .

not sure if this thread is another some kind of merit fishing that we have been seeing many times specially this year.
it is depend on your decisioning mate , it is your money and it is your choice but ? putting all money in single coin is wrong but if you are into bitcoin? then that is a perfect decision .

but his main concern now is about the wallet he is using and that is trust wallet that for me is one of good choices , and also try to have offline wallets such as mentioned above.

You made a perfect decision ..

your future lies in this currency mate, forget about altcoin and just focus in Bitcoin .

it is still best to use Ledger or Trezor wallet mate for more safer investment and I believe that you are into long term holding so yes best for having an Offline wallet.

and has the answer on the first page , Like me I support using Electrum for some of my coins being hold Online ( funds that are ready for trading once there is a dump happened befoere the bullrun)

correct , he is waiting for the Bull run in the next coming years so indeed that OP had decided perfectly and never put His money in single basket .
OP has a good sight for each positioning and with those? he continues to earn and maybe another halving will make Him a  money maker .

Yes, Bitcoin is basically the only real thing. Most of these altcoins are just gambling money so that the creator of it gets rich.

There's nothing else like Bitcoin.

It might seem like they are similar when you only look at the name and the price, but they simply are different things.

that's right, op has done a good job of determining his investment. especially if he sells altcoins in a profitable position and buys bitcoins for investment security, that is the right thing to do in my opinion, for me there is no problem if you only invest in one coin, namely bitcoin, but this should not be done for altcoins. considering that the core of cryptocurrency is bitcoin, the crypto movement is based on bitcoin. so even if there is a crash, we are sure that bitcoin will be able to recover, it is different with altcoins

For now, if you are thinking about your future, it is definitely better to invest in Bitcoin. Because currently the Bitcoin market is at a minimum investment point which will go to a better level in the future. Already we can see that the Bitcoin market will be halved by the next year 2024. and then the price of Bitcoin will reach $100,000 so instead of thinking negatively, think positively about Bitcoin. You can invest in ethereum if you want but bitcoin will give you better profit so better to invest in bitcoin. Since Bitcoin has a chance to halve later in the year, investing in Bitcoin will no doubt make you a huge profit.

sometimes if we are talking about  bitcoin ?  that comment does not really exist .


" Never Invest In single coin" or Dont put your egg in one basket"

those are only given in Altcoin mate but if we are talking to bitcoin that always there for safeties and possible increase?

then let OP have all His money in this valuable coin.

In my personal opinion, your decision in switching your altcoin investments into Bitcoin investment is a smart move considering Bitcoin’s position as the leading cryptocurrency with a widespread adoption and recognition. Bitcoin has shown remarkable resilience over the past years and is regarded as a store of value for potential hedge against traditional financial systems. Nevertheless, do not glory yet as it is important to note that just like every other financial market, Bitcoin is volatile and is also risky.
The only remarkable move you’ve made is to move your investments to a more established cryptocurrency (Bitcoin). Have faith and keep in touch with market trends and stay updated on Bitcoin’s development and all factors that impacts it’s value.

Trust Wallet offers features like private key control and seed phrase backup to enhance security. It is also important to take additional precautions to protect your investments by making sure that you have a strong and unique password for your wallet, also, enable a two-factor authentication, and continuously keep your wallet software up to date.
You should also consider implementing offline or hardware wallets for long-term storage of your Bitcoin, as they offer enhanced security by keeping your private keys offline. Conduct thorough research and choose reputable wallet solutions that align with your security requirements.

The deed is done for now, as least from what you have said you've sold all the altcoins already. Although if I were you I would have held Ethereum that is if you have the coin already. Definitely with the market you can say your future is secured financially if you could hold enough to have the profit that will be best for you.

This is a great idea, you should be selling your alts and getting bitcoin if you do not trust your alts and you should be doing something better with it which is bitcoin. You can trust bitcoin for sure, there is no reason why you shouldn't trust bitcoin, it will go up in the future and there is no way around it, I know that some alts will go up too, but we can't say all alts will go up, some of them will and some of them won't which means that we do not know which ones will go up and which ones will not.

You might be holding one that will go up so selling that and buying bitcoin could be a mistake, but if you are holding one that will go down then it's going to be terrible. This is why you should be careful with what you are doing.

Good.
You have made a very reasonable decision because Bitcoin is much better as an investment asset than altcoins.

The number of your assets is quite large and continues to grow if you are serious about investing in Bitcoin.
I would say Trust Wallet is not a safe wallet to store assets with that amount.

Use the Electrum wallet for extra security.
BlueWallet is also secure and easy to use on mobile.
If you see and read this post, transfer all assets from Trust Wallet to Electrum wallet.
Since you have decided to sell all altcoins and invest in Bitcoin, I will no longer mention Unstoppable wallet.

That is why its is Bitcoin for long term holding. One of the most promising and worthiest results of investing in bitcoin is by holding for long term. However, on the other hand, we must also understand where it will take, when you need to take the Bitcoin and when to take profits one day later. For, not all years are good enough to take profits. because there are bearish and bullish era in crypto business. And bullish era is the best time to take profits.

If those are junk altcoins then selling them to invest in bitcoin is a good decision, but if it is ETH then I think we can also hold ETH because the possibility that it will bring a bigger profit than bitcoin is possible.

Trust wallet is a non-custodial wallet but a closed source, so it is not as secure as you think, although there has been no incident or negative news about trust wallet. If you don't have a hardware wallet, you can use Electrum for your bitcoins, stay away from custodial wallets, and closed source wallets like trust wallets.

Your decision to sell all altcoins and invest in Bitcoin is the best choice, especially now that there are many issues that say that the value of Bitcoin will increase again for the coming year of course in 2024, so at this time we have to prepare some assets that cannot give us the advantage to switch to buying some Bitcoin, and for the current wallet problem TrustWallet is very safe for us to use and also there are several other wallets that are also We can rely on.

Investing in Bitcoin is much better than other tokens. Maybe it's a good decision for you. But I see you hold your bitcoins in a trust wallet. But it is not good to hold bitcoins in a trust wallet for a long time. You need to keep your bitcoins with better security. So that your property is not damaged.

Not just some times, most times altcoins always perform better than Bitcoin, that's if you are one of the early buyers of a good altcoin and you sell in a bull market, you will make more money than if you invested it on Bitcoin, I can give names of projects that have did so well better than Bitcoin in 2021, even the shit coins like FLOKI INU, I won't recommend those types because they are too risky but look for better alts that have the potential to 100x your money, this should not also disturb your Bitcoin investment too.

The past price action of Bitcoin is better than any altcoins because Bitcoin has never down back to 90% before unlike altcoins that can down 98% but some people are giving advice that people should stay away from new altcoins, they forget to tell them that old altcoins don't always make new all time high again and some slowly die with time.