Topic: I sold the altcoins and invested in Bitcoin" - page 5. (Read 1201 times)
!!!!!wow!!!!!i am surprised how radical you were to change absolutely everything without thinking twice but it is quite good they gave you excellent advice maybe since you have always used altcoins you should have done it little by little as to avoid losses since that had not it yet haing handled this type of investment but omitting this part it seems to me that you made an excellent decision and of course if it is good for your future this asset has that characteristic that pays off in a certain time so you should not worry just keep advising you so that everything is kept under control and things turn out as you expect.......As for the wallet you are using it may be better to go looking for one that is more suitable for this type of currency one that keeps you anonymous and in turn secures your assets and with which you can feel comfortable.
Investing in Bitcoin by selling your altcoin is a good move if the altcoin you sold are shitcoins and is good for short time investment. Honestly I am not much of a pure Bitcoin only investment since if we are looking for a higher profit without considering the risk, reputable altcoins give way better profit than Bitcoin. (Don't flame me for this, I am just citing my opinion) but of course to those who wanted a more secure investment, converting all altcoins to Bitcoin is the wise move. With regards to the wallet, offline wallets is always better.
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?
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?
I assure you it's the best decision you made in your life! Altcoins are called shitcoins for a reason! But I hope you're planning this as a long-term investment, otherwise you may get disappointed or even suffer losses! Think of it as of a 5+ year investment.
I think that diversification is the key to success. It is better not to invest all your funds in one coin, even if it is bitcoin.
Even if that is true, it really depends on the risk tolerance of each investor. If you can be responsible for the cause and effect of investing in bitcoin, then there is nothing wrong with investing only in bitcoin. Diversification of assets (bitcoins & altcoins) sounds good, but if you are experienced in this investment then maybe you will be different.So far I haven't been as successful as other experienced investors at investing, that's because I still need to develop a good strategy and plan on investing. I'm not going to make a big deal out of diversification, but I just believe that bitcoin has a better future than thousands of other altcoins.
~snip
You need to be careful about the advice of others, even if they are familiar investors. For no one knows better all the features of your case, except you.Investing in bitcoin, in my opinion, is good for your future because btc is the most reliable and stable currency among all crypto. If cryptocurrencies ever depreciate and disappear, btc will be the last of them. This is achieved through decentralization (the only decentralized currency), the largest user base, trust, capitalization and cost.
But this choice is bad because it will not bring the highest profitability compared to altcoins. Bitcoin reliable, but less profitable. Altcoins are less reliable (due to the risks of depreciation and being forgotten by everyone), but can be more profitable. In my opinion, your choice is the best. It is better to get a smaller profit, but for sure. Being greedy with investing in altcoins can empty your wallets quickly and easily.
For safe bitcoin storage, it would be better to use electrum or hardware wallets (because the amount of your investment of $800 allows you to allocate part of the funds to buy this device).
It is not advisable to keep all your money in a trust wallet for long term, it is better to use a good hardware wallet There is no need to invest all your money in bitcoins you can invest in altcoins as well if you want. Although bitcoin investment is risk free but also good profits can be made from altcoins if you choose the right altcoins.I think your friend gave the right advice about the downside of Bitcoin and the volatility of the market. As long as you invest in Bitcoin, you should invest for the long term, because long term investment can yield good returns from Bitcoin.
Bitcoin investment is not risk free and it gives less profit compare to altcoins, life changing profits mostly come from altcoins and with little amount of money invested unlike Bitcoin that now requires a lot of money to make insane amount of money because the value of Bitcoin is already high, and that makes it not suitable for those that have 100$ to 500$ for investment, having to hold that thinly amount of Bitcoin for years and end up with 4x of your 500$ is not very good enough. Greed is something that mostly makes us lose a lot of money whether it's trading or anything in the world, so if we go for making only altcoins investments just because we can get more profit in a shorter period of time, that might cause us more than what we can potentially gain from the investments.
Looks your altcoin holding is not really profitable, I checked with TRX price look stable around $0.073 and have been longer time difficult raise until $1, its worth when your altcoin holding convert to bitcoin. But for Matic coins its looks profitable holding few months later than you sell or convert to bitcoin due price still drop under $0.7. All time highest price from Matic coin above 3$ last two years and has chance for Matic coin possibility back to higher price. No bad ideas when selling your altcoin right now and invest to bitcoin, looks you wrong way when investing with low interested altcoin like TRX where price keep stable and hasn't potential back to higher price although Bitcoin raise up.
(Not financial advice)
50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)
I think that this is the best setup.
Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.
50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)
I think that this is the best setup.
Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.
To me this seems like a solid strategy. ETH definitely seems promising and is widely held by many huge conglomerate companies, individual investors and crypto enthusiasts alike, especially because of its use in DEFI projects, for NFTs, etc. Many of these other "shitcoins" could still get some nice pumps. Ultimately though I think long term stick with BTC. Try to diversify but in the end I think all roads will still point back to BTC. Thats just my take.
Agreed. Don't get me wrong, not condoning shitcoins at all. There are solid altcoins/tokens out there representing reliable protocols...Uniswap, Aave, Arbitrum, Polygon, etc.
1% doge/pepe maybe still worth it
(Not financial advice)
50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)
I think that this is the best setup.
Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.
50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)
I think that this is the best setup.
Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.
Fuck ETH and fuck altcoins. Most of them, including ETH, are securities because they pass the Howey test.
There were a few news about ETH last year, one explained how Vitalik dumped some of his coins onto new investors in 2022 and the other was about ETH being a security.
I say go 100% bitcoin. If that's too much for you, buy bitcoin and invest the rest in some real estate and stocks. Buy physical gold if you want, but stay away from shitcoins.
Who cares about the Howey test...we're in a completely different financial realm here. That test shouldn't completely apply to blockchain protocols imo. I wouldn't say "fuck alternatives"...I'd say there's no harm in keeping a small portion of alts/eth in the event that they 10x+ while Bitcoin does its usualy 2-6x during a bull run, which historically, has happened.
It is not advisable to keep all your money in a trust wallet for long term, it is better to use a good hardware wallet There is no need to invest all your money in bitcoins you can invest in altcoins as well if you want. Although bitcoin investment is risk free but also good profits can be made from altcoins if you choose the right altcoins.I think your friend gave the right advice about the downside of Bitcoin and the volatility of the market. As long as you invest in Bitcoin, you should invest for the long term, because long term investment can yield good returns from Bitcoin.
Bitcoin investment is not risk free and it gives less profit compare to altcoins, life changing profits mostly come from altcoins and with little amount of money invested unlike Bitcoin that now requires a lot of money to make insane amount of money because the value of Bitcoin is already high, and that makes it not suitable for those that have 100$ to 500$ for investment, having to hold that thinly amount of Bitcoin for years and end up with 4x of your 500$ is not very good enough. Greed is something that mostly makes us lose a lot of money whether it's trading or anything in the world, so if we go for making only altcoins investments just because we can get more profit in a shorter period of time, that might cause us more than what we can potentially gain from the investments.
I think that diversification is the key to success. It is better not to invest all your funds in one coin, even if it is bitcoin.
That's not bad but it's surely a slower process of making money, to make money in the crypto space is not about Bitcoin only, you need to spread out your money and build a solid portfolio to maximize your gain, with 5000$ investment you can make 150,000$ with ease, someone I know use 2,500$ to net 130,000$ in 2021, he split the 2,500$ in 25 different altcoins and some fine, like 10x and few like three did over 100x and more, all these coins are altcoins.
You should invest in Bitcoin but make sure you have solid altcoins in your portfolio, that's where you will make the craziest return of investment, not from Bitcoin, I always expect nothing less than 1500% gain from Bitcoin, x3, x4, x5, or x6, but different in altcoins, you will see easy x10, x20, x50, x100 in altcoins.
You should invest in Bitcoin but make sure you have solid altcoins in your portfolio, that's where you will make the craziest return of investment, not from Bitcoin, I always expect nothing less than 1500% gain from Bitcoin, x3, x4, x5, or x6, but different in altcoins, you will see easy x10, x20, x50, x100 in altcoins.
~snip~
You can’t be completely sure about Bitcoin either. Still, this is a fairly new technology and it is subject to radical changes. Yes, at the moment it will seem that they are indestructible and steadfast, but all this is so relative in the current world.
Some serious event caused by weather conditions and a significant part of the mining centers will be out of the game. How do you like that? It will not be so easy to resume a large mining farm again.
You can’t be completely sure about Bitcoin either. Still, this is a fairly new technology and it is subject to radical changes. Yes, at the moment it will seem that they are indestructible and steadfast, but all this is so relative in the current world.
Some serious event caused by weather conditions and a significant part of the mining centers will be out of the game. How do you like that? It will not be so easy to resume a large mining farm again.
Sure, no one can predict the future.
But at least there are some fundamental ideas of Bitcoin that are superior to other assets, and that won't change.
Bitcoin is the safest coin in the crypto market, while altcoins are quite risky but have a chance of giving investors better returns. Investing in bitcoin is always recommended as it is safe and secure, but with altcoins, those who can take risks and are confident in their skills can give it a try. Investing in bitcoin or altcoins is a personal decision.
Wallet for storage: it is best to stay away from that trust wallet and use Electrum for bitcoin and metamask for altcoins. Or use the open source hardware wallet that is considered the most secure today.
You can’t be completely sure about Bitcoin either. Still, this is a fairly new technology and it is subject to radical changes. Yes, at the moment it will seem that they are indestructible and steadfast, but all this is so relative in the current world.Wallet for storage: it is best to stay away from that trust wallet and use Electrum for bitcoin and metamask for altcoins. Or use the open source hardware wallet that is considered the most secure today.
Some serious event caused by weather conditions and a significant part of the mining centers will be out of the game. How do you like that? It will not be so easy to resume a large mining farm again.
Some holders cannot take the pressure brought up by trading alts since its like fast moving to them and they can't react as quick as they can since they don't know what to do about certain condition happens. So I guess he's still doing some good decision for staying on bitcoin for a while since focusing on one crypto to trade can give him more learnings since he can focus on things he missed out when he's trading multiple alts.
That way he has a view when undergoing investment in Bitcoin and involvement in Altcoin investment has shown that progress is not significant towards him, so that the choice of Bitcoin and releases all the altcoin he has is the right decision. Nearly many people cannot receive the pressure caused by the Altcoin trade because of the risk of its journey that is so large and difficult to find a level of resilience in the corrected market conditions, therefore holding bitcoin is far better than Altcoin.The previous experience in Altcoin will lead to the ability to analyze the development of dibitcoin and for now he has made the right decision. Bitcoin has the ability to defend itself in any condition and Bitcoin durability has also been tested over time. That is the reason I ask how the condition when he invests in Altcoin and the relationship can be seen the extent of its development.
Well, your decision is not a bad one. if you are targeting long term investment, I feel that your decision is right.
Personally, I also use the same strategy, which is to sell all the altcoins I have at a high enough price, then I invest back into one coin which I feel has great potential. I sometimes choose between ethereum and BNB, because I feel that it is still quite easy to get 1 coin compared to bitcoin, but I think we have the same strategy.
You will really feel this when you do this consistently. when you have a lot of bitcoins, you will feel it when the price really goes up. it carries less risk than owning lots of altcoins, especially since the altcoins are not popular. So, it's better if you sell everything while the altcoin still has a price, and switch everything to bitcoin.
Personally, I also use the same strategy, which is to sell all the altcoins I have at a high enough price, then I invest back into one coin which I feel has great potential. I sometimes choose between ethereum and BNB, because I feel that it is still quite easy to get 1 coin compared to bitcoin, but I think we have the same strategy.
You will really feel this when you do this consistently. when you have a lot of bitcoins, you will feel it when the price really goes up. it carries less risk than owning lots of altcoins, especially since the altcoins are not popular. So, it's better if you sell everything while the altcoin still has a price, and switch everything to bitcoin.
Your decision to put your trust in Bitcoin is very useful for the future to increase in value when the price is already high. Selling all Altcoins is not a bad decision, it is also important to keep an eye on Altcoins that need to be maintained which have good potential in the future.
Have you ever heard the words "Prepare an umbrella before it rains", this proverb might be a reference to the investment decisions you make. You should look for safe wallet information to store assets in the long term, not buy assets and then look for a suitable wallet to store them.
You can use Electrum for an online wallet.
Have you ever heard the words "Prepare an umbrella before it rains", this proverb might be a reference to the investment decisions you make. You should look for safe wallet information to store assets in the long term, not buy assets and then look for a suitable wallet to store them.
You can use Electrum for an online wallet.
While there is no question that soon we can see BTC go higher and certainly it is almost "guaranteed" that your portfolio will be increasing in value, it does not mean that alts will not also be expanding and sometimes they can go even better than Bitcoin. As of now, Ethereum is also looking good so I am advising to also get into ETH as much as possible. As someone said in the past and still resonating today: Do not put your EGGS in just one basket. Right now, I am also a user of TrustWallet but am not recommending this to many people as I once lost some tokens in there without me knowing why - and we have more secured and better options already available at your disposal.
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.
Btw, don't do what you say because you follow other people's words/suggestions, follow your investment instincts. So, Whatever happens, you have been prepared from the start. Good decision. Yes. I like typical mentalistas like you.
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?
The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?
Yeah. That's right. BTC is Good Investment and you traded at a very decent price for now which is $30,842. Remember, there is no single system that is safe in this world and provides a guarantee of security. But, as far as I know, you can use Bluewallet. You can read testimonials on wiibesite first, then download the application according to the instructions on wibesite. But remember what was said above. Just for reference only. The choice is in your hand. what is the safest and easiest for you to use.
(Not financial advice)
50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)
I think that this is the best setup.
Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.
50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)
I think that this is the best setup.
Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.
To me this seems like a solid strategy. ETH definitely seems promising and is widely held by many huge conglomerate companies, individual investors and crypto enthusiasts alike, especially because of its use in DEFI projects, for NFTs, etc. Many of these other "shitcoins" could still get some nice pumps. Ultimately though I think long term stick with BTC. Try to diversify but in the end I think all roads will still point back to BTC. Thats just my take.
it seems you often hear from people who always suggest that investing is safer in bitcoin, and I also agree that the safest investment is in bitcoin, and in my opinion it would be better to store btc in a wallet than store btc on an exchange.
but actually if you don't sell altcoins and don't convert them into btc it really doesn't matter as long as the altcoins you hold are quality altcoins like ethereum of course there's no problem if you don't sell them too because ETHEREUM has a bright future as long as bitcoin is still in great demand.
but the decision is yours.
but actually if you don't sell altcoins and don't convert them into btc it really doesn't matter as long as the altcoins you hold are quality altcoins like ethereum of course there's no problem if you don't sell them too because ETHEREUM has a bright future as long as bitcoin is still in great demand.
but the decision is yours.
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