I sold the altcoins and invested in Bitcoin" - page 6.

xSkylarx

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Quote from: cozytrade on July 05, 2023, 10:19:49 PM

Quote from: Dimitri94 on July 05, 2023, 09:56:54 AM

Quote from: Xampeuu on July 05, 2023, 07:18:27 AM

for the long term and comfort in holding assets, bitcoin is indeed suitable for investing in the long term. we just keep it in our wallet and leave it until we get the expected profit. actually there are several altcoins that have the potential and can be invested in the long term, but it is bitcoin that has the smallest risk...although diversification is recommended, but if we have chosen bitcoin, I think it is the right thing to do

Bitcoin is the most suitable investment platform for long term investment. Investing in Bitcoin is better than investing in other coins even though they have potential. There are many altcoins in the coin market that are more risky for investment. Because we have seen many good projects in altcoins after a long period of time that become scam. In altcoins there is potential for high return on investment but should be avoided due to risk. Altcoins rise when Bitcoin price staying a good position. So it is better to choose Bitcoin for the good investment.

If we invest in Bitcoin we don't have to take much risk because Bitcoin is very reliable to me. If we think of investing in altcoins we have a little risk but there is a possibility of losing money. If we invest in Bitcoin and invest in altcoins then it might be Could be somewhat profitable for us. But I don't know how profitable it could be for us to choose other coins besides Bitcoin. I have done this before and made good amount of profit.

No matter whether we invest in Bitcoin or altcoins, both have risks. I don't say that it doesn't have much risk because there are still a lot of people who bought at ATH years ago, and we don't know if they are still holding it or selling it at a loss, meaning the risk is too high, mostly when you don't have knowledge and just want to buy at green. With altcoins it has more risk because first ton of coins right now that you want to invest sometimes just got died because the developers and owners left and also others just dont run for a year as there are no developments on it that is why for long term Bitcoin is better but it doesn't mean that it dont have risk

Popkon6

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Quote from: Out of mind on July 05, 2023, 12:31:10 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?

Investing in AltCoin is more risky as many investors have experienced losses in the past. If you look back a few days you will find that other AltCoins including Luna, FTX have been destroyed in the market. So at present you have thought right because Bitcoin is a transparent coin. Here you can invest without worry because it is true that investing here can definitely earn benefits. It is your responsibility to keep your bitcoins safe so I recommend you keep your bitcoins in a strong wallet. The wallets are Electrum wallets, or hardware wallets where you can store your bitcoins are definitely safe.

Oasisman

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Quote from: Ale88 on July 05, 2023, 09:00:00 PM

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

Let's say usually, at first, when you're new to this world you buy several altcoins, then you realize many of them are pointless and it's better to focus on BTC, so I would say you made the right choice. The only altcoins I really like are ETH and BNB, those have a great potential and it's worth having some, especially ETH in the short term it may even outperform BTC.

That's what he have learned as well. I think he mostly bought shitcoins considering that he have sold everything he have and bought bitcoin instead. Some might say to never put your egg in one basket, however if that one basket has more potential in multiplying your egg in a couple or so years than those other baskets and not only that it's less riskier as well than those others, without a doubt I'd do the same as what the OP did.
I agree about ETH or BNB or some other handful of top alts in the market, but I'd always choose bitcoin over everything.
Now, the OP only needs to wait and be patient which doesn't bear much of a stress than watching your alts going up and down without the assurance of it bouncing back at some point if a whale suddenly dump his massive bag and people follow suit, that would definitely be an absolute disaster.

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Quote from: Dimitri94 on July 05, 2023, 09:56:54 AM

Quote from: Xampeuu on July 05, 2023, 07:18:27 AM

for the long term and comfort in holding assets, bitcoin is indeed suitable for investing in the long term. we just keep it in our wallet and leave it until we get the expected profit. actually there are several altcoins that have the potential and can be invested in the long term, but it is bitcoin that has the smallest risk...although diversification is recommended, but if we have chosen bitcoin, I think it is the right thing to do

Bitcoin is the most suitable investment platform for long term investment. Investing in Bitcoin is better than investing in other coins even though they have potential. There are many altcoins in the coin market that are more risky for investment. Because we have seen many good projects in altcoins after a long period of time that become scam. In altcoins there is potential for high return on investment but should be avoided due to risk. Altcoins rise when Bitcoin price staying a good position. So it is better to choose Bitcoin for the good investment.

If we invest in Bitcoin we don't have to take much risk because Bitcoin is very reliable to me. If we think of investing in altcoins we have a little risk but there is a possibility of losing money. If we invest in Bitcoin and invest in altcoins then it might be Could be somewhat profitable for us. But I don't know how profitable it could be for us to choose other coins besides Bitcoin. I have done this before and made good amount of profit.

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Quote from: Ale88 on July 05, 2023, 09:00:00 PM

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

Let's say usually, at first, when you're new to this world you buy several altcoins, then you realize many of them are pointless and it's better to focus on BTC, so I would say you made the right choice. The only altcoins I really like are ETH and BNB, those have a great potential and it's worth having some, especially ETH in the short term it may even outperform BTC.

The altcoin market is more of a gamble than an investment like bitcoin but not all of us are useless, and I agree with you, ETH is an altcoin that we should consider adding to our portfolio mine. Not only in the short term but in the long term, I also believe that in price, ETH will not be able to surpass BTC, but it can give us better returns if we compare from now on. This will displease many bitcoin maximalists, but we have to admit it, and the risk of ETH will still be greater than bitcoin.

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Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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 believe you have made a right decision to convert all your Alt coins into Bitcoin. Bitcoin is indeed considered is a pioneer, leading and most secure crypto currency for long term investment. It can also be used for trading purpose if you possess skills to analyze technical charts/trading patterns to make timely decision of entry and exit in the market. Moreover, good knowledge of utilizing risk/money management tools is equally important to mitigate losses in trading. In terms of soft wallets, Electrum is regarded as a relatively secure option.

https://www.cryptonewsz.com/crypto-wallet/electrum-wallet-review/

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Quote from: MiF on July 05, 2023, 04:06:22 PM

Well it is a good idea Bitcoin is a long term investment so you need to hold it for a long term to get huge profit,it also depend on your limitations, because we don't know next week BTC will rise drastically and if you are happy with a small profit you can still get the profit and invest in a good altcoins again we all have different strategy, trust wallet is safe i also use it for a long time and there is no problem just be responsible for your keys to avoid losses.

When investing in Bitcoin, we always have to look at one aspect that is when the Bitcoin market is dump, we have to invest. And if I can't buy Bitcoin at the right time, it will be really difficult for us to make a profit. If we invest in Bitcoin, we have no There is no tension of losing money. But if we choose the right times, it will be much easier for us to make a profit.

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Quote from: Ale88 on July 05, 2023, 09:00:00 PM

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

Let's say usually, at first, when you're new to this world you buy several altcoins, then you realize many of them are pointless and it's better to focus on BTC, so I would say you made the right choice. The only altcoins I really like are ETH and BNB, those have a great potential and it's worth having some, especially ETH in the short term it may even outperform BTC.

Perhaps that's what the OP realized, and I think for those who are in the crypto market for less than 4 years, they really think that altcoins is the best because of the perceived returns and how it was exaggerate by the media and other crypto influncers.

I would agree that there are solid altcoins like you mentioned, but majority here are into Bitcoin and most of their portfolio might have been shift to BTC already and then become a long term investors and a HODLer.

Ale88

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Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

Let's say usually, at first, when you're new to this world you buy several altcoins, then you realize many of them are pointless and it's better to focus on BTC, so I would say you made the right choice. The only altcoins I really like are ETH and BNB, those have a great potential and it's worth having some, especially ETH in the short term it may even outperform BTC.

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Quote from: Questat on July 05, 2023, 04:53:21 PM

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

Not really the best thing to do but if you are doing these in exchange for your shitcoins, that was absolutely right.
But I have to encourage you to spread your capital not only for Bitcoin but also with some potential altcoins like ETH. Even though we know that Bitcoin can be trusted and really a good investment somehow, it was ideal to have at least 2-3 different coins in crypto. It was not just we think about being safe by investing Bitcoin but being a smart investor, we don't just limit ourselves in a single coin as these altcoins has the potential to grow as well.

You are right, bitcoin is the safest and most reliable, but just focusing on it and ignoring potential altcoins like ETH is a huge waste, IMO. We enter the market for profit, so why are we stubbornly focusing only on bitcoin and ignoring thousands of other opportunities? This is like when we criticize the old generation that only likes gold and real estate and not looking for other good investments like bitcoin. We should do our own research instead of just following the crowd and hearing only from one side because, besides bitcoin, there are many other projects that can bring us great profits.

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Well, for me, there what we call diversification, Bitcoin yeah, is the most trusted crypto currency investment we all know, but then, I personally have come to the conclusion that, finding some really promising altcoins to diversify our investment on, is not such a bad idea after all, knowing fully well that when the price of bitcoin goes up, The price of such altcoin or coins might go up too..

So whole holding bitcoin, its never a bad thing to find some really promising altcoins to hold too, you never can tell, which will give you the kind of profit you are wishing for.

And speaking on wallet, trust wallet is only good for altcoins, since it allows users access to dapps where users can either stake or trade their coins on the decentralized exchanges..
For bitcoin, if you can't afford a hardware wallet, then look good rated self custodial wallets with open source codes, like electrum, mycelium and so on.

ChiBitCTy

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There are a couple alt-coins that are decent, and have actual real case utility. That's the thing about bitcoin which makes it such a special coin, it actually has utility. It solves modern day, here and now problem, by present at solution to the way money works. That's the problem with 99% of these alt-coins, or shitcoins..being a more appropriate world I have a lot of clients who will tell me they own bitcoin, and often they own a handful of ridiculous shitcoins that have zero utility and they often have no idea what the coins are and what they are meant for. Bitcoin, again, as legit utility, and in more ways than just one.

Smartvirus

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Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

If it is good for your future, well I can say it’s one of the best decision you’ve taken to have dumped an unreliable altcoins to a more reassuring bitcoin. The urgly truth remains, you could see altcoins attempt a 100x and that’s something that isn’t common with bitcoin but, with bitcoin, your sure it’s always a matter of time for you to make good profits. Stick with bitcoin if you can, at least the major of your portfolio and you’re sure not to have regrets as it would have been with an unreliable altcoin.

I won’t advice that your shouldn’t diversify into other coins within the crypto space but, the major of it should count in your bitcoin hodlings.

Onyeeze

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For me a trust wallet is not hundred percent sure of securing your bitcoin for longer time, I think that the best wallet to use should be Electrum wallet, because during my initial time in forum their is one time I make a thread list of wallet and many people corrected me and nolify my list of what I taught was a wallet not knowing that they are exchanges, and I also asked a similar question of wallet will be good to use in my gas business to store or save my bitcoin for long time and so many people recommended Electrum wallet for me, when I asked the reason why so many people is recommending Electrum wallet of saving of bitcoin they said that because it has a seed phrase and its a non custodial wallet. And many reasons was given to me, then I'm of the support you should use an Electrum since it have higher security

Issa56

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Quote from: Out of mind on July 05, 2023, 12:31:10 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,

Altcoin investment can not be trusted, i don't believe their is anything like strong altcoin, anything can happen at any moment, so you really made a right decision by selling your altcoins and investing in bitcoin. I see altcoin investment as gambling, its having equal chances of being successful and also crashing, we all should learn from the strong altcoins that crashed last year, we should be careful when investing in altcoins.

I noticed something in you post, the amount which you are having in your wallet shouldn't be displayed to the public, you should have make the amount you are having hidden, not everything is suppose to be published online.

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

I bought bitcoins and kept them in the trust wallet.

Why will you want to hold bitcoin and you think the best place to store it is your trust wallet, you are already making mistake, if you are holding your bitcoin then get a hardware wallet and store your bitcoin. Also make sure you properly secure you private key a place where their is no internet connection.

panganib999

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Quote from: Charles-Tim on July 05, 2023, 12:37:49 AM

You are investing. Using a wallet on an airgapped device or a better hardware wallet which is open source like Passport or Trezor would be better. Your keys are saver offline, than to be online.

Electrum can be on an airgapped device, with or without the watch-only wallet: https://electrum.readthedocs.io/en/latest/coldstorage.html

For online wallets, Electrum and Bluewallet are better.

Nice tip. People tend to think nowadays that it's much better using hot wallets when you're actively investing not knowing that if you're only doing the staple buy and hold mechanism you'd much rather want to be secure and safe.

In regards to OP's questions though, I don't generally support going all in on one project/coin only since it almost always puts you at risk of losing all your funds in one go when the coin you invested in crashed in price. It's the typical "don't put your eggs in one basket" calabash basically, which aside from helping you secure yourself from unrecoverable losses, also gives you better opportunities for profit. But in the case of bitcoin, I don't think it's that bad since the coin's on of the most valuable cryptos out there, and if you held it for an extended period of time there's a huge chance for you to pick up a profit, since bitcoin's historically increasing in value anyway.

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Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

I don't think it's a bad decision, to be honest unless you're pretty sure that you'll make a great profit from some of your altcoins. I think you won't regret it since Bitcoin's price will likely increase sooner or later.

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

It's not entirely safe. It is recommended to use a hardware wallet like Trezor to store your Bitcoin securely. Alternatively you could consider setting up an air-gapped device and storing your coins there would be a great option too.

darkv0rt3x

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Quote from: Out of mind on July 05, 2023, 12:31:10 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?

Bitcoin is the only thing you need. You don't even need to be trading Bitcoin. Just buy and hodl it. Shitcoins gives you head aches, makes you lose money, stresses the crap out of you and you'll end up with nothing. You id good selling all the shitcoins and trusting Bitcoin your investement. Bitcoin is the only one that gives you piece of mind at night!
This almost seems some kind of advertisement but it isn't. It's just a user playing his role of prophet and spreading the word of this god called Bitcoin! It just can't go wrong!

TimeTeller

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Quote from: nurilham on July 05, 2023, 04:56:46 PM

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

It is always good to invest in a strong coin. Bitcoin is the strongest coin in crypto, surely it is good to invest in this coin.
However, it is nothing wrong if you want to diversify your assets with altcoins. To optimize the potential of bigger profits, why don't you invest in top altcoins if you have the money in the near future.

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

I think you are better to put your Bitcoin on a safer wallet. Segwit wallet or hardware wallet should be the best place to keep your Bitcoin.

And if you do try to diversify by buying alts, they should be at the top with strong use case.
The longevity of the project depends on its use case, because without it, people can just move on to another.
But if the coin can be used for their every day transactions, then, there's hope that it will sustain its market.
But I can agree with the move of the OP, if he is not confident with the alts he has, better sell it and buy btc.
At least with btc, you can never go wrong as you are not in agitated mode that it will disappear while you are sleeping.

nurilham

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Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

It is always good to invest in a strong coin. Bitcoin is the strongest coin in crypto, surely it is good to invest in this coin.
However, it is nothing wrong if you want to diversify your assets with altcoins. To optimize the potential of bigger profits, why don't you invest in top altcoins if you have the money in the near future.

Quote from: Out of mind on July 05, 2023, 12:31:10 AM

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

I think you are better to put your Bitcoin on a safer wallet. Segwit wallet or hardware wallet should be the best place to keep your Bitcoin.

Topic: I sold the altcoins and invested in Bitcoin" - page 6. (Read 1269 times)