Topic: Is it better to have many altcoins or it is enough to have few? - page 49. (Read 4949 times)
This branch should be moved to the altcoins section. As for tactics the acquisition of coins that each person has their own thoughts. I prefer to buy no more than three altcoins. The main savings I keep in bitcoins. I think that this coin has always been and will be the most popular and protected from collapse in the future.
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
There is no bad thing in holding more than enough coins unless and until they all are good coins or what I can say hot projects in short. However if the coins or related projects are not worth anything then holding many coins wouldn't be advisable. In such instances it would be just fine to have few coins which are perfect one. Thus giving you more income and less risky than having more coins. So it's all about the coins which you choose and not about how many you hold.
If you can afford it, best is to invest in many quality coins, so you minimise risks of losing if a particular coin crashes. And you take the chance to earn a lot if another coin flies to the moon.
But don't invest anywhere without knowledge, study each coin's story, technical background...
But don't invest anywhere without knowledge, study each coin's story, technical background...
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
I think it is risky if you have all those alt coins, because when the time comes that all of you altcoins crashed you will lose a big amount of money. Let's say that you have a chance to earn big because you have all of them, if all of your alt went good then you're lucky, but we don't know what might happen in the future. So i think, you must buy only the known alt coins now and just hodl them for a long time. 
it is only a matter of preference.
my preference is to have as many coins as i can manage to handle. this is usually about 3 coins at most. if you have 500 different coins you first need multiple wallets to hold all these and also if they start getting dumped like what you see these days there is no way in hell you can handle all of these drops.
but if you have 3 for example and all 3 drop you can easily handle things perfectly.
my preference is to have as many coins as i can manage to handle. this is usually about 3 coins at most. if you have 500 different coins you first need multiple wallets to hold all these and also if they start getting dumped like what you see these days there is no way in hell you can handle all of these drops.
but if you have 3 for example and all 3 drop you can easily handle things perfectly.
of course its better to have many altcoins because if you hold all of them at least 1 year then you will be millionaire, but if that all are shitcoins maybe I still keep holding maybe one of them will go to the moon.
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
I will say it is better to have few altcoins with high potential in the long term is better than holding lots of shit coins.Because many altcoins will lose its value year by year so be picky while picking your altcoin.
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
Of course it is better have an investment in different kinds of cryptocurrencies to lessen your potential losses which is called diversification. For example you invested 50% of your funds on Ethereum and 50% on Litecoin then Litecoin price dropped, your losses will lessen because the price of Ethereum is not affected by the drop, compared when you only invested in one coin and the price drops, your losses will be much higher since all your funds are just in one basket. But you should be careful when investing in altcoins (especially when you plan to go for long term) because there are lots of coins that really don't have a potential to grow and only luck can give it a boost in price when whales decides to pump that altcoin.
It's not necessary to have lot of coins, maybe you can choose to acquire some coins that are really profitable (personally i choose btc and eth). So you can be sure of return of investment, having lots of coins can lead to a greater risk of loosing more investment. So better be sure and be wise.
I don't think it is necessarily better to have more coins and it depends on who you ask as that question is subjective. I feel like the competition is better as it will bring out a true winner but at the same time there are too many crappy coins available. The big bonus of having these many coins is you find innovative features that would have otherwise not been found had we only developed Bitcoin, but the drawback is that a lot of these projects will eventually fail. I see that as a positive, but others may view that as a negative which again makes the whole topic subjective.
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
Diversification is the key to a healthy investment portfolio. So it is always better to have more different types of coins. However, if you are going to invest out of your pocket then be choosy and always research before you leap in with your hard earned money. But if you are targeting ICO bounties where you don't need to invest out of your pocket, try to join as many as possible. Because out of 10 bounties you will receive, you will probably see value in two or three coins and rest all may be useless. So for bounties, definitely try to have as many as possible, but when it comes to investment, research well before you jump in. Because if you don't research well, you may end up loosing your entire investment.
There are currently a lot of shitcoins out there. They simply exist because they are full blown, Pump n dump coins. If you
can spot the coins that are used for that, then you can diversify into legitimate Alt coins. They say diversification is good,
but it can also be bad if you are invested in the wrong coins. Most of the time it is just a gamble and the luck of the draw, if
you pick the right coins. {There are currently over 1300 coins out there}
can spot the coins that are used for that, then you can diversify into legitimate Alt coins. They say diversification is good,
but it can also be bad if you are invested in the wrong coins. Most of the time it is just a gamble and the luck of the draw, if
you pick the right coins. {There are currently over 1300 coins out there}
Diversifying your portfolio to like as many coins as you can is simply shooting in the dark in hopes one will turn out to be the best one out there. Thus it is far more better to do your research and invest into few you truly believe can make the difference and which are outstanding from other coins.
There are currently a lot of shitcoins out there. They simply exist because they are full blown, Pump n dump coins. If you
can spot the coins that are used for that, then you can diversify into legitimate Alt coins. They say diversification is good,
but it can also be bad if you are invested in the wrong coins. Most of the time it is just a gamble and the luck of the draw, if
you pick the right coins. {There are currently over 1300 coins out there}
can spot the coins that are used for that, then you can diversify into legitimate Alt coins. They say diversification is good,
but it can also be bad if you are invested in the wrong coins. Most of the time it is just a gamble and the luck of the draw, if
you pick the right coins. {There are currently over 1300 coins out there}
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few?
I think the answer to this question would be to have many high quality altcoins, altcoins that have real use and a good team behind the coin.
What are the benefits and harm in having that many alternative coins?
The benefits are that the altcoins have different teams and different developments or the price of one raises a lot while the others can increase a lot in other months or years... you get many profits.
The disadvantages are that if you find many altcoins that have no use in real life you can lose a lot of money, just see examples of some altcoins that in only 3 months fell from 600 satoshi to 150 satoshi and imagine if you had invested in 10 projects like this? You would be with huge losses and a lot of disappointment.
Well if you really want to earn big much better to have many altcoins so that you can earn big.Even though it tales along time for you to earn but still it is very great option because in a long run you can be able to have alot of profit and get rich as well.
I know that there are many kinds of alternative coins existing today, but is it better to have that many coins instead of having just a few? What are the benefits and harm in having that many alternative coins?
for me its better to have lot of altcoin, if you have lot of coins your safe in trading why ? because when some of your coins dump maybe other will pump and it is not so risky for me i think.
I think its better to have different alt coin than to have only one because we can never tell if that coin which you have bought will be dump at some point. Also, if in case there comes a point when you urgently need the money you have other option of which among will you sell based on the mark up that it already has.
I would be ok with just a few since most of them have no use whatsoever other than for Trading. Around 5 or 6 altcoins (out of +1500) actually have real usage, and about another 5 alts have a promising future...the rest are just dreams and hopes or straight up scamcoins. But at least in the future most of the 'shitcoins' will dissapear and only the altcoins with real and functional use cases will survive.
Keeping too many coins has more chances that you can earn a fortune from one of them, though, same with the bad side that some coins are just waste of money but at least if you have more profit than losses then it is fine. Holding a few coins will just hold you back from earning.
The risk of diversification investment is even lower. Of course, if bitcoin drops, the same is true of what coins you take.
Jump to: