Topic: Is it worth buying other cryptocurrencies other than bitcoin? - page 11. (Read 5768 times)
It's a popular opinion but diversifying your portfolio would have more benefits than harm. There are many reason why diversifying would be more rewarding and less risky than just holding bitcoin and it's not just due to profit. Their might be different circumstances both with the market and yourself that may make bitcoin only investment seem like a bad idea. Even with diversified coins, it better to diversify how and how long you hold them.
IT is a common misconception to believe that BTC is the only one legit coin in crypto as I have known few people in my experience who also believe so.
In buying other coins aside from BTC or ETH, you can consider buying from the other well known coins such as BNB, XRP, Uni, or etc. Or as you said, consider their offerings and just 100% believed what you feel if they're scam or not. cause now you will be taking the high risk in crypto
the fact of the game of investors may be, but that is not the main factor if the coin already has its own fundamentals, this is proven when Elon toyed with the coin but it returned to its pre-crisis price
Bitcoin is the king of all cryptocurrencies. Strong community of any coin plays a major role to drive the value of the coin. You should not repent that you missed the chance most of the forum members are like this at first they also ignore the crypto market Genuity but later most of them realize they missed a good earning opportunity. At present, I like Trx, Cardanao, Ethereum, and Binance because these all are product-based and the probabilities of growth are quite higher than many other coins.
I heard about Bitcoin and ethereum around the same time. Bitcoin was I believe around $15k and ETH was below $200. I couldn't afford to buy 1btc so I didn't buy any and I didn't buy ethereum because I believed Bitcoin was the only genuine crypto currency to buy. But since my discovery of this forum I have found members who believe different. Looking back I see I have lost on both fronts and wasted an opportunity. So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
The answer is Bitcoin is the best ever.- Messari.io screener
- Click on Customize, remove check from unused indicators. It's better when you narrow down the list of indicators, to see % Down from ATH (All time high)
- Even Bitcoin set its new all time high in May, many altcoins have yet reclaimed their 2017 or 2018 all time highs.
- Even so, Bitcoin still has less % Down from ATH compares to many other cryptocurrencies
You can use Dollar cost averaging or Satoshi cost averaging tables
I heard about Bitcoin and ethereum around the same time. Bitcoin was I believe around $15k and ETH was below $200. I couldn't afford to buy 1btc so I didn't buy any and I didn't buy ethereum because I believed Bitcoin was the only genuine crypto currency to buy. But since my discovery of this forum I have found members who believe different. Looking back I see I have lost on both fronts and wasted an opportunity. So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
The fundamentals of a coin are always the most important, many people let themselves be deceived by hype thinking it is the most important thing for new coins to gain money, and it is if you are looking for fast variations on the price on the short term, but there is just one small problem with that, it is impossible to predict which coin will go through incredible hype and produce gigantic profits, and if you choose this path then you are basically gambling with your money with the difference you are not getting any fun out of it.So concentrate on the fundamentals and once you do you will notice there are only a few projects that are good and that are at an early enough stage for you to invest.
I couldn't afford to buy 1btc so I didn't buy any...
That was a big mistake you made. You should've bought the much your finances could've afforded you. You would've been on a double profit at the current price if you actually bought at $15k.So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
It's best to buy on the technology and usecase the token has to offer. In fact, that's the only option there should be. News is hype and may not last long to sustain a project. It's crowd mentality, don't go that way. Always consider the programme and functionality of the token you want to buy. Doing that will make you not be in panic whenever its price crashes. There is a difference between buying a currency and investing in its currency. Investment is always a bet on the future. There is nothing better than betting on technology or buying. It is linked to achieving a profitable profit. When you achieve that profit, you can withdraw your money (short-term investment)
In general, we are in an early adoption stage and these prices may be very low in the future. Buy using the average dollar price strategy when you have a surplus of money. In any case, keeping Bitcoin is better than cash.
My concern is for the long term. I'd like to buy and store for a long time. I'm not interested in quick profits but for the long term gains. In general, we are in an early adoption stage and these prices may be very low in the future. Buy using the average dollar price strategy when you have a surplus of money. In any case, keeping Bitcoin is better than cash.
I also think believing in the technology would generate more returns. But some coins or project have good tech but poor marketing so they are not known
There are certainly good tokens to invest like ETH which if you just bought some while the price was $200 at that time of discovery, you could have multiplied many times your capital if you hold for long term. It could happen to any project today that you think has good utility for their token. It however takes time.
The reason some of us suggest BTC is it's great for storing value and it's best for trading particularly in BTC/USD pair due to its volatility.
I couldn't afford to buy 1btc so I didn't buy
You could buy 0.5BTC, 0.1 BTC or even 0,00000001BTC=0,00015$ = 0,015 cents (@15k price) - minimal investment in bitcoin! How dare you to say that bitcoin is "the only genuine crypto currency" if you don't even know that it is divisible and you can invest as much as you want, no matter how high BTC price is.
Back to your question. If your knowledge about crypto is that small, and you did not improve it in last 7 months (last time BTC was @15k 7 months ago) you should avoid any altcoin. Mostly because 99% of them are scam, useless or dead projects. There are no more than 10 good alts out of 10 000 listed on coinmarketcap and all of them are overpriced right now if we entered bear market (all TA indicators call bear market now)
There is a difference between buying a currency and investing in its currency. Investment is always a bet on the future. There is nothing better than betting on technology or buying. It is linked to achieving a profitable profit. When you achieve that profit, you can withdraw your money (short-term investment)
In general, we are in an early adoption stage and these prices may be very low in the future. Buy using the average dollar price strategy when you have a surplus of money. In any case, keeping Bitcoin is better than cash.
In general, we are in an early adoption stage and these prices may be very low in the future. Buy using the average dollar price strategy when you have a surplus of money. In any case, keeping Bitcoin is better than cash.
I heard about Bitcoin and ethereum around the same time. Bitcoin was I believe around $15k and ETH was below $200. I couldn't afford to buy 1btc so I didn't buy any and I didn't buy ethereum because I believed Bitcoin was the only genuine crypto currency to buy. But since my discovery of this forum I have found members who believe different. Looking back I see I have lost on both fronts and wasted an opportunity. So my question is this which is more important factor to consider before buying a coin, do you buy because of the technology of the project and what it has to offer, the utility of the token or the news?
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