Is it worth buying other cryptocurrencies other than bitcoin? - page 5.

wheelz1200

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Quote from: Magicalking on July 03, 2021, 09:48:08 AM

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?

That's the common misconception of crypto. I can't buy bitcoin because it is too much. Just buy a fraction of bitcoin. I would always recommend you start with bitcoin and go from there. If your portfolio does not have any bitcoin in it then it's a very unbalanced portfolio.

Digital_Lord

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If you missed Ethereum and Bitcoin 7-8 months ago. You can invest now in these because both coins have still the same potential and utility and they are in a dip as well. So if you want to buy any altcoin. It's the right time. Go and Buy some Ethereum and Bitcoin if you want.

Tegxy

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Quote from: Magicalking on July 03, 2021, 09:48:08 AM

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?

My opinion: You mentioned the key factors already; buying because of the technology of the project and what it has to offer. As for news, it depends on what type of news. I would say the coin utility is of topmost priority. For example, I am familiar with a strong project Seascape Network(website: game.seascape.network). Although Seascape Network has its tokens $pCWS and $CWS, why do I consider purchasing it a good investment? It is because they focus on incentivizing their community. They provide blockchain game where users can profit from, provide 172% APR on stake, 3x leverage system for $pCWS trade on WOWSwap and so on. They have established tons of partnerships to widen their token usage base. I perceive you would agree with me that knowing such about a project gives confidence knowing that risk is minimal rather than purchasing a coin with so much appraisal in the news without focus which often ends up in a rugpull after listing.

jinneas

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If you want to hold it for a long time, it is more appropriate to invest in Bitcoin or Ethereum. They have a longer development time, and it is better to rely on sound technical support for security.
If you make short-term profits, you can invest in altcoins. The initial cost of altcoins is low, and you can get high profits in the short term. However, altcoins are very risky, and volatility indicators should be used to analyze market trends before investing to reduce risk losses.

gurunanakji777

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It's not like the only Bitcoin is profitable there are many other altcoins that have good potential to give good profit like BTC. It depends on the utility and the supportive community matters a lot in deciding the value of the coins. Many of us did not take the cryptos seriously when heard for the first time but lately, most of them repent by not taking it seriously but it does not matter even I believe one can buy now too because this market has to go long way ahead as I feel.

aylabadia05

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If I buy a coin by looking at the price factor, it is likely to be stable. That's what I consider when buying coins. Ethereum and BNB are currently my choices. And if I may recommend to you, the two Altcoins I mentioned are for you to buy.

ROSERTY

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Bitcoin as the mainstream currency of cryptocurrency, is demanded and recognized by more people, has better value, and at the same time brings higher benefits. As the value of Bitcoin increases and more altcoins appear, there will be many speculators speculating on altcoins because the price of Bitcoin is too high. This kind of high-profit return is bound to have higher risks. Most altcoins are created to obtain more benefits from investors. They do not have perfect technology and are easily attacked and disappeared.

caffu chino

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Quote from: irsada on July 11, 2021, 09:03:22 PM

Not all altcoins are good investments, extra research is needed first to get them, because most altcoins are created today just to enrich developers.
the crypto market is very volatile, if you have enough money it is better to invest in altcoins that are already in the top 20 coinmarketcap only. however, there is no guarantee that each of your investments will be successful within the time frame you specify.

yes you are right, the altcoins released today are mostly just to enrich the developers. they just want to raise money from the token sale and disappear after. this always happens and makes altcoins seen as shitcoins. but despite all that altcoins that are in the top 20 list are still worth investing in.

cabron

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Quote from: Tina H on July 11, 2021, 08:55:28 PM

Personally, I often buy some altcoins that I think are promising and promising, and some are more suitable for short-term holding. Although the volatility is large and the risk is large, it will bring me considerable benefits. When buying other tokens, you must conduct research to reduce its risk, because some altcoins are rubbish coins.

Not really for short term for me. The altcoin I hold was already more than 2 years and although the price had gone up and down significantly I'm still holding because of some reasons like I'm staking and playing the games developed on it. So it must depend on the kind of investor.

I'm sure there are also users who bet for ADA for a long time which some of them bought while the price is less than $0.05 which they are also staking like the reason for investing ETH as well.

irsada

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Not all altcoins are good investments, extra research is needed first to get them, because most altcoins are created today just to enrich developers.
the crypto market is very volatile, if you have enough money it is better to invest in altcoins that are already in the top 20 coinmarketcap only. however, there is no guarantee that each of your investments will be successful within the time frame you specify.

Tina H

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Personally, I often buy some altcoins that I think are promising and promising, and some are more suitable for short-term holding. Although the volatility is large and the risk is large, it will bring me considerable benefits. When buying other tokens, you must conduct research to reduce its risk, because some altcoins are rubbish coins.

terrific

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Quote from: ?? on ??

Definitely! Have you ever heard of Ethereum? 😂 Not a financial advice 😉.

Ethereum is worth it in the sense that you've already invested in bitcoin.

Quote from: ?? on ??

In the past Bitcoin history someone said, "buy at least $1 of Bitcoin and hold for years." He didn't know the exact things to happen in the future but his prediction happened. May be my words is consider to buy Bitcoin and Ethereum though it is expensive now. But it is possible to become more expensive in the future as we all know the factor of Bitcoin and Ethereum in cryptocurrency ecosystem.

That's davincji15 and he surely said the same words and posted it on youtube and he's right. That's why buying bitcoin at any rate right now is a must.

Dump3er

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Quote from: Tahsin Kabir Kollol on July 11, 2021, 12:21:56 PM

You can definitely buy other cryptocurrencies instead of Bitcoin in the hope of making more profit. A look at the coinmarketcap shows that some ultra coins suddenly go up and make several times the profit. However, in the case of long-term investment, all this cryptocurrency is not really a good idea. As Bitcoin is one of the most popular and accepted types of cryptocurrency, it is a medium for long-term investment even though it has a low return on investment. So while investing in other cryptocurrencies is more profitable, Bitcoin will be a relatively safe investment medium considering its acceptability, market volume and security.

You can do that bu if you want to get involved you should invest some time to really understand what you are dealing with!

Tahsin Kabir Kollol

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You can definitely buy other cryptocurrencies instead of Bitcoin in the hope of making more profit. A look at the coinmarketcap shows that some ultra coins suddenly go up and make several times the profit. However, in the case of long-term investment, all this cryptocurrency is not really a good idea. As Bitcoin is one of the most popular and accepted types of cryptocurrency, it is a medium for long-term investment even though it has a low return on investment. So while investing in other cryptocurrencies is more profitable, Bitcoin will be a relatively safe investment medium considering its acceptability, market volume and security.

criket

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Quote from: speedforce on July 09, 2021, 05:44:34 PM

Theres Bitcoin Maximalist and Bitcoin Minimalist in this crypto space, im as Bitcoin Minimalist believe altcoin have a better opportunity for being adapted as Payment Processor. So, instead of putting most of my portfolio to Bitcoin i put my investment on Altcoin that have tech and strong community.

returns from altcoins are indeed greater. Moreover, altcoin ownership can use smaller capital. Of course, it will be more interesting.
but for those who have big capital, relying on the little hype that bitcoin creates in the market alone can make big profits. but we know how risky both are. altcoins and bitcoins have the same risk.

HexaNK

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Quote from: Samurai trieng on July 09, 2021, 12:45:27 PM

In my opinion, there are still very good cryptocurrencies to invest in besides BTC, namely Ethereum and Binance, these two altcoins have criteria that are very suitable for long-term investments, because they have a very qualified potential and prospects in cryptocurrencies, a proof that ETH and BNB are ranked an 2nd and 3rd highest altcoin in CMC and still holding up today,

caryoscar

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In addition to Bitcoin, the digital currencies I currently hold include Sushi and Monero, especially XMR.
I have held it for a long time, because XMR is the leader of the anonymous currency family, and Monero is an independent virtual currency. It is not a branch of Bitcoin, and it circumvents Bitcoin's design flaws and becomes more private and decentralized.
Monero is positioned to realize anonymous digital currency payment and transfer.
This year, my price is almost US$211, but it is still more than US$200. Although I regret that I did not sell at a high point, it does not affect my long-term holding.

speedforce

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Quote from: Magicalking on July 03, 2021, 09:48:08 AM

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?

Theres Bitcoin Maximalist and Bitcoin Minimalist in this crypto space, im as Bitcoin Minimalist believe altcoin have a better opportunity for being adapted as Payment Processor. So, instead of putting most of my portfolio to Bitcoin i put my investment on Altcoin that have tech and strong community.

_MrTuyul404

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Bitcoin is still the cryptocurrency with the most fantastic value. However, besides that there are still various other alternatives that you can use to invest.

aioc

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Quote from: Magicalking on July 03, 2021, 09:48:08 AM

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 technology behind the project and the utility is of utmost importance because it's what wise investors will be looking at before they invest their money, the news can come later but the developers should focus long term so the project can build support and community it will eventually get in the market and have a good spot there.

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