Topic: Is it worth buying other cryptocurrencies other than bitcoin? - page 7. (Read 5734 times)
For investing purpose in its currency.it is worth buying other cryptocurrencies other than bitcoin . But firstly make sure that you have bought bitcoin first before altcoin.
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?
If you buy bitcoin then, you gain big profits now and also etherium if you buy it when its price is low, you gain big profits also now. But as you say that you cannot afford bitcoin then because its price is high maybe you consider to buy a little amount of it, you can also benefit in gaining profits not that big but surely your money will be back. Considering that bitcoin is the best in cryptocurrency world there are also altcpins out there that is worth buying for you to gain profits, you can go to the coinmarketcap for you to chose the top altcoins that is good to invest with your money. 
Bitcoin the best online cryptocurrencies which is very much important for long periods investment but some others coins also have a good protential possibilities for long periods investment. Ripple, dogecoin and binance coin also have good profits possibilities.
In my own perception, nowadays there are a lot of altcoins in the market that has a potentials to increase in the future.
Although, I cannot deny also that there are a lot of shit coins pretending to be a potentials but the truth is not. Meaning, in this way of
happening now in the market it really needs a research to avoid high risk.
Although, I cannot deny also that there are a lot of shit coins pretending to be a potentials but the truth is not. Meaning, in this way of
happening now in the market it really needs a research to avoid high risk.
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?
This probably means you didn't do your research properly. So you shouldn't be investing on anything if you haven't. Bitcoin and ethereum are two different platforms with different use case. Almost every (other than those shitcoins and clone coins) crypto currency was made with different use cases. You can't compare any of those. To answer your question, yes it is worth investing depending on why you are investing. Is it because you want to use their platform? Or is it because you want to make profit? Of course, the purchase is based on the utility of the token. The team behind the project, as well as the technology and development prospects of the coin. All top coins are great long term investment. And personally, I think that it is very promising to have the first ten or more cryptocurrencies from the coinmarketcap list in your portfolio.
altcoins can be a very good alternative for profit, we can take advantage of market volatility with altcoins to maximize profits. If btc is effective for the long term, then altcoins can be used for short to medium term investments. just look at there are many projects that can achieve profits of up to hundreds of percent in just a short time. what is needed is carefulness in choosing a project, and also luck. By dividing the portfolio, it can increase profit opportunities and reduce risk because we don't put eggs in one basket.Diversifying your portfolio is indeed a smart choice when it comes to investments.
However, one should really assess each coin that he wants to get involved with.
Aside from btc, of course, there are other alts that are worth looking at.
Just take for example ETH or BNB, which for me are very worthy to consider to be included in your portfolio.
Make sure that they have strong use case and active development. And you need to keep up with their updates.
Because if a project is quiet for very long time, that's not a very good sign as they may have abandoned the project already.
Good question OP I think only 20% or less of all investors that are buying based on utility and tokenomics most crypto buyers are for speculations and quick profit thats what I can see especially newbies in crypto they really dont care about its uses, fundamentals etc, they are looking if they can profit 100x in just 5 days lol.
I agree many investors want quick profit and they are going to pick a short term project that will likely give them profit than projects that will take some time for them to yield profit, but it's the long term profit that will guaranty your profit, these short term projects that are considered high risk are very risky especially those on the decentralized markets where liquidity providers can pull out liquidity, and will leave you a worthless coin.
Of course, the purchase is based on the utility of the token. The team behind the project, as well as the technology and development prospects of the coin. All top coins are great long term investment. And personally, I think that it is very promising to have the first ten or more cryptocurrencies from the coinmarketcap list in your portfolio.
altcoins can be a very good alternative for profit, we can take advantage of market volatility with altcoins to maximize profits. If btc is effective for the long term, then altcoins can be used for short to medium term investments. just look at there are many projects that can achieve profits of up to hundreds of percent in just a short time. what is needed is carefulness in choosing a project, and also luck. By dividing the portfolio, it can increase profit opportunities and reduce risk because we don't put eggs in one basket. Yes of course, yesterday I bought RABBIT tokens for a few dollars and now the profit is more than 1000%. So in my opinion buying cryptocurrencies other than Bitcoin is still worth it. The point is to learn in advance the token you want to buy and its future prospects.
We all do our best research on bitcoin before investing in any altcoins. You shouldn't forget about the probability of altcoins which altcoins numbers are 10k. As numbers are high, chances are also high. I also believe in altcoins chances because of so much profit. I can mention so many names, but we're all lucky to choose Rabbit 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?
If you are not buying other coins then you are losing an opportunity to gain more profits from other coins, it's highly advisable to not put all your eggs in one basket, yes Bitcoin is good but it's not profitable at all times and there are times that other coins are profitable while Bitcoin is dipping and besides exploring some coins gives you knowledge on how far the technology have gone.
Yes and there are several good coins out there, which by the way also perform better than the number one coin.
Just remember not to buy any coin that comes your way becausewe have a handfulof shitcoins, you need to do some research and look at some charts if you can and also see were this coin is listed and you will get a worthy altcoin to invest in.
Just remember not to buy any coin that comes your way becausewe have a handfulof shitcoins, you need to do some research and look at some charts if you can and also see were this coin is listed and you will get a worthy altcoin to invest in.
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
You don't need to buy 1BTC at once, you can buy any amount that you can afford although it is only around $50. And about Ethereum, this is the altcoin, alternative coins. there are so many altcoins. But yeah, if we are a beginner, better to think very carefully and learn at first smartly before investing.
Bitcoin is the king of crypto, and there are also some promising altcoins such as Ethereu. we can also see the rising price of ETH following BTC.
I am personally trading and investing BTC, but also trading and investing some on altcoins (but of curse top coins to minimize the risks).
if you don't have enough capital to buy BTC then you can buy 0.5 BTC or buy other cryptos that do have good prospects because there are also many good coins to invest besides BTC. You can choose long term investment or short term investment. if you really want a long-term investment then you have to be more patient to wait until the price is high. I suggest if you want to try investing then you can choose short-term investments. choose a coin that is good and stable enough in the market so that it can minimize losses. investing in crypto can be profitable if we can be patient and more careful in making decisions to sell assets owned.
Of course, the purchase is based on the utility of the token. The team behind the project, as well as the technology and development prospects of the coin. All top coins are great long term investment. And personally, I think that it is very promising to have the first ten or more cryptocurrencies from the coinmarketcap list in your portfolio.
Yes of cause. When I started cryptocurrency trading I actually started trading more Altcoins than Bitcoin but the only thing was we first needed to buy Bitcoin to now buy the Altcoins because it wasn't like now that we have even Fiat buy options. Altcoins are good to buy too but you must know which ones so that you don't get hung up.
If a person likes to risk, have appropriate trading analytics skills, then why not buy altcoins, as they can make someone more wealthy in a period of time, shorten than Bitcoin will need. I have divided crypto in two parts for myself. Bitcoin - it will take long period of time to become richer. Altcoins - becoming richer wont take much time, but it is way more risky. For me it is stability versus time. And you cant choose both options. Everyone chooses his own path.
Each cryptocurrency has advantages and disadvantages.
One of the advantages of Bitcoin is its nature as a crypto currency, with an increasingly sophisticated Hash Rate (level of complexity of cryptographic algorithms), public trust is also increasingly guaranteed to avoid risks such as counterfeiting.
Then if we look at the drawbacks of Bitcoin, it is speculative (in terms of value). Its value is determined by the number of people or business units that accept Bitcoin. If more and more people use it, its value will continue to increase. On the other hand, if it is less, the implication is that the selling price will fall.
Likewise with other cryptos such as ETH, XRP, BCH, LTC and so on.
So before buying Cryptocurrencies, it would be nice if we first learned about the crypto.
One of the advantages of Bitcoin is its nature as a crypto currency, with an increasingly sophisticated Hash Rate (level of complexity of cryptographic algorithms), public trust is also increasingly guaranteed to avoid risks such as counterfeiting.
Then if we look at the drawbacks of Bitcoin, it is speculative (in terms of value). Its value is determined by the number of people or business units that accept Bitcoin. If more and more people use it, its value will continue to increase. On the other hand, if it is less, the implication is that the selling price will fall.
Likewise with other cryptos such as ETH, XRP, BCH, LTC and so on.
So before buying Cryptocurrencies, it would be nice if we first learned about the crypto.
Yes of course, yesterday I bought RABBIT tokens for a few dollars and now the profit is more than 1000%. So in my opinion buying cryptocurrencies other than Bitcoin is still worth it. The point is to learn in advance the token you want to buy and its future prospects.
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?
For long term investments, best approach would be to check the fundamentals.
FA is what determines your long term investments, while TA is what could determine short term ones
Bitcoin is the king of encryption and is widely recognized. If you invest and hold it for a long time, Bitcoin will be the best choice. When investing in altcoins other than Bitcoin, you must first understand and choose a currency that is more reliable and has long-term development. In order to reduce investment risks, you can choose to diversify your investment.
If you have set yourself the task of making money on the crypt, then it will be difficult for you to achieve such a goal without trading altcoins. It is the increased volatility of altcoins that gives us the opportunity to increase our deposit by tens of percent, while the price of BTC changes by 3-5%.
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