Quick profit is the only reason why we invest in Altcoins - page 6.

Dailyscript

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Quote from: Ever-young on February 18, 2024, 09:17:16 PM

Some reason why most people invest in Altcoins can’t be far from the profit but we can’t say profit is all they see as to why they buy and use Altcoins, Bitcoin is not only being hold by those who want to use and keep it we store of value they are also being hold for long time in other to enjoy the profit that will come with it.

If we are to talk about the privacy their are also some Altcoins which are privacy coins like the monero it’s a good option for anyone who want to hide their privacy, another reason why other can invest in Altcoin is for cheap and fast transaction, look at what was happening in time of bitcoin network congestion the pressure was moving to Altcoins which where used for as alternative for transactions just as they are supposed to be Altcoin (alternative coins).

I may agree with you. But what you have said so far has proven the fact that Altcoins can only be an alternate option to what Bitcoin had to offer. There is nothing new in what the so called altcoins has brought, bitcoin has solve almost all the solution of digital currencies. And that is the reason i say an investor or crypto enthusiast cannot depend in altcoin for a long period of time.

You gave an instance of when the price of Bitcoin transaction fees was high and people start switching to other options especially business owners who recieve through cryptocurrency. Now that the trauma is over everyone has moved back to using bitcoin. Altcoins are unique because they are always available when you need them and you can have multiple choices when you want to invest in them.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

The altcoin market is floded with lots of shit project and scam project and as an investor looking for some clean project to get those profits from can be quite difficult also alt coins are very unpredictable and they are not good asset to store value since most of them have no real world usage and are dependent on bitcoin to have value themselves.

We can't write off all the alt coins some are good like monero that offers more privacy for users, Ethereum is good but I can't keep up with their gas fees, solana had the most complicated blockchain and seem to be cefi more than a defi although no real prove for my statement, but over the years it has still given good profits to investors.

radjie

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Quote from: pawanjain on February 19, 2024, 12:02:16 PM

Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

I don't know about others but I only invest in altcoins that has a potential future. If the tech behind the coin is good only then I move forward to "invest" in it.
These investments are long term and apart from that there are few short term trades that I take to make quick profits.
So you are partially correct but for long term I go for coins only after looking at it's developments.

Short-term trading on Altcoins which can provide profits but has high risks is of course done by many people because they follow the hype about certain types of coins. Although there are also those that can be used as short-term trading, but the profits are only small. As you said, potential Altcoins are more suitable as long-term investments to minimize risk and of course you can get bigger profits later.

doomloop

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

It's not always a quick profit when you invest in altcoins because they don't always go up very quickly unless or until Bitcoin goes up quickly as you said but when the bull run is around the corner, people mostly invest in Bitcoin and just as a high-risk, high-reward method, they might throw some bucks on a few altcoins just to try their luck and see if they get good returns on their investments and they generally only invest what they know their Bitcoin investment will cover even if their invested altcoins fail to provide.

So, it's more like a higher risk being taken to get a reward that is comparatively higher than the invested amount would generally generate.

bluebit25

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Focusing on opportunities without accepting reality with risks is what will lead to mistakes in investing. With altcoins, they are also simulating and explaining features and applying them to life more, so price increases will also accompany the market development process.

In the past, I also prioritized altcoins, but when I realized that money was being diverted from people's pockets, choosing altcoins only accounted for a small part of the investment in crypto, perhaps the fast standard of some people. They are measuring on a limited scale and calculating profits on that range, but a little wider, it must be admitted that bitcoin also brings fast and safe profits. So if you look at it from a general perspective, each individual will have their own choice. As long as they are ready to accept everything, investing can be kept simple and comfortable.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

OP don't generalize it, you can say most people because as talking to you I have not invested any dime in altcoin before now, though people take altcoin investment as a diversification in cryptocurrency industry, but must of those coin they invest still depend on Bitcoin to make appreciative movement, though am aware that some altcoin has the tendency of hitting high but the truth is that it can only happen during the bullrun and this bullrun is mainly concentrated in bitcoin, at this period everything about crypto looks very interesting to an extend that people might be tempted to invest in a scam project because of the drive for profit, but let's be warned there are many high speculated coin in the space and the more investors troop in for investment, the more dangerous it becomes for them.

cryptoWODL

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When asked to choose alt coins for quick profit many will say "yes" and many will say "no". I think most people's answer when it comes to investing in alt coins will be "no". Investors in altcoin prefer to invest only in promising altcoins. .

When a new altcoin hits the market, people tend to invest in those coins. I am talking about a new alt coin called Dymension (DYM) Coin. When this coin was listed on various exchanges, its price crossed around $10, but now it has dropped down to $7. When the price of this coin crossed 10 dollars those who invested in this coin after seeing the high value of this coin today but they are in loss. We all should do a detailed analysis of the project or coin we are going to invest in before investing otherwise our losses will be more than our gains

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

There is no other reason than making profit in a short term. The curiousity to make massive profit has made many look for the alternative to bitcoin which is altcoin or shitcoin as a form of investment. Just like some people chose gambling as a means of trying to make a fortune from it. Which is very difficult. One thing is certain about cryptocurrency, there is no shortcuts to success. For you to succeed in cryptocurrency, you must buy a Coin with good potential like bitcoin or etherium which has a long term duration of making profit. Rather than investing on a short term project which is pump and dump. Sometimes some people are lucky to have purchased a shitcoin that pumps so high and they sell of an make alot of bucks and that doesn't mean that it is common. Out of every 1000 coin baught I believe 4 or 6 has tendency to push higher. So it implies that the chances of buying a coin that will blow you up is very slim.

Essential10

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I think if anyone has made quick profits from altcoins then he is the supremely lucky person. I've yet to see anyone make a profit investing in altcoins in a short amount of time. Most of the times I have seen a new coin enter the market and the coin shows up quickly, I have seen many people invest in such new projects hoping to make quick profits and lose their money in a quick period of time. It is possible to get good profits from altcoins, it is better to invest in established coins in the market rather than go for quick profit coins. I think currently established top alt coins will guarantee more potential profit than new coins.

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Quote from: btc78 on February 19, 2024, 05:12:19 AM

There are lots of benefits or advantages altcoins have over bitcoin.

One would be their lower transaction fees and faster transaction times. I have seen lots of businesses that offer services or products to be paid in altcoins instead of bitcoin because if they were to pay in bitcoin, it would take them forever and not to mention the incredibly high transaction fees.

Second would be since altcoins are relatively cheaper, some investors invest their money in hopes of making huge profits. Some investors are trying to catch the ‘next bitcoin’ of course that is quite difficult to catch because no altcoin, not even ethereum, has reached the success that bitcoin has.

There are lots of types of altcoins that cater specifically to different kinds of people hence i know a lot of people who actually prefer using altcoins than bitcoin especially for everyday transactions

You say "everyday transactions", but this is only relevant for native tokens/coins of a anything chain in particular or stablecoins in general. They are not always convenient for getting quick benefits. But project tokens, regardless of the chain, are already more interesting for investment in order to obtain quick profits. For example, buy and sell $PIXEL within a couple of hours after listing and forget about it forever.

Asiska02

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

I wouldn’t say quick profit is the reason investors put their money into Altcoins as your title depicts. Cryptocurrency is not a quick money scheme and with altcoins you can’t be so sure that you’ll make money when you invest in them instantly. Some investors keep their money in some alt coins because of the potential they have for such coins in the future which they are willing to risk without minding the implications of it. Some investors can as well be viewing all cryptocurrencies as the same and on the same risk level, comparing them with bitcoin in terms of volatility also. These type of investors are mostly lucky during bull run and not instantly when they just invest.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

Quick profit is one reason for investing in alts despite of fact that btc is more secure and accepted anywhere. The other reason is get high profit which is not possible in btc Investment. BTC marketcap already surpassed 1 trillion which is high and now new investors couldn't get big profit just like those who invented before 2015. New altcoins gives opportunity to enter in early stage before trend and when any coins/token enter in trending zone we gets 10x in just matter of 10 days. I am not talking about meme coins. Any coins which are low risk and have a real yse case such as TIA(Calestia) ,Mavia and so many other example which pumped 10x nearly. some altcoins have cheap fee to transfer such as ltc,trx, matic,bnb and used for payment purpose.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

I don't know about others but I only invest in altcoins that has a potential future. If the tech behind the coin is good only then I move forward to "invest" in it.
These investments are long term and apart from that there are few short term trades that I take to make quick profits.
So you are partially correct but for long term I go for coins only after looking at it's developments.

Mate2237

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And the question is will all the altcoins will for suit and bitcoin price soar up to the sky? And if yes then it ought time you have to check all the altcoins to see if all are moving up. Investors of Altcoins only select the quality coins to invest and not anyhow coins in the ecosystem. Quick profit in cryptocurrency is the one making some people to be disappointed so if you are investing in altcoins don't think of harvesting in in a short period of time but keep it for years and see how the project and improve.

And don't invest heavily at the first two years in the project but invest what you can loss and it will not pain you if anything happens to the project. Then when you discovered that it is good to invest more then you can top more.

Lorence.xD

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Nothing's assured eitherway so I guess this is not true. Indeed due to higher volatility with altcoins' market price, it could generate 'quick' profit however to the same reason, it may also trigger sudden loss. Keep in mind that not all altcoins are having 100% recovery on its market value, especially the newly listed ones. You might take the courage to invest with new projects because of high chances for profit however same thing could happen with sudden declines on its value. Analogy is that it could go from 0 to 100 in a few days or weeks but can also go 100 to zero in a single day. You may engage with short term investments in altcoin but always mind the risk concerning price changes out of nowhere. This simply proves that there's no such thing as easy and quick way to earn profit in this industry. It will always depend on how the investor will minimize the risk present in this industry in general.

ThemFloo

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there are some who will say yes and some who won't.
because when there is an intention to invest in altcoins, of course, people who really understand.
about altcoins and how the profits and losses are.
if just to put curiosity alone mending undo the intention, to invest in altcoins.

goaldigger

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

We all came here for the profit, and I can say that many are into short profits because they are just following the hype.
There's still risk though and you should be more careful if you are going to play short, the greedy you become the higher the risk you are attracting. Altcoins are here to stay and good projects will continue to offer a good service, I don't think they are just for a quick profit because the top altcoins have their own network that can actually benefit the crypto market.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

First off, I think you posted in a hurry without cross-checking your syntax and spellings. However, your position and disposition to this whole investment thing is well understood.

Yes, it's different reasons (strokes) for different folks while they invested or are investing in whatever asset they like. We expect quite alright that whenever Bitcoin has a rally, altcoins follow suit thereafter. Sadly, we didn't experience that in the last Bitcoin move in 2021. Altcoins didn't go on a bull run to the best of my perspicacity. I know we aren't going to miss that rally this circle and that's why the whole industry is excited and gearing up.

Another reason investors put their money into altcoins is the simple logic of quantity. With a little cash they can easily get enough quantities of some alts and they expect that any zero in price that's cancelled already puts them in massive profit. So, the ROI factor is always there. Bitcoin won't give the type of ROI altcoins give within a short period of time.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

Apart from short profits, perhaps some altcoin investors think about the price fluctuations of altcoins. it can be like pump then dump and then pump again. Such market situations are normal for altcoins with a fairly large market community.
not without risk, but they take advantage of such asset price movements for greater profits. they take risks and that is what they bet on for profit. There is nothing that will provide benefits in a short time, everything is in the process of in-depth analysis.

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Quote from: Dailyscript on February 18, 2024, 09:06:34 PM

Investing in Altcoins had been what so many invested have been looking at these period. Believing that bitcoin's bull run will surely influence the price of the altcoins and hive them massive gains. Literally if bitcoin rises altcoins follow suit but this is the only reason i see that makes potential investors to invest in Bitcoin. There is no other interest as they feel its unsafe to store value or wealth, cant be used for p2p transactions and it cant be trusted to hodl for long. If you think there is any other reasons that makes investors put their money in altcoins feel free to share. I would love to know.

Its just not the quick profit as long term on good projects will make much more profit

Topic: Quick profit is the only reason why we invest in Altcoins - page 6. (Read 1132 times)