Should I buy BTC or DCA other coins? - page 4.

Nrcewker

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Quote from: LoyceMobile on May 24, 2022, 10:29:25 AM

You're asking on Bitcointalk, so it's obvious: buy Bitcoin. Store it in your own wallet, don't keep it on an exchange.

As Loyce said, buy as much Bitcoins as you can OP.
Since the price is down, so this is the golden opportunity or you can say is the SALE going on to buy Bitcoins.
Buy Bitcoins and wait for some freaking time, and I am sure you won’t regret on your this decision.
Moreover this is just a bearish season for the coin.
Very soon the coin will again pick up his pace and will grow like rocket.
Don’t waste your money on any altcoins. Yes those will give you profits, but that will be very low than what Bitcoins will give you.
Now it’s your turn to take the decision wisely and lead your financial journey Happily.

TheGreatPython

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

I think that dca is for everything. I always saw a thread or a reply about dca'ing btc, maybe dca is really an effective way to make a profit? When you do dca, I think you are also doing an act of buying so this two can be pretty much the same. If you don't want to put your eggs at one basket then you are free to diversify it with other altcoins.

It's only strange that you prioritize altcoins over btc because you bought them first but didn't you know that altcoins are only following the movements of btc? That is why btc must be the priority of all crypto investors. But I can't do much anything about it because it has been done already and since you have altcoins, that should be enough but you can now focus more on btc.

AicecreaME

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

If you don't want to do extra work, go for Bitcoin, though it ain't that bad if you're gonna buy ETH as well. DCAing other altcoins might be an extra work and need a long period of time before you could sell it, while in Bitcoin, with its high volatility you could sell it instantly, if you're patient enough, you could have a very nice profit next bull run if you're willing to wait until that happens again.

cheezcarls

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

If I were you, I would rather do DCA with Bitcoin. I have already started that this month with my extra “not beer” money, and I am planning to do that every month to build wealth overtime. It’s a classic old school way of building wealth as we just simply keep buying regardless of the price outcome.

I am not into day trading, as I’m more of a HODLer. In my opinion, only BTC and ETH are the worthy coins for us to do DCA. With my gigs, ambassador and KOL tasks, etc., I set aside some of it to buy Bitcoin every month and store it to my hardware wallet.

For now, I am not confident about DCA’ing with SOL and DOT though.

tvplus006

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Quote from: Despairo on May 24, 2022, 10:32:08 AM

The better choice is buy Bitcoin with DCA strategy, why should DCA other coins? ETH, SOL, and DOT are centralized coins, I don't see any reason why we should trust centralized party when it's about cryptocurrency. ..

A lot of people trade altcoins only for the sole purpose of increasing the amount of bitcoin for the hodl due to the profit received from trading. So such a strategy has a right to exist. Of the OP coins listed, in my opinion, DOT has the greatest potential for growth.

NeuroticFish

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?

Short answer: stay on Bitcoin.

Long answer:

1. If you are not sure about a coin, then just stay away from it.
2. Altcoins are much riskier than Bitcoin.
3. The vast majority of altcoins don't survive or fall badly on long term, hence DCA may not make sense on them. Even ETH is expected to get in trouble after giving up PoW, but I didn't follow the story/drama much.

All in all, altcoins need you to be overly careful and probably overly lucky too, else you can easily end up in a loss.
Also, as said, if you want people advise you the altcoins, then maybe you should ask in Altcoin Discussion Cheesy

PS. This is just my logic, not a financial advice; please do as you think with your money.

GreatArkansas

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From what I experienced since I started to own cryptocurrency in a bear market, try to avoid altcoins, especially those with low market caps.
I rather buy Bitcoin during these dips rather than altcoins. Because even we will still go more on dips, I believe that the worst will be on altcoins compared to Bitcoin.
Just don't expect a high ROI for Bitcoin.

el kaka22

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How about combine the two and DCA bitcoin? That is what I am doing and I am quite happy about it as well. There is nothing wrong in doing it like this, you could make a profit by DCA your way into bitcoin, and even do instalments. I had a friend who put order on his credit card to withdraw $500 worth and buy bitcoin with it, I think it was from coinbase? Not sure which exchange but it withdrew $500 automatically on 2nd of each month, and bought bitcoin with it at whatever the price was at that point. He has been doing this for around 7 years now, he has SO MUCH money, did some other trades too of course, but it made him a wealthy person.

We all "probably" could afford that, would be hard, but could have tried it, if it meant 1+ million dollars today, but we didn't had the courage.

decodx

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Quote from: jaberwock on May 26, 2022, 01:45:52 AM

Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

You mean you want to use the money that is intended for shopping? That's no good, but if what you mean is you will shop coins then that nice. It's okay if the amount is not much, what important is you still take the effort and cost to invest. Investing too much that is outside your range can be problematic by the time you fail on your plan to hodl your coins and sell them at a loss.

You should buy btc even if you already have a btc but in your case you still don't have it, so hurry up now that price was still at 29k because sooner or later the price will climb again up to 30k or more. The alts that you lists above are also good alts so why not? You can add them in your portfolio if you like.

Well, that's up to him. If it's money meant to be used for necessities of life, then it's probably not a good idea to invest it in speculative assets such as cryptocurrency. However, if he does not need the money for everyday needs, such as money we regularly spend on luxury, then I would absolutely recommend investing some of the money in bitcoin using the DCA method. And of course, the best-case scenario would be that the investment could eventually lead to a profit of its own.

jaberwock

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

You mean you want to use the money that is intended for shopping? That's not good, but if what you mean is you will shop coins then that nice. It's okay if the amount is not much, what important is you still take the effort and cost to invest. Investing too much that is outside your range can be problematic by the time you fail on your plan to hodl your coins and sell them at a loss.

You should buy btc even if you already have a btc but in your case you still don't have it, so hurry up now that price was still at 29k because sooner or later the price will climb again up to 30k or more. The alts that you lists above are also good alts so why not? You can add them in your portfolio if you like.

nurilham

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BTC for sure is the main and first recommendation to buy moreover during this dip or even for the investment during bearish market. It has been proven that Bitcoin will always have a high increase from bearish to bullish.
Different from altcoins in which not all altcoins are able to pass the ATH and create new ATH again in the next bullish era. So, I ma sure enough to collect more Bitcoin is better than altcoins. But, if we want to diversify into some investment, just hold the top altcoins, never put high risks on shitcoins

Shasha80

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

My advice is that you immediately buy Bitcoin now, if as you say now you do not have Bitcoin in your portfolio. Because after all Bitcoin is the best
coin so far, and even if you study again, Bitcoin is the safest as an investment option. So don't let you regret later because you don't invest in Bitcoin,
actually some of the altcoins you mentioned are also quite good to buy. But if we compare with Bitcoin, of course Bitcoin is much more I recommend
to buy. Especially in a bearish market situation like now, investing in Bitcoin should be our top priority. Because the risk is much greater if we force
an investment in altcoins, after all the price of altcoins is always affected by the price of Bitcoin. So it doesn't matter if you want to invest in altcoins,
but don't forget to invest in Bitcoin too. In fact, I highly recommend that you buy 70% of your capital in Bitcoin and the remaining 30% can be bought
for some potential altcoins.

Natalim

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

- You can do DCA as long as you are not on the losing side but I suggest just keeping ETH on your wallet. SOL/DOT to BTC
- Or, just buy Bitcoin while the price is cheap and might consider buying some of Bitcoin for additional investment.

Well, nobody will forbid you from spending it as somehow just really it means to be considering that Bitcoin is also a form of currency.

In regards to SOL and DOT, we can expect a deep crash among altcoins and they don't have such escape about it. You can make a good trade if you just hold them.

lalabotax

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During this crash market, I will keep buying Bitcoin if I have money enough. However, I will watch the market first. I am thinking of collecting money and b8uying the Bitcoin when the bearish market is exactly at the bottom or around this. When the price of Bitcoin has been under $20k, I think that I will start adding Bitcoin to my portfolio.
I will focus only on Bitcoin because this coin has been proven so far with its value and also market cap. Alternatively maybe I want to do DCA on some altcoins, but only on ETH and BNB

sklopan

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I think that now everyone should draw a specific conclusion - is it worth taking such a step and investing in these currencies. For while the situation is not conducive to this a little.

Vaculin

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

Since prices are down, I am going to spend some money for shopping. Not a lot, just what I can spend.
Now the question is, should I buy BTC (currently I don't have any BTC) or should I do DCA for ETH, SOL or DOT?
Now the reason I am asking this question is I have some of ETH, SOL and DOT, and I still consider that my ETH and DOT average prices are little bit higher, so DCAing would be nice option. But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

Since you are skeptical with those other coins, then focus on buying bitcoin through DCA. That way, you will always have a good amount of bitcoin in your portfolio because you never miss the chance to buy at every price drop. And with those altcoins you wish to invest like SOL and DOT, DYOR first before you decide to invest. I won't suggest to buy them or not, trust your own analysis so you won't regret in the end.

Dart18

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Bitcoin. That's the first you should have and there's no doubt about it even for most of the members here. A must have coin.
Now, you will get bored because you just have one type of coin so you would like to buy another to keep yourself busy from monitoring it daily. Ethereum should be next on that list. But again, you will be tempted to buy more, so my tip is just stay on the top coins which have high trust rating, that way you won't be like other investors who are now regretting their decision to buy high risk projects.

YOSHIE

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Quote from: a298b112 on May 24, 2022, 10:25:30 AM

But then, given that the I am little concerned what might happen to SOL and DOT in this phase of the market. Anyway, thanks.

The state of the crypto market, is a little worried, where changes can occur suddenly unexpectedly, not a few crypto users this year have had bad luck with several types of crypto, however for me if the main goal of holding crypto types like SOL & DOT for long term investment I will probably keep it for next 2-3 years.

But it's a different story if you trade in the crypto market, the current situation with the charts can change in a matter of minutes, for example: today the price is $29k tomorrow to $30k, for me personally, of course I will choose Bitcoin for trading now.

lombok

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Quote from: pantek talacuik on May 24, 2022, 10:59:07 AM

Quote from: lombok on May 24, 2022, 10:43:18 AM

Quote from: LoyceMobile on May 24, 2022, 10:29:25 AM

You're asking on Bitcointalk, so it's obvious: buy Bitcoin. Store it in your own wallet, don't keep it on an exchange.

I agree with you.
Buy Bitcoins the DCA way. BTC has a more reliable guarantee than other crypto coins on the market. I'm afraid that if the OP chooses the wrong coin other than bitcoin, it will lead to huge losses. It has been proven since its appearance in 2009, BTC is able to provide benefits, when compared to other coins that tend to scam and fraud.

It's predictable that Bitcoin's performance increases every year even though there is a very bad downward graph but it only lasts not long. Don't hesitate anymore with Bitcoin because you can see for yourself what you've been through.

It's true, historically the price decline called the crypto winter is indeed natural as a reaction to the formation of a new ATH BTC during the bullrun to find a new support for Bitcoin. When Bitcoin finds its new support level, BTC will return to its new ATH after the 2024 BTC halving

leea-1334

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I think any good coin works with DCA,,, but I might as well say a good coin only means ETH and BTC. I know everyone is talking about BNB and SOL and ADA or whatever but these coins honestly speaking do not have any utility other than artificial ones created by their creators.

Nobody ever uses BNB if they are not just trying to switch things for cheap/fast but ETH 2.0 will turn that obsolete.

Topic: Should I buy BTC or DCA other coins? - page 4. (Read 608 times)