For me trading altcoins is the best way to grow bitcoins as there are major pumps and dumps in altcoin market and if you manage to buy and sell at the perfect time then it can bring encouraging results for you apart from that I don't see any other legit way to multiply my bitcoins.
It will always be the best way to grow bitcoins as many alt coins we can choose but we just need to choose those coins that has potential. Also buying and selling of bitcoins is a good way to invest your bitcoins. Because while you have some trades with alt coin, you can just simply hold it and wait for the price increase for the profit.
Yes, selecting the right altcoin would be the key here. If we fail in that then we cannot expect to grow our bitcoins. I have experiences of burning my bitcoins by investing into altcoins. The real challenge of growing our bitcoins must be finding proper opportunities, else negative earning will be inevitable.
it's really hard to find the right alt coin in my opinion, all of them are just likely to dump even those well known alt coin, and maybe you're not the only one who burned bitcoin from investing on it . I have lost an amount which I can't afford to lose before and it happened not just once
investing with one alt coin couldn't be suitable for a long term not like with bitcoin. we should find and invest new more alt coin which can be profitable for a while.
Yeah, usually alt coins even if they are really famous and well traded they just end up dying or dumping till no one wants to buy it anymore. I think investing in just bitcoin is really better than investing into other altcoins. Also do not every invest in just one alt coin. Yes it has good potential to profit but there is a greater chance to lose in these alt coins.
The basic scenario of altcoins:
1. Get a huge intro by having a high paying bounty/signature campaign.
2. Hype that altcoin and claim that the coin can overcome bitcoin.
3. Be very active in the ANN thread so people would see the name of your coin frequently.
4. Attract investors = $$$$
5. Enlist the coin in some exchanger site.
6. Dump all your pre-mined coins before the participants of the bounty sells theirs = $$$$
7. Exit the scenario by fading into another dimension.
There are even altcoin developer that stops becoming active when they finished number 4. All these coins that get hyped up become forgotten after a couple of months. So if some coin rises once again, and you think that it has a huge potential, don't fool yourself. Tell yourself that it's the same story somebody told back then.