Topic: What is the purpose of investing in alts? Make Fiat Money Or Make More BTC? - page 3. (Read 540 times)

For me the purpose of investing in alts is to make more BTC, and after that will make more money. Basically the end of the purpose is money.

I want to get more fiat money that is why i am keeping investing in altcoins because i believe if i got potential  altcoins probably i got more profit from altcoins because they have large quantity, i am making always short term investment from altcoins.

If you're interested in earning fiat, you can trade in cryptos that are paired with fiat stablecoins like USDT, USDC, TUSD, etc. For example, some of the popular fiat pairs in Binance are BTC/USDT, BNB/USDT and ETH/USDT.

Otherwise if you prefer to earn BTC, then just trade in crypto BTC pairs, of which some popular ones are BNB/BTC, ETH/BTC and XRP/BTC.

Sorry I'm more interested in fiat so my aim is to make huge profits investing in coins and tokens and withdraw to fiat,maybe when I have enough fiat in my bank account I will start holding bitcoin

A part of me wants more bitcoin and another part of me is more interested in having huge amount in fiat I guess I will have to make both happen slowly and steadily

Of course I want more bitcoins. But the main goal of users is to make a profit with the withdrawal of coins in fiat currency. For many people, this is a kind of income. Many invest in altcoins in the hope of getting at least double the profit.

A while back when i asked this question about trading such as buying altcoins... such as buy an altcoin for $1 and buy say $1000 of it.  Let say btc was around $1000.  So it cost 1 btc to buy 1000 of that altcoin.  Let say price of altcoin went to $2.  You double your money.  Now if you were to sell the altcoin, you can't go directly to usd or usdt.  You need to sell for btc first.  Then people mentioned, you want to have more btc than you originally started with when you trade for altcoin.  At first that didn't make sense to me because I thought... well if altcoin goes up in price and you sell, you make profit.  Then people say well if btc went from $1000 to $3000 during the time your altcoin went from $1 to $2, you actually lose because when you sell your altcoin for btc, you are getting less btc than you put in... which would be less than 1 btc.  Such as you would only get 0.667 btc etc.  But I said well btc is worth more now.  But the point i made was well you now have $2000 fiat as oppose to $1000 fiat earlier.  Then people say well had you just kept the 1 btc, its now $3000 usd.  I said i get that... but you still make money here because you traded.



Now I said well what if the altcoin actually dropped in price from $1 to $0.50.  Then you sell it.  Well here you lost because you bought at 1 dollar, sold at 50 cent so you lose 1/2 your investment.  But say btc dropped 90% during this time from $1000 to $100.  Here... you started with 1btc... but now have 5 btc.  Obviously this is an extreme example but you understand my point.  Here, you lose usd value because 5 btc is worth only $500 if btc is 100 dollars.  But people say here this is good because you now have more btc than you started with.  Several people mention the goal of trading altcoin is to accumulate btc.  Is that true or false?



I mean i thought trading was always to get more fiat than you started with.  I completely understand the you want to have more btc than you put in part.  That makes sense.  But if you had a choice, aren't you suppose to choose you want fiat profit as oppose to btc accumulation?  Because its like some people seem to suggest, they rather lose money on an altcoin trade when they sell it back to btc... if they finish with more btc than they started with before the altcoin trade.  Thoughts on this?



But in general when you are investing in altcoins and trying to find that 5x, 10x, 50x etc... is your goal suppose to be accumulate more btc?  Or to get profit in terms of usd value?



Obviously you prefer both and you prefer investing in alt coins if both btc and alts do well but alts do much better than btc.  But if you only invest in alts, do you want altcoins to skyrocket and btc plummet?  That way you get back much more btc than you started with?  I always thought goal is to get more fiat when trading altcoins because you think it will do good.