Experts caution that Bitcoin is highly speculative, and altcoins are even more so. Ethereum, the most widely heard-about altcoin, has grown significantly since its 2015 launch, thanks to its smart contract capabilities and the popularity of digitally scarce art known as non-fungible tokens (NFTs). ETH has a market cap of more than $500 billion at the time of writing this article.
But don’t let the popularity of altcoins result in fear-of-missing-out (FOMO). Even crypto evangelists view the rise of cryptocurrency with some healthy skepticism.
“Everyone always looks at other people making money and they’re like, ‘what about me?’” says Nelson Merchan, CEO of blockchain events firm Light Node Media “But I think that the beauty of what crypto really allows us to do is reassess our relationship with money
Topic: What's your reason for buying altcoins? - page 12. (Read 2904 times)
Of course for the profit isn't it the reason why we are all here in crypto?
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
Altcoins provide an excellent opportunity to make a profit, which is often several times higher than the potential profit from bitcoin. In this case, you can use the resulting profit to increase the amount of bitcoin that you hold. But when investing in altcoins, you need to carefully select coins to buy, otherwise you will receive a loss instead of profit.
My reason to buy altcoins is to make profit. They usually have wilder fluctuations in price, than Bitcoin itself. But I wouldn't take them as a serious investment (except for Ethereum) simply because they can instantly "disappear" in a blink of an eye. I don't believe any other cryptocurrency will be able to surpass both Bitcoin and Ethereum, because these two have first mover advantage. Not only that, but they're the most decentralized cryptocurrencies in the world. Other coins may be faster and cheaper to use, but they lack security & reliability. It's why most investors trust BTC and ETH more than anything else.
Depends on the type of altcoin you invest. Not many coins disappear in blink of an eye, many of them still stay around, they may go down but they are still around. I get that XRP for example reached second ranked for a while, but now it is at 8th, which shows that it didn't go up as much as others, or BCH and BSV duo never liked by the community too much and it dropped in rank a lot as well they are very low now. These are just three examples, there are plenty of them around.However that doesn't mean that most of the coins are like that, if you invest into something fundamentally sound then you will not be losing too much profit from them as well. I feel like they are definitely things that people could invest easily and then they could forget about it for 10 years and when they come back they will have plenty of profit as well, you just have to find them.
Please vote in the poll and explain your reasoning below...
Mid-way though Bitcoin's 2017 bull-run, Coinbase, the largest crypto exchange at the time, only offered the choice of three coins - BTC, ETH & LTC - before Binance even existed. Ethereum and Litecoin outperformed Bitcoin that year, especially after many new users saw their values had already increased much more than Bitcoin had, while only being given 3 investment choices.
Since May 2021 altcoin's market share has been around 60% of the total crypto market, confirming that the majority of investors are drawn towards altcoins rather than Bitcoin these days. Coinbase now has over 100 different altcoins, while the largest exchange now offers a choice of over 400 options. The days of turning to shady exchanges like Bittrex, Yobit and Cryptopia have long since passed.
But what is your reason for buying and holding these coins? What type of profits (fiat/btc/eth/other) are you hoping to achieve and have you already taken profits?
Do you genuinely believe any of your altcoins can genuinely surpass Bitcoin or Ethereum's market values in near future?
Mid-way though Bitcoin's 2017 bull-run, Coinbase, the largest crypto exchange at the time, only offered the choice of three coins - BTC, ETH & LTC - before Binance even existed. Ethereum and Litecoin outperformed Bitcoin that year, especially after many new users saw their values had already increased much more than Bitcoin had, while only being given 3 investment choices.
Since May 2021 altcoin's market share has been around 60% of the total crypto market, confirming that the majority of investors are drawn towards altcoins rather than Bitcoin these days. Coinbase now has over 100 different altcoins, while the largest exchange now offers a choice of over 400 options. The days of turning to shady exchanges like Bittrex, Yobit and Cryptopia have long since passed.
But what is your reason for buying and holding these coins? What type of profits (fiat/btc/eth/other) are you hoping to achieve and have you already taken profits?
Do you genuinely believe any of your altcoins can genuinely surpass Bitcoin or Ethereum's market values in near future?
My reason to buy altcoins is to make profit. They usually have wilder fluctuations in price, than Bitcoin itself. But I wouldn't take them as a serious investment (except for Ethereum) simply because they can instantly "disappear" in a blink of an eye. I don't believe any other cryptocurrency will be able to surpass both Bitcoin and Ethereum, because these two have first mover advantage. Not only that, but they're the most decentralized cryptocurrencies in the world. Other coins may be faster and cheaper to use, but they lack security & reliability. It's why most investors trust BTC and ETH more than anything else.
I've already placed my vote, and was not surprised to see the majority voted for the same thing (choosing alts for profit). After all, most people are into crypto to become rich quick. What ultimately matters is the usability of any given cryptocurrency. As long as the cryptocurrency you're investing into provides real use cases to the mainstream world, nothing else matters. Remember, it's not about hype but rather "concrete results". You'll be on a road towards non-stop success if you play your cards right. Just my thoughts
Of course for the profit isn't it the reason why we are all here in crypto?
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
Logically speaking, I will agree with you. Crypto is mostly used as an investment and we can't hide that fact. That's the main reason why crypto is being hyped and investors are all coming in, to expect a good profit in the long run.
New users entering the crypto market should just make sure they are well prepared for those risks that will face. Crypto might give us a good and decent profit but that's not that simple as they think.
Of course for the profit isn't it the reason why we are all here in crypto?
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
You are right but only for some people. Some may have other view for to be in altcoins. Some will want to gain the community of a particular coin and will adopt that coin to be announced in that community. Some will want to give convenience to their customers and will adopt a coin for their customers and some will want a single payment system for the whole world as online payment processors often limit some countries. To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
Of course for the profit isn't it the reason why we are all here in crypto?
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.
Don't you guys think that all the options are relevant ? If we buy altcoins we do expect it to go to the moon.
We hope that the price pumps up which eventually means that it's value in BTC, ETH and USD will go up as well.
Well I particularly buy altcoins so that my over portfolio remains balance and increases potentially in the long term.
that is one of the option for which I also bought some Eth today but other than that there are many other options or reasons for which we buy altcoins one of them is the low fees of transaction. I often keep some amount in those altcoins which have smaller fees of transaction. I also keep some coins in BNB for trade on binance and in the same way we keep many other for different purposes tooWe hope that the price pumps up which eventually means that it's value in BTC, ETH and USD will go up as well.
Well I particularly buy altcoins so that my over portfolio remains balance and increases potentially in the long term.
That's really a good strategy to save some amount of money in altcoins to use it for transactions with lower fees.
But in my case, I never need the money for transactions as I am in it just for the investments.
So I mostly hold it in bitcoin and popular altcoins and grow my networth over time.
But yeah, whenever I do make transactions I don't bother to spend few extra dollars to get the transaction done.
I already have several altcoin portfolios to prepare for the next bull run to happen again but the main altcoins in my portfolio are investing in crypto while looking for profit when prices go up. There are many reasons why people buy altcoins, especially today the market is red, an opportunity for traders to gather. top altcoins and real happening everyone wants to profit on crypto future.
What specific altcoin have you stock maybe become several coin recommended for me to buy back, I am still waiting with dip price and want to buy back BNB on $310 because last two week I loss opportunity without have saving money when BNB dump. I think many people and investor are buying back with BNB coin and they can get much profit one day later if BNB back above $500. Still can't investing when have good chance to buy back BNB and now I have about $8000 waiting for buying back BNB if really dump again. 
I think altcoin have potential with much profit than bitcoin trough not have enough money for investing, some altcoin can pump almost 40% in daily day or long term investment and can't reach almost higher percent with bitcoin and this why I keep holding and investing with altcoin only. Never take investing again with bitcoin after price pump and always altcoin as my favorite coin for trading or investing with long or short term. I think have many potential and earn profit more than 300% by investing with altcoin than try to invest with bitcoin because under $2,000 looks very little profit earn in bitcoin investment.
What happens is that many people think that altcoins can give them better returns than BTC itself because it can suddenly rise 30 or 40%, but they forget that if BTC falls, altcoins bleed impressively, and this has to be taken into account so that everything that has to do with investment is thought about, in fact before buying altcoins, it is always good to review the panorama with BTC, because if a good bullish movement is coming and if the person manages to predict it, The best time to buy any altcoin is that, because if BTC is doing well, obviously altcoins are also doing well because they are a direct consequence of BTC, that is, all altcoins depend directly on BTC.
I think altcoin have potential with much profit than bitcoin trough not have enough money for investing, some altcoin can pump almost 40% in daily day or long term investment and can't reach almost higher percent with bitcoin and this why I keep holding and investing with altcoin only. Never take investing again with bitcoin after price pump and always altcoin as my favorite coin for trading or investing with long or short term. I think have many potential and earn profit more than 300% by investing with altcoin than try to invest with bitcoin because under $2,000 looks very little profit earn in bitcoin investment.
on the other hand when you say that you are short of money to be in bitcoin, you are actually too naive. You are looking for an excuse not to be there even though when you invest in bitcoin you can and don't need to buy one or two because there we are free to buy anything.As for the altcoins, don't forget that they are still following bitcoin and when bitcoin crashes then indeed they will also follow on the other hand the movement is also quite slow because when bitcoin goes down, they also follow down. but when bitcoin goes up they don't necessarily follow directly
In that case, investing with Bitcoin while holding altcoins would be a good option. The profit that we could take from altcoins could also be reinvested in Bitcoin because yes, most altcoins are Bitcoin dependent. The movement of altcoins relies on Bitcoin so it will still be an advantage if you'll invest with BTC and other altcoins and I'm sure that it will always be worth it.
I think altcoin have potential with much profit than bitcoin trough not have enough money for investing, some altcoin can pump almost 40% in daily day or long term investment and can't reach almost higher percent with bitcoin and this why I keep holding and investing with altcoin only. Never take investing again with bitcoin after price pump and always altcoin as my favorite coin for trading or investing with long or short term. I think have many potential and earn profit more than 300% by investing with altcoin than try to invest with bitcoin because under $2,000 looks very little profit earn in bitcoin investment.
on the other hand when you say that you are short of money to be in bitcoin, you are actually too naive because you are looking for an excuse not to be there even though when you invest in bitcoin you can and don't need to buy one or two because there we are free to buy anything.As for the altcoins, don't forget that they are still following bitcoin and when bitcoin crashes then indeed they will also follow on the other hand the movement is also quite slow because when bitcoin goes down, they also follow down. but when bitcoin goes up they don't necessarily follow directly
the reason I bought altcoins is because I know the potential of the development of cryptocurrencies and blockchains today which will be one of the factors for technological progress that is greater than now
and I think it's better to buy altcoins now or too late
Is it for that reason that you bought altcoins while currently there are still many undeveloped altcoins that have become shitcoins for many reasons including fraudulent schemes etc.?and I think it's better to buy altcoins now or too late
If the reason is due to technological developments, of course the main coin is Bitcoin, namely Bitcoin as the first coin.
Remember altcoins are very slow to grow when they are a big drop unless in your portfolio pick some of my top altcoins they are safe enough to last longer than useless meme coins.
Don't you guys think that all the options are relevant ? If we buy altcoins we do expect it to go to the moon.
We hope that the price pumps up which eventually means that it's value in BTC, ETH and USD will go up as well.
Well I particularly buy altcoins so that my over portfolio remains balance and increases potentially in the long term.
that is one of the option for which I also bought some Eth today but other than that there are many other options or reasons for which we buy altcoins one of them is the low fees of transaction. I often keep some amount in those altcoins which have smaller fees of transaction. I also keep some coins in BNB for trade on binance and in the same way we keep many other for different purposes tooWe hope that the price pumps up which eventually means that it's value in BTC, ETH and USD will go up as well.
Well I particularly buy altcoins so that my over portfolio remains balance and increases potentially in the long term.
That's really a good strategy to save some amount of money in altcoins to use it for transactions with lower fees.
But in my case, I never need the money for transactions as I am in it just for the investments.
So I mostly hold it in bitcoin and popular altcoins and grow my networth over time.
But yeah, whenever I do make transactions I don't bother to spend few extra dollars to get the transaction done.
I think altcoin have potential with much profit than bitcoin trough not have enough money for investing, some altcoin can pump almost 40% in daily day or long term investment and can't reach almost higher percent with bitcoin and this why I keep holding and investing with altcoin only. Never take investing again with bitcoin after price pump and always altcoin as my favorite coin for trading or investing with long or short term. I think have many potential and earn profit more than 300% by investing with altcoin than try to invest with bitcoin because under $2,000 looks very little profit earn in bitcoin investment.
the reason I bought altcoins is because I know the potential of the development of cryptocurrencies and blockchains today which will be one of the factors for technological progress that is greater than now
and I think it's better to buy altcoins now or too late
and I think it's better to buy altcoins now or too late
The reason I personally buy altcoins is none other than, of course I want to make a profit, I have no intention of making altcoins a collection, my goal is just to make a profit, of course I will exchange everything with fiat currency, working during a pandemic is very difficult, so this is the only way i can do to be able to make money..
This is the reason majoring are interested in the cryptocurrency industry so I would say this is no longer a reason because already we know you want to make money. We now have many altcoins out there but there has to be a reason when you will invest in this particular altcoins instead of others. You can say because that is most likely to give you more more quickly but why, what is the reason you think that altcoin is most likely to succeed.
Discussion like this is what I what to hear when reading threads on why you invested in a particular altcoins and not just because of the general assumptions that you will profit from such investment. We have different altcoins and they all have what they do and problem they are solve, why do you believe yours will perform better or you just invest from hype?.
May 2021 altcoin's market share has been around 60% of the total crypto market, confirming that the majority of investors are drawn towards altcoins rather than Bitcoin these days. Coinbase now has over 100 different altcoins, while the largest exchange now offers a choice of over 400 options. The days of turning to shady exchanges like Bittrex, Yobit and Cryptopia have long since passed.
But what is your reason for buying and holding these coins? What type of profits (fiat/btc/eth/other) are you hoping to achieve and have you already taken profits?
I disagree with you on the fact that you said more investors are drawn towards altcoins than bitcoin, we all know that is not the truth. Bitcoin alone has a market dominance of over 40%, that is really huge,because we know that there are so many altcoins in the market, and all of them makes up the 60% you’re talking about.But what is your reason for buying and holding these coins? What type of profits (fiat/btc/eth/other) are you hoping to achieve and have you already taken profits?
If you check these coins individually, you would see that they really have nothing at all, except Ethereum that has a dominance of 18% which is far more better than most of the other altcoins.
As for the reasons why I am investing in altcoins, it is for me to make profit. If not for profit, then I don’t see any other reason why I should be investing in the market.
Don't you guys think that all the options are relevant ? If we buy altcoins we do expect it to go to the moon.
We hope that the price pumps up which eventually means that it's value in BTC, ETH and USD will go up as well.
Well I particularly buy altcoins so that my over portfolio remains balance and increases potentially in the long term.
that is one of the option for which I also bought some Eth today but other than that there are many other options or reasons for which we buy altcoins one of them is the low fees of transaction. I often keep some amount in those altcoins which have smaller fees of transaction. I also keep some coins in BNB for trade on binance and in the same way we keep many other for different purposes too We hope that the price pumps up which eventually means that it's value in BTC, ETH and USD will go up as well.
Well I particularly buy altcoins so that my over portfolio remains balance and increases potentially in the long term.
Actually it is very easy to determine the investment position at this time, if someone likes long-term investments, then he can use the current conditions to buy more coins, but if he likes it only in the short term, then he should really choose the right coin for him to buy at this time
I don’t really think anyone who is investing or trading short term, has to be looking for a particular time to get into the market and start trading or investing. A day trader or short term investor can invest at anytime they see the opportunity, it doesn’t matter whether it is during a bearish trend like we are currently in now, or a bullish trend, what matters to them is seeing that short term opportunity that they can utilize and make profit like.But when you are a long term investor, you will have to worry about investing at the right time, so that you will be able to hold it for as long as you can and then get your profit.
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