Why are altcoins important? - page 12.

Dunamisx

hero member

Activity: 952

Merit: 555

20BET - Premium Casino & Sportsbook

Quote from: Cryptoababe on October 21, 2023, 07:55:10 PM

Altcoins are important. But I don't really have any skill to take profit when they pump. But these days, I use Bitget smart portfolio bot to automatically take profit from some altcoin and buy Bitcoin. That's because I Pair most of them with Bitcoin.

As you already know that altcoins are very volatile when it comes to their value, they can suddenly change at anytime to rise or fall, they can make one rich all of a sudden and also turn one to loose his asset the same way, this means we cannot perfectly predict how they may go by, if most people can use your own personal approach thesame way to set a target and withdraw their altcoins to bitcoin each time the limit set is reached, maybe it could have been more better a little, but that doesn't guarantee for no more risk involved as before.

Silver005

member

Activity: 212

Merit: 12

Altcoins, or alternative cryptocurrencies, have become increasingly important in recent years. While Bitcoin is the most well-known cryptocurrency, there are a growing number of altcoins that offer unique features and benefits. So, why are altcoins important?
First, altcoins offer increased choice and diversity. With hundreds of altcoins available, users can find one that best suits their needs. Some altcoins focus on privacy, while others offer faster transaction speeds. This variety allows users to find the cryptocurrency that best suits their needs and preferences.
Second, altcoins often provide opportunities for innovation.

Altcoins, or alternative cryptocurrencies, have become increasingly important in recent years. While Bitcoin is the most well-known cryptocurrency, there are a growing number of altcoins that offer unique features and benefits. So, why are altcoins important?
First, altcoins offer increased choice and diversity. With hundreds of altcoins available, users can find one that best suits their needs. Some altcoins focus on privacy, while others offer faster transaction speeds. This variety allows users to find the cryptocurrency that best suits their needs and preferences.
Second, altcoins often provide opportunities for innovation.

Essential10

full member

Activity: 448

Merit: 130

Bitcoin is undoubtedly the best currency in the world. An altcoin is any cryptocurrency other than Bitcoin. Soon developers began trying to improve upon Bitcoin. Some of the crypto currencies we have today have started trying to create entirely new coins for new use cases.Of the altcoins that have hit the market in the world, only a few have peaked in popularity. But the popularity of Bitcoin is beyond the reach of other altcoins. Bitcoin analysts claim that these altcoins will continue to grow in popularity along with the rise in price and popularity. At some point, altcoins will serve as the standard exchange rate alongside Bitcoin.

Belarge

full member

Activity: 574

Merit: 100

Eloncoin.org - Mars, here we come!

Quote from: Cryptoababe on October 21, 2023, 07:55:10 PM

Altcoins are important. But I don't really have any skill to take profit when they pump. But these days, I use Bitget smart portfolio bot to automatically take profit from some altcoin and buy Bitcoin. That's because I Pair most of them with Bitcoin.

I don't triggered partial profits because that's kind of way of earning smaller profits. Altcoins are very important to the existence of the blockchain technology and cryptocurrency. After bitcoin, we have altcoins and memecoins that make traders records loses but I do ensure milking the system was among my plans daily because that's the only stream that pushes one into the system. Altcoins have always been my main entries when it comes to bagging coins for both short and long term, I often misses out on some and earn enormous from the available ones I've invested on.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: bayu7adi on October 24, 2023, 01:20:09 AM

For anyone who enjoys high fluctuations and meme coins, altcoins are the answer. While they serve as complements to Bitcoin, the presence of altcoins is also crucial for steering the blockchain world towards greater specificity. Additionally, some altcoins can offer functions beyond mere P2P transaction media.

What altcoin investors need to be cautious of is the abundance of scams and the sudden emergence of "dead coins." LUNA serves as a tangible testament that not all altcoins are perfect. The freedom offered by the crypto community is exploited by scammers to infiltrate the crypto world with false agendas. Personally, I allocate only a small portion of my funds to altcoins because I'm not inclined to embrace high volatility.

If you play your cards right, altcoins can make wonders in your financial life. They often experience high volatility due to their low liquidity (compared to Bitcoin). You can take advantage of the volatility to buy/sell coins for a profit. For a much safer bet, Bitcoin would be the ideal choice for long-term investing. I'd say neither Bitcoin can't exist without altcoins or vice versa. They complement each other.

You can see how developers test new features on altcoins before rolling them out on the main Bitcoin blockchain. Yet, altcoins depend on Bitcoin to reach a new ATH. If BTC goes up, so does most of the altcoins being traded on the market today. Ultimately, the market will decide which coins stay afloat and which ones fade away into oblivion. As long as decentralization wins, nothing else matters. Cheesy

carlisle1

hero member

Activity: 2772

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: redsun114 on October 24, 2023, 01:05:33 AM

Quote from: shadidalam0912zx on October 16, 2023, 05:06:18 AM

Altcoin investing carries risks and opportunities. Diversify, research, and manage risk. Avoid scams. Decide on a long-term or short-term strategy, and control emotions. Consult financial experts and stay informed.

A person who does everything that you've mentioned at first wouldn't need to consult with financial experts, all they need is to stay informed about everything happening around the industry, get every news revolving around cryptocurrencies and their developments, keep doing research about coins and tokens they find appealing, and obviously, as you said, take decisions with a clear mind without getting emotionally influenced for any given reason.

Risks will always exist in a financial market that is volatile and unpredictable, but risks can be managed and reduced by constant work and dedication. A trader or an investor who is patient and dedicated to their craft will achieve success eventually despite all the failures and hurdles they might have to face along the way.

Risk can be managed with the right sets of knowledge about the business that you are working with, I think volatility can use as edge
with those who are lazy investing without doing any research.

With the knowledge you acquire from time to time that you trade, will serves as a good experienced to anticipate the next market run.

It will be your advantage when placing your position and also advantage when everyone is already in fear as you can keep that
trust knowing that it will be possible to bounce back to the value that you anticipate happening.

bayu7adi

hero member

Activity: 1470

Merit: 558

dont be greedy

For anyone who enjoys high fluctuations and meme coins, altcoins are the answer. While they serve as complements to Bitcoin, the presence of altcoins is also crucial for steering the blockchain world towards greater specificity. Additionally, some altcoins can offer functions beyond mere P2P transaction media.

What altcoin investors need to be cautious of is the abundance of scams and the sudden emergence of "dead coins." LUNA serves as a tangible testament that not all altcoins are perfect. The freedom offered by the crypto community is exploited by scammers to infiltrate the crypto world with false agendas. Personally, I allocate only a small portion of my funds to altcoins because I'm not inclined to embrace high volatility.

redsun114

hero member

Activity: 2772

Merit: 588

Leading Crypto Sports Betting & Casino Platform

Quote from: shadidalam0912zx on October 16, 2023, 05:06:18 AM

Altcoin investing carries risks and opportunities. Diversify, research, and manage risk. Avoid scams. Decide on a long-term or short-term strategy, and control emotions. Consult financial experts and stay informed.

A person who does everything that you've mentioned at first wouldn't need to consult with financial experts, all they need is to stay informed about everything happening around the industry, get every news revolving around cryptocurrencies and their developments, keep doing research about coins and tokens they find appealing, and obviously, as you said, take decisions with a clear mind without getting emotionally influenced for any given reason.

Risks will always exist in a financial market that is volatile and unpredictable, but risks can be managed and reduced by constant work and dedication. A trader or an investor who is patient and dedicated to their craft will achieve success eventually despite all the failures and hurdles they might have to face along the way.

Cryptoababe

member

Activity: 922

Merit: 19

Do it For Better Humanity (Bitget trader)

Altcoins are important. But I don't really have any skill to take profit when they pump. But these days, I use Bitget smart portfolio bot to automatically take profit from some altcoin and buy Bitcoin. That's because I Pair most of them with Bitcoin.

CoinFoxs

copper member

Activity: 1825

Merit: 1004

Campaign Management & Translation Services

Altcoins provide investors with opportunities. Investing solely in Bitcoin can be risky, as the market is volatile and prone to unexpected fluctuations. Altcoins allow investors to spread their investments across multiple cryptocurrencies, reducing the overall risk and potentially increasing returns. It will hep investors to make portion of their capital to invest in coins, in this way they will have lesser chancee of loss.

fmz89

legendary

Activity: 1762

Merit: 1002

dont you know to maximize people interest come to crypto and fueling the pump, an orchestra need some flavour of choice, not everyone like original taste
like companies need makes lot of variant product to gain traction lot of people. same as alternative coin. are we clear Wink

Traderbtcc

full member

Activity: 1190

Merit: 123

★Bitvest.io★ Play Plinko or Invest!

Altcoins offer investors the chance to diversify their portfolio and potentially achieve higher returns compared to Bitcoin. Some altcoins are inexpensive, allowing investors with limited capital to acquire more and potentially earn greater profits. Unlike Bitcoin, where a 100% return requires the price to double, altcoins can easily increase in value by five times or more, multiplying an investor's portfolio. When investing in altcoins, consider seeking out low-cap gems for potential opportunities. Happy investing!

_Hiloveua_

full member

Activity: 236

Merit: 106

Quote from: Bitcoinpoly on October 19, 2023, 10:06:02 AM

Quote from: jrrsparkles on July 04, 2023, 09:10:06 AM

Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

Altcoin is not a single coin, its a term used for every cryptocurrencies apart from bitcoin so even if 50% of market dominance under bitcoin still there is room for another 50% that is the factor drives the investors to make money apart from bitcoin. Investing on cheap coin can go as complete loss or can give 100x returns in very short term.

You’re right actually, I could remember how cheap coin made some people rich while it also make some people go into loss. Cheap coins doesn’t have any utility, you can be lucky and make money through it though.
Investing in Altcoins are actually cool because most altcoins have utility. Just DYOR and make a good decision.

Why people don't choose altcoin is that apart from bitcoin you can earn good money after investing in different coins. Although many coins can be bought very cheaply, there are many good coins that are worth buying and holding at cheap or fairly good prices. Altcoins are short-term which means they need to be sold very quickly due to volatility. There are many coins that can be invested for long term but there is always risk of loss. That's why I want to say that if you want to invest in altcoin, you must gain knowledge and experience.

Bitcoinpoly

newbie

Activity: 238

Merit: 0

Quote from: jrrsparkles on July 04, 2023, 09:10:06 AM

Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

Altcoin is not a single coin, its a term used for every cryptocurrencies apart from bitcoin so even if 50% of market dominance under bitcoin still there is room for another 50% that is the factor drives the investors to make money apart from bitcoin. Investing on cheap coin can go as complete loss or can give 100x returns in very short term.

You’re right actually, I could remember how cheap coin made some people rich while it also make some people go into loss. Cheap coins doesn’t have any utility, you can be lucky and make money through it though.
Investing in Altcoins are actually cool because most altcoins have utility. Just DYOR and make a good decision.

AakZaki

legendary

Activity: 2366

Merit: 1084

zknodes.org

Quote from: shadidalam0912zx on October 16, 2023, 05:06:18 AM

Altcoin investing carries risks and opportunities. Diversify, research, and manage risk. Avoid scams. Decide on a long-term or short-term strategy, and control emotions. Consult financial experts and stay informed.

Not just altcoins, all investments will also have risks and opportunities. The only difference is how high the risks and opportunities are.
It's not easy to do as you say, maybe it's just a theory or suggestion, but when you do it directly there will be some mistakes that might occur. Being careful and always alert will be the main warning. Controlling emotions will not be easy, it requires some experience and awareness that what is invested has really been thought about.

Blitzboy

hero member

Activity: 1344

Merit: 565

Leading Crypto Sports Betting & Casino Platform

Quote from: Xampeuu on October 15, 2023, 11:11:27 PM

Quote from: Mehedi72 on October 15, 2023, 05:58:37 PM

Quote from: lixer

the best way is to simply choose altcoins that are trusted and have been around for quite some time just like Ethereum, Litecoin, Monero, and many others that we know have got the potential to perform well when we enter the bull run and we can get good profits if not huge from these investments.

this is what i shared in my previous comment, you quoted. Not each and every altcoins are going to be scam or dead as op thought. Altcoin also can be hold for long but selecting altcoins with no potentiality, could be the reason of big loss. Some people like task risk but for that, analysis is always mportant, bad hyped altcoins may okey for short term buy dip and sold out but this mehod isn’t for all Altcoin, take a decision to holding potential altcoins for long term would be profitable

Indeed, there are several altcoins that have potential and make it possible to increase their prices again and provide profits to investors. This is different with new altcoins where there is a high possibility of being a scam, making this altcoin risky to invest in. although not all, it is difficult to find potential new altcoins, so it requires in-depth analysis. Big profits are the main attraction for investors to choose altcoins as an investment, as is the case for meme coins, of course there are still many fans too

Hear me out: you are entirely correct. As the quantity of altcoins has increased, investing has become a complete maze. earnings? Indeed, they are seductive. And the dangers? They're high and genuine, particularly with the new altcoins. Frauds? Anywhere. To be clear, not every new currency is a fraud, but what are the risks? Yes, they are indisputable. Although some established and dependable altcoins offer benefits, exploring the realm of cryptocurrency necessitates a thorough investigation that surpasses the comprehension of most individuals. As you correctly noted, meme coins continue to have popularity. But why? earnings. Always makes money. But let me emphasize this: you're sailing on rocky waters if you dont do your homework and do a thorough investigation. high yields? Perhaps. high dangers? Absolutely. Make prudent investments, as in this crypto world, information is not only power, but also survival.

shadidalam0912zx

newbie

Activity: 67

Merit: 0

Altcoin investing carries risks and opportunities. Diversify, research, and manage risk. Avoid scams. Decide on a long-term or short-term strategy, and control emotions. Consult financial experts and stay informed.

Best-mary

jr. member

Activity: 280

Merit: 8

BTC Lover|Crypto Educator| We Grow by Learning!

Quote from: Jocuserious on July 04, 2023, 04:08:03 AM

Scam, death both have in altcoins market so why you want investing altcoins?
My opinion buy dip and sold faster on some profits like to be best revenge for all altcoins investors!
What's your skills and opinion?

As much as we don't like altcoins, we can't dispute the fact that some altcoins have given people a lot of money. Now Sol as of before it crashed was below $100 those who bought earlier made a whole lot before the incident that led to Solana's crash. What about those coins below $1? They seem to give good out of profit too like BGB.

The only issue is that we don't do proper research on coins to buy. We rather go for hyped coins than do the in-depth research ourselves that's why most people get rekt

cuongtruna81

newbie

Activity: 4

Merit: 0

Because of greed, the desire to become wealthy, and the hope that the coin I invest in can increase my investment account by x100.

vanturhan82

newbie

Activity: 12

Merit: 1

Because without it, the cryptocurrency market cannot exist, and we are here to discuss them together. It seems like you've incurred too many losses and consistently harbor a vengeful attitude towards the market. There is no single investment method that is good for everyone; it's simply about not putting all your money into one project. You're successful when you diversify your investments, just like investment funds don't invest in just one project; in fact, they invest in many projects like DeFi, GameFi, and more.

Topic: Why are altcoins important? - page 12. (Read 3733 times)