Topic: Why buy bitcoins and not altcoins？ - page 2. (Read 534 times)

One of the important features of any investment instrument is diversification. For the long term investor, it is not advisable to hold only one asset. The reason is simple. If you have too much money invested in a single investment, if that asset loses value, the entire investment will go down.

Because Bitcoin is the king, if there is no Bitcoin, there would be no such altcoins. Of course, I would also buy altcoins.
It's just that Bitcoin is more valuable compared to altcoins, and altcoins need to be short-term, which is not suitable for novices. Novices cannot distinguish between value coins and meme coins in altcoins, and they are easy to lose money in altcoins.
So for novices, it is recommended to buy Bitcoin rather than altcoins.

No they don't.
You can use a bag of dog poo as a medium of exchange but that doesn't mean the bag of dog poo is offering the same use case as a currency.

There are lots of reasons. For starters two important requirement of a (crypto)currency is security and immutability. A lot of altcoins specially the top 20 don't have these two and a lot of them are too centralized to be used as a viable currency.
That only leaves bitcoin and possibly coins such as Monero but due to other issues (eg. scaling or full anonymity) these altcoins remain unused.

There is nothing wrong with using all assets to invest in Bitcoin, and there is nothing wrong with not participating in altcoins, depending on personal investment strategies.

In terms of market value, the top ten currencies are all available. Bitcoin's current appreciation space or range is not very large, but the risk is very small, and altcoins are divided into mainstream currencies (such as ETH, EOS, etc.), and I also hold There are some altcoins. Generally speaking, there is no mistake in choosing altcoins.

When choosing altcoins, my principle is to choose the founding team. There are many rubbish coins and scams. I will stay far away.

Altcoin also have the same uses as bitcoin, but they are much less common than using bitcoin as a means of payment. I agree that most people buy altcoin just to profit through their price volatility so their usefulness as a currency is much lower. Also there are very few real world business or service willing to accept altcoin as a mean of payment, but it is possible that some of the best altcoin are also used more frequently. Actually I feel confused to find the reason why altcoin are much less used as a mean of payment than bitcoin. Is there a specific reason why this is happening? Is it true that only bitcoin is really good to use as a currency?

Bitcoin will continue to be used as a means of payment as well as a traded asset. Therefore bitcoin will continue to have value and will only become stronger as adoption also grows.

Something I didn't see anyone point out is that you have to ask yourself what the utility of the altcoin you want to buy is. In almost all cases the answer is nothing except being pumped and dumped. This means when you buy altcoins you are buying something useless that has a value only because of speculation.

When it comes to bitcoin, it actually has utility in real world. It is the only decentralized currency in existence. So at the end of the day bitcoin is still useful which gives it a lot of value.

Firstly you should note that all we say here aren't financial advise and you're responsible for all the financial decisions you make. The thing about altcoins is that, we'll always have more coming into the market and the previous becomes inferior. There was a time privacy coins were the talk of the community. Many invested in this trend and today aren't making as much profit they would have been making if they have just bought bitcoin.

Same thing can be said about others previous trends in the past that newbie rush into investing in hoping to make profits but majority are in loss. Same thing is also happening with meme coins investment now and soon Defi will become something of the past in regards to trend of the market.

Why buy Bitcoin instead of altcoins is because history has proven it's the better investment. Last year Bitcoin fall to around $3k and later rose to $60k+ that's an unrecoverable price action comparing to most altcoins in the market you'll understand why the forum preaches investing in bitcoin instead of altcoins. There's no certainty about altcoins recovering but there's with bitcoin because it's one of a kind. There's no two Bitcoin but we have numerous altcoins and will always have more to choose from. Lastly altcoins are a distraction.

There are lot's of coins currently apart from bitcoin but most people really prefer to invest in bitcoin than any other altcoins because they just believe in bitcoin and they believe bitcoin will never fail them even if it dumps it will definitely rise again not like other altcoins which anything can happen at anytime so Most people really believe in bitcoin than altcoins because altcoins can dump and will never pump again.

There is data that supports it below you, OP. Adding it up, many of the altcoins are just gonna end up a shitcoin that is why many just prefer you buying Bitcoin over alts.
Most of the solution are already provided by Bitcoin so why bother buying other coins? Other still buy Ethereum for Smart Contracts which somehow differentiates it to Bitcoin.

For starters i think buying Bitcoin is a no brainer. BTC has the largest market share of all the cryptocurrencies on the coinmarketcap and has top secured blockchain. Also Bitcoin value keeps increasing and while it may not see huge amounts in ROI as compared to other altcoins, Bitcoin represents a much safer investment than a lot of altcoins

Look at the charts that Bitcoin and altcoins have and plot it from today on how much you would have earned if you invested 6 months ago $100.  Bitcoin will be the most profitable when compared to any altcoin and by some margin I would say you could combine most of the popular altcoins and Bitcoin would still win. There is data on it and its indisputable that Bitcoin is the better investment if you are holding.

it all depends on your choice because it is your money...

my portfolio is 50% bitcoin and the rest is matic, bnb, ethereum and some altcoins. you don't have to burden yourself with having to hold 100% bitcoin because it's possible that you can make more profit on other crypto coins.

In cryptocurrencies investment, i think a beginner should think to Start an investment with bitcoin instead of altcoins, because bitcoin is well known and well pronounced than some of the alternative coins, BTC can only depreciates in value if invest on it and later it will rise, so it's obvious that bitcoin doesn't die off like some altcoins, their is some altcoins you will purchase today and interval of two years it will never comeup, but ethereum is in some extent having a significant value or similar values to bitcoin movement.

Altcoins are copies of Bitcoin created by way smaller teams of developers and with people with less experience. They usually try to put some sort of twist in their coin to make it stand out, which often compromises the security of the network. These coins also can only get a tiny fraction of Bitcoin's security, and there are many documented successful 51% attacks against altcoins. And most importantly, many-many altcoins are created with the sole goal of dumping the premined coins and abandoning the projects sooner or later.

Indeed  , holding BTC is just way better and that's what many altcoins depends on, if bTC revaluate other coins will be happy too and BTC is the most popular coin of all, though it's advisable to buy few altcoins too because altcoins ROI can be massive compare to BTC

Go for any coin you like but bitcoin has the highest security and also the most decentralized, all other cryptocurrencies are not decentralized like bitcoin. You can invest on any coin but I prefer bitcoin, my 70% portfolio is bitcoin while 30% on altcoins. It is working good for me and I like it like that, it will be good to do what work best for you.

Bitcoin is the safer path if you want to earn money because it has a good developer team and was created for a purpose. Altcoins you can never be sure if they are a scam or not and if their developers will not just run away once they have earned their money. Bitcoin was created out of passion altcoins are made to profit off Bitcoin. There are only a couple of altcoins which have contributed to the progression of cryptocurrencies and these are Ethereum, Ripple and Monero all other coins are not worth it and are only popular because they are good at generating hype but after that hype falls they dump their coins. Bitcoin has a proven record of 10+ years of being developed and supported by many companies and people it is the birth of cryptocurrencies that we know today and will remain for as long as its the best project which it is by a long shot. Most altcoins are copying the code from Bitcoin and are just changing parameteres around and claiming to be a whole new altcoin.

You are always free to choose between the two actually and it is for you to decide also if you are going to believe on that data you may saw in the future. For me, investment both in altcoin and bitcoin can both be deemed profitable. It is by your choice of altcoin and your timing in bitcoin that would define the income you get from it. Buy low on bitcoin and sell high, likewise with altcoins. It may even be considered a smart move to diversify your investment as long as you are able to choose a good coin aside from bitcoin. Just be smart and wise upon picking which altcoin you are going to invest in.

Those who have more experience can recommend altcoins depending on the market cycle but I don't expect newbies to understand that immediately so "buying bitcoin" is the most responsible thing to say.

It's all in the mind. Do you really have to hold 1 BTC? Why not think of it in satoshis? Do you believe holding 1 ADA will be the same as holding 1 BTC in the future? Having 1000 ADA today may just be the equivalent of 10K satoshis a few years from now for all we know.

Whatever you hear isn't a financial advise. Crypto market is well known for it's volatility. Imo Bitcoin is more stable than alts this is this why Bitcoin remains the favorite asset for holders. Alts are good for short term gains for traders. When there is a Bear market, bitcoin may fall 20% and alts would do x50% or more.
Btw I think this topic is more suitable for altcoins discussions