Topic: Why only a Bitcoin trading pair is the best thing? - page 4. (Read 509 times)

Aside from Bitcoin, there are some alternate cryptocurrencies that has been proven good for long-term planning.  Although they are not as popular as Bitcoin, they had been around the market for many years and still actively developing and growing.  Aside from cryptocurrency, there are other investments that also give a good amount of profit in the long run such as real estate, stocks, bonds and more.  Let us not limit ourselves to one option.  Remember diversification is one of the best strategies for risk management.


DCA is a better approach than active trading (buy and sell for profit and accumulation) if a person isn't that good at trading if the person's purpose is to accumulate Bitcoin.

If your goal is to increase bitcoins in your wallet, then it is really the right decision to trade in a pair to BTC. And you will get a wonderful result of your bull market trading. But you can also allocate part of the deposit for altcoin trading in order to subsequently convert the profit into BTC.

They are just a group of people who just want big profits instantly.
While Bitcoin is better than anything in the long run, shitcoins are just short-term coins.
Hype at the beginning and then abandoned. If you try to hold long-term, many shitcoins are already worthless.

If your main goal is to hold for the long term and pass it on to your daughter.
You need good storage and early education about bitcoin for your daughter.
Bitcoin will be a very valuable digital asset legacy in the future.

Greed will lead to losses, those who choose new altcoins without doing research are facing real risks.
Even though some of the top altcoins are still worth buying and investing in.
The mindset of wanting to get rich instantly will continue to grow in some people who are too greedy.

I agree with you, and I recommend that everyone should consider trading with Bitcoin rather than focusing on those cryptocurrencies which are affected by pump and dump traps. Sometimes these traps are set up by exchanges to liquidate the money of the greedy fellows. Bitcoin will keep you safe from those traps.

Trading in Bitcoin is very safe, and you will surely not lose your capital if you invest it in Bitcoin, but instead you will earn profits in long term. The profit ratio of Bitcoin is lower than that of those pumping altcoins, but after the pump they will be dumped badly. There is even potential of high profit in Bitcoin, but that is for only those who can Hodl it for long term.

They do know Bitcoin is profitable but it is not profitable enough and can not satisfy their need and greddiness. They see potential higher profits from altcoins and they choose altcoins. They can choose old altcoins that give them more safe investments than with new altcoins which are created recently with new trends.

Again their greediness is harmful for their capital safety. They ignore old verified altcoins and choose new altcoins.

Unhappy endings are what most of them get but they must have the experience to feel what advice given by senior cryptocurrency enthusiasts.

Yea, I agree with you but I am talking about people who think Bitcoin is not profitable even though it is a major coin. They consider some shitcoins to be profitable and I have seen many people lose all their money.

I want to know the experience of people who have worked only with Bitcoin for a long time.

NB: Mainly my purpose is I have a daughter, and I want to save some bitcoins for her in the future.

In my opinion, Bitcoin is a way to make various payments online, which can also be a source of income for every individual if anyone really understands it.

This is also one of the main good things when it comes to long-term investment and if you also want to have a daily income, you can also use day trading, but it depends on the knowledge that you have a trading pair called.

Bitcoin is the best coin for long-term trades, but you can trade any altcoin that you follow and that you are confident in. Many working projects have updates and releases, that are very price responsive, if you learn how to use it, you can also profit from such transactions. You need to be able to use different tools to achieve benefits.

I think you're mostly referring to investing though, not necessarily trading. With trading, it will be totally subjective which trading pairs is "better" to trade as it will totally depend on your trading style/strategy.

But with investing — yea, probably one of the best for most people long-term.

Bitcoin trading is much more good, but if you trade good altcoins, it can be good too, but just that bitcoin is more reliable than altcoins, this is the reason I can say that bitcoin trading is also more reliable and can be the best that you can go for.

There are different types of trading.
Scalping, day trading and swing trading are the types. If you trade frequently, opening and closing positios many times in a day, you may not like bitcoin because of the less volatility, you will pay more on fee on each trading. If you do not want to pay more on fee in trading, you may want to increase the leverage, which is also already making the trading more volatile and riskier.

But for day trade with just one or two positions opened, I think trading with bitcoin is better.

If you are the type that have enough money to use just 1x leverage for bitcoin trading, I think only bitcoin trading is better too.

But if you want to use leverage more than 1x or 2x for bitcoin, some traders may just still use 1x for for some very good altcoins, but just with good altcoins and still less volatile altcoins.

In trading, it is said that traders should use not more than what they can afford to lose to trade. I do not see anything bad to use some good altcoins that you have been studying for a very long time to trade. But what is most important is that you have to be using a leverage that can make liquidation to almost be impossible.

I prefer bitcoin trading, but I also trade with some altcoins and make profit but I will reduce the leverage or not using leverage at all.

No need of confusing, you mean ether has more volatility, altcoins are most of the time more volatile. Trading is very risky, some people even still see bitcoin to be volatile as they are using high amount of money to trade without using leverage.

These days I actually swing trade ETH more than BTC. And many days ETH has more volume than BTC even if the market cap for BTC is higher.

I think the reason why is because there seems to be more trades for ETH and it’s more volatile. You can scalp 25 ETH all day and for every $10 move you catch that’s over $250 profit and a $10 move on ETH is not uncommon.

You've got a point right that the return on investment in Bitcoin is relatively low. But the risk is much less compared to other coins if the profit is relatively low. It is better to aim to earn a low profit with a relatively low risk of your financial assets than to think of making a high profit by putting your financial assets at high risk. Because if your financial resources are safe then those financial resources will be useful at any time. But if I lose all my wealth in order to gain more profit, I will have nothing to support me in times of danger.

But through Bitcoin, it is possible to earn profit by investing in a short period of time without investing much time. If you are trading with a large amount of capital and fixed a certain target, then there is no need to invest more time. Because buying coins with more capital when the market goes down relatively little and selling when the market goes up a little will show you a good amount of profit.
Bitcoin is the first and best choice if you are planning a long-term investment considering security. Since you are investing your money for a long time, if you do not invest in a trusted platform, there is a risk of losing your money. As Bitcoin is always best for long term investment I will definitely choose Bitcoin for long term investment.

You can start with its blockchain algorithm, Proof of Work. It is safer than Proof of Stake, smart contracts which can be exploited and new tokens can be minted by an exploited smart contract.

With Proof of Work, you can not do that. With Bitcoin network that is a biggest one with highest total hash rate, risk to see 51% attack is low and nearly zero. It is why people have biggest belief in Bitcoin but not in other coins or tokens. With Bitcoin, investors will not have fear of sudden inflation in circulating supply like with smart contract.

Bitcoin is not a product. It is a mean for payment, transactions peer-to-peer. Other businesses or people can use bitcoin for their service payments or for individual trade deal.

To manage your bitcoins good in long term, you must know about self custody wallet and only store your bitcoins in such wallets.

Must backup your wallets for recovery when your initial wallet or device is broken technically.

If you make your long term plan by storing your bitcoins on exchanges, you might have nightmare anytime.
Reminder: do not keep your money in online accounts

I think one of the reasons why Bitcoin trading is the best and the best is that when one trades only Bitcoin, his profit will be less than other coins or tokens and vice versa the chances of losing from other coins or tokens will be much less. I personally think that Bitcoin can be the only product for long-term trade management or long-term planning.

Do you think there could be anything other than Bitcoin in terms of long-term planning?