Topic: Why you should only hold Bitcoin - page 10. (Read 2462 times)

Knowledge and experience are the top essentials when investing, knowledge is the key factor that determines our success or failure, not the type of asset. Many stock, gold or real estate investors are still becoming the most successful and wealthy people in the world without needing bitcoin. So let's not exaggerate too much about bitcoin and disparage other assets when our knowledge is not equal to anyone else's. 

I believe that a person with complete knowledge and they invest in altcoins will even earn many times better profits than investing in bitcoin. And the final result is what's important, so investing in bitcoin or altcoin will depend on each person's knowledge and preferences. No asset is worth investing in and is not worth investing in when our knowledge is zero.

If we invest then it is more important for us to have investment related knowledge and experience. If we are not experienced about investments, we cannot start our investment journey properly, as a result of which we may stumble in the beginning of investment. There are a variety of coins to invest in the cryptocurrency market, with Bitcoin at the center of investor choice. People invest not only in Bitcoin but also in various altcoins, they even invest in Memcoin. People who have a sound understanding of investing and who have the ability to analyze the market invest in altcoins but they invest in potential altcoins instead of all altcoins. And those who do not have a proper understanding of investment are unable to choose the right currency for investment without understanding which makes them more likely to lose.

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

Irrespective of the points stated/given, I find this topic rather limited  (I mean no offence)

It's like telling people to buy into and hold one type of asset class simply because a greater percentage of people believe in that asset class more than the others and prefer to hold. Even though Bitcoin is considered as a store of value, it still doesn't make an investor limit his investments. There are other solutions that does issue value proposition such as Bitcoin also, why narrow down your option to Bitcoin alone.

Of all the coins in crypto-currencies, no matter how deep the pits they fall, Bitcoin is always rising from the pits. People put their faith in him who gets up after stumbling again and again. While there is only altcoins and meme buzz around, people are putting Bitcoin ahead of the investment. Bitcoin's value is out of touch with all other coins. People have different plans when it comes to investment but I think those who want to invest in long-term projects for the next few years should definitely invest in Bitcoin. Investments should be made where the risk is least, don't you think Bitcoin is the least risky of all coins.

I think both investments require good knowledge and understanding of these two things and we should not decide to start without understanding and knowledge about these investments, whether investing in Bitcoin or Altcoin both have the risk of losing the money we invest if we don't understand them well. well and investing in Bitcoin requires us to be able to survive for a long period of time so we can get profits on both investments and on Altcoins we can also get profits if we choose the right type of Altcoin that we will invest in, I agree with you that we must be able to be patient with the investments we make so that we don't do it greedily which means we won't be able to get a profit from the investment.

I don't object when people like to play it safe and only invest in bitcoin and I respect their decision. But it's ironic that many people who lack knowledge and don't dare to risk looking for bigger opportunities think that bitcoin is the only investment, and altcoins are useless.

As an investor, we should not be stubborn and too stubborn to ignore bigger opportunities. Many people in the past, because of their stubborn attitude, missed the opportunity to buy bitcoin under 1 USD, 10 USD and 100 USD... and now they regret it. I am not saying that altcoins will be as good as bitcoin but there is no denying that many altcoins are bringing huge profits just like bitcoinn. Look at how early investors in ETH, BNB, SOl...they are reaping huge profits.

Bitcoin is the head of All cryptocurrency and that makes bitcoin more popular in the world, bitcoin also happens to be the most profiting and reliable coin in terms of investment the risk involve in bitcoin investment is very low compared to the risk in altcoins and meme, that is why most investors prefer to hold only bitcoin, regardless to the time it will take them before they can get profit from bitcoin investment, Bitcoin investment is all about been patient to hold it for Long term.

Bitcoin will remain number one, because someone who invests in crypto without holding bitcoin is a big mistake and needs to question their investment objectives because bitcoin is a future asset that we must have in our portfolio.

Many of Atltcoin are scams and failures. However, there are several altcoins that have a future, such as ETH and BNB, which to date have never disappointed their holders. In my opinion, before buying altcoins, try to update reliable news so you can find out the advantages and disadvantages of each coin which continues to increase. Beginners usually buy altcoins that have a very large market capitalization so they can be held for a long period of time and don't have to worry about the ups and downs of an asset's price.

I myself invest in Bitcoin and Altcoins. Of course, I definitely allocate the largest amount of funds to Bitcoin because Bitcoin is like savings for the future.

The altcoins that I currently hold are ETH, BNB and Matic. Hopefully the bitcoins and altcoins that I invest in can produce results in the future so that financial freedom can be created.

Holding does not have any serious work, the work will come when you want to do analysis that is when you need good knowledge to be able to mine out profits so but holding you just buy and hold but even at the expense of holding you still need to have knowledge on what you are holding and what you are buying, so that you don’t even get scammed.


Both holding or trading you still need to have basic knowledge on you assets, that way you don’t need anyone to do anything for you when you need to make withdrawals and you can also hold your assets your self and there is no way anyone can do that without have knowledge because a lot of people have lost their assets just because they entrusted it to someone else, personally I have trust issues, when it comes to my business I need to have the whole knowledge to be able to manage it well. So as holding is easy the same way knowledge is important, do your homework well.

Before investing you must decide where you want to invest whether you want to invest in bitcoin or you want to invest in altcoin. In my opinion bitcoin is safer to invest than altcoin. I won't say that investing in altcoin is not good, of course you can invest in altcoin if you want, but investing in bitcoin is more profitable than altcoin. Bitcoin investment requires you to acquire enough knowledge about the Bitcoin market. You must check the market and then invest. Bitcoin investment always requires you to have a long-term plan. Many times it is seen that we lose patience in Bitcoin investment. Patience is very important. We should not lose patience. If we invest with patience and plan, surely we can get success through Bitcoin investment.

The strategy you use is actually not bad if in the end you convert the profits you get to Bitcoin because on the one hand you still quite like Bitcoin even though you are hindered by the amount of money you have when you want to buy Bitcoin. However, for me this is not an excuse because Bitcoin can also be bought with small amounts of money, but with this kind of strategy it is also quite good as long as you don't keep altcoins for a long time. Or do you just use altcoins as a stepping stone to be able to buy Bitcoin through the profits you get from altcoins.

Bitcoin is the best coin to buy and invest in for the long term that will minimize your risk without losing enough money. Most people like taking risks to get huge profits, which is why you will see many people buying another coin to get big profits if he favors them. It will be very hard to see investors focusing on one aspect and rotating in different coins that they see as profitable, but you can trust the coin more than Bitcoin because anytime the coin decrease, he will be very hard to raise again to get your capital back and profit. but if is Bitcoin he will minimise your risk he won't just drops down too much he will just a few that you won't lose money to much on it.

I used to tell some people who are scared of crypto investment that they should just invest in bitcoin because it is the only coin that doesn't disappoint like other coins. If you can be patient and invest in bitcoin for the long term, even if you lose, you will probably get your capital back if you don't try to sell them as lose because he will raise again no matter what, but some coins if they drop they don't raise again, some lose value, and you can't get your capital back  if you didn't try to sell them as lose because he will raise again no matter what. but some coin if they drop they don't raise again some lose value and you can't get your capital back that is why they like newbies to just invest in bitcoin then taking risk to invest in another coins, if they are interesting in crypto investment.

What do you mean, all of us here who persist in holding bitcoin here have no knowledge? just buy and wait for the price to shoot up?
Bitcoin holders go even further than just analyzing, there is a lot that can be taken into account here. In fact, for bitcoin investors who really analyze in depth, there is no longer any place in their portfolio for altcoins. In fact, the analysis they make is very in-depth beyond the analysis of altcoins.

Yeah Altcoins has huge potentials really I am personally into Altcoins right now because I can buy some of them with my smaller funds but my plan is that all my profits in Altcoins will surely be converted to Bitcoin. I can't buy some Bitcoins with my small fiat money but I can do that on Altcoins I am into quantity right now because I can't do that with Bitcoin.

I agree with your opinion, investment definitely depends on one's personal preferences and skill of that person. If his analysis skills are good then he will never invest only in Bitcoin, he will choose different altcoins for short-term investment. It is not correct that all altcoins are bad or scam. Apart from investment in Bitcoin, a large marketcap in cryptocurrencies is occupied by altcoins. But bitcoin is the best for those who don't have enough knowledge to analysis.

I have not seen anyone say that bitcoin is not the best currency on the market, nor have I seen anyone say that bitcoin is not worth investing in. This is obvious, why do we keep repeating this? Also, bitcoin is the best but that doesn't mean we have to focus only on it. Just like when comparing bitcoin with gold or real estate, bitcoin is not the best but why doesn't anyone encourage investing in gold or real estate?
It all depends on each person's preferences. If you like safety, top assets like bitcoin, gold...are the choice. If you want to take risks for greater rewards, altcoins are the choice. Don't try to impose your thoughts on others and hate them just because they don't think like you.

I absolutely agree that Bitcoin is scam free, Bitcoin is know and has only one logo no matter how people manipulate the logo and whatever it is still Bitcoin we know but in other coins different coin with different logo and speculations of being better than the other, this is where scam come in, yea the major reason people take the decision of investing in Bitcoin after selling their meaningful assets is because of the fact that Bitcoin is inflation free, there are individuals that understand this,  so what they do is to keep investing not minding the price at that time knowing fully well that in time coming they will definitely get their profit in quantum depending on the amount they invested, in nutshell, Bitcoin remains the best coin.

Regardless of all the great reasons why someone should be Bitcoin only, I think it is a bit irresponsible to have all of your eggs in one basket.  Bitcoin isn't bulletproof (it's not a Cybertruck) and someone could figure out an exploit tomorrow that makes Bitcoin worthless overnight.  I actually think it is even a bit irresponsible for someone to have all their savings in a single asset.  That being said, it certainly happens quite frequently.  Real estate investors for example tend to have all their value in real estate and even leverage it with loans.  Many lost everything in 2008.  If something like that happens in crypto, don't be the guy who went from being a millionaire to eating at a soup kitchen.  Diversify.  It is important for more reasons than just the best possible return.

Yes, Bitcoin is a coin with a lot of trust and if you invest here, there is a possibility of loss, but there is no fear of being scammed, and there is also the possibility of getting huge profits, so these can be strong enough reasons to want to invest in Bitcoin. In the crypto era only Bitcoin can be fully trusted and invested in with confidence. Because of this, many are not hesitating to invest in Bitcoin even after selling their other valuable assets