Unpopular Opinion: Invest in Alt Coins to Accumulate More Bitcoin

[dansus021]

well this is interesting post. accumulate 1 whole bitcoin is really hard but with DCA(Dollar Cost Averaging) maybe it will achieved at certain at time. and i really like your saying about invest in real-use case coin 100% agree with that since dozen shitcoin will pop-out on BSC or ETH Network. I usually trade coin with BTC pair it can accumulate your coin fast and invest on altcoin that have staking or farming so when the value of coin decrease u can still see your money grow.

[Freezingel]

That's true, i believe that there are so many potential altcoins but unfortunately they do not have the name like bitcoin, so it is harder for them to gain new investors. As you said, sometimes altcoin can earn us higher profit rather than bitcoin, but altcoins are so many, it's hard to the find the right and suitable one, and there are a lot of scams too, so people might be wary and choose a safer option which is bitcoin. But i would like to see more people getting interested in altcoin, so maybe we can make bounty and projects alive again like before in 2017. I gotta say that bounties and projects are kinda dead now, it's hard to find a good one.

[thecodebear]

I'd say don't use altcoins to try to accumulate more bitcoin. That is hard, trying to essentially trade two extremely volatile assets against one another. Even if you're not talking short term trades but longer term bets, since most altcoins long term go toward zero against Bitcoin. Just look at your precious shitcoin xrp (and yes it is an absolute shitcoin, one of the worst out there) - about $3 vs $20k 3.5 years ago, now about $1 vs $40k so it's lost over 80% of it's value against bitcoin since last cycle's peak, and this trend is likely to continue for it....just as an example.

It's better to find a few altcoin projects that you believe in and invest in them long term alongside your bitcoin holdings. Bitcoin + Eth + a few alts you believe in is a good strategy. Don't bother trying to use alts to make more bitcoin, in the end you'll probably just end up with less Bitcoin than if you had just bought Bitcoin in the first place.

[maxreish]

Its always best to diversify investments. As each coins gives different percent of profits and each altcoins also has a level of potentials. Band I kind of agree that besides owning Bitcoin, altcoins also are good to keep for a long term.

It is just all about good management plan, a reliable tools for trackings and a good portfolio. Also, having so much altcoins isnt necessarry, just choose enough but established and potential altcoins.

[OcTradism]

Investing/trading in altcoins has always been one of the ways of accumulating more bitcoin; it's just that delving into altcoins is mostly heavily unrecommended simply because a lot of people ended up being in far worse situations after delving into altcoins. Pretty much the same as trading in general, whereas a huge majority simply aren't built for it.

The inverted results is investing/ trading altcoins always are one of fastest way to lose bitcoin.

If the market turns from bull to bear, or simply has a serious correction, and you are trading altcoins with loses, you lose your bitcoin. 20%, 40% of your bitcoin will be lost within a few hours, or 24 hours. Altcoins always have faster crashes than Bitcoin.

[DooMAD]

This is really works like for example if you bought a lot of doge last December 2020 like worth $1k and you sell it for btc last May this year when ATH reached you can have atleast 2-3 btc in your $1k yeah its a nice return and looks like most people today are doing this kind of strategy invest in alts and buy bitcoin later when they got enough profit.

It can work, but success is highly dependant on external factors that you have no control over.  Before anyone does this, they need to consider carefully how patient they are willing to be, since markets are unpredictable and can move in the opposite direction to the one you want. 

As an example, people often talk abut buying the absolute cheapest coin you can find, because those have the greatest potential to increase your profits.  But that's rarely accompanied with a warning about the dangers of such coins getting delisted from an exchange and the effect that tends to have on the price once it is announced.  That's either a one-way ticket to bagholderville or a substantial realised loss.  If you inadvertently manage to convince someone that doing this is a guaranteed win, you could end up costing them a lot of money.

Always give the pros and cons where you can.

[Yatsan]

Some people are doing this stuff on first investing and trading with some potential Altcoins and when time comes that they have profited from those, they will sell them and transfer funds to acquire parts of Bitcoin for themselves. It turns out that Altcoins are being the primary passage way of other people to get funds to have a single Bitcoin or even just a part of it due to its value and popularity as well. Well, there's nothing wrong on doing such thing of getting into Altcoins to be able to obtain funds for Bitcoin because it is somewhat a strategy but it will be a long take of time and a risk to be taken as well before you can be able to fund yourself buying Bitcoin. A long tiring and hassle process to be exact.