Why buy bitcoins and not altcoins？

[adekogbe]

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

[isaac_clarke22]

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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.

[Issa56]

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.

[CryptopreneurBrainboss]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.

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.

[pooya87]

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.

[BITCOIN4X]

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.

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?

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.

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.

[Poker A-k]

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.

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.

[pooya87]

Altcoin also have the same uses as bitcoin,

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.

Is there a specific reason why this is happening? Is it true that only bitcoin is really good to use 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.

[Kiley33]

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.

[decodx]

So for novices, it is recommended to buy Bitcoin rather than altcoins.

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.

[passwordnow]

It is a personal preference when you see someone says to buy bitcoin only, it's his/her choice. Don't need to argue with that as it's really a good option and the best choice that you'll ever follow if you're just new to the crypto space. But as you go on, you will really have to find something else to invest with if you're already contented holding bitcoin. There are a bunch of altcoins and there's already the thought that most of it will fall down a pit and that's why it's safe to invest only in bitcoin. But there are a handful of good alts in my opinion that I'll be holding and based on my experience, I've got profits with those. As a newbie, you'll never go wrong with choosing bitcoin as your only preference but the space is huge and wide but there are a lot of alts that are totally nothing and useless altcoins, count that majority of them are.

[BITCOIN4X]

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.

That's a pretty reasonable parable to hear. Hopefully people who really like altcoin aren't offended to hear that. LOL
I have to admit that the use case of bitcoin and altcoin as currencies are very different. Maybe I'm wrong to say some altcoin also have good uses as currencies like Ethereum, BNB and some others. But if decentralization and security are the reason, bitcoin should be the most viable major (crypto) currency to adopt.

[Hispo]

It is to the date the most representative cryptocurrency with the biggest market capitalization, it is also the crypto-currency with the most mediatic expositure and a serious project with serious people behind.

Of course, this does not mean there are not good alts that can overcome BTC on gains. However, Bitcoin is still a relatively "safe" choice within the market specially whether you are new at this and you are not still good at spotting gem altcoins in a sea of scams and bad projects.

[zasad@]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

https://stats.buybitcoinworldwide.com/realized-price/
Look at this chart, other sources have a fee for this information.
Bitcoin needs to be bought when its current price is lower than the realized price


"Bitcoin Realized Price (or Realised Price) is the value of all the coins at the price that were bought divided by the amount of BTC that is in circulation, The Market Capitalization is the result of multiplying all the coins that there are by the value of the BTC today ."
https://bgeometrics.com/bitcoin-realized-price/

[qwertyup23]

I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.

But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.

There are lots of altcoins present in the market. The reason on why they are called 'altcoins' is because they are alternative coins other than Bitcoin! The problem with most altcoins is that their market value and market cap are larger compared to bitcoin's cap (21 million). In addition, the price of BTC is significantly high that most people prefer to invest on the latter either for short/long-term.

It's like, why invest in silver if there is gold? Though there are cases that investing in silver is better, the general rule is that investing into BTC can either make or break your investment.

[Jawadu]

There's more than 10 thousand alts and tokens in the market but only one Bitcoin.

Quite a positive argument!

Personally, I was having a very difficult time coming across a topic like this which asking why should I buy only bitcoins and not altcoins? But now you have opened my mind! Altcoins are plentiful though some of them are profitable, but they still can't achieve the quality of Bitcoin because it really exists on its own and it is the very first!

[Luke Briggs]

Bitcoin is a little safer than altcoins because it is a long-term asset and suitable for beginners.
  If you are a beginner, it is recommended that you buy Bitcoin instead of altcoins.
If you want to make more profits, you can choose altcoins, but you must understand the project before investing.
Many people will also be interested in altcoins, but many of them are memetic coins. Before investing, think about whether you can take risks.

[Peanutswar]

We all know that bitcoin is one of the largest and known coins already also we know that bitcoin is dependent on the other coins or the altcoins. Also today Bitcoin is one of the good running coins it's already building a reputation but again we know the market volatility of this coin.  It depends on you how long you can trust the bitcoin it's all about the mental stability to hold the coins. Some coins become useless coins or shitcoins but the bitcoin is still at the top of all coins.

[Squezzi55]

Your question sounds confused but I'd buy bitcoin over altcoin if I find myself in a position that I must choose only one out of the two, BTC is far more reliable and makes investors worry less even if bad bear market strikes, it's true that altcoins have higher gains but they always have higher losses too

[finaleshot2016]

Of course, bitcoin is the most secure and promising cryptocurrency; you'll suggest the easiest cryptocurrency to analyze because we can use previous charts and there are many experts who can provide signals on when to buy or sell. In comparison to altcoins and bitcoin, there are many investors in bitcoin and likely a lot of TA that can be seen on various platforms. There are some altcoins that have a high risk but high reward, and they are not recommended for newbies because a simple mistake could result in the loss of your investments.

The simplest answer to your question is, bitcoin is unique and safe. It's the original.