What's your reason for buying altcoins?

[eaLiTy]

Currently I work in an office with a monthly salary of around $450, I come in from Monday to Saturday so I spend a lot of time in the office, when I have free time I always follow the development of cryptocurrencies so I will invest, every month I invest around $75 to buy coins like BNB, Cardano, MATIC and new listed coins and the main goal is for me to make big profits.

Anyone investing in the altcoin market is expecting a huge return in a short period of time and you need to be careful when you are investing in alts as you cannot expect them to move up all the time and most of the times some of the alt rallies does not make any sense either, so luck is a major factor and who knows someone like Elon Musk would shill Doge and that take them to new valuations that no one expected.

[Kelvinid]

The main reason behind buying altcoins for me is that I missed out the Bitcoin train when it was in its baby steps and now I can't make enough returns by investing in Bitcoins. So if I am a little bit lucky then I can surely bank big by investing in altcoins and then I can become financially stable and maybe never have to do a 9 to 5 job in the future ever. But sadly it isn't any close to becoming true till now.

never just rely on LUCKY but have to trust the coins of your choice. It probably you have chosen the best and most promising one so, you'll be expecting a profit. And besides, some altcoins are more profitable than Bitcoin, and if time gives you the chance, you'll probably make more than just investing in Bitcoin.

As I bought some altcoins, I'm also buying Bitcoin. Well, I'd look for long-term and short-term investment so I consider buying Bitcoin even the price is not cheap while taking these altcoins ideal for a short-term deals.

[Oilacris]

The main reason behind buying altcoins for me is that I missed out the Bitcoin train when it was in its baby steps and now I can't make enough returns by investing in Bitcoins. So if I am a little bit lucky then I can surely bank big by investing in altcoins and then I can become financially stable and maybe never have to do a 9 to 5 job in the future ever. But sadly it isn't any close to becoming true till now.

You must know how to trade well once you have save to start for your trading and have enough savings . I have friendswho already quit job and just focus on trading may it be in forex and crypto. Do not quit unless you already secure some for your funds and for trading to avoid regretting or going back again in 9-5 job since the market is too volatile. Soon you might reach your goal when youre focus in it.

You would really make yourself sustainable and able to have that financial freedom plus you would really get free on that 8-5 job on everyday basis which is really a sure thing or an advantage.

If you do know on how to deal off with this market and able to get used to it or advantage then that would really be a sure thing on having a good life. Each one of us does have that common

goal which is to make profits neither you are aiming for accumulating satoshis or totally with fiat value or whatever kind of reason it would be.

[Ararbermas]

For me i just want to buy altcoins for quick profits or should i say trade because i'm a trader.  and yes i used to jump alts especially those popular and making hypes in the market because there's always a good return afterwards wherein usually 20-30% a day or two it's all good for me, that's why i love altcoins so much, sad to say bearish occurred for me right now it's good to relax..

[Woodie]

Altcoins have a better return on income over coins like bitcoin or ethereum and because they are priced low and i think they can easily convince people to invest in them unlike the 30,000 per bitcoin or 2700 per ethereum.

[StarKay]

New Altcoins is like a second chance to buy bitcoin at the start because I felt that BTC is already at it's peak so if I am going to make my maximum ROI it is better to go for new Altcoins that in my own research offers something that the world will need.
I don't think any of the Altcoins will displace bitcoin at the top of the coin market capitalisation presently because bitcoin is very much decentralised with lots of institutional investors backing it.

[Dr.Osh]

My goal with holding altcoins for a long time is because I believe that the price will go up very high. it's the same as believing that the project will be big, and famous in the future. like a sleeping giant.
however, i'm not sure that as good as i predict the coins i hold will outperform bitcoin and ethereum in the future. however, the number of altcoins I currently have is quite a lot. So, just a few percent increase, the profit I get is quite a lot. that is my goal of holding altcoins that I currently own. to go to the moon.

[bounceback]

Do you genuinely believe any of your altcoins can genuinely surpass Bitcoin or Ethereum's market values in near future?

I have investments in altcoins, not distrust in the altcoins I have but I am sure especially at this time that no one altcoins I own can surpass Bitcoin that's a hard things, while to surpass ETH is possible but it is very unlikely to happen in this year or in short term.

There is no altcoin that can replace Bitcoin because Bitcoin is the only coin that has high trust from investors or from the public to be used as an investment because so far Bitcoin has been proven to be able to provide greater profits for us in the short and long term.

[bakasabo]

I see only one reason where altcoins are better investment than Bitcoin. Altcoins are able to multiply its price in a short period, but Bitcoin is not  able to do it. To have investment in Bitcoin multiplied, years must be passed. Such situation happened only due to Bitcoin high price. The lower is the price, the easier it will be to increase it. But that does not mean that altcoins are better than Bitcoin. Bitcoin has other advantage, it is more stable than altcoins.

[LogitechMouse]

At first, the first thing that comes to my mind is to get fiat/dollar profits but looking more at the choices I picked to get satoshi profits.

I think re-investing your profits is the best way to invest your money. Of course there is a portion of your profits that will be used to buy something that you need or you want or to pay expenses and bills but for me, it is my priority to re-invest most of my profits into crypto or maybe into other assets that can give me profit in the long run.

[sayulita]

I am also one of those who brought bitcoins early but also did sell my coins thinking I have made enough profit off of bitcoin and now I am regretting my decision, so what else to do now?? That's the reason why I keep on investing in altcoins and hoping that one day I would potentially hit a gold mine and would redeem the mistake I did with bitcoin. But till now I am still unlucky and not found that project that would make me a millionaire, so the hustle must go on. Another reason would be that altcoins are now being more innovative than that of bitcoin, bitcoin is still the same as it was from the start but it is not the same with altcoins as they are providing more value to cryptocurrency economy and day to day use.

[sukmo]

For fiat/dollar profits
That's the first reason I'm interested in cryptocurrency investing.
I put some of my earnings into investing with crypto.
I believe crypto investing can get me ahead in the future.
I'm not worried about the price falling right now, because my target is in the future when I already want to use the profits with those cryptocurrency investments.

[Mpamaegbu]

Since May 2021 altcoin's market share has been around 60% of the total crypto market, confirming that the majority of investors are drawn towards altcoins rather than Bitcoin these days.

That's simply because a lot of investors now know that alts give a far better ROI than Bitcoin within a short period of time (sometimes, on long term too). By the way, OP I think your question should've been situated in a way that a particular alt is used as a case study. If not, your question is an open one and I think all answers that will be aggregated here, in whatever guise, will point to one thing and that's "Profit Making". But of course, it's common knowledge that everyone goes into business to make profit, isn't it? Anyone who wants to pretend and be hypocritical about it can go on deceiving themselves.  For me, the sole aim of investing in any project is profit making.

[milewilda]

I bought altcoins because I saw the potential it has, there are many options for me to invest where we like. And that became one of the reasons for me, why I bought altcoins. When the price of bitcoin is like now, yes, altcoins are an option for us, so we can still take advantage in situations like this.

The steps you have taken are indeed right and it is not wrong to take advantage of the current situation to buy some Altcoins, but you also have to look at coins that have the potential to recover faster at the time of purchase, don't buy immediately without considering this because there are many people who regretted in the past for choosing the wrong Altcoin at the time of buying it.

Criterias?

1. Potential
2. Liquidity or volume
3. Real use case
4. Recognition or popularity

Primary factors which you do need to consider before jumping into investing but choosing one wont really be simple as it sounds.
There are still coins/projects which are still undervalued and most people is trying to find it.

[Alanaz]

The drop in the market like now makes me prefer to wait, I'm happy because since last December I parked about 80% of assets into stable coins so I can avoid big losses, if I buy any coin right now I can get up to 200% but I'd rather wait because of the news that bitcoin will drop under $30k.

I do the same as you do.
although I'm a bit late because I did this in mid-December but it doesn't really matter because it's better than being in bitcoin right now

I think they will touch the price again because their trendline is still not showing signs of going up and still below.
I feel this decline is still going to continue and this is not their low point I think.

[justdimin]

what is your reason for buying and holding these coins? What type of profits (fiat/btc/eth/other) are you hoping to achieve and have you already taken profits?

Do you genuinely believe any of your altcoins can genuinely surpass Bitcoin or Ethereum's market values in near future?

I wouldn't want to pick "for dollar profits" because I am not that kind of person, but the investments I want to make are all in fiat after I reach a certain level. I could have clicked "other" as well if I had the chance but I didn't want to make it look like results showed other heavily. It's mainly like I want to have passive income, and I do that in crypto, and I am fine with that, there is nothing I want to change right now.

However, if I end up getting super rich one day, like have 200k dollars or something then I would buy a bunch of houses and then use that money to live instead of passive income from crypto. I would still go back and buy some crypto from the rents I am making from those houses, but buying houses makes sense. If you consider buying a house is fiat, then my answer is fiat, if you consider it other then my answer is other.

[Oasisman]

I bought altcoins because I saw the potential it has, there are many options for me to invest where we like. And that became one of the reasons for me, why I bought altcoins. When the price of bitcoin is like now, yes, altcoins are an option for us, so we can still take advantage in situations like this.

The steps you have taken are indeed right and it is not wrong to take advantage of the current situation to buy some Altcoins, but you also have to look at coins that have the potential to recover faster at the time of purchase, don't buy immediately without considering this because there are many people who regretted in the past for choosing the wrong Altcoin at the time of buying it.

Criterias?

1. Potential
2. Liquidity or volume
3. Real use case
4. Recognition or popularity

Primary factors which you do need to consider before jumping into investing but choosing one wont really be simple as it sounds.
There are still coins/projects which are still undervalued and most people
 is trying to find it.

I think popularity and public recognition plays a huge role in altcoin adoption nowadays.
The meme coins with no real use case is the perfect example for this.
When an alt have enough publicity and became really popular, potential and volume will always follow suit. Because people are actually buying what has been pumped so hard by the influencers, celebrities, and other known business man with big names in the industry.

[yazher]

I decided to hodl some altcoins because I know they spike their price in the next years to come but it's all depends on their developers and what kind of project they have. Most of the time projects are the same and have the same agenda but you need to look at the team because that's all that matters. Whatever they promise to do in the future with their project, if they don't have the necessary resources, it won't really happen, I've seen lots of those broken promises in the past. only those projects that have legit teams and enough funds are able to update and promote their project well.

[pushups44]

Altcoins are great both to convert to satoshis as well as to convert to fiat dollars. After all, we all have living and other expenses to take care of. Also, using altcoin profits for these expenses allows you to keep all of your bitcoin.

However, not all altcoins are equal. I tend to stick to those in the top 50.

[Oneandpure]

I decided to hodl some altcoins because I know they spike their price in the next years to come but it's all depends on their developers and what kind of project they have. Most of the time projects are the same and have the same agenda but you need to look at the team because that's all that matters. Whatever they promise to do in the future with their project, if they don't have the necessary resources, it won't really happen, I've seen lots of those broken promises in the past. only those projects that have legit teams and enough funds are able to update and promote their project well.

Usually always with wrong decision with mine because when holding several altcoin more than one or two years later price dump and almost my coin assets delist from exchange, but I don't know why when early for selling coin price pump without two or three months later. I still remember with HEX coin buy on pre sale and got cheapest price, not any ideas for holding because when listing get good price and profit than 10% but now most angry why not holding because price pump almost $0.3 and I sold my HEX coin under $0.05.