What's your reason for buying altcoins?

[goinmerry]

Of course for the profit isn't it the reason why we are all here in crypto?
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.

Logically speaking, I will agree with you. Crypto is mostly used as an investment and we can't hide that fact. That's the main reason why crypto is being hyped and investors are all coming in, to expect a good profit in the long run.

New users entering the crypto market should just make sure they are well prepared for those risks that will face. Crypto might give us a good and decent profit but that's not that simple as they think.

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[Abiky]

Please vote in the poll and explain your reasoning below...

Mid-way though Bitcoin's 2017 bull-run, Coinbase, the largest crypto exchange at the time, only offered the choice of three coins - BTC, ETH & LTC - before Binance even existed. Ethereum and Litecoin outperformed Bitcoin that year, especially after many new users saw their values had already increased much more than Bitcoin had, while only being given 3 investment choices.

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. Coinbase now has over 100 different altcoins, while the largest exchange now offers a choice of over 400 options. The days of turning to shady exchanges like Bittrex, Yobit and Cryptopia have long since passed.

But 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?

My reason to buy altcoins is to make profit. They usually have wilder fluctuations in price, than Bitcoin itself. But I wouldn't take them as a serious investment (except for Ethereum) simply because they can instantly "disappear" in a blink of an eye. I don't believe any other cryptocurrency will be able to surpass both Bitcoin and Ethereum, because these two have first mover advantage. Not only that, but they're the most decentralized cryptocurrencies in the world. Other coins may be faster and cheaper to use, but they lack security & reliability. It's why most investors trust BTC and ETH more than anything else.

I've already placed my vote, and was not surprised to see the majority voted for the same thing (choosing alts for profit). After all, most people are into crypto to become rich quick. What ultimately matters is the usability of any given cryptocurrency. As long as the cryptocurrency you're investing into provides real use cases to the mainstream world, nothing else matters. Remember, it's not about hype but rather "concrete results". You'll be on a road towards non-stop success if you play your cards right. Just my thoughts

[justdimin]

My reason to buy altcoins is to make profit. They usually have wilder fluctuations in price, than Bitcoin itself. But I wouldn't take them as a serious investment (except for Ethereum) simply because they can instantly "disappear" in a blink of an eye. I don't believe any other cryptocurrency will be able to surpass both Bitcoin and Ethereum, because these two have first mover advantage. Not only that, but they're the most decentralized cryptocurrencies in the world. Other coins may be faster and cheaper to use, but they lack security & reliability. It's why most investors trust BTC and ETH more than anything else.

Depends on the type of altcoin you invest. Not many coins disappear in blink of an eye, many of them still stay around, they may go down but they are still around. I get that XRP for example reached second ranked for a while, but now it is at 8th, which shows that it didn't go up as much as others, or BCH and BSV duo never liked by the community too much and it dropped in rank a lot as well they are very low now. These are just three examples, there are plenty of them around.

However that doesn't mean that most of the coins are like that, if you invest into something fundamentally sound then you will not be losing too much profit from them as well. I feel like they are definitely things that people could invest easily and then they could forget about it for 10 years and when they come back they will have plenty of profit as well, you just have to find them.

[tvplus006]

Of course for the profit isn't it the reason why we are all here in crypto?
To gain profit to earn money and most of us are expecting an easy profit from it let's just be honest no matter what people say it is the reason why they chose to be in cryptocurrency.

Altcoins provide an excellent opportunity to make a profit, which is often several times higher than the potential profit from bitcoin. In this case, you can use the resulting profit to increase the amount of bitcoin that you hold. But when investing in altcoins, you need to carefully select coins to buy, otherwise you will receive a loss instead of profit.

[JrRini]

Experts caution that Bitcoin is highly speculative, and altcoins are even more so. Ethereum, the most widely heard-about altcoin, has grown significantly since its 2015 launch, thanks to its smart contract capabilities and the popularity of digitally scarce art known as non-fungible tokens (NFTs). ETH has a market cap of more than $500 billion at the time of writing this article.

But don’t let the popularity of altcoins result in fear-of-missing-out (FOMO). Even crypto evangelists view the rise of cryptocurrency with some healthy skepticism.

“Everyone always looks at other people making money and they’re like, ‘what about me?’” says Nelson Merchan, CEO of blockchain events firm Light Node Media “But I think that the beauty of what crypto really allows us to do is reassess our relationship with money

[maju69]

I bought altcoins compared to bitcoin because I saw the possibility to skyrocket greater than hold bitcoin, as we know that the price of bitcoin is already expensive while currently many altcoins are very cheap even if we invest only $ 10 then the opportunity to get big profits because new coins are usually will burn or pump big.

It's actually the same, bitcoin and altcoins have the same potential. On the other hand, some altcoins are following the trend of bitcoin. But it comes back to ourselves, where is the most comfortable place to invest, because both of them have promising ones. But when it comes to the long term, I think I would prefer bitcoin.

[tygeade]

I bought altcoins compared to bitcoin because I saw the possibility to skyrocket greater than hold bitcoin, as we know that the price of bitcoin is already expensive while currently many altcoins are very cheap even if we invest only $ 10 then the opportunity to get big profits because new coins are usually will burn or pump big.

This doesn't really mean that you have to hold either the one or the other. I mean I do believe that alts have a better chance of skyrocketing to a higher price but that doesn't mean that I will not hold bitcoin neither. So, I have some of my investment in bitcoin and some of them in other coins and they combine to be a good portfolio. I have been in the green for a few years now, not super rich or anything but doing alright for myself.

I assume this will be the case for a while longer. This is why if you think bitcoin is safe, then spend a little on alts so you do not lose too much, if you think bitcoin is TOO safe then invest a little bit to bitcoin so it is still safe there.

[Desscount]

knowing that Altcoin prices have experienced a very deep decline,
all of you should not worry if you bought them in January or this month, because I feel confident that altcoins have reached a bottom price,
and in a few months if Bitcoin has experienced sideways and good news arrives, then altcoins will explode! like last year.
don't be late to buy altcoin mate!

[Abiky]

Depends on the type of altcoin you invest. Not many coins disappear in blink of an eye, many of them still stay around, they may go down but they are still around. I get that XRP for example reached second ranked for a while, but now it is at 8th, which shows that it didn't go up as much as others, or BCH and BSV duo never liked by the community too much and it dropped in rank a lot as well they are very low now. These are just three examples, there are plenty of them around.

However that doesn't mean that most of the coins are like that, if you invest into something fundamentally sound then you will not be losing too much profit from them as well. I feel like they are definitely things that people could invest easily and then they could forget about it for 10 years and when they come back they will have plenty of profit as well, you just have to find them.

Good point. There are a small number of altcoins that will survive in the long term because of their communities supporting them every step of the way. They often deliver concrete results than just focusing themselves on hype. I'd say Ethereum, Cardano, and BNB will survive because they bring real use cases to the mainstream world. They're reliable investments that will last for a very long time. You can simply buy such altcoins and "hodl" them knowing that they will still be alive in the future. I wouldn't say the same about Bitcoin forks like BSV and BCH, though.

Ultimately, buying altcoins is all about making money in the long term. As long as you play your cards right, you'll have nothing to worry about. Just my thoughts

[asyakashi]

Like traders in general, buying altcoins is intended to take some small to large profits. However , some coins I would potentially choose to hold for maximum profit . Like ETH, BNB, SOL.

[bojosari]

I'm sure to buy altcoins because I see a lot nowadays that there are many altcoin developers who always try hard to build their fundamentals well. Although bitcoin always has a big influence on the ups and downs of altcoins, many altcoin projects are growing day by day. holder that the altcoin is going to the moon.

[Questat]

Like traders in general, buying altcoins is intended to take some small to large profits. However , some coins I would potentially choose to hold for maximum profit . Like ETH, BNB, SOL.

Indeed, we buy and hold altcoins for one reason and that is to make a profit from them. And choosing the right coins is a huge factor in regards to what we want to happen and this is somewhat a very challenging part in crypto investment as not all were here are knowledgeable enough but mostly just follow the hypes and invest in what the other says.
However, it was too unfortunate that not all were able to reach their goal, many had fail and suffered the consequences and lose their hard earned money.

[toast]

I do it for fiat profit I trade mostly altcoins not to increase my satoshi or increase my altcoin holding but to have extra fiat profit I don't usually stay my coin on cryptocurrency since I mostly lose all my money before by just holding cryptocurrency so i learned my lesson, only hold fiat and only buy crypto to make a profit.

[eXtremal]

I am a long term trader, earning a few dollars to hold a few months to years seems very small. It's better to wait until the moon and take advantage when we have found the highest price. I am satisfied with the high profit.

[lenovop-70]

I voted Fiat profit above, and indeed basically I need Fiat to buy my daily needs, crypto is not accepted here. Maybe for my retirement fund I will put it in Ether or some other good coin like Matic or BNB. Simply put, I need Fiat for the short term and need Alts for the long and medium term, I think that's my answer.

[evichi]

Altcoins have indeed invigorated the crypto industry. There are quite numerous innovations in cryptocurrency that are Altcoins. I invest in Altcoins becuase the Altcoin(s) industry offer numerous opportunities that shows prospective growth. I have indeed experienced some gains in  some Altcoins that I invested in, showing that investing in Altcoins is not a bad idea so long as you have done your research and you have invested using the amount you can afford to lose. Just as every other investment, I buy Altcoin(s) for the primary reason that it will appreciate in value, then I can exchange it to some other coin/token or to fiat or re-invest in another Altcoin or Bitcoin.

[darewaller]

I honestly think that there are some that could "change the world". Not in a way that it would be like global and suddenly change everyone's lives, but there are some that actually show us how some things could be. Like for example there was a "first" DeFi somewhere, I do not know which one was first but I know that it paved the way, then there was UNI and Cake that took the first place and everyone knows about that.

This resulted with us learning more about DEX and the ecosystem of it. Then there were first NFT's, I believe cryptokitties paved the way and then we had all these art stuff and now other stuff as well. All in all that is a great way for some art protection, I know many hate it and I will never invest into it but it at least changed some stuff. So all in all we are talking about something that is magnificently different and that matters a lot.

[kawetsriyanto]

Even if it is to go to the moon, the ending is to get fiat profits for me  
Yes, converting the profits into fiat is what I am doing right now, so I can use them both for cashing out or even for other trading activities again.
for me, Holding Bitcoin may be a little bit different from altcoins. I may hold BTC much longer than altcoins because we don't exactly know how strong altcoins will be. And whether the altcoins will be exactly to the moon or not, will be back to the previous ATH or not. '
There should be some deeper analysis to hold altcoins for the long term.

I am a long term trader, earning a few dollars to hold a few months to years seems very small. It's better to wait until the moon and take advantage when we have found the highest price. I am satisfied with the high profit.

As you said here, it means that you need to find the exact project or altcoins that will be going to the moon. Long-term holding may work on some coins that we have, but sometimes,s it ends up in sometimes. however, if you are a long-term holder, I am sure enough that you have already understood to find the right type of altcoins that may have more potential future and go tot he moon.

[Oilacris]

I voted Fiat profit above, and indeed basically I need Fiat to buy my daily needs, crypto is not accepted here. Maybe for my retirement fund I will put it in Ether or some other good coin like Matic or BNB. Simply put, I need Fiat for the short term and need Alts for the long and medium term, I think that's my answer.

We do have our own choices neither fiat or crypto in long term then it is really our own choice which we do seem that it would benefit us out but of course you should be mindful
about the risks involved.

Reason on buying altcoins would be most likely be talking about  big possible profits could made out when the coin did really make out some significant rise.
Whatever the reason we do have then it would really be talking about investment which is to make profits no matter what kind of
strategy you would have.

[BIT-BENDER]

U haven't found a reason to but any Alt-Coins so here are my reasons for not buying, the good ones has a higher price tag, the Alt-Coins I could at least buy and hold on to aren't legit to my thoughts, many Alt-Coins out now maynhas a scam White paper and they are looking at achieving unrealistic expectations/goals set for themselves, I still stand to be correct ok this one but I think Alt-Coins is for a shorter time for buying and holding and also not to be bought at first with irreplaceable capital, be smart, when you are buying or selling on crypto-currency