As a newbie I stay off shitcoin and it paid off, Bitcoin is the king.

[lienfaye]

For newbies who don't have knowledge yet about crypto, choosing Bitcoin to invest in is advisable especially if your plan is to hold for long term. Because Bitcoin is more reliable compared to alts and it's less risky. You made the right choice to stick for Bitcoin. However diversifying is not a bad idea, but this is if you already gain knowledge about crypto as a whole and aware of what factors to consider when looking for alts to include in your portfolio.

There are hidden gem in altcoins which can give you huge profit but it's not easy to find it. Even experienced investors are having a hard time to look for such coin since deep digging is necessary.

[Cookdata]

After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.

When it comes to earnings in the crypto sector right now, even bitcoin cannot compete with altcoins' performance, they are quite good at producing nice ROI, but their drawbacks might make you hate the crypto market. Bitcoin, on the other hand, is quite safe, it has a high return but not as high as altcoins, but it does not crash as frequently as altcoins do, and it is less volatile since bitcoin is more decentralized than altcoins. Only with altcoin projects will you see a token/coin concentrated in the hands of teams and groups of people who may crash the price as they see fit, which does not happen with bitcoin.

[Getmon]

For newbies of cryptocurrency market, it is vital to be educated first before investing. Your friend without a doubt was cajoled by his desire to become rich quickly. He saw that shitcoins have the likelihood of swinging up to over a hundred times. But if he was aware of the risks behind it and only invested money that he is willing to lose quick then I see no issue with it. A number of people choose to gamble into shitcoins for the same reason, obtaining wealth quickly.

Bitcoin will always be the best to invest for newbies because of its stability compared to altcoins. Just buy using DCA and hoard it long term. Risking into altcoins is all right when you already mastered the crypto market.
 

[Ojima-ojo]

Bitcoin investment for a long time holding is a very good one, because it reduces the stress of migration or Swap like all these new coming alt-coin has been doing, which many investors have been dropped behind in sense of lack of information on the migration process in due time, Therefore, I still prefer bitcoin with a less stress for a long term holding.

You made a very valid point with this comment, Bitcoin saves us the stress of swap and coin movement from one chain to the other which is why you don't lose with bitcoin, and most times those altcoin holders will not even notice when their token has migrated to another network and their end up losing their holding since the swap is always with a time frame.

[RILWAN]

You made a very valid point with this comment, Bitcoin saves us the stress of swap and coin movement from one chain to the other which is why you don't lose with bitcoin, and most times those altcoin holders will not even notice when their token has migrated to another network and their end up losing their holding since the swap is always with a time frame.

Ops as a newbie you should learn how to properly manage your portfolio most especially if you are in as an investors because relying on Bitcoin alone may take longer to achieve your aim and desired profits and sometimes you also lose with Bitcoin too e.g those that bought Bitcoin at the all-time high price of $69,000 are at heavy lose right now.
So investment has to do with time calculation also, altcoin can give you insane profits in a short time when you pick the right coin.

[libert19]

Shitcoins can give lot more profit in bull markets where people buy anything and everything. In current situation where you aren't sure where exactly market is going, better to stay in BTC or Ether at most.

[alastantiger]

It takes so much self-control to not dabble into investing in shitcoins especially when one have friends who are making a few bucks off of it.

I remember one of my friends who calls himself shitcoin Lord because of his love for shitcoins. Well, I stay in my lane and have learned from his experiences of loss. It is a path I will never tread. Bitcoin today, bitcoin tomorrow, bitcoin forever.

[CryptoHeadlineNews]

Every price is a good entry price just that those that gets to buy at lower price have a double advantage of it been a store of value and also gets more profit when it pumps.

Yes. I agree with you on this very statement of yours, because Its simply because those who bought at a lower waited till this moment, that's why are at advantage today,  and it also means if you too can buy Bitcoin today and can be patient for the next 2 to 5years, so will you also be at advantage too, and just as you earlier said. Bitcoin has no entry price, any price is a potential entry price

[Kelvinid]

Shitcoins can give lot more profit in bull markets where people buy anything and everything. In current situation where you aren't sure where exactly market is going, better to stay in BTC or Ether at most.

That is why there are still a lot of people buy shitcoins and are willing to take risks even though they know that these are shitcoins. You can't just simply think how they go to x1000, x1500 times. If you are looking for practicality, you can't really ignore this but also it will encourage you to invest as well. That is crazy but many people love it.

People are buying BTC and potential altcoins during the bear season but they are buying useless and scam coins during Bullrun.
And they got paid off...

[fortunecrypto]

You made the right decision to stay on Bitcoin as a newbie and for small investors, it's the safest choice, but your mindset will eventually change as time goes by, and you will be tempted to invest in altcoins when the market gets better and there are projects creating a good platform and making headlines in the industry, there's always a big temptation to invest in altcoins because some altcoins are contributing to the adoption of this technology, Bitcoin and altcoins are here to stay, you just have to pick the right altcoin to invest.
Bitcoin should have the biggest percentage of your portfolio.

[Odusko]

From the ups and down I'm with altcoin that has affected the entire cryptocurrency market, to the Luna crash and now FTX, the year has been filled with unpleasant events and a lot of frustration in the air.
Bitcoin indeed has shown to be the most reliable coin to hold at the moment most especially now that the price is low, the most important attribute that will make a winner any time anywhere is to buy Bitcoin when the markets low and the price is down.
Deciding to hold bitcoin at this time is the best decision to survive this hard time in the entire market but the most important thing is to hold your Bitcoin in your private wallet and not in exchange.

[libert19]

~

You can't just simply think how they go to x1000, x1500 times. If you are looking for practicality,

Practically 1000x is far fetched, most give 50x-100x at max. Very rare one would go beyond that, provided one has capacity to hold until such returns are fructified.

[CryptopreneurBrainboss]

This is right, But maybe we should clarify first what shitcoins is really being described by OP, some people categorized all altcoins as shitcoin but some people only categorized worthless altcoins such as meme coin as shitcoin.

Ignoring altcoins that has a lot of potential to grow such as blockchain token is just like fishing only small fish while the big fish is free nearby just because you are scared to venture out.

All altcoins aren't shit coin but they're potential candidates though, I think a typical shitcoin are those projects that get launched without any intentions of been worked on. Like they have no actual development plans, or any problem they intend solving which means they just rely on hype of future gains to drive up interest in their projects. This type of project usually rely on tokens burns, airdrop or other activities that'll interest speculators to see the project pumping in future so they buy now.

Usually they disappear or exit scam immediately interest drops from the project, since there only reason for relevance was because they were hyped and could give huge return when trading. Mainly we have meme coins in their numbers in this category that's why they're associated with the shitcoin but that doesn't mean other projects that aren't meme coin can't be called shitcoin as well.

[Peanutswar]

Newbies would like to take their chance and risk to the new coins or altcoins because of having a big return that's normal if you are willing to have a risk capability and also it depends on how long you would like to hold once the bitcoin moves a little bit it has a huge impact with the altcoins that's why they want this kind of volatility. Well depends how you will look your holding if this is for a long-term or not investment is not only putting your assets but also analyzing the possible risk and making a plan to prevent losses.

[Alisha-k]

The same quick profits will ultimately lead to quick losses, I don't trust shitcoins and I don't look for their so-called quick returns, because they're just Ponzi, and the bubble will boost as soon as possible. I am aware of the one fact that altcoins always promised to be the best profit-maximizing mechanism for now but to maintain stability, one needs to hold a less volatile assets like Bitcoin vs shitcoins.

Bitcoin can not just crash the way other altcoins do crash, and Bitcoin is always recovers anytime there is a dip in the bitcoin market.

Yeah Bitcoin remains king over all crypto currency but altcoins cannot be completely neglected. I don't Believe Bitcoin will make the exact massive move it did 2017 any time soon. It took almost 9 years to break $1k and another 4 years to get to its ATH. Bitcoin obviously has potentials but it will take a while to make good profit. Altcoin can just serve as a sharp shooter although it is not a game for everyone it is for the smart and less greedy.

[Bholutefe]

Indeed, no other coin beats Bitcoin when it comes to Cryptocurrency coins, it has a very high and worthy value among other coins whereby it’s the master of all other coins. I would never invest my money in any other coins apart from bitcoin. One of the many reasons for that is because there are much more better assurance and rest of mind when you invest in bitcoin, although there are rise and fall seasons for cryptocurrencies in general, the only key factor to have in mind is patience. When you are patient enough to wait for appropriate rising seasons whereby the coins rises up and you get to make your profit without any form of losses. Investing on cryptocurrencies requires adequate patience and not investing on anyhow cryptocurrency.

[Viscore]

After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.

First, there’s no easy way to make profits so learn to invest not for quick profits but definitely for long term goals. And with that, bitcoin will always be the most reliable and trusted coin for long term investment. Although there are altcoins who also excel in long term hodling, but they can never be profitable with short term hodling as most of them suddenly lost in the thin air without the chance to see value progress. Second, never trust centralized exchanges for your potential investments. There will surely be next events following the FTX drama.

[Distinctin]

Altcoins have always been short-term cryptocurrencies one buys and sells quickly, if you do things that way you might be lucky enough to accrue some ROI, other times you might not; but if you consider hodling them for the long-run the chances are sky high that you'd never be lucky as they have no/fake utility, quite a lot of altcoins have their utility only in the promises of the owners, which more often than not never comes to fruition. Having said that, Bitcoin has an actual utility, that is what makes the difference, and that's why you'd always expect the price to appreciate again, even if it has been down for so long, it's also the reason why Bitcoin can't basically die/go into oblivion like most altcoins do after a few years/months/weeks.

However, I believe there are still some altcoins that have been giving significant profits in just a short period of time, but I also believe most of them do well when hold for long term. So if you aim for real and limitless profits, do not just go for potential altcoins, but maximize investing with bitcoin. Because when it comes to high utility cases, you can never go wrong with bitcoin. Investing in bitcoin for long term is more possible with its higher market demand which made it possible for a lot of potentials for higher returns.

[2stout]

You are wise for a newbie for realizing Bitcoin is the king and sticking with it.  I've said it before and I'll say it again, many shitcoins exist just to relive folks of their Bitcoin.

[Daniel91]

Looking at what's going on in the crypto market right now, investing in bitcoin and holding it really seems like the safest option.
It can be said that there is already a rule that when bitcoin rises, altcoins rise even faster, but when bitcoin falls, all altcoins fall, much more than bitcoin, and many altcoins never recover, unlike bitcoin, which has been around for 13 years.
I still regret my mistake when I invested part of my bitcoin earnings in 2017 in some promising altcoins, which failed in 2018 and never recovered.
During that time bitcoins have fully recovered and I have no doubt that this scenario will repeat itself for bitcoin.