BTC or altcoin

[Spacebar96]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

[TravelMug]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

Depends on how you look at it,

Are you for the long haul? meaning you are willing to buy that amount and not touch it till the next bull run around 2024-2025?

Or if you are short term investors then better look for altcoin in my opinion. Not sure how you can look at promising altcoins though because they are very hard to spot in the beginning unless you got lucky.

[Kemarit]

My take is nothing beats Bitcoin as far as investment goes specially if you are willing to invest money that you can afford to lose and then you will be a long term holder. And this is the right time to buy since the price is still very cheap. And just imagine if in the next bull run, the price goes to like 6 digits.

But as far as risk goes, meaning more risk bigger reward, then there could be few altcoins that could be good as a investment, maybe a few ETH or BNB or ADA will do for you. But there could be more riskier, and there could be element of what we call pump and dump.

[raidarksword]

It could be both, depends on your specifications on how you put your venture with but definitely I would go to BTC hence this is the buy zone of bitcoin right now due to bad market sentiments. Some altcoins are worth it too, any top 10 on CMC is nice to buy and hold too.

[Crypt0Gore]

It depends, what do you know about crypto projects? I asked this because your account says you're still a newbie.

The safest investment plan for a newbie is Bitcoin, if you are good at doing research on projects then you can make some picks from top 20 to top 30 on coinmarketcap.

If altcoin is your heart desire you need some time to learn how to do good research, altcoins are very risky and more volatile than bitcoin, be careful.

[kotajikikox]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

I will not recommend replacement if you will tell us how much time we are talking here? i mean how long are you going to hold? or at least how long you wanted to keep it there or will short term.

Bitcoin is the perfect timing for this as now it is starting to increase value , but if you wanted to see your money in x10? then there is nothing we can recommend but shitcoins.

[ethereumhunter]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

$800 is enough to buy bitcoins and keep them for a while. I do not recommend buying altcoins but my advice is to buy bitcoins because bitcoin is the main investment for investors.

While there are promising altcoins, we will never know which altcoins because there are so many altcoins in the market. And even if you intend to buy the top ethereum or bnb, that doesn't guarantee that those coins can stay at the top spot in the next altcoin season.

[inthelongrun]

It depends on what you what? The surest and most stable is BTC, it could be easy x4 in the next couple of years. The most stable altcoins that are proven are ETH and BNB, these 2 coins can probably grow x10. The riskiest are the low market cap coins and the newly launched ones. They can grow x100 or even more but you can also risk losing your investment. My latest newly launched project where I spent $3,000 is now worth $10 although it might recover, it will be hard especially if its community, supporters, and investors cut their losses and left.

Even if it is only $800, you can still diversify it a little. Let's say $300 for BTC, $200 each for ETH and BNB and you can search for a low market cap coin or newly launched coin for the other $100. And you can also do a dollar-cost averaging on bitcoin.

[Maidak]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

Investment in altcoins can be profitable too, but it is riskier and it seems like you aren't going to be able to do the research that is required to invest, so my advice is to stick to bitcoin investments. Bitcoin can help you gain profit as well as reduce risk to a minimum.
Do not invest in altcoins if you are not capable of doing your own research, and do not listen to anyone's advice when investing in altcoins. Altcoins are very risky, unlike bitcoin.

[blockman]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

Why think of a replacement for bitcoin if you know what bitcoin is and what's potential of it in the future?
Just buy bitcoin and no questions about that amount and keep on going with it and have a plan or goal set of having at least this xx amount of bitcoin which you'll do in accumulation through DCA.

[traderethereum]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

I advise you to buy bitcoins instead of buying altcoins.
And if you can get even bigger profits, you can continue to buy bitcoins because the potential for increasing bitcoin prices could happen again.
But don't buy immediately with all your money, but buy gradually so you can buy bitcoins at every low price.
But if you buy altcoins, you might find it difficult to choose an altcoin because there are so many altcoins on the market that promise you can make big profits unless you want to buy the altcoins that occupy the top positions.

[Adbitco]

Obviously bitcoin is more preferred than altcoin. Now lemme tell you little story about altcoin which I passed through then, during 2017 bear market I had some Ethereum token with me so I couldn't bear the dip and a friend of mine was suggesting I should convert my ETH to bitcoin then so it could be more secure and possibly would not loose value entirely I never pay attention which I ended up selling it at a very cheap price. So investment depends on what you wanted but naturally I would asked you to invest in bitcoin.

[fullhdpixel]

It depends on what you what? The surest and most stable is BTC, it could be easy x4 in the next couple of years. The most stable altcoins that are proven are ETH and BNB, these 2 coins can probably grow x10. The riskiest are the low market cap coins and the newly launched ones. They can grow x100 or even more but you can also risk losing your investment. My latest newly launched project where I spent $3,000 is now worth $10 although it might recover, it will be hard especially if its community, supporters, and investors cut their losses and left.

Even if it is only $800, you can still diversify it a little. Let's say $300 for BTC, $200 each for ETH and BNB and you can search for a low market cap coin or newly launched coin for the other $100. And you can also do a dollar-cost averaging on bitcoin.

I think the most stable is obviously tether, busd, dai and other stable coins and then followed by alts like eth and ltc. Btc on the other hand is known to be a highly volatile coin but I think many people call it the most stable is due to the fact that it never fails them. Btc can recover no matter how low its price can go. It also exist first than the others so it had lots of experience that people have witnessed even not in actual but only by looking at the chart history.

I do believe that btc can times 4 its price but for the two alts that you mention, I am sceptical about it. 10x is too high imo even though they are not that heavy as btc but they are still a good option or addition other than btc. Low market cap coins are risky yet rewarding however the op only said coins with a promising future. I think low market cap coins doesn't have that.

[bitzizzix]

If you want to have a balanced portfolio you should invest at least 50% in bitcoins and diversify the rest in altcoins.
and I think both can be good and it depends on your interests and financial goals, do a good analysis and if you want to choose an altcoin, choose the oldest and top altcoins like Ethereum and BNB. And you still have to prioritize 50% for bitcoin, and do both for the long term.

[Jody.Drummer]

It depends on how you see it, if I personally were asked a question between bitcoin and altcoins, then I would prefer bitcoin. But if I can do both, I will also do that, I mean I can invest in altcoins and bitcoins. But in this case I will prioritize my money for bitcoin, even if it has to be divided then bitcoin will get the most percentage of the amount of money I have to invest. It comes back to you, also sometimes how long are you ready to hold the asset that will really matter, in the short term or long term? usually i put bitcoin for long term and altcoin for short term.

[goaldigger]

What replacement coins would you recommend?

Buy Bitcoin and the top altcoins, you can divide your capital with the altcoins as well.
2023 will be the start of recovery so its not too late to buy right now and hold until the market enters the bull market. I’m using extra money as well to buy bitcoin, eth and bnb to be more specific because I know they can easily recover, they are just waiting for a good breakout that could trigger the bull trend.

[Sterbens]

If you want to have a balanced portfolio you should invest at least 50% in bitcoins and diversify the rest in altcoins.
and I think both can be good and it depends on your interests and financial goals, do a good analysis and if you want to choose an altcoin, choose the oldest and top altcoins like Ethereum and BNB. And you still have to prioritize 50% for bitcoin, and do both for the long term.

Yes, what you say can be an option to use to invest money in both. Bitcoin is the main thing, the rest are many choices to choose which altcoin to like and with offers a bright future. In this case altcoins that already have high credibility can be an option for investing. But if you want to take a big risk, then even a new project can be an option, provided that we are really ready to lose.

[Bitstar_coin]

Obviously bitcoin is more preferred than altcoin. Now lemme tell you little story about altcoin which I passed through then, during 2017 bear market I had some Ethereum token with me so I couldn't bear the dip and a friend of mine was suggesting I should convert my ETH to bitcoin then so it could be more secure and possibly would not loose value entirely I never pay attention which I ended up selling it at a very cheap price. So investment depends on what you wanted but naturally I would asked you to invest in bitcoin.

So what is the lesson of this story? Because eth has done very well since 2017 to date just as btc did, you did not gain because you weren't patient enough. In fact, assuming you were holding your eth since 2017 till now, you will still be in profit.
So in essence, certain alts can also give profit provided the person has the ability to exercise patients.
Btc no doubt is the best choice but the investment can only yield the necessary benefits only if the investor can wait, anyone buying btc now will not expect to earn good returns by next year due to the continuous bear period. So at the end of the day, waiting for market recovery is still important otherwise it will be all for nothing.

[posi]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

You can buy altcoins, but how do you find potential altcoins that can make you profitable in the future, or are you just buying with uncertain predictions? There's nothing wrong with investing in altcoins, but it's hard to know which altcoins have real potential. So my suggestion would be bitcoin, with bitcoin, you don't need to spend a lot of time searching and you also don't have to worry your investment won't be profitable. If bitcoin can't make you a profit, then no altcoin can do it.

[Ararbermas]

I recently made some money through Amazon Kindle Direct Publishing, and I'm considering using it to purchase some Bitcoin. Only a tiny sum, roughly $800, is involved. What do you suggest doing right now? Purchase some Bitcoin or another cryptocurrency with a promising future.

What replacement coins would you recommend?

if i were you much better to rely which still reliable and surely you can get a good return afterwards than seeking for new investment especially when it comes to alts that so unpredictable even though you see it good and very promising..  I would suggest to focus on your first coin then second option is bitcoin since it still down..