Should I Keep Buying Bitcoin Alone if I Have Limited Resources?

[Rengga Jati]

Actually there are several conditions: if you want to
1. If you really believe we can afford it without disturbing finances for your needs, so you only use free money to invest
2. If you are really aware of the risks and you are ready
3. If you are really interested and not because of someone else's encouragement.

[Ziskinberg]

Actually there are several conditions: if you want to
1. If you really believe we can afford it without disturbing finances for your needs, so you only use free money to invest
2. If you are really aware of the risks and you are ready
3. If you are really interested and not because of someone else's encouragement.

Yes, it was indeed there are criteria for us to guide and help in making a decision. As long as it will give us satisfaction and the confidence that we can earn a profit from this, we no longer and not necessarily have to spread it with altcoins as it only gives us more stress. For me, investing in Bitcoin is a good decision and I know that it won't disappoint in the end rather than investing in altcoins we're not sure if that will turn into a scam. In fact, many investors are just focused on Bitcoin and feel they are happy with the results, unlike those people who are investing in altcoins where we can hear a lot of complaints.

[ElmedoRator]

You have limited resources in general and should prioritize risk management over chasing higher returns. Investing in lower-risk bitcoins can offer more stability and potentially preserve your capital better than investing in highly volatile altcoins. With limited funds, it's generally a good idea to focus on investments that are considered less risky and have a solid track record. Bitcoin, being the oldest cryptocurrency with wide adoption, may offer a relatively safer option. So risk management, staying informed, and being patient are key factors in pursuing long-term success in any investment endeavor.

[JeffBrad12]

I just think that investing in bitcoin is like accumulating your wealth though, if you seek for returns you better invests in an altcoin that's actually having better chance of turning around some measly investment into something meaningful but some small investment would definitely have near zero impact with bitcoin, since its value is too high for some people out there.
as you said, accumulating as much bitcoin as someone could can be done through various several means, like through investing in some altcoins and then convert the profits that you earned to bitcoin for the sake of growing your bitcoin investment.
after all, not everyone have the capability to just accumulate until 1000 btc, let alone that much, 1 bitcoin is already too much for many, so I think seek returns more when your capital is relatively low.

[gaston castano]

if you have problems with resources. and don't really want to take risks btc can be the right choice, but under these conditions no one expects btc to go up so fast.
so you just have to be patient and wait for that moment to arrive.

[Hypnosis00]

Talking about "Limited Resources", you'd rather use it wisely OP because if that will lose, nothing would replace it. If you are just aiming for a long-term investment, Bitcoin is literally the best option to take. Altcoins could also be another option but must take extra caution upon choosing them, especially for new coins and hyped projects. If we want profit assurance, Bitcoin should be on the top among crypto.

But I would suggest just think it wisely, the risk is always there in the crypto space, and you can't guarantee safety but at least choosing Bitcoin give you a different situation.

[smile1218]

Investing in bitcoin or any other asset with limited resources can be a risky proposition. Bitcoin has seen a significant price increases in the past, it is important to remember that past performance is not indicative of future results. If you do decide to invest in bitcoin, it is important to do your own research and try to consult a financial expert to determine if it is suitable investment if you have limited resources. It is important to only invest what you can afford to lose as crypto currency market can be volatile and unpredictable. Never invest if you cannot afford and you will take risk to take a loan just to invest, do not do it.

[Apocollapse]

The early adopter didn't even looking and know if they will make a lot money by investing in BTC, they're buy or mine Bitcoin because they believe the project and they're looking for the use case. Satoshi never say Bitcoin will reach x price in the next year or ten years later, actually almost all altcoins right now promise about return, which is clear they're not give any use case, but just want to make money and scam the investors.

I don't think there's an another new coin which could be like Bitcoin, if there's in the future, that coin should overtake Bitcoin since it's better than Bitcoin.

[justdimin]

if you have problems with resources. and don't really want to take risks btc can be the right choice, but under these conditions no one expects btc to go up so fast.
so you just have to be patient and wait for that moment to arrive.

Resources can mean money so if one is limited or doesn't have a budget at all, it's still useless to recommend Bitcoin to them because they can't still buy it. Maybe the one that they should think for now is how to get a job. BTC can just wait so one must not rush on it.

We can also apply for a BTC paying job online and get paid in Bitcoin directly. This way, there is no need for us to buy it using a fiat. There is also a Bitcoin faucet which can be done by anyone. No skill needed here. Yes, the drop rate is tiny but if we can use multiple faucet at once, I think that will still be a good amount if we sum them all together. This is less risky than investing directly. We won't care if BTC will drop because we only obtain it for free anyway.

[killerfrost]

I encourage you to learn more about this investment and its risks. You need to weigh and manage your risk to avoid losing money. Because the crypto market in general today is very accessible and there are a lot of negative things surrounding it, especially in the current context of the market we are in a difficult period and many issues are not really clear. Recently, the HYPE story has appeared a lot, and investing in bitcoin will face many obstacles if you do not have the right view of bitcoin. Set personal goals and approach it according to a plan, each person will have a different understanding and approach to bitcoin, but most of the time when I look at this market when you are strong enough, you will avoid it want to take risks and choosing bitcoin is always the beginning and the end.

[deean_3one]

Bitcoin is the best coin in crypto. Having Bitcoin is one good investment. Crypto is highly volatile. But the one who leads or who guides the price is Bitcoin. If it goes up then the price of alternative coins will also go up. Therefore, Bitcoin is the safest investment in crypto because the risk is smaller compared to investing in other coins.

[Wexnident]

Wouldn't they have something more to say to people than, "just buy BTC?".  What would they tell people should be the criteria for their investments?  What coins do you think these early crypto investors are investing in currently as a compliment to BTC & ETH, that they believe will help newer investors meet their present day goals?     

Well the question is related to BTC, such as "Should they buy BTC" after all, so I reckon the answer of just buy it is actually more than enough of an answer. After all, considering the positions of early investors, I don't think they've made a loss if they've continued hodling till now. Criteria for choosing another "Bitcoin" though? Kinda hard to give since it's been a decade and Bitcoin's still the king. The rest of the coins that were released are either shitcoins, or Bitcoin but with caveats (as well as its own advantages, but caveats still are above it imo). If it was just choosing another coin, well that depends now on how well us as investors can actually understand what they want to do and what their plans are.

I believe helping new investors achieve what they want is close to nill, at least in the short term. A lot of money is lost in the process of learning to invest, and I highly doubt they'd stay after losing a few thousands of bucks. If they stay though, that just means they're prepared to lose more, not necessarily achieving their goals immediately.

[cute nmp]

If you don't have a lot of money to spare, it's probably not a good idea to only invest in Bitcoin. Buying Bitcoin can be risky, and if you put all your money into it, you could lose a lot . It's better to spread out your investments and consider other options .Remember to invest only what you can afford to lose.

[fullhdpixel]

You have limited resources in general and should prioritize risk management over chasing higher returns. Investing in lower-risk bitcoins can offer more stability and potentially preserve your capital better than investing in highly volatile altcoins. With limited funds, it's generally a good idea to focus on investments that are considered less risky and have a solid track record. Bitcoin, being the oldest cryptocurrency with wide adoption, may offer a relatively safer option. So risk management, staying informed, and being patient are key factors in pursuing long-term success in any investment endeavor.

I pretty much agree with that, when you know that you can't afford to lose the money that you have, you should first of all not invest in cryptocurrencies, but if you want to do that with the limited resources that you have, Bitcoin is probably the best option considering it doesn't have the possibility of rug pulling or crashing to the end of its tail, so you will not be much worried.

Some altcoins might be able to provide higher profits in a shorter period of time but there is more risk in investing in them as anything can happen at any time and we have seen that happening with a lot of altcoins in the past.

[fvb]

I hear a lot of people asking this question, "Should I Keep Buying Bitcoin Alone if I Have Limited Resources?"  I think one person I hear them asking this to most is an investing influencer that made all of his money in the stock market, and in 2019 made the shift into the crypto markets, accumulating Bitcoin and Ethereum at that point.  I would say he has over 1000 BTC.  Now he is even looking for opportunities to convert his ETH to even more BTC because there is only 1 king.  Not only does he think BTC could enter a new phase of outperforming ETH if BTC undergoes mass adoption at some point, but he understands the long term benefits of BTC and all that is implied for BTC because of it's scarcity and superiority.  He views ETH as a trade only and he sees BTC as something that you only accumulate and never sell any of.  This is the instruction that he gives everyone, including people who ask him, "Should I keep keep buying only BTC if I have limited resources?".  The resounding answer from him is "yes, just keep buying BTC and don't ever sell it".  Which I would actually wholeheartedly agree with if they were already wealthy people like he is, but maybe what they are politely trying to ask him is, "what can I do to reach my goals like you have?".  They, being able to see the end from the beginning, which is that if their position in BTC never grows to anything substantial enough to help them reach their goals, how relevant is the greatness of BTC to them.  While an influencer from 2019 has done very well for himself in the crypto markets, aren't there crypto investors that go back to like 2011 and or before that have their roots in crypto and know an exact strategy and approach to help newer people reach their goals in crypto because they have done it themselves?  Wouldn't they have something more to say to people than, "just buy BTC?".  What would they tell people should be the criteria for their investments?  What coins do you think these early crypto investors are investing in currently as a compliment to BTC & ETH, that they believe will help newer investors meet their present day goals?     

Very long post. It is likely that all your questions can be combined under one simple question. To buy or not to buy. Buy both coins if you have assets. But all this confusing verbiage has nothing to do with investing. There are two options here. That is, the availability of funds and the desire to invest. And don't bother with incomprehensible arguments. Just buy or not, and analyze the rest more

[Huppercase]

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There is opportunity in every projects and altcoins, they depends on how you use it and when you use it, it is no longer new that Bitcoin is the king of all, people with big resources prefer to put their money in BTC but I will also tell you that there are some people that had the opportunity to earn the same profit bigger investors earned with less capital in altcoins, this is the power of altcoins because when they want to grow, the hype and market cap gives room for wider growth and everyone always have interest especially when there is fomo in the market, do the research that is necessary and buy with money you can afford to lose, you will make moeny from altcoins in the bull run.

[isaac_clarke22]

-large text snip-

Who's this "investing influencer" you're talking about, Winderl?
Surely that "investing influencer" still has something unmentioned aside from the answer s/he gave. I would not keep buying BTC when resources became like a scarce for me. I would not loan or/and sell my land just to invest in crypto. That's too much desperation on my own end and that's like digging myself a hole that I would not be able to get out from.

About those crypto investors back in 2011, surely they would say the same of "just buy and hold BTC". It isn't rocket science. Just invest what you afford to lose and forget about it in around year or two. What coins do I think that these early investors hold in complement of BTC and ETH? Surely it is still Bitcoin. Just from how there was massive waves of scams happening to each trends, I won't even attempt to try in the altcoin side if I was that investor though.

If you don't have a lot of money to spare, it's probably not a good idea to only invest in Bitcoin. Buying Bitcoin can be risky, and if you put all your money into it, you could lose a lot . It's better to spread out your investments and consider other options .Remember to invest only what you can afford to lose.

Depends on where you invest your coin. I would invest in Bitcoin instead of other shitcoins out there if I have less money to be intended for investment. It's not just worth the risk of losing it over something that's obvious that it isn't going to be profitable in the long-term

[laurenB7742]

If you don't have a lot of money to spare, it's probably not a good idea to only invest in Bitcoin. Buying Bitcoin can be risky, and if you put all your money into it, you could lose a lot . It's better to spread out your investments and consider other options .Remember to invest only what you can afford to lose.

Depends on where you invest your coin. I would invest in Bitcoin instead of other shitcoins out there if I have less money to be intended for investment. It's not just worth the risk of losing it over something that's obvious that it isn't going to be profitable in the long-term

Whatever Bitcoin or Altcoin, when making investment decisions, you should consider your investment goals and risk tolerance. Investment strategies must incorporate diversification and risk management. You know, because of factors such as increased volatility, lower liquidity and limited adoption, altcoins can indeed carry higher risks than Bitcoin. The upside of altcoins, however, is that they can also provide opportunities for growth and higher returns .

@OP, Keep in mind, you should manage your risk effectively, regardless of what assets you invest in. Whenever making investments in cryptocurrencies, it is always an excellent idea to seek advice from market experts or financial professionals. In order to accomplish this, you can use tradingview or any other website where traders are allowed to freely share their experiences.

[smyslov]

It's recommended if you have limited funds or limited resources to buy one coin that has proven its worth in the market and that coin is Bitcoin, I always advance new investors or small investors to only go for Bitcoin as a starter and only add more coins in their portfolio after they had enough funds and already educated on what and how to look for a coin as a good investment, but Bitcoin should be a priority buy.

[DoublerHunter]

If you don't have a lot of money to spare, it's probably not a good idea to only invest in Bitcoin. Buying Bitcoin can be risky, and if you put all your money into it, you could lose a lot . It's better to spread out your investments and consider other options .Remember to invest only what you can afford to lose.

^I don't see a risk at all if you have a plan for holding it in the long term, not the short term.
BTC can be highly volatile, and its value can fluctuate significantly over short periods. If you have limited resources and cannot afford to lose the money you invest, you probably want to reconsider the DCA way of buying BTC, it is a strategy where you invest a fixed amount of money at regular intervals, regardless of the asset's price. It can be a useful idea when investing in BTC or any other volatile asset, especially if you have limited resources. I will consider BTC a good investment than the altcoins.