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

[Winderl]

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?     

[Doan9269]

If you think you're really interested in making a profitable investment with lesser risk then first considers bitcoin, later if you're getting along and have improved more in knowing about how to research other cryptocurrencies, you can give a try on Ethereum as well and any other cryptocurrency you think worth it and deserves your investment after a thorough research on them, don't also get too involved in many altcoins because of the scam projects and don't invest on tokens if you're intending to hold for long.

[dwminer1]

Bitcoin seems to be the safest investment in the world of cryptocurrencies. If someone just wants to regularly allocate some amount for investment and forget about these funds for a long time, then bitcoin seems to me to be a good asset. However, if someone wants to get more involved in the world of cryptocurrencies, then diversification is advisable. There are many interesting projects on the market that can bring more profit than Bitcoin over time, but you need to follow these projects on an ongoing basis, because there is also a greater risk of failure.

[goaldigger]

Even if you have limited resources its still advisable to diversify, though Bitcoin can be lesser risk for long term time frame there's still no assurance for its peak price so I suggest to buy other good crypto as well and do the DCA.

Don't go all in regardless of its value, that is too risk so if you want to be more profitable then invest wisely. I prefer to allocate 50% of my investment to Bitcoin and the rest will serve as my capital for trading and altcoin investments.

[abel1337]

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?     

I learned a hard way by selling my BTC because of the lack of funds in real life. The meaning of limited resources depends on what kind of person you are asking but for me limited resources means that you only have money for necessities and extra money for something. I believe that we should invest on BTC if we are secured in real life like having savings and emergency funds. I sold my BTC back then because if don't have any funds at that time and I experience an emergency that force me to sell my BTC at loss. I learned my lesson back then and now I'm confident that my Bitcoins won't be touched even an emergency happen again.

[SyndicateLabs]

IMO, there are several points and thoughts in your post that I would like to note. Buying Bitcoin or other cryptocurrencies is an investment decision, and it carries many risks. It is important to have a well-thought-out and well-formulated investment plan in place before deciding to invest in any currency. Accumulating Bitcoin and holding it for a long time can be of great benefit to resourceful and patient investors. This is not an investment strategy that works for everyone, and needs to be carefully evaluated and considered. For newer investors, investing in these currencies can require in-depth knowledge and experience to make the right investment decisions.

[coin-investor]

I hear a lot of people asking this question, "Should I Keep Buying Bitcoin Alone if I Have Limited Resources?"

For me yes if your investment is small buying the safest is the best choice, you can only diversify if you have large funds I was faced with that scenario and it's not logical to diversify with a small amount so I picked Bitcoin and that's the best decision I've made, if I have diversified with a small amount I would have lost half of my investment, so I prefer the safest one which is Bitcoin, it will go down but it will eventually recover.
Bitcoin should have the largest bulk or the main coin in your portfolio.

[Beparanf]

-snip-

For starter, try to split your statement into paragraph so that it will be easier to read and understand. It very hard to finish reading the whole content due to the small text and very long context without separator.

It’s true that purchasing only Bitcoin when you have a limited resources is the best way to maximize gain since Bitcoin price is the best performing crypto asset in long run. Wasting your money on risky shitcoin will just make your investment slow to grow because shitcoins is worst during bear market. Buy only Bitcoin and keep holding until your bags is already. This way you can guarantee a maximize profit on crypto with less risk.

[Ojima-ojo]

Let me put myself in your shoes, whether or not I have limited resources or surplus resources, I will put 100% into BTC this is because Bitcoin offers more stability for long-term usage and profitability, so for a starter, it is better to look into assets that have proven track records of success and bitcoin is the only cryptocurrency that qualifies for that category of long term stability and sustained market over time.


Invest in altcoin only if you want to gamble with your investment which I am sure no one will be ready to risk their money on uncertain investments like bitcoin which can be easily pumped and dumped at any time.

[Lagduf]

You have made it clear if you have limited resource and why do you try to force your self to buy the coins that have very high price for a coin? Forget bitcoin and ethereum then move to the altcoin. Altcoin is the possible thing that can multiple your money.

Think about that wisely. The choice is yourse. DYOR.

[zonefloor]

As his friends said, the safest investment source in the crypto money investment world is bitcoin. But with limited resources, you need a large capital to become rich on bitcoin. Because if bitcoin is 100 thousand dollars as of today, you can get 4x at most. But if you say that I don't need a lot of money, this amount is enough for me, it makes sense to make this investment. But if you want to make more money, sensible investments with serious analysis can make more money without taking too much risk.

[wajik-tempe]

Experienced crypto investors who have been in the industry from its inception are likely to take a more sophisticated approach to investing. They have watched the growth of the crypto sector and may have investigated initiatives other than BTC and ETH. It's difficult to give specific coin recommendations to younger investors because the cryptocurrency market is very volatile and vulnerable to quick fluctuations. The terrain is continuously changing, with new initiatives sprouting up and old ones growing.

[Yatsan]

If you have limited resources and you are that eager to invest, chase after less risk than profit. Choosing altcoins would put your funds at a bigger risk than with Bitcoin or other assets. Every asset has volatile market prices but atleast you would be able to compare which would have a more volatile one. I won't agree with others who pushes bigger risk and reward if you have limitations with your funds in the first place. Why? 'coz that would be a gamble. The bigger yout capital is, the more you would be able to endure market price changes ofcourse. Manage the risk all the time.There's no easy profit in any industry so better be more careful with a more volatile one.

[gurunanakji777]

If I were in your position, I would diversify 50% of my funds to BTC and 50% to ETH and I must say If you can manage to buy you must try to buy and retain them for a substantial duration, akin to a fixed deposit in a bank that yields good interest.  In my opinion, BTC is a valuable asset for individuals who can hold it over an extended period. My top priority is always BTC, followed by Ethereum and BNB.

[Silberman]

If you think you're really interested in making a profitable investment with lesser risk then first considers bitcoin, later if you're getting along and have improved more in knowing about how to research other cryptocurrencies, you can give a try on Ethereum as well and any other cryptocurrency you think worth it and deserves your investment after a thorough research on them, don't also get too involved in many altcoins because of the scam projects and don't invest on tokens if you're intending to hold for long.

Exactly, the problem with a great deal of investors or traders is that they they want to run before they even learn how to walk, they want to invest in all kind of coins since the beginning of their journey and this is simply a mistake, in my opinion investors should restrain themselves to invest in bitcoin only for at least a cycle, then once they have proved to themselves that they have what is needed to make money by only investing in bitcoin and they know more about this market then they can take their chances with altcoins.

[passwordnow]

Criteria will depend on each of their own. While there are investors that are looking forward to new projects because they think that the opportunity is there. We as long-term investors have only one criterion and that's because Bitcoin is king.
Even if someone has limited resources, that shouldn't be a factor to stop investing or stop DCAIng Bitcoin because you know what's coming and you understand the factors that are setting Bitcoin to have its rough but worth it road for everyone.

[Yamifoud]

Well, some are saying that putting all eggs in one basket is not a good idea but I'd just think that investing in Bitcoin alone is not also a bad decision. Because we believe that Bitcoin is a good investment and the most promising project in the crypto space we have some confidence that it will grow and pay us back what we are invested (ROI). In fact, it was better to have a single investment  (Bitcoin) rather than shared it with altcoins as we know that altcoins are reliant on the Bitcoin's market trend.

[Johnyz]

You can actually buy new tokens with a huge potential in the market, you can start doing this with a small portion of your money.
Bitcoin is good for long term yes, but having said that you are only limited I think its better to deal with the altcoins and once you already made a huge profit, then have some Bitcoin as well. Be active in this market, there's a lot of way to earn free money, all you have to do is to do your own research and be consistent.

[someone703]

Bitcoin is generally considered a relatively safe investment in the cryptocurrency market due to its good track record, wide adoption, and limited supply. It has proven resilient over the years and has become a store of value for many investors. If your goal is to distribute coins regularly and hold them for a long time without active participation, then Bitcoin could be a suitable option. It has shown long-term growth potential, and its scarcity and position as the first and largest cryptocurrency contribute to its appeal. On the other hand, if you want to participate more actively in the cryptocurrency market and seek higher potential returns, then diversification becomes important. Please consider carefully because altcoins have a higher risk ratio than bitcoin anyway.

[MainIbem]

As a cryptocurrency Amateur I didn't expect you to keep listening to those whales who kept saying buy and hold and don't sell any, now you may consider yourself not being in same categories with them because their wealth can never be quantified as yours maybe, probably you are only looking for a way to survive with at least $1k while they already carved out about $500k or more to invest in bitcoin while you as $1k investor would keep listening to them as same time you lost your investment. So the best is, sell whenever you feels like selling and buy when you think the Market is dip enough for you to buy instead of follow the whale.