I sold the altcoins and invested in Bitcoin"

[Out of mind]

I have been involved with Cryptocurrencies for the past almost 1 year. It's only been a few months since I joined the BitcoinTalk forum. I spend most of my time trading which I haven't spent much time on this forum. But I came to the Bitcointalk forum and observed various discussions about Bitcoin investment. Finally after much thought I analyzed Bitcoin and took the advice of a fellow knowledgeable investor. He gave me specific advice on the downsides of Bitcoin and market volatility.
After full consideration I sold all the wallets I had Altcoins invested in. and with the amount of funds I made from that, I bought bitcoins and kept them in the trust wallet.

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

[Charles-Tim]

You are investing. Using a wallet on an airgapped device or a better hardware wallet which is open source like Passport or Trezor would be better. Your keys are saver offline, than to be online.

Electrum can be on an airgapped device, with or without the watch-only wallet: https://electrum.readthedocs.io/en/latest/coldstorage.html

For  online wallets, Electrum and Bluewallet are better.

[fruktik]

I have been involved with Cryptocurrencies for the past almost 1 year. It's only been a few months since I joined the BitcoinTalk forum. I spend most of my time trading which I haven't spent much time on this forum. But I came to the Bitcointalk forum and observed various discussions about Bitcoin investment. Finally after much thought I analyzed Bitcoin and took the advice of a fellow knowledgeable investor. He gave me specific advice on the downsides of Bitcoin and market volatility.
After full consideration I sold all the wallets I had Altcoins invested in. and with the amount of funds I made from that, I bought bitcoins and kept them in the trust wallet.

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

         Maybe in vain that almost all altcoins were sold? After all, now is a period when they are following Bitcoin. Have you made a mistake? Think about this moment. I recommend watching the investment portfolios of other forum participants so that you have a certain picture of investing in crypto assets.
        You can later regret for a long time that you did this. Don't radicalize your processes like that. Even shields shoot in such a market. At the moment, Bitcoin is preparing for a strong rise.

[BD Crypto]

After full consideration I sold all the wallets I had Altcoins invested in. and with the amount of funds I made from that, I bought bitcoins and kept them in the trust wallet.

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Obviously it's a great decision because holding Bitcoin is far better than holding Altcoins. But if you are a day trader or short term trader and have much trading knowledge then I will suggest you to trade with 50% of your portfolio and rest of them hold for long term. If you can hold it for long term then Bitcoin investment is a best decision for your future.
Most of the time altcoins depend on Bitcoin movement and we all know about LUNA token how it crashed. So why we will not choose the most popular, decentralized and potential cryptocurrency which is Bitcoin.

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

Trust Wallet is safer than any Centralized or Custodial Wallet. But as it's an close source wallet so it may not be fully secured as we don't know how the seeds are generated. That's why you should choose non custodial open source wallets like Electrum, Mycelium, Bitpay, Blue Wallet and  Alpha Wallet. My suggestion is to use Electrum wallet which have exciting features too. Visit their official website to download wallet or to learn more https://electrum.org/ Its available for Android, Windows, Mac OS , Linux and Python.
Hope you got your answer.

[Woodie]

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

If it makes economic sense then by all means sell those altcoins, but when it comes to risk management and investments...you are advised to diversify your portfolio to avoid losing everything if you put everything in one basket..besides some altcoins perform better than bitcoin and you wouldn't want to miss it on these pumps

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

I have used trust wallet in the past because of its multicoin features, but unfortunately I have also read several security breaches involving this wallet and users losing their coins in the process...
And since this is a long term undertaking with your crypto investments, maybe a change of wallet say hardware wallet would be good step to process your crypto assets  but since altcoins are involved I understand why you use it, goodluck.

[nullama]

The best way to store Bitcoin is in an offline wallet, with absolutely no access to the internet.

You can read more about this, and how to setup everything here:

https://armantheparman.com/zerotrust

[leonair]

~snip~

Bitcoin is a potential currency that will give you more security than any other coin.  And you will be at less risk here than in altcoins. you must have seen many valuable altcoin crashes or scams like FTX, LUNA etc.  But this is not the case with Bitcoin.  So in this case you can be sure that investing Bitcoin is safer than Altcoins. So I appreciate your decision.  But since you have invested $800 in Bitcoin it is not a small amount so in this case you should choose a good wallet where your Bitcoins will be safe like Electrum, Trezor, Coinbase Wallet etc. these wallets will give you more security than TWT.

[mindrust]

Bitcoin is the safest crypto out there. One can simply not go wrong with bitcoin. Everything else is a casino token in a world where btc exists. You might make x100 or more with alts but you may also lose your initial investment completely. That's why they are called casino tokens. BTC on the other hand has been making money for everyone since its inception. That's why it is the safest coin out there. More or less, btc will keep making money in the future but we don't know what is going to happen with the alts. It is a matter of choice in the end. More risk = more reward/losses. Less risk = less reward/losses. BTC = Safety

[Jawhead999]

You're already make a wrong decision, you're actually still not understand which coin you want to invest, but you're relying on the other people's opinion. I'm not really sure what's your intention, but if you're want to impress people by investing in Bitcoin, that's not good.

Trust wallet isn't a good wallet for long term holding, you should research, ask and verify before you're want to use someone else service, not try and then ask the review.

[crypticj]

Good for you!
But I never understood "bitcoin only people". We are still buying Bitcoin to make money, not for the idea, so I think in these terms you can also make money with alts is sometimes even more.

I think it's important to do research before buying any alt to secure your money from the LUNA situation. But in general, I think it's nothing wrong with buying/holding alts with Bitcoin.

[Ahli38]

If you intend to keep it for the long term (long term investment) and you don't have a hard wallet yet. then I prefer you to use Bluewallet or Electrum. Trustwallet is pretty good too. but I've read some things that make me doubt about Trustwallet if it's for long term storage. I only use Trustwallet for activities that involve a lot of transfer activity every day. sometimes I also use safepal.

And I think your choice is quite right by choosing to invest in Bitcoin by selling the Altcoins that you have. But remember this is not a quick trip. but it is a journey that requires patience. because investing in Bitcoin is not going to go up as fast as it does in altcoins. but of course also with the risk of decreasing which is also not too sharp. In contrast to Altcoins where almost every day there are always altcoin projects that end up being scams and become worthless in a short time. so if it's for the long term then Bitcoin is indeed the most appropriate from my point of view. but I don't know your point of view and others. everyone has their own thoughts and plans. so DYOR.

[Outhue]

Advice #1 : Diversify

Bitcoin is a must have for all crypto investors for many reasons but I can't lie to you mate, altcoins have given me more profits in this bear market than Bitcoin, I made 10x in this bear market from a AI project and I took my profit, leaving behind few thousands tokens for long term hold and I use the profit to buy more Bitcoin.

It's not wrong to have some altcoins in your wallet, that's the best strategy, always have few altcoins and let your main focus be on Bitcoin itself, I have 9 altcoins in my wallet and Bitcoin is my biggest holding, and if any pump happens among these altcoins I will take profit and use it to buy more Bitcoin.

Don't put all your eggs in one basket.


Advice #2 : Wallet

I don't like that you are using a half-open-source and half-closed-source wallet for storing your Bitcoin, I don't even know which is which with Trust wallet, some are saying it's fully closed source and some said partially but it means it's not completely open source and that's why I will like you to think twice and use a non- custodial open source wallet.

Use Electrum for storing your Bitcoin and use Unstoppable Wallet for your other altcoins like Ethereum Erc20 or BRC-20 token.

[Fiatless]

Advice #1 : Diversify

Bitcoin is a must have for all crypto investors for many reasons but I can't lie to you mate, altcoins have given me more profits in this bear market than Bitcoin, I made 10x in this bear market from a AI project and I took my profit, leaving behind few thousands tokens for long term hold and I use the profit to buy more Bitcoin.

It's not wrong to have some altcoins in your wallet, that's the best strategy, always have few altcoins and let your main focus be on Bitcoin itself, I have 9 altcoins in my wallet and Bitcoin is my biggest holding, and if any pump happens among these altcoins I will take profit and use it to buy more Bitcoin.

Don't put all your eggs in one basket.

Trading altcoins requires specialized skills. Lacking these basic skills might lead to huge losses. Secondly, these altcoins might give high profit but the risk is also high. Many people have profited from the pump and others have lost so much money from the dumps and rug pullings. Everything depends on the willingness to take risks. Bitcoin is a reliable basket for all my crypto funds. One can hardly be wrong with bitcoin because it has never failed like others. In terms of diversification, I will prefer to diversify my income to other sectors apart from the crypto industry. There are other sectors that a viable which can give profit. But when it comes to cryptocurrency investment, my only option from now is bitcoin, until I have developed the guts to bear the risk of altcoins.

[SOKO-DEKE]

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

That is what I can't say, but the truth is that, based on the little experience I got from cryptocurrency market, altcoins are not trustworthy. For example, FTX and Luna had strong market caps prior to their crashes, indicating that many people had faith in the projects. Bitcoin is the ideal coin to retain, especially for a long time, in order to reduce our investment risks, I will suggest.

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?

Trust wallets are fine for storing Bitcoin, but for robust security measures for your assets, I'll advise choosing cold wallets, which are offline wallets because they're hard to hack. However, I will caution you to conduct your own research before selecting any wallet recommended here.

[BALIK]

Bitcoin is the safest coin in the crypto market, while altcoins are quite risky but have a chance of giving investors better returns. Investing in bitcoin is always recommended as it is safe and secure, but with altcoins, those who can take risks and are confident in their skills can give it a try. Investing in bitcoin or altcoins is a personal decision.

Wallet for storage: it is best to stay away from that trust wallet and use Electrum for bitcoin and metamask for altcoins. Or use the open source hardware wallet that is considered the most secure today.

[Bitcoin_people]

~~snip~~
Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Bitcoin is an investmentable digital currency whose future can be depended on. Although altcoin pumps more during military periods and offers good profits, there are risks involved. I previously got good profit investing in altcoin but lost money investing in FTX and Luna. So i think altcoin is not worth investing for long time it can be scam any time. But investing in Bitcoin can be profitable if you hold it for a long time without the risk of losing money. And the work you have done is really great because bitcoin has a future.

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?[/size]

Since you use a trust wallet to keep your bitcoins safe, I don't think it's very strong. So if you want to keep your bitcoins safe, you must use software or hardware that will not have any risk. If you want you can use many software wallet like Electrum, Mycelium etc. These will be powerful to keep your Bitcoin safe.

[SmartGold01]

Now my question is, is it good for my future that I have sold my altcoins and invested in bitcoins?

Selling your altcoin to invest in bitcoin is never a bad choice and I wouldn't mind to say that you entered the market at a very high point when the market was around $25k to $27k why did you invest or convert them at that point because I know the market may likely change direction as it is very hard to predicts its movement. If you decided to invest in bitcoin then it should be that having a long term goal will be more aprreciated because short term can never give you the results you required, so I suggest 1 year to 5 years investment plan would really help to maximized your profitability in bitcoin.

The trust wallet I put my invested bitcoins in, is the trust wallet safe for my bitcoins?[/size]

During my time I also used trust wallet but as time goes I have to change to Electrum wallet since most majority of people suggested is more cool than trustwallet. Maybe try acquaint yourself with that wallet before finally moving your funds inside it.

[Helena Yu]

Advice #1 : Diversify

It's not wrong to have some altcoins in your wallet, that's the best strategy, always have few altcoins and let your main focus be on Bitcoin itself, I have 9 altcoins in my wallet and Bitcoin is my biggest holding, and if any pump happens among these altcoins I will take profit and use it to buy more Bitcoin.

Diversify is a good strategy, but diversifying your investment portfolio into with a same sector is bad idea.

Bitcoin price is independent while most of altcoins are follow Bitcoin price. This mean when Bitcoin price is decline, the altcoins price will decline too and vice versa. The main purpose of diversify is to prevent all of your investment are in loss, so diversifying to altcoins isn't fit the purpose.

You're buy altcoins just to make short term profit, not diversify.

[RewFrew]

Invest on Bitcoin is correct diction. But i think if you invest in different coin risk will be reduce. I think if Bitcoin's price were down all alt will not down. It has possibility to up Some or some alt coin. So my advice invest on different coin. I am not telling investment on bitcoin is bad. Bitcoin is best coin. I think your friend tell you correct information. Now time for cryptocurrency. Investment on cryptocurrency is most profitable for investors. If anyone invest on bitcoin or others cryptocurrency he will be must benefited now or in future. So i think your decision is correct. Best wishes professor for you.

[BenCodie]

(Not financial advice)

50℅ BTC
30℅ ETH
20℅ Solid top 100 altcoins/tokens (10 of them)

I think that this is the best setup.

Why shy away from promising projects just after their downfalls from all time highs? There's no reason if you're ultimately HODL'ing. It's completely fine to have some exposure in case you get a exponential return.