I sold the altcoins and invested in Bitcoin"

[CryptSafe]

You took a bold and daring step to investing your funds in bitcoin. Selling your altcoin is not a bad idea if you deem it fit to do so but would it not have been better you had kept like 10 to 15 percent of your altcoin as you never can tell which of them could pump soonest as shitcoin are fond of that.

However, you are still on the right track as bitcoin is currently still low. At this point, if there is any upward movement in bitcoin price definitely, you are making some good profits and moreover, halving is around the corner so therefore you have nothing to loss. As risky as the it is, no body can tell the next swing bitcoin can make.

Talking about saving your bitcoin, trust wallet is not bad but you would need a more technologically sophisticated wallet just as Charles_Tim have said. Make sure to research and study the wallet properly before attempting to use it so you do not make any mistake.

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[Rupok]

It is not advisable to keep all your money in a trust wallet for long term, it is better to use a good hardware wallet  There is no need to invest all your money in bitcoins you can invest in altcoins as well if you want. Although bitcoin investment is risk free but also good profits can be made from altcoins if you choose the right altcoins.I think your friend gave the right advice about the downside of Bitcoin and the volatility of the market. As long as you invest in Bitcoin, you should invest for the long term, because long term investment can yield good returns from Bitcoin.

[2girls]

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?

I think you should not have sold your altcoins.There is no doubt that Bitcoin investment is considered safe. Everyone wants to have Bitcoin in their wallet, but altcoins have their own importance and you can't ignore altcoins at all. There are very good and strong projects in altcoins that have the potential to give huge returns in the coming bull run. So I think you should definitely invest in Bitcoin but also add altcoin to your wallet.

Trust wallet is a good wallet for crypto currency but I think if you store Bitcoin in hard wallet then it will be a good decision for you, because hard wallet is considered the most secure. There are different types of hard wallet in the market which you can order online from the official website.

[Lorence.xD]

Well Bitcoin is a good coin that are the root of other existing alternative currencies. We all have different ideas and opinions when it comes to crypto, since we all have their own techniques and suitability for us. From your post OP, it seems like you invested in Bitcoin due to information given to you it's like you already trusted someone and stake your money at a risky decision. You should do your own research first and understand the background of Bitcoin for you to decide to put all your funds in one coin, which is actually good for me since it's Bitcoin. But for some people, it would be a huge risk to put all eggs in one basket that's why iit's also better to have alternative investment incase you fail to other. I've invested to ETH before but due too unstable it just turned to a quick flip.

[KiaKia]

It is not advisable to keep all your money in a trust wallet for long term, it is better to use a good hardware wallet  There is no need to invest all your money in bitcoins you can invest in altcoins as well if you want. Although bitcoin investment is risk free but also good profits can be made from altcoins if you choose the right altcoins.I think your friend gave the right advice about the downside of Bitcoin and the volatility of the market. As long as you invest in Bitcoin, you should invest for the long term, because long term investment can yield good returns from Bitcoin.

Bitcoin investment is not risk free and it gives less profit compare to altcoins, life changing profits mostly come from altcoins and with little amount of money invested unlike Bitcoin that now requires a lot of money to make insane amount of money because the value of Bitcoin is already high, and that makes it not suitable for those that have 100$ to 500$ for investment, having to hold that thinly amount of Bitcoin for years and end up with 4x of your 500$ is not very good enough.

[kryptqnick]

Nobody can be sure how the future will play out with such a decision, and I think it depends a lot on the kind of altcoins you had before, but I believe that many would agree that putting the money into Bitcoin is a safer bet. Perhaps one of those altcoins will outperform Bitcoin at some point (in terms of 2x, 3x and similar measurements in comparison with the price at which they were bought), but it's also likely that some will stagnate. Of course, there's no guarantee that Bitcoin will fully recover and outperform its previous highest point, but it did that after every bear market in the past, so I think there's a very good chance it will continue to happen over and over again.

[Cookdata]

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?

I must say that you have made a wise and bold decision to convert altcoins to Bitcoin, most often than not, they usually crash and the loses are terrible to bear because an investment that is capable of doing -99% will hardly recover from the lost but when you look at Bitcoin, it has recover half of what has been lost from all time high and it has grow more than 55% this year, isn't that interesting to consider.

Trust wallet is a closed source wallet and with that uncertainty, you don't know what is happening behind the coding technique, switch to a wallet that is open source and you can confidently trust, and if you have the means to buy hardware wallet, it will help you put your mind at rest security wise and privacy wise.

[Emmanuelex]

Not bad, I always advice newbies to start with Bitcoin and only go for altcoins when they have full knowledge and understanding of cryptocurrency.
Altcoins are not a bad choice though, you just have to make sure you're investing in the right ones, like Ethereum and the rest of them that are very reliable, but I would still put Bitcoin above them. I only consider altcoins when there's need for diversification.
Good luck 👍

[mvdheuvel1983]

Investing in bitcoin is both a smart choice and a good investment. Bitcoin is good we all love it. Despite this you should also keep in mind that there are other altcoins that are performing almost as good as bitcoin is. Your investment portfolio should have at least 80 or 90 percent bitcoin and the remainder in some good performing altcoin.


By the time you read this, you must have seen some user comments suggesting that offline wallets like Electrum are safer for storing bitcoins than internet wallets. I highly recommend that you abide by it to the letter.

[The Cryptovator]

The way you handle and allocate your portfolio depends on your personal preferences. It also depends on the total value of your current portfolio, as that will determine how you divide your funds. While investing in Bitcoin is generally considered a good idea, it doesn't mean that all other altcoins are worthless. There are several promising altcoins where you could consider allocating a portion of your funds. However, it is generally recommended to maintain a significant portion of your investment in Bitcoin.

[Wapfika]

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?

There’s no real exploit issue on trustwallet so far but that wallet is not an open source as it advertised. I’d rather trust other wallet like Electrum that exist for a long time than Trustwallet that is just become popular due to it’s involvement with Binance. Atomic wallet is the perfect example to not trust a not fully open source wallet like trustwallet. They can be exploit or inside hack since they are just making the code by themselves without checking by the community that make open source wallet stronger.

Use electrum wallet if you really want to invest on Bitcoin alone. Electrum is the best software wallet so far since it’s an open source and running for a long time without any serious issue encountered.

[BITCOIN4X]

(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.

Asset diversification is possible, but it just depends on the OP's own plans. I'm happy with diversifying because of the profit potential I make, but of course for some of the potential altcoins you may have mentioned among others.

So far I have diversified to 60% - 70% bitcoin, while 30% of them are altcoins.
But of course this is not financial advice for other users because obviously this is just my decision and investment plan. It's fine to sell all altcoins for bitcoins, even if they do the opposite. Each will get a risk and they must be able to consider their own risks regarding the selection of investment assets.

[famososMuertos]

One of the things that bitcoin has is that when you invest in it there is no regret, there is no doubt, it is that simple, there is no going back, now the important thing is to know what comes next, at some point you must sell, some wait for years others they simply do any of the existing techniques.

It is not necessary to show amounts of money invested, by the way, this goes hand in hand with the weakness of not knowing what type of wallet to hold that investment in, which apparently in your case you are going to hodl, so part of the strategy was (it is) properly safeguard your assets.

So, what comments to have on the assets you sold, etc., it's past, focus on getting the right wallet and having an action plan with your bitcoin at the appropriate time, yeah! the sale must be planned in the same way, hence, you should focus now on your bitcoin investment and not think if your portfolio change was correct.

[acroman08]

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

bitcoin has almost always been on an upward trend(if you check the price from the very beginning), so if you are planning on holding for a long period of time, bitcoin is a good choice to invest.

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

while trust wallet is popular, it is not as secure as you might think. I'd suggest moving your coins to an open-source wallet like Electrum (looking at the thread other members have suggested Electrum too) or better yet, use hard wallet to store your coins.

Trust Wallet is safer than any Centralized or Custodial Wallet. But as it's an open 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 closed 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.

I think you've mixed up what open-source and closed-source wallets are.

[AnonBitCoiner]

It's true that bitcoin is really good investment but I think diversification will be better because sometimes you have need of money and you cannot sell your bitcoin so therefore you can sell your other coin which will reduces your loss.

Selling bitcoin on wrong time is not a good idea and therefore if you don't want to sell bitcoin then you can wait more because you have choices of getting profit from other assets. Altcoins are more risky than bitcoin and one benefit will be for you to convert your altcoins into bitcoin that your risk will be reduces as bitcoin will give you more profit but patience and knowledge matters a lot.

[bitLeap]

I will probably talk about the wallet that you use to hold the bitcoins. Actually many here have said it's better to hold it in a hardware wallet and that's what I think and would recommend, rather than holding it in a trust wallet, because you're going to be holding it for the long term.
I would recommend that you hold it in Electrum rather than Trustwallet, just like I did. I'm not going to say trust wallets aren't safe at all, but in this case we will definitely have recommendations, and indeed many recommend using electrum for long-term holding (if you don't want to use a hardware wallet).

A good option when you maximize the money you have into bitcoin, but of course it will make the potential for profit from altcoins non-existent. But it comes back to our choice, whether we want to allocate our funds to bitcoin as a whole, or we will split a percentage to hold potential altcoins of course.

[rikybrosh]

I have been invest in bitcoin since long time ago and I realize that we can't expect any cryptocurrency price without volatility. it is okay for you if you want to sell all your altcoin to buy bitcoin. if you want to do something more then you only have to care about time. bitcoin price rise in certain time then fall again, altcoin also similar with it but the market is easily manipulated. there is pump and dump patern in altcoin price whether it is manipulated by the company it self or by other party. i hope you already know about halving and what is the effect for bitcoin.

[ZAINmalik75]

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?

Yes you have made a good choice to invest in BTC instead of Alts because currently the price of BTC is very low and once the halving started you will see the bull run and i hope BTC will make another all time high.

Which means you will make some good profit but i want to suggest you that. You must not fall for small profits and become greedy for them while you can earn more in the bull run. You have to make your target and with patience become determined about on target.

Trust wallet is not the best choice to store assets for long term neither any centralized exchange. You could use any open source hardware wallet like Electrum etc. Or your could also prefer hardware wallets but as per your investment of 800$ i can say Electrum is better option instead of Hardware wallets.

[cheezcarls]

Although we are not financial or investment advisors here, investing on Bitcoin for long-term purposes is highly a good choice. No disrespect on altcoins that are designed for short and mid term, but I say that BTC along with ETH are the best ones for the long term.

To me, they are worth in doing the DCA (dollar-cost averaging) whether if it's weekly, bi-weekly, monthly or so depending on how much extra budget you can afford to lose.

Do not go all-in though. Learn how to diversify both the short, mid and long term coins and tokens in your portfolio.

[Hyphen(-)]

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

i've been using trust wallet for years now , and it's been safe for me over the years . although , i heard on some security breaches where the company loses almost $4million   but i think they reimburse users
and also, trust Wallet mobile apps and extension are security audited and pen-tested by the internal security of the trust wallet as well as external 3rd party security auditors too besides, its a non custodial wallet so its managed by you , just ensure that you are vigilant by not downloading malwares

TrustWallet is secure, although it is not as secure as other open-source wallets. Trust wallet is a closed-source wallet. Because your private key cannot be publicly validated; only the developers know how it was generated, your security is not guaranteed, and the wallet can be readily hacked.

As a beginner, I always recommend the Electrum wallet for its ease of use, as well as the Blue wallet for iOS.