Get rid of your Altcoin bags

[wheelz1200]

I largely believe in bitcoin and think it's one of the only coins that NEEDS to exist but there is room for some other projects that are promising and can be used as a test bed for crypto.  In the long term I don't think anyone needs to hold altcoins but in the short term some of them can be very profitable just need to know how to spot good entry and exit points and stuck to a plan.

[Qiubell5]

There are still good alts in the market. The majority of them are wortheless, yeah. However, main alts like ETH and SOL are here to stay 

I think it depends on what altcoin you choose and that should be a consideration before entering it, because the value of altcoins can fluctuate greatly so be prepared for potential losses and also profits that will occur, make sure the platform you use is by the relevant authorities and need to be careful in placing it to protect your funds, with these factors to maximize investment with market capitalization and community strength it can be an important aspect that you need to check when deciding to invest in altcoins need to take into account the list of projects on the top exchanges.

[betswift]

I largely believe in bitcoin and think it's one of the only coins that NEEDS to exist but there is room for some other projects that are promising and can be used as a test bed for crypto.  In the long term I don't think anyone needs to hold altcoins but in the short term some of them can be very profitable just need to know how to spot good entry and exit points and stuck to a plan.

* ETH stands here, ominously watching from behind * I do believe, though, that it's viable to go long-term with ETH all the way.

[el kaka22]

Honestly I find this helpful and true. If you have some bags, combine to mean something, selling them all and putting that into something that could actually make money, would be a good idea, should be done.

I think it's clear that a lot of people are missing that, we are talking about people who are making mistakes, and we can't really do that, it is not the smart way and I would say that it would be a wrong move in the end, we can't provide with something like that. In the end, if we keep doing what we are doing, then we could definitely cheer on, it would be fine, but we are usually doing something that doesn't make sense at all.

What I think will happen in this case is that it is going to be a tough one, and I think that's the point we are having here, many people who hold something for years, usually have some emotional connection to it and that's why they are making a mistake by keep holding them. Best idea would be just getting rid of them, and getting something decent. No reason to keep a dozen or more dust from some crashed stuff, if they worth even ten bucks, just get that ten bucks then, how small or big doesn't matter, but if it is big then it is definitely right move to just get rid of them.

[betswift]

Honestly I find this helpful and true. If you have some bags, combine to mean something, selling them all and putting that into something that could actually make money, would be a good idea, should be done.

I think it's clear that a lot of people are missing that, we are talking about people who are making mistakes, and we can't really do that, it is not the smart way and I would say that it would be a wrong move in the end, we can't provide with something like that. In the end, if we keep doing what we are doing, then we could definitely cheer on, it would be fine, but we are usually doing something that doesn't make sense at all.

What I think will happen in this case is that it is going to be a tough one, and I think that's the point we are having here, many people who hold something for years, usually have some emotional connection to it and that's why they are making a mistake by keep holding them. Best idea would be just getting rid of them, and getting something decent. No reason to keep a dozen or more dust from some crashed stuff, if they worth even ten bucks, just get that ten bucks then, how small or big doesn't matter, but if it is big then it is definitely right move to just get rid of them.

If they've been there for years and only drop your portfolio down, sure, but if they are in your portfolio for only a week or even some months, it's totally okay to hold them in spot if the projects are decent and aren't part of some shady stuff (like I've recently seen with $DESO, founder of which was charged by SEC with fraud (info from CoinMarketCap) ). The price can go here and there, but you can always look after the projects' news and decide for yourself if it's worth it to hold to your bags for the time to come.

[fullhdpixel]

Well I do say most of my crypto is in Bitcoin and not alt coins. But I would never want to sell all of my alt coins and only hodl Bitcoin.

It is something that us investors must do if we want the most profits. We can not only invest in my coin so it is better to diversify our crypto portfolios with other alts we think will have big gains.

Made sense on why you put most of your saving in BTC because it is the only coin where we can trust always. There is no need to explain if what it can do because of that. Another thing on why you won't sell your alts is because like you said they are only a little. So, it may not make sense at all. You are only going to pay more fees than the money that you can get, just in case you do.

I have been holding some Tron coins when it was trading above 600 satoshi in 2019. Even I keep on staking, I still could not recover my initial investments. Like Elon Musk adapted dogecoin, if some magic on Tron happens, I may escape. This is the reason, altcoin investments are not profitable if you aim for multiplying your bitcoins as most altcoins are not growing in terms of BTC but only on USD rates.

[robelneo]

Many coins have been started when Cryptocurrencies were less developed and much less innovative.
And here it is a big problem for many Altcoins: using outdated Blockchain technology.

That is so true, and I would like to add besides the tokens and coins that, you mentioned Doge was on the verge of extinction until Musk pumped it and adopted it, and that started the meme era; the technology and the trend keep changing what works now and what's in now may not work or adopted in the coming months, so be sure to check every coins or tokens that are in your portfolio and be sure to quick to dump or sell when there is a rug pull or the project has been abandon.
If you won't follow the development of the coin or token, do not invest; it will save you money and effort.

[betswift]

Many coins have been started when Cryptocurrencies were less developed and much less innovative.
And here it is a big problem for many Altcoins: using outdated Blockchain technology.

That is so true, and I would like to add besides the tokens and coins that, you mentioned Doge was on the verge of extinction until Musk pumped it and adopted it, and that started the meme era; the technology and the trend keep changing what works now and what's in now may not work or adopted in the coming months, so be sure to check every coins or tokens that are in your portfolio and be sure to quick to dump or sell when there is a rug pull or the project has been abandon.
If you won't follow the development of the coin or token, do not invest; it will save you money and effort.

A person should always consider the odds behind his actions. That way, he won't be sad if things go south, as this was his decision (to invest in some coin, for this example).

[GbitG]

~~
investors should not need to invest in altcoins whose credibility is unclear, such as meme coins or similar altcoins, and focus more on popular altcoins whose credibility is clear. if you are confused, cmc can be a reference for investors to see what popular altcoins they have the potential to buy.

Hmm, that is absolutely right!
Investors need to do research before investing in a lay Altcoins because I have seen many Altcoins that promise new events and additions to attract people through promotion, but when investors participate in the project, these people rob people by rugpulling. So something like this should be avoided completely, Don't invest in any coin whose credibility is not clear because if you invest in it, are you sure that you can lose the possibilities? My own opinion is that one should prefer Bitcoin first and then Etherum, SOL BNB, etc for investment. And if possible, invest in altcoin as much as possible, but that too in the top altcoin because there is less risk in these altcoins as compared to lay alt or meme coin. 
 
So it's meant to say that you should never try to put your investment in something that will cause you loss instead of benefit.

[shinratensei_]

* ETH stands here, ominously watching from behind * I do believe, though, that it's viable to go long-term with ETH all the way.

as much as I like ETH for long term investment.

I have opinion that ETH can probably be replaced by its competitor in the future, ETH is unlike BTC where it got supported by maximalist and institutional investors because it's the first ever crypto hailed as the gold of cryptocurrency, ETH has other tough competition like solana, ton and so on with same capability if not better and as good community. these other project are also trying to create their own machine such as solana with their glorified SVM and TON's TVM which got the upper hand of deploying later to sort out all problem that EVM is having prominently in scalability aspect and giving much faster speed.

in that regard I think ETH is not so safe from being replaced.

[DeathAngel]

I see Altcoins as a way to get more Bitcoin, that it literally my only use case for them. I am not incouding Ethereum in that because I do believe in Ethereum but all other Altcoins I buy & hold short to medium terk, in the hope of selling to convert into Bitcoin. I have had some success with this but nothing is guaranteed.

[Lida93]

Trusting on altcoins for a long term makes no sense to me at all, and I get it funny how people feel comfortable hodling alts bag with so much trust on them. Altcoins existence is base on current hype, and once the hype is fading so the altcoin value gradually fades till it dump.

No other time to hold alt than during an anticipated bullrun season and after the circle you either dump those bags as quick as possible or you be the one to get dumped because as new tokens continue to develop rapidly that's how the network of altcoins investors moves from the old to the new and it keeps going on, a reason why you could hardly see a new token surviving for long except it has a very strong developers and sponsorship behind.

[deadsea33]

I largely believe in bitcoin and think it's one of the only coins that NEEDS to exist but there is room for some other projects that are promising and can be used as a test bed for crypto.  In the long term I don't think anyone needs to hold altcoins but in the short term some of them can be very profitable just need to know how to spot good entry and exit points and stuck to a plan.

* ETH stands here, ominously watching from behind * I do believe, though, that it's viable to go long-term with ETH all the way.

As much as can be understood from your comments. Here are some of the things that have been said about altcoins. So whatever coin you invest in, you need to monitor it carefully. For example currently ethereum is around $2600 which is quite viable for long girls. But for the short term, all other altcoins will be very ricks.

[tygeade]

Trusting on altcoins for a long term makes no sense to me at all, and I get it funny how people feel comfortable hodling alts bag with so much trust on them. Altcoins existence is base on current hype, and once the hype is fading so the altcoin value gradually fades till it dump.

No other time to hold alt than during an anticipated bullrun season and after the circle you either dump those bags as quick as possible or you be the one to get dumped because as new tokens continue to develop rapidly that's how the network of altcoins investors moves from the old to the new and it keeps going on, a reason why you could hardly see a new token surviving for long except it has a very strong developers and sponsorship behind.

Yeah true, I mean I get something like ETH, but there are people who have no idea how things work and they end up trying to do something different and that is why it is going to be some problem for some people, we should not consider that as an issue at all.

We need to consider that life isn't always that simple and we are talking about something that is taking some time, it is not going to be that great and we can find this to be an issue if we keep holding it for a long time. Just keep on selling when you get some alts, definitely the ones which are very low on the rankings, there is absolutely no reason to keep them and I think it is going to be not an easy thing to do, we are going to end up with something that may take a while.

[alexforneus]

Still think that we need some devirsification in crypto. Bitcoin is the main part of my portfolio but i can't just sell all my alts

[Promocodeudo]

There are still good alts in the market. The majority of them are wortheless, yeah. However, main alts like ETH and SOL are here to stay 

You know it's important to filter out the altcoin you don't need to the better ones moreover newly listed coin in the space some of them can't be trusted neither are they reliable to hold for long instead I will always encourage people to have bitcoin in your portfolios. Apart from Ethereum and BNB, Polygon and few other coin I didn't think people should hold irrelevant coins in their bags since they aren't worth holdings  and they are also being driven by Bitcoin price and whenever the price goes down it affects all every coin that depends on bitcoin for growth.

Yea, this is expected of course it is not advisable to keep what you don't need, delist some that are not yielding anything to give way for the good ones, my problem is how to identify a good project, athough there are still new good projects but many scam projects had made it almost impossible for us to identify the good ones.
Bitcoin is the most trusted coin as such it is required of everyone in the crypto space to have a bulky portfolio in Bitcoin before diversifying to altcoins, there is no doubt that the altcoins you mentioned remains the best in terms of diversification but one can not totally rely on them for some reasons which is value and trust in some case, Bitcoin remains the best in terms of value and many not manetioned qualities but I also support diversification, although I was not in support of this earlier but now i feel that once investors invest on the altcoins that follows the direction of Bitcoin there may not be a problem for the investors that have those altcoins in their portfolio.

[Adbitco]

There are still good alts in the market. The majority of them are wortheless, yeah. However, main alts like ETH and SOL are here to stay 

You know it's important to filter out the altcoin you don't need to the better ones moreover newly listed coin in the space some of them can't be trusted neither are they reliable to hold for long instead I will always encourage people to have bitcoin in your portfolios. Apart from Ethereum and BNB, Polygon and few other coin I didn't think people should hold irrelevant coins in their bags since they aren't worth holdings  and they are also being driven by Bitcoin price and whenever the price goes down it affects all every coin that depends on bitcoin for growth.

Yea, this is expected of course it is not advisable to keep what you don't need, delist some that are not yielding anything to give way for the good ones, my problem is how to identify a good project, athough there are still new good projects but many scam projects had made it almost impossible for us to identify the good ones.
Bitcoin is the most trusted coin as such it is required of everyone in the crypto space to have a bulky portfolio in Bitcoin before diversifying to altcoins, there is no doubt that the altcoins you mentioned remains the best in terms of diversification but one can not totally rely on them for some reasons which is value and trust in some case, Bitcoin remains the best in terms of value and many not manetioned qualities but I also support diversification, although I was not in support of this earlier but now i feel that once investors invest on the altcoins that follows the direction of Bitcoin there may not be a problem for the investors that have those altcoins in their portfolio.

The only way to know good project is to just go for the trusted coin in the market and or maybe you go for top 10 to 20 altcoin in the market, with this you can hold them for long without having the fear the your portfolios would crash or sink down. Most importantly your bitcoin holding should exceed any other holding in your portfolio because if you have altcoin more than bitcoin it easily affects your investment when the market seems to be a bit bad or when there seems to be bad news in the market.

[mindrust]

I only like ltc, xmr, doge and eth. The others are no good. Ltc is failing price-wise but the network activity on ltc says ltc is here to stay. Xmr is the king of privacy. Doge is the king of memes and eth is the original shitcoin factory.

Combine these with btc and you’ll have a solid crypto portfolio.

[Casdinyard]

You know this would've been way easier if we're talking about bitcoin or ethereum, cause if that's the case we could easily just back shit up with the fact that these coins have the purpose to boot to propel and bolster itself up during bull or bear seasons, but it's way different when we're talking about Altcoins, especially the type to not have enough features to be likable, like memecoins for example, but have the community and the supporters behind them that makes it enough for these coins to have sizable marketcaps.

Do we get rid of them as well? I don't think so. Let's be real here, we're not just here to love and support every futuristic projects like it's the second coming of Christ of whatever. We're here to make money and honestly speaking, if investing on a memecoin's gonna make me a millionaire, then by all means, even if it has hot garbage feature.

[JamesDaniel90]

I only like ltc, xmr, doge and eth. The others are no good. Ltc is failing price-wise but the network activity on ltc says ltc is here to stay. Xmr is the king of privacy. Doge is the king of memes and eth is the original shitcoin factory.

Combine these with btc and you’ll have a solid crypto portfolio.

Bit of a bold statement to say others are no good.

Arcblock has given me 30x in the last 12 months, Jasmy 10x, Kaspa, 10x .

The key with altcoins is to be diverse , you could hold 10 and 8 of them might fail but 2 of them will do more than enough to bag you great profits overall.