As a trader, is it worth consistently trading only BTC?

[Bitcoinpoly]

As a trader i strongly believe Bitcoin offers stability and dominance which is one of the core reasons why most traders stick to trading bitcoin on the other hand altcoins brings high-risk, high-reward opportunities. The volatility in altcoins presents both risks and opportunities. As a trader, navigating uncertainty strategically can lead to high-reward trades, though for me, I mostly choose to trade BTC while leveraging a good derivatives platform. What about you and which exchange did you use in trading, kindly share with us.

[examplens]

I mostly choose to trade BTC while leveraging a good derivatives platform. What about you and which exchange did you use in trading, kindly share with us.

Certainly trading with BTC is the safest option. Trading with alts, especially some bump/dump shitcoins, very easily fills the bag with worthless numbers of some promising projects.

[FortuneFollower]

I mostly choose to trade BTC while leveraging a good derivatives platform. What about you and which exchange did you use in trading, kindly share with us.

Certainly trading with BTC is the safest option. Trading with alts, especially some bump/dump shitcoins, very easily fills the bag with worthless numbers of some promising projects.

Don't trade with BTC.
Just buy it and hodl it.
Invest, - be smart.

[Oshosondy]

Bitcoin trading is good but you may have to wait a little while before making profit. I make money in altcoins trading than bitcoin because of the volatility. I prefer to hold bitcoin or do swing trading with it as it gives me rest of mind than altcoins that I prefer to scalp or day trade with.

Know that trading is very risky. Use the money that you can afford to lose to trade.

[kotajikikox]

Bitcoin is the safest, in my opinion however traders’ best friend is basically volatility. Bitcoin is volatile but is it still the most volatile among many cryptocurrencies? No. Altcoins out there are far more volatile and traders can make the most out of this volatility granted of course that they are well knowledgeable and experienced because it is incredibly risky.

[Alone055]

Bitcoin is used for trades, but for quick and short-term trades, I believe altcoins are a better choice because they provide better potential for profits, and short-term traders only look for quick profits. If someone is experienced and know how to use leverage to their advantage, and can also read the market to some extent, they can trade altcoins which aren't shitcoins or pump-and-dump tokens but actual, real, and use-worthy altcoins and manage to get good profits in no time.

Some influencers even make trades on-stream. We have some in our country who come online, start live streaming, and then make futures trades live only to show people that it's possible to earn money this way, however, even though they warn others about the risks involved, some people don't get it, and which is why there are often people found cursing such influencers because they followed them and lost money.

A person needs to understand that another person won't feed you with their hands. They can only show you the direction, and the rest is your job to do. Only because someone is saying a certain thing is good and should be done, you shouldn't do it without doing your own research about it. That's bad practice.

[freedomgo]

Look at the companies that consistently buy Bitcoin, led by Michael Saylor of MicroStrategy, along with many others -- even entire countries like El Salvador. It makes you wonder, in such a huge crypto market, why are they focusing on Bitcoin alone?

We all know investing in Bitcoin carries risk, but compared to any altcoin, it's the least risky option. Sure, it might not offer the biggest profits at this stage due to its high price, but in the long run, it’s almost a guaranteed win. So now, you just have to ask yourself, are you willing to take on higher risk for potentially bigger rewards, or do you play it safe with Bitcoin, which has proven itself over time?

[KyoFi]

As a trader, no, because you will find profits & losses there. Meanwhile, if you invest in Bitcoin, you will only find profit at the end. Personally, for trading purposes, I only look at altcoins. Because changes there can happen so quickly than in Bitcoin.

[Aanuoluwatofunmi]

As a trader i strongly believe Bitcoin offers stability and dominance which is one of the core reasons why most traders stick to trading bitcoin on the other hand altcoins brings high-risk, high-reward opportunities. The volatility in altcoins presents both risks and opportunities. As a trader, navigating uncertainty strategically can lead to high-reward trades, though for me, I mostly choose to trade BTC while leveraging a good derivatives platform. What about you and which exchange did you use in trading, kindly share with us.

Let me start from where you ended, using an exchange is common for trading, but also know the risk for using a centralized exchange, but if I may recommend you with one, choose Binance or Bybit for your trading, but know that not your keys not your coins, now back to the first aspect, isn't it better to trade and be successful, have a minimal profit, and be less open to high risk by trading Bitcoin than going for altcoins we can't even defend anything about them and we loose at the end.

[avp2306]

As a trader i strongly believe Bitcoin offers stability and dominance which is one of the core reasons why most traders stick to trading bitcoin on the other hand altcoins brings high-risk, high-reward opportunities. The volatility in altcoins presents both risks and opportunities. As a trader, navigating uncertainty strategically can lead to high-reward trades, though for me, I mostly choose to trade BTC while leveraging a good derivatives platform. What about you and which exchange did you use in trading, kindly share with us.

Depends on your risk appetite and your knowledge since somehow you can trade Bitcoin if you know how to deal with its risk. To many people trade Bitcoin on futures so maybe you could get some experience then decide for yourself if trading is your thing.

But if you can't and realize that trading is risky you can go to other option which is to hold Bitcoin since this is another ideal thing to do especially that future is always promising and looking at history it shows that holders gain a lot from choosing this type of investment. Also it will avoid you not only to get lots of pressure due to some fuds and other market stressful movement , but also with other things that can disturb your peace for looking at the current direction of the market.

[Z-tight]

I think this thread better fits in the trading discussion section, since you are talking about trading. I prefer to buy BTC and hold it for the long term, rather than trading with it and expose myself to more risks. Day traders may prefer altcoins though, maybe because of the volatility and the chances of them making profit, though the volatility can also present losses too, that's why trading is considered much more risky than just holding.

[Cryptohygenic]

Before getting to to trade a coin, if you want to be successful you have to be indebted to first understand the coins potentials and market cap.
Getting into every listed coins in the exchange can be so risky for traders instead you just need to adopt few coins, get used to their community users and rest up on them so you don't go buy coins that will not be in need when reselling.
The dominance of bitcoin in adoptions has made it confidentially a coin that every traders find profitable because it has come to stay with no going extinction and there are being demands and supplies on regular basis in the market cap.

[peter0425]

Certainly trading with BTC is the safest option. Trading with alts, especially some bump/dump shitcoins, very easily fills the bag with worthless numbers of some promising projects.

Trading with extremely volatile altcoins can be very risky. You are going to have to execute your trades well and timing is very crucial in here. Not everyone can trade these very volatile altcoins regardless of how profitable they can be. Altcoins that are less volatile can be traded easier like ethereum for example.

[GideonGono]

If you have the skills to earn in trading, why not maximize it by doing alt coins?
Alt-coin fluctuates more than Bitcoin, so other traders take it as an opportunity to gain more, rather than just holding what they bought.

[maydna]

That will be okay if you only choose Bitcoin as your trading because you think only Bitcoin offers the dominance at the market so your opportunity to make a profit will be bigger. But as a trader, it is better we try with the other coins beside of Bitcoin so our opportunity to make a profit will be bigger. But whatever coin you choose for your trade, you must have skill in analyzing and can make strategy for your trading. If you have a high skill in trading, you will see many opportunities that you can get from various coins.

[SquirrelJulietGarden]

Certainly trading with BTC is the safest option. Trading with alts, especially some bump/dump shitcoins, very easily fills the bag with worthless numbers of some promising projects.

Bitcoin is a safest option for trading in cryptocurrency market, because it has less volatility than altcoins. In trading, either Spot or Margin or Futures, Bitcoin is best for trading too because of its narrower margin of price changes, less volatility than altcoins. Even with Margin or Futures, you will have less risk of liquidations than with altcoins.

With Spot trading, if you open a bad trading position, you can hold your bitcoin like a holder, with acceptance of risk by holding your coins on centralized exchanges, it's not recommended as it is very risky.

Reminder: do not keep your money in online account.

[examplens]

Trading with extremely volatile altcoins can be very risky. You are going to have to execute your trades well and timing is very crucial in here. Not everyone can trade these very volatile altcoins regardless of how profitable they can be. Altcoins that are less volatile can be traded easier like ethereum for example.

Sure, check this for example
$NKLA Went from a $23B market cap stock to 0. 


https://x.com/DaanCrypto/status/1892194530247553246

[Zaguru12]

As a trader i strongly believe Bitcoin offers stability and dominance which is one of the core reasons why most traders stick to trading bitcoin on the other hand altcoins brings high-risk, high-reward opportunities. The volatility in altcoins presents both risks and opportunities. As a trader, navigating uncertainty strategically can lead to high-reward trades, though for me, I mostly choose to trade BTC while leveraging a good derivatives platform. What about you and which exchange did you use in trading, kindly share with us.

Everyone trades bitcoin because even if you don’t trade bitcoin you certainly need analysis from bitcoin to help get better confluences on other trading pair, that’s why you see many traders usually start the day with bitcoin analysis first before others. As to the pair I trade it is bitcoin and sometimes other coins. One reason why I feel like you need to actually have a favourite pair you trade is simply to actually get better knowledge of the pair.

If someone decides to either focus on trading BTCUSDT as pair I believe even if the market is actually unpredictable you will be able to not only understand the pairs chat pattern, but also can be able to focus on its fundamentals than going through lots of pairs fundamentals. One aspect of trading is backtesting your trades and with one pair it is much much easier to do this.

For me I use Bybit to trade but due to the charges of recent I have moved to MEXC at the moment

[Gaza13]

Bitcoin is the safest, in my opinion however traders’ best friend is basically volatility. Bitcoin is volatile but is it still the most volatile among many cryptocurrencies? No. Altcoins out there are far more volatile and traders can make the most out of this volatility granted of course that they are well knowledgeable and experienced because it is incredibly risky.

In the world of stocks or investments, volatility is a common thing, but Bitcoin's volatility tends to be safer or more stable, there is no one that can match Bitcoin's volatility. It is true that this altcoin has much wilder price movements compared to the mother of all coins, namely bitcoin, it is certain that traders will definitely take advantage of this momentum because this is what they have been waiting for and will enter when the time comes and get big profits. Of course we have to have experience and knowledge and you are already involved in trading, staying up late without knowledge is the same as committing suicide.

[Mrbluntzy]

Trading only Bitcoin will also make a trader to ramain relevant in their trading journey because they will be so accustomed to the BTC pair that they can minimize more lose compare to if they are trading different cryptocurrencies that can make them not be focused. When trading, if you are too greedy  and if you can not be patient and you start trading different crypto, you can have more lose than someone that focus just on Bitcoin.