Should Beginners always avoid Altcoins

[Y3shot]

The reason why beginners are advised to stay away from altcoins is because of projects in the altcoin circle. These are projects that are not reliable, and it is very difficult for beginners to find altcoins that are reliable.

Beginners don’t make decisions based on what they know or understand; instead, they make decisions based on assumptions or their own personal conclusions about how they see a coin. It is easy for beginners to make mistakes when going into altcoin investments; that is why it is better for them to stay away from it and learn to gain experience on how to approach a reliable project.

[Sunshine1525]

Removed.

If you hang around four fools always be prepared to become the fifth fool. That's how it's with the crypto market, if you keep distracting yourself with altcoins then you'll lose focus with accumulating Bitcoins and begin to full your portfolio with the so called next bitcoin, that'll only bring down your portfolio instead of adding value to it.

Trust me as it's experience that's talking here, you might make profits from the first few that you invested into but as you go deep into the altcoins and begin to get into presales or look for opportunities that are excluded to only early investors then you'll begin to lose and by then you won't even bother investing in Bitcoin but instead, you'll be chasing after the next shinning crypto which will bring you down more.

Different coins have been created with the idea of being the next Bitcoin but they've all failed to get to that leve so instead of wasting time on them it's better to focus on the main coin which is Bitcoin. It is only coin with the potential of giving true wealth that can be sustained for the future, you could imagine how someone who took their investment seriously could be which is why I agree with your advise boss.

I'll rather be exceptional than be the fifth fool so I'll support taking Bitcoin seriously than every other coin so i don't divert money that should be put into it to shitcoins.

[Pablo-wood]

If you hang around four fools always be prepared to become the fifth fool. That's how it's with the crypto market, if you keep distracting yourself with altcoins then you'll lose focus with accumulating Bitcoins and begin to full your portfolio with the so called next bitcoin, that'll only bring down your portfolio instead of adding value to it.

Trust me as it's experience that's talking here, you might make profits from the first few that you invested into but as you go deep into the altcoins and begin to get into presales or look for opportunities that are excluded to only early investors then you'll begin to lose and by then you won't even bother investing in Bitcoin but instead, you'll be chasing after the next shinning crypto which will bring you down more.

Different coins have been created with the idea of being the next Bitcoin but they've all failed to get to that leve so instead of wasting time on them it's better to focus on the main coin which is Bitcoin. It is only coin with the potential of giving true wealth that can be sustained for the future, you could imagine how someone who took their investment seriously could be which is why I agree with your advise boss.

I'll rather be exceptional than be the fifth fool so I'll support taking Bitcoin seriously than every other coin so i don't divert money that should be put into it to shitcoins.

I think the crypto market is already complex enough for a beginner to dive into every altcoin they find in the space. Every wise person will want to start simple and then slowly grow or preferably stick to bitcoin as long as it gives them their ROI. If altcoins were easy to navigate or their projects with so much potential as they claim it won't have taken them forever to outshine bitcoin.

Because Bitcoin remain king of the crypto market and digital assets in general it is a best place to start, grow, learn and build a meaningful portfolio around. Not all portfolios are worth having because some can drain assets and ruin efforts.

[RockBell]

I think the crypto market is already complex enough for a beginner to dive into every altcoin they find in the space. Every wise person will want to start simple and then slowly grow or preferably stick to bitcoin as long as it gives them their ROI. If altcoins were easy to navigate or their projects with so much potential as they claim it won't have taken them forever to outshine bitcoin.

And they can actually enter the market; all you need to do is learn and understand which coins to purchase. In this way, you will be able to choose the best coins for yourself because there are coins that have no potential and you will lose your money because there are many coins that will liquidate a lot of people. You will be able to choose the right coin when you conduct your own research. To select the best coin.

Because Bitcoin remain king of the crypto market and digital assets in general it is a best place to start, grow, learn and build a meaningful portfolio around. Not all portfolios are worth having because some can drain assets and ruin efforts.

Avoiding a lot of coins can help you avoid needless drama. If they just purchase Bitcoin, you will know that you are safer because the cryptocurrency can recover from any market conditions and individuals should act in their best interests. Because aside anything there are a lot of scam projects out there.

[Freeveto]

The reason why beginners are advised to stay away from altcoins is because of projects in the altcoin circle. These are projects that are not reliable, and it is very difficult for beginners to find altcoins that are reliable.

Beginners don’t make decisions based on what they know or understand; instead, they make decisions based on assumptions or their own personal conclusions about how they see a coin. It is easy for beginners to make mistakes when going into altcoin investments; that is why it is better for them to stay away from it and learn to gain experience on how to approach a reliable project.

When you are joining the system new, existing projects that are there before are the best ones to invest in, chasing big profit through altcoins will lead you nowhere as a beginner because you have no clue and have no knowledge about the entire crypto market.
Bitcoin being the pioneer should be what you should focus on as a beginner before you can learn and understand everything about crypto, you don’t need to rush new projects, they are being created everyday in crypto space, you need the knowledge and the confidence to invest in them.

[Versatile_choice]

~snip~

I be wan canter watin you talk for your first paragraph but I say make i first cool down read everything before I know watin I go tell you but your second paragraph come make sense wey come make me calm down. That one aside, the idea of new investor to first invest in Bitcoin before looking elsewhere na the main thing wey anybody wey dey reason straight for the crypto level surposed do because Bitcoin na the main Koko wey everybody know. E no be like other coins wey still dey shake like say e fit crash tomorrow, Bitcoin no dey like that. So the confirmed truth be say e better say make you no even invest at all than you Carry all your hard earned money go put inside watin you no dey sure of then start to dey cry tomorrow, instead of unnecessary regret wey fit give you problem tomorrow just put watin you know say na your discretionary funds inside Bitcoin then go sleep because everything don set for you.

You know one of the problem about most Investors especially newbies is that they don't listen to instructions, even though you advice them not to Invest in shitcoin at first they will agree with you but you will be surprise when they will go behind your back to invest. The truth is that everyone is entitled to make decisions more especially on this aspect, but even though they will feel like to give it a trial regardless of the risk that is involved in it but they should not think about putting enough money in shitcoin because such inferior coins is not worth putting a huge amount of money into because they can disappear at anytime.

[Wiwo]

~snip~

I be wan canter watin you talk for your first paragraph but I say make i first cool down read everything before I know watin I go tell you but your second paragraph come make sense wey come make me calm down. That one aside, the idea of new investor to first invest in Bitcoin before looking elsewhere na the main thing wey anybody wey dey reason straight for the crypto level surposed do because Bitcoin na the main Koko wey everybody know. E no be like other coins wey still dey shake like say e fit crash tomorrow, Bitcoin no dey like that. So the confirmed truth be say e better say make you no even invest at all than you Carry all your hard earned money go put inside watin you no dey sure of then start to dey cry tomorrow, instead of unnecessary regret wey fit give you problem tomorrow just put watin you know say na your discretionary funds inside Bitcoin then go sleep because everything don set for you.

You know one of the problem about most Investors especially newbies is that they don't listen to instructions, even though you advice them not Invest in shitcoin at first they will agree with you but you will be surprise when they will go behind your back to invest. The truth is that everyone is entitled to make decisions regarding this aspect but even though they will feel like to give it a trial regardless of the risk that is involved in it but they should not think about putting enough money in shitcoin because such inferior coins is not worth putting a huge amount of money into because they can disappear at anytime.

The problem with most newbies who got scammed from exit shitcoins investment is because their are greedy and hard a stereotyped understanding of cryptocurrency that kt make one rich quick.

So when such newbies come across an experience bitcoin/cryptocurrency investors, that they should stay away from shitcoins or altcoins in general, they begin to think that, you don't want them to get to the level you are that is why you are giving them that warning signals.

Until they go behind your back and fall victim to rug pull shitcoins, then they will learn their lesson from experience.

[Giwagi56]

One advice that is always quick to be given to people that eventually want to get into crypto currency is that they should stay away from altcoun and focus on Bitcoin at least for the first year of their investing....
I think I quite understand why this advice us usually given but one thing I tend to ponder about is the fact that if this is applicable to everyone. Like does it mean that everyone going I to crypto sglhouldnt consider any altcoun at all?

I know that most people likely get into crypto because they heard that one token did 50x or even 100x. The excitement or the hype tend to push a lot of people to consider investing too even when they don't under the basics if market cycle, liquidity or even the tokenomic of the said token. A lot of them are usually just profit focused that they don't even realise the risk involved in what they want to do. And most times they learn the hard way when they are been rugged pulled or when they encounter a pump and dump.
This is different for Bitcoin because it has stood the test of time in all market cycle and trends. And it is the major reason why people advice to stick to just Bitcoin, because it has earned its reputation.

I don't think theistake people make is in buying or investing in altcoun, I just feel that a lot of them go in blindly. And the same is true for Bitcoin . If you go in blindly without understanding core concepts then you will lose money regardless. Not just crypto but everything in general.

But then do we think that this is enough for beginners to avoid altcoins altogether?? Or is there any value they stand to gain when they explore them alongside Bitcoin.

As a beginner don’t get yourself involved in anything concerning Altcoins, it is not that bad for some beginners are not that smart the way you think because some of them will think Altcoins and bitcoin are the same thing and when they start investing in Altcoins and things did not go well for them they will be seeing Altcoins as the same thing with Bitcoin and that can make people who are interested in bitcoin close to them to feel like Bitcoin is not good to buy.

I won’t give any newbie advice to invest in Altcoins because Altcoins is not for the weak, many people who know about crypto don’t want to buy any coins that it not bitcoin, so seeing a newbie try to do that look like they are putting themselves in something that they don’t know anything about, no one can invest in Altcoins and be expecting a good return, it is just like a gambling.

[Rubuchi]

The reason why beginners are advised to stay away from altcoins is because of projects in the altcoin circle. These are projects that are not reliable, and it is very difficult for beginners to find altcoins that are reliable.

Beginners don’t make decisions based on what they know or understand; instead, they make decisions based on assumptions or their own personal conclusions about how they see a coin. It is easy for beginners to make mistakes when going into altcoin investments; that is why it is better for them to stay away from it and learn to gain experience on how to approach a reliable project.

let's take a look at it from this direction, instead of saying that the beginners should completely avoid altcoins which looks like they will be avoid them forever, e better make we talk say make the beginners try make them they stay away from investing inside these altcoins until them sabi the market wella and how the market they take operate first. The reason why we go they give this kind advice be say altcoins market wey u see e they very full of thousands of projects yakpa but plenty of these projects no get any utility or disappear after a short period of time. If person no get proper and enough knowledge on top how the market they waka and  on top how those altcoin they operate properly e go they easy make all these influencers use hype and promises of quick profits to deceive you enter inside gbese.

[Franklyn-wood]

The reason why beginners are advised to stay away from altcoins is because of projects in the altcoin circle. These are projects that are not reliable, and it is very difficult for beginners to find altcoins that are reliable.

Beginners don’t make decisions based on what they know or understand; instead, they make decisions based on assumptions or their own personal conclusions about how they see a coin. It is easy for beginners to make mistakes when going into altcoin investments; that is why it is better for them to stay away from it and learn to gain experience on how to approach a reliable project.

let's take a look at it from this direction, instead of saying that the beginners should completely avoid altcoins which looks like they will be avoid them forever, e better make we talk say make the beginners try make them they stay away from investing inside these altcoins until them sabi the market wella and how the market they take operate first. The reason why we go they give this kind advice be say altcoins market wey u see e they very full of thousands of projects yakpa but plenty of these projects no get any utility or disappear after a short period of time. If person no get proper and enough knowledge on top how the market they waka and  on top how those altcoin they operate properly e go they easy make all these influencers use hype and promises of quick profits to deceive you enter inside gbese.

Altcoin is not as bad as it is made to look but it needs couple of experience to be able to understand how it works for people who are investigating in it onlike Bitcoin. Having a better understanding about altcoin makes the difference and does not warranty ones safety as an investor but guides one to know when to invest and how to avoid being scammed by some projects that are not real but presented as if they are real. All newbies should avoid investment before learning so they won't be victim's of scammers and other forms of losses.

[WhoYouCantKill]

For their own safety, I’ll say YES, they should try as much as possible to avoid investing or holding altcoins. This is because there are several of these altcoins that have flooded the crypto space, and majority of them are just pump and dump projects, promising high ROIs, and for beginners it can be very easy to fall for these kind of traps and end up getting rug pulled at the end of the day.

[Adams0001]

We are not saying altcoins are bad , altcoins are not bad . But some  can endup being a complete waste of time and resources, the problem with investing in altcoins is that is not easy to find a good ones . Unlike bitcoin you have already know that is the only of its kind the others are altcoins, so you can’t see like two bitcoin . Thinking on which to invest on , but now you know is only one bitcoin so best thing to do is to invest in it .

Anyone can buy what they prefer most. You can buy any coin you think you like and hold it for the long term. There are a lot of investors that don’t only hold Bitcoin. Some prefer altcoins over Bitcoin to keep because it’s for the short term. Not everyone always has that patience to keep Bitcoin for a long period of time. Beginners always have choices based on what they have understood in crypto.

But when you ask many investors as a beginner, they will tell you to buy Bitcoin and use the DCA method to keep your coin for a long time, and that can always minimize your risk. When you have more funds, you can hold both Bitcoin and altcoins. That can give you more experience.

[Mr_Brilliant$]

The reason why beginners are advised to stay away from altcoins is because of projects in the altcoin circle. These are projects that are not reliable, and it is very difficult for beginners to find altcoins that are reliable.

Beginners don’t make decisions based on what they know or understand; instead, they make decisions based on assumptions or their own personal conclusions about how they see a coin. It is easy for beginners to make mistakes when going into altcoin investments; that is why it is better for them to stay away from it and learn to gain experience on how to approach a reliable project.

The fact that Altcoins are not Reliable is enough reason to stay away from it, history has shown how messed up the Altcoin ecosystem is, unnecessary volatility, rug pull and all that. But yet people or beginners in crypto would still want to pay attention to Altcoin..
Why not just stick with Bitcoin that history and statistical data has shown that it could be relied on, even though it’s still not 100% guaranteed, but at least it is way more better than shit and Altcoins..

[Futurexxx]

We are not saying altcoins are bad , altcoins are not bad . But some  can endup being a complete waste of time and resources, the problem with investing in altcoins is that is not easy to find a good ones . Unlike bitcoin you have already know that is the only of its kind the others are altcoins, so you can’t see like two bitcoin . Thinking on which to invest on , but now you know is only one bitcoin so best thing to do is to invest in it .

Anyone can buy what they prefer most. You can buy any coin you think you like and hold it for the long term. There are a lot of investors that don’t only hold Bitcoin. Some prefer altcoins over Bitcoin to keep because it’s for the short term. Not everyone always has that patience to keep Bitcoin for a long period of time. Beginners always have choices based on what they have understood in crypto..

Nobody is disputing the fact that investors or newbies investors can not buy any coin of their choices if they pleases, but the reason why newbies investors are adviced to stay off alt coin is because they may still be ignorant to know how to go about them.

Some people buy and sell once they are in profit, while the ignorant ones hold on further, which in the end, they lose some money before finally selling at a loss, so ignorance is the main reason newbies are adviced not to go near them, because they are mostly like gambling, unlike Bitcoin that is a reliable investment. In this crypto space most people learn by experience, when they have been burnt already, but a wise person will learn with other people experience, so it's best that newbies should learn from people's experience by staying off it, than getting burnt and learning the hard way.

[EarnOnVictor]

-Snip-
But then do we think that this is enough for beginners to avoid altcoins altogether?? Or is there any value they stand to gain when they explore them alongside Bitcoin.

I've always been in the position of fair investing. And as Bitcoin is more liquid and the most dependable, altcoins are not bad too. As a matter of fact, many altcoins could deliver more ROI to you than Bitcoin. But where investors get it wrong is by being greedy. They want the repeat of the old times where a coin/token could easily deliver 50x into your wallet. But that time is gone, and if you would get it these days, it would be a matter of luck. That is why you see investors searching everywhere for the best altcoins, but in the end, they lose woefully.

The solution: Go for the top-rated/liquid altcoins when they have sold so much, for about 2 years. They could easily deliver 5x or more into your wallet.

[Samuel47]

No, beginners do not always need to avoid altcoins, but they should be very careful. Most altcoins carry a high risk of loss. New users often buy random tokens and lose money.
High price swings can wipe out your funds fast they should be very very careful avoid scam or fake people in the altcoins only Stick mostly to large, trusted coins like Bitcoin or bitget first.Do deep research before you buy any new token.Only spend money you can afford to lose completely stay clear avoid scam or fake people like as I said be very careful

[Different patterns]

As a beginner don’t get yourself involved in anything concerning Altcoins, it is not that bad for some beginners are not that smart the way you think because some of them will think Altcoins and bitcoin are the same thing and when they start investing in Altcoins and things did not go well for them they will be seeing Altcoins as the same thing with Bitcoin and that can make people who are interested in bitcoin close to them to feel like Bitcoin is not good to buy.

I won’t give any newbie advice to invest in Altcoins because Altcoins is not for the weak, many people who know about crypto don’t want to buy any coins that it not bitcoin, so seeing a newbie try to do that look like they are putting themselves in something that they don’t know anything about, no one can invest in Altcoins and be expecting a good return, it is just like a gambling.

You have a point bro, I also think am that way, especially newcomers that enter crypto space new, they assuming that every cryptocurrency is all the same as bitcoin, once they hear  “ crypto “ they basically categorize everything as bitcoin. Without understanding and go research what the difference is between bitcoin and other coins. And if there first investment in crypto space didn’t go well, they will definitely conclude that bitcoin has no different even if the risk is different.

Beginners priority should always be learning and understanding bitcoin before even thinking of knowing other coins. Because bitcoin is only digital assets that has consistently proven itself. Once someone understands what bitcoin is all about, the chance of fall victim in altcoins will reduce. My advice be say as a new investor in cryptocurrency, build a strong bitcoin position is better than investing in many altcoins that will later regret.