Should Beginners always avoid Altcoins

[Proty]

It takes some one with much experience to invest in Altcoin, shitcoin and all of it because folks easily loss money in investing in those pump and dump coin, as a beginner invest in bitcoin if you your discretionary income and make sure as you are buying you are also holding your investment for a long time, bitcoin is reliable and trustworthy to invest on though i know that no investment is risk free but investing in bitcoin for a long time doesn't come with much risk compare to some one who is putting his money on Altcoins.

is even better than investing in shitcoins because there are good altcoins available. In my opinion, it is best to invest in Bitcoin and then a few other altcoins rather than altcoins and shitcoins. When it comes to investing, I believe it is best for beginners to choose more reputable coins because when it comes to all of this, you go for what you can invest and then you will make your money back in the future, so investors should do their own research before investing.  Because beginners need to learn how to reduce risk, everything will depend on them because if you don't do the right thing to there will be less issues so it is best invest in coins that you are familiar with so that they can survive what ever Market conditions.

Altcoin is what is refers to as shitcoin. If you are investing in Altcoin instead of bitcoin you are making a great mistake because most of the Altcoin doesn't have any value that's the reason why it is refers to as shitcoin. It can turn to dust at any time, therefore it will be a waste of time to put money in something that doesn't hold real value. For those that are too into Altcoin, investing 10% of there discretionary income won't be a bad idea but it is best if they can stay away from shitcoin. Bitcoin remains the only potential coin that is worth investing in, and is nothing compared to any Altcoin

[osasshem]

I have come to understand that newbies that make their investment decision starting with altcoins end up quitting at the end when the market trajectory goes on the negative direction, this is because the stories they where told didn't become what they saw. This makes people who has little to no knowledge about crypto currency to have a negative view over it and that dents the name of Bitcoin in their minds, making it sound odd whenever they hear things related to it.

People tend to forget that their ideology behind Bitcoin and crypto currency is that you have to DYOR before taking an action. Bitcoin is the safest for newbies, it doesn't mean there are no good altcoins they can invest in, but for the fact that Bitcoin has gained its reputation over the years gone bye, that is why it is recommended for all newbies to take their start with it.

[Localhostspeed]

Altcoin is what is refers to as shitcoin. If you are investing in Altcoin instead of bitcoin you are making a great mistake because most of the Altcoin doesn't have any value that's the reason why it is refers to as shitcoin. It can turn to dust at any time, therefore it will be a waste of time to put money in something that doesn't hold real value. For those that are too into Altcoin, investing 10% of there discretionary income won't be a bad idea but it is best if they can stay away from shitcoin. Bitcoin remains the only potential coin that is worth investing in, and is nothing compared to any Altcoin

Not altcoins are referred to as shitcoins, they are just another set of coins that are just as bad. If you check between memecoins and altcoins, there are some that are no that bad. Dogecoin was nothing that time but it's one of the biggest and first meme coins, there are some altcoins too thatbade doing well but inside these two, there tons of shitcoins and memecoins that are very bad, I don't know the best name to describe them but they are very bad.

If not now that the altcoin market is terrible, then when people used to make so much money, the profits in altcoins can change your life in one day but the problem is they are not good for long time. You can't invest $1000 in an altcoins and think you are going to make it in the next 5 years. You can come back to that investment and see that it's worth $10, only an altcoin can make such possible.

[sotelorene]

Altcoin is what is refers to as shitcoin. If you are investing in Altcoin instead of bitcoin you are making a great mistake because most of the Altcoin doesn't have any value that's the reason why it is refers to as shitcoin. It can turn to dust at any time, therefore it will be a waste of time to put money in something that doesn't hold real value. For those that are too into Altcoin, investing 10% of there discretionary income won't be a bad idea but it is best if they can stay away from shitcoin. Bitcoin remains the only potential coin that is worth investing in, and is nothing compared to any Altcoin

You are right but it is funny how some people say they are taking risk mean why, the reason they are doing it is greed, they want to become rich overnight when they know it only takes luck for that to actually happen. Most of the people we see that boom with shitcoins are people that was very lucky to invest when those shitcoins was about to take a massive movement in their direction and expectation so it doesn't happen all the time and we can not tell when it will happen that is why it is not advised for someone to put so much hope in shitcoins because it can disappoint.

[BItcoin Guy@]

As a beginner in crypto trading or investment it is important to make sure that you carryout proper research before making an investment in altcoins, you can avoid them in rge beginning but not totally. it is advised to start with Bitcoin and subsequently you can move further into altcoins investment but of course this is after you must have carried out your research. As a newbie avoid trying to make quick profits in the crypto market because most beginners that invest in altcoins actually have this in mind that's why they end up losing a lot and saying crypto is a scam but they are the ones making the mistake.

Making good research when investing in altcoins is the best option for newbies, so that they can know the risk involved and can probably face the challenge. Bitcoin is the best for newbies to invest in, so that they can minimize their risk. And when they know about the DCA method, that can be good, and their investment journey can go smoothly.

The problem with some newbies is that they don’t always look at the risk involved. They just focus on the profit. And whenever you can’t control your investment, it will be difficult to achieve profit. Anyone that calls crypto a scam is just wasting their time, and no one will believe them when you have studied crypto.

[AmaGold70]

If you are new to cryptocurrency investing, you actually need to avoid altcoins, the reason is that altcoins investment is full of risk, and many times investors end up making losses. Plenty of the altcoins have their ways of pumping temporarily, and when they dump in price, they dump even up to zero, and wouldn't rise again.
In the case of bitcoin, you will always make profit if only you can exercise patience, and their are investors who even declared not to invest in any other cryptocurrencies no matter how enticing or promising they might look, and the only investment they are sure of and trust is only bitcoin. Bitcoin has gained so much trust because of it's growth and consistency, and remains the best so far cryptocurrency is concern.

[Out of mind]

When a new person enters crypto, his intention is to make money very quickly from here. Those who have little knowledge think that they can become the owner of money by investing here, but in reality, that is not the case. There are many new people who receive many signals from various social media and Telegram channels and invest in altcoins, as a result of which they fall victim to fraud. This investment in altcoins is always risky. Those who invest here cannot make much profit. Fortunately, when the market situation is a little better, many experienced people make profit from here. Therefore, new people should be more careful in investing because there is always a high chance of losing money in altcoins, so it is best to avoid it. You should never join investment and trading without gaining sufficient knowledge and experience. It will lose your money. And if new people can get a little better education, then of course they should invest in Bitcoin, if you invest in Bitcoin, it will not be a big loss. If you can keep it for a long time, it is possible to make a lot of profit.

[Tonimez]

When a new person enters crypto, his intention is to make money very quickly from here. Those who have little knowledge think that they can become the owner of money by investing here, but in reality, that is not the case. There are many new people who receive many signals from various social media and Telegram channels and invest in altcoins, as a result of which they fall victim to fraud. This investment in altcoins is always risky. Those who invest here cannot make much profit. Fortunately, when the market situation is a little better, many experienced people make profit from here. Therefore, new people should be more careful in investing because there is always a high chance of losing money in altcoins, so it is best to avoid it. You should never join investment and trading without gaining sufficient knowledge and experience. It will lose your money. And if new people can get a little better education, then of course they should invest in Bitcoin, if you invest in Bitcoin, it will not be a big loss. If you can keep it for a long time, it is possible to make a lot of profit.

It is not advisable for a beginner to start investing into altcoins when he knows little or nothing yet instead of concentrating on bitcoin the much he can. The danger of going into altcoins as a beginner is that when they go into these altcoins and get scammed or loose their money, they then start seeing bitcoin too as an altcoins and they generalise bitcoin as a scam without considering the fact that they made the wrong choice from the beginning. A beginner should be more focused on his success path which is not the same as quick money. A beginner who finds his way into cryptocurrency from no where is different from a beginner who joined cryptocurrency through someone who's experienced. The earlier is always very prone to losses while the later has high success probability of he hearkens to instructions and advice and not playing "Over Sabi" when he should be learning. I know that some experienced people can also give beginners wrong advice, but majority will tell them the truth that altcoins can destroy your finances when you are not experienced.

[MainIbem]

It is not advisable for a beginner to start investing into altcoins when he knows little or nothing yet instead of concentrating on bitcoin the much he can.

They can't be totally avoided since they're still cryptocurrency and some of them might likely do better in the future but for a beginner with zero knowledge of crypto it's best they avoid it cause it's more riskier than Bitcoin, you can be lucky to make lots of cash and still lose everything if you're not careful. That's not what a beginner should start with but something that's proven to be trustworthy for long term holding, therefore your advice for beginners to start with Bitcoin is a very good one. If they can understand Bitcoin to a good extent then finding their way around Alts won't be as tough as when they were new in Bitcoin/Cryptocurrency.

[Dareo]

In the case of bitcoin, you will always make profit if only you can exercise patience, and their are investors who even declared not to invest in any other cryptocurrencies no matter how enticing or promising they might look, and the only investment they are sure of and trust is only bitcoin. Bitcoin has gained so much trust because of it's growth and consistency, and remains the best so far cryptocurrency is concern.

Yes, from this perspective, it may be easier for beginners to focus on Bitcoin first, because it does not have to worry about many projects at once but Bitcoin will guarantee short term profit. Because bitcoin itself is a fairly volatile asset. We have to wait a long time to get profit from it. However in the case of altcoins, the most important thing for me is verification, It is not right to assume that a coin is a good project just by seeing its price suddenly increasing. And I see that  the biggest mistake beginners make is to invest in altcoins after hearing about influencers, without their own research.

[AGogi2003]

Yes, from this perspective, it may be easier for beginners to focus on Bitcoin first, because it does not have to worry about many projects at once but Bitcoin will guarantee short term profit. Because bitcoin itself is a fairly volatile asset. We have to wait a long time to get profit from it. However in the case of altcoins, the most important thing for me is verification, It is not right to assume that a coin is a good project just by seeing its price suddenly increasing. And I see that  the biggest mistake beginners make is to invest in altcoins after hearing about influencers, without their own research.

Some beginners prefer fast money, and only altcoins can give them such benefits fast. Bitcoin is always for a long-term purpose. You can’t just invest in Bitcoin and think the price will increase deeply, but in a good way. Bitcoin will be the good move for newbies to invest in, since it has risk management. And if you’re patient enough, you can just focus on Bitcoin, set your target, and wait for the price to increase to achieve your goal.

It’s good to try different coins and see if you can be successful with them, because some investors don’t always focus on one particular coin. They test many, and see which one can give them profit when they take the risk.

[Xackie]

In the case of bitcoin, you will always make profit if only you can exercise patience, and their are investors who even declared not to invest in any other cryptocurrencies no matter how enticing or promising they might look, and the only investment they are sure of and trust is only bitcoin. Bitcoin has gained so much trust because of it's growth and consistency, and remains the best so far cryptocurrency is concern.

Yes, from this perspective, it may be easier for beginners to focus on Bitcoin first, because it does not have to worry about many projects at once but Bitcoin will guarantee short term profit. Because bitcoin itself is a fairly volatile asset. We have to wait a long time to get profit from it. However in the case of altcoins, the most important thing for me is verification, It is not right to assume that a coin is a good project just by seeing its price suddenly increasing. And I see that  the biggest mistake beginners make is to invest in altcoins after hearing about influencers, without their own research.

Altcoins is a very wrong place for newbies to venture into. Alot of them are just driven by hypes, and when that hypes die down, so as the asset begins to crash. But I won't really blame newbies for investing in Altcoins, it's the kind of information they received that makes some of them to buy Altcoins, thinking it will make them rich overnight.  Social media alone can influence newbies into making wrong decisions, especially if they follow people who talk about Altcoins all the time and the next coin that is supposedly going to moon. That kind of thing cause excitement in newbies mind. For me I feel it's the people that gets the right information that focus on Bitcoin. Even in Bitcoin, newbies can also lose their money , if they aren't being careful and their sole purpose is driven by quick profit.
They can lose their money if they decide to focus on short term gains, invest with money meant for their daily needs or beyond their capabilities. Any asset is risky, the things newbies need to have is for them to get the right knowledge from a good source.

[Btcdeybodi]

The advice is for people to take precautions, and for me, it’s best to first come into the crypto world through Bitcoin, stay a bit in the community, and learn how to study the altcoin market so that you don’t buy trends instead of investing in something with real value.

Just as you rightly said, a beginner should not have any business with altcoins because that is how many people mistake altcoins for bitcoin because as soon as they invest in altcoins and lose, they tag it along with bitcoin even when they haven't really had any dealings with bitcoins, but if they first invest in Bitcoin and see that it isn't a get rich quick scheme, it will help them to be careful about altcoins since most of them are just hype coins.

Not all altcoins are completely bad, but the majority of them are just cash cows; the developers are the ones using them as a means to enrich their pockets, and their major targets are those who are too eager to make fast profit. They give them exactly what they need in the form of projects and marketing.

That is why a beginner needs to be careful and invest in Bitcoin because they are the major targets of these altcoins developers. They already know that beginners are always inquisitive for short term profits and investments that will skyrocket within in a blink.

[Webutxo]

I have come to understand that newbies that make their investment decision starting with altcoins end up quitting at the end when the market trajectory goes on the negative direction, this is because the stories they where told didn't become what they saw. This makes people who has little to no knowledge about crypto currency to have a negative view over it and that dents the name of Bitcoin in their minds, making it sound odd whenever they hear things related to it.

People tend to forget that their ideology behind Bitcoin and crypto currency is that you have to DYOR before taking an action. Bitcoin is the safest for newbies, it doesn't mean there are no good altcoins they can invest in, but for the fact that Bitcoin has gained its reputation over the years gone bye, that is why it is recommended for all newbies to take their start with it.

We can't blame newbies all the time, you know for a person to start something they must have heard it somewhere first how they should do it. The people that advice them to invest in altcoins are to be blame about the choice of coins. The centralized esxhanges and their marketing advertising are responsible for why newbies buy these coins when even the esxhanges know the coins that are the best, they know the first thing they need to buy.

I want you to observe exchanges very well, they know that altcoins will make them richer because they get to do insider trading too, they will never admit of not trading with the people, some of them are insider market makers. They make money from fees, all these combine is why exchanges prefer newbies go after the altcoins so they can make money. Mostly these coins are pump deliberately to attract newbies, all are done on purpose.

[fredericktaylor]

Yes, from this perspective, it may be easier for beginners to focus on Bitcoin first, because it does not have to worry about many projects at once but Bitcoin will guarantee short term profit. Because bitcoin itself is a fairly volatile asset. We have to wait a long time to get profit from it. However in the case of altcoins, the most important thing for me is verification, It is not right to assume that a coin is a good project just by seeing its price suddenly increasing. And I see that  the biggest mistake beginners make is to invest in altcoins after hearing about influencers, without their own research.

Some beginners prefer fast money, and only altcoins can give them such benefits fast. Bitcoin is always for a long-term purpose. You can’t just invest in Bitcoin and think the price will increase deeply, but in a good way. Bitcoin will be the good move for newbies to invest in, since it has risk management. And if you’re patient enough, you can just focus on Bitcoin, set your target, and wait for the price to increase to achieve your goal.

It’s good to try different coins and see if you can be successful with them, because some investors don’t always focus on one particular coin. They test many, and see which one can give them profit when they take the risk.

I think investing in Altcoins is very risky because it has no specific plan or reliability, so the price can drop at any time, resulting in the destruction of all investments. If the investor invests in Altcoins without understanding anything and only with the intention of getting rich quickly, the possibility of losing all money increases relatively. So I think it is better to buy small amounts of Bitcoin with a long-term plan and hold it for a long time with confidence than to invest in Altcoins. As a result, the possibility of making money from Bitcoin increases when good times come in the future. So buy as many Bitcoins as possible and holding it for a long time reduces investment risk and has the potential for long-term profit.

[Judith87403]

It is not advisable for a beginner to start investing into altcoins when he knows little or nothing yet instead of concentrating on bitcoin the much he can.

They can't be totally avoided since they're still cryptocurrency and some of them might likely do better in the future but for a beginner with zero knowledge of crypto it's best they avoid it cause it's more riskier than Bitcoin, you can be lucky to make lots of cash and still lose everything if you're not careful. That's not what a beginner should start with but something that's proven to be trustworthy for long term holding, therefore your advice for beginners to start with Bitcoin is a very good one. If they can understand Bitcoin to a good extent then finding their way around Alts won't be as tough as when they were new in Bitcoin/Cryptocurrency.

Altcoins can be avoided but that is if you don't want to be greedy and follow a coin that you think that it will increase rapidly but at last it just dumped after you have invested. Beginners should focus on bitcoin, then if they still want to invest in altcoins it is their choice and risk to bear but whoever that wants to invest in altcoins should just take an amount they are willing to lose because they can lose it while trying to make profits from them. Altcoins is like a lucky investment where you just try it with the mindset that you may or may not make profits from them so that in case you make profits you can use it to invest more in bitcoin because Bitcoin has reputation and potentials in the long run.

[ejikeme24]

If you are new to cryptocurrency investing, you actually need to avoid altcoins, the reason is that altcoins investment is full of risk, and many times investors end up making losses. Plenty of the altcoins have their ways of pumping temporarily, and when they dump in price, they dump even up to zero, and wouldn't rise again.
In the case of bitcoin, you will always make profit if only you can exercise patience, and their are investors who even declared not to invest in any other cryptocurrencies no matter how enticing or promising they might look, and the only investment they are sure of and trust is only bitcoin. Bitcoin has gained so much trust because of it's growth and consistency, and remains the best so far cryptocurrency is concern.

You're right, anyone who is new to crypto is not even supposed to be looking at Altcoins because they are all inferior coins, so I can't advice anyone to invest in them. I frequently suggest that instead of a beginner to start their crypto investment journey with Altcoins they should try and start accumulating bitcoin little by little even though it's a Long term investment but it looks more real than those inferior coins. I used to tell my friends that I can't put any damn in Altcoins I would rather throw everything in my Bitcoin investment than to waste them in those pump and dumb coins.

[Youngrebel]

If you are new to cryptocurrency investing, you actually need to avoid altcoins, the reason is that altcoins investment is full of risk, and many times investors end up making losses. Plenty of the altcoins have their ways of pumping temporarily, and when they dump in price, they dump even up to zero, and wouldn't rise again.
In the case of bitcoin, you will always make profit if only you can exercise patience, and their are investors who even declared not to invest in any other cryptocurrencies no matter how enticing or promising they might look, and the only investment they are sure of and trust is only bitcoin. Bitcoin has gained so much trust because of it's growth and consistency, and remains the best so far cryptocurrency is concern.

In the beginning stages of your investment you can avoid them but while doing that you can still be making research on these coins instead of avoiding them totally, altcoins are complicated but a few of them can actually be profitable if you take your time to actually study coins you are investing in. But just as you explained, bitcoin is more profitable to start with and with time you can start diversifying your investment when you are beginning to make progress and have gained enough knowledge on the major aspects that you need.

[uche6215]

Beginners may not necessarily avoid Altcoins but need to be very careful when dealing with Altcoins because they are extremely volatile as their price swings very violently and fast. However, the best play for a Beginner is to focus more on major assets like Bitcoin or Ethereum (best and largest altcoin) at first before exploring on other assets later on.

[laijsica]

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?

In my opinion, it is necessary to have a short-term altcoin plan along with long term Bitcoin investment to gain experience. It is better not to use the entire amount of funds available to you, prioritizing the issue of risk. Most altcoins are risky and buy with funds that you can afford to lose. The sooner you understand the risks of altcoins, the easier it will be for you to stay away from them and focus on long-term Bitcoin savings. Over time, you will learn about the importance of Bitcoin and research how to increase your Bitcoin holdings.