Should Beginners always avoid Altcoins

[Victorybit1]

As a beginner it is important for you to understand that investing in altcoins can be very risky for you because this requires a whole lot of knowledge and based on the fact that you are still trying to understand the crypto market it is not really a good idea to start with focusing on altcoins. Start your investment in Bitcoin and subsequently you can start investing in altcoins but you must still be very careful. When investing in altcoins you must understand that they are very volatile and the risks are very high.

[B-BossMan]

As a beginner it is important for you to understand that investing in altcoins can be very risky for you because this requires a whole lot of knowledge and based on the fact that you are still trying to understand the crypto market it is not really a good idea to start with focusing on altcoins. Start your investment in Bitcoin and subsequently you can start investing in altcoins but you must still be very careful. When investing in altcoins you must understand that they are very volatile and the risks are very high.

Another thing many newbies usually tends to overlook is, making money in cryptocurrency is not all about pusueing the exact coin, but it should be how they can protecting it they have  for long-term period. You see chasing every coin kills alots,because a newbie may decide to goe I ro market today with a good mindset lose woefully, just because he's chasing every new coin that co.es with big hypes and trending everywhere and they are so tempting, especially for newbies and what they normally does is by promising people of a huge returns after investing, so no any guarantees on any. That why it's more advisable to invest in bitcoin, even the bitcoin is not guarantee also but its better you invest inro Bitcoin than any other coins. Beginner should also know that bitcoin doesn't requires huge amount of money for a starting, invest in it gradually with little amount of money for long-term wuth any funds you can afford to lose.

[Alonso_]

Some decisions are personal when it has to do with investing in bitcoin, but personally as a beginner i wouldn’t advice anyone to get entangled with altcoins, talking about the sincerity of investing in bitcoin, here is a bitcoin domain, and the discussion should be about investing in bitcoin.

There are people who are interested in altcoin, and you can’t change their interest in altcoins and they would obviously want to buy some altcoins, altcoins investment can be very very risky, if i want to invest in altcoins it should be a short term investment, I can’t invest in altcoins for the long term purpose, there are people who are investing in altcoins for the purpose of diversification.

[liasbaa]

Some decisions are personal when it has to do with investing in bitcoin, but personally as a beginner i wouldn’t advice anyone to get entangled with altcoins, talking about the sincerity of investing in bitcoin, here is a bitcoin domain, and the discussion should be about investing in bitcoin.

There are people who are interested in altcoin, and you can’t change their interest in altcoins and they would obviously want to buy some altcoins, altcoins investment can be very very risky, if i want to invest in altcoins it should be a short term investment, I can’t invest in altcoins for the long term purpose, there are people who are investing in altcoins for the purpose of diversification.

You are right that many investors are more interested in altcoins. Their main target is to earn more profit from altcoin in a short time. There are very few long term planners among new investors, but as a result of their involvement with crypto platforms, many new investors are attracted to long term Bitcoin investments, divest risky plans. The apprenticeship period is very important for every investor because during this time there is a high chance of making mistakes or making investment mistakes.

I think those who want to have a diversified portfolio should be locked in Bitcoin accumulation for at least 4 years. Accumulation Bitcoin regularly will increase their investment discipline and experience in the market.

[sokani]

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.

I think you need to understand that not all altcoins are shitcoins. Bitcoin may be the best crypto to invest in because it has gone through thick and thin and it's still standing. However, it does not mean other altcoins are not worth investing in. They are. I mean the well-established and popular ones like ETH, SOL, BNB, XRP, etc. They have use cases and have shown to be good assets to buy and hold too.

[Franctoshi]

The answer is yes, the reason being Altcoins are very risky to trade or invest in, and before you get involved,involved you should be someone with good trading or investment experience to venture into them and not a newbie. Secondly, if you must invest in any of the Altcoins, it should be based on your risk tolerance; it should be the last part of your investment after you must have loaded your bag with Bitcoin. Investment in Altcoin are are like the money we used to gamble, that's if you want to do some sort of cryptocurrency gambling activity then you're good in as much as you are aware that it's gambling you that you're doing when it comes to that side of investment.

[Umulala-alala]

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.

Beginners should always choose bitcoin over and over again, bitcoin is not a pump and dump coin it's also reliable with less risk if invested for a long time, i won't advise any one to go put money into shitcoins or Altcoin but anyone who wants to invest in these coin can go with 10% of what they have as there discretionary income because you can wake up one day and see your investment running down to zero. Bitcoin always remain the head of all cryptocurrency coin and it has been existing for time now and still doing better in the market so if anyone wants to invest they should choose BTC first before any other crypto investment.

[Jasmyne]

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 its growth and consistency, and remains the best so far cryptocurrency is concern.

Yes bitcoin is most trusted cryptocurrency and it has been known to be reputable amongst others which I agree to and main reason people are advised to buy bitcoin. But saying you will always make profit in bitcoin is the part I don’t really agree to because profit in bitcoin isn’t guaranteed. That’s why so many persons have bought bitcoin, some successful made profit while some did not. Patience will help investors achieve their long term goal but only patience isn’t enough to guarantee profit.

[Cookdata]

As a beginner it is important for you to understand that investing in altcoins can be very risky for you because this requires a whole lot of knowledge and based on the fact that you are still trying to understand the crypto market it is not really a good idea to start with focusing on altcoins. Start your investment in Bitcoin and subsequently you can start investing in altcoins but you must still be very careful. When investing in altcoins you must understand that they are very volatile and the risks are very high.

There is risk in all investments Bitcoin included but you are likely not getting your investment back when you invest in altcoin. You see that there is  altcoin board in the forum and some of their announcement board but they have left because the forum doesn't tolerate the kind of risk they bring do the forum. There is no single altcoin on the market that has not disappointed there investors, they all have did at some point and they make the useless promises they don't fulfilled.

To make altcoins worse, the meme coins spoilt the fun of the loss because tell me why anyone in the comfort of their home will launch a funny coin like they called it and make million right under their bed. What kind of investment is that? What is the message they are trying to send? That you can fraud someone their hard earned money and run away, these is why people with investment high IQ are not putting their money on them anymore.

[ejikeme24]

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Yes bitcoin is most trusted cryptocurrency and it has been known to be reputable amongst others which I agree to and main reason people are advised to buy bitcoin. But saying you will always make profit in bitcoin is the part I don’t really agree to because profit in bitcoin isn’t guaranteed. That’s why so many persons have bought bitcoin, some successful made profit while some did not. Patience will help investors achieve their long term goal but only patience isn’t enough to guarantee profit.

You're right about that, even though a person is investing for Long term yet there's no guarantee if the person will make profit or not, and I also agree with you on this aspect of being patient. Surely Those who are patient with their bitcoin investment didn't regret. But I don't quite agree with you when you Said some did not make profit, are you referring to those who only invest for Short term or long term investors let me know, if it's Long term I can clearly say that they all made profit from their bitcoin investment it's only those that invest for Short term that Didn't make profit from bitcoin while some are lucky even when they invested for short term.

[Grace333]

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Yes bitcoin is most trusted cryptocurrency and it has been known to be reputable amongst others which I agree to and main reason people are advised to buy bitcoin. But saying you will always make profit in bitcoin is the part I don’t really agree to because profit in bitcoin isn’t guaranteed. That’s why so many persons have bought bitcoin, some successful made profit while some did not. Patience will help investors achieve their long term goal but only patience isn’t enough to guarantee profit.

You're right about that, even though a person is investing for Long term yet there's no guarantee if the person will make profit or not, and I also agree with you on this aspect of being patient. Surely Those who are patient with their bitcoin investment didn't regret. But I don't quite agree with you when you Said some did not make profit, are you referring to those who only invest for Short term or long term investors let me know, if it's Long term I can clearly say that they all made profit from their bitcoin investment it's only those that invest for Short term that Didn't make profit from bitcoin while some are lucky even when they invested for short term.

Sure there is no guarantee for long term investment, but from what the charts say long term investment had been a profitable investment approach as far as bitcoin is concerned. So, long term investment is always better than short term investment for bitcoiners. The idea of short term investment is usually derived from altcoins traders due to the nature of those coins, so they feel same approach can be related to bitcoin, well it's not a good idea to play risky when you can actually take a better option that's a lot more less risky.

[Fiasem20]

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 its growth and consistency, and remains the best so far cryptocurrency is concern.

Yes bitcoin is most trusted cryptocurrency and it has been known to be reputable amongst others which I agree to and main reason people are advised to buy bitcoin. But saying you will always make profit in bitcoin is the part I don’t really agree to because profit in bitcoin isn’t guaranteed. That’s why so many persons have bought bitcoin, some successful made profit while some did not. Patience will help investors achieve their long term goal but only patience isn’t enough to guarantee profit.

Since patience no be only the virtue wey go make investors gain plenty profits then another one still dey which na consistency.Many investors just dey feel say dem fit just invest once then make dem wait for a long term with the hope say e go appreciate,normally e go appreciate oh but e no go reach that person wey choose to dey consistent with their accumulation.Bitcoin nai be the most valuable coin for the crypto space,na why many people dey hold am for the long term,altcoin no go fit do wetin bitcoin dey do for ehn enthusiasts their financial life na why experts dey always advice newbies for this crypto space to start right.So the summary of this matter be say as you dey patient sha dey build decent portfolio through consistent accumulation.

[Sonia_123]

Wetin beginners need to focus on na Bitcoin nor be altcoin if not dem go miss road, because them dey deceive people well well, dem be like sey dem better pass bitcoin and fit give quick money pass but na lie.
Bitcoin nar the sure coins wey nor go fit disappoint us nar for us to dey patient with am we go see as him go proof himself, people like fast money dem nor know sey that kind of money dey purge person, those altcoin dem go just dey for sometime before you know dem nor go exist again.

[Tongley]

Wetin beginners need to focus on na Bitcoin nor be altcoin if not dem go miss road, because them dey deceive people well well, dem be like sey dem better pass bitcoin and fit give quick money pass but na lie.
Bitcoin nar the sure coins wey nor go fit disappoint us nar for us to dey patient with am we go see as him go proof himself, people like fast money dem nor know sey that kind of money dey purge person, those altcoin dem go just dey for sometime before you know dem nor go exist again.

Yes, I completely agree with you on this. Most of the altcoins in the market are fraudulent coins and the main goal of creating these coins was to trap everyone and take them into a financial loop. In the beginning, these coins will be widely promoted and when everyone buys and the value of these coins increases, they will sell all the coins they have and make everyone face losses.

If a person is willing to invest in crypto, then surely that person should have only one goal and that is Bitcoin. Bitcoin is the only coin that is trusted and by investing in it, there is an 80% chance of profiting from Bitcoin compared to all other coins.

[Futurexxx]

Wetin beginners need to focus on na Bitcoin nor be altcoin if not dem go miss road, because them dey deceive people well well, dem be like sey dem better pass bitcoin and fit give quick money pass but na lie.

The truth of the matter be say, most of these newbies and even old timers wey don dey for this crypto space for a very long time know say na Bitcoin be the ogbonge coin to invest in, but them no get patience to invest and wait for am to ripe and reap the full benefits of their investment, them just want to get rich quickly, and na because of that you go see person wey know all the risk wey alt and meme coin carry, but go still go ahead to invest big money inside.

 So impatient and greed for higher profit self nai contribute why people dey invest in alt and meme coin after knowing all the risk wey them carry for body.

[Tetu100]

Wetin beginners need to focus on na Bitcoin nor be altcoin if not dem go miss road, because them dey deceive people well well, dem be like sey dem better pass bitcoin and fit give quick money pass but na lie.

The truth of the matter be say, most of these newbies and even old timers wey don dey for this crypto space for a very long time know say na Bitcoin be the ogbonge coin to invest in, but them no get patience to invest and wait for am to ripe and reap the full benefits of their investment, them just want to get rich quickly, and na because of that you go see person wey know all the risk wey alt and meme coin carry, but go still go ahead to invest big money inside.

 So impatient and greed for higher profit self nai contribute why people dey invest in alt and meme coin after knowing all the risk wey them carry for body.

Wetin I wan talk be say, me self I no dey too blame those set of people oh. Because sometimes to wait till God's know when self e no easy, especially when e be like say level no too clear, as in when hunger dey ground, but wetin surpose sub be say. Even if you want diverse your investments portfolio, make sure say your bitcoin side don dey settled first before you even think of to look elsewhere. Yes, normally money no dey belle full person no doubt, nothing dey wrong when you try other coin sometimes your luck fit shine since e don dey happen before no be new thing, but make we dey always take that risk with the little amount wey no go worry us just in case that coin crash na the point I dey Wan point out be that.