Should Beginners always avoid Altcoins

[#BTC]

That’s right and only an amateur would argue this. Mere looking at the Bitcoin’s historical record, there’ll be absolutely no need to doubt its long term potential. Yes we know that historical performance may not always guarantee future growth, but Bitcoin has proven beyond all reasonable doubt that it has what it takes to keep up with its historical records, which is why I am also of the opinion that the best way to approach bitcoin is through maintaining a long term outlook and mindset, that’s if you really wanna reap the rewards that comes with bitcoin.

This is to attest that there's no real benefits in Bitcoin when you try to take the back way (trading), every real benefits rely on how long you sustain.

I fully agree with you on your stand that Bitcoin has beaten every conviction and proven itself overtime to be outstanding amoung every other crypto currency, only traders sees the reason to argue this fact.

[Sunshine1525]

(Snip)

This is to attest that there's no real benefits in Bitcoin when you try to take the back way (trading), every real benefits rely on how long you sustain.

I fully agree with you on your stand that Bitcoin has beaten every conviction and proven itself overtime to be outstanding amoung every other crypto currency, only traders sees the reason to argue this fact.

That's how it has always been and would continue that way till forever, Bitcoin has always been progressive therefore to benefit from it hugely, it must be held longer, anything outside that could only give little profits out of luck since it's volatile, people who bought Bitcoin at $60k months ago can agree with that and if they hold more longer for more years they'll be grateful they did.

I join in agreement to what Tungbulu said, "the past doesn't justify the future because it's unknown" but Bitcoin has convinced us in over 4 cycles or thereabout that it would remain progressive, that's why holding it is a better choice than trading with it.

[Swift_tr]

I proclaim that we using the crypto currency is not bad , but bitcoin will always remain the best  and now I think bitcoin is in progression, you sustaining bitcoin for years can actually change your life cuz of the level of bitcoins appreciation as currently now . Bitcoin can be also called a currency because of its value in our every day life ...... And trading also in my own perspective can be regarded as gambling cuz you are actually risking to make profits and sometimes you actually make losses too ..... Hence I regard bitcoin as an appreciated currency and also a valued one at that .

[fredericktaylor]

I wouldn’t say the problem is in buying or investing in altcoins as a whole, but i think most buy blindly while ignoring everything important about investing; The case for this could also be said for bitcoin, investing blindly in any product in general will cause a loss in money. But again do we think this statement should mean for beginners to completely stray away from altcoins or if they would at least gain something from venturing into them alongside bitcoin.

Beginners don’t need to avoid altcoin completely and again they shouldn’t rush into it either. You can study altcoin without investing any of your funds in it. This will help you to understand value of projects they have and also why others do fail. The problem you will have is having to invest in what you don understand before you buy same as Bitcoin. So first and foremost learning is very important first before deciding weather you are choosing Bitcoin or altcoins.

Wherever you invest, it is very important to first gain proper knowledge or research about that subject. If you do not gain knowledge, then you will never be aware of the risks and if you do not adopt awareness of risks through investment, there will be nothing left but losses, so it is very important to research every subject thoroughly before investing.

Whether you invest in Altcoins or Bitcoin is entirely your personal decision. However, from my perspective, do not invest in places where there is a high probability of loss by taking extra risks in the hope of making more money. Whether you invest in Bitcoin or Altcoins, there is no confirm of 100% profit but from past history we have seen that if you invest in Bitcoin consistently with a long-term plan and wait for a long time, this reduces the risk of losing money and there is hope for profit in the long term.

[Crakryptvest]

Beginners don’t need to avoid altcoin completely and again they shouldn’t rush into it either. You can study altcoin without investing any of your funds in it. This will help you to understand value of projects they have and also why others do fail. The problem you will have is having to invest in what you don understand before you buy same as Bitcoin. So first and foremost learning is very important first before deciding weather you are choosing Bitcoin or altcoins.

Let's say you are right with your suggestion, do you know that you can be tempted to give a project you are studying a trial? There are Altcoins like ETH, Sol, BNB and many other good projects that have been in market for long, but the thing is that as a beginner, you may not know your way around, as a beginner, the best is to start with Bitcoin, it is not a good idea from beginners to get themselves distracted, don't misunderstand me, there's no digital asset that's better than Bitcoin investment, so I don't see any reason why a beginner will give attention to altcoins, Altcoins can come later if that's what a beginner wants, but Bitcoin should be prioritized first.

[Finebone]

Let's say you are right with your suggestion, do you know that you can be tempted to give a project you are studying a trial? There are Altcoins like ETH, Sol, BNB and many other good projects that have been in market for long, but the thing is that as a beginner, you may not know your way around, as a beginner, the best is to start with Bitcoin, it is not a good idea from beginners to get themselves distracted, don't misunderstand me, there's no digital asset that's better than Bitcoin investment, so I don't see any reason why a beginner will give attention to altcoins, Altcoins can come later if that's what a beginner wants, but Bitcoin should be prioritized first.

You made a very valid point with your write up here, because when I look at the question asked by the op, the first thing that comes to my mind is that, how can a newbie know the right or wrong alt coin from the start when he is mostly ignorant on so many things, so it's because of that I think that it is very necessary for a newbie to stay off alt coin until he knows his footing first, before proceeding on how to take a gamble on them when he is more informed.

As a newbie that is just getting into the crypto space, focusing on only Bitcoin should be a priority because getting involved in alt and meme coin with such a level of ignorance will costly. So keeping off at that level is a must, if you don't want to get yourself burnt in this crypto industry.

[Female King]

Not just beginners but anyone that doesn't want to lose his or her hard earn money shouldn't think close of investing in altcoins, shitcoin is even the worst. Instead of investing in altcoins or shitcoin it will be good you go into bitcoin trading by buying at low price to sell when the price of bitcoin do more numbers, to be more guilded is by investing in bitcoin for a long time, I haven't heard of a long time bitcoin investor that has said they have lost there money as a long time investors, beginners who have knowledge of bitcoin will invest and hold for long and i wouldn't advise anyone coming into crypto investment to invest in altcoins or shitcoins.

[Cossyblack]

Not just beginners but anyone that doesn't want to lose his or her hard earn money shouldn't think close of investing in altcoins, shitcoin is even the worst. Instead of investing in altcoins or shitcoin it will be good you go into bitcoin trading by buying at low price to sell when the price of bitcoin do more numbers, to be more guilded is by investing in bitcoin for a long time, I haven't heard of a long time bitcoin investor that has said they have lost there money as a long time investors, beginners who have knowledge of bitcoin will invest and hold for long and i wouldn't advise anyone coming into crypto investment to invest in altcoins or shitcoins.

There are several altcoins that are doing well in the market,big whales who have invested in these coins haven't complaints that they have lost money unless the ones who are trading. However, bitcoin is the best that is why a beginner should consider to invest in bitcoin before any other coin but that doesn't mean that other coins in the market aren't safe to invest, ofcouse bitcoin isn't the only reliable coin to invest as we have Ethereum,solana,trons and a few them that are reliable to invest. So the advise I can give to a beginner is that they should invest in bitcoin, accumulate lots of it then diversify to a reliable altcoin that is safe and reliable to invest.

[Xackie]

Beginners don’t need to avoid altcoin completely and again they shouldn’t rush into it either. You can study altcoin without investing any of your funds in it. This will help you to understand value of projects they have and also why others do fail. The problem you will have is having to invest in what you don understand before you buy same as Bitcoin. So first and foremost learning is very important first before deciding weather you are choosing Bitcoin or altcoins.

Let's say you are right with your suggestion, do you know that you can be tempted to give a project you are studying a trial? There are Altcoins like ETH, Sol, BNB and many other good projects that have been in market for long, but the thing is that as a beginner, you may not know your way around, as a beginner, the best is to start with Bitcoin, it is not a good idea from beginners to get themselves distracted, don't misunderstand me, there's no digital asset that's better than Bitcoin investment, so I don't see any reason why a beginner will give attention to altcoins, Altcoins can come later if that's what a beginner wants, but Bitcoin should be prioritized first.

When I can suggest newbie to focus on Altcoins as a part of diversification is when they have accumulated Bitcoin for long period of time.  When they feel that they have good of bitcoin, then there's nothing bad in trying out other projects.  The Altcoins you mentioned are the only ones I feel are still okay and less risky than other  types of Altcoins.  These are still backed with trust institutions.  Some investors might not even go to Altcoins instead shift their focus to stocks ,gold etc. Like you said bitcoin should be the first priority of newbies who want to invest in digital token. The experience they will gather from investing in bitcoin will help them, when they start to focus on other projects.

[Tongley]

Not just beginners but anyone that doesn't want to lose his or her hard earn money shouldn't think close of investing in altcoins, shitcoin is even the worst. Instead of investing in altcoins or shitcoin it will be good you go into bitcoin trading by buying at low price to sell when the price of bitcoin do more numbers, to be more guilded is by investing in bitcoin for a long time, I haven't heard of a long time bitcoin investor that has said they have lost there money as a long time investors, beginners who have knowledge of bitcoin will invest and hold for long and i wouldn't advise anyone coming into crypto investment to invest in altcoins or shitcoins.

There several altcoin that are doing well in the market,big whales invest those coins yet they haven't regretted for a moment. However, bitcoin is the best and should be the first to be considered to invest by beginners but that doesn't other coins is the market aren't safe to invest, ofcouse bitcoin isn't the only reliable coin to invest as we have Eth,solana,trons but a few that are reliable to invest.

There are many coins in the market that are trustworthy and we can make a lot of profit by investing in them and many people think that at the moment we can make a lot of profit by investing in all these coins than investing in Bitcoin. But yes, when investing in these altcoins or choosing altcoins, we must choose these coins through proper research and correct information so that we do not invest in fraudulent coins and do not get cheated.

The reason behind our idea about altcoins is that most people invest in altcoins in the market without proper research and any kind of verification and get cheated. It would be best for beginners to start with Bitcoin.

[Somto9Light]

There are several altcoins that are doing well in the market,big whales who have invested in these coins haven't complaints that they have lost money unless the ones who are trading. However, bitcoin is the best that is why a beginner should consider to invest in bitcoin before any other coin but that doesn't mean that other coins in the market aren't safe to invest, ofcouse bitcoin isn't the only reliable coin to invest as we have Ethereum,solana,trons and a few them that are reliable to invest. So the advise I can give to a beginner is that they should invest in bitcoin, accumulate lots of it then diversify to a reliable altcoin that is safe and reliable to invest.

How many altcoins are doing well in the market currently? Big whales mostly invest in valuable coins with low volatility in case when the price is falling, they won't lose everything. Whales don't trade bitcoins but they can trade on some altcoins but it will just be as if they are trying to see if they can make quick profits. Bitcoin is not highly volatile like other cryptocurrencies. The price can never dump as most altcoins does and that is why a beginner will need to focus on bitcoin investment then when he now understand how the market works he can diversify to altcoins. Ethereum and Solana are good altcoins by the way, it's not bad to invest in them but you will have to do that wisely and also invest an amount that you can afford to lose.

[Tmoonz]

To under cryptocurrency in general, beginners would need to start with Bitcoin since it is the best digital currency we have currently, so while trying to understand Bitcoin, involving in alt and others would be a distraction especially if the beginners choose to invest with Bitcoin which is expected of them.

Moreover since the beginner haven't fully understand the cryptocurrency space the beginner might end up losing a lot of money investing in shitty coins.

I have got to understand that not everyone have the opportunity of getting to know about Bitcoin first, majority was first introduced to altcoins and maybe put of their curiosity and research they were able to find out about Bitcoin, this is because altcoins are filled with promises of making money quick and over night and alot of people are much interested in things like this but unfortunately, most of their involvement with altcoins never ends well and on that occasion they get to realize and find out that Bitcoin stands to be the best and a better place to put value, I am lucky to know about bitcoin first before getting to know about other coins and am fully aware of their potential risks and benefits in comparison, beginners should get to know and focus on bitcoin first while figuring out if they are going to be interested in altcoins or not.

[Bigjoe33]

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 would prefer they just stock with Bitcoin investment first before even thinking of trying any altcoin, because the volatility of Bitcoin is already enough to keep you already busy and guessing as a new beginner in cryptocurrency.

Getting involved in Bitcoin and also altcoin the same time might be confusing for the beginner because everything looks strange and not understandable. Imagine a beginner experiencing decline in his both portfolio. While Bitcoin is falling I'm price, his altcoin also is falling. Imagine his mood and feeling at that moment. The pressure will be lot more. It's best that he just starts with Bitcoin investment, investing little amounts weekly or monthly without pressure or much expectations and ready to HODL for long time. This will be safe for him.

[DubemIfedigbo001]

...

Let's say you are right with your suggestion, do you know that you can be tempted to give a project you are studying a trial? There are Altcoins like ETH, Sol, BNB and many other good projects that have been in market for long, but the thing is that as a beginner, you may not know your way around, as a beginner, the best is to start with Bitcoin, it is not a good idea from beginners to get themselves distracted, don't misunderstand me, there's no digital asset that's better than Bitcoin investment, so I don't see any reason why a beginner will give attention to altcoins, Altcoins can come later if that's what a beginner wants, but Bitcoin should be prioritized first.

All these assessments are not for a real newbie, a total newbie might not even know the difference between bitcoin and other altcoins, unless when put through proper guidance or mentorship from an experienced guy. Total newbies largely start from altcoins because they tend to go with the hype on social media depending on which coin is making waves as at time of their entry, so my point is that avoiding altcoins or not might not be the question here since most cannot differentiate between the two.

Those at better advantage are newbies already exposed to the field of profitable investments for a loner period of time, so they can properly do their risk assessments on both bitcoin and altcoins and decide for themselves how to engage in both. I would personally advise newbies not to engage in altcoins with more than 10% of what they hold in bitcoin.

[Swift_tr]

I think beginners should learn Bitcoin first before moving on to others because it's easier to understand and less risky than most alts. There's nothing wrong with learning about altcoins later, but no one should invest in them without doing proper research first to avoid stories that touch because money is not easy to come by because the aim of it all is profit making.

[DiMarxist]

Cryptocurrency is filled with endless opportunities, meaning that you can make profit from both bitcoin investment and altcoin investment s as well but as a beginner it is important that you focus mainly on bitcoin while you learn about altcoins because they are kind of complicated to understand and jumping into it without much research is going to lead to a whole lot of mistakes.

Buying altcoins as a beginner can be very dangerous because it is not only confusing to know what coins to buy you might also end up buying a coin at the wrong time. You might end up buying some coins due to pressure, FOMO and market hype. There are so many things that you need to study before making such investments. starting with bitcoin is the wisest thing to do.

[Nuel0717]

Cryptocurrency is filled with endless opportunities, meaning that you can make profit from both bitcoin investment and altcoin investment s as well but as a beginner it is important that you focus mainly on bitcoin while you learn about altcoins because they are kind of complicated to understand and jumping into it without much research is going to lead to a whole lot of mistakes.

Buying altcoins as a beginner can be very dangerous because it is not only confusing to know what coins to buy you might also end up buying a coin at the wrong time. You might end up buying some coins due to pressure, FOMO and market hype. There are so many things that you need to study before making such investments. starting with bitcoin is the wisest thing to do.

There was a time i used to feel that Altcoins are very profitable and gives money faster than Bitcoin but i later discovered that most of those coins are more volatile and risky to begin with. Bitcoin is easier to understand, it’s decentralized and has better opportunities like using it as a means of investment.

Understanding Bitcoin would help beginners understand the market in general, eveh if they later chose to risk on some few altcoins in the future, understanding Bitcoin must have taught them discipline, patience and how to manage risks including the aspect of security too, that's why beginner should always start with understanding Bitcoin.

[Swift_tr]

Beginners shouldn't avoid all altcoins, but should be very careful.
Start with Bitcoin because it's safer, has fewer scams, and is easier to learn.
Don't ignore altcoins completely because some good ones still offer value.
Avoid Buying a coin just because it's cheap, chasing pumps, and putting all your money in one altcoin rather use just a small amount to try out altcoins while still investing in bitcoin which is more valuable.