I have thought of this topic because I don't invest much in altcoins, just trading it to profit. I'm talking about the one you will buy that you would HODL in the long term and keeping it in your cold wallet, hardware wallet, paper wallet, or whatever you do with it as long as you keep the currency itself.
The reasons I could think are the following:
- You invest because of the Technology of the coin And what it could bring to the cryptocurrency space
- You know the developers and supporting them
- You believe you could profit in the long-term
- Because of the Name of the coin. Lol.
I'm just wondering if there are other reasons that you may have and if you agree with the ones I listed. Share it here.
The only thing that makes me want to invest in altcoins is the ability to increase profits compared to BTC. Altcoins can bring much higher profit than BTC because their market capitalization is low, it is easy to pump many times in a day. But there are also certain risks when investing altcoins, and when investing altcoins you must accept that risk.