Post
Topic
Board Altcoin Discussion
Re: Newbie thoughts about altcoin investments.
by
albon
on 23/10/2020, 21:55:00 UTC
You don't have to invest in altcoin if you are worried if the altcoin can't profit. You can only select bitcoin for your investment and never check on the altcoin market. You can buy bitcoin as many as possible because that is the best investment in the crypto market. You don't have to analyze more about the altcoin because you already have the best investment.

But if you are willing to invest in the altcoin, that can give you additional profit in the future because the altcoin will rise after bitcoin touch the high price. I suggest you to try to analyze the top 10 coin list at the coinmarketcap or coingecko, so you can get the good coin to invest.

Bitcoin is the most stable cryptocurrency and it is impossible to get more profit on Bitcoin.
Altcoins are much more volatility. There are some promising altcoins of the projects that offers a prospective technologies. But a lot of depends how these technologies will be realized.
Also many altcoins now use staking system to attract the community and pay users rewards for holding tokens. Cheesy
This is an article about different kinds of staking systems and their advantages - https://medium.com/bonfiorg/introducing-bonfi-web-staking-7368467d18cc

It is still possible to make good money on bitcoin, look even at the latest rise in the rate. And for permanent earnings on this asset, there is margin trading. As for staking, you are right, there are good altcoins that provide this opportunity.

Yes, there are altcoins that can make the investor reap a lot of profits from them because of their volatility and because they have not reached their highest level, but you need to be an expert in order to be able to identify these promising altcoins with the large number of projects that appear every day, as it will become difficult for a Newbie in this field and he does not have enough experience, the bitcoin in my opinion is safer than risking your money in projects that you do not know who is standing behind them.