Post
Topic
Board Altcoin Discussion
Merits 1 from 1 user
Topic OP
What's your reason for buying altcoins?
by
dragonvslinux
on 16/12/2021, 10:31:59 UTC
⭐ Merited by CryptopreneurBrainboss (1)
Please vote in the poll and explain your reasoning below...

Mid-way though Bitcoin's 2017 bull-run, it seemed the main reason for buying altcoins was to be diversified in the crypto market when BTC was approximately 50% of the market, or otherwise to increase BTC holdings for long-term holders, prior to BTC dominance eventually dropping down to 30%. This was at a time when Coinbase only offered the choice of three coins - BTC, ETH & LTC - before Binance even existed. Ethereum and Litecoin outperformed Bitcoin that year, especially after many new users saw their values had already increased much more than Bitcoin had, while only being given 3 investment choices.

Since May 2021 altcoin's market share has been around 60% of the total crypto market, confirming that the majority of investors are drawn towards altcoins rather than Bitcoin these days. Coinbase now has over 100 different altcoins, while the largest exchange offers a choice of over 400 options. The days of turning to shady exchanges like Bittrex, Yobit and Cryptopia have long since passed.

But what is your reason for buying and holding these coins? What type of profits (fiat/btc/eth/other) are you hoping to achieve?

Do you genuinely believe any of your altcoins can genuinely surpass Bitcoin or Ethereum's market values in near future?