Post
Topic
Board Altcoin Discussion
Re: What's your reason for buying altcoins?
by
KingOfTheBongos87
on 22/05/2022, 22:13:29 UTC
Please vote in the poll and explain your reasoning below...

Mid-way though Bitcoin's 2017 bull-run, Coinbase, the largest crypto exchange at the time, 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 now 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 and have you already taken profits?

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


I dеcided to hodl some altcoins because I know they spike their price in the next years to come but it's all depends on their developers and what kind of project they have. Most of the time projects are the same and have the same agenda but you need to look at the team because that's all that matters. Whatever they promise to do in the future with their project, if they don't have the necessary resources, it won't really happen, I've seen lots of those broken promises in the past. only those projects that have legit teams and enough funds are able to update and promote their project well.