I am not an altcoin fan but lately, I have spent some time on the alternative cryptocurrency board and I have seen a lot of topics bordering around whether or not to buy some coins and this makes me wonder why altcoins investors are full of uncertainty and always wanting to know the opinion of others before they invest.
Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?
Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?
Is there any other reason for this other that the high risk and high volatility of altcoins compared to bitcoin?
Are they asking because they know there are special skills in altcoin analyses or some people are good at picking g g the right coin to invest in?
Investors are skeptical about altcoins since many of them are not as decentralized and censorship-resistant as Bitcoin is. Aside from the fact that altcoins' prices are much more volatile than Bitcoins', most of them are still in experimental stage. Investors can expect altcoins to be an unreliable investment compared to BTC. Despite the inherent issues of alts, it's still possible to make a profit if you know how to play your cards right. Altcoins are usually driven by hype, so they could rise astronomically in price for a short period of time. But don't expect to take them seriously as a long-term investment because of the reasons mentioned before.
Picking the right altcoin is a hard and time-consuming task. I'd stick with Bitcoin and Ethereum for complete peace of mind. As long as you invest wisely, there should be nothing to worry about. Just my thoughts
