Post
Topic
Board Bitcoin Discussion
Re: Lessons of my experience and knowledge about Bitcoin
by
Smack That Ace
on 11/10/2023, 09:57:09 UTC
In the current cryptocurrency market, some altcoins even outperform Bitcoin in terms of giving ROI.  People just need proper and right information about altcoins.  Though it is risky, there are altcoins that give their investor a very good amount of profit.  Just like SHIB, many say that it is a shitcoin, I do not refute that, but I cannot deny that I profited 42x+ when I invested in this, altcoin just need the right timing for entry and exit in order to get profit because if the investor missed the timing, he might end up bagholding worthless coins.
Never trust Altcoin. This is advice from my personal experience and from the experiences of many others. After a long experience and many losses due to Altcoin, I was finally completely convinced that only Bitcoin can be trusted. Although in the beginning I made good profits from Altcoin, I cannot trust it at all.

It is true that Altcoin gives you greater profits than Bitcoin, but do not trust it because it can change in the blink of an eye and turn your profits into losses. If you want to venture with a small capital, that is okay, but I do not advise you to enter with a large capital at all.
Investing in altcoins is very risky although there can be a lot of profits there if we know how for look for reliable and strong projects. Since there are plenty of scam projects in the crypto industry, there had made lot of people to have lost funds that could be use for something else and make profits. We need to be very be careful when we invest in altcoins because we can lost funds when we out our money in a project that ended up becoming a rug pull. There investors that keep many huge profits from the market because they know how to look for strong projects in the market and invest in them.

The higher the risk, the higher the profit, that is the rule when investing in altcoins we need to understand clearly. There will be no project that is both safe and brings us high profits.

Actually investing in altcoins is not bad because the profits are huge but it is only suitable for those who are willing to take risks and are willing to accept big losses for a chance to get a big reward. In general, it is similar to gambling. Meanwhile, bitcoin is safer and suitable for those who do not want to risk too much but still receive significant rewards.
For me, where to invest is up to each of us to decide, I cannot advise everyone not to invest in altcoins just because I cannot profit from it because many people have also profited from it.