To invest one must take risk, without taking risk investment is never possible but we have to make sure that we are taking risk in right place or taking risk in wrong place. Taking risks in altcoins to have bitcoins is definitely foolish.
As we have to invest through money, it is our responsibility to ensure maximum security of money. Bitcoin is safe and Bitcoin will definitely guarantee you money but altcoins will never guarantee you money. A Bitcoin investor has high hopes that his investment will never fail and he will never be promoted by investing in Bitcoin. Such belief of an investor towards Bitcoin is enough to invest in Bitcoin. Since we have knowledge, we have to put that knowledge to good use. Instead of depending on others, I have to find out by myself where my money will be safe as well as where my money will grow if I invest. When a person tries to use his knowledge to know these things, he can find the right investment medium and that must be Bitcoin.
Why do we even have to discuss altcoins here? In general, they are a risky investment in my opinion. The risk is high because only a few of them are genuinely profitable as investments. Have you ever heard of developers exiting a project and taking the money? That happens in altcoins but never in Bitcoin because Bitcoin's developers are anonymous and not moving their funds. I'm talking about Satoshi. These altcoins are just copies, riding on the popularity of Bitcoin. If you've witnessed and experienced a bull run, it's Bitcoin that's driving that bull market. Altcoins just benefit from it. So, if you want to be on the safer side, always choose Bitcoin over any other project.
Thank you for being a voice of reason. So many people are so reluctantly discussing about Bitcoin forgetting this is where Bitcoin should be discussed and any conversations should be directed to Bitcoin. As far as Bitcoin is concerned, it is the only legitimate cryptocurrency all other alternative currency are scams, Inexpensive, imitations, appealing to the praises of developers. Even in their widespread in various technologies and adaptation to AI that doesn't make them useful, worthy, or worth being taken seriously like Bitcoin. Bitcoin has maintained its technology consistently without any failure over the years since its origin. Don't get me wrong. I have am not against the evolution of Altcoins am here to bring us back to the topic at hand and share a fresh perspective.
Many things were said about Bitcoin years ago, even though I didn't have much knowledge about it, I didn't listen. I bought a small amount, but I sold it at a low point due to my lack of knowledge. Now, I continue to invest in Bitcoin by Dacing on a weekly basis, and I hold all for long because I have gained a better understanding of how it works. Sometimes you just have to take a chance.
Good for you! You're on the right path by investing in Bitcoin. It has a track record of being the powerhouse in the market. We refer to this market as the cryptocurrency space, and that includes altcoins too.
But remember, without Bitcoin, there wouldn't even be something called altcoins. They're essentially 'alternative coins' for a reason. In reality, there might not even be a need for these alternatives since Bitcoin is doing just fine with its intended purpose. So, yeah, tread carefully with altcoins; they can eat into your cash.