There is a lot of risk and short term hold in the market, but I would say it is best for beginners to invest in Bitcoin. Because there is no possibility of losing money if you invest in Bitcoin, because the money of all investors who have invested for a long time is safe. So if you want to invest in cryptocurrencies and want to keep your assets safe then it is better to choose Bitcoin.
If we give people this affirmative assertion about investment in Bitcoin, it can do a lot of damages in their psychology which will affect them on the long run. Some of the dangers of giving this kind of assurance about Bitcoin investment are:
- It might make them take unnecessary risks such as borrowing money to invest in Bitcoin with the intention of paying back with the expected profits
- It will lead to complacency and over confident and this could lead to irrational decisions
- When newbies have this mindset, there are chances they might become tired when the expected profits is not forthcoming, in this situation, you never can tell what they will do with their investment
We have to tell people the proper information which is that their risk associated to every investment and Bitcoin is no exception. Just that the risk of Bitcoin investment is drastically reduced when the investment is made with "4-10years" maturity target, this not being a fixed number, just an honest estimate
So if you want to invest in cryptocurrencies and want to keep your assets safe then it is better to choose Bitcoin.
Why not simply use Bitcoin instead of mentioning cryptocurrency which somehow lump Bitcoin together with the numerous shitcoins? Many people have used the terms cryptocurrency to lure unsuspecting people into their scam project that end up making even Bitcoin appear bad. So, to avoid confusion and since we are discussing Bitcoin investment here, we should limit our choice of words to Bitcoin. I hope you get my point?