Post
Topic
Board Nigeria (Naija)
Re: My brothers and sisters, why are we buying Dogs and Cats alternative crypto.
by
Marvelockg
on 07/05/2024, 13:40:21 UTC
I don't want to sound rude but it seems you're an obvious novice in the whole Bitcoin and cryptocurrency ecosystem that's still not yet grounded In the basics of investing into bitcoin and it's clear that you're yet to know the fact that there are some good altcoins out there you can take advantage of for the short term and get some profit from it. Maybe if we're looking at investing into altcoins for the long term, then it's okay to look at it as somehow gambling with our money but I don't think it's right to assume that anyone that's into altcoin is just wasting his money away. I still know a lot of guys that have Bitcoin as a primary asset that's never to be tampered with untill they are able to buy a certain amount while they use part of there money to invest into altcoin and still buy Bitcoin with the profit they realize from those altcoins.

Short term investors and traders still leverage on the good side of some good altcoins and still make something out of it and although investing into altcoins is risky, if you don't allow greed come in your way and you invest an amount that's not going to throw you off balance if things go knot and you're willing to take out your profit without waiting to hit it too big, then it's still not bad to invest into altcoin.

Maybe if you consider keeping your intention is to allocate 20% of your total monthly or weekly earnings into investing in crypto assets, it could take the form of either investing all the 20% into Bitcoin or you can choose to keep out like 3% to try out some good altcoins. That way, it's some some of responsible gambling that can favour you or not and whatever is the outcome of the investment, it's doesn't really shake you that much.

I don't know if I was just lucky but I recently did an investment as this and to be really honest, that was my first time of investing into any altcoin. Bought Pepe with $40 and sold it the moment it got to $70. It's not always a guarantee that other altcoin will work this way and since I'm now looking at focusing more on investing for the long term, such kind of things don't move me that much but what I'm trying to say is that it's not just about the name of the coming that's the issue and surely Bitcoin stands out as a surest long term investible asset but I doubt its right to assume that anyone that's investing into altcoins is throwing away his money.